Japanese power producer Jera said this week that it has signed multiple long-term LNG supply agreements with US partners over the past two months, to procure up to 5.5mn t/yr over 20 years. This includes 2mn t/yr from NextDecade and 1mn t/yr from Commonwealth LNG. It also signed non-binding interim agreements with Sempra Infrastructure for 1.5mn t/yr and with developer Cheniere for 1mn t/yr. The deals offer competitive pricing and flexible contract terms. All supply will be delivered on a fob basis priced against the US' Henry Hub, allowing Jera to optimise shipping routes and respond flexibly to domestic demand and market conditions, the company said.
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Australia’s NT releases Beetaloo shale gas acreage
Australia’s NT releases Beetaloo shale gas acreage
Sydney, 18 February (Argus) — About 4,000km² of new prospective acreage has been opened for bidding in Australia's onshore Beetaloo subbasin, as the Northern Territory (NT) government aims to attract more shale gas explorers to the remote region. The exploration acreage release was announced to delegates at the North American Prospect Expo (NAPE) in Houston, Texas, NT energy minister Gerard Maley said on 18 February. A total of 50 full and part blocks are open for bidding until 31 July. The subbasin already has two pilot projects under development, with first gas expected within months. Australian gas developer Beetaloo Energy has taken a final investment decision (FID) to build the 25 TJ/d (668,000 m³/d) Carpentaria pilot project in the basin, with first gas targeted for mid-2026. Earlier last year, Tamboran Resources' 40 TJ/d Shenandoah South pilot project also reached FID. Tamboran is additionally working with Australian independent Santos on studies to expand Santos' operated, single-train 3.7mn t/yr Darwin LNG (DLNG) terminal, which holds permits for up to 10mn t/yr of capacity. The firm has also begun engineering studies for a proposed 6.6mn t/yr NTLNG terminal , but has not provided a recent update on the project. Santos plans appraisal drilling Santos has posted 1.4 trillion ft³ (39.6bn m³) of contingent (2C) resources based on results from three previously developed exploration wells, and is planning a fresh appraisal programme starting later this year. Three wells will be drilled, fractured and stimulated over 9-12 months from July-December 2026 to produce appraisal results ahead of a FID, Santos said. Santos plans to deploy the latest US shale technologies and remains optimistic about meeting its cost of supply target for Beetaloo volumes. Santos aims to book a total of 5 trillion ft³ of 2C resources following appraisal, chief executive Kevin Gallagher said on 18 February. "We've looked at that cost of supply to both [the 7.8mn t/yr] Gladstone LNG (GLNG) and to DLNG, we've started work with governments on pipeline approval processes," Gallagher said. The earliest possible FID would be in late 2028, Gallagher added, with early 2029 more likely — followed by a three-to-four-year development phase to build a pipeline with sufficient capacity to feed either DLNG or GLNG. Supportive centre-right governments in both the NT and neighbouring Queensland state, where GLNG is located, have backed further gas production and are regarded as supportive jurisdictions for the upstream sector. The NT's shale gas reserves total about 257,000PJ (6.87 trillion m³), according to 2018 estimates from Australian government agency Geoscience Australia, with around 70pc located within the Beetaloo. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia to develop new alternative waste ACCU method
Australia to develop new alternative waste ACCU method
Sydney, 17 February (Argus) — The Australian government has prioritised the development of a new Alternative Waste Treatment (AWT) carbon-crediting method that could boost emissions abatement by offering a potentially longer crediting period and by adding biomethane generation as an eligible activity. The new methodology will be the first method remake to progress under the proponent-led development process launched in 2024 , which opened the development of new Australian Carbon Credit Unit (ACCU) methods to proponents outside government. The Australian Resources Recovery Council (ARRC) will lead the process, the Department of Climate Change, Energy, the Environment and Water (DCCEEW) said today. A total of 5.57mn ACCUs have been issued to projects registered under the AWT method, representing just 3pc of the 180.78mn ACCUs issued since the scheme started in 2012. But AWT units were the fifth-largest source of ACCU surrendered under the safeguard mechanism for the July 2023-June 2024 compliance year , behind avoided deforestation, landfill gas, human-induced regeneration and savanna fire management methods. ACCUs from AWT projects are typically sold under the generic no-avoided deforestation (No AD) label — the most liquid ACCU product in the secondary market. Developers earn ACCUs from projects that avoid methane emissions from decomposing organic waste in landfill, typically through anaerobic digestion or process-engineered fuel technologies. New project registrations under the method ceased on 31 March 2025 when it expired, although existing projects can continue generating ACCUs until the end of their seven year crediting period. Significant uptake potential Only 11 projects have ever earned AWT ACCUs, with the biggest operators including waste management firms Veolia and Cleanaway — which are also among Australia's largest landfill gas ACCU project operators — as well as carbon developer Corporate Carbon Group , according to the latest project register data from the Clean Energy Regulator (CER) ( see table ). But a "significant increase in uptake" could occur if a new AWT method is developed with key proposed changes, several submissions to a 2024 consultation by the Emissions Reduction Assurance Committee (Erac) said. Erac is the statutory body overseeing integrity in Australia's carbon crediting framework. Erac concluded that the AWT method continues to meet Australia's offset integrity standards. It recommended that assistant minister for climate change and energy Josh Wilson consider several changes if the method is remade to encourage greater uptake and abatement, including extending the crediting period beyond seven years and allowing the biomethane generation as an eligible activity. Longer crediting period favoured Most submissions supported extending the crediting period if the method is remade, to at least 20-25 years, Erac noted. This is mostly because of increasing capital and operating costs of AWT facilities, which typically run for more than 20 years, companies have argued. Some firms also noted that landfill gas projects enjoy a 12-year crediting period , despite lower capital and operating costs than AWT projects involving process-engineered fuel production or anaerobic digestion. "Several submissions argued that resource recovery should be prioritised over landfill gas capture as it aligns with the Australian government's targets for emission reductions, waste diversion, and recycling," Erac said in its review. The crediting period under a remade AWT method should at least match the landfill gas method's crediting period, companies asked. A new method could also include activities covered by the Source Separated Organic Waste (SSOW) method, which will expire on 31 March 2026. Erac reviewed that method last year, alongside beef cattle herd management, reforestation and afforestation 2.0, and land and sea transport , but recommended against creating a new SSOW method, according to an update published today. Biomethane inclusion Most submissions also called for the inclusion of biomethane generation under the new method. ACCUs would be issued for the abatement generated when biomethane is burned and when it displaces fossil-fuel natural gas consumption in domestic applications. A biomethane variation to the AWT method was previously considered in 2022 and underwent public consultation, but was not advanced for Erac's consideration at the time. High costs, regulatory barriers and a limited ACCU pathway have prevented a higher uptake of carbon crediting projects for biomethane facilities in Australia. But new certification options — including renewable gas guarantees of origin (RGGOs) under GreenPower's Renewable Gas Certification and new product guarantee of origin (PGO) certificates under the CER managed guarantee of origin GO scheme — are expected to encourage investment. RGGOs and PGOs can now be used by companies to reduce their scope 1 emissions under the National Greenhouse and Energy Reporting (NGER) scheme following long-awaited rule changes in 2025. More anaerobic digestion projects could be registered under the new ACCU method, driven by demand from gas users for renewable biomethane to meet their corporate decarbonisation targets, one submission said, according to Erac. "Several submissions stated that with proper support, the AWT industry could abate an additional 13-14mn t of carbon dioxide equivalent (CO2e) per year," Erac added. By Juan Weik Australia's largest alternative waste treatment ACCU project operators Operator ACCUs issued Veolia 2,833,937 Global Renewables Eastern Creek (Cleanaway) 1,762,305 Corporate Carbon Group 709,024 Port Macquarie Hastings Council 202,605 Benedict Recycling 52,587 Northmore Gordon 8,055 IWS Group Asset 2,503 Source: CER Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Japan's economy rebounds in October-December 2025
Japan's economy rebounds in October-December 2025
Osaka, 16 February (Argus) — Japan's economy returned to growth in October-December 2025, after the previous quarter's slump, supported by a gradual recovery in private consumption against a backdrop of slowing inflation and lower energy prices. Seasonally adjusted real GDP rose at an annualised rate of 0.2pc in the October-December quarter, following a 2.6pc decline in July-September, according to preliminary government data released on 16 February. Private consumption, which accounts for more than 50pc of the country's GDP, grew by 0.4pc on an annualised basis in October-December from the previous quarter. Meanwhile, private residential and non-residential investment rose by 20pc and 1pc, respectively. The increase offset a 0.8pc decline in public demand over the same period. Signs of a rebound in private consumption have emerged, with real employee income recovering moderately, said a monthly economic report for January published by Japan's Cabinet Office. The inflation rate for the Tokyo metropolitan area eased to 2pc in December from 2.7pc in November, reflecting a slowdown in food price increases, the report said. Meanwhile, energy prices fell on the year owing to government subsidy effects, it added. Tokyo raised its gasoline subsidy from 13 November to cap the country's retail gasoline prices, aiming to facilitate the scrapping of its provisional tax of ¥25.10/litre ($0.16/litre) on gasoline, which was eventually abolished on 31 December 2025 . Japan's retail gasoline prices averaged ¥161.55/litre during the four weeks to 22 December 2025, down by 8.7pc from ¥176.88/litre a year earlier, according to data from trade and industry ministry Meti. Removing the extra tax was a central pillar of Japan's emergency economic revamp package aimed at tackling inflation, introduced after Sanae Takaichi, a Liberal Democratic Party leader became prime minister in October 2025. Japan's energy utilisation costs in December also appeared to have declined following lower fuel import costs, even before the new government resumed subsidies for retail electricity and city gas supplies during the January-March winter heating season. A typical household bill for electricity consumption of 260kWh in the Tokyo metropolitan area would total ¥8,639/kWh in December, down from ¥8,868/kWh a year earlier, according to earlier estimates from utility Tokyo Electric Power in October 2025. Lower energy costs reflected weaker import prices of generation fuels. The country's import costs for LNG averaged ¥84,044/t for July-September 2025, down by 10pc from a year earlier, data from Japan's finance ministry show. The fall in import costs was reflected in utility bills for December. The Japan Crude Cocktail (JCC), Japan's monthly average price of crude delivered to the country, averaged ¥10,602/bl for July-September, down by 19pc from a year earlier. The country's import costs for thermal coal fell by 24pc to an average of ¥17,538/t during the period. The economic growth in the October-December quarter sent Japan's full-year 2025 real GDP growth to 1.1pc from a year earlier. Nominal GDP totalled ¥662.8 trillion, exceeding ¥600 trillion for the third consecutive year. By Motoko Hasegawa Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US climate rollback set to raise gasoline prices
US climate rollback set to raise gasoline prices
Washington, 13 February (Argus) — US president Donald Trump's elimination of all federal greenhouse gas standards on cars and trucks could raise gasoline prices by as much as 29pc by 2050, according to projections prepared by his own administration. That higher spending on fuel, along with other effects caused by repealing the tailpipe standards, would result in net losses for consumers of about $180bn through 2055, according to a primary scenario the US Environmental Protection Agency (EPA) published on Thursday in support of its regulatory rollback. The agency's "Scenario A1" shows gasoline prices rising by 75¢/USG by 2050, in constant dollar terms, as a result of higher fuel demand coming from less fuel-efficient but cheaper cars and trucks. Trump on Thursday cited what he said were "trillions of dollars" in cost savings as a reason for repealing tailpipe standards. But EPA's own modeling shows the potential savings to consumers would be far less, or even result in net costs for consumers. That is before accounting for adverse health consequences caused by air pollution or effects of climate change. "By EPA's own analysis, American families will pay billions more in fuel costs. To make matters even worse, many people will be burdened with increased healthcare costs from the increase in air pollution that vehicles will be allowed to spew," said Katherine García, director of Sierra Club's Clean Transportation for All Campaign. EPA administrator Lee Zeldin said on Thursday that the tailpipe rollback would "eliminate over $1.3 trillion of regulatory costs", a figure pulled from agency projections largely focused on savings from lower vehicle prices through 2055. But that headline figure disregards key costs under the rollback, such as additional spending on fuel and repairs that would total nearly $1.5 trillion over the same time span, dwarfing the potential savings, agency modeling shows. The extra fuel demand from the rollback has been welcome news for oil producers, who contend EPA's tailipe standards forced consumers to purchase electric vehicles and other models they did not want. Before the rollback, the US Energy Information Administration's reference case in its Annual Energy Outlook showed fuel demand from light-duty vehicles falling to 4.9mn b/d by 2050, down from 8.3mn b/d this year. Oil groups have cheered the demise of EPA's vehicle greenhouse gas standards, even as they push to retain emission standards for oil and gas facilities. "EPA properly concludes that the Clean Air Act does not provide it with the authority to regulate certain greenhouse gas emissions," Independent Petroleum Association of America chief executive Edith Naegele said. EPA prepared alternative scenarios that show increased benefits from the rollback. In technical documents released on Thursday, EPA said "Scenario AI" does account for policies Trump is taking "to drive down the price of gasoline and diesel", so it modeled an alternative scenario where oil prices plunge to $47/bl by 2050, compared with a reference case of $91/bl. In that price scenario, net savings would reach $250bn by 2055. EPA also created scenarios showing even higher savings by assuming consumers only cared about the first 2.5 years of fuel savings when buying a more fuel-efficient vehicle. None of EPA's cost-benefit scenarios accounted for any of the negative health effects of more air pollution, or damage from climate change. Under a recent policy change, EPA assigned a value of $0 for all adverse health effects of regulatory changes. EPA expects the rollback will increase greenhouse gas emissions by 8.3bn metric tonnes of CO2-equivalent, equivalent to about 1.5 years of greenhouse gas emissions from the US. By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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