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Natural gas has been fuelling industrial and economic growth across developed and developing countries. Its usage is set to increase as it is also being considered as a low-carbon fuel that can help make the transition to a no-to-low-carbon economy. Argus is your irreplaceable source of price information, news, expert analysis and fundamentals data for international natural gas markets.
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Browse the latest market moving news on the global natural gas industry.
US imported biofuel credit cut unlikely in 2026
US imported biofuel credit cut unlikely in 2026
New York, 15 January (Argus) — President Donald Trump's administration is unlikely to immediately slash blending credits for foreign biofuels and feedstocks brought into the US, but the idea remains under consideration, people familiar with the matter said. The Environmental Protection Agency (EPA) last year floated a major revamp of the long-running biofuel program, including a plan to halve credits for blending biofuels produced abroad or made from foreign feedstocks. The Trump administration told a court last month it would finalize new biofuel quotas in the first quarter , kickstarting a last-minute lobbying campaign around whether EPA should proceed with the import-credit cuts. Two industry stakeholders closely tracking the debate told Argus that the administration's initial idea to slash credits for foreign fuels and feedstocks at the start of 2026 is likely dead. The US has previously been more cautious when finalizing retroactive biofuel mandates to avoid legal scrutiny, and it is not clear how regulators could belatedly track whether fuels already blended were made from foreign feedstocks. Any rule, even one announced in the coming weeks, would take effect 60 days after publication in the Federal Register . Oil refiners in particular have cast the plan as a threat to retail fuel prices and likely illegal, while US farm advocates worried about imports of renewable diesel feedstocks like used cooking oil have supported restrictions. Under the Renewable Fuel Standard program, EPA requires oil companies to annually blend different types of biofuels into the conventional fuel supply or buy credits from those that do. But there are still advocates within the administration for cutting program credits for imports, the industry stakeholders said. A third source who is directly familiar with the administration's thinking told Argus that the half-credit idea "remains in play". For instance, White House senior counselor for trade Peter Navarro — a longtime Trump adviser and vocal supporter of trade barriers — endorsed the half-credit proposal on Thursday in an unusual op-ed in The Hill website. "The rule closes loopholes that have allowed questionable imports to undercut American farmers and distort the market at scale," Navarro wrote. US secretary of agriculture Brooke Rollins shared the article on social media platform X, saying it was "spot on". Alternatively, biofuel supporters have told EPA that a record-high mandate for biomass-based diesel would support biorefineries that have struggled with policy uncertainty over the last year and guarantee strong demand for US feedstocks like soybean oil even without changes to the credit market. Some have advocated for a biomass-based diesel mandate for 2026 that amounts to between 5.2bn-5.6bn USG/yr of required blending. That is line with the Trump administration's proposal last year but would be a substantial jump from blend requirements of just 3.35bn USG/yr in 2025. Vintage-year 2026 Renewable Identification Number (RIN) credits tied to biomass-based diesel blending under the program rose to 126.5¢/RIN on Thursday, according to Argus assessments, the highest level for current-year credits in more than two years. RIN prices were supported by higher soybean oil futures after Navarro's op-ed, as well as new EPA data that showed continued weak biomass-based diesel RIN generation in December. EPA said it is "reviewing comments" as it "continues to work on a final regulation" and noted the court filing in which the Trump administration said it aims to finalize program updates this quarter. The White House did not respond to requests for comment. Other more technical decisions around program implementation could affect crop demand, biofuel production margins and fuel prices. EPA has proposed slightly cutting the amount of credits generated from blending a gallon of renewable diesel and potentially requiring larger oil companies to blend more biofuels to offset recent program exemptions granted to smaller competitors. By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Norway grants 57 gas and oil licences in mature areas
Norway grants 57 gas and oil licences in mature areas
London, 13 January (Argus) — The Norwegian authorities have awarded ownership interests in 57 production licences on the Norwegian continental shelf to 19 companies. All of the permissions are part of an annual licensing round known as the awards in predefined areas (APA), which began in 2003. This procedure offers companies licences in mature areas with known geology, a smaller number of technical challenges and developed or planned infrastructure. Of the 57 licences awarded, 31 are in the North Sea, 21 in the Norwegian Sea and five in the Barents Sea, and 20 of them have been offered as additional acreage at existing production licences. The Norwegian Offshore Directorate — formerly the Norwegian Petroleum Directorate — offered 62 new offshore oil and gas licences in the 2024 APA round . "In a few years, production will start to fall. Therefore, we need new projects that can slow down the fall and provide as much production as possible," energy minister Terje Aasland said. State-owned Equinor was awarded 35 of the licences in the latest round, the company said on Tuesday. Most — 21 — are in the North Sea, 10 are in the Norwegian Sea and four are in the Barents Sea. Equinor will operate 17 of the licences. Equinor plans to drill 20-30 exploration wells a year, 80pc of them near existing infrastructure and 20pc in lesser-known areas, the firm said. This builds on Equinor's announcement of further investment in infrastructure to maintain high production until 2035 on 8 January. New blocks proposed for next round The Norwegian Offshore Directorate has submitted a proposal to add 70 new blocks to the 2026 APA licensing round. The ministry has submitted a proposal to expand the APA area for public consultation. Of the 70 new blocks, 22 would be in the North Sea, 10 in the Norwegian Sea and 38 in the Barents Sea. The APA area was expanded by 76 blocks last year . The 26th licensing round will be announced in the first half of the year. The deadline for applications will be in the third quarter and licences will be awarded in January 2027. Giving companies access to new and attractive acreage is a pillar of the government's policy to further develop the industry and ensure future production, Aasland said. By Lucas Waelbroeck Boix Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Finnish and Baltic gas demand declines in 2025
Finnish and Baltic gas demand declines in 2025
London, 13 January (Argus) — Combined Finnish and Baltic gas consumption was down by 9pc on the year in 2025, with demand lower in all four countries. Consumption across Lithuania, Latvia, Estonia and Finland totalled 39.7TWh in 2025, down from 43.6TWh in 2024 and continuing its downward trend that began in 2022 in response to the energy crisis ( see combined consumption graph, data and download ). Gas demand in the region is down by 41pc since 2021 or by 27TWh. The region is now almost entirely dependent on LNG imports, with only limited volumes of pipeline gas delivered from Poland. Combine sendout from the Inkoo, Hamina and Klaipeda LNG terminals totalled 40.2TWh last year, down from 43.4TWh in 2024 and substantially above 32.4TWh in 2022, when the region still received some Russian pipeline deliveries. Russian pipeline flows stopped in 2022, while Russian LNG was last received in July 2024. Russia's Gazprom suspended deliveries to Finland's largest gas importer, Gasum in May 2022, following the refusal to transition to payments in roubles. And Lithuania was the first EU country that halted Russian supply in April 2022, in response to Moscow's war in Ukraine. That said, some volumes of Russian gas continue to go through Lithuania as transit volumes to meet the needs of Russia's Kaliningrad. The Latvian Incukalns is the only storage facility in the region, with a technical capacity of 24.9TWh. Stocks totalled 10.5TWh on 12 January, a 4.7TWh year-on-year deficit, according to GIE transparency platform data. The available infrastructure was used also for deliveries to the region including Ukraine . Ukrainian private-sector firm DTEK received its first cargo at Klaipeda for delivery to Ukraine, and other central and eastern European markets in November. Lithuania was a net exporter to Poland of 4.4TWh in 2025, up from 1.1TWh a year before. Users move away from gas Milder weather — combined with European climate policy and rising environmental levies — encouraged users to reduce gas consumption. Milder weather in the region may have weighed on gas needs, as minimum temperatures averaged 2.7°C in 2025 in Helsinki,Tallinn, Riga and Vilnius, up from 2.5°C a year earlier. The EU emissions trading system (ETS) daily index averaged €74.92/t of CO₂ equivalent (CO₂e) in 2025 and stood at €89.46/t on 12 January, sharply above the €66.44/t CO₂e average in 2024. Gas-fired generation still plays a limited role in the region, but its share in the power mix edged up on the year to 11pc from 10pc in 2024. Combined gas-fired output across the three Baltic states rose to 3.04TWh in 2025 from 2.45TWh a year earlier, while Finnish gas-fired generation fell to 870GWh from 1.23TWh, according to data from Fraunhofer ISE ( see gas-fired power graph ). Baltic countries had a 68pc share of renewables in their generation mix in 2025, while Finland had a 55pc share. And the European Commission approved a €2.3bn financial scheme to support Finland's transition to net zero emissions. The scheme includes support for investment renewable energy production, and has been provided as a tax credit. This is likely to weigh on gas demand from industrial users, which may be required to reduce fossil fuel use to access the financial support. Lithuania's largest gas consumer, fertilizer producer Achema, restarted one ammonia unit at its Jonava plant in August, supporting regional industrial gas demand. The site operates two ammonia units, each capable of consuming up to 21 GWh/d. But Achema faces the same pressures as the wider European fertilizer sector, including low-cost imports, high environmental levies and uneven competition. The company has posted losses for the past two years and suspended ammonia production for three months this year on the back of high gas prices and weak margins. By Victoria Dovgal Baltics gas consumption 2025 TWh Baltics gas generation 2025 TWh Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
CEE, SEE gas-fired output up on year in 2025
CEE, SEE gas-fired output up on year in 2025
London, 5 January (Argus) — Gas-fired power generation stepped up on the year in 2025 in central and southeast Europe, as gas-fired power plants replaced coal-fired generation and balance the grid as the renewable buildout continues. Power-sector gas demand has been playing an important role in the transition from carbon-intensive coal generation in the region. Combined gas-fired generation in central and southeast Europe — Austria, the Czech Republic, Slovakia, Hungary, Poland and Greece — stepped up to 72.8TWh in 2025 from 64.5TWh a year earlier, data from research institute Fraunhofer ISE show ( see graph ). Romania and Bulgaria were the only countries in the region where gas-fired power generation edged down year on year, having fallen to 9.6TWh and 1.9TWh, respectively, from 10.3TWh and 2.1TWh a year earlier. Polish gas output rose the most on the year in 2025, to 21TWh from 16.7TWh, followed by Hungary at 7.4TWh last year against 6.4TWh. Tighter environmental policies and rising emissions allowance costs are reducing the competitiveness of coal-fired generation relative to gas output. The EU emissions trading systems (ETS) daily index has averaged €74.92/t of CO2 equivalent (CO2e) in 2025 and was €88.49/t on 2 January, substantially above the €66.44/t CO2e in 2024 ( see CO2 index graph ). And developers have been prioritising flexible, gas-fired capacity to manage intermittency from the expanding and highly volatile output of solar and wind generation. Renewables accounted for 42.2pc of the regional power mix last year, up on the year from 41.1pc (see renewable output graph ). Austria recorded the highest share last year at 84pc, while the Czech Republic had the lowest at 17.7pc. Regional coal-to-gas switch is ongoing Several gas-fired power plants are scheduled to come on line this year in Poland, Romania and Greece, replacing coal capacity and supporting power-sector gas demand. Polish gas demand from the power sector is set to rise further in the coming years because of the planned coal phase-out. Poland's largest electricity producer, PGE, started operations at its 1.4GW Gryfino gas-fired power plant in 2024, which allowed for 450GW of capacity at the Dolna Odra coal-fired station to be taken off line in 2025. The remaining 450MW of capacity at the plant is scheduled for closure in August. PGE also aims to shut its 920MW Rybnik coal-fired plant in 2027, planned to coincide with the commissioning of an 880MW combined-cycle gas turbine (CCGT). Poland's power system operator PSE plans to upgrade the grid to allow safe system operation without fossil-fuel generation by 2035. Renewable fuels made up 47pc of the Polish power mix last year, one percentage point higher than in 2024 (see graph ). Romania plans to replace all its coal-fired power plants with new CCGT plants and cogeneration units, which may support domestic gas needs in the next few years. But Romania has renegotiated with the EU to postpone the coal phase-out until the end of 2029 because of slow progress building gas-fired plants . Romanian gas generation capacity is set to grow, because several CCGT units are scheduled to be commissioned this year. The 430MW Lernut CCGT start-up is expected in the second quarter of 2026. The 1.75GW Mintia CCGT is due to come on line by the end of year, while an 850MW CCGT plant is also planned at Isalnita. And a 53MW gas-fired combined heat and power plant is scheduled to begin operations by June. Romania's reliance on gas for power generation is likely to increase further in the coming years because the 700MW unit at the Cernavoda nuclear plant is scheduled to shut down for modernisation in 2027-29. Greek gas power output was the highest in the region, having increased to 22.9TWh in 2025 from 21.1TWh in 2024. The country aims to phase out lignite-fired generation by the end of this year and has already started replacing its last lignite-fired plant — the 660MW Ptolemaida 5 — to an open-cycle gas turbine. The 810MW Komotini CCGT is undergoing testing and should start commercial operations this year. By Victoria Dovgal Gas-fired power generation by country TWh CO2 EU daily index €/t Renewable 2025 vs 2024 % Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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