Results for: LNG

European Union nations have failed to reach an agreement on new sanctions against Russia’s lucrative liquefied natural gas (LNG) sector, just a day before the start of the Ukraine Peace Summit. Germany has emerged as the main obstacle to the deal, which would have been the 14th package of sanctions imposed by EU members since Russia’s invasion of Ukraine. The proposed package included a ban on re-exporting Russian LNG from EU ports and financing planned Arctic and Baltic LNG terminals. Germany is concerned that broadening the sanctions to cover civilian products, such as chemicals and metalworking machinery, would negatively impact small businesses. The European Commission is reportedly negotiating with the German government to convince Berlin to lift its veto. The disagreement highlights divisions within Germany’s governing coalition, with Foreign Minister Annalena Baerbock calling for stronger sanctions against Belarus.

Baker Hughes (BKR), a leading oilfield services company, has reported a solid first quarter with a 50% increase in earnings per share (EPS) compared to the previous year and a significant rise in EBITDA margins. The company has secured major contracts with industry giants such as Petrobras, Aramco, and Black & Veatch and is focusing on growth opportunities in natural gas, LNG, and new energy sectors. With a positive outlook for international markets and a strategic emphasis on artificial intelligence and decarbonization, Baker Hughes is positioning itself to meet the evolving demands of the energy sector.

New Brunswick Premier Blaine Higgs has proposed exporting natural gas to Europe as a way to reduce carbon emissions globally and avoid the federal carbon tax. However, his plan faces several hurdles, including local opposition to fracking, international energy market dynamics, and the lack of an accounting system for global emissions reductions. Critics argue that Higgs’s focus on reducing emissions elsewhere is short-sighted and that Canada needs to take responsibility for its own emissions.