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Australia's NSW's climate goals need policy support
Australia's NSW's climate goals need policy support
Sydney, 23 July (Argus) — Australia's New South Wales (NSW) state is unlikely to meet its 2030 and 2035 targets of cutting emissions by 50pc and 70pc from 2005 levels without policy changes, the state government-owned Net Zero Commission stated in its 2026 Annual Progress Report today. The decarbonisation rate in 2023-30 needs to be at 5.5mn t/yr of CO2-equivalent (CO2e), more than 2.5 times faster than the 2.1mn t CO2e/yr achieved in 2004-23. The rate is higher than an earlier pathway the commission indicated in March . NSW will now need to reduce its annual emissions by 38.5mn t of CO2e by 2030 from 2022–23 levels to reach its legislated target, and by a further 30.4mn t CO2e by 2035. The trajectory is steeper in-part because reported emissions increased by 7mn t CO2e between 2021–22 and 2022–23, driven by growth in transport, resources, and agriculture alongside declining land-sector carbon storage. Only data up to 2023 was available when the commission produced the report. "Although the direction is clear for NSW to achieve the 2030 target, the renewable roll-out is behind schedule and delayed closures of coal-fired power stations strongly impact emissions," the commission said. NSW must accelerate energy development approvals to build sufficient renewable generation, storage, and transmission capacity to maintain system security as coal-fired power stations close. The NSW government tabled legislation in May to fast-track approvals for priority renewable generation , storage and transmission projects as it seeks to replace retiring coal-fired generation capacity. The state should also back electrification by supporting a faster rollout of EV charging networks and introducing requirements for new industrial loads, such as data centres, to rely on additional renewable energy sources from the outset, the commission said. The commission explicitly warned that continued expansions of coal mines and the rapid growth of energy-intensive data centres pose a significant risk to the state's climate goals. It noted that coal mine extensions are "not consistent" with legislated targets, while the Australian Energy Market Operator (Aemo) forecasts data centres will add 8TWh to annual NSW electricity demand by 2035, equivalent to 13pc of current demand. Apart from electricity, the government must prioritise cutting methane pollution, which accounts for 30pc of the state's emissions. This can be achieved through practical solutions in the livestock, coal mining, and waste sectors, including scaling feed additives, increasing landfill gas capture, and mandated on-site abatement at mines, the commission said. The advice follows the March release of the NSW Environment Protection Authority (EPA) rules requiring underground coal miners to cut methane emissions. The government has also recently supported emissions reductions through new investment in clean manufacturing and projects to expand domestic production capacity and attract investment into sectors including biofuels and renewable energy. By Lawrence Wen NSW Net Zero Commission revisions March 2026 Advice July 2026 Annual Progress Report Inventory Reference Year 2021–22 2022–23 Methane share of total NSW Emission 29pc 30pc Gap to 2030 Target (Reduction Needed) 35.0mn t CO2e 38.5mn t CO2e Gap to 2035 Target (Additional from 2030) 30.0mn t CO2e 30.4mn t CO2e Source: NSW Net Zero Commission Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
France loses eight August LNG deliveries on diversions
France loses eight August LNG deliveries on diversions
London, 21 July (Argus) — French terminal operator Elengy removed eight LNG cargoes from its August schedule over the past day, likely because Asian firms outbid European buyers for prompt supply. France was scheduled to receive 34 cargoes in August as of 20 July, but this fell to 26 by Tuesday morning, terminal operators Fluxys and Elengy's data show. The Montoir facility lost five scheduled deliveries, while Fos Cavaou lost three. Firms likely diverted cargoes to higher-priced markets such as northeast Asia, despite a tighter Peg-TTF August basis market improving the relative attractiveness of delivering LNG to France. The Peg August contract closed at a €0.15/MWh discount to the TTF on Monday, narrowing sharply from a €0.675/MWh discount on 1 July. The northwest Europe delivered price for August expired at a $0.048/mn Btu discount to the Peg on 15 July, while the price for deliveries in the second half of August closed at a $0.09/mn Btu discount to the Peg August contract on Monday. Fluxys — operator of the Dunkirk terminal — added a cargo to its August schedule on 20 July. France received 24 LNG cargoes in August on average in 2023-25, below the current schedule. Fluxys removed two July cargoes from its schedule on Tuesday, reducing total expected deliveries by the end of the month to 13. This would be the lowest for any month since January 2021. In mid-June, 33 cargoes had been scheduled to be delivered to France. This drop reflects the northwest Europe LNG delivery price for July trading at parity with or at a premium to the corresponding French Peg price for much of June, making all deliveries to France unprofitable even before factoring in regasification and entry grid costs. By Maxim Krukov Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
German gas storage sites hit 45pc fill level
German gas storage sites hit 45pc fill level
London, 20 July (Argus) — German gas storage sites reached a 45pc fill level last week, but slow net injections have stalled the country's stockbuild as tight price differentials diverted supply away from Germany. Net injections averaged 461 GWh/d on 11-17 July, broadly unchanged on the week but well below the three-year average of 680 GWh/d for the period. Combined German storage sites held 112TWh as of Sunday morning, a 45pc fill level, below the 2023-25 average of 189TWh, GIE transparency platform data show. Net injections bottomed out on 17 July at just 109GWh — the slowest stockbuild for any day since firms net withdrew 83GWh on 20 May. The country is not on track to meet its 70pc fill target by 1 November, although it could technically do so as companies have booked around 76pc of Germany's storage capacity, GIE transparency data show. Firms would need to inject 583 GWh/d to hit the target, well above the past two-week pace and the 388 GWh/d 2023-25 average rate. To fill sites to booked capacity, as recommended by storage association Ines, net injections would need to average 725 GWh/d until the deadline. Injections slowed as Germany received less supply from Norway and the Netherlands for a second consecutive week . Germany imported 1.07 TWh/d from Norway on 11-17 July, unchanged from a week earlier but down from 1.2 TWh/d in the period last year. Norway has been diverting supply away from Germany to the Netherlands as tight TTF-THE differentials favoured quicker flows to the Dutch market . Dutch-German exports remained subdued at an average of 387 GWh/d, up from 348 GWh/d a week earlier but well below 629 GWh/d a year earlier. Tight differentials with the Belgian ZTP have weighed on Belgian-German flows ( see table ). Imports from Belgium averaged 604 GWh/d on 11-17 July, down from 650 GWh/d a week earlier. Inflows from Belgium were 662 on 11-17 July 2025. But German exports to eastern Europe and Italy have not slowed despite reduced supply. Flows to the Czech Republic averaged 274 GWh/d last week, easing from 278 GWh/d the week before and 400 GWh/d a year earlier. Combined flows to Austria were 287 GWh/d, edging down on the week from 291 GWh/d. A widening Italian PSV premium to the THE has led to higher German flows to Italy via Switzerland of 178 GWh/d on 11-17 July from 57 GWh/d a week earlier. The German government has signalled a strong preference against intervention, but market area manager THE retains authority to step in if market-based filling becomes impossible. THE would intervene only at the "point of no return" — when it becomes clear that the market will definitely not meet targets. By Alejandro Moreano THE everyday price spreads to other European markets €/MWh Time period THE-TTF THE-ZTP THE-Austrian VTP THE-Czech VTP THE-PSV 11-17 July 2026 0.299 0.354 -0.834 -1.182 3.116 4-10 July 2026 0.259 0.435 -0.780 -1.211 3.049 11-17 July 2025 1.269 1.477 -2.711 -1.243 1.350 — Argus Storage movements and flows GWh/d Norwegian exports to Germany and the Netherlands GWh/d Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Azeri gas exports to Europe fall on year in Jan-Jun
Azeri gas exports to Europe fall on year in Jan-Jun
London, 17 July (Argus) — Azerbaijan's gas exports to Europe declined in the first half of 2026 from a year earlier, while the country diversified its export portfolio across multiple markets. Azeri exports to Europe declined to 5.9bn m³ in January-June from 6.1bn m³ in the same period last year. The country continued to expand its export footprint by widening the number of its export markets and pursuing new buyers. State-owned Socar began supplying gas to Germany and Austria in 2026 , while the Czech Republic , Slovakia and Italy are currently negotiating long-term gas supply agreements with Azerbaijan. Overall gas exports from Azerbaijan rose on the year to 12.7bn m³ from 12.1bn m³. Supplies to Syria recorded the strongest growth, with exports reaching 700mn m³ in the first half of the year compared with no receipts a year earlier — Azerbaijan only began delivering to Syria in August 2025 after Socar signed a swap agreement with Turkey. Gas flows to Turkey were unchanged at 4.9bn m³ in January-June, while deliveries to Georgia edged up to 1.2bn m³ from 1.1bn m³ a year earlier ( see graph ). The EU's planned phase-out of Russian gas by 2027 is forcing European buyers to diversify their supply sources. But Azerbaijan's gas export infrastructure was built before the Russia-Ukraine conflict in 2022 and did not anticipate the increased supply requirements or heightened interest in Azeri gas, Azeri president Ilham Aliyev said. Expanding the country's gas export infrastructure requires additional financing, which is currently limited because European financial institutions have adopted green policies and are avoiding fossil fuel-related investments, he said. Azerbaijan needs long-term supply commitments from buyers, otherwise investments in production and infrastructure assets do not make economic sense, he added. Azerbaijan also has alternative export destinations, such as Syria and neighbouring countries, where gas demand is growing. Azeri gas production continued to increase, reaching 25.3bn m³ in January-June from 25.2bn m³ a year earlier, although production trends varied across fields. The Shakh Deniz field made up 54pc of output in the first half of the year but production eased to 13.7bn m³ from 13.8bn m³ a year earlier. The Azeri-Chirag-Guneshli (ACG) complex accounted for 29pc of total output and was the only major asset to record growth during the period. The field produced 7.3bn m³ compared with 6.6bn m³ in January-June 2025. Azerbaijan's investment and production plans envisage output growth across all fields, Aliyev said. Azerbaijan is targeting annual gas exports to Europe of 20bn m³ from 2028. Long-term capacity bookings at the annual auctions would signal that long-term gas supply agreements are in place. By Victoria Dovgal Azeri output 1H bn m³ Azeri exports 1H bn m³ Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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El Niño to push Brazil thermal output into 2027
El Niño could prolong drought conditions in Brazil, increasing the need for thermal power generation and LNG imports to support electricity demand.
War pushes Brazil's diesel-to-biomethane switch
Rising tensions in the Middle East are increasing volatility in imported diesel prices, strengthening the competitiveness of biomethane in Brazil’s road transportation sector.
Italy’s ‘liquidity mechanism’ poses market distortion risks
Insight into Italy’s plan to narrow PSV-TTF spreads, potential market distortion, legal risks, limited funding, and the impact on European gas flows.
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