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BOTAS and Mercuria, Turkey's LNG suppliers, sign a 20-year supply contract
Alparslan Bayraktar, the Energy Minister of Turkey, announced on Wednesday that BOTAS had signed a deal for a 20-year supply of LNG (liquefied natural gases) with Mercuria. The contract will begin in 2026. The agreement, which was signed in New York, during the visit of President Tayyip Erdoan to the United Nations General Assembly will be worth approximately 70 billion cubic meters over its entire duration. The supplies will come from loading terminals located in the United States, as well as regasification plants in Turkey, Europe and North Africa. Bayraktar stated that "this agreement will contribute significantly to the $100 billion target trade volume with the U.S." The deal is also intended to increase supply security and diversify Turkey’s energy sources. Turkey is improving its ties with Washington as it moves towards energy deals. Ankara announced on Monday that it had Lifting of retaliatory Tariffs In 2018, a number of U.S. products, such as passenger cars and fruits, were subject to a tax. This was seen as an act of goodwill before Erdogan's meeting with U.S. president Donald Trump on Thursday at the White House. BOTAS is in charge of Turkey's gas and oil infrastructure, and Mercuria is the largest energy and commodities group worldwide. In a statement from the Turkish Energy Ministry, BOTAS was also reported to have signed a preliminary long-term LNG contract with Woodside Energy Australia's largest gas producer. This agreement calls for Woodside to supply BOTAS with approximately 5.8 billion cubic meters of LNG over a period of nine years starting in 2030. The majority of this LNG will come from Woodside’s Louisiana LNG Project. Reporting by Can Sezer, Writing by Daren Butler, Editing by Ece toksabay & Louise Heavens
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Sources say that Novatek has restarted the second unit of processing at its Ust-Luga complex following a fire.
Three market sources have confirmed that the Russian energy company Novatek resumed processing gas condensate at its second unit in Ust-Luga, which had been damaged by an August 24 drone attack. The fire caused a complete shutdown, including fuel loading, and is one of many disruptions in Russia's energy sector as Ukraine intensifies drone attacks during the ongoing conflict between neighbours. The company had to cut back on naphtha and restart shipments of stable condensate for international markets after two of the three units were damaged in varying degrees. Sources claim that Novatek re-started processing in the second unit, which was less damaged, last weekend. Traders said that repairs on the most severely damaged third unit may take until December at least. Novatek didn't immediately respond to a comment request. According to LSEG data, Novatek’s Ust-Luga Complex has loaded so far around 180,000 metric tonnes of naphtha, and at least 190,000. tons of gas condensate in September. About 70,000 tonnes of gas condensate were also delivered to the Black Sea Port of Novorossiisk by the company. Three processing units of the Ust-Luga Complex, each with 3 million tons per year capacity, refine stable condensate to light and heavy naphthas, jet fuels, ship fuel oils and gasoil. Data from the company show that between January and June 2025, 4.2 million tonnes of gas condensate were processed at the complex. (Reporting from Moscow. Mark Potter is the editor.
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Woodside LNG signs LNG deal with BOTAS
Woodside Energy, a subsidiary of Australia's Woodside Energy, announced on Wednesday that it had signed an agreement with the Turkish state-owned oil company BOTAS to supply approximately 5.8 billion cubic meters of liquefied gas. According to a statement from the company, Australia's largest natural gas producer, Louisiana LNG, has agreed to supply natural gas for nine years, starting in 2030. This will be primarily from this project. Woodside is optimistic about demand for LNG, predicting a 50% increase in growth over the next decade. Alparslan Bayraktar is the Minister of Energy and Natural Resources of the Republic of Turkiye. He said that the companies had already stated their intention to extend the relationship beyond the proposed LNG sales agreement and develop a strategic partnership in the region. Woodside's Louisiana LNG Complex, the largest foreign investment ever made in the history of the state, was the very first U.S. LNG Project to receive financial approval after President Donald Trump took office again in January, and vowed to unleash U.S. power on the world. The project was approved in its final form in late April, and the first gas is expected to be delivered in 2029. Woodside announced in early May that it would be looking to sell an additional 20%-30% of the project, which has been approved for $17.5 billion.
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Pakistan's national airline to resume flights to Britain after 5 years
Pakistan International Airlines announced on Wednesday that it will resume direct flights on its most lucrative route to Britain next month, ending a five-year suspension before the planned privatisation this year of the national airline. PIA announced in a press release that Britain had cleared the airline to fly passenger and cargo services. The company added that operations would begin from Manchester before being extended to Birmingham and London. Privatisation of the airline was a condition for the $7 billion bailout of Pakistan by the International Monetary Fund. In 2020, Britain and the European Union suspended PIA’s operations in the region over safety concerns. This was after Pakistan’s then aviation ministry said that some of the airline’s pilots held fake licences. In November, the EU lifted its ban after Pakistan met benchmarks set out by international aviation regulators. This month PIA announced its first profit before tax in 20 years. Five domestic business groups have expressed interest in Islamabad's national carrier, including Airblue and Lucky Cement, Arif Habib, an investment firm (AHL.PSX), as well as the military-backed Fauji Fertilizer. The final bids will be announced later this year. (Reporting and editing by Clarence Fernandez; Asif Shahzad)
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Thailand tackles massive sinkholes in the capital
Officials said that Thai authorities were rushing to stop a sinkhole in central Bangkok, which was disrupting traffic and utilities. The sinkhole was about 900 square meters in size and extended 50 metres deep (164 feet). It stopped traffic. Social media footage showed the road sinking slowly as water poured from a drain pipe and dragged down electrical poles. The hospital said it would not accept any patients during this incident. Anutin Charnvirakul, Prime Minister of Thailand, told reporters that dirt from an underground construction project was slipping in. "Fortunately, there have been no fatalities or injuries." Bangkok Governor Chadchart Sittipunt stated that a pipe burst, so both water and electricity lines were cut. He said, "The hospital is fine. But we're worried about the police station. It's still dangerous there and the public was evacuated." By noon, the authorities had stopped further ground movements and were closely monitoring the site. (Reporting and editing by David Stanway, Panarat Thepgumpanat and Chayut setboonsarng)
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Hong Kong Airlines evacuates planes while they wait for Typhoon Ragasa
While Typhoon Ragasa - the strongest tropical cyclone in the world this year - approached Hong Kong, airlines at one of the busiest airports in the world were faced with massive flight cancellations, as well as revenue losses. Flightradar24 data revealed that, ahead of Wednesday's arrival of hurricane force winds and torrential rainfall, 80% of aircraft from the four major airlines in the city were relocated or grounded in airports located in Japan, China and Cambodia, Europe and Australia, among other places. From Tuesday evening, all landings and departing flights at Hong Kong - the busiest airport in the world for cargo and ninth busiest international passenger traffic - were cancelled. Cathay Pacific Airways, Hong Kong's biggest airline, announced on Monday that the typhoon would have "a significant effect" on their operations, and they would cancel over 500 long-haul flights and regional flights. The airline said that it was moving some aircraft away from Hong Kong. It expects a gradual and staggered return to its schedule on Thursday and Friday. Hong Kong issued its highest warning of typhoon 10, early Wednesday morning, urging businesses and transport services shut down. In order to avoid damage or conflict, airlines often move their aircraft to other countries during severe weather conditions or when the risk of war increases. According to tracking data at Techo Airport, Cathay Pacific sent 14 jets from Hong Kong on Tuesday to Cambodia's Phnom Penh Techo Airport to wait out storm. The airlines can also send their aircraft out of the main base to be ready for a return flight when a storm has passed. Airlines can add fuel to their aircraft or store them in hangars during high winds. Smaller aircraft may be tied down. Hong Kong's Greater Bay Airlines, which has seven aircraft, announced that it had moved all of its planes out of Hong Kong for safety reasons. Tracking data shows that Boeing 737s landed in Japan and China Tuesday. Hong Kong Airlines also appeared to have kept 28 of its aircraft away from Hong Kong, except for one. Tracking data shows that Cathay and its low cost subsidiary HK Express have kept more planes in Hong Kong. Cathay and HK Express didn't respond to inquiries about the storage of their planes. Cathay stated in a 2017 publication that it stored some planes at the Hong Kong airport for cyclones past, and others were sent to other locations. (Reporting and editing by Jamie Freed in Seoul, Lisa Barrington)
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Oil little changed; lower US crude stockpiles provide floor
The oil prices remained stable on Wednesday, as an industry report revealed that U.S. crude stocks declined in the past week. This added to the feeling of a tightening supply. Brent futures were up 3 cents at $67.66 per barrel as of 0630 GMT. U.S. West Texas Intermediate Crude Futures rose 5 cents to $63.46. The benchmarks rose by more than $1 per barrel as the deal to resume oil exports from Iraqi Kurdistan fell through. This halted pipeline shipments from the region into Turkey, despite the hopes that a deal would be reached to end the deadlock. Two key producers demanded debt repayment guarantees. An agreement reached between the Kurdish region and federal government of Iraq and oil companies will allow for the export of approximately 230,000 barrels of oil per day. Since March 2023, pipeline flows have been halted. Emril Jamil is a senior oil analyst at the LSEG. He said that prices are expected to be supported, but range-bound. Jamil said that while the price gains have been capped by the uncertainty surrounding interest rate decisions from the U.S. Federal Reserve, they are still expected to continue. According to sources citing API data, American Petroleum Institute figures show that U.S. crude, gasoline, and distillate stock levels fell last week while they rose for distillates. Sources said that crude stock levels fell by 3.82 millions barrels during the week ending September 19. Gasoline inventories dropped by 1.05million barrels, and distillate stocks rose by 518,000. On Wednesday, the official U.S. energy data will be released. It is expected that crude oil and gasoline stocks have increased and distillates are likely to decline. Other signs of tightening of supply include reports that U.S. giant Chevron, which produces crude with Venezuelan partners, will only be able export half of its 240,000 barrels of crude per day. The company was granted permission to operate in Venezuela in July. However, due to the new rules, less heavy, high-sulfur crude will be exported from Venezuela.
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China's COMAC is behind schedule on the delivery of C919 aircraft, according to filings
According to filings by the three airlines who fly this model, COMAC has fallen behind its previously stated production targets for its narrow-body C919. China Eastern Airlines (CEA), Air China, and China Southern Airlines all expected 32 planes from COMAC to be delivered in this year. However, as of September, only five had been delivered, according to airline reports, Flightradar24 data, and financial reports from COMAC. Bloomberg reported Wednesday that the state-owned manufacturer had reduced its C919 production goal to 25 in this year, from 75 previously. Bloomberg cited sources familiar with the issue. COMAC did respond to a comment request immediately. COMAC announced in January that it would deliver 30 C919 aircraft and increase its annual production capacity to fifty aircraft by 2025. Chinese media reported that in March it increased the target production to 75. COMAC aims to compete with the leading Western aircraft manufacturers Airbus and Boeing. These companies produce dozens each month of their single-aisle A320neo and 737MAX jets. COMAC faced an unexpected challenge this year when the United States temporarily stopped exports of CFM engines that it uses in the C919 from June to July due to escalating trade tensions. The fact that many of the major components of China's jet building programme are made from foreign parts is a key weakness. The C919 is a plane that has not been certified by major Western aviation regulators. Its only customers are Chinese and two airlines from Brunei and Cambodia, both close allies to Beijing. The aviation consultancy IBA stated last month that COMAC’s C919 targets are ambitious and they expect "more measured growth" by the manufacturer. IBA predicted that around 18 C919s will be delivered in 2020, 25 in 2025, and 45 in 2027. China Eastern, Air China, and China Southern all ordered 100 jets.
The Greek power grid's neglect fuels wildfire destruction
The cause of the deadly wildfire that broke out near the Athens Riviera was found by Greek firefighters in August. They discovered a familiar culprit - a loose cable, whose sparks had been blown over a field dry grass during a strong windstorm.
According to the investigators report, which was seen by, the cable near Keratea had signs of oxidation, and that it was not maintained properly. In just a few hours, the fire had claimed the life of one person and destroyed 4,000 acres (16 sq km) of land south of the capital.
Manolis Paliolougkas of Keratea, a Keratea resident, said that the fire was "rapid" and pointed to a patch of charred ground just outside the town where it started.
The preliminary data from the fire brigade, seen exclusively by, shows that faulty power lines were the main cause of wildfires in this summer. They surpassed arson and negligence.
The brigade investigated 41 major Greek fires. Of these, 15 likely were caused by the electrical network. These fires charred 51,000 acres.
The data show that this is an increase from last year and follows years of underinvestment during Greece's debt crisis between 2009-2018. This adds to climate change risks, as it has caused summers to be hotter, drier, and wildfires to be more destructive. The state is now facing billions of euro in damages.
Palaiologos Palaiologou is an assistant professor of the Agricultural University of Athens. He said, "I and my colleagues have been raising this issue for many years with flares that are caused by energy transmission network." "We cannot hide this issue."
HEDNO, POWER DISTRIBUTOR, DEFENDS THE RECORD
The second report of the fire brigade, seen by, showed that nine major fires in 2024 were probably caused by the electrical network. One of these fires was a fire that raged north of Athens, burning 10,000 hectares, an area larger than Paris.
In Greece, the details of what causes wildfires to start are not generally published. Vassilis Vathrakogiannis, spokesman for the fire brigade, declined to comment because the data was not publicly available.
HEDNO, the public power distributor, said that it performs regular maintenance. The maintenance costs will increase to 165 millions euros by 2024 from 2019's 122 million.
HEDNO stated that it had prioritized laying cables under the ground to reduce fire risks. HEDNO said that it has only been found guilty of three wildfire cases since 2012. Out of 122,000 recorded fires, the organization added.
GOVERNMENT BLAMES DEBT CRISIS for UNDERINVESTMENT
The government attributes the problem to a lack investment made during the debt crises before it took power in 2019.
Nikos Tsafos, Deputy Minister of Energy, told the Parliament this month that "this has left us with a large gap which we must now fill."
Local authorities are losing their patience. Dimitris Papachristou said that he will sue HEDNO this month for negligence over the at least two major fires caused by cables in the summer.
Papachristou said, "We see the same thing every year in Greece." "We've reached our limit."
HEDNO has said that it did not find any link between the August fires and the grid. The maintenance was carried out in Keratera, Greece on May 14, and a 4-metre circle had been cleared around the pole as per Greek law.
FIRE "HOT SPOTS" - MUCH OF THE GRID INSTALLATION DATE DECADES OLD
It is a huge challenge to upgrade the grid, as some of the 4.5 million poles are located in areas with dense forests that are fire hotspots.
Numerous lines still serve villages in rural areas that are almost empty. Keratea is crisscrossed by a multitude of cables, some so sagging that local residents joke that they could be used as a clothesline.
Palaiologou stated that to reduce the risk, cables could be relocated from areas of high-risk, or renewed, or buried underground where possible.
Tsafos informed the parliament that about 1,800 km underground cables are installed each year. If the rate of underground cable installation continues, it will take decades to finish.
He said, "There's still a long way to go."
(source: Reuters)