June 2020

Sentyurin met with his OPEC counterpart Mohammed Barkindo by teleconference June 22 for the inaugural technical meeting of the OPEC-GECF Energy Dialogue.

A mild winter and COVID-19 mitigation efforts have led to declining global natural gas demand and high natural gas storage inventories in Europe and Asia, reducing the need for LNG imports.

All that and softness in the dollar, along with endless cheap liquidity from central banks, helped spot gold gain 0.2% to $1,770.92 per ounce after touching $1,773, its highest level since October 2012 in early Asian trade.

The consortium will collectively acquire a 49% stake in ADNOC Gas Pipeline Assets LLC (ADNOC Gas Pipelines), a newly formed subsidiary of ADNOC with lease rights to 38 pipelines covering a total of 982.3 kilometers, with ADNOC holding the 51% majority stake.

China plans to increase the share of renewables (including hydro) in the power mix to 28.2% in 2020 and the share of renewables (excluding hydro) is expected to reach 10.8%.

Brent rose 49 cents, or 1.1%, to $43.57 a barrel, WTI was up 48 cents, or 1.2%, at $41.21 a barrel

Spot gold was up 0.1% at $1,756.40 per ounce

"I can briefly confirm that we continue to work on this project and expect that its construction will be completed at the end of 2020 or the beginning of 2021,"

The Ecological Goal of the Energy Transition is to reduce global greenhouse gas emissions and prevent the most serious effects of climate change. Replacing energy Fossil Fuel Systems (FFS) with Renewable Energy Systems (RES) is a way to achieve the Ecological Goal.

Australian economy supports a return to positive growth next year