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SEFE, a German company, and Ksi Lisims Liquefied Natural Gas (Canada) Ltd. have agreed to a long-term supply of LNG
The German state-owned gas company SEFE announced on Wednesday that it had agreed to buy 1 million tonnes of liquefied?natural?gas from Canada's Ksi Lisims?LNG to diversify its supply amid unstable global energy markets. According to the memorandum signed on Wednesday deliveries will begin in early 2030s and last up to 20 years. Katherina Reiche, German Economy Minister, said that the deal was a sign of a "strategic energy partnership" with Canada. She added, "By working together more closely, we diversify our supply chain and make our economies more resilient to global risks." The Ksi Lisims Project is backed by a consortium of Canadian natural gas producers, namely the Rockies LNG Consortium. They also own the land. The facility will be Canada's second largest LNG export facility, with a capacity of 12,000,000 tonnes per year. SEFE, which was formerly owned by Gazprom, has been nationalised by Germany after the Russian invasion of Ukraine in 2022. The company, like Uniper is also tasked with diversifying the energy supply following the cessation of Russian 'pipeline' deliveries and the recent war in Iran that further disrupted the energy markets. SEFE has already signed several LNG contracts, including with Venture Global in the U.S., Southern Energy S.A. of Argentina, and Turkey's BOTAS state energy company. Last month, it was reported that European buyers, such as Uniper, were 'interested in LNG from Canada’s Pacific Coast, which would be shipped via the Panama Canal to diversify energy supply. (Reporting and Editing by Madeline Chambers).
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American Airlines' resilient demand cushions fuel price hit
American Airlines has maintained its full-year profit forecast despite a sharp rise in fuel costs, according to CEO Robert Isom at the Bernstein Investor Conference on Wednesday. He said that higher revenue, corporate travel and premium demand helped cushion the blow of rising oil prices. Isom stated that there is "no doubt" the demand for travel?is K-shaped, with high-income customers outpacing lower- and middle-income customers. He said that travel is growing for all income levels, with American Airlines about 80% booked in the second quarter. Corporate travel has increased 13% over the past year, and leisure travel is "incredibly" high. American Airlines shares rose 2% in the morning. Last month, the carrier cut its profit forecast for 2026 due to rising jet fuel prices. It said it expected its fuel bill this year to increase by over $4 billion. It predicted a range of '2026 results from a loss between 40 cents and $1.10, down from the previous forecast of a profit between $1.70 and $2.70. Isom stated that the airline expects second-quarter revenues to increase 15% from a year ago, on a capacity growth of?about 5%. This would imply?roughly a 10% growth in unit revenue. Reporting by Rajesh Kumar Singh from Chicago and Shivansh Twary from Bengaluru, with editing by Gus Trompiz.
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Sources say American Airlines will double the number of employees at its India tech hub.
Two people with knowledge of the matter said that American Airlines Group, the U.S. carrier, plans to double its headcount at its India technology center to 800 by early next year. Southwest Airlines, a rival airline, announced last week that it plans to expand the global capability center in Hyderabad to 1,000 employees within the next few decades. JPMorgan Chase and Walmart, McDonald's and Nvidia, along with Eli Lilly, have also expanded their technology operations in India, to tap into its talent pool. These hubs, which were formerly mainly back-office functions, now handle core functions such as engineering, R&D and finance. American Airlines will set up its Hyderabad hub in 2024, and it employs 400 people, who are mainly focused on "software engineering, artificial intelligence and cybersecurity," according to the sources. The airline stated that it plans to continue hiring, but didn't share any specifics on the headcount. It only said that the hub is home to "several hundreds" of employees and is part of the global technology network along with U.S. teams. The company said that teams in Fort Worth, Phoenix, and Hyderabad worked closely with the business on digitizing processes, deploying new tools to improve'speed to market and outcomes for business, and building a more resilient airline and better experience for both team members and customers. It added that the airline has increased its IT investment and U.S. technology headcount each year since 2021. According to a report by 2026 Nasscom and Zinnov, India is the largest GCC hub in the world, with more than 2,100 centers that employ?about 2.36 millions people, generating revenue of?nearly 100 billion dollars.
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Airline cancellations in response to Middle East conflict
Middle Eastern carriers increased capacity following the disruption caused by the Iran War, and airlines outside the Gulf have rerouted flights between Europe?and Asia away from major hubs in that region. The latest flight information is listed below alphabetically: AEGEAN AIRLINES On May 21, Greece's biggest carrier will resume flights from Heraklion to Tel Aviv, as well as Rhodes and Larnaca. Thessaloniki-Tel Aviv flights are cancelled up until June 26. Erbil, Baghdad and Dubai flights are all cancelled until August 31. AEROFLOT The Russian flag carrier announced that it will resume flights to?the United Arab Emirates? from June 1. AIRBALTIC AirBaltic, a Latvian airline, has announced that flights to Tel Aviv are cancelled until the 28th of June. Dubai flights are canceled until October 24. AIR CANADA The Canadian carrier has canceled flights to Tel Aviv, Dubai and Abu Dhabi until September 7. AIR EUROPA Spanish Airlines has cancelled all flights to Tel Aviv up until the 28th of June. AIR FRANCE-KLM Air France has suspended Tel Aviv flights up until June 7. Air France has suspended its flights to Tel Aviv until June 7. KLM suspends flights to Riyadh, Dammam and Dubai until August 2 and until July 12. CATHAY PACIFIC Hong Kong Airlines has suspended flights to Dubai, Riyadh and cargo services to Dubai, Riyadh and Dubai until May 31, and the Hong Kong airline will continue to operate all scheduled flights beyond June. The airline plans to continue all scheduled flights after June. The U.S. carrier extended the suspension of service for the Atlanta-Tel Aviv routes through December 18, and plans to resume New York JFK-Tel Aviv flights starting September 6. The launch of the Boston-Tel Aviv flight, originally scheduled for late October, has been postponed until further notice. EL AL ISRAEL AIRLINES All flights to Dubai have been cancelled until 31 May. FINNAIR It has cancelled all flights to Doha until July 2 and continues to avoid the airspaces of Iraq, Iran Syria, and Israel. The airline will not resume Dubai flights until October. IAG-owned, British Airways has delayed the resumption of flights to Dubai and Doha until August 1. It also plans to reduce Middle East flights when services resume and permanently drop Jeddah from its list of destinations. The carrier also plans to reduce service to Dubai, Doha and Riyadh to just one flight per day. Iberia Express, the Spanish low-cost carrier of IAG, has cancelled all flights to Tel Aviv until May 31. JAPAN AIRLINES Japan Airlines has suspended its scheduled Tokyo-Doha and Doha-Tokyo flight until July 31, and until August 1. The Polish airline has suspended its flights to Tel Aviv till May 30. The airline has also cancelled its flights to Riyadh up until June 30, and to Beirut between March 31 and June 27. LOT will operate its winter route from Dubai to Riyadh in October. LUFTHANSA GROUP Austrian Airlines plans to restart flights to Tel Aviv on June 1. SWISS, ITA Airways, and Lufthansa plan to resume flights in July. Brussels Airlines suspended its operations until October 24, ITA Airways, SWISS, and Lufthansa will continue to suspend flights to Dubai through September 13. Until October 24, SWISS, Austrian Airlines, Brussels Airlines, Lufthansa and SWISS have suspended their flights to Abu Dhabi and other destinations, including Amman, Beirut and Dammam as well as Riyadh. Erbil, Muscat, Tehran and Riyadh are also affected. Eurowings, a low-cost carrier, has suspended flights from Tel Aviv to Beirut and Erbil to June 22, as well as Dubai to Abu Dhabi until October 24. ITA Airways has also extended its suspension of flights to Riyadh through June 30. MALAYSIA Airlines will resume limited service to Doha on July 2. NORWEGIAN AIR The low-cost carrier has delayed the launch of its Tel Aviv & Beirut services until June 15 PEGASUS Pegasus Airlines, Turkey's national airline, has cancelled all flights to Iran, Iraq Kuwait, Bahrain, Dammam Riyadh Abu Dhabi Sharjah until June 1. QANTAS Australia's flag-carrier has added flights to Rome, Paris and London to meet a?increase in demand for European destinations. The number of flights to Paris will rise from three to five weekly return flights, and the Perth to Singapore service will go from daily to 10 per week. A new schedule will be implemented gradually for flights starting in mid-April. It will run through late July. ROYAL MAROC Moroccan carrier announced that flights to Doha and Dubai will be cancelled until 30 June. SINGAPORE Airlines In order to meet increased demand, the?carrier extended their Singapore-Dubai flight cancellation until August 2. They also added?services along the Singapore-London Gatwick route and Singapore-Melbourne route from late March until 24 October. TURKISH AIRLINES SunExpress, Turkish Airlines joint venture with Lufthansa has cancelled flights until June 30, including to Dubai, Bahrain and Erbil. WIZZ AIR Low-cost airlines will resume their flights to Tel Aviv from May 28, but flights to Dubai and Abu Dhabi, as well as flights to Amman in Jordan remain suspended until the middle of September. All flights to Medina have been suspended permanently. (Compiled by Josephine Mason and Jamie Freed. Elviira Loma, Tiago Branao, Agnieszka Olenka, Bernadette HOG, Boleslaw LaSocki, Romolo Tosiani. Matt Scuffham and Alexander Smith edited by Milla Nissi, Susan Fenton, Jonathan Ananda, Milla Nissi-Prussak, and Jonathan Ananda.
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Starlink and Amazon can bid for EU mobile Satellite Spectrum, Commission says
The European Commission announced on Wednesday that non-European satellite companies such as Elon Musk’s Starlink or?Amazon’s low-earth orbit business could bid for mobile satellite frequency. This leaves the door open to U.S. firms while reducing the spectrum share they can acquire. Concerns about China's technology rise and the dominance by U.S. tech titans during a period of tensions between the US and Europe are driving the EU to promote European companies in order to increase the bloc's techno-sovereignty. The push was marked by divisions within the Commission. Some wanted to be more aggressive, while others wanted a more progressive approach. The EU executive confirmed a report that two thirds of the spectrum available will be shared equally between EU operators and non-EU for commercial use. This is a compromise, after at least one EU commissioner wanted to exclude U.S.-based operators. Commission: The Commission stated that the remaining third of the IRIS2 satellite array will be used for security and military purposes. IRIS2 was developed as Europe's answer to Starlink. The EU executive stated that its decision is to allow new operators onto the market. Under a transitional phase, licenses of U.S. firms Viasat & EchoStar are being extended by two years beyond their current expiration date in May 2027. The 2GHz frequency band is perfect for direct services, allowing users bypass telecoms providers. It also provides critical communication capabilities and ensures access to high-speed Internet in remote areas. "We want to boost Europe's Competitiveness. We want to increase Europe's security. We want to embrace the new technological possibilities. Henna Vikkunen, EU tech chief, said that all this was done while taking into consideration the?changing geopolitical environment. "Our proposal ticks these boxes." Virkkunen dismissed any criticism from the United States that the proposal could be aimed at U.S. firms. "We are transparent and fair with our proposal also here," she said. In the future, the Commission may also allow British and Norwegian companies?to acquire a part of spectrum. Before it can be made law, the latest proposal must be worked out with EU member states and legislators. (Reporting and editing by Inti landauro and Kirsten Donovan.
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Iran announces draft agreement with US to reopen Hormuz Shipping and end naval blockade
Tehran's state television reported that Tehran had received a?first,?unofficial? framework for a memorandum o' understanding with the United States to end their conflict. According to the framework, Iran will restore commercial shipping in the Strait of Hormuz back to pre-war levels within a month while the United States will withdraw its military forces from Iran and lift the naval blockade. State 'TV' said that the framework which excludes military ships and envisages Iran managing the ship?traffic in the strait with?Oman was not yet finalised, and that Tehran would not take any steps until "tangible verification". The Security Council could approve a final agreement within 60 days as a U.N.-binding resolution. The U.S. and Iran MoU is the result of indirect talks that were launched in the aftermath of the war, which began in February. Pakistan played a key?mediating role between Washington and Tehran. The war broke out after a sharp increase in tensions between Israel and Iran earlier this year. Both sides exchanged missile and drone strikes that disrupted shipping and brought the U.S. into the picture, raising fears of a regional conflict. (Reporting and writing by Elwely Elwelly; Editing by PhilippaFletcher and Toby Chopra).
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Top recycler GMS receives US approval for scrapping ships that are sanctioned
The CEO of the world's largest ship recycler said that Dubai-based GMS won approval from the U.S. Government to scrap four containers ships which were subject to?Iran related sanctions. This could pave the way for Washington to reduce its shadow fleet?of?such vessels. The fact that hundreds of ships are not insured or complying with environmental safety standards has helped Iran and Russia to circumvent sanctions. They also pose a risk of fuel spills and oil leaks along busy sea routes. A mechanism approved for scrapping these vessels can be used to encourage their removal from circulation. This will reduce environmental risks, and help better control trade in crude oil and goods sanctioned. Anil Sharma, founder and CEO of GMS, said this week that GMS had been in talks with U.S. officials for months regarding taking over ships subject to sanctions. Sharma stated that "these are ships moving from a rules-based regime into a non-rules-based, which creates a big problem for all while they are trading." GMS purchased the four ships in its first private seller transaction from an unnamed seller that it claimed was not affected by the sanctions. GMS, a US-incorporated company, purchased a bulk carrier flying the North Korean flag in 2019. However, the vessel was then sold to the U.S. Government at auction for recycling. Companies like GMS are prohibited from dealing with vessels that have been sanctioned. Instead, they use shell companies and name changes to disguise their true ownership. Sharma stated that the U.S. authorities will not grant "blanket licenses" but would rather see money flows and "proper report" in order to make sure the proceeds do not end up at sanctioned entities. U.S. Treasury officials didn't immediately respond to an inquiry for comment. The value of scrapping such vessels can reach tens or even hundreds of millions of dollars depending on their type and weight. GMS reported that the four container ships had crews and insurance and would likely be heading to India to?recycle?. Sharma said GMS also targeted oil tankers that were hit by sanctions but that the business would only be feasible when the U.S. and Israeli war against?Iran ends. He said that the conflict had trapped hundreds of ships in the Gulf, and it was unclear how many Iranian-linked vessels were damaged by U.S. or Israeli airstrikes. The tanker market has been so strong, that people haven't had the motivation to recycle. Reporting by Jonathan Saul, Timothy Gardner and Tomaszjanowski
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The EU has said that European satellite operators will get the majority of mobile spectrum. Non-EU competitors will receive the rest.
The European Commission announced on Wednesday that non-European satellite companies such as Elon Musk's Starlink or Amazon's low earth orbit satellite business can bid for European mobile satelite spectrum next year, but the majority of the frequencies are reserved for European businesses. The EU executive's move aims to allow for new operators on the market after the expiration of licenses held by U.S. firms Viasat and EchoStar next year. The new allocation system is part of an EU push to boost tech sovereignty in the bloc by promoting European players. This was driven by concerns over China's rise as a technological power and the dominance by U.S. technology giants during a period of tensions between the U.S. The 2GHz band is perfect for direct-to-direct communication, allowing users to bypass telecoms providers. It also allows for critical communication capabilities. Henna Vikkunen, EU Tech?chief, said that "high-capacity satellite connectivity widely available is essential for strengthening the resilience of EU communication networks." She said that satellite connectivity was also vital for the government services of Europe and their critical communications. According to the Commission, the new allocation system will allow one-third of the mobile satellite spectrum to be reserved for government use, such as military and security. This will be provided by an EU operator who will integrate this capability with the EU’s IRIS2 array of 290 satellites. IRIS2 is Europe's response Starlink. The EU executive confirmed a report that two thirds of the spectrum would be divided equally among EU and non EU operators for commercial purposes. (Reporting and editing by Inti landauro, Foo Yunchee)
Uganda closes its border with Congo in an attempt to contain Ebola
Uganda's government announced on Wednesday that it has closed Uganda's?border? with the Democratic?Republic of?Congo?with immediate affect to try and limit the spread Ebola.
Senior health official Diana Atwine said at a press briefing that the border would be closed for a period of four weeks - except for Ebola response team, humanitarian and security operations and food and cargo transportation.
Uganda reported seven Ebola patients and one death. The outbreak's epicenter is located in?Congo’s Ituri Province.
World Health Organization reports that the Congo has more than 900 suspected Ebola cases, and 220 deaths. The WHO has declared this outbreak of the rare Bundibugyo Ebola strain a public-health emergency of international concern.
Last week, Uganda's government announced a?first set of?measures to try and limit the?cross-border spread?of the virus. This included suspending?public transport services with Congo.
Atwine announced on Wednesday that anyone?authorized to enter Uganda via the?Congo?would be required to undergo mandatory self isolation for 21 days.
(source: Reuters)