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Poland and Baltics look to protect energy assets after undersea cable cuts
The Baltic states are working with Poland to protect the energy facilities they need as they decouple their power grids from Russia, Lithuania's energy minister told Reuters, following damage to undersea cable televisions in the area. Polish and baltic state-run power grid operators are working on an arrangement to guarantee the smooth running of the decoupled system, and how to repair it if needed, Zygimantas Vaiciunas said in an interview on Tuesday. The goal is to have a common list, and settle on what procedures require to be taken, and settle on sources of financing them. And to implement it as quick as possible, he stated. Polish grid operator PSE individually informed Reuters that talks were underway with the Baltic states - Lithuania, Latvia and Estonia - on joint projects to reinforce the protection of facilities in the area, and on obtaining European Union assistance for them. The Estlink 2 power cable between Estonia and Finland was harmed on Dec. 25, in the latest disturbance to facilities in the region considering that Russia's full-scale invasion of Ukraine in 2022. Russia denies involvement. Finland on Dec. 27 took an oil tanker carrying Russian oil which it stated dragged an anchor through the seabed. Lithuania in reaction is charging elite police to protect its power link with Poland, which is meant to keep power in Baltic states running in sync with continental Europe, and its largest gas-fired power plant, both essential for the decoupling, stated Vaiciunas. This (Estlink 2 damage) had a direct impact on the decision to release authorities resources, Vaiciunas said. We used to believe that personal security is enough, now we see complete government's attention to security is required, he added. Lithuania is working to increase tracking of its NordBalt power link with Sweden, consisting of to guarantee that the cause of any damage is rapidly recognized, the minister stated. The power grids of Estonia, Latvia and Lithuania, members of both the European Union and NATO, are run in a typical grid with Russia and Belarus, a holdover from the times when the nations were ranged from Moscow. The Baltic states expect to decouple on Feb. 8, taking control of the obligation for running their own grid after years of upgrades that were supported by 1.6 billion euros ($ 1.7 billion). of European financing. Poland's PSE also stated it was working carefully with its. Ukrainian counterpart to guarantee the security of the link. linking Rzeszow in Poland with the Khmelnytsky nuclear power. station in Ukraine.
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Consortium providing to take over Malaysia Airports protects 84.1% stake
A consortium consisting of Malaysia's sovereign wealth fund Khazanah and BlackRock's Global Facilities Partners that used to take over Malaysia Airports Holdings stated late on Wednesday it had secured an 84.1% stake of the company. The consortium, which includes Malaysia's Staff members Provident Fund and the Abu Dhabi Investment Authority, said it had reached the level as of Wednesday, moving it decisively towards the 90% limit to de-list Malaysia Airports. A stock filing on Monday revealed the deal had been extended to Jan. 17 from Wednesday. The consortium announced in May in 2015 a deal to get all shares in Malaysia Airports not currently owned by it at 11 ringgit per share, offering the airports operator an equity value of 18.4 billion ringgit ($ 4.09 billion). Malaysia Airports' shares have jumped 40.9% over the past one year, LSEG information showed. It ended Wednesday 1.3% higher at 10.78 ringgit.
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China's foreign ministry is unaware of the ban on US sanctioned ships by Shandong Port Group
China's Foreign Ministry said that it did not know about the decision by Shandong Port Group to ban U.S. sanctioned vessels in its east coast harbours. The group supervises several major terminals located in Shandong province, the main entry port for oil imported from Iran, Russia and Venezuela. These embargoed oil flows accounted for almost a fifth (or 5%) of all imports last year. If the ban was enforced, traders claim it would increase shipping costs for independent refining companies in Shandong. These are the main purchasers of discounted sanctioned oil from the three countries. It could also cause a slowdown in the importation of oil into China. The Chinese Foreign Ministry spokesperson confirmed that they did not know about the U.S. decision reported on Tuesday and reiterated China’s opposition to U.S. sanction. At a press conference held daily, the spokesperson stated that "I am not aware of any relevant information." They added that "China has always been firmly against the United States' lack of respect for international law, its illegal unilateral sanctions, and the use of long-arm jurisdictions without the authorization of the U.N. Security Council." (Reporting and editing by Liz Lee in Beijing, Lewis Jackson in Washington; Alexander Smith)
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China Advancement Bank releases $255 mln for Nigeria rail job
China Development Bank has released a $254.76 million loan to Nigeria for a railway task linking the 2 northern states of Kano and Kaduna, the bank stated, ahead of a check out to the West African country by China's. leading diplomat this week. As part of his yearly New Year tour of Africa, China's. Foreign Minister Wang Yi will arrive in Nigeria on Wednesday. and fulfill President Bola Tinubu and senior federal government officials. on Thursday, Nigeria's foreign affairs ministry said. Construction of the Kaduna-to-Kano rail task, which is. anticipated to cost $973 million, has been slowed by financing. delays. China Development Bank said in a statement on its website. that the loan would supply financial support for the smooth. progress of the 203-kilometre (126-mile) standard-gauge train. When finished, it will supply direct rail connectivity. between Kano, an important northern city in Nigeria, and the. country's capital Abuja, using regional homeowners a safe,. efficient, and hassle-free mode of transport, the bank. said. Nigeria's parliament initially authorized China's Exim Bank as. investor for the rail project in 2020 but the bank later on. withdrew. The Kano-Kaduna train task is part of China's Belt and. Road Initiative and is being constructed by China Civil. Engineering Building And Construction Corporation. It is also anticipated to alleviate motion of individuals and goods in. an area, where road visitors deal with attacks from armed gangs. who kidnap for ransom. China is amongst Nigeria's largest bilateral lending institutions,. supplying loans for roads, rail and power stations.
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Spain's Sanchez says Musk attacks Europe's institutions, prompts hatred
Spain's Prime Minister Pedro Sanchez on Wednesday attacked billionaire Elon Musk for interfering in European politics, implicating him of undermining democracy. The global far-right that we have been opposing in Spain for many years, led in this case by the wealthiest man on the world, honestly assaults our organizations, prompts hatred and freely supports the heirs of Nazism in Germany, Sanchez said of Musk without directly naming him during. Sanchez was speaking in Madrid at an occasion to celebrate the 50th anniversary of the death of totalitarian Francisco Franco. Musk, who is set to serve under U.S. President-elect Donald Trump as an external adviser in charge of improving the government, waded into Spanish affairs on Sunday by commenting on X about a post that said that rape convictions in Spain's. northeastern region of Catalonia were primarily carried out by. immigrants. Sanchez stated that democracy is delicate and faced an. existential danger. If history teaches us anything, it is that freedom is. never permanently conquered, he said.
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China expects increase in New Year travel numbers, in spite of financial doldrums
China anticipates an increase in the variety of people joining the coming Lunar New Year travel rush, with authorities estimating a record 9 billion domestic journeys will be made throughout the 40day duration of celebrations, despite the stuttering economy. State media reported the forecast for the travel season that When individuals generally take a trip to and from, starts on Jan. 14 their home towns. In 2015, authorities also expected 9 billion domestic journeys, however real numbers fell short with around 8.4 billion overall journeys logged. Self-driving road trips are expected to comprise about 80% of journeys this year, followed by train and flight, Li Chunlin, an official with the National Development and Reform Commission ( NDRC), said in a press briefing on Wednesday. This year's Spring Festival comes at a time when China's. economy is in the doldrums, struggling to recuperate from three. years of pandemic control and hamstrung by a prolonged home. market crisis. Exports are a bright spot in growth however face. possible brand-new U.S. tariffs when Donald Trump takes workplace this. month. The government has rolled out a flurry of stimulus procedures. in current months, consisting of rate of interest cuts and a growth. in the scope of a consumer goods trade-in scheme, but has so far. failed to stage a continual healing. Yearly official tallies of trips made during the New Year. travel rush have leapt because the Ministry of Transportation revised. the metric before the 2023 Lunar New Year to include. self-driving road trips on major nationwide expressways. The metric was changed once again before the 2024 celebrations to. consist of trip made on more highways. A total of 2.98 billion journeys were tape-recorded in the 2019. Spring Festival travel rush, the year before the pandemic. restrictions obstructed travel. A record 510 million train trips are anticipated during the. coming 40-day duration, up 5.5% year-on-year, Zhu Wenzhong, an. authorities from China's national railway operator, said at the. exact same instruction. Some 90 million aircraft trips are anticipated throughout this year's. celebrations, likewise a record high, the NDRC's Li said.
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Lufthansa to obtain stake in Italy's ITA next week, source says
Lufthansa is set to obtain a stake in Italian stateowned airline company ITA on Jan. 13, a. source familiar with the circumstance informed Reuters on Wednesday,. bringing to a close years of talks. DPA news company first reported on the date, which. Lufthansa CEO Carsten Spohr announced at a staff member event,. according to the report. A Lufthansa spokesperson declined to discuss the specific. date and reiterated that the acquisition was expected to close. in early 2025. Lufthansa is set to purchase 41% of ITA, the follower airline company to. insolvent Alitalia, for 325 million euros ($ 335 million). The European Commission authorized in November a bundle of. competition solutions protecting more routes for the German flag. carrier's peers, leading the way for the offer to go through.
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Key solar themes to track after torrid 2024 for investors: Maguire
Solar electrical energy generation posted its biggest ever yearly rise worldwide in 2024, Lots of investors in the solar sector are nursing heavy losses after share prices in major solar firms and exchangetraded funds collapsed. The divergence between generation and returns highlights the difficulty facing investors who are looking to gain from direct exposure to the world's fastest-growing source of electricity. Owning equity in companies engaged in the production of solar elements or in the setup of panel systems at generation websites was thought about an effective ways of tapping continued growth in renewable energy production and demand. After the insolvency in August of the 40-year old U.S. firm Sunpower - which both produced panels and installed set up systems - a number of significant solar equities racked up substantial losses in 2024, forcing investors to reconsider their exposure. Going forward, renewables stay at the heart of prepared expansions in electricity output worldwide, and planetary systems are still the fastest and most inexpensive method for utilities, organizations and families to scale up tidy energy generation. Solar panel makers and installers still deal with obstacles on numerous fronts - from affordable rivals, labour shortages and high parts and financing costs - which indicates the solar sector may still face headwinds in 2025 and beyond. Below are some crucial styles in the solar space that can assist investors comprehend the main developments that stand to shape tidy energy financial investment return potential going forward. LEADING LIGHTS China stays the main chauffeur of solar electrical energy production worldwide, and over the first 11 months of 2024 enhanced solar electricity output by a whopping 44% from the same months in 2023, according to energy think tank Cinder. The roughly 779 terawatt hours (TWh) of electricity produced by China's solar farms from January through November was by far the greatest in any country over that duration, and assisted China represent a record 41% share of worldwide solar generation. Europe was the second biggest market for solar generation in 2024, producing around 338 TWh of solar electricity for the year as an entire (a 17.6% share of worldwide solar output), while the United States produced around 283 TWh (a 14.7% share). Europe and the U.S. both generated record volumes of solar power last year, however both markets taped declines in their global share of solar production as China's growth rate sharply outpaced all other countries. DOWNSHIFT Solar generation levels are anticipated to continue growing in 2025 and beyond, but at a slower pace. In China, Beijing has presented quotas on brand-new solar element production and on generation projects to control overcapacity, which should slow solar additions in the house. Nevertheless, as China is without a doubt the world's biggest manufacturer of solar parts and systems, further growth in Chinese solar product exports is most likely. That may bring the nation into additional conflict with trade partners, especially in Europe which is the leading destination for Chinese solar exports however is where Chinese firms have already been implicated of unreasonable trade practices. Long-lasting weak financial development and high living expenses are sowing widespread political acrimony across Europe, and are in turn stimulating more support for protectionist policies designed to promote economic growth at home and secure regional services. Additional economic weakness in early 2025 might likewise require cuts to federal government costs throughout Europe, which might in turn slow the development rate of renewable resource jobs by government-run utilities. BUREAUCRACY DECREASES? While the pace of solar energy growth may slow in Europe and China, the growth outlook in the United States is less clear. Inbound President Donald Trump is an environment sceptic, has called some kinds of green energy production a scam, and is a. company advocate of enhancing domestic production of oil and. natural gas. However, his administration is likewise expected to speed up. approval procedures for lifting total power output. That suggests that while nonrenewable fuel source producers might get the. Green light to raise output, sustainable energy providers might. gain from much shorter grid-connection times and broad support for. projects that can quickly boost electrical power output. And as solar jobs remain the quickest and least expensive way. to increase incremental electricity output across much of the U.S.,. solar designers may stay in high need even under a more. nonrenewable fuel source friendly administration. That suggests that even with a prospective slowdown in solar. growth in key markets such as China and Europe, solar will. stay an essential part of the generation mix in the United States,. and solar organizations will see continued need for their. services and items. Stock pickers who can recognize the solar firms more than likely. to win company from companies taken part in improving U.S. electricity. materials should in turn still have excellent growth capacity in. 2025, particularly from present historically low valuations. The viewpoints revealed here are those of the author, a market. expert .
Expand Energy still on track to boost United States gas output to 7 bcfd in 2025, CEO states
Expand Energy, the biggest U.S. natural gas producer, stays on track to boost output to around 7 billion cubic feet each day (bcfd) in 2025, CEO Nick Dell' Osso stated at the Goldman Sachs Energy, CleanTech && . Utilities Conference on Tuesday.
With the weather condition turning incredibly cold today and gas. demand and rates rising, Dell' Osso said he has actually received a lot. of questions about whether Expand would enhance output faster than. formerly forecasted.
The response is no. Nothing has changed for us, Dell' Osso. stated. You do not want to grow for a season, you wish to grow for. something that is resilient over a number of years.
After gas costs collapsed in the first half of 2024,. numerous U.S. energy firms decreased gas output. Those decreases. triggered annual production in 2024 to decline for the first time. given that the COVID-19 pandemic cut need for the fuel in 2020.
So now, we can use some of that capability we (deferred). in 2024 ... to balance out declines, Dell' Osso said. We can level. out our production (at) a good level in the variety of 7 bcfd.
Broaden, which was formed by the merger of Chesapeake Energy. and Southwestern Energy, said it produced about 6.75 bcfd of gas. equivalent in the 3rd quarter of 2024.
Shares of Expand were trading around $103.30, their highest. because November 2022.
The U.S. Energy Information Administration projected overall. U.S. gas output would rise to 103.7 bcfd in 2025 after decreasing. to 103.2 bcfd in 2024 from a record 103.8 bcfd in 2023.
One billion cubic feet of gas can supply about 5 million. U.S. homes for a day.
After average gas costs at the U.S. Henry Center benchmark. << NG-W-HH-SNL > in Louisiana collapsed to a four-year low of. around $2.19 per million British thermal systems (mmBtu) in 2024,. energy analysts forecast prices would rise to a three-year high. of $3.44 in 2025.
Dell' Osso said U.S. demand for gas for export was on track. to increase by around 5.6 bcfd by the end of 2026 as new liquefied. natural gas (LNG) export plants enter service.
Plants under building and construction consist of Venture Global LNG's. Plaquemines in Louisiana, Cheniere Energy's Corpus. Christi growth in Texas and Exxon Mobil/QatarEnergy's. Golden Pass in Texas.
The U.S. presently exports about 13% of the gas it produces. as LNG. That percentage will likely grow in coming years as more. export plants enter service.
Dell' Osso said he wishes to offer more gas to customers at. global prices, noting 15% -20% of total sales would be a. good target. With only one global supply deal and a. lot of gas to sell offer the merger, he said it would likely. take a very long time before Expand's global sales reach that. level.
(source: Reuters)