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Natural Gas Pipeline

Transport Infrastructure

Transport Infrastructure

EU bans Russia's LNG exports

This week, the European Union's (EU) ban on reexporting Russian LNG via EU ports came into force. The EU's goal is to reduce Moscow’s revenue after its invasion of Ukraine. The ban prohibiting the reloading Russian cargoes in EU ports to export to a third country was implemented in June 2024. A moratorium will be enforced until March 26th, 2025, for contracts that were signed before June 25, 2018. Gas experts claim that the measure will have little effect, as transshipments via EU ports into Asia represents less than 10% total Russian LNG exports. However, suppliers would direct this volume...

Transport Infrastructure

How hot or not is the stock market? Recent high-profile US IPOs: How they have performed

CoreWeave’s debut will be a test to see if companies continue with listing or retreat in the face of market volatility. Investors are becoming more cautious as market volatility and tariff uncertainty has made them more selective. Companies, meanwhile, are waiting and watching in an ever-changing trade and geopolitical environment. The recent volatility in the market has made it difficult to go public, but that doesn't mean the IPO window is closed, said Matt Kennedy senior strategist at Renaissance Capital, which offers IPO research and ETFs. StubHub and Klarna, two high-profile companies that have been advancing their listing plans over...

Transport Infrastructure

Russia supplies fuel to Bolivia amid growing energy crisis

According to data from LSEG vessel trackers and industry sources, Russia is increasing its exports of motorfuels to Bolivia as the energy crisis in Latin America worsens and Moscow must expand sales affected by Western sanctions. According to shipping data, between December and march, four tankers loaded at Russian ports Vysotsk Primorsk Taman included 190,000 tons of diesel. This indicates that the port of discharge was Chilean. Market sources confirmed that the cargoes were destined for Bolivia, a landlocked country which depends on ports in other countries for seaborne imports. Bolivia's energy company YPFB controls energy imports as well as...

Transport Infrastructure

Data shows that sanctions cut Russian LPG rail exports in January and February by 24% year/year.

Calculations based on data from the industry showed that Russia's rail-exports of liquefied petrol gas (LPG), which were a result of European sanctions, fell by 24% in January and February compared to last year, reaching 451,000 metric tonnes. The European Union imposed sanctions on Russian LPG due to the conflict in Ukraine on December 20, 2018. Poland, one Russia's biggest LPG importers, proposed the restrictions last year. LPG (or propane and butane) is used primarily as a fuel for cars and heating, and also to make other petrochemicals. The majority of Russia's LPG exports are shipped by rail, with the...

Transport Infrastructure

As more Western shipowners return, the Russian oil shipping rates to India from Baltic ports are reduced.

Two traders reported that the freight rates for Russian oil from its Baltic ports into India have fallen from recent records highs due to an increase in Western shipowner offers after Urals crude prices dropped below a price ceiling of $60 per barrel. The Group of Seven, in coordination and cooperation with the EU imposed a price cap on Russian oil at over $60 per barrel in late 2022, blocking access to Western shipping and insurance services. This was done to limit Moscow's financial ability to fund its Ukraine War. After reaching a record high in early March, the cost...

Transport Infrastructure

Sources say that Marex Group has acquired the warehousing company Edgemere Terminals.

Three sources familiar with the matter confirmed that Marex Group had acquired the warehousing company Edgemere Terminals. The company did not have enough money to comply with the new capital adequacy regulations of the London Metal Exchange. Last week, the LME sent an email to its members to inform them that Edgemere Terminals has moved to 155 Bishopsgate in London where Marex, a commodities broker and financial service firm, is located. Edgemere declined to comment. Edgemere has been approved by the LME. Last year, the LME raised its capital adequacy requirement to five million pounds ($6.46million) from the previous one...

Transport Infrastructure

French rail operator Transilien SNCF Voyageurs halts Alstom's new train deliveries

Transilien SNCF Voyageurs, France's national rail operator, confirmed Monday that it would suspend the deliveries of trains from Alstom SA to Paris' RER system. The company cited high failure rates and poor manufacturing. Alstom was not available to comment immediately on the 4.2% decline in its shares at 1412 GMT. These orders are part of a 2027 framework agreement between SNCF Voyageurs, Alstom and Ile-de-France Mobilites. This authority regulates public transport operators in Paris and its surroundings. 166 RER NGs are currently in production. Transilien SNCF Voyageurs said in an emailed message that the failure rate of Alstom's RER New...

Transport Infrastructure

Heathrow Airport defends its decision to close the airport amid blame games

Heathrow Airport in Britain defended the decision to close Europe's busiest international airport on Friday, as the blame-game intensified following an 18-hour shutdown that cost airlines millions of pounds and left thousands of passengers stranded. National Grid and Heathrow both agreed that this was a rare event. The airport had to defend the closure of the airport after the head of National Grid told Financial Times that there was still enough power in the network to keep the airport powered throughout the crisis. Heathrow reported that the fire in a nearby power substation on Thursday night forced it to close...

Transport Infrastructure

Briton Mansell wins first DP World Tour title in Singapore Classic

Richard Mansell won the Singapore Classic Sunday with a birdie on the final hole. This was his first DP World Tour win on his 104th try. He beat Keita Nagajima by just one stroke. The Englishman Mansell shot a six-under-66 in the final round of the tournament to finish 16 under in a tight competition. Adrien Saddier from France and England's Tom McKibbin finished two strokes back to share third place. When asked about the long wait for his title, Mansell responded with emotion: "God I wish it came earlier." It's a great feeling. It makes all those near misses,...

Transport Infrastructure

Heathrow Fire investigation led by UK counter-terrorism police: no evidence of foul play

The British police said that there were no signs of foul play in the fire. shut down Heathrow Airport confirmed the incident on Friday but said that the counter-terrorism unit is leading the investigation given the serious nature of the incident. Massive flames and black smoke plumes shot into the air west of London on Thursday at 2300 GMT as a fire engulfed an electrical substation a mile-and-a-half from the airport. This forced the abrupt closure of Europe's most busy hub and caused global flights to be disrupted. The London Metropolitan Police Service (Met) issued a statement saying that "while...

Transport Infrastructure

Heathrow closure raises concern over contingency plans

Experts say that the closure of Heathrow Airport in Britain will affect the global aviation network for days and cost tens or even hundreds of millions of dollars. They also question why there was no better contingency plan at the hub. The experts were shocked at the magnitude of the power outage. It was unprecedented since the Icelandic Ash Cloud of 2010. They tried to estimate how much it would cost and the extent of its repercussions. A fire in a nearby substation knocked out both the main power and backup power at the airport. Eurocontrol reports that Heathrow handles...

Transport Infrastructure

Financial Times – March 21,

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. Headlines Heathrow Airport in London will be closed for the entire day due to a power outage GB Energy invests 110 million pounds in clean energy - European military power work on a 5-10 year plan for replacing US in Nato Accenture warns that Elon Musk’s Doge-led crackdown on spending is hitting revenue View the full article London Heathrow Airport has been forced to shut until midnight due to a "significant" power outage caused by a fire in...

Passenger Transportation Services

Passenger Transportation Services

IATA supports European airlines' call to relax green fuel mandate

IATA's head, who represents the world's airlines, has welcomed the call from Europe's leading carriers to delay a target of 2030 for sustainable aviation fuel usage in Europe. He said that Brussels policymakers must face reality. We can't pretend these targets are important and achievable. Willie Walsh said, "They were never going be able to be achieved." According to EU rules, suppliers are required to ensure that 2% (of the fuel) available at EU airports in 2025 is SAF, increasing to 6% by 2030, and then gradually to 70% by 2050. The airlines claim that SAF is scarce and they...

Passenger Transportation Services

BCG report: Green jet fuel production may not meet 2030 targets

Boston Consulting Group's (BCG) report on Thursday found that the sustainable aviation fuel industry (SAF) is not meeting its 2030 targets because production hasn't ramped up fast enough. This year, European airlines will be required to use 2% SAF in their jet fuel. By 2030, this mandate is expected to increase to 6%. Many have complained about the cost of the fuel which is usually three to five time more expensive than conventional jet fuel. The report revealed that airports and airlines are only investing 1%-3% of their budget or revenue into SAF. High production costs and fuel price remain...

Passenger Ground & Sea Transportation

Ukraine Railways says cyberattack on Sunday affected its online freight service

Ukrzaliznytsia (Ukraine's state railways), the largest cargo carrier in the country, announced on Tuesday that its online freight service had been hit by a massive cyber attack. The first outage reported was on Sunday, when the rail company informed passengers of a problem with its IT system. They were told to purchase tickets at the station or on the train. Later, the company said that its online systems were subjected a targeted large-scale cyber attack. Since the Russian invasion of Ukraine in 2022, trains have become the primary mode of transport for both domestic and international travelers. They are also...

Oil Pipeline

Transportation

Transportation

Two sources claim that talks on restarting Iraqi Kurdish crude oil exports have hit a snag.

Two sources who have direct knowledge of this matter, but spoke on the condition of anonymity, said that the talks to restart Kurdish crude oil exports via the Iraq-Turkey pipe are at a standstill due to a lack in clarity regarding payments and contracts. Negotiations, which began in late February, failed to resolve a standoff of nearly two years that had halted the flow of goods from Iraqi Kurdistan, in the northern part of the country, to Turkey's Mediterranean Port of Ceyhan. Last month, it was reported that the Trump administration has asked Iraq for a restart of the shipments...

Transportation

Transneft, Russia's oil company, says its net profit for 2024 will be down 5% due to tax increases

Transneft, the Russian oil pipeline monopoly, said Friday that its net profit fell by around 5% to 287.7 roubles (about $3 billion) last year due to rising costs and taxes. In an effort to reduce its budget deficit, the Russian government increased taxes on corporate profit. Transneft has increased its tax rate from 20% to 40% for the years 2025-2030. Transneft operates Russia's 42,000 mile (67,000 km) long oil pipeline network. It has stated that it could run out of cash in 2026, and it may have to suspend large investment projects because of the tax increase. The company reported...

Transportation

Ukraine State Railway says that online services have been partially restored following cyberattack

The company reported on Thursday that the largest Ukrainian railway, Ukrzaliznytsia (state-owned), has partially restored its online services following a massive cyber attack which affected passenger and freight transportation systems. The first outage reported was on Sunday, when the rail company informed passengers of a problem with its IT system. They were told to purchase tickets at the station or on trains. Later, the company said that its online systems were subjected a targeted large-scale cyberattack. Ukrzaliznytsia announced on Telegram that the online sales system has been restored as a backup for the purchase of train tickets or their refund....

Transportation

Uganda's EACOP Pipeline worth $5 billion gets a funding boost

EACOP Ltd, the company responsible for building Uganda's EACOP oil pipeline, announced on Wednesday that it had closed its first external financing round from a consortium of institutions which included commercial banks and Afreximbank. Standard Bank, Stanbic Bank Uganda, KCB Bank Uganda, and the Islamic Corporation for the Development of the Private Sector in Saudi Arabia are among the financiers. The statement stated that "the successful closure of this first tranche is a significant landmark." The statement did not give a value to the financial backing. Uganda's Energy Minister said in October that the partners of the $5 billion East...

Transportation

Venture Global seeks authorization for Calcasieu Pass, TransCameron Projects

Venture Global Inc, a U.S. developer of LNG, has requested permission from federal regulators to start operations at its Calcasieu Pass export facility and TransCameron pipe project. This is the final step to moving into commercial operations. The U.S.'s second largest LNG exporter has told the Federal Energy Regulatory Commission that it believes it can produce at the design capacity of the plant after making significant progress with remedial work. Calcasieu Pass is confident that it has completed all the required paperwork Documentation demonstrating readiness to begin service of the remaining facility," the FERC filing stated. According to the filing,...

Transportation

What is the US and Europe doing in response to the Houthi attacks on the Red Sea?

In a group message that accidentally revealed plans by the U.S. for an attack on Yemen's Iran aligned Houthis, senior Trump officials including Vice President JDVance and Defense Sec Pete Hegseth accused Europe "freeloading" The attacks by the Houthis on ships in Red Sea have impacted trade between Europe and the U.S. What is the situation in the Red Sea? In response to threats by the Houthis to resume attacks on ships crossing the Red Sea, the U.S. launched massive military strikes against them on 16 March that resulted in the death of at least 31 people. The Houthis, a...

Transportation

What might happen to the Russian energy market if sanctions were lifted?

One of the topics on the agenda is a possible relief in the sanctions against Russia, which includes its vast energy sector. The oil and gas sector is a major source of revenue for Moscow. It has been under Western sanctions since 2014 when Russia annexed Crimea from Ukraine. These sanctions were tightened considerably after Russia invaded Ukraine 2022. Washington announced its most severe round of sanctions in January 2010. Here are some implications of a possible reversal. RUSSIA TRADE with US and EU Before the war, Russia was the biggest supplier of fuel oil in the United States. It...

Transportation

Britain approves new £13 billion Thames Tunnel

The UK gave its approval to a new road tunnel worth 10 billion pounds ($13 billion) for the River Thames, located in southeast England. This is the latest in a series of infrastructure projects to boost a stagnant economy. Since it was elected in 2017, the Labour government of Britain has placed speeding up planning to deliver new energy projects and transport projects as a priority. It also supports expansions at London's Heathrow Airport and Gatwick Airport. Heidi Alexander, Minister of Transport, granted approval for the Lower Thames Crossing consisting of 23-kilometre (14.5 mile) long roads and a tunnel, according...

Transportation

Shell: 'Uncertain' outcome for Russian claim of 1.5 billion Euros

Shell's annual report, published on Tuesday, said that the outcome of a Russian prosecution asking Shell to pay Gazprom 1,5 billion euros ($1.62billion) for alleged unpaid deliveries of gas in 2022 was "uncertain". Shell had a number of projects in Russia, before Moscow sent troops into Ukraine to conduct what they called a "special military operation" in February 2022. Shell had a stake on the Pacific Island of Sakhalin, which is controlled by Kremlin Gazprom. Shell left Russia after Russia took control of the plant as a result of sanctions imposed by Western countries. This meant that Shell had ended...

Transportation

Grid operator's forecasts: Swedish power flows will change direction in 2029

Transmission system operator (TSO), the country's TSO, said that the flow of electricity, which traditionally runs from north to southern, will reverse from 2029, due to a projected increase in industrial activity to the north. Svenska kraftnat, which presented its latest market analysis, said that the majority of Sweden's wind and hydro power is located in the north and is traditionally sent to southern Sweden where electricity consumption was highest. "But as most of the new electricity-intensive industries are established in northern Sweden, this means a reduced electricity surplus," Daniel Gustafsson, head of power system at the TSO said in...

Transportation

After drone attack, fire rages at Russian oil depot that serves Caspian Pipeline

The fire that raged at an oil depot hit by a drone in southern Russia for the fifth day on Sunday, according to the regional administration, continued to burn as firefighters attempted to put out the flames at the facility, which delivers Russian crude into the Caspian Pipeline. Russia accused Ukraine of being responsible for the drone attack that took place on 19 March, claiming Kyiv violated a ceasefire proposed on attacks against energy sites. The depot is only a few kilometers away from the Kropotkinskaya Pumping Station of the Caspian Pipeline Consortium, which was also struck by a drone...

Transportation

The Kremlin maintains that the Russian moratorium on Ukrainian attacks on energy remains in place, despite Kyiv’s actions

The Kremlin announced on Monday that the Russian moratorium on attacking energy infrastructure in Ukraine was still in effect despite reports of Ukrainian attacks against Russian energy infrastructure targets. Dmitry Peskov, spokesman for the Kremlin, told reporters that Russia is monitoring the situation. The United States can do the same thing and reach its own conclusions. In a phone call on Tuesday, last week, the Russian president Vladimir Putin and his U.S. counter-part Donald Trump agreed to observe a 30 day ceasefire on Ukrainian targets for energy. Peskov replied that "there haven't been any other orders given by the president"...