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Europe gas markets escape hectic LNG summer storage race: Bousso
Gas traders in Europe have been racing against time to fill up depleted storage facilities before winter. As demand on Asian markets is waning, Europe will see a spike in liquefied gas imports. This will give traders and governments more breathing space. It was once considered a niche issue to ensure that European gas supplies are at maximum levels before the cold weather arrives. But it has now become a political necessity after Russia's invasion of Ukraine 2022 led to a sharp reduction in pipeline gas imports. The EU implemented rules in that year that have since been relaxed, requiring that storage reach 90% capacity each November. These measures created price distortions and disrupted the supply, leading to a frantic scramble to get supplies. This year, there is no rush to buy. Gas Infrastructure Europe's (GIE) data shows that European storage capacity is at only 76%, or approximately 85 billion cubic meters, as of 25 August. This is down from 92% one year ago, and the 10-year-average of 80.5%. According to Kpler data, the region's LNG imports dropped from an annual peak of 11 million metric tonnes in March to an estimated 7.4 million tones in August due to a weaker regional market and stronger purchases from Asia. This is similar to the spike in Asian LNG imports in August, when they reached 26 million tons. In February, this had dropped to 21 million tons. The Asian market is expected to be significantly slower during the remainder of 2025, due to large inventories in China and other import nations. This will free up LNG volumes to Europe. The increase in LNG imports will help to offset the decrease in regional supplies due to seasonal maintenance being completed on several Norwegian gas fields until late September. Storage is set to reach 90% easily by the start the heating season, in October. No scrambling needed. SUPPLY BOOM The summer LNG storage filling frenzy will not return to Europe for at least five years. According to LSEG, the global LNG capacity will increase from 550 billion cubic meters last year to 649 bcm by 2026 and 890 bcm by 2030. According to LSEG, the growth was mainly driven by the United States. Exports to the United States in the first seven month of 2025 were up 22% compared to a year ago, to 83 bcm. This is due to the start-up of several large Gulf Coast LNG liquefaction plants, including Venture Global’s Plaquemines. According to current projections, while the supply and demand are expected to be roughly equal this year, there will be a glut in 2026 of up to 200 bcm. A large disparity between supply and demand will lead to a reduction in LNG production. The United States is likely to be the first to cut back, as its producers are more price sensitive than those in other regions. CONSUMER IMPACT The weather will have a significant impact on gas prices in Europe during the winters to come. Last winter, for example, was much colder than previous ones, causing a huge draw in inventories that pushed up prices. For the moment, however, the growing oversupply on the market is good news for the consumers. They will benefit from several years with relatively low LNG prices. This, in turn, may help stimulate industrial activity in Africa. This market dynamic may allow European leaders to also breathe a sigh if relief. They could achieve their dual goal of reducing their reliance on Russian supplies of gas while also lowering the energy bills of their citizens. You like this column? Check out Open Interest, your essential source for global commentary on financial markets. ROI provides data-driven, thought-provoking analysis. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on LinkedIn, X.
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French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux. EIFFAGE, a France-based construction company, published its H1 net income group shares at EUR 308 millions and confirmed their 2025 outlook. ID LOGISTICS, a French provider of logistics and transportation services, reported underlying EBITDA at EUR 267 millions for H1. RAMSAY SANTÉ: The company reported a net loss of EUR 54,1 million for the FY. RENAULT/STELLANTIS: Data from the European Automobile Manufacturers Association showed that new car sales in Europe increased 5.9% in July, as an increase in Germany offset declines in Britain, France, and Italy. Pan-European market data: European Equities speed guide................... FTSE Eurotop 300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurotop 300 sectors..................... Top 25 European pct gainers....................... Top 25 European pct losers........................ Main stock markets: Dow Jones ............... Wall Street Report ..... Nikkei 225............. Tokyo report............ London report ........... Xetra DAX............. Frankfurt items......... CAC-40................. Paris items............ World Indices..................................... Survey of global bourse outlook ......... European Asset Allocation........................ News in a glance Top News ............. Equities.............. Main Oil Report ........... Main currency report .....
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Wall Street Journal August 28,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Japan's Sompo Holdings announced that it would acquire Bermudian insurance company Aspen Insurance Holdings, for approximately $3.5 billion. Robert Primus was fired by Donald Trump, the U.S. president, as a member of Surface Transportation Board. This is a U.S. regulatory agency that oversees railroads. The White House announced on Wednesday that U.S. Centers for Disease Control and Prevention director Susan Monarez was fired less than a week after her inauguration. Four senior officials also resigned over growing tensions regarding vaccine policies and directives for public health. As tariffs increase costs for U.S. manufacturers and retailers, Flexport, a tech-focused freight forwarder joins forces with BlackRock in order to double the amount of its supply-chain funding pool. Lynas Rare Earths has announced its plans to raise $488 million via an equity offering in order to accelerate its expansion. However, it warned that the proposed processing facility for heavy rare earths in Texas might not go ahead. Amazon is extending its corporate employee programs, including the pay structure and benefits to U.S. employees of its Whole Foods supermarket chain, in an effort to better integrate its grocery business.
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ADIA invests $1.5 billion in GLP, a logistics firm
The two companies announced on Thursday that GLP, a global logistics builder and investment company, has received up to $1.5 billion in funding from an Abu Dhabi Investment Authority wholly-owned affiliate to support its next phase of growth. Initial capital investment of $500,000,000 is included in the deal. The funds will be used to bolster Singapore-headquartered GLP's presence in logistics, digital infrastructure, and renewable energy, the companies said in a joint statement. A person who has knowledge of this matter declined to name themselves as the information is not public. The investment is in response to the growing demand for digital infrastructure and logistics. The demand for artificial intelligent services and high growth potential has prompted a surge in investments into data centres. GLP operates in Brazil, China and Europe. It also develops and manages data centers, renewable energies, and other technologies. GLP Capital Partners, the group's asset management division, manages assets worth around $80 billion. ADIA had been investing in GLP funds for some time, but this is the first instance that the largest sovereign fund in the UAE has become a shareholder of the group. GLP announced earlier this week that it had secured 2.5 billion Yuan ($349.51 millions) from Zhejiang-backed investors for its China data center operations. GLP reported that its annual revenue from data centres grew by 43% to $193 millions in May. In November last year, it was reported that GLP aimed to list in Hong Kong by 2025, eight years after the company was privatized. GLP is still planning to list in Hong Kong, but not this year. This was confirmed by a person familiar with the company's plans and another source. GLP has declined to comment on the listing plan. In 2017, a Chinese consortium, including Hopu Investment Management, Hillhouse Investment and GLP CEO Ming Mei backed, bought the Singapore-listed company private for S$16 Billion ($12.47 Billion). GLP sold its international business to Ares Management Corp. for $3.7 billion. The payment was made in cash, with $1.8 billion being paid in cash, and the remainder in shares. ($1 = 7.1529 Chinese Yuan Renminbi) $1 = 1.2827 Singapore Dollars (Reporting and editing by Kane Wu)
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UAW members at GE Evendale will strike on Thursday
UAW President Shawn Fain announced in a late-night video that members of the United Auto Workers at GE Aerospace’s Evendale, Ohio plant would go on strike starting Thursday, after they failed to reach a contract. The U.S. Navy uses the plant to build marine and industrial engines. The walkout extends also to a GE Distribution facility in Erlanger (Kentucky), which supplies parts to many of the engine plants owned by the company. The strike is the latest in a series of strikes that have swept through the aerospace and aviation industries. Unions are flexing their muscle to get new contracts, despite a high demand for skilled workers. In the past two years, workers in all sectors have been pushing for higher wages and better job protections. Local chapter of the union represents 600 workers at two GE Aerospace sites. The union members voted in favor of strike action if no new agreement was reached by August 27. GE Aerospace didn't immediately respond to a comment request outside of regular business hours. (Reporting from Shivansh Tiwary, Bengaluru; Additional reporting by Harshita Menaktshi. Editing by Maju Sam)
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Global Airlines Group proposes raising the international pilot retirement age from 65 to 67
The U.N. agency for aviation has been asked by a group of global airlines to increase the age limit for commercial aviators to 67 from 65 years, claiming that the demand for air travel worldwide is greater than the supply. At its General Assembly on September 23, the U.N.'s International Civil Aviation Organization will examine this proposal. Major U.S. Pilot Unions have opposed it. Many countries, including the United States apply the same rule to domestic flights. IATA, which represents 350 airlines, has said that raising the limit to two years is "a cautious but reasonable step in line with safety." IATA stated in a paper on the ICAO website that there would have to be two pilots per flight. One of them must be younger than 65 if another pilot is older. In 2006, ICAO raised the age limit to 65. Major pilot unions in the U.S. oppose a higher retirement based on safety issues. Dennis Tajer (American Airlines) spokesperson and spokesperson for the Allied Pilots Association, APA, stated that there are not enough data to understand the risks of raising the retirement age. He said, "We do not gamble with our safety in this way." Southwest Airlines Pilot Association and Air Line Pilots Association have not responded to comments immediately. The U.S. Pilot Unions opposed a failed push by U.S. carriers to increase the mandatory retirement age for airline pilots to 67 years old from 65 in 2023. Last month, a bipartisan group in Congress urged President Donald Trump to support international efforts to increase the mandatory retirement age for pilots. (Reporting from Dan Catchpole, Seattle; Additional reporting from Rajesh Kumar Singh, Chicago; Editing Jamie Freed).
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Qantas profits beat estimates due to strong travel demand
Qantas Airways, the Australian airline, posted an annual profit that was better than expected on Thursday. The company attributes this to a robust demand for travel across both its domestic and international routes. It expects that this will continue throughout the current business year. Qantas has reported a strong increase in its earnings, both for its domestic and its international divisions as well as Jetstar, its budget airline. Vanessa Hudson, CEO of the Group, said that the dual-brand strategy and continued strong demand in all segments helped to grow the Group's earnings. The flag carrier reported an underlying profit of A$2,39 billion ($1.55billion) for the fiscal year ending June 30. This was higher than the Visible Alpha consensus of A$2,38 billion, and also above the A$2,08 billion of the previous year. The company also announced that it would pay a final dividend per share of 16.5 Australian cents and a special distribution of 9.9 Australiancents. As part of its ongoing fleet renewal program, the airline has also ordered 20 more narrowbody A321XLRs from Airbus. Reporting by Sameer Mnekar and Roshan T. Thomas in Bengaluru, Editing by Alan Barona.
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UK air passenger numbers beat pre-pandemic records for April to June
In the last quarter of 2010, the number of passengers using British airports rose to an all-time high of 81 million. This was higher than the previous pre-pandemic peak for this period. Civil Aviation Authority reported that the first half of the year saw 141 million passengers. The figures for the second quarter were up 3% compared to a year ago. The CAA reported that Dublin, Amsterdam and the Spanish tourist hotspots Palma de Mallorca, and Alicante, were the top destinations. It added that it expected a record-breaking July-September period, which is the peak summer travel period. As the government looks to expand Heathrow and Gatwick airports in London, the demand for air travel is growing. Local residents and environmental groups oppose both expansion projects, claiming that adding flights would derail the country’s goal to achieve net zero emissions of greenhouse gases by 2050. The government claims that the increased use of sustainable aviation gas by airlines means expansion can be achieved within targets. (Reporting and editing by Sachin Ravikumar; Sarah Young)
UAW members strike at GE's Evendale and Erlanger facilities
UAW President Shawn Fain announced that members of the United Auto Workers at GE Aerospace’s Evendale, Ohio plant and Erlanger distribution facility in Kentucky went on strike Thursday, after failing to come to a new agreement.
Evendale builds industrial and marine engines for the U.S. Navy. Erlanger supplies parts to the company's other engine plants.
The strike is the latest in a series of strikes that have swept through the aerospace and aviation industries. Unions are flexing their muscle to win new contracts, amid a high demand for skilled workers.
In the past two years, workers in all sectors have been pushing for higher wages and better job protections.
Local union chapter in the area represents more than 600 workers at both sites. The union members voted by majority to strike if no new agreement could be reached by the afternoon of August 27.
A GE Aerospace spokeswoman said that the company had activated a detailed contingency plan, adding it was "disappointed", the union decided to go on strike before the employees were given a chance vote. Reporting by Shivansh Tiwary, Bengaluru; Additional reporting by Harshita Menaktshi, Mrinmay dey and Maju Samuel; Editing and Sonia Cheema.
(source: Reuters)