Lithuania bans Russian gas imports

: Natural gas
22/06/28

Lithuania's parliament, the Seimas, today approved amendments to the country's Law on Natural Gas that will ban gas imports from Russia and other countries deemed a threat to national security.

The Lithuanian cabinet of ministers on 18 May first approved these amendments, which aim to "ensure Lithuania's national and energy security", energy minister Dainius Kreivys said. The proposal followed a 22 March resolution from the Seimas that called on the government to create a legal framework that would enable Lithuania to "stop the import and use of Russian oil and natural gas as soon as possible".

The amendments bar access to Lithuania's gas transmission system and its 2.9mn t/yr Klaipeda LNG terminal, although it will not affect suppliers transporting gas through Lithuania to Kaliningrad.

Lithuania's entire gas demand is currently met by LNG from the US that is delivered at the Klaipeda terminal, the government said. Lithuania stopped importing Russian gas for domestic consumption in early April. The country has no shortage of gas now and is unlikely to face one in the future, Lithuanian utility Ignitis said last month, as it has secured adequate supply from non-Russian sources.

By Brendan A'Hearn

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25/03/12

Brazil's Marquise Ambiental invests in 6 RNG plants

Sao Paulo, 12 March (Argus) — Brazilian landfill company Marquise Ambiental will invest R400mn ($68mn) in six biogas plants with an estimated total output of around 40.8mn m³/yr. The six plants will be in southeastern Sao Paulo state, northeastern Ceara and Rio Grande do Norte states, and northern Rondonia and Amazonas states, the company said. The Amazonas state plant, in the capital Manaus, is set to produce up to 18mn m³/yr of biogas and should prevent 300,000 metric tonnes (t) of CO2 equivalent (CO2e) from being released into the atmosphere. The Sao Paulo plant is forecast to produce 4.6mn m³/yr, while the Ceara plant is set to produce 2.8mn m³/yr. Meanwhile, the Rio Grande do Norte state plants, Braseco and Potiguar, are forecast to have output of 9mn m³/yr and 4mn m³/yr, respectively. The Rondonia plant is set to have an output of 2.1mn m³/yr, according to the company. The investment will happen in the next three years, but the company did not disclose when operations at each plant will begin. Marquise Ambiental has one 36.5mn m³/yr plant operating in Ceara , dubbed GNR Fortaleza. It is a joint venture between the firm and gas company Ecometano. By Maria Frazatto Planned Marquise biogas plants m³/yr Name State Capacity Osasco Sao Paulo 4,687,000 Braseco Rio Grande do Norte 9,007,000 Potiguar Rio Grande do Norte 4,097,000 Aquiraz Ceara 2,853,000 Manaus Amazonas 18,092,000 Porto Velho Rondonia 2,160,000 Total 40,896,000 Marquise Ambiental Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Low gas storage bookings may drive German stockdraw

25/03/12

Low gas storage bookings may drive German stockdraw

London, 12 March (Argus) — Low gas storage bookings for gas year 2025-26 may already be driving withdrawals and may continue to do so in the coming months. German stocks were at about 79.8TWh on Tuesday morning, filling 31.8pc of capacity. That was well below the 131TWh three-year average for this date and the 171TWh in storage a year earlier. Stronger withdrawals this winter were at least partly driven by higher heating demand as well as slower European imports of LNG and Russian pipeline gas compared with a year earlier. But market dynamics for upcoming storage years may also be encouraging withdrawals. A backwardated forward curve, with prompt prices holding substantially higher than contracts in winter 2025-26 and further along the curve, has incentivised the stockdraw over maintaining stocks. That said, prices for the summer quarters have risen above the prompt recently, so some firms could have a slight incentive to keep gas in storage past the end of this storage year. But the inverted THE summer-winter spread has disincentivised capacity bookings for the upcoming storage year. Summer prices holding above winter prices removes the commercial incentive to inject or book storage space profitably. And storage operators have struggled to sell space in recent months, with many auctions closing unsuccessfully as bidders cannot profitably hedge injections for the contract period. In the prevailing environment, only about 55pc of all German storage space has been booked for the 2025-26 storage year, leaving at least 103.5TWh of capacity unallocated, data show ( see data and download ). By contrast, firms had booked 99.7pc of German capacity for the 2024-25 storage year. Storage sites with low or no bookings might be driving withdrawals, as firms near the end of some storage contracts. At sites where some capacity is booked for the next storage year, firms could sell their stocks to other capacity holders if there is no financial incentive for withdrawing it. But at the six sites with no 2025-26 bookings yet — Rehden, Wolfersberg, Harsefeld, Frankenthal, the VNG-operated Jemgum caverns and SEFE's Speicherzone Nord — firms cannot sell gas in-store as there are no available buyers to transfer gas-in-store to, incentivising firms to empty stocks ahead of the summer 2025 filling season. Consequently, sites with no booked capacity for the upcoming storage year currently are filled less than most other German sites ( see graph ). The remaining sites suggests a correlation between 2025-26 bookings and stocks, as sites with a lower proportion of capacity booked for the next storage year tend to be less full, following stronger withdrawals this winter ( see withdrawals trajectory graph ). Stock dilemma Before the 2024-25 storage year ends on 31 March, any capacity holder left with stocks must decide either to withdraw that gas or sell it to a company holding 2025-26 capacity, if there is sufficient storage space booked at the individual site. Barring additional capacity sales, that suggests that about 7TWh may need to be withdrawn on contractual grounds alone, not accounting for weather or withdrawals from fully-booked sites. About 5.6TWh of that is stored at Rehden, Germany's largest storage site, whose operator SEFE Storage allows capacity holders to withdraw 10pc of their stocks up to two months after the storage year ends . Rehden was filled to 12.1pc of capacity on Tuesday morning, leaving about 1TWh to be withdrawn even if all capacity holders utilise that 10pc allowance. Four of the six sites with no 2025-26 bookings are depleted fields or aquifers, which have lower withdrawal and injection rates than salt caverns and offer capacity holders less flexibility to react to unusual price spreads. Caverns often offer faster injection and withdrawal speeds, so could still be used economically in summer by, for example, reacting to price volatility rather than seasonal spreads. Faster cycling also allows cavern capacity holders to wait longer before starting pre-winter injections, potentially allowing them to wait until the summer-winter spread normalises before injecting. Slower-cycling sites such as aquifers and depleted fields are usually drawn down more consistently in winter as their slower injections and withdrawals reduce their flexibility. That said, some operators might need to inject into caverns to maintain their structural integrity. This might stop withdrawals or possibly support a minimum of injections ahead of or early in the filling season. German storage operator Uniper Energy Storage bought some gas to store as de-facto cushion gas at its Etzel EGL and Etzel ESE sites last week to comply with German law. Restrictions on minimum pressure are enforced by mining authorities and can differ by site, storage operators have told Argus . By Lucas Waelbroeck Boix and Till Stehr Storage bookings next year vs current fill level % Fill level trajectories grouped by site type % Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Trump to declare power 'emergency' in some states

25/03/11

Trump to declare power 'emergency' in some states

Washington, 11 March (Argus) — President Donald Trump said today he intends to declare a "National Emergency on Electricity" in states that could be affected by Ontario's imposition of a 25pc surcharge on electricity exports and further threat to cut off exports entirely. The emergency declaration will allow the US to alleviate the "abusive threat" from losing electricity imports from Canada, Trump wrote in a post on social media. Trump said in response to the surcharge, he would double existing tariffs on Canadian steel and aluminum , and warned Canada that it would pay a high cost if Ontario cuts off the flow of electricity to the US. "Can you imagine Canada stooping so low as to use ELECTRICITY, that so affects the life of innocent people, as a bargaining chip and threat?" Trump wrote. "They will pay a financial price for this so big that it will be read about in History Books for many years to come!" On Monday, Ontario put a 25pc fee on its electricity exports to New York, Michigan and Minnesota in response to Trump's tariffs on Canada. Ontario premier Doug Ford said he was applying "maximum pressure" on the US over its tariff war, and threatened to cut off exports entirely if Trump increased tariffs further. Ontario was the largest exporter of electricity to the US in 2023, sending 15.2 TWh to the US. Trump already declared a national energy emergency on 20 January, unlocking emergency authorities to fast-track permitting and seek to retain production of baseload power plants. Trump has yet to offer more details on the electricity emergency, but the US Department of Energy (DOE) can issue emergency orders that would allow power plants to run at maximum capacity or waive some environmental regulations. DOE did not immediately respond to a request for comment. The New York Independent System Operator, which runs the state's electric grid, said it was analyzing the effects of Ontario's orders and expects to have "adequate reserves to meet reliability criteria and forecast demand for New York." By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US targets 'lower' oil price, no target: Wright

25/03/10

US targets 'lower' oil price, no target: Wright

Washington, 10 March (Argus) — US president Donald Trump's administration is pushing for lower oil prices but has set no specific price target and expects to bring more supply into the market through deregulation and permitting reform, US energy secretary Chris Wright says. "We certainly believe it's in the best interest of the American people, and honestly, the citizens of the world to have lower oil prices," Wright said on the sidelines of the CERAWeek by S&P Global conference in Houston. But he added that "I won't have a specific price" and that "the actions of this administration are to make it easier to produce more oil and natural gas for the producers, and therefore you get more investment." Unlike Wright, a former oil industry executive who has taken over the Department of Energy under Trump, other senior advisers to Trump have referred to $50/bl as a preferable oil price target. Those include treasury secretary Scott Bessent and Trump's trade adviser Peter Navarro. Trump's call on Opec to "bring down the price of oil" preceded the producer group's decision last week to proceed with plans to gradually return 2.2mn b/d of supply to the market. "We're pleased, of course, to see Opec returning barrels to the marketplace," Wright said, but he added that the US has made no "specific requests or demands". Climate change as "side effect" Wright, in a speech before the general CERAWeek audience, pounded on former president Joe Biden's administration for allegedly ignoring the concerns of the US oil and gas industry and basing its energy sector decisions on what Wright called "irrational, quasi-religious climate policies". Wright called climate change a "side effect" of economic development. "Everything in life involves trade-offs," he said. The potential benefits of Biden-era climate policies were not worth the "endless sacrifices on our citizens", Wright said. "The Trump administration intends to be much more scientific and mathematically literate." Wright's spirited defense of oil and gas and denunciation of climate change policies drew some applause from the audience. Still, the rapid pace of change in the US energy policy every four years is "not the right policy approach," Chevron chief executive Mike Wirth said at CERAWeek. The Trump administration's executive actions affecting the energy sector need to be backed by legislation that makes permitting reform possible, Wirth said. Wright acknowledged a possible contradiction between Trump's vision for lower oil prices and more output, but said that enabling more investment and new infrastructure would address that dilemma. "It's not just 'drill baby drill', it's also 'build baby build'," Wright said. Nasser supports transition Speaking at a separate panel, Saudi Aramco chief executive Amin Nasser echoed many of the same themes raised by Wright, including the claim that the energy transition did not address the needs of the world's poorest citizens in the emerging economies. But, unlike Wright who appeared to disparage solar and offshore wind resources, Nasser said that Saudi Arabia's energy transformation will make good use of renewable energy sources and will continue to aim to reduce greenhouse gas emissions. Trump's administration surprised the US oil and gas industry on 4 March by proceeding with plans to impose a 10pc tax on Canadian energy imports and a 25pc tax on energy imports from Mexico. Trump lifted the tariffs on 7 March but has said he may bring them back on 2 April. "We have, behind closed doors, vigorous debates about tariffs, people arguing all sides of that," Wright said. "What is the ultimate outcome going to be? We don't know for sure." By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Brazil's GDP growth accelerates to 3.4pc in 2024

25/03/07

Brazil's GDP growth accelerates to 3.4pc in 2024

Sao Paulo, 7 March (Argus) — Brazil's economic growth accelerated to an annual 3.4pc last year, the fastest growth since 2021, as gains in the services and industry sectors offset contractions in the agriculture sector, according to government statistics agency IBGE. Growth accelerated from 3.2pc in 2023 and 3pc the prior year. Growth was at 4.8pc in 2021 as the economy recovered from the Covid-19 induced contraction of 3.3pc in 2020. Agriculture contracted by 3.2pc in 2024 after a 15.1pc gain the year prior. The sector's weak performance came as Brazil faced extreme climate events last year that damaged crops , IBGE said. Corn and soybean output fell by 4.6pc and 12.5pc, respectively, according to IBGE. The industrial sector grew by 3.3pc last year after a 1.6pc gain in 2023. Manufacturing industries rose by 3.8pc, driven by a higher output of vehicles, transport equipment, machinery and electric equipment, according to IBGE. Electricity and gas, water and sewage management increased by 3.6pc in 2024 but still decelerated from a 6.5pc gain a year earlier. Higher temperatures throughout 2024 drove the increase, IBGE said. On the other hand, the climate was unfavorable for power generation. The oil, natural gas and mining industry grew by 0.5pc in 2024 from a year earlier. Gross fixed capital formation — which measures how much companies increased their capital goods — rose by 7.3pc from a 3pc contraction in 2023, led by higher domestic output and capital goods imports. Exports rose by 2.9pc, while imports rose by 14.7pc last year. Investment grew by 17pc. Household consumption increased by 4.8pc from a year prior, driven by a 6.6pc unemployment rate — the lowest registered since IBGE started its historic record in 2012 — federal social aid programs and increased lending. Government spending rose by 1.9pc in 2024 from a year earlier. Quarterly GDP Brazil's GDP growth slowed to an annual 3.6pc in the fourth quarter from 4pc in the third quarter, with several sectors contracting, according to IBGE. Agriculture contracted by an annual 1.5pc in the fourth quarter, with 2.9pc and 0.9pc contractions in the wheat and sugarcane crops, respectively, IBGE said. But the industrial sector grew by an annual 2.5pc in the quarter. Manufacturing posted 5.3pc growth, led by the steel sector and higher output of machinery, equipment, vehicles and chemicals. The services sector grew by 3.4pc. The oil, natural gas and mining industry contracted by 3.6pc from a year earlier thanks to a decrease in oil, gas and iron output, IBGE said. Electricity and gas, water, and sewage management fell by an annual 3.5pc, on lower power consumption as power rates became more expensive amid a drought that struck the country in mid-2024. Household consumption grew by an annual 3.7pc, while government spending grew by 1.2pc in the fourth quarter. Gross fixed capital formation increased by an annual 9.4pc in the fourth quarter, according to IBGE. Exports fell by 0.7pc, while imports, which subtract from growth, rose by 16pc. By Maria Frazatto Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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