As European benchmarks increase, Asian LNG soars to its highest level this year

Due to heightened competition from Europe for the fuel used in power plants and heating systems, spot LNG prices in North Asia surged to their highest level of the year. According to traders, the Japan-Korea marker, which serves as the region’s benchmark, increased to roughly US$15.3 per million British thermal units on Thursday, November 21,

India announces partnership with the European Hydrogen Week

The second day of the International Conference on Green Hydrogen (ICGH-2024), held at Bharat Mandapam, New Delhi, witnessed the announcement of India’s exclusive partnership with the European Hydrogen Week, scheduled to be held in November 2024. The day highlighted India’s intent to address the green regulations of EU to boost exports. In addition, a Letter of Intent (LoI) was signed between

FuelEU Maritime ready for 2025?

Sarah McCann, FD&D Claims Senior Solicitor – Mediterranean/Nordics & Northern Europe, NorthStandard sets out how the FuelEU Maritime regulations will apply and what needs to be done to meet them, together with contractual considerations. FuelEU Maritime – part of the EU’s Fit for 55 package – will apply from 1 January 2025 to all commercial

Essar Energy Transition announces launch of Europe’s first hydrogen power plant

Essar Energy Transition (EET) announced the launch of EET Hydrogen Power, Europe’s first hydrogen-ready combined heat and power plant (CHP) to be built at its Stanlow refinery, with the aim of completing construction in 2027. The investment will support EET Fuels’ ambition to become the lowest carbon process refinery, globally and EET Hydrogen’s ambition to

Global hydrogen demand remains a concern

Global development of hydrogen electrolyzers rose 4% in the last six months to 1.2 TW as some 55.2 GW of new projects were added, according to Aurora Energy Research’s global electrolyzer database. Europe leads, the Q2 2024 European Hydrogen Market Report (HyMaR) said, making up 32% of the capacity share, followed by Oceania at 21%.

Shell to acquire Pavilion Energy

Shell Eastern Trading Pte. Ltd., a subsidiary of Shell plc, has reached an agreement with Carne Investments Pte. Ltd., an indirect wholly-owned subsidiary of Temasek, to acquire 100% of the shares in Pavilion Energy Pte. Ltd. Pavilion Energy includes a global liquefied natural gas (LNG) trading business with a contracted supply volume comprising about 6.5

Russia overtook US as gas supplier to Europe in May

Europe’s gas imports from Russia overtook supplies from the US for the first time in almost two years in May, despite the region’s efforts to wean itself off Russian fossil fuels since the full-scale invasion of Ukraine. While one-off factors drove the reversal, it highlights the difficulty of further reducing Europe’s dependence on gas from

Shipment of refined fuels to EU markets slows in May

Indian refiners’ usage of petroleum vessels to ship refined fuels such as diesel to key European markets has actually diminished in May after volumes neared two-year high levels last month. Since rising inventories in the, that is Antwerp-Rotterdam-Amsterdam area and shaky east-west diesel cost spreads undermine the case for sellers to ship big volumes of

Demand for clean ammonia will increase 3-fold by 2050: Study

Demand for clean ammonia as shipping fuel will increase rapidly between 2030 and 2050. Blue hydrogen will become dominant source by 2050 says an EU-funded study. According to the study, 76% of that clean ammonia will be produced from blue ammonia, and only 24% from green hydrogen by mid-century.  Th study says, 200 MTPA of

Europe awards green hydrogen funding for 7 projects

The European Commission is awarding nearly €720m to seven renewable hydrogen projects in Europe, selected through the first competitive bidding process under the European Hydrogen Bank. The funds for this auction come from the revenues of the EU Emissions Trading System. The winning bidders, drawn from four countries, will produce renewable hydrogen in Europe and