The IEA projects power demand from data centers to double by 2030. While renewable energy capacity is also set to increase, especially in Europe, the intermittent supplies provided by wind and solar won’t be sufficient.

The US, Japan and South Korea have committed to placing US LNG to bolster energy security and for mutual benefits, the countries said in a joint statement following a foreign ministerial trilateral meeting in Brussels on April 3.

Beijing slapped a 15% tariff on US LNG shipments from Feb. 10 in retaliation to American levies, which was further exacerbated last week by another set of Chinese levies on all imports from the US.

Gazprom began supplying gas to Slovakia again at the beginning of February, using volumes given up by Hungary on the TurkStream pipeline, SPP said last month. Volumes were due to double from April, but no amounts were given.

The Alaska energy project should be included in a trade package, Prime Minister Shigeru Ishiba told parliament Monday, as he seeks to put together a sweeping agreement with Washington.

Hungary has gone the other way, leveraging its ties to Moscow for economic gain. It carved out exemptions from under EU sanctions on Russian oil and doubled down on natural gas purchases from Russia. Hungary is also pressing on with the Russia-led expansion of its sole nuclear power plant.

Lower LNG demand from China is also providing near-term relief for European buyers competing for shipments. The Asian country’s purchases are forecast to fall this year for the first time since 2022,

LNG suppliers have invested billions in new export projects on the assumption that China, the world’s top buyer, will underpin demand growth for decades.

“The benefits of expanding U.S. LNG exports have never been more clear, and I am proud to be taking action to support the American people and our allies abroad with more affordable, reliable, secure American energy,”

There have also been reports that Nord Stream 2 could be taken under new ownership with a view to allowing Russian gas to flow via the undamaged string of the link.

China is also boosting its energy security by focusing on producing more gas at home, which will help to curb import growth.

According to Iran’s oil ministry, Qatar has already implemented pressure enhancement schemes, boosting production on Qatar’s side of the field (called North Dome).

OIL Markets have been experiencing dehorning by the bears with the benchmark BRENT trading at $69.45/bbl and WTI Crude trading at $66.12/bbl. We have seen a short squeeze on Natural Gas to $4.34/mmBtu pricing as plays within the COTs Reports have had sluggish skewness pushing prices higher currently at $4.50/mmBtu.Tread cautiously as this is thin ice.

While pipeline gas supplies from Russia cover less than 5% of Europe’s fuel needs after most major routes have been closed since 2022, the nation remains the second largest supplier of LNG to the EU. Purchases hit a record last year, with Spain, France and Belgium being the biggest buyers.

Last year, Ukraine received 724 million cubic meters of gas from abroad, according to estimates from ExPro Consulting in Kyiv. About a third of that was later re-exported to western neighbors, which used the nation’s storage sites.