News highlights gathered by Industrial Info Resources (Sugar Land, Texas) dealing with the energy markets.
Europe
EU Set to Fall Short of Winter Gas-Filling Goal
The European Union’s (EU) Agency for the Cooperation of Energy Regulators (ACER) said Thursday that countries are set to fall short of the bloc’s requirement to fill gas storage to 90% of capacity before next winter because of the Iran war’s disruption to energy markets. ACER said that filling storage to 90% would require the EU to increase its liquefied natural gas (LNG) imports by 13% compared with 2025–difficult in a time of tight supplies. According to Industrial Info Resources data, there are 55 active projects at LNG receiving terminals in the European Union in various stages of development, carrying a total investment value of US$7.86 billion.
Italy to Send Vessels to Strait of Hormuz
Italy’s naval chief of staff Berutti Bergotto said that the country is prepared to deploy four vessels, including two minesweepers, to the Strait of Hormuz, through which about 20% of the world’s oil and gas usually passes. Bergotto said the ships would take about four weeks to reach the area.
Mexico
Sheinbaum: Mexico to Send 1 Million Barrels of Oil to Japan
Mexico’s President Claudia Sheinbaum said during a Thursday press conference that Mexico will send 1 million barrels of oil to Japan as the two countries agree to enhance their energy ties. Industrial Info Resources is tracking 12 operational crude oil storage terminals in Japan with US$44.4 million worth of maintenance activity in place.
Key Takeaways
- An EU energy regulators’ agency said that bloc is unlikely to meet its target of having 90% of natural gas storage capacity filled by winter.
- Italy is preparing to deploy four ships, including two minesweepers, to the Strait of Hormuz.
- Mexico’s President Sheinbaum says her country will send 1 million barrels of oil to Japan over a defined period.
Industrial Info closely monitors breaking news in the energy sector to provide information to energy markets and gauge potential capital and maintenance project activity.
About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR’s Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).
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