Natural gas cooled to a liquid for transport and storage
A blast at Qatar’s Barzan gas facility in Ras Laffan has injured 54 and left 18 missing as QatarEnergy works to restart LNG operations after earlier Iranian attacks. Officials say the explosion was a technical accident during start-up, with no environmental impact expected. QatarEnergy says the Barzan plant is part of Ras Laffan’s LNG complex, a key export hub.
Since the latest talks, tanker traffic through the Strait of Hormuz has picked up, while Iran-linked vessels continue transiting. The U.S. has granted a sanctions waiver through August, and discussions aim for a durable ramp-up in Gulf LNG exports. Oil prices have fallen modestly on the news.
A wave of industry and political commentary on North Sea oil and gas continues to shape UK energy policy as Andy Burnham nears the premiership. Calls from industry bodies urge a pragmatic mix of oil, gas and renewables to safeguard energy security, jobs and investment, while opponents warn against accelerating climate targets.
Canada and Alberta are advancing a major oil pipeline to connect Alberta’s oil sands to British Columbia’s coast, aiming to diversify exports beyond the United States. The plan envisions a 1+ million-barrel-per-day flow to Asia, along with LNG capacity and port expansions. Indigenous consultation and environmental safeguards are part of the talks, though opposition from BC and some First Nations persists.
The US and Iran have exchanged fresh strikes this weekend and on Monday, reversing a recent interim ceasefire and re‑opening doubt over control of the Strait of Hormuz. President Donald Trump has declared the ceasefire "over," ordered further strikes and revoked a temporary oil waiver. Oil has jumped into the high $70s–$80s and global markets have fallen.
The Strait of Hormuz remains a flashpoint as US strikes and Iranian responses escalate. Iran has closed the strait, while the US reimposes a blockade and hits multiple targets. Attacks on commercial vessels have continued, driving up global energy costs and threatening negotiations under the ongoing ceasefire.
Sheikh Hamad bin Khalifa Al Thani has died at 74, Qatar's Amiri Diwan has announced. He has been credited with transforming Qatar into an energy and diplomatic power by expanding LNG production, founding Al Jazeera, building sovereign investment vehicles and stepping down voluntarily in 2013 to hand power to his son.
Nationwide day-ahead power prices in Japan have risen by 9% week-on-week to 21.57 yen per kWh, the highest since early June, driven by surging LNG prices amid supply disruptions in the Middle East. The trend adds to volatility from a duck-curve in Europe.
European sanctions targeting Russia’s energy and financial sectors have progressed, with Greece blocking a wider ban and Ireland pushing a compromise on LNG exports. The package aims to curb Russia’s war effort as Kyiv pursues drone strikes and as the oil price cap remains in flux.
Iran and Oman are nearing an agreement on a temporary, bilateral route through the Strait of Hormuz to restore shipping, but Tehran says this does not guarantee safe passage or a full reopening. U.S. officials anticipate a broader deal is still needed, and regional actors warn that security remains contingent on U.S. actions and broader ceasefire negotiations. Prices have been sensitive to these developments.
RWE has relinquished its offshore wind leases in the US after a settlement with the Trump administration. The company will reinvest about $1.2 billion into a Louisiana LNG terminal and 15 natural gas peaker plants, while winding down projects on New York, California and Louisiana coasts. The move follows a pattern of government buybacks of offshore wind leases.