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The world is bracing for a fight for natural gas supplies this year, prolonging the pain of higher bills for consumers and factories in energy-hungry Europe and putting poorer emerging countries from Asia to South America at risk of getting priced out of the market. For the first time since the energy crisis was turbocharged by Russia’s war in Ukraine, Europe risks failing to meet its storage targets for next winter, setting the stage for one last scramble for supplies before new liquefied natural gas capacity starts to ease the situation next year. While Europe has enough gas reserves to get through this winter and prices have eased since the start of the year, inventories are being eroded by cold weather, which swept across the continent this weekend. Supply options have been squeezed since the start of this year, when Russian pipeline deliveries through Ukraine ceased following the end of a transport agreement. “There will certainly be an energy gap in Europe this year,” said Francisco Blanch, commodity strategist at Bank of America. “That means that all the incremental LNG that’s coming online this year around the world will go into making up for that shortfall in Russian gas.” To cover its projected demand, Europe will need to import as much as an extra 10 million tons per year of LNG — about 10% more than in 2024, according to Saul Kavonic, an energy analyst at MST Marquee in Sydney. New export projects in North America could help ease market tightness, but that hinges on how quickly the facilities can ramp up production. With fewer options to restock for next winter, Europe will need LNG shipments, pulling some away from Asia, home to the world’s biggest consumers. Depending on how demand shapes up, the competition would drive prices higher than countries like India, Bangladesh and Egypt can afford and weigh on Germany’s economic recovery. Vattenfall’s natural gas power plant in Berlin on New Year’s Day | Bloomberg Gas futures in Europe, which typically also impact Asian spot LNG prices, are still about 45% higher than at the same period last year and contracts are trading at around triple precrisis levels so far in 2025. Price surges “would be made worse if Asia-Pacific inventories are depleted as well, which would lead to competition for cargoes,” said Jason Feer, global head of business intelligence at energy brokerage Poten & Partners in Houston. It isn’t easy for all utilities and industries to find alternatives to gas. That’s a particular problem for Germany, which was reliant on Russia for more than half of its gas supplies before the Kremlin invaded Ukraine in 2022. With its manufacturing sector laboring under higher costs, energy security has become a major issue in the country’s Feb. 23 snap election. The far-right Alternative for Germany is No. 2 in the polls in part because the party wants to revive cheap pipeline deliveries from Moscow to shore up manufacturing competitiveness. Those losing out to Europe’s ability to pay a hefty premium for gas will be Asia’s developing nations, with some cargoes already diverting to take advantage of higher rates. It’s a similar situation in South America. Brazil struggled to replace waning hydropower generation following a drought-stricken period, and Argentina could be drawn into the competition for LNG for its upcoming heating season. Egypt is also exposed. The country surprised the market last year when it shifted from LNG exporter to importer as it grappled with summer blackouts, boosting purchases to the highest level since 2017, according to ship-tracking data. The country may still require dozens of shipments this year to survive summer heat. A gas storage facility in Haje, Czech Republic, on Jan. 3. This winter’s cold spell has demand in Europe tapping into gas reserves, which threatens to trigger a global scramble for supplies in the coming months. | Bloomberg For LNG sellers, already reaping benefits of higher prices, the squeeze creates opportunities. In some cases, LNG producers may be able to ramp up capacity similar to an export boost that happened in the crisis year of 2022, according to Ogan Kose, a managing director at consultancy Accenture. The outlook depends largely on how quickly new production facilities start up. Last year, growth was negligible as Egypt stopped exports and Russia’s newest Arctic LNG 2 plant was stifled by U.S. sanctions, according to Laura Page from energy data firm Kpler. That puts the spotlight on the U.S. The world’s biggest LNG supplier has for years pitched to save Europe from gas starvation and the message is likely to get louder after U.S. President-elect Donald Trump enters office. He has already threatened tariffs if Europe doesn’t buy more American energy. This year, U.S. LNG exports are expected to rise by about 15%, according to Kpler, as Venture Global LNG’s Plaquemines and Cheniere Energy’s Corpus Christi expansion increase production. But the pace is in doubt. Cheniere has already warned the ramp-up this year will be “relatively slow.” Budapest in early January. Subzero temperatures have coincided with the end of the Ukraine-Russia pipeline transit deal, leaving the region without a key source of gas supply. | Bloomberg In Russia, still Europe’s second-biggest source of LNG, the focus will be on whether the nation will be able to maintain its exports after the U.S. on Friday imposed sanctions on two smaller facilities. Western sanctions have already stifled the major Arctic LNG 2 project and affected key equipment and service supplies, delaying its full completion by two to three years, according to Claudio Steuer, energy consultant and faculty member of IHRDC in Boston. Trump, who has vowed to end Russia’s war in Ukraine, could also change the overall market outlook, especially if a peace deal includes energy, as expected. Russian pipeline gas exports via Ukraine could eventually continue in 2025, according to a note by Anthony Yuen and other analysts at Citigroup. For now, Asia has enough slack to cede LNG supply to Europe. China’s LNG importers have been reselling shipments for delivery
Last year was not a bad one for me. My team at Climate Integrate, a climate policy think tank, expanded. A week spent practicing mindfulness meditation in Bali, Indonesia, enhanced my well-being. Most importantly, being named one of philanthropic organization Climate Breakthrough’s awardees has created an extraordinary opportunity to tackle innovative climate solutions over the next three years. However, 2024 ended with deep disappointment. On Dec. 26, the Japanese government approved a draft that set weak targets for reducing greenhouse gas emissions — a 60% cut by 2035 from 2013 levels — and showed its determination to continue using fossil fuels and nuclear power in the 7th Strategic Energy Plan. This policy direction does not align with the urgent need to prevent severe climate change and falls short of the responsibilities of an advanced country like Japan. Source link
Las Vegas – With its focus on innovative products and cutting-edge technology, the annual Consumer Electronics Show (CES) has not historically paid much attention to energy companies. But there were signs of a shift at this year’s Las Vegas event, as the tech sector begins to confront its substantial energy needs, which are certain to grow as cloud computing and artificial intelligence advance. “If you’d asked me to do CES five years ago, I wouldn’t necessarily have seen the point,” said Sebastien Fiedorow, chief executive of the French start-up Aerleum, which manufactures synthetic fuel from carbon dioxide. Source link
Japanese police arrested Kinuko Iwamoto, former chancellor of Tokyo Women’s Medical University, on Monday on suspicion of breach of trust involving fictitious payments of construction consulting fees by the university, people familiar with the investigation said. Iwamoto, 78, is suspected of having the university illegally pay about ¥120 million in consulting fees to an architect between July 2018 and February 2020 over the construction of a new school building, the people said. Tokyo’s Metropolitan Police Department concluded that there was no justifiable ground for calculating the amount of fees, suspecting that the money spent was funneled back to Iwamoto and used for personal purposes, according to the people. The architect started working as a construction consultant to the university in April 2016 and initially received between ¥40,000 and ¥50,000 per day, according to people familiar with the matter and a third-party committee. In February 2018, Iwamoto, then vice chancellor, proposed raising the fees. The university’s board approved the proposal without any specific discussion. The university paid about ¥309.3 million to the architect for about three and a half years until February 2022. Iwamoto became chancellor at the university in April 2019. She was dismissed in August last year over allegations about illegal expenditures linked to the university’s alumnae association, Shiseikai. The Tokyo police searched the university headquarters and Iwamoto’s home in March last year for alleged aggravated breach of trust, suspecting that Shiseikai paid about ¥20 million in salaries to an aide to Iwamoto although the aide actually did not work for the organization. Source link
A magnitude 6.9 earthquake, measuring a lower 5 on Japan’s seismic intensity scale, struck southwestern Japan at 9:19 p.m. on Sunday evening, according to the Japan Meteorological Agency. The quake’s epicenter was at a depth of 30 km in the Hyuganada Sea. Immediately following the quake, the agency issued a tsunami advisory for the coasts of Miyazaki and Kochi prefectures. Waves of 1 meter are being forecast. People in the vicinity are urged to stay away from the coast and seek higher ground. The JMA is currently investigating a possible link between the quake to a megaquake that could occur along the Nankai Trough at some point in the future. An expert panel will convene at 10:30 p.m. to determine whether a warning will be issued. The JMA had previously issued a Nankai Trough megaquake alert that remained in place for one week after a magnitude 7.1 quake struck off the coast of Kyushu in August last year. Kyushu Electric Power reported no irregularities at its Sendai Nuclear Power Plant and Genkai Nuclear Power Plant. Shikoku Electric Power also reported no abnormality at its Ikata Nuclear Power Plant, according to NHK. More information: Source link
Los Angeles – International Olympic Committee President Thomas Bach said Sunday that U.S. swimming icon Gary Hall Jr. would receive a new set of medals to replace those incinerated in the Los Angeles wildfires. Hall was forced to make a speedy evacuation from his home in Pacific Palisades this week after a raging inferno ripped through the picturesque oceanside community. Hall said he fled taking only his dog, the insulin he uses to treat his diabetes, a painting of his grandfather and a religious artifact. He was unable to return to the house to get the five gold, three silver and two bronze medals he won over the course of three Olympic Games in 1996, 2000 and 2004. “I was getting pelted by embers on that first run,” Hall said. “So I grabbed my dog and some dog food, and that was it,” he told the Los Angeles Times. Bach said in a post on X that Hall would be given replica medals to replace those lost in the fire. “We are in full solidarity with the citizens of Los Angeles and full of admiration for the tireless work of the firefighters and the security forces,” Bach said. “Currently the full focus must be on the fight against the fires and the protection of the people and property. “We have also learned that a great Olympian, Gary Hall Jr., has lost his medals in the fire. The IOC will provide him with replicas.” Source link
In response to the ongoing challenges posed by Japan’s shrinking population and aging rural demographics, the agriculture ministry is introducing a new initiative to dispatch corporate personnel to rural areas. The initiative, part of a new regional revitalization policy under the administration of Prime Minister Shigeru Ishiba, aims to promote rural development through corporate-sponsored training programs and employee side jobs that will help connect businesses with farming villages. A task force involving relevant ministries, local governments and businesses will be formed in February to discuss concrete strategies. The project aims to increase the number of people engaged with rural areas by fostering stronger partnerships between businesses and local farming communities. The plan includes having corporate employees assist with seasonal harvest work and regional events during peak times. For businesses, the initiative offers the opportunity for employees to gain valuable experience and insights from rural exchanges, potentially enhancing corporate value. The ministry also plans to create a more supportive environment for employees interested in taking up side jobs or additional roles in agriculture-related work. To establish the task force, the ministry began recruiting participating companies and organizations in December. From February, multiple specialized subcommittees will begin gathering case studies and creating guidelines. The goal is to compile findings by May and implement the initiative as soon as possible. One of the subcommittees will also focus on improving logistics networks within rural regions. This includes strengthening collaboration with postal services and logistics companies to create efficient systems for delivering food and daily goods from urban centers. According to the ministry, agricultural communities in mountainous areas with fewer than nine households made up roughly 20% of rural settlements as of 2020, with the number more than doubling over the past two decades. Maintaining these communities is becoming an increasingly urgent challenge. Source link
Sankt Anton am Arlberg, Austria – Lindsey Vonn took another impressive step on the comeback trail as she finished fourth in the super-G in Sankt Anton, Austria, on Sunday, crossing the line 1.24 seconds behind first-time World Cup winner and fellow-American Lauren Macuga. Vonn, whose right knee was partially replaced in April by a titanium prosthesis enabling her to make a comeback on the circuit at the age of 40 after six years away from the sport, had already taken an impressive sixth place in the downhill on Saturday. This time, wearing bib No. 31 and in only her third race of the winter, she carved her way smoothly down the piste, nudging in front of Lara Gut-Behrami and finishing 0.32 seconds behind third-placed Federica Brignone. Vonn said she wasn’t “100%” but her form suggests she may be building well for next month’s World Championships in Saalbach, Austria. “It was a real rodeo throughout the race,” she said. “I couldn’t see anything, the visibility was poor. All I did was fight all the way to the finish. Fourth place with these mistakes is good enough.” The 22-year-old Macuga, meanwhile, danced with joy after her clean run of 1 minute, 17.51 seconds took her to her first-ever World Cup podium. She finished 0.68 ahead of Austria’s Stephanie Venier and 0.92 clear of Italian Brignone, who won the downhill on Saturday. Brignone tops the overall standings, 23 points ahead of Croat Zrinka Ljutic, while Gut-Behrami heads the discipline standings, 45 points ahead of Sofia Goggia who failed to finish on Sunday. Source link
The Japan Tourism Agency will launch a model project to support accommodation operators working to turn around their businesses while repaying debts incurred during the COVID-19 pandemic. Under the project, experts from consulting companies will be dispatched to such accommodation businesses to offer advice on how to improve their operations. Essential costs to implement recommended measures will be partly subsidized. Know-how gained from the project will be compiled into guidelines by the agency in the year from April as a reference for other operators. Participants in the project will be chosen mainly from operators outside metropolitan areas that are working to improve their operations with public support from organizations such as councils set up in each prefecture to revitalize smaller businesses. Accommodation operators will draw up plans to enhance their operations with the advice of experts. Possible plans are expected to include ideas such as strengthening marketing efforts, setting fees based on demand and distributing workers appropriately. The subsidies can be used to renovate guest rooms and lobbies and to introduce reservation management systems aimed at improving operational efficiency. Source link