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Ukraine claims it has hit two Russian vessels transporting military equipment on the Caspian Sea
Ukraine's Special Forces?said?Friday that they conducted an operation with what they called a local resistance group to strike two Russian ships transporting military equipment and weapons?into the Caspian Sea. They did not specify the date of the'strike. On Thursday, a Ukrainian official claimed that Kyiv had used drones to strike a Russian oil platform in the Caspian Sea for the first-ever time. This disabled the extraction of oil and gas from around 20 wells. The statement by the special forces on Telegram didn't say how or to what extent they hit the vessels. The ships were said to have been hit off the coasts of Russia's?republic Kalmykia. The Composer Rakhmaninoff, and Askar-Sarydzha were named as vessels that the U.S. sanctioned for carrying military cargo between Iran and Russia. The statement stated that the "Black Spark" movement of resistance had provided detailed data on the movements and cargoes of the ships. (Reporting and editing by Alison Williams, William Maclean; Max Hunder and Pavel Polityuk)
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Berlin eyes TenneT Germany majority stake, Boersen-Zeitung says
Boersen-Zeitung, a German newspaper, reported that the German government was in early discussions to 'acquire' a majority stake of?TenneT Germany power grid operations after agreeing in principle to take 25.1%. The financial paper cited sources that said 'Berlin was considering building a consortium with financial investors like Apollo, Blackstone, or Brookfield. Companies and the German Economy Ministry did not respond immediately to a request for comment. Boersen-Zeitung cited sources who said that the German government has also agreed to buy in principle a 25,1% stake in grid company's Dutch parent. Last month, a document from the Ministry of Economy stated that such a deal was close to completion. Berlin is 'considering' buying a 25% stake in order to maintain greater control over critical energy infrastructure, and to secure funding for the?massive investment needed to make the switch to renewable energy. (Reporting and writing by Holder Hansen, Tom Sims; editing by Thomas Seythal).
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Sources say that a vessel caught fire after the Russian attack on Ukraine’s Odesa Region
Two sources familiar with the situation said that a bulk carrier in Ukraine's Odesa area suffered damage and was on fire following a Russian attack on Friday. Sources said that the vessel was anchored in Chornomorsk - one of Odesa's three major Black Sea ports. Last week, Russia threatened to "cut Ukraine?off?from the ocean" in retaliation to Kyiv's attacks on unlicensed oil tankers headed to Russia to export their?oil. The attack on the ship was not clear at first. One source identified the vessel Cenk T. According to MarineTraffic's website, a Panama flagged vessel with that name was identified in the Black Sea about 21 hours ago. Could not independently confirm the flag of the vessel. Sources familiar with the situation have told? The vessel's Turkish owner. Ukraine's airforce reported Friday?missile and a drone attack on Odesa Region. (Reporting and writing by Yuliia Dyesa and Pavel Polityuk; Editing, Alison Williams, Kirby Donovan).
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LSEG data show that Russia's Sibur has shipped LPG to China from Ust-Luga for the first ever.
According to traders and LSEG's ship-tracking data, Sibur, Russia’s largest producer and supplier of liquefied gas, delivered a.first cargo to China via the Baltic Sea port of Ust-Luga. Sibur mainly supplies LPG to Turkey. However, the demand for LPG has declined by?5%-6% per year, according to traders. Algeria and the U.S. also dominate its market. A trader commented that it was becoming increasingly difficult to export additional LPG volumes to Turkey. According to LSEG the large gas?carrier Pacific Moon has arrived in the Chinese port of Quanzhou, located in?the southern Fujian area at the end November. According to industry sources, the company delivered approximately 33,000 metric tonnes of propane at Ust-Luga by mid-October. Sibur didn't immediately respond to a comment request. Sibur began supplying LPG in Ghana, West Africa, and India earlier this year. The company used medium gas carriers capable of transporting up to 20,000 tonnes of cargo. According to industry sources and LSEG, Sibur increased LPG'supplies' from Ust-Luga from January to November by 70%, to 860,000 tonnes, on an annual basis, after reducing them by 37% in 2024 to 570,000 tones from 2023. Reporting by. Mark Potter (Editing by Mark Potter).
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Minister says that Brazil will auction off the massive Santos Container Terminal in early March.
The federal government of Brazil plans to auction off the massive Tecon '10 container terminal at Santos Port in the first half of March, said Minister of Ports and airports Silvio Costa Filho on Friday. He said that more than 10 bidders have expressed interest in the auction, including the Philippines-based ICTSI, JBS, JSL and unnamed 'Arab investors. The Minister said that the minimum bid price will be below?6.4 billion (about $1.19 billion), the amount of money the winning bidder must invest to build and run the terminal. Roberto Lopes confirmed that the Rio Brasil Terminal, controlled by ICTSI will participate 'in the auction, and will 'bid alone with no partners. JBS did not respond to comment requests immediately. JBS is listed in New York, and it has a container contract in the southern Brazil. JSL also did not respond to comment requests. The Brazilian Federal Audit Court (TCU), citing market concentration concerns, recommended earlier this week that the operators of the existing container terminals in the Santos Port be banned from participating in the first round of bidding. The decision has dealt a serious blow to container terminal operators in Latin America’s largest port, including Danish shipping group Maersk and MSC. The recommendation states that these companies can only enter the second phase of the auction if they do not receive any valid bids in the first.
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Cathay passenger arrested for trying to open the door in flight from Boston to Hong Kong
Hong Kong Police?said Friday that they had 'arrested' a passenger who was on Cathay Pacific CX811 flight between Boston and Hong Kong. The carrier claimed the individual attempted to?open a door in mid-flight, on December 10th. The airline stated that no passengers or crew were injured, and the flight safely landed early on Thursday. The incident is being investigated by the?police force of the city. Cathay Airlines said that the cabin crew acted immediately to resolve the issue, checked the door to make sure it was closed securely, and reported the incident both to the authorities and police. The case was?turned over to police for an investigation. "At?Cathay the safety of both our crew and customers is at the forefront of every decision we make." Hong Kong police confirmed the incident, and said that a male 20-year-old from mainland China was arrested on suspicion of violating Aviation Security Ordinance. (Reporting and editing by Tom Hogue; Farah master, Farah)
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JD.com promises $3.12 billion in housing support for couriers
JD.com is one of China's biggest e-commerce firms. It has pledged to provide housing support for its army of couriers. JD.com announced its move in a Friday post on the official WeChat page of its company. This follows a similar pledge made by food delivery firm Meituan. Meituan announced last month that it would invest 10 billion Yuan over the next five years in order to create a comprehensive welfare system for delivery riders. JD.com, Meituan and Alibaba have been fighting for the market share of instant retail, or goods that are delivered in an hour. The competition has led companies to spend billions on?subsidies and discounts for consumers, which have squeezed profit margins and prompted regulatory scrutiny. Chinese authorities have summoned Meituan and JD to encourage them to engage in rational competition. China's 12 million estimated couriers, who ride around on bicycles wearing the brightly colored uniforms of their employers, delivering anything from bubble tea and iPhones, are under increased pressure. In recent years, the plight of delivery workers in China has been brought to the attention of the public through hit movies and best-selling memoirs. Viral videos on social media have also highlighted the precarious lives of these drivers. As a response, some firms have improved the'social insurance coverage of couriers, and others have altered incentive structures to reward riders for making timely deliveries, instead of penalising them for being late. JD.com said in a Friday post that it had already provided housing for 28,000 front-line staff and would provide 150,000 over the next five years. Meituan offers subsidised "Rider Apartments", which are affordable and secure housing. Rents in certain areas of Beijing can be as low as 50% of the market rate.
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Cathay passenger opens aircraft door in flight from Boston to Hong Kong
Cathay Pacific confirmed on Friday that on December 10, a passenger aboard flight CX811 from Boston to Hong Kong tried to open an aircraft's door in mid-flight. The airline stated that no passengers or crew members were injured, and the flight "landed safely" early on Thursday morning. The police are now handling the incident. Hong Kong Police Department did not?respond immediately to a request for comment. Cathay stated that "our cabin crew immediately attended to the problem, checked the door to make sure it was closed securely, and reported the matter to the appropriate authorities and police." The case was handed to the police for an investigation. "At Cathay, the safety of our crew and customers guides all?decisions?we take." The South China Morning Post reported that the passenger was a 20-year old?mainland Chinese. The South?China Morning Post was unable to independently verify passenger's identification. Reporting by Farah Masters; Editing and proofreading by Tom Hogue
Power sector drives development in US natural gas need: Maguire
The power sector is the only major consumer of gas that has actually revealed consistent need growth in recent years, and has ended up being the driving force behind natural gas need in the United States as consumption from other sectors declines.
Gas usage by power generators has broadened by around 3.5% a year over the previous three years, and is by far the biggest single source of gas use in the U.S., information from LSEG programs.
However by volume, development in natural gas usage by the power sector was surpassed by decreases in others. Average gas usage by power firms grew by 70 billion cubic feet daily in 2023, while average combined intake by market, families and industrial users fell by 114 billion cf/day.
Power companies accounted for around 44.4% of total domestic gas use in 2023, compared to around 29% by market, 15.5% by families and 11% by commercial users.
Commercial gas demand has actually declined by around 0.3% a year over the previous three years, while property and commercial gas demand has shrunk by around 0.5% and 0.7% yearly respectively, according to LSEG's gas demand designs.
The growing concentration of gas usage within the power sector poses a possible threat to the U.S. gas production sector, as further quick decarbonization of power systems might activate a. swift decline in gas demand for power while other major. intake sources are already in decrease.
ELECTRIC PUSH
A broad push to electrify specific heating and power systems. across homes and organizations has represented much of the cuts. to gas use outside power generation.
Electricity-powered heat pumps and boilers have replaced. gas-fired furnaces in scores of homes and services in current. years, although the speed of heat pump sales has actually slowed due to. high electricity rates and interest rates.
A record 4.3 million heat pumps were offered in the United. States in 2022, which was the very first year that heatpump sales. surpassed sales of gas-powered heaters in the nation,. according to the Air-Conditioning, Heating, and Refrigeration. Institute (AHRI).
Heatpump sales slowed to 3.6 million in 2023, and through. May of 2024 totalled 1.564 million units compared to 1.643. million units throughout the exact same months of 2023, AHRI information shows.
Regardless of the slowing sales pace, the cumulative effect of the. set up pumps on gas need has expanded, as each unit has. displaced some amount of direct gas intake.
POWER SWITCH
Estimates on the exact volumes of gas displacement. by heatpump are little, as many assessments made by industry. tend to be in terms of cost savings instead of in regards to the. volume of nonrenewable fuel source consumption that is cut.
Additional complicating the gas-impact calculus is the fact. that lots of heatpump setups typically replace one kind of. energy intake for another - from the direct burning of gas. in on-site boilers to electricity supplied by power firms.
And as that extra amount of electrical power must in turn. be created generally by power companies, the net impact on overall. gas usage in the United States remains difficult to determine.
That said, high-level need data expose clear trends.
Total U.S. natural gas usage during the very first half of. 2024 was up 2.3% from the exact same months in 2023.
Gas demand from power manufacturers was up 5.2% from the first. half of in 2015, while need from all other major gas users. was up just 0.5%, LSEG data programs.
Amongst non-power usages, gas need was 3.1% higher amongst. industrial users throughout the very first half of 2024 from the very same. period in 2015, however down 2.5% amongst residences and 1.2% lower. among commercial users.
That large divergence in use trends suggests that gas. consumption may be close to peaking among non-power users, while. continuing to broaden in the power generation sector.
GAS DEVELOPMENT
A consistent increase over the previous 5 years in the percentage. of electrical power generated from gas further illustrates. the importance of the power sector to the gas industry.
Natural gas produced 42.41% of utility-scale electrical energy. production in 2023, according to energy think tank Ember.
That share compares to 35% in 2018 and 24% in 2010, and. exposes how power firms have actually beefed up their dependence on natural. gas for electrical energy generation while gradually minimizing. generation from coal.
Coal's share of U.S. electrical energy generation was 16% in 2023,
down from 27% in 2018 and 45% in 2010, Coal information shows.
Electrical energy generation from solar and wind farms was 15.6%. in 2023, compared to 9% in 2018 and 2.3% in 2010.
A further constant expansion in eco-friendly electrical power. generation is anticipated over the coming years, which might help. power firms make further cuts to output from coal-fired plants. as part of emissions decrease objectives.
However power manufacturers look set to stay heavy users of. gas for electrical power generation, as gas plants can be. easily throttled up and down to match the ebbs and flows of. power need needs and to plug any generation shortfalls throughout. durations of low output from eco-friendly sources.
DEMAND PATTERN
Overall U.S. electrical power demand looks set to expand as more. energy end-uses become amazed and as total power. intake climbs from data centres and due to artificial. intelligence calculations.
Over the close to medium term, that higher power demand. outlook bodes well for the natural gas production sector, even. if direct gas usage in homes and commercial structures. continues to contract.
However over the longer run, the continuing concentration of gas. demand among the power sector positions a possible danger for the gas. industry.
A number of utility systems have plans to phase out gas-fired. generation and replace that power with a mix of. renewable resource generation along with battery storage systems. that can keep surplus sustainable power for later use.
Over the coming years, battery systems look set to stay. far too little to position any considerable danger to gas need.
But if utility-scale battery systems continue their current. quick development while dropping in expense, goals for wholesale. renewables + battery systems might come true and begin to. capture out gas from power systems in a years or two.
And if that occurs while other sources of gas demand likewise. shrink, a major gas supply surplus might emerge. << The opinions revealed here are those of the author, a. columnist .>
(source: Reuters)