AI-driven productivity gains enable more fossil fuel pollution than they avoid from renewables, causing net yearly carbon emissions to rise by 0.47 to 1.8 gigatonnes, a new study reveals.
Germany faces growing pressure to abandon its free-market approach and order state-controlled energy firms to buy gas as storage levels hit historic lows ahead of winter, threatening wider European supplies.
The EU is projected to enter the heating season with its lowest gas reserves in 15 years (76% full by October), driven by a shift away from Russian gas, reliance on expensive US LNG, and global supply disruptions, potentially leading to increased energy costs.
India is planning to build emergency liquefied natural gas (LNG) reserves by requiring terminal operators to expand storage capacity. This move aims to mitigate supply disruption risks, highlighted by the Iran conflict's impact on Strait of Hormuz shipments. The government is exploring cost recovery mechanisms for operators through higher regasification charges.
Cambodia and Thailand are utilizing a UN Convention on the Law of the Sea tool for "compulsory consultation" to resolve a decades-long maritime dispute in the Gulf of Thailand. This aims to unlock potential $300 billion in oil and gas reserves, following Thailand's withdrawal from a 2001 agreement and recent land border tensions.
Nations heavily impacted by the economic fallout of the Iran war and Strait of Hormuz closure are accelerating efforts to build strategic oil and gas storage, a global push that could generate demand for around half a billion additional barrels. The move follows lessons from the IEA's record reserve release and China's ability to reduce imports during the crisis, aiming to prevent severe economic distress in import-dependent economies.
European gas storage facilities are 45.03% full, the lowest for this date in five years, holding 49.2 bln cubic meters. Injections are down 16% year-on-year, and competition with Asia for LNG amid Middle East conflict escalation is driving higher fuel prices.
Italian gas reserves have surpassed 56% of capacity, reaching nearly 115 TWh, significantly higher than the previous year's figures and outperforming both European averages (37.83%) and Germany's reserves (under 30%). This comes as natural gas prices continue to fall on the Amsterdam TTF market.
