Egypt agreed to buy liquefied natural gas cargoes from Saudi Aramco, Trafigura Group, Vitol Group and others, putting the country on course to be a long-term importer as local production slows. Egyptian Natural Gas Holding Co. also made agreements with Hartree Partners LP, BGN and Shell, according to people with knowledge of the matter who asked not to be identified. The move to secure cargoes is aimed at cutting Egypt’s reliance on volatile spot markets, but also exemplifies the sharp turnaround in a country that until just a year ago was exporting LNG. Declining gas output from local fields at a time when an increasing population and rising temperatures are boosting demand have made Egypt a major importer and helped tighten global markets. The move comes as the North African nation tries to reboot its economy after emerging from a foreign-currency crisis, and a shift to medium-term LNG deals leaves it less exposed to the volatility of the spot LNG market.  Still, higher gas requirements means Egypt’s energy bill is likely to rise to about $3 billion a month over the summer from July, compared with about $2 billion last year, a person familiar with the matter said last month. Bloomberg has previously reported Egypt could buy more than 160 shipments for the period through June 2026. What do you think? We’d love to hear from you, join the conversation on the Rigzone Energy Network. The Rigzone Energy Network is a new social experience created for you and all energy professionals to Speak Up about our industry, share knowledge, connect with peers and industry insiders and engage in a professional community that will empower your career in energy.

WASHINGTON— U.S. Secretary of Energy Chris Wright and Secretary of the Interior Doug Burgum, vice-chair and chair of the National Energy Dominance Council (NEDC) respectively, today joined Yukio Kani, global CEO and chairman of JERA Co., Inc. and representatives from several U.S. LNG producers to announce the finalization of four 20-year agreements between JERA and U.S. companies to purchase up to 5.5 million tons per year of American LNG. The agreements, which are projected to support more than 50,000 U.S. jobs and add more than $200 billion to U.S. GDP according to S&P Global analysis, underscore President Trump’s efforts to unleash American LNG production and the significant role the U.S. LNG industry plays in strengthening the U.S. economy and bolstering global energy security. The agreements include sales and purchase agreements with NextDecade Corporation and Commonwealth LNG, and heads of agreements with Sempra Infrastructure and Cheniere Marketing LLC, to purchase LNG from America’s Gulf Coast. The announcement is yet another major milestone for President Trump’s commitment to increase investment in the U.S. and unleash American dominance. “Today’s announcement of investments in American energy that will unlock nearly a quarter trillion dollars in U.S. GDP is a massive milestone and a bold demonstration of President Trump’s leadership,” said Secretary Wright. “More than 50,000 jobs, tens of billions of dollars in new LNG export infrastructure, and a more secure energy future is just around the corner because we have a President who prioritizes our nation’s prosperity and energy security. This is another powerful example of the growth of the U.S. LNG export industry over the past decade, which is a boon to our allies around the world who seek to expand trade with the U.S. while supporting their own energy security.” “This investment is a message to the world that American LNG is

Abu Dhabi’s main oil company is evaluating whether it can buy some of BP Plc’s key assets should the embattled British firm decide to break itself up or come under pressure to divest more units, according to people with knowledge of the matter. Abu Dhabi National Oil Co. has been internally studying the prospects for acquiring some BP assets and has held initial consultations with bankers, the people said, asking not to be identified because the discussions are private. It is also considering partnering with another bidder to split some of the assets, they said. ADNOC is most interested in BP’s LNG and gas fields, rather than taking over the entire company, though it has also considered that option, the people said. ADNOC, one of the most active dealmakers in recent months, recently started an international unit called XRG PJSC, which is on the hunt for gas and chemicals deals as it targets an $80 billion enterprise value.  Any deal is likely to be pursued through XRG, some of the people said. ADNOC or XRG could also look at BP’s fuel retailing business, according to the people.  Adnoc referred questions to XRG, which declined to comment. The company’s plans are still under consideration and it may also decide not to bid for any assets at all, the people familiar with the situation said. BP also declined to comment. BP has been battling a prolonged underperformance stemming in large part from its previous focus on a net zero strategy. Chief Executive Officer Murray Auchincloss is trying to reset that with a pivot back to oil and gas, and promises to sell assets. Other oil companies have been running the numbers on BP, whose market value has slid by a third in just over a year to below $80 billion. Adnoc isn’t interested in

Anaergia Inc. has secured a contract from New Jeju Bio Co. Ltd. to design and build the Jeju Bio Energy Biogas plant in Jeju Island, South Korea. The company said in a media release it secured the contract through its unit, Anaergia Singapore Pte. Ltd. “New Jeju Bio chose Anaergia for this project due to its proven ability to deliver integrated, complex solutions”, Sae Hyun Cho, CEO of New Jeju Bio, said. “Throughout the design process, we expanded our use of Anaergia’s technologies to address the diverse organic waste streams generated on Jeju Island and optimally transform them into valuable resources”. According to Anaergia, the contract consists of a main agreement worth approximately CAD 30 million ($21.9 million) plus a supplemental agreement valued at approximately CAD 10 million ($7.3 million). The company expects the project to be completed in mid- to late-2027. The contract is subject to a number of routine conditions, including that the client arrange the financial close of this project, Anaergia said. “Finalizing the contract with New Jeju Bio marks an even more significant achievement than we had previously envisioned”, Assaf Onn, CEO of Anaergia, said. “Not only is this a very significant project in a key new market, but it also clearly demonstrates how our industry-leading, integrated suite of technologies provides a proven, comprehensive solution for project developers seeking reliable, innovative organic waste-to-energy systems”. The facility is designed to process approximately 54,000 tons of organic waste annually, including materials from slaughterhouses and undigested sludge from nearby sewage treatment facilities, converting these into around two megawatts of renewable energy. The biogas that is generated will be utilized to fuel a combined heat and power system, offering electricity and heat for various operations such as digestion, pasteurization, evaporation, and digestate drying, Anaergia said. The wastewater produced will be treated

Two studies commissioned by ScottishPower Renewable Energy Limited, an Iberdrola company, say that offshore charging for battery-powered crew transfer and service operation vessels is on the horizon for future wind farms. The studies – conducted by MJR Power & Automation and Oasis Marine – are the last of three commissioned by ScottishPower Renewables to investigate methods for lowering greenhouse gas (GHG) emissions from offshore wind farm operations. The studies reinforced initial conclusions that utilizing battery-powered Service Operation Vessels (E-SOVs) for offshore operations is technically viable, allowing them to remain at sea for prolonged durations, ScottishPower Renewables said in a media release. The two studies also looked at the potential of decarbonizing offshore operations using electric crew transfer vessels (CTVs). Studies found that this option is technically and operationally feasible for windfarms close to shore. “These latest studies have the potential to help the industry take a step closer to a new era for offshore windfarm operations – not just here in the UK, but right across the globe”, Ross Ovens, ScottishPower Renewables’ Managing Director for Offshore, said. “The valuable depth and insight this research offers – regardless of whether you’re considering an SOV or CTV operating model – could help inform future windfarm operations as the country continues to build the green generation we need to meet the expected doubling of electricity demand”. In both scenarios, windfarms would also benefit environmentally and economically, with a significant reduction in both GHG emissions as well as fuel costs. The MJR study found that electrical solutions are well-suited for offshore windfarm operations, allowing for regular charging at production sites and shore-based quays. It also noted that O&M electric vessels will soon be cheaper than Marine Gas Oil (MGO) alternatives, with operating expenses already competitive for SOVs and fully competitive for CTVs in a few years. The Oasis Marine study

Oil surged as the US government ordered a partial evacuation of its embassy in Iraq amid rising security risks.  West Texas Intermediate futures jumped 4.9% to settle above $68 a barrel, the largest gain since October, as the Trump administration reduced embassy staff in Iraq and permitted military service-members’ families to leave the region in response to ongoing security concerns. The UK Navy also issued a rare warning to mariners that higher tensions in the Middle East could affect shipping. The developments compounded speculation about possible supply disruptions in the Middle East after AFP reported that Iran threatened to target US military bases in the region if conflict breaks out. “Iranian rhetoric has turned notably more hostile, and these threats are being substantiated by real-world developments,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Group. “While geopolitical rallies are often seen as selling opportunities, this situation carries the added complexity of potential Israeli military action if negotiations break down, which is keeping traders more cautious about selling into the rally.” Elsewhere, President Donald Trump told the New York Post he’s “less confident” about whether he can convince Tehran to agree on shutting down its nuclear program. He also posted on social media that a trade deal with China was “done,” subject to the approval of President Xi Jinping.  Oil had been weighed down by expectations that a trade war between the world’s two largest economies would hurt demand and that a deal with Iran would bring back sanctioned barrels, adding to rising OPEC+ supplies. Prices have recovered in recent sessions, supported by easing trade tensions and the outlook for summer demand.  A monthly report from the US Energy Information Administration underscored the oil market’s current uncertainties. While the agency expects supply to eclipse demand by 800,000 barrels a day this year, the most