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Bangladesh Gas Supplies Improve after LNG Terminal Restart
The gas supply to Bangladesh's grid has increased after a floating terminal for liquefied natural?gas operated by U.S. based Excelerate Energy partially reopened operations on Wednesday. A fire had closed the facility?for more than?two weeks. Petrobangla officials said that the restart of a regasification plant adds around 115 millions cubic feet of natural gas per day to the grid. This will ease shortages which disrupted industrial production, household supplies and power generation. A fire on July 21 damaged the electrical cable systems that were linked to FSRU's boiler operations. This caused a 450 million cubic foot gas cut per day. Bangladesh already faced a tighter LNG supply market because Qatar declared force majeure on some cargoes during the Iran conflict. This prompted Dhaka, amid rising prices and Strait of Hormuz shipper risks, to look for alternative LNG supplies. Petrobangla officials stated that the partial restart was the first step in restoring full capacity to the terminal and that the gas pressure should gradually improve. Excelerate Energy engineers are continuing to repair equipment while importing replacements imported from abroad. Excelerate Energy did not respond immediately to a comment request made outside of its business hours. The terminal is one of Bangladesh's floating LNG import terminals and regasifies between 500 million and 550 millions cubic feet of LNG each day. Bangladesh imports LNG to meet its rising energy demand and offset the declining production of domestic gas. The country uses between 3,800 and 4,000 million cubic foot of gas every day, but the average supply to the national grid is around 2,600 mmcfd. (Reporting and editing by Kirsten Doovan; Ruma Paul)
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Maguire: Why natural gas won't disappear from the US power grid
Since years, the narrative of the energy transition has emphasized a future that is dominated by batteries and renewables, with natural gases eventually falling into the background. The evolution of the U.S. energy system, however, suggests a more complex reality. Solar and wind power is increasing rapidly, and their share in electricity production increases every year. As power demand increases, driven by data centers, electrification, and new manufacturing investments, natural gas is still deeply embedded in the U.S. Grid. There are many reasons, both economic and practical: abundant domestic resources and infrastructure, unprecedented operational flexibility, and the growing demand for reliable electricity around-the-clock. They suggest that natural gas will not be able to give up its dominant role in the energy sector any time soon. Fuel to Burn The United States has a surplus of natural gas. The shale boom transformed the United States from a major gas importer to the world's largest natural gas producer. The U.S. has massive reserves of gas in the Permian basin, Appalachia’s Marcellus and Utica Formations, the Haynesville Shale and other producing areas. These reserves provide hundreds of trillions cubic feet (technically recoverable) of gas resources, and almost 584 trillion cubic foot of proven reserves. The country's resources are so rich that production continues to be near records. This abundance is important. The United States, unlike many other countries who must import fuel supplies to generate electricity, can do so with an abundant and relatively cheap domestically-produced resource. This is a huge advantage for utilities and policymakers who are concerned with energy security. PIPELINE PRIMACY Infrastructure is another benefit of natural gas. The U.S. built an extensive system of pipelines, power plants, processing plants, and storage facilities designed around gas production. Gas-fired generators are already available in the country, and there is a nationwide pipeline system that can transport fuel from regions of production to markets across the nation. The infrastructure represented trillions in investment. Although renewable energy can be built relatively quickly, replacing the reliability services provided by existing gas systems would require huge additional expenditure on transmission lines and storage capacity, as well as alternative dispatchable generation technology. Existing assets are important in energy markets. Few energy systems have assets as vast as the American natural gas network. RELIABILITY IS KEY! Gas isn't about underground reserves or pipeline infrastructure. It's flexibility. Electric grids must maintain a balance between demand and supply. Generation must be matched with consumption every second of the day. Even though solar and wind energy are becoming more abundant and cheaper, they only generate electricity when the weather cooperates. The solar production decreases each evening. Wind production can vary dramatically over hours, days, and even weeks. Gas-fired plants can fill this gap. Modern gas turbines are able to ramp up output quickly when required. Gas plants are often the shock absorbers for the grid during periods of extreme heat or cold weather. It is difficult to duplicate this operational flexibility at scale. Batteries are?expanding quickly and are proving to be valuable in managing fluctuations of short duration. Batteries are expensive and cannot be used for long-term backup. Also, technologies that can provide reliable power during extended periods with low renewable outputs are limited. Grids need electricity at all times, not just during favorable weather conditions. Demand for flexible gas is increased by the use of renewables It may seem counter-intuitive but the success of renewable energies could be one of the biggest drivers of gas demand. Grid operators are increasingly in need of resources to balance intermittent supply as solar and wind power enters the system. Evening demand can spike sharply after a daytime surplus. Long periods of cloudiness or low wind can cause large generation deficits. The greater the amount of renewable energy that is available in the system, then the more valuable it will be to have resources ready to respond quickly when the renewable output drops. Gas and renewable energy are complementary technologies, not direct competitors. When available, solar and wind can provide electricity at a low cost. Gas is a reliable alternative to solar and wind when they are unavailable. This partnership helps to explain why many areas continue to add renewable generation, while simultaneously relying upon gas-fired capability to maintain system stability. DEMAND GROWTH CHANGES ALLTHING Gas is also likely to stay in place because the U.S. power grid is facing a challenge that it hasn't faced for years: a rapidly increasing electricity demand. After a decade or so of relatively flat consumption rates, utilities now have to scramble to accommodate data centres, artificial intelligence infrastructures, semiconductor manufacturing, industrial relocation efforts, and transportation electrification. The industry is increasingly predicting sustained growth in load through the 2030s. To meet the demand, you need a generator that you can deploy quickly and that has a high utilization rate. Construction timelines for nuclear projects are often long. Permitting and completing transmission projects can take many years. The cost of large-scale storage is high, and most coal plants in the U.S. are several decades old. Gas plants are a familiar technology, with mature supply chains, and a long history of operation. These advantages are of great importance to utilities that face immediate reliability issues. ECONOMICS STILL MATTERS Economic arguments are also compelling. The U.S. Natural Gas prices are relatively low in comparison to many other international markets. This has been the case for most of the last decade. The cost of building gas-fired power plants is also lower than that of other alternatives, such as nuclear energy. It is also important to note that a large part of the fleet already exists. Utilities don't need to spend money on new systems in order to continue using assets already built and connected to grid. The economic inertia suggests that natural gas will continue to be a major component for the electricity sector. This does not mean that the energy transition has stalled. In the coming decades, wind, solar and batteries will account for an increasing share of U.S. electric supply. There is a difference between a fuel that loses market share and one that becomes irrelevant. The growth of natural gas in the US power sector is no longer undisputed. Its combination of?abundant domestic supply, existing pipeline, affordability, and unmatched operational versatility gives it something that no other resource currently has: a credible claim of indispensability. The grid of the future may be cleaner and renewable than that of today. If reliability is a non-negotiable requirement, then natural gas will remain a key component of the grid. These are the opinions of a columnist, who is also an author. This column is great! Check out Open Interest, your new essential source for global financial commentary. Follow ROI on LinkedIn, X and X. 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Cheniere Energy announces a rise in profits for the second quarter on increased LNG demand
The demand for LNG helped Cheniere Energy report a rise in its second-quarter profit on Thursday. This sent the company's shares up by 2% in premarket trade. According to the U.S., the U.S. is the largest exporter in the world of supercooled fuel, with 15 billion cubic feet of LNG per day (bcfpd). Energy Information Administration. This is up by?26% since?2024. After taking office, U.S. president Donald Trump lifted the moratorium on new LNG export permits. Regasification revenue was flat at $34 million. The company's total LNG revenue was $5.64 billion, up from $4.52 billion the year before. Houston-based company, Texas, posted a $3.07 billion net profit for the quarter ended June 30 compared to $1.63 billion the year before. (Reporting from Pranav Mathur, Bengaluru. Editing by Vijay Kishore.)
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Challenges facing new Air India CEO Tewolde Gebremariam
Air India, which is owned by Singapore Airlines and the Tata Group, named Tewolde Gebremariam its new CEO. This comes at a time of great challenges for Air India. From record losses to safety lapses, they have been under intense scrutiny from regulators. Here are the major challenges that former Ethiopian Airlines CEO,?Mr.?Mahmoud?Al-Ghani?faced: SAFETY & COMPLIANCE The Air India Boeing 787 crash in Ahmedabad, June 2025 that killed 260 people has increased scrutiny on the airline's safety culture and operations. Indian regulators have reprimanded Air India over lapses, including the operation of an Airbus A320 in multiple flights without having a valid airworthiness review certificate and not conducting required checks on emergency equipment. In December, the airline admitted that it had to improve its process discipline, culture of communication and compliance. Air India Group has recorded record losses of over $2 billion for the fiscal year 2025-2026 that ended in March. This compares to a loss a year ago of around $1.13 billion. Since its return to privatization in 2022, the airline hasn't reported a profit. Singapore Airlines (SIA) auditors flagged signs that its investment in the 'carrier could be impaired due to difficult operating conditions and uncertainty over geopolitical issues, but SIA stated a formal evaluation concluded there was no need for a write-down. GEOPOLITICAL DISRUPTION & AN UNPROFITABLE NETWORK Air India has been forced to cancel flights, increase routes and reduce some of its most important international services due to the ban by Pakistan on Indian airlines from using its airspace until April 2025. Foreign carriers have expanded as a result of the disruption. MODERNISING FLEET Air India acquired an aging fleet and cabins that were outdated after years of decay. The shortage of seats, components and supplies has slowed down the refurbishment programme. The airline has retrofitted the cabins of 27 of its older Airbus A320neos, and is currently upgrading its widebody fleet. Air India has over 500 aircraft ordered. ? Tata, the airline's owner, pushed it to reduce costs and record losses. Campbell Wilson, Tewolde’s predecessor, consolidated Tata’s aviation business by merging Vistara with Air India, and combining all of its low-cost carriers into Air India Express. N. Chandrasekaran, Chairman of Tata Sons, has said that the airline is entering a critical execution and expansion period.
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Sweden's highest court allows transfer of ship to Ukraine
Sweden's highest court announced?on Thursday that it had upheld an?order that a cargo ship seized in the Baltic Sea this year can be?given to Ukraine where it is suspected illegally transporting grains from Russian-occupied territories. The Supreme Court dismissed the appeal of owners of the?the Caffa ship, which was seized off southern Sweden in March on suspicion of sailing under a false flag and violating maritime safety and ship laws due to an?lack seaworthiness. The Ukrainian government has been looking for the ship in connection with a suspected war crime investigation involving the removal and appropriation of property from Russian occupied territory. Lower Swedish courts stated that these alleged actions may constitute a crime of war?under Swedish Law, meaning Sweden can transfer the vessel and any related evidence to Ukraine. The Supreme Court will not grant leave to appeal. The Court of Appeal decision is final, the Supreme Court said in an?August 4 ruling. Police said that the majority of the crew on Caffa were Russians. (Reporting and writing by Anna Ringstrom; editing by Terje Solsvik).
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Russia's'safari-like' attacks on civilians in Ukraine's Zaporizhzhia are an attempt to create panic amongst the people.
Two?Russian bombs that hit Kateryna lahuta's business in Zaporizhzhia, Ukraine's southeast city last month shattered any semblances of security the entrepreneur had. Moscow's forces, since the beginning of their invasion in 2022, have been positioned just south of Zaporizhzhia - a major manufacturing city with 700,000 residents - and hammering at it with drones and missiles. A new wave of attacks have made life more dangerous for the residents as part of Russia's escalating war in Ukraine. "Even a half year ago, it was still frightening, and there were strikers. Lahuta said, "But it wasn't this way." "Now, it's a'safari.'" Ukrainians use the term "safari" to describe drones that 'hunt down' vehicles or civilians in the streets. Kherson residents, who live on the front lines of the conflict, have suffered for years from this. Reporters visiting Lahuta’s business were forced to take cover when they heard the buzzing noise of a drone. These small, agile helicopters drones are loaded with explosives and controlled by video. They have turned Ukraine's front line into a "kill-zone". Attacks aimed at scathing the public Russia denies targeting civilians during the war that began in 2022 with its full invasion of Ukraine. Standing in the charred remains of the processing plant that supplied Lahuta's stores, Lahuta claimed Russian attacks had driven customers away and made planning for the future near impossible. "Everyday is a battle." Officials?say that Russia wants to create panic and damage infrastructure by increasing the frequency of strikes in the city. They also claim they are using FPVs, for the first, as well as larger, more destructive, glide bombs. Zaporizhzhia, the capital of Zaporizhzhia, is one of four Ukrainian provinces that Russia has claimed to be its own despite only controlling three quarters. Russian ground troops failed to advance in a narrow corridor, south of the city. The Ukrainian military had put up a stiff resistance there for months. Governor Ivan Fedorov said that Russian FPV-drones attack groups of civilians and vehicles, particularly in the south of the city. "The enemy's priority is to put maximum pressure on civilians," he stated during an interview conducted in an underground school that was built as a bomb shelter. The range of FPV drones has been extended, while air-launched missiles such as the one that hit Lahuta’s business can't be intercepted unless more advanced air defences are in place. The Russian Defence Ministry didn't immediately respond to an inquiry for comment. KILLER DRONES TARGET ZAPORIZHZHIA BUSES Cafes and commuters in central Zaporizhzhia give a feeling of normality, despite the frequent air raid alerts. Even on Friday evenings the city is subdued. Many office and residential building in the vicinity of the engine-building giant Motor Sich bear the scars from repeated bombardment. In southern Kosmos, roads will be covered with drone netting in order to protect them from FPV drones which have been hitting vehicle roofs and windshields over the past few weeks. Two private bus drivers who drive a route serving Kosmos say that an increase in attacks has scared drivers and passengers. One of the drivers who refused to give his name said that drone netting would not save him from the "big ones". Fedorov stated that less than 5% enemy FPV drones are able to get past Ukrainian air defences. On the worst days - which are usually several times per month - that could still be up to ten drones injuring or damaging people. Volodymyr Sukachov, director of the city transit authority, has said that they have begun to experiment with drone monitors for bus drivers and are testing new shatterproof glasses. He said that 12 city-run tramcars or buses were damaged this year by FPVs and larger munitions. However, there is no plan to reduce service. Ania Syvova (34), a seamstress from the south of the capital with a husband who is fighting in the conflict, witnessed an FPV drone smash into a bus as she returned home last month. She said, "Maybe I've got a good angel," with a smile. Residents learn to live with danger Syvova said that she and her child, who attends an underground kindergarten with a 6-year-old, have both learned to adapt to daily dangers. She said, "It's awful but we are used to it." "For the moment, unfortunately, there is no other one." Ihor Terekhov, the mayor of Kharkiv (northeast Ukraine), said that Russia is using similar tactics to attack other frontline cities. FPV drones have been "one of the most important instruments of terror" in Kharkiv. He stated that 45 strikes were registered in the last month. Fedorov stated that Russia also attacks Zaporizhzhia 4 to 6 times per day using glide bombs. He told Ukrainian TV that eight bombs were dropped by Russia on residential areas in an hour-and-a-half, killing one and wounding 31. Residents have described recent attacks as occurring around noon or early evening. Tetiana (38), a government employee from the area, told reporters that Russian forces had "gone crazy" and bombarded her neighborhood six times in a single week last month. She was torn about whether she wanted to stay or go, as people depended on her to keep the services running. She said "I'm already completely empty" as she glanced at the charred car shells littered in her yard. "No emotions." (Editing by Daniel Flynn & Kevin Liffey).
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Fraport exceeds earnings expectations as overseas airports compensate for Frankfurt weakness
Fraport, the German airport operator, surpassed expectations for its second quarter earnings on Thursday as a result of a growth in its international airports that helped to offset weakened passenger traffic at Frankfurt. In a LSEG survey, analysts had predicted that second-quarter EBITDA would rise 0.7% to 386.3 millions euros ($446million), but the actual result was?372million euros. EBITDA for the first half of 2013 grew to 582.3 millions euros. The first-half revenue increased 4% to 2.1 billion Euros. The number of passengers at Frankfurt Airport, Germany's largest airport, decreased by 0.8% due to strikes and disruptions resulting from the conflict in the Middle East. Most of Fraport's South American and South-Eastern European airports saw an increase in passenger numbers, but Antalya traffic also decreased. The results show that despite disruptions in some markets, air travel demand remains strong. However, growth in Frankfurt continues to lag behind other overseas locations. In April, hundreds of daily flight cancellations were caused by pilot and union strikes at Lufthansa. The airline accounts for the majority of seats available at Frankfurt Airport. According to Frankfurter Allgemeine Zeitung, this affected around 700,000 passengers. Fraport shares were up by?1.1% in pre-market trading at 05.36 GMT.
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Qantas and the pilots' union have reached a provisional agreement on pay in talks
Qantas, an Australian pilots union and the airline announced on Thursday that they had reached a?provisional agreement? on a wage package after long-haul?pilots voted this week in favor of industrial action. This agreement would cover approximately 1,700 pilots flying Qantas Airbus A380, A330 and Boeing 787 jets on long-haul routes. The short-haul crews are covered by a separate contract. The Australian and International Pilots Association has expressed its satisfaction with the progress made during discussions at Australia's industrial arbitrator, the Fair Work Commission. "A broad agreement has been reached" (with Qantas). AIPA President Andrew Marshall stated by email that they hoped the agreement could be formalised within a few days. Qantas said it was happy to have reached "in principle" agreement on a deal which would provide significant pay increases, improved rostering and more career advancement opportunities while balancing its needs. After negotiations on pay and conditions of employment failed to yield an agreement, a majority among the long-haul airline pilots approved a protected action ballot. A Qantas union for ground workers announced on Thursday that 650 workers will vote soon?on industrial actions. In Australia, protected industrial action, such as strikes or work stopspages, is only possible if the Fair Work Commission approves a ballot that will be voted on by union members. Any industrial action must be announced in advance to the employer. Reporting by Renju José in Sydney, Editing by Jamie Freed
Turkey's Pasifik Eurasia, China Railway unit sign rail transport deal
Pasifik Eurasia Lojistik announced that it had signed a railway transportation agreement with a subsidiary China Railway for the launch of cargo train services on a corridor connecting China to Europe via Turkey, bypassing Russia.
The initial plan is to operate 10 train services, and eventually 1,000.
It is anticipated that the Middle Corridor will see a significant increase in freight volume thanks to the partnership with China's state-owned railway logistics company.
The Middle Corridor, a China-Europe freight route that is promoted by the West, includes Kazakhstan, Azerbaijan and Georgia, as well as Turkey.
Fatih Erdogan, Chairman of Pasifik Holding's parent company, said that the agreement would provide time and cost savings compared with the North Corridor through Russia.
Erdogan stated that the cost of shipping through the Middle Corridor is 500-1000 dollars cheaper per container than the Northern Corridor after the Ukraine-Russian war.
The agreement will also reduce the time it takes to travel from China to Europe. This is currently between 25-35 working days, as opposed 40-53 on the other route. (Reporting and editing by Daren Butler, Ed Osmond and Ceyda Kaglayan)
(source: Reuters)