Day: January 20, 2025

LNG traders divert six US cargoes to Europe from Asia

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LNG

SINGAPORE: Traders diverted at least six cargoes of liquefied natural gas that were on course for Asia to Europe earlier this month, drawn by higher European prices and amid weak Asian demand, according to analysts and shipping data. The diverted cargoes could help meet additional European demand as countries seek to replace piped Russian gas after the Ukraine transit deal expired on Jan. 1, while weather forecasts point to lower temperatures in northwest Europe. The vessels had loaded in the US and were initially destined for China, South Korea, Thailand…

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Middle East Energy 2025 to Launch Battery and E-Mobility Sector, Driving Sustainable Transport Innovation

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New-Project2

Dubai, UAE – January 13, 2025: Middle East Energy, the region’s leading energy event, is taking a bold step towards advancing sustainable transport by introducing a dedicated Battery and E-Mobility sector at its 49th edition. This initiative will debut the internationally renowned Battery Show brand in the Middle East, taking place at the Dubai World Trade Centre (DWTC) from April 7–9, 2025. This addition underscores the event’s commitment to positioning Dubai as a global leader in the energy transition. With a focus on the growing demand for energy storage solutions,…

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World Future Energy Summit 2025 Concludes with a Call for Sustainable Innovation and Climate Resilience

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Future-Summit1

ABU DHABI: The World Future Energy Summit 2025, hosted by Masdar as part of Abu Dhabi Sustainability Week, concluded today at the Abu Dhabi National Exhibition Centre, spotlighting critical global sustainability issues over three impactful days. Key topics explored included self-sufficient sustainable cities, community resilience, and green finance’s supply-demand imbalance. Sustainable Cities and Climate ResilienceThe Sustainable Cities Conference addressed extreme climate events, such as California’s wildfires (US$160–200 billion in damages) and Gulf floods (US$850 million in losses). Experts emphasized proactive climate risk assessments to mitigate such disasters. Dima Al Srouri,…

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Solar Corporate Funding Drops 24% to $26.3 Billion in 2024 Amid Market Uncertainty

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soalr energy

Corporate funding in the solar sector declined sharply in 2024, totaling $26.3 billion, according to Mercom Capital Group’s annual solar funding and M&A report. This represents a 24% drop from $34.3 billion in 2023, encompassing 157 deals, down from 161 the previous year. Key findings include: Venture Capital Funding: Dropped 36% to $4.5 billion, with 87% ($3.9 billion) allocated to 48 solar downstream companies. Top recipients included Pine Gate Renewables ($650 million) and Nexamp ($520 million).Public Market Financing: Fell 59% year-on-year, reaching $3 billion. Nine companies went public, raising $1.3…

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Govt Proposes Tougher Laws for LPG and Explosives Handling

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lpg-plant

ISLAMABAD: The government has proposed stringent penalties for unauthorised handling and storage of liquefied petroleum gas (LPG) and explosives, designating them as non-bailable offenses. Violators could face up to 14 years of rigorous imprisonment and fines as high as Rs20 million, aiming to enhance public safety and deter illegal activities. Currently, offenders face minimal penalties of up to six months in prison or fines of Rs3,000, deemed inadequate by the Oil and Gas Regulatory Authority (Ogra). “The current laws fail to reflect the severity of the risks posed by such…

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