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New Zealand’s gas reserves extend fall in 2025: MBIE
New Zealand’s gas reserves extend fall in 2025: MBIE
Sydney, 14 May (Argus) — National gas reserves are at an all-time low, New Zealand's ministry of business, innovation and employment (MBIE) said, while Wellington has struggled to attract new investment and turned to LNG imports to bridge a supply shortfall. The nation's official proved and probable (2P) reserves as of 1 January fell by 23pc on the year to just 731PJ (19.2bn m³), a 217PJ decline in 12 months due to 108PJ of production and 109PJ of downward revisions. The Pohokura field recorded the largest single decline of 129PJ, linked partly to well underperformance, MBIE said on 14 May. Turangi field, operated by privately-held Greymouth Petroleum, now holds 380PJ or 51pc of remaining 2P reserves. New Zealand's 2026 production is now estimated at 85PJ, 15pc below expectations submitted for the 1 January 2025 reserves statement and lower than the 115.7PJ in 2024, data show. New Zealand's centre-right National-led government has overturned a ban on new exploration instituted under the previous Labour administration but has yet to attract any significant new spending, despite offering to buy up to 15pc equity in new projects to drive activity. The country's energy minister instead announced a turn to LNG imports this year. The country will build a regasification facility at Port Taranaki on the country's North Island, nearby major gas producing facilities in the offshore Taranaki basin. Power problems New Zealand's electricity is mainly sourced from hydroelectricity, but drought periods can hamper output because the catchments are relatively small. The government is aiming to fast-track solar and wind approvals and explore new deep geothermal technologies to make up shortfalls and reserve gas for industrial and heating purposes instead of power generation. New Zealand's sole major non-renewable electricity generator is the 953MW Huntly power station on the North Island which can use coal or gas. Shortfalls of electricity have previously led major manufacturers like Rio Tinto to curtail production at its 335,000 t/yr Tiwai Point aluminium smelter in 2024, and the associated need for gas-fired power led Methanex to idle its plants to free up gas in the same year. Methanex this month said its New Zealand operations may close after gas supplier OMV in April said it would cease Maui gas field production by the end of the year. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
FERC chair questions PJM’s ability to function
FERC chair questions PJM’s ability to function
Houston, 13 May (Argus) — Grid operator PJM Interconnection must move faster to address reliability challenges posed by unprecedented demand or risk losing credibility as the largest US power market, Federal Energy Regulatory Commission (FERC) chair Laura Swett said. "We still expect PJM to run markets that are fair and efficient for everyone, to plan transmission across diverse jurisdictions, and to maintain reliability through extreme weather, shifting fuel mixes, and rapid technological change," said Swett at the grid operator's annual meeting Tuesday. "If this can't be landed given PJM's huge and diverse footprint, perhaps it simply has grown too big to function." PJM, which serves 67mn people across 13 states and the District of Columbia, is under pressure to speed up its decision making process and grid development as surging data center demand raises prices for consumers and strains its ability to deliver reliable power. The grid operator has warned that its rules were built for steady, predictable growth and so fail to deliver new supply quickly. Its recent capacity auctions, which secure back up generation reserves to meet peak demand, have produced record prices and fallen short of reliability targets. PJM is considering ways to redesign its market , recently outlining three potential paths for stakeholders without endorsing a specific solution. FERC noted the grid's process may be hindering reform. "The current stakeholder process is slow where it must be fast, opaque where it must be transparent, and vulnerable to vetoes and agenda control exactly when the region needs immediate action," Swett said. "The stakes for reliability, affordability, and public confidence are too high to tolerate a system that stalls when the hard decisions arrive. Simply put, the status quo is unacceptable and has been for some time." FERC will convene a technical conference on 23 July to examine "flaws and solutions related to PJM's stakeholder process and governance". By Jasmina Kelemen Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
TotalEnergies to build 30MW solar plant in Malaysia
TotalEnergies to build 30MW solar plant in Malaysia
Singapore, 13 May (Argus) — French energy company TotalEnergies and property development firm MK Land are set to start building a 30MW (50MWp) solar farm in Kedah, northwestern Malaysia, and aim to start commercial operations in the third quarter of 2027. The plant's total electricity output of 1.5TWh will be sold under long-term power purchase agreements to market participants in Malaysia's technology and industrial sectors, the firms said on 13 May. The project spans 115 acres (0.5km²) and comprises about 80,000 photovoltaic panels. TotalEnergies will hold a 49pc stake in the project and Solar Citra, a subsidiary of MK Land, will own an interest of 51pc. The Kedah solar farm is under Malaysia's corporate green power programme, a virtual power purchase agreement launched in 2022-23. Energy demand in peninsular Malaysia is expected to grow in 2026, supported by warmer weather and growth in the country's commercial sector, Malaysian energy commission Suruhanjaya Tenaga (ST) said in April. Peninsular Malaysia's grid-connected solar capacity came in at 1.87GW in 2025 , up by 10pc. And overall renewables made up about 15.6pc of installed capacity in peninsular Malaysia in 2025, only slightly higher than that of 2024, ST previously said. The venture is in line with the country's clean energy ambitions, TotalEnergies said. Malaysia aims to have 70pc renewable power capacity by 2050. By Hykel Quek Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Colombia gets ball rolling on fossil fuel shift talks
Colombia gets ball rolling on fossil fuel shift talks
The conference offered a calmer space to discuss fraught topics and how to convert words into actions, writes Lucas Parolin Rio de Janeiro, 8 May (Argus) — A conference on transitioning away from fossil fuels, held in Santa Marta, Colombia, at the end of April did not bring any new commitments to phase out hydrocarbons, but it did look to keep the topic at the top of the climate agenda. Delegates attended from about 60 countries, including some oil and gas-producing nations committed to advancing energy transition talks. Countries represented accounted for about a fifth of global oil production, a third of oil consumption and a third of the world's GDP, according to Colombian officials. Colombia and the Netherlands — co-hosts of the conference — were looking to push the topic forward outside official UN channels. Despite the historic UN Cop 28 climate summit pledge in 2023 , discussions on transitioning away from fossil fuels continue to face opposition from large hydrocarbon-producing and consuming countries, such as China, Russia, the US and Saudi Arabia, which tend to want the focus to be on reducing emissions, rather than fossil fuel output. These countries were not invited because the conference was intended to work as a ‘coalition of the willing'. Only countries " already convinced and ready to work on solutions for the transition " were invited, the Colombian environment ministry's head of international affairs, Daniela Duran, said. Santa Marta kept its focus on fossil fuels, according to non-governmental organisation Earth Insight's engagement director, Juan Pablo Osornio. Participants discussed "the input for combustion", rather than the resulting emissions, he said, adding that this could change the way countries address the topic in future. The debate is shifting from discussing climate change drivers — emissions — to their root cause — fossil fuels — something largely overlooked until Dubai. The disruption to oil and gas supplies from the closure of the strait of Hormuz could make energy security, rather than climate change, the key driver of any acceleration in consumer moves away from these fuels . But fossil fuels are responsible for 80pc of all global emissions, according to a study by the Energy Transitions Commission, a global coalition of leaders from across the energy landscape committed to achieving net zero emissions by 2050. Some countries invited to Santa Marta are still looking to only reduce emissions, but not necessarily fossil fuel usage and production. Canada and Norway stuck to their positions on production. And Nigeria — Africa's largest oil and gas producer — reiterated its call for a just transition for developing economies, saying countries should discuss a phase-down, not a phase-out, of fossil fuels. Safe space Santa Marta was not a place for new commitments, but a space for productive discussions on controversial topics. It aimed for "multilateralism without de facto vetoes" that is "capable of translating agreements into implementation", according to Colombia's environment minister, Irene Velez Torres. Three workstream plans were laid down, including one to help nations develop their own voluntary transition roadmaps. France presented one during the event, and Colombia published a draft document, intended to work as a potential template for other countries. Brazil is also working on one . The impact of Santa Marta on future Cop negotiations is difficult to assess, with the Turkish Cop 31 presidency putting progress in phasing out fossil fuels lower down the list of priorities . No country has shown it is willing to propose putting transition on the summit agenda. But Cop 30's presidency has pledged to present a roadmap in Turkey. The ball is rolling, Osornio said, and conversations at Santa Marta and future phase-out conferences "will continue to push the issue of fossil fuels and will undoubtedly have an impact within the [UN Framework Convention on Climate Change]". Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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