DIRS.INFO The most relevant business & tech news

The city skyline is reflected in a puddle at sunrise following rainy weather in Sydney, Australia, August 28, 2022. REUTERS/Loren Elliott Acquire Licensing RightsSYDNEY, Nov 15 (Reuters) - Australia will on Thursday introduce two previously announced tax bills that will raise petroleum tax revenue and legislate the government's response to a national scandal over confidential tax plans leaked by a PwC Australia partner. The change is one of 11 recommendations from a Treasury review, eight of which the government adopted in August. The centre-left Labor government will also on Thursday introduce legislation prepared in response to revelations a former PwC Australia partner leaked confidential government tax plans then used it to drum up work with multinational companies. Chalmers in August announced a two-year Treasury review into the rules governing large consulting and auditing firms.

Persons: Loren Elliott, Jim Chalmers, Chalmers, Lewis Jackson, Miral Organizations: REUTERS, Rights, Petroleum, Rent, Labor, Thomson Locations: Sydney, Australia

☆ US appeals court scraps Sempra's Port Arthur LNG emissions permit
▼ + stars: | 2023-11-15 | by ( Curtis Williams | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsHOUSTON, Nov 15 (Reuters) - A U.S. court has removed an emissions permit for Sempra's (SRE.N) Port Arthur LNG export terminal in Texas, but the company said construction of the facility will continue for now. The approximately 13.5 million-metric-tons-per-annum (mtpa) Port Arthur plant has approval to export LNG to both Free Trade Agreement (FTA) and non-FTA countries, including Europe, and is part of the U.S. LNG expansion to meet growing global demand for the superchilled gas. The decision sends the Port Arthur LNG permit application back to the TCEQ for new evaluation. Investment firm KKR (KKR.N) owns a 20% stake in Sempra Infrastructure while Sempra Energy owns 70% and Abu Dhabi Investment Authority owns 10%. John Beard, executive director of the Port Arthur Community Action Network, which brought the lawsuit challenging TCEQ, said of the ruling: “We’ve won by standing up for Port Arthur communities of color to breathe free from toxic pollution.

Persons: Dado Ruvic, Port Arthur, Sempra, John Beard, “ We’ve, –, Biden, Alex Munton, Munton, Curtis Williams, Deepa Babington, Stephen Coates Organizations: REUTERS, Rights, Port Arthur, Free, U.S, U.S ., Appeals, Fifth Circuit, Texas Commission, Environmental, Rio, Rio Grande LNG, Port, Sempra Infrastructure, ConocoPhillips, Investment, KKR, Sempra Energy, Abu Dhabi Investment Authority, Port Arthur Community Action Network, Global Gas & LNG Research, Rapidan Energy, Thomson Locations: Port, Texas, Europe, Rio Grande, Port Arthur, Abu Dhabi, Houston

☆ We're adding a transformed industrial stock to the portfolio with a small buy
▼ + stars: | 2023-11-15 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Following the trade, Jim Cramer's Charitable Trust will own 65 shares, representing about 0.50% of the portfolio. These multiyear themes are driving investment in the company's key markets, which are Commercial Buildings, Data Centers, Industrial, Residential Buildings, Utility, Aerospace, e-mobility, and Legacy Vehicle. By the way, artificial intelligence should be an additional tailwind to Eaton's Data Center business. AI data centers require both higher power and higher power density relative to traditional data centers, resulting in three times the electric content. One more theme benefitting Eaton's Data Center business is the need to generate electricity in a clean and sustainable way.

Persons: Jim Cramer's, Eaton, Jim Cramer, Jim Organizations: Eaton Corporation, Data Centers, Industrial, Aerospace, Data Center, Airbus, America's Boeing, Dubai Air Show, Boeing, Jim Cramer's Charitable, CNBC, NYSE Locations: Eaton, industrials, North America

☆ Argentina's presidential candidates face $12 bln energy subsidy conundrum
▼ + stars: | 2023-11-15 | by ( Eliana Raszewski | ) www.reuters.com time to read: +5 min

Milei has said he will cut all subsidies, but admitted it would have to be done slowly. He admitted hiking energy bills was tough medicine in a society already hurting, but argued it needed to be done. "If you increase energy prices today, there is an inflationary peak and it's over. Conservative leader Mauricio Macri (2015-19) cut energy subsidies back. "I don't think Milei will eliminate all subsidies," she said, adding she would likely vote for him for a "change".

Persons: Marcos Brindicci, Sergio Massa, Javier Milei, Milei, Massa, Emilio Apud, Daniel Dreizzen, Peronist Massa, Mauricio Macri, Vaca Muerta, Aleph's, Raquel Ramírez, Eliana Raszewski, Adam Jourdan, Marguerita Choy Organizations: REUTERS, International Monetary Fund, Aleph Energy, Reuters Graphics, Peronist, IMF, Conservative, Reuters, Massa, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, China, America

Snow covered transfer lines are seen at the Dominion Cove Point Liquefied Natural Gas (LNG) terminal in Lusby, Maryland March 18, 2014. The November figure will also be a slight increase from the 21.41 million metric tons from the same month last year. India, Asia's fourth-biggest LNG buyer, is expected to import 1.3 million metric tons in November, down from 1.85 million in October. More U.S. LNG is also heading to Asia, with November imports slated at 1.97 million metric tons, up from 1.83 million in October. This leaves the spot price at the mercy of demand, and while there has been some uptick in both Asia and Europe, it hasn't been enough to drive spot prices higher.

Persons: Snow, Gary Cameron, Europe hasn't, Asia's, Diane Craft Organizations: REUTERS, Rights, world's, LNG, U.S, Reuters, Thomson Locations: Lusby , Maryland, Rights LAUNCESTON, Australia, Asia, Europe, United States, October's, China, Japan, India, Russia, Ukraine, Qatar, U.S, Western Australia

☆ BP, Edison, Shell ask US, EU to intervene in Venture Global LNG dispute
▼ + stars: | 2023-11-11 | by ( ) www.reuters.com time to read: +3 min

Venture Global LNG has said the Louisiana plant is not fully operational due to faulty power equipment that is being repaired. Their appeals sought to get The Hague and Washington to pressure Venture Global LNG on the contracts. In its letter, Shell accused Venture Global LNG of diverting resources into building a second LNG export plant rather than completing repairs to its first plant. Officials from the EU and U.S. indicated they view the dispute as "a contractual matter between commercial parties," a Venture Global LNG spokesperson said on Saturday. Venture Global LNG is operating the Calcasieu Pass plant at capacity, it has told U.S. regulators.

Persons: Chris Helgren, Carol Howe, Michael Sabel, Robert Pender, Gary McWilliams, Diane Craft Organizations: BP, REUTERS, Rights, Edison, Shell, Venture Global LNG, U.S, EU, Force, Energy Security, Venture Global, Global, Reuters, Venture Global Co, Energy Regulatory, Thomson Locations: Vancouver , British Columbia, Canada, U.S, EU, Arlington , Virginia, Louisiana, Hague, Washington, Calcasieu, Europe

The option however is not top of the list for the Treasury, one of the sources added. Announced in May, Eni's share buyback is underway and is expected to increase the government's total stake to just above 34% of voting shares. Once completed, the Treasury could potentially sell enough shares for Italy to remain slightly over 30% of Eni's capital when factoring in CDP's stake, another source said. At current market prices, 4% of Eni is worth around 2 billion euros ($2.14 billion). Eni's share buyback is expected to end before April 2024 after the group said last month it would speed up the programme launched to reward investors.

Persons: Chris Helgren, Italy's, Eni's, Lucia Albano, Giancarlo Giorgetti, Jan Harvey Organizations: Eni, REUTERS, MILAN, Italy's Treasury, Bankers, Treasury, European Union, Economy, Ferrovie dello Stato, Thomson Locations: Vancouver , British Columbia, Canada, Rome, Italy, dei

The Gaza war on the border with Egypt's Sinai Peninsula comes after the impact of Russia's invasion of Ukraine and the coronavirus pandemic exposed long-standing frailties in the Egyptian economy. "Foreign sentiment on Egypt is so weak, and now with this coming along it's last thing that Egypt needed. A foreign currency shortage has led to a $5 billion backlog of imports stuck at ports, and problems for foreign companies repatriating dividends, bankers say. So far, the Gaza war has affected the popular Sinai destinations of Taba, Nuweiba, Dahab and Sharm el-Sheikh but left the rest of the country relatively unscathed. Egypt's tourism minister told Reuters this week that the impact of the war was contained to under 10% of bookings.

Persons: Mohamed Abd El Ghany, Monica Malik, Moataz, Sharm, Karim ElMinabawy, Siamak Adibi, Egypt's, Olumide Ajayi, Malik, Patrick Werr, Sarah El Safty, Aidan Lewis, Toby Chopra Organizations: REUTERS, Abu, Tourism, Countrywide, Emeco, Middle East Gas, FGE, United Arab, Thomson Locations: Giza, Cairo, Egypt, CAIRO, Gaza, Ukraine, Dhabi, Taba, Dahab, Luxor, Aswan, Israel, Europe, Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Gulf . Saudi

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSYDNEY, Nov 9 (Reuters) - Proxy advisor CGI Glass Lewis on Thursday recommended Origin Energy (ORG.AX) shareholders vote in favour of a $10.5 billion bid from a consortium led by Canada's Brookfield (BN.TO), despite opposition from the target's largest shareholder. Brookfield and EIG Partners last week offered a "best and final" A$9.53 per share for Origin after raising a previous bid. Australia's largest pension fund AustralianSuper opposes the offer and intends to use its 15% stake to vote against the deal at a Nov. 23 shareholder meeting. Origin Energy shares traded 1.9% higher at A$8.905 at 2 p.m. AEDT (0300 GMT) and are up 5.1% since the close of trade on Nov. 2, when AustralianSuper rejected the improved offer. Reporting by Scott Murdoch and Lewis Jackson; Editing by Leslie Adler and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Glass, Canada's Brookfield, AustralianSuper, Glass Lewis, Scott Murdoch, Lewis Jackson, Leslie Adler, Jamie Freed Organizations: Brookfield, REUTERS, Rights, Energy, EIG Partners, Services, Origin Energy, Australia Pacific LNG, Thomson Locations: Brookfield, Australia

☆ How shipping more US natural gas to Europe helped fuel CO2 pollution
▼ + stars: | 2023-11-08 | by ( Tim Mclaughlin | ) www.reuters.com time to read: +6 min

The administration approved five U.S. LNG export licenses to serve the European market following Russia's invasion, having approved none beforehand. U.S. special climate envoy John Kerry told Reuters last year that greenhouse gas emissions were an inevitable "downside" to increasing LNG exports to European allies. CO2 emissions from the energy-intensive process of liquefying gas for export mark only one stage in the industry's overall climate impact. Critics argue that it is unclear whether the U.S. gas export boom to Europe is displacing coal or delaying a transition to renewables like solar and wind. NextDecade Corp has said its proposed terminal near Brownsville, Texas, could remove more than 90% of its expected 6.4 million tons per year of carbon emissions.

Persons: Arathy, Biden, John Kerry, Robert Fee, Critics, Alexandra Shaykevich, Sempra, Susan Richardson, Tim McLaughlin, Richard Valdmanis, Suzanne Goldenberg Organizations: Reuters, Cheniere Energy, United, U.S . Environmental Protection Agency, Federal Energy Regulatory, Biden White, LNG, The Energy Department, FERC, U.S, Energy Information Administration, Reuters Graphics, Washington, Venture Global, CCS, SEC, Talos Energy, NextDecade, Thomson Locations: Freeport, U.S, Freeport , Texas, United States, Russia, Ukraine, Europe, Texas, Cameron, Louisiana, Brownsville , Texas

REUTERS/Sergio Perez Acquire Licensing RightsLONDON, Nov 7 (Reuters) - European Union (EU) energy ministers last month struck a deal to reform the bloc's power market. German power market forwards for 2024 and 2025LIGHT-TOUCH REFORMEuropean power prices have fallen a long way from their 2022 peaks, when the region was still reeling from the reduction in Russian gas supplies. EU member states were deeply split on proposals for more fundamental reform of Europe's power market to allow for a complete break of the gas-power price linkage. The hard-won compromise keeps the existing market mechanism, which its supporters claim is more efficient than other models in a liberalised electricity market. The bloc's power prices have historically been twice those of the U.S., but are now three or four times higher.

Persons: Sergio Perez, Teresa Ribera, Bernard Respaut, Mats Gustavsson, Boliden, Gustavsson, Respaut, Jan Harvey Organizations: REUTERS, Union, Spain's Energy, Producers, European Copper Institute, EU, Alcoa, PPA, European Commission, Metals, Reuters, Thomson Locations: Alcobendas, Madrid, Spain, Ukraine, San, EU, U.S, Ireland, Europe

But they are going only as far as the safest bets in the junk category, bonds rated BB and B. Junk bond spreads, the additional interest rate investors demand over safe Treasury bonds, tightened sharply. The spreads of those rated BB and B, or the higher rungs of junk, had tightened 47-52 basis points last week, according to Informa Global Markets data. Four junk bond issuers – Bombardier (BBDb.TO), Venture Global LNG, Smyrna Ready Mix Concrete and InfraBuild Australia - announced bond offerings on Monday. The spotty access to bond markets does not bode well for poorly rated companies.

Persons: Rick Wilking, ”, Edward Marrinan, Peter Knapp, Winnie Cisar, bode, Morgan Stanley, Moody's, Manuel Hayes, Shankar Ramakrishnan, Paritosh Bansal, Andrea Ricci Organizations: REUTERS, Federal, Nikko Securities Americas, Investors, JPMorgan, Informa, CCC, Bombardier, Venture Global LNG, “, London, Insight Investment, Barclays, Thomson Locations: Westminster , Colorado, Smyrna, Australia

[1/8] Japan's Prime Minister Fumio Kishida and U.S. Secretary of State Antony Blinken shake hands at the prime minister's official residence Tuesday, Nov. 7, 2023, in Tokyo, Japan. "Our commitment to continue strict sanctions against Russia and strong support for Ukraine has not wavered at all, even as the situation in the Middle East intensifies," Japan's foreign minister Yoko Kamikawa told a press conference. The G7 is due to hold an online meeting with Ukraine's Foreign Minister Dmytro Kuleba on Wednesday. Since the war erupted, the G7 has issued just one joint statement on the conflict, amounting to a few sentences. G7 foreign ministers are preparing "some sort of statement" to be issued following the Tokyo talks, Kamikawa said declining to comment on its contents.

Persons: Fumio Kishida, Antony Blinken, Eugene Hoshiko, Yoko Kamikawa, Kamikawa, Dmytro Kuleba, Volodymyr Zelenskiy, Minoru Kihara, Blinken, Sakura Murakami, Tim Kelly, John Geddie, Tom Hogue, Raju Gopalakrishnan Organizations: Japan's, REUTERS Acquire, Rights, Ukraine, Kyiv, The, European Union, Russia, Ukraine's Foreign, Mitsui & Co, Health, Japanese, British, United Nations, Thomson Locations: Tokyo, Japan, Russia, Britain, Canada, France, Germany, Italy, United States, Ukraine, Israel, Gaza, U.S, Moscow, Hiroshima, May, ISRAEL, GAZA, Iran

[1/2] The logo of Petroleos Mexicanos (Pemex) is pictured at the company's headquarters in Mexico City, Mexico July 26, 2023. REUTERS/Raquel Cunha/File Photo Acquire Licensing RightsMEXICO CITY, Nov 7 (Reuters) - Mexican state energy company Pemex and U.S. liquefied natural gas (LNG) company New Fortress Energy (NFE.O) have terminated a deal to develop potentially the country's first deepwater natural gas project that was signed a year ago, two sources with direct knowledge of the matter said. Last month, Pemex decided to halt the project after NFE wanted to impose conditions Mexican officials considered unacceptable, including NFE buying the natural gas too cheaply from Pemex, one of the sources said. Pemex wanted to develop Lakach with the U.S. company using a service contract, a mechanism used prior to the Mexico's energy sector opening in 2013-14. Reuters previously reported that officials at the CNH and Pemex had been at odds over how to develop Lakach and other large fields.

Persons: Raquel Cunha, Pemex, NFE, Lakach, Andres Manuel Lopez Obrador, Stefanie Eschenbacher, Ana Isabel Martinez, Mariana Parraga, Adriana Barrera, Dave Graham, Marguerita Choy Organizations: REUTERS, MEXICO CITY, New Fortress Energy, U.S, Reuters, U.S . Department of Energy, Thomson Locations: Mexico City, Mexico, MEXICO, Gulf of Mexico, Veracruz, Gulf, Tamaulipas, Altamira, Houston

REUTERS/Kacper Pempel/File Photo Acquire Licensing RightsLONDON, Nov 7 (Reuters) - Europe's record gas inventories continue to climb even higher as a warm start to autumn delays the onset of heating demand while high prices discourage industrial use and encourage continued imports. But prices for gas delivered at the height of winter in January 2024 have started to slide as the record levels of inventory weigh on the market. Chartbook: Europe gas inventories and pricesInventories across the European Union and United Kingdom hit a record 1,146 terawatt-hours (TWh) on Nov. 5, according to Gas Infrastructure Europe. At the same time, futures prices and calendar spreads have remained strong, despite record stocks, discouraging resumption of industrial use and encouraging continued imports of liquefied natural gas (LNG). Related columns:- Europe’s gas stocks at record high going into winter 2023/24 (October 6, 2023)- Europe’s gas storage must peak early this autumn (September 8, 2023)John Kemp is a Reuters market analyst.

Persons: Kacper, Stocks, John Kemp, David Evans Organizations: REUTERS, European Union, United, Gas Infrastructure, Thomson, Reuters Locations: Strachocina, Poland, Chartbook, Europe, United Kingdom, Gas Infrastructure Europe, Frankfurt, Germany, Ukraine

☆ US natgas prices drop 7% on record output, mild weather
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +3 min

Front-month gas futures for December delivery on the New York Mercantile Exchange fell 25.1 cents, or 7.1%, to settle at $3.264 per million British thermal units (mmBtu), their lowest close since Oct. 27. One bearish factor that has weighed on the futures market for most of this year has been lower spot or next-day prices at the Henry Hub benchmark in Louisiana. The spot market has traded below front-month futures for 176 out of 212 trading days so far this year, according to data from financial firm LSEG. That premium could encourage some speculators to leave gas in storage for longer in hopes of higher prices later in the winter. With seasonally colder weather coming, LSEG forecast U.S. gas demand in the Lower 48 states, including exports, would jump from 101.5 bcfd this week to 109.2 bcfd next week.

Persons: El, Gelber, LSEG, Scott DiSavino, Bernadette Baum, Josie Kao Organizations: El Nino, Associates, U.S . Energy Information Administration, New York Mercantile Exchange, Henry, Thomson Locations: Louisiana, contango, U.S

☆ Proxy firm ISS recommends vote in favour of Brookfield-led consortium's Origin Energy bid
▼ + stars: | 2023-11-06 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSYDNEY, Nov 7 (Reuters) - Proxy advisory firm Institutional Shareholder Services (ISS) has recommended investors vote in favour of a Brookfield-led consortium's $10.5 billion bid for Australia's Origin Energy (ORG.AX). Brookfield and EIG Partners has offered A$9.53 per share for Origin Energy. AustralianSuper, which holds a 15.03% stake, has said it believes the consortium's bid substantially "undervalues" Origin and will vote against the offer. Brookfield will take ownership of Origin's energy markets business if the vote is in favour of the bid, while EIG's MidOcean Energy will gain a 27.5% stake in Australia Pacific LNG (APLNG). In that scenario, EIG will own Origin and sell the energy markets business to Brookfield, meaning remaining shareholders, including AustralianSuper, will own only APLNG.

Persons: Dado Ruvic, Scott Murdoch, Paul Simao Organizations: Brookfield, REUTERS, Rights, Services, Origin Energy, EIG Partners, Shareholders, Energy, Australia Pacific LNG, Thomson Locations: Brookfield, Australia, Sydney

Nov 6 (Reuters) - EIG Partners Chief Executive Blair Thomas said on Monday he is confident a Brookfield-EIG consortium can win support for its $10.5 billion bid for Origin Energy (ORG.AX) despite opposition from the Australian electricity and gas firm's top shareholder. Pension fund AustralianSuper said on Monday it had increased its stake in Origin to 15.03% from 13.67% and the A$9.53 per share bid remained "substantially" below its estimate of long-term value. Origin will hold a shareholder meeting on Nov. 23, where it will urge investors to vote in favour of the deal. If the deal is successful, Brookfield will take ownership of Origin's energy markets business, while EIG's MidOcean Energy will gain a 27.5% stake in Australia Pacific LNG (APLNG). Thomas confirmed both Brookfield and EIG had discussed with AustralianSuper the possibility of it participating in the deal earlier this year.

Persons: Blair Thomas, AustralianSuper, Thomas, EIG, Scott Murdoch, Lewis Jackson, Archishma Iyer, Edwina Gibbs Organizations: EIG Partners, EIG, Origin Energy, Brookfield, Energy, Australia Pacific LNG, Reuters, Thomson Locations: Brookfield, Australia, Bengaluru

☆ Warren Buffett's Berkshire Hathaway reveals record $157 billion cash pile as the investor hunts in vain for bargains
▼ + stars: | 2023-11-04 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

His company Berkshire Hathaway sold over $5 billion of stocks on a net basis, its earnings show. Berkshire's cash pile grew to a record $157 billion, surpassing Disney's market capitalization. AdvertisementAdvertisementWarren Buffett's Berkshire Hathaway grew its cash pile by 7% to an astounding $157 billion last quarter, smashing the conglomerate's previous record of $149 billion in late 2021. They poured a record $68 billion into stocks last year, or $34 billion on a net basis. Their total cash and cash equivalents fell by 21% to $26 billion between January and September, while their short-term Treasury pile swelled by 36% to $126 billion.

Persons: Warren Buffett, Berkshire Hathaway, —, Warren, Buffett, . Buffett, Charlie Munger Organizations: Berkshire, Service, Disney, Travel Centers, BNSF Railway, Berkshire Hathaway Energy Locations: Alleghany, Berkshire

☆ Sinopec says signs new 27-year LNG supply deal with QatarEnergy
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: +1 min

The logo of China Petroleum & Chemical Corporation, or Sinopec, is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. Under the agreement, the two firms will cooperate on the second phase of the North Field gas project, which will supply 3 million metric tons of LNG per year to Sinopec. The deal, signed at the China International Import Expo in Shanghai, is the third long-term supply deal between Sinopec and Qatar Energy, the world's top LNG supplier. The two parties signed a 10-year LNG purchase and sales agreement in 2021, followed by a 27-year deal last year. The North Field is part of the world's largest gas field which Qatar shares with Iran, which calls its share South Pars.

Persons: Chris Helgren, Jason Xue, Dominique Patton, Jason Neely Organizations: China Petroleum & Chemical Corporation, REUTERS, Rights, China Petroleum & Chemical Corp, BEIJING, Qatar Energy, China, Qatar, Pars, Thomson Locations: Vancouver , British Columbia, Canada, Shanghai, Sinopec, Iran

☆ Pipeline operator Enbridge beats profit targets on higher transport volumes
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Chris Helgren/File Photo Acquire Licensing RightsNov 3 (Reuters) - Pipeline operator Enbridge (ENB.TO) on Friday beat third-quarter profit estimates, benefiting from transporting higher volumes of oil and other liquids. Calgary, Alberta-based Enbridge moves about 30% of the crude oil produced in North America, and nearly 20% of the natural gas consumed in the United States. Mainline system transports light and heavy crude oil, natural gas liquids, and refined products from Edmonton, Alberta to various markets in Canada and the U.S. Midwest. In September, the company announced a $14 billion bid for Dominion Energy's (D.N) three utility assets, to create North America's largest gas utility platform. ($1 = 1.3735 Canadian dollars)Reporting by Tanay Dhumal in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Helgren, Gregory Ebel, Ebel, Tanay, Shinjini Organizations: REUTERS, U.S . Midwest, Quarterly, Dominion, Thomson Locations: Calgary, North, Vancouver , British Columbia, Canada, Ukraine, Calgary , Alberta, North America, United States, Edmonton , Alberta, Enbridge, Bengaluru

MOSCOW, Nov 3 (Reuters) - Russia on Friday dismissed new U.S. sanctions over the war in Ukraine, saying that the United States would never defeat Moscow, while the boss of Russia's fastest growing natural gas company quipped the sanctions were a badge of success. The United States on Thursday targeted Russia's future energy capabilities, sanctions evasion and a suicide drone that has been a menace to Ukrainian troops and equipment, among others, in sanctions on hundreds of people and entities. The Arctic-2 LNG project - targeted by the new sanctions - had been expecting to start exporting soon and it is uncertain how much Russian LNG will now be blocked. The largest Russian LNG producer Novatek NVTK.MM said in September it would start shipments from Arctic-2 LNG early next year. Leonid Mikhelson, the head of Russian natural gas producer Novatek(NVTK.MM), told a conference in the Uzbek city of Samarkand that the U.S. sanctions were a badge "of our professionalism".

Persons: Maria Zakharova, Vladimir Putin, Putin, Novatek NVTK.MM, Leonid Mikhelson, Novatek, Guy Faulconbridge, Andrew Osborn Organizations: Monetary Fund, Russian LNG, Thomson Locations: MOSCOW, Russia, Ukraine, United States, Moscow, Russian, U.S, Europe, Uzbek, Samarkand

☆ Panama Canal drought hits new crisis level with nearly half of vessel traffic targeted for cuts
▼ + stars: | 2023-11-03 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

PANAMA CITY, PANAMA - SEPTEMBER 22: The container ship Maersk Bogor is guided by a tugboat as it prepares to enter the Miraflores locks while transiting the Panama Canal on September 22, 2023 in Panama City, Panama. The Panama Canal Authority is continuing to restrict the number of vessels that pass through the Panama Canal locks as drought has caused water levels at Gatun Lake to drop. Over one hundred ships are waiting to transit the canal and the backup could delay goods heading to the United States for the holiday season. The Panama Canal is popular for East Coast trade because it is faster than other options. Traveling through the Panama Canal takes only 35 days.

Persons: Justin Sullivan, Adil Ashiq, Alan Baer, Baer, Jon Davis, Davis, Ashiq, Paul Brashier Organizations: PANAMA CITY, The Panama Canal, Port, CNBC Supply Chain, Panama Canal Authority, East, Panama Canal, MarineTraffic, USA, CNBC, U.S, ITS Logistics Locations: PANAMA, Bogor, Miraflores, Panama, Panama City, The Panama, Colon, Caribbean, United States, Cape Horn, South America, East, Charleston, El Nino, East Coast, Shenzhen, China, Miami , Florida, Suez, North America, U.S, West Coast, Asia, Gulf

Arctic-2 LNG has been expecting to start exporting soon and it is uncertain how much Russian LNG would be blocked by the new measures. The largest Russian LNG producer Novatek (NVTK.MM) said in September it would start shipments from Arctic-2 LNG early next year. The State Department said Zakharov is the creator and designer of the drones. "And every sanctions decision must work in full, so that there is no chance for Russia to bypass them." The State Department also imposed sanctions on multiple defense-related entities and procurement companies in the UAE.

Persons: Volodymyr Zelenskiy, Joe Biden, Doug Mills, Biden, Vladimir Putin, Antony Blinken, Aleksandr Zakharov, Zakharov, Andriy Yermak, Yermak, Daphne Psaledakis, Timothy Gardner, Alexandra Alper Mike Stone, Karen Freifeld, Yuliia Dysa, Ron Popeski, Nick Zieminski, Diane Craft Organizations: U.S, White, Rights, Moscow, State Department, Commerce Department, United Arab, Treasury Department, Systems, Treasury, Russian LNG, European, ZALA Aero, Russian Ministry of Defense, The State Department, Russian Federation, Washington, Turkish, UAE . Construction, Thomson Locations: Washington , U.S, United States, Ukraine, Siberia, Washington, Russian, U.S, United Arab Emirates, Turkey, China, Russia, Moscow, Crimea, Europe, European Union, Ukrainian, ZALA, UAE, New York, Gdansk, Beijing

☆ Europe’s gas prices are a worry ahead of winter despite brimming stores
▼ + stars: | 2023-11-02 | by ( Anna Cooban | ) edition.cnn.com time to read: +8 min

But while gas shortages are unlikely in Europe this winter, the price of the fuel remains a worry. According to S&P Global, about one-fifth of global LNG supply travels through the channel on Iran’s south coast. In a less jittery market, neither incident may have had the effect it did, helping boost European gas prices by more than 40% over the course of a single week. High gas prices have presented a persistent economic headwind for Europe's biggest economy due to its reliance on energy-intensive industries. Together, these milestones should push European gas prices down to €30 ($32) per megawatt hour by the end of next year, Weatherburn added.

Persons: Asia —, Soeren, ”, Jack Sharples, Heikki Saukkomaa, Simone Tagliapietra, Bill Weatherburn, Stefan Sauer, Weatherburn, “ Organizations: London CNN, European Union, International Energy Agency, EU, Getty, “, Oxford Institute of Energy Studies, CNN, Hamas, P, Chevron, Egyptian, Steam, ”, Capital Economics, Qatar, Energy Locations: Russia, Moscow, Ukraine, Europe, North America, Asia, Norway, Hungary, Austria, Azerbaijan, Algeria, Germany, Israel, Gaza, Hormuz, Jordan, Egypt, Cairo, Estonia, Australia, AFP, “, ” Europe, France, Italy, Lubmin, Pomerania, United States, Qatar

Search resuls for: "LNG"

25 mentions found