Catch up
Capital
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Woodside Energy (ASX: WDS) and Scarborough stakeholder JERA announced a non-binding heads of agreement for the sale and purchase of LNG cargoes for five years from 2027, but only during Japan’s peak winter months unlike most such supply deals.
“This agreement not only strengthens our relationship with JERA but also reinforces the critical role Woodside plays in supporting Japan’s energy security through the reliable supply of LNG. We look forward to further collaboration with Japanese partners as we progress towards the startup of our new LNG projects, including the Scarborough Energy Project, where first cargo is targeted for the second half of 2026.” - Woodside Chief Commercial Officer Mark Abbotsford
Oil prices fell sharply on the back of Iran’s retaliatory strikes against US military bases in Qatar and Iraq as the attacks did not affect Middle Eastern oil infrastructure. (Politico)
The closure of the Strait of Hormuz remains an unlikely event, Oxford Energy Institute Senior Research Fellow Mike Fulwood said, in a new paper on the impact a closure would have on global gas markets. The paper predicts a closure would result in a similar price shock to that of 2022, following the Russian invasion of Ukraine, with European and Asian spot and hub prices approaching $30 per MMBTU – compared to the current 12-month TTF forward curve of some $13 to $14.
 Projects
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WA-based Ardea Resources (ASX: ARL) updated the market on the Goongarrie Hub Project, which is being developed in anticipation of long-term demand for sustainably produced nickel to standards required by its Japanese battery supply chain partners.
Supporting the New Zealand government’s objective of doubling renewable energy generation by 2050, three solar projects received loans from a Regional Infrastructure Fund to ensure security of local energy supply and community resilience:
- Rakiura/Stewart Island – a suspensory loan of up to NZ$15.35m to Southland District Council to build the first stage of a solar farm, and network upgrades, replacing high-cost, diesel-generated electricity for the island’s 494 permanent electricity connections
- Ongaonga, Hawke’s Bay – a loan of up to NZ$8m to consumer-owned local lines company Centralines Ltd to build a 35ha solar farm to generate 52GW annually and provide about 9,000 connections with a local source of generation
- Te Kaha, Bay of Plenty – a loan of up to NZ$4.75m to Te Huata Charitable Trust to build an 804kW-peak solar farm to ensure reliable electricity supply to about 320 homes and businesses.
“Solar power is playing an increasingly important role in increasing electricity generation in New Zealand. It will help us reach our renewable energy targets and bolster the security and affordability of our energy supply.” - NZ Energy Minister Simon Watts
A plan to frack 15 gas wells in the Northern Territory’s Beetaloo Basin was challenged by Lock The Gate in the Federal Court. The case involving Tamboran (ASX: TBN) will be the first legal challenge launched against fracking under the federal water trigger legislation and is expected to run for several days. (AAP)
Policy
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The escalating conflict in the Middle East has enormous implications for Australia’s transport energy security and is a wakeup call to rapidly accelerate the electrification of heavy road freight, according to New Energy Transport co-founder Daniel Bleakley.
The UK government said big users of electricity like aerospace, automotive and chemicals firms would be exempted from several climate schemes from 2027 to reduce their bills and protect skilled jobs. As part of the government’s new 10-year industrial strategy heavy industries like steel, chemicals and glass would also have their network charges discounted by 90% from next year – up from 60% currently. (The Guardian) (BBC)
Myanmar’s Prime Minister called for cooperation among government ministries to increase domestic solar panel production and expand industrial use of solar energy. (PV Magazine)
Regulation
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Victoria’s cabinet weighed the new electrification regulation for households to replace gas heaters and hot water systems with electric appliances from 2026. Independent modelling released by the Energy Efficiency Council showed a reduction in gas use in Victorian homes could free up an average of 96PJ a year through to 2035 to support industries impacted by high prices and gas supply shortfalls.
Technology
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Are small modular reactors, or SMRs, a practical evolution of nuclear energy, or do they inherit the same flaws of their predecessors? South Korea is in a heated debate over the government’s push for SMRs, as the Lee Jae Myung administration champions what it calls a “pragmatic” energy policy.
Climate
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As London Climate Action Week begins, London Mayor Sadiq Khan and Paris Mayor Anne Hidalgo stood up to well-funded climate deniers they said were spreading misinformation about the climate crisis. (The Guardian)
“As leaders of C40 Cities and the Global Covenant of Mayors for Climate & Energy, we are committing to tackle disinformation not just with facts but with fairer, better policies rooted in people’s everyday realities. We are building capacity across city networks to support trusted messengers, train local leaders and develop new tools to proactively counter misinformation. But we also need others to act. We are calling on national governments, journalists, educators and tech companies to step up.” - Mayors
Sadiq Khan and
Anne Hidalgo
US power prices spiked to more than six-month highs on the back of a dangerous heat wave in the eastern states. (Reuters) (AP News)
People
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Star of the South and Oceanex Energy co-founder Andy Evans was appointed as a Global Wind Energy Council (GWEC) Ambassador. “With Australia’s recent election signalling a renewed commitment to clean energy, it’s a timely opportunity to help reinvigorate the global wind and renewables industry, starting right at home,” he said.
Research
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A new white paper from energy think tank Ember set out how near-continuous “24/365” solar power has become an economic and technological reality in sunny regions. (Capital Brief)
UTS research suggested global warming is increasing the frequency and intensity of wind gusts from thunderstorm “downbursts”. (The Conversation)
Random
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If you don’t have an EV, you may want to fill up your tank today. (ABC) (MSN)
