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Erex plans third biomass co-firing trial in Vietnam
Erex plans third biomass co-firing trial in Vietnam
Tokyo, 15 July (Argus) — Japanese renewable energy developer Erex plans will conduct its third test run of coal and biomass co-firing operations at a Vietnamese power plant in September, the company said today. Erex plans to start the trial combustion in late September at the 30MW Nong Son thermal power plant in the central region of Vietnam, which is held by state-owned company Vietnam National Coal and Mineral Industries (Vinacomin). The company aims to achieve co-firing rate of 10pc on wood chips and 30pc on wood pellets with coal. The test run is expected to last for one month. Erex has successfully completed trial combustions of coal and biomass co-firing operations at two other Vinacomin plants , burning up to 20pc of wood chips at the 110MW Na Duong plant and up to 30pc of wood pellets at the 115MW Cao Ngan plant. The company also plans to conduct a co-firing test run at the 670MW Cam Pha thermal coal plant around 2027-28. Erex and Vinacomin are expected to renovate Na Duong and Cao Ngan in 2026-27 and start commercial co-firing operations around 2027-28. The companies aim to conduct co-firing operations at six of Vinacomin's thermal coal plants in Vietnam in future, with a total capacity of 1,585MW. The co-firing projects underscore Vietnam's net-zero strategy. The country currently relies on coal to meet around one-third of its electricity demand, with power consumption increasing by 10 pc/yr. Vietnam has looked to biomass fuels as self-sufficient renewable energy sources. Meanwhile, Erex is eyeing carbon credits from the co-firing projects and is in negotiation with the Vietnamese government on this. The company is considering selling some of the carbon credits to other firms in Japan, after commercial co-firing operations begin in Vietnam. By Takeshi Maeda Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia to create AI regulator, mandate new power
Australia to create AI regulator, mandate new power
Sydney, 15 July (Argus) — A new Australian Office of Artificial Intelligence (AI) will be created to manage the boom in investment and associated demand for electricity and water resources, the federal government said, with developers expected to contribute to new power generation. The AI Office will support the growth of an industry in Australia's national interest, prime minister Anthony Albanese said on 15 July, with AI standards designed to regulate impacts on energy, copyright, productivity, education and labour rights. Australia will set rules for large data centres, including where they are built and how they use energy and water, with a legal obligation for developers to underwrite new electricity supply so that increased costs are not passed on to existing consumers, Albanese said. To ensure this, Australia's federal government will need to work with the six states, which have differing approaches to energy policy. Queensland favours gas- and coal-fired generators , while other states are seeking to increase wind power capacity, including Victoria, which is eyeing offshore wind projects to replace its brown coal-fired power stations next decade . Canberra's approach will be considered at a national cabinet meeting of state, territory and federal leaders in August, with the standards expected to be legislated early next year, Albanese said. Regulation roll-out The AI Office plan comes after months of statements by ministers and industry suggesting that copyright concerns and impacts on water and power networks would require intervention, after years of a hands-off approach. The government's national AI plan, released in December, spelled out a loose framework of expectations for data centre developers, with Canberra promising in March that regulation would eventually be enacted. Environmental groups have criticized the speed of data centre development, with the Climate Council last month warning that expansion of data centres is outstripping the pace of renewable energy investment and risks undermining both Australia's climate targets and electricity prices. Data centres developers typically prefer proximity to users in the major capitals of Sydney and Melbourne. State and local authorities have reported community opposition due to the scale of some projects and competition for land use, with some data centre sites planned for future housing. The Australian Industry (Ai) Group welcomed the announcement and said Australia was poised to benefit from more than A$10 trillion ($7 trillion) in data centre investments by 2030, boosting demand for critical minerals for semiconductor-conductors, microchips and processors to supply the sector. But investment could flow elsewhere if over-regulation undermines Australia's competitiveness, productivity and comparative advantages, the Ai Group warned, calling on Canberra to also focus on developing AI-skilled workforce and lift collaboration between Australian businesses and scientific researchers. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Iraqi leader invites US oil investment
Iraqi leader invites US oil investment
Washington, 14 July (Argus) — Iraq is hoping to scale up investment by US companies, Iraqi prime minister Ali al-Zaidi told President Donald Trump during a meeting at the White House on Tuesday. Trump said he expected major deals to be announced shortly, without providing details. "We have tremendous oil partnerships all of a sudden being formed over the short period of time," Trump said, attributing the spike of interest in Iraq to his decision to attack Iran. Al-Zaidi, who took office in May, inherited an economic crisis caused by the effective closure of the strait of Hormuz in March-June. US-Iranian clashes, which escalated on 7 July, have again constricted energy flows through Hormuz after a brief resurgence of flows in mid-June following an interim US-Iran deal. The US resumed a naval blockade of Iran at 4pm ET (20:00 GMT) on Tuesday. Vessel traffic through the strait of Hormuz remained at minimal levels over the past day, according to MarineTraffic. Al-Zaidi's government has so far managed to balance relations with Washington and Tehran during the US-Iran war. Al-Zaidi's government represents Iraq's Shiite Co-ordination Framework, which is aligned with Tehran. But Trump heaped praise on al-Zaidi — "The prime minister of Iraq has been amazing" — and took credit for his nomination. Al-Zaidi emerged as a compromise candidate after the US had rejected the bloc's earlier nomination of former prime minister Nouri al-Maliki, seen by Washington as too aligned with Tehran. Iraq in recent weeks accelerated efforts to boost crude production and diversify export routes after approving a series of agreements with Chevron, US oil services firm Halliburton and other international partners, while moving to extend the operation of its northern export pipeline to Turkey for another year. Argus estimates Iraqi crude output was 2.15mn b/d as of June, well below its Opec+ target of 4.35mn b/d, because of constraints on seaborne exports. Baghdad is welcoming new US oil investment and, at the same time, preparing for the scheduled departure of the remaining US troops from Iraq on 30 September, al-Zaidi said. "US forces will be out of Iraq while these companies will be inside Iraq," he said. The US and Iraq agreed on the 30 September deadline for the departure of US forces in 2024, under former US president Joe Biden. The remaining US forces are positioned in bases in northern Iraq's Kurdistan region, where they came under repeated missile and drone attacks from Iran in March-April. "We don't think we need the military there any more," Trump said. "What we do have is the oil companies are all going in now and they're doing partnerships with Iraq, and they're getting along very well." In Trump's telling, renewed interest from US companies in Iraq testified to the success of his military campaign against Tehran. "Iran has been very much destabilized and their military power is just a tiny fraction of what it was just four months ago," Trump said. "I think that's one of the reasons that our oil companies are going in there at levels that have never been seen before." Trump prodded al-Zaidi to confirm that the 2020 killing of senior Iranian military commander Qassem Soleimani in a US strike in Baghdad has reduced Iran's influence in Iraq. "At that time, I was not in politics," said Al-Zaidi, who had been a businessman with interests spanning banking, trade and food supply networks before his appointment. "During my visit, I'd like to talk about the future, we are fed up with the past," he told Trump. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Q&A: Aygaz eyes US LPG and clean cooking opportunities
Q&A: Aygaz eyes US LPG and clean cooking opportunities
London, 14 July (Argus) — Turkey's largest LPG distributor, Aygaz, is a major importer and regional trader. The company also jointly owns Bangladeshi distributor United Aygaz LPG, having acquired a 50pc stake in the firm in 2019. More recently, it invested in three new VLGCs as it expanded into the LPG shipping sector. Argus' Waldemar Jaszczyk spoke with Aygaz chief executive Melih Poyraz about the firm's recent developments, the current operating climate and future plans. Edited highlights follow: How has the Iran war affected the Turkish LPG market and Aygaz? The Turkish market is supplied mainly from the US and Algeria, so we didn't have any problems getting product. But everyone turned to the US, and longer trade routes caused tanker rates to skyrocket. If you were getting your tonnes through term contracts, it was not a big deal, but spot product could have been a huge problem. At Aygaz, we usually buy 80pc on a term basis and 20pc on a spot basis. Turkey has a big autogas market, and consumption grows during the summer driving season. Aygaz supplies more than half of the retail and wholesale sectors. We also export hundreds of thousands of tonnes to Mediterranean countries. So we had to manage our demand carefully. We drew down our inventories, which typically stand at 60,000t at our terminals, to avoid buying on the spot market and paying premiums, especially when India was trying to buy at the same time. In Bangladesh, thanks to our risk-management policies, we were buying not only from the Mideast Gulf but also on a term basis from the US. As a result, we were the only ones able to provide a steady supply. Our biggest concern was supplying the market and helping the government rather than making a profit. How did your consumers respond to price hikes? The Turkish government reduced the special consumption tax on fuels to offset the surge in global prices. There was a hike in prices, but autogas consumers did not really feel the pain. Now that prices have dropped, the tax rate is rising again. In Bangladesh, the moment the [Saudi Aramco contract price] increased, we saw demand destruction. Consumers there are quite price-sensitive compared with those in Turkey because of lower income per capita, and demand is very elastic. Turkey's imports from the US rose to record highs in the first half of 2026 as Algerian and Russian supplies were disrupted. Do you expect this to continue? A lot of US LPG will be coming to the market in 2027-28. Mont Belvieu LPG is the cheapest, and it's going to get cheaper. Supply in the US will increase by about 30-50pc depending on the start-up of new projects. This has to be exported and the product will remain competitive. Imports from the US will increase throughout the region, which will support the industry. It will be easier to convince the Turkish owners of 2mn gasoline cars built over 2010-20 to convert them to LPG because of autogas' price competitiveness. Will Aygaz buy from Russia's new Ust-Luga LPG terminal that can ship VLGCs? It gets harder for Russian cargoes to flow. We have to be very careful about sanctions. But when you look at the location, it's much easier because we are very close to Russia. If the situation stays as it is, imports from Russia will not increase, no matter what infrastructure is built. If there's peace, it could be an opportunity. Aygaz has ordered three VLGCs this year at a cost of $353mn. How will you utilise the new vessels? The US tonnes will have to flow. But how? You need more vessels. The average vessel age in LPG is high. New vessels run on LPG as well. Suddenly, instead of paying $700-800/t for fuel oil, you pay $400/t because the tanker will be consuming LPG from the US cargo. This provides quite a big advantage because, during the 27-28-day journey, your consumption and carbon footprint drop. Then when I look at the Mont Belvieu arbitrage to other indexes, when it increases, so do VLGC rates. If you want to capture this, you have to buy a vessel. It was not easy convincing our holding company, but we are happy that we did. Can Turkey sustain its recent growth in LPG re-exports? The biggest problem for trade in the Black Sea region is security, particularly the risk of drone attacks. Everyone talks about the safety of terminals, but no one talks about the safety of tankers, which is at least as important. If I have a tanker going into Bulgaria and a drone attack happens, which authority am I meant to call? Shipping rates increase because insurance is more expensive, and suddenly trade decreases. In the south, Syria has huge potential after the sanctions were lifted. Once the Iran war ends, we will have more trade with our neighbours. How has your Bangladeshi business fared since your investment in 2019, and what is the domestic outlook? It is a very big market — more than 200mn people. The country has natural gas supply but it is diminishing and they want to use it for industry. It's also much easier to move LPG into rural areas. Consumption is very low, but a huge, young population will turn into middle-income consumers in the coming years. We are very happy with our joint venture and our partners. In four years, we have gained more than a 12pc market share at 300,000 t/yr from scratch. We have a terminal in Chittagong with a storage capacity of 16,000t. We will add another 5,000t there at the end of 2026. It is the only facility in the country capable of handling midsize ships carrying 22,000t. We also plan to expand our 3,000t site in Dhaka to 5,500t in the second half of 2027. Do you plan to expand into other clean cooking markets? We currently trade 2.4mn-2.5mn t/yr, but we want to reach 5mn t/yr in the next 10 years. We want to grow, especially in Africa and southeast Asia, which are our target markets. But sometimes valuations can be a bit too high and we don't want to overpay. We have patience, and when the right time comes, we will step in. What is your outlook for the Turkish market in the coming years? I don't expect to see a huge decrease in the cylinder market, currently about 500,000 t/yr, as natural gas penetration is largely completed and LPG is still required in many areas. For autogas, there is the huge potential of converting the 2mn gasoline cars built in 2010-20 to LPG. We work extensively with conversion companies and [car manufacturers] to convince them to produce more LPG cars. And while hybrid and electric vehicle sales are increasing, people are price-sensitive, especially in the Anatolian region. Turkey will host the next Cop 31 climate summit and the World Liquid Gas Association's (WLGA) Liquid Gas Week this year. What are your expectations? I'm the vice-president of the WLGA. We are very excited about it and have put a lot of effort into it. [IEA executive director] Fatih Birol will be the keynote speaker at our event, which could be the largest the WLGA has ever hosted. For the industry, these are great years. It is going to help us show governments that the world needs more LPG and that the industry is capable of changing people's lives. The Turkish government is keen to support LPG in Africa and Bangladesh. So these are exciting times for us, and challenging as well. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
