ExxonMobil and QatarEnergy signed a "declaration of marketability" with Cyprus for two natural gas discoveries in Block 10. The Glaucus and Pegasus fields, holding over 7 trillion cubic feet of gas, are expected to start flowing by 2033, bolstering Europe's energy diversification from Russian gas.
Turkey is in talks with Saudi Arabia and other regional countries to establish a new trade and energy corridor. The proposed route would extend from Turkey through Syria, Jordan, and Saudi Arabia to the Gulf states, aiming to boost trade and energy transport.
China’s shipping giants are bracing for a harsh new reality of persistent global volatility, as the closure of the Strait of Hormuz shifts from being a problem of transit delays to a hard volume shock. With the crucial energy corridor still paralysed as the US-Israel war on Iran drags on with no clear end in sight, China’s state-backed shipping majors are doubling down on long-term contracts and creating new multimodal routes in an attempt to hedge against future shocks. Cosco Shipping Holdings,...
An India-linked supertanker, Sarv Shakti, has crossed the Strait of Hormuz carrying 45,000 tons of LPG. This transit represents a strategic effort by India to maintain energy security amidst ongoing regional conflict and supply chain disruptions.
Washington is reportedly exploring a plan to turn Syria into a key energy corridor, linking their pipelines to Turkey and Europe.
The Strait of Hormuz faces severe disruption after a weekend of escalations including the US seizure of an Iranian-flagged cargo ship and Iranian attacks on two India-flagged vessels. The ceasefire between Washington and Tehran, set to expire Wednesday, is now on the brink as commercial shipping turns chaotic with vessels reversing course or drifting near the chokepoint. India has formally protested the targeting of its ships while Trump warns of possible strikes on Iranian infrastructure if negotiations fail.
