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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
954.00
-62.00
1 225.00
+10.00
May 12
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	954.00	-62.00	1 225.00	+10.00	May 12

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
772.04	+1.80	941.11	+9.25	1 397.26	+5.47	May 12

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MABUX Market Differential Index (MDI)

Correlation between market bunker prices (MBP) and MABUX Digital Bunker Price Benchmark (DBP)

All Indexes in $/mton	380HSFO			VLS FO			MGO LS			Date
All Indexes in $/mton	MBP Index	DBP Index	MDI	MBP Index	DBP Index	MDI	MBP Index	DBP Index	MDI	Date
Rotterdam	703	727	-24	810	808	+2	1 225	1 320	-95	May 12
Singapore	705	755	-50	810	898	-88	1 187	1 313	-126	May 12
Fujairah	700	702	-2	887	868	+19	1 515	1 376	+139	May 12
Houston	655	726	-71	840	849	-9	1 190	1 262	-72	May 12

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Latest News
- 2026-05-12
  Oil prices rise as fragile US-Iran talks sustain supply worries
  Oil prices rose nearly 1% on Tuesday as talks to end the U.S.-Israeli war on Iran appeared fragile, with Tehran’s response to a Washington proposal highlighting stark differences that have kept supply concerns alive. Brent crude futures were up 86 cents,... Read more Oil prices rose nearly 1% on Tuesday as talks to end the U.S.-Israeli war on Iran appeared fragile, with Tehran’s response to a Washington proposal highlighting stark differences that have kept supply concerns alive.
  Brent crude futures were up 86 cents, or 0.8%, at $105.07 per barrel, while U.S. West Texas Intermediate gained 99 cents, or 1%, to $99.06 at 0411 GMT. Both benchmarks increased nearly 2.8% on Monday.
  U.S. President Donald Trump on Monday said the ceasefire with Iran was "on life support," pointing to disagreements over several demands, such as the cessation of hostilities on all fronts, the removal of a U.S. naval blockade, the resumption of Iranian oil sales and compensation for war damage.
  Tehran also emphasized its sovereignty over the Strait of Hormuz, through which about a fifth of global oil and liquefied natural gas flows.
  "Optimism regarding an imminent (peace) deal seems to be fading again and if we don’t see a deal by the end of May, then upside risks for oil prices are definitely on the table," said DBS Bank energy sector team lead Suvro Sarkar.
  Disruptions linked to the near-closure of the strait have prompted producers to curtail exports, with a Reuters survey on Monday showing OPEC oil output in April fell to its lowest level in more than two decades.
  "A genuine breakthrough toward a peace deal could trigger a sharp $8-$12 correction, while any escalation or renewed blockade threats would quickly push Brent back toward $115+," said Tim Waterer, chief market analyst at KCM Trade.
  
  Saudi Aramco CEO Amin Nasser on Monday warned that disruptions to oil exports through the strait could delay a return to market stability until 2027, with the loss of about 100 million barrels of oil per week.
  Elsewhere on the supply front, U.S. crude stocks were forecast by analysts in a Reuters poll to be down by around 1.7 million barrels in the previous week. [EIA/S]
  The draw comes against "a backdrop of continued strong net waterborne export flows for crude and products, across the next several weeks," said Walt Chancellor, an energy strategist at Macquarie Group.
  Meanwhile, market participants were also keeping a close eye on Trump’s planned meeting with Chinese President Xi Jinping on Wednesday, after Washington imposed sanctions on three individuals and nine companies for facilitating Iranian oil shipments to China.
  Source: Reuters/Investing.com
- 2026-05-12
  Aramco Sees Slow Oil Market Recovery after Shock Supply Loss
  The oil market will take months to normalize even if flows through the Strait of Hormuz resumed today, as 1 billion barrels of oil have been wiped off the supply balance over the past two and a half months. That’s the verdict on the global oil markets... Read more The oil market will take months to normalize even if flows through the Strait of Hormuz resumed today, as 1 billion barrels of oil have been wiped off the supply balance over the past two and a half months.
  
  That’s the verdict on the global oil markets of Amin Nasser, chief executive officer of Saudi Arabia’s state oil giant and the world’s single largest crude oil exporter, Saudi Aramco.
  
  “Reopening routes is not the same as normalizing a market that has been deprived of about one billion barrels of oil,” Nasser told Reuters in statements this weekend after the Saudi oil giant reported consensus-beating Q1 earnings despite the closure of the Strait of Hormuz for a full month in the first quarter.
  
  In comments on the results, Nasser said in the Aramco press release that the company showed strong operational flexibility in re-routing exports through the East-West pipeline to the Yanbu export port on the Red Sea, which bypasses the closed-off Strait of Hormuz.
  
  “Our East-West Pipeline, which reached its maximum capacity of 7.0 million barrels of oil per day, has proven itself to be a critical supply artery, helping to mitigate the impact of a global energy shock and providing relief to customers affected by shipping constraints in the Strait of Hormuz,” Nasser said.
  
  Apart from flexibility to serve customers despite the closure of the world’s biggest oil chokepoint, Nasser also touted the importance of oil and gas in global economic growth.
  
  “Recent events have clearly demonstrated the vital contribution of oil and gas to energy security and the global economy, and are a stark reminder that reliable energy supply is critical,” Aramco’s top executive said.
  
  The shock supply loss is draining inventories across all markets, with some regions and countries, especially in Asia, already under severe stress to procure oil supply.
  
  The 1-billion-barrel loss, and counting, from global supply will reverberate through the oil market for months to come, even if the Strait of Hormuz opened unconditionally to free tanker traffic soon.
  
  This prospect, however, appeared distant as of early on Monday, as U.S. President Donald Trump rejected the Iranian response to a U.S.-drafted peace proposal.
  
  Regardless of when supply from the Middle East would normalize, the damage to the global oil market is already done. It will take months after an eventual reopening of the Strait of Hormuz for the market to stabilize, according to Aramco’s Nasser, top executives at other oil producers, and analysts.
  
  “We have dug ourselves a hole of close to 1 billion barrels of crude shortage at the moment, either because of locked in barrels or unproduced barrels, and of course, that hole is deepening every single day,” Shell’s CEO Wael Sawan told analysts on the Q1 earnings call last week.
  
  “The journey back will be a long one,” Sawan added.
  
  CEO Darren Woods said on ExxonMobil’s earnings call, “it’s obvious to most that if you look at the unprecedented disruption in the world supply of oil and natural gas, the market hasn't seen the full impact of that yet.”
  
  “There’s more to come if the Strait remains closed.”
  
  Even if the Strait opened up today, “there's going to be a one to two-month time lag between the Strait opening up and the market seeing normal flow,” Woods said.
  
  The 2026 surplus scenario was quickly erased by the war with “global hydrocarbon inventories being materially drawn to balance the market, already at a pace of 10 to 13 million barrels of oil per day,” Patrick Pouyanné, chief executive at TotalEnergies, said on the supermajor’s earnings call last week.
  
  The shock to the system is huge and will take months after a reopening of the Strait of Hormuz to overcome.
  
  Source: Oilprice.com
- 2026-05-12
  Jet Fuel Shortage Deepens Pressure on Global Airlines
  Passenger numbers at Europe’s biggest airport fell by five per cent in April to 6.7m with the blame being attributed to the “ongoing impact of the Middle East conflict”. For those heading to that particular region, Heathrow saw a whopping 50 per cent... Read more Passenger numbers at Europe’s biggest airport fell by five per cent in April to 6.7m with the blame being attributed to the “ongoing impact of the Middle East conflict”.
  
  For those heading to that particular region, Heathrow saw a whopping 50 per cent drop in volumes.
  
  Still, in the year-to-date (Jan–Apr) traffic maintained modest growth at 1.2 per cent.
  
  Transfer demand grew ten per cent in April, as travellers rerouted through Heathrow to reach Asia and Oceania, helping offset losses in direct Middle Eastern travel.
  
  Travel to Asia remained a major growth driver, with a 5.6 per cent increase in April and a 10.6 per cent increase year-to-date.
  
  “We know passengers want certainty when planning their hard-earned summer holidays, so we are supporting Government and airlines as they work through their plans to get passengers on their journeys,” Thomas Woldbye, Heathrow’s top boss, said.
  
  Jet fuel crisis ‘worse’ than Covid
  
  Growing anxieties around the jet fuel shortage caused by the Iran war have rocked the travel industry.
  
  Tony Fernandes, chief executive of Air Asia, said last week: “I thought I’d seen it all with Covid […] but having seen jet fuel go up almost three times — this is much worse.”
  
  It comes after supplies for jet fuel have tumbled to their lowest level since records began, as the war blocks crucial shipping lanes for fuel.
  
  Spirit Airlines – a US-based low-cost airline – last week collapsed under mounting pressure caused by surging oil prices. The firm had failed to secure a $500m lifeline from the Trump administration, leaving it to go out of business and cancel all flights.
  
  Researchers at Allianz Trade warned the UK is among the most “structurally exposed” to jet fuel shortages.
  
  Meanwhile, transport secretary Heidi Alexander has loosened “use it or lose it” rules in a bid to soften the pressures facing airlines.
  
  Woldbye said: “While we have seen some short?term disruption linked to the Middle East conflict, demand for travel remains strong with current fuel supplies stable.” Source: Oilprice.com
- 2026-05-12
  MABUX: Global bunker market to continue upward movement on May 12.
  The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO — recorded an upward trend on May 11: 380 HSFO: USD/MT: 770.24 (+3.35) VLSFO: USD/MT 931.86 (+8.25) MGO: USD/MT 1 391.79 (+11.03) As of May... Read more The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO — recorded an upward trend on May 11:
  
  380 HSFO: USD/MT: 770.24 (+3.35)
  VLSFO: USD/MT 931.86 (+8.25)
  MGO: USD/MT 1 391.79 (+11.03)
  
  As of May 11, the MABUX Market Differential Index (MDI). which tracks the spread between Market Bunker Prices (MBP) and the MABUX Digital Bunker Benchmark (DBP), indicated the following trends across the four major global bunkering hubs: Rotterdam, Singapore, Fujairah, and Houston:
  
  • HSFO segment: Fujairah remained the only overcharged port, although its premium narrowed by $4. The other three hubs continued to be undercharged: the discount narrowed by $99 in Rotterdam, widened by $19 in Singapore, and edged down by $1 in Houston.
  
  • VLSFO segment: Rotterdam Fujairah and Houston were in the overcharge zone. Overpricing premiums declined by $2 in Rotterdam and $4 in Fujairah, while remaining unchanged in Houston, where the MDI continued to stay close to full correlation between MBP and DBP.
  
  • MGO LS segment: Three ports: Rotterdam, Singapore, and Houston continued to be undercharged. Underpricing widened by $46 in Rotterdam, $54 in Singapore, and $15 in Houston. Fujairah remained the only overcharged port, with its premium decreasing by $41. MDI values in Rotterdam, Singapore and Fujairah were above the $100 threshold.
  
  MABUX expects the global bunker market to maintain an upward trend on May 12: plus 3-7 USD/MT, VLSFO: plus 2–10 USD/MT, MGO LS: plus 5–15 USD/MT.
  Source: MABUX
- 2026-05-12
  Why Bernie Sanders Is Wrong About Gas Prices
  When lawmakers propose solutions to complex economic problems, the first requirement should be a clear understanding of how those problems actually work. A recent Facebook post by Bernie Sanders comparing today’s oil and gasoline prices to those in... Read more When lawmakers propose solutions to complex economic problems, the first requirement should be a clear understanding of how those problems actually work.
  
  A recent Facebook post by Bernie Sanders comparing today’s oil and gasoline prices to those in 2011 suggests that oil companies are “ripping off” consumers. The logic is straightforward: if oil prices are roughly the same, gasoline prices should be as well. If they aren’t, someone must be taking advantage.
  
  It’s an intuitive argument, but it misses important elements of the story.
  
  Although gasoline prices have a high degree of correlation with crude oil prices, there are many reasons those prices can diverge. Gasoline is a manufactured product that sits at the end of a long, complex, and often strained supply chain. Focusing only on the price of a barrel of oil ignores the physical realities that determine what consumers ultimately pay at the pump.
  
  From Crude to Gasoline: A System Under Strain
  
  The price of crude oil is only the starting point. Between the wellhead and the gas station lies a network of refineries, pipelines, storage terminals, and transportation systems.
  
  When that system is operating smoothly, the relationship between oil and gasoline prices is relatively stable. When it isn’t, the two can diverge significantly.
  
  That is exactly what we are seeing today.
  
  The Refining Constraint Most People Miss
  
  One of the biggest differences between 2011 and today is refining capacity.
  
  Over the past decade, the U.S. and parts of Europe have lost meaningful refining capacity due to closures, conversions to renewable fuels, and underinvestment. At the same time, demand has rebounded strongly following the COVID-19 pandemic.
  
  The result is a system that is running with very little slack. Refinery utilization rates are often in the mid-90% range. At those levels, even minor disruptions can have an outsized impact.
  
  This is where the concept of the “crack spread” comes into play. It reflects the margin refiners earn by turning crude oil into gasoline and diesel. When capacity is tight, those margins expand. That can push gasoline prices higher even if crude oil prices remain relatively stable.
  
  In other words, you can have plenty of oil available and still face high fuel prices because the bottleneck is not supply of crude, but the ability to process it.
  
  War Doesn’t Just Raise Prices. It Disrupts Systems
  
  The current geopolitical environment adds another layer of complexity.
  
  Conflicts in key regions, including tensions involving the Strait of Hormuz, do not simply raise oil prices. They disrupt logistics. Shipping routes change. Insurance costs rise. Delivery times increase. Supply chains become less efficient.
  
  Refineries are also highly specialized. They are designed to process specific grades of crude oil. When geopolitical disruptions force a shift in sourcing, refiners may have to run less optimal feedstocks, which can reduce the yield of gasoline per barrel. This is also what happened following Russia’s invasion of Ukraine, which resulted in skyrocketing diesel and gasoline prices.
  
  These are mechanical, physical constraints. They act like a hidden tax on the system, increasing the cost of producing and delivering fuel even if the headline price of crude oil appears unchanged.
  
  This Isn’t New. It’s Just Misunderstood
  
  The divergence between oil and gasoline prices is not a new phenomenon.
  
  After Hurricane Katrina in 2005, for example, crude oil prices softened because refineries were offline and couldn’t process available supply. At the same time, gasoline prices surged due to shortages of finished fuel.
  
  The lesson is simple: the energy system behaves like a chain. If one link breaks or tightens, the entire system adjusts. Prices reflect those constraints.
  
  What we are seeing today is a similar dynamic, driven not by a hurricane but by geopolitical disruption and structural changes in refining capacity.
  
  Profits Are the Result, Not the Cause
  
  It is true that energy companies are reporting strong profits. But those profits are largely a consequence of high prices, not the underlying cause of them.
  
  When supply is constrained, and demand remains strong, prices rise. When prices rise, profits follow.
  
  That distinction is important. If high prices were simply the result of companies choosing to charge more, the solution would be straightforward. But when prices are driven by physical constraints, logistical friction, and global market dynamics, the problem is far more complex.
  
  The Risk of Misdiagnosing the Problem
  
  Policies like windfall profits taxes are often proposed as a response to high energy prices. But if the diagnosis is wrong, the prescription can make the situation worse.
  
  Discouraging investment in refining and midstream infrastructure does not lower prices. It tightens capacity further, increasing the likelihood of future price spikes.
  
  If the goal is to bring down fuel costs, the focus should be on improving system capacity, reducing bottlenecks, and stabilizing supply chains.
  
  The Bottom Line
  
  Comparing oil prices across time periods without accounting for the broader system leads to misleading conclusions.
  
  Gasoline prices are shaped by far more than the cost of crude. Refining capacity, logistics, geopolitics, and infrastructure constraints all play critical roles.
  
  If policymakers want to address high fuel prices effectively, they must start with a clear understanding of those realities.
  
  Because in energy markets, as in economics more broadly, getting the diagnosis right is the first step toward getting the solution right. Source: Oilprice.com
- 2026-05-12
  Reuters Survey Shows OPEC Oil Output At 26-Year Low Amid Iran War
  OPEC oil output has declined to its lowest level since 2000, with production falling by 830,000 barrels per day (bpd) to an average of 20.04 million bpd in April, according to a Reuters survey published Monday. Kuwait recorded the largest production... Read more OPEC oil output has declined to its lowest level since 2000, with production falling by 830,000 barrels per day (bpd) to an average of 20.04 million bpd in April, according to a Reuters survey published Monday.
  
  Kuwait recorded the largest production drop, with reports indicating it exported zero crude in April thanks to its total reliance on the Strait of Hormuz.
  
  Saudi Arabia and Iraq also saw significant output decreases as they were forced to shut-in production. Saudi production dropped towards 7 million barrels per day (bpd) following attacks on energy infrastructure, including a 600,000 bpd capacity loss from damaged facilities. However, the kingdom has primarily been using the 1,200 km East-West Pipeline (Petroline) that connects Abqaiq on the Persian Gulf to the port of Yanbu on the Red Sea to transport its oil. Oil is loaded onto tankers at the Yanbu terminal, avoiding the need for ships to pass through the Strait of Hormuz.
  
  The United Arab Emirates (UAE) was the only Gulf member that was able to increase production in April. The UAE was able to leverage the Fujairah terminal on the Gulf of Oman to bypass the bottleneck, allowing it to export more crude than its peers. The UAE is producing roughly 3.2 to 3.6 million barrels of oil per day, though some estimates indicate a capacity as high as 4 million barrels per day. The state-owned ADNOC is actively expanding, targeting a production capacity of 5 million barrels per day by 2027 after it exited OPEC and OAPEC in early May, 2026.
  
  Both Venezuela and Libya were able to increase their oil production in April, though these gains were insufficient to offset the massive supply disruptions caused by conflict in the Persian Gulf. Venezuela’s oil exports rose to 1.23 million barrels per day (bpd) in April, the highest level since 2018, following eased U.S. sanctions earlier in the year and improved operational stability in the Orinoco Belt. Meanwhile, Libya’s production reached 1.43 million bpd, good for a 10-year high as the National Oil Corporation repaired infrastructure and worked to increase output despite ongoing regional tensions.
  Source: Oilprice.com
- 2026-05-12
  India Rejects Russian LNG Under Sanctions
  India has officially declined Russia's offer to sell liquefied natural gas (LNG) from projects currently under U.S. sanctions, following April reports of an LPG-laden tanker en route to western India, according to Indian media reports on Monday. Last... Read more India has officially declined Russia's offer to sell liquefied natural gas (LNG) from projects currently under U.S. sanctions, following April reports of an LPG-laden tanker en route to western India, according to Indian media reports on Monday.
  
  Last month, Reuters reported that the 138,200-cubic-metre tanker Kunpeng was heading from Russia's Baltic Portovaya plant to the Dahej LNG terminal in western India. This shipment involved U.S.-sanctioned Russian LNG, signaling a potential first such delivery to India, with Energy Intelligence reporting that the cargo may have been accompanied by documentation attempting to label it as non-Russian in a bid to bypass restrictions. However, LSEG data indicates that the vessel is currently sailing near Singaporean waters without a confirmed destination. Indian buyers and terminal operators have reportedly refused to accept it to avoid violating U.S. sanctions following discussions with Russia.
  
  India's reluctance to buy sanctioned LNG from Russia has left a large LNG cargo from Russia's Portovaya plant in the Baltic Sea unable to discharge. The cargo consists of approximately 60,000 tons of heavily discounted LNG.
  
  Last month, the Indian Ministry of External Affairs (MEA) dismissed reports suggesting that India requested a U.S. sanctions waiver to resume Russian LNG imports similar to previous oil arrangements, labeling such reports as speculative. Back in January, the Trump administration significantly escalated sanctions against Russia's LNG sector, particularly targeting the Arctic LNG 2 project, as part of its ongoing efforts to curb revenue for the war in Ukraine. The sanctions involved over 180 vessels considered part of Russia's "shadow fleet," along with numerous oil and gas traders and service providers. Washington has warned that any entity, including foreign financial institutions, doing business with sanctioned Russian LNG projects faces a high risk of secondary sanctions.
  
  In March, the U.S. Treasury issued temporary 30-day waivers allowing India to purchase Russian oil stranded at sea. These measures were designed to stabilize global energy markets after the conflict in the Middle East caused oil prices to rise and prompted Iran to threaten the Strait of Hormuz. Despite the expiration of earlier waivers, India has maintained its imports of Russian energy by emphasizing national energy security, with Russian oil accounting for a substantial portion of India's total imports amid the ongoing conflict. Source: Oilprice.com
- 2026-05-12
  Oil Prices Jump After Trump Rejects Iran’s Peace Proposal
  Oil prices rallied on Monday morning after U.S. President Donald Trump rejected Iran’s response to a U.S. peace proposal, “I don’t like it – totally unacceptable,” Trump said in a Truth Social post, quashing hopes for an imminent resolution to the Middle... Read more Oil prices rallied on Monday morning after U.S. President Donald Trump rejected Iran’s response to a U.S. peace proposal, “I don’t like it – totally unacceptable,” Trump said in a Truth Social post, quashing hopes for an imminent resolution to the Middle East conflict that kicked off in late February. Brent crude for July delivery was up 1.% to trade at $103.3 per barrel at 9.48 am ET while WTI crude for June delivery gained 1.04% to trade at $96.41/bbl.
  
  Last week, the White House offered a one-page, 14-point memorandum focused on an immediate end to fighting and reopening the Strait of Hormuz, while deferring more complex issues like Iran’s nuclear program for later talks. Tehran’s response, delivered via Pakistani mediators, included demands for recognition of Iranian sovereignty over the Strait of Hormuz; payment of war reparations for damage caused during the conflict; lifting of all U.S. sanctions and an end to the naval blockade of Iranian ports as well as the release of frozen Iranian assets. Tehran has defended its stance,"Our demand is legitimate: demanding an end to the war, lifting the (U.S.) blockade and piracy, and releasing Iranian assets that have been unjustly frozen in banks due to U.S. pressure," Foreign Ministry spokesperson Esmaeil Baghaei said.
  
  Trump’s rejection of Tehran’s demands increases the risk of a return to a full-blown war. "They are defeated, but that doesn't mean they're done," Trump told reporters on Monday, suggesting a potential return to kinetic action. He emphasized that the U.S. continues to monitor Iran's enriched uranium stockpiles via Space Force surveillance and warned of further strikes if a real end to the nuclear issue is not reached.
  
  Despite a U.S.-brokered ceasefire in Lebanon, clashes between Israel and Hezbollah have persisted. Israeli Prime Minister Benjamin Netanyahu has maintained that the war is not over until Iran's nuclear enrichment sites are dismantled. When questioned on how to achieve this, Netanyahu responded, "You go in, and you take it out," hinting at potential direct physical intervention in his 60 Minutes interview. Source: Oilprice.com
- 2026-05-12
  Europe's Renewable-Plus-Battery Market Set to Quintuple by 2030
  Capacity installations of renewable energy co-located with batteries for storage are expected to surge in Europe from 6 gigawatts in 2025 to as much as 35 GW by 2030, a new report by Aurora Energy Research showed on Monday. The research examined developments... Read more Capacity installations of renewable energy co-located with batteries for storage are expected to surge in Europe from 6 gigawatts in 2025 to as much as 35 GW by 2030, a new report by Aurora Energy Research showed on Monday.
  
  The research examined developments in 20 European markets in terms of attractiveness for co-location, and identified Germany, Great Britain, and Bulgaria as Europe's most attractive co-location investment markets.
  
  Germany is the most attractive co-location market, thanks to its sheer size and significant upside potential for investment returns, according to Aurora Energy Research.
  
  Britain and Bulgaria share the second place as most attractive markets to develop solar or wind plus battery projects. Great Britain benefits from substantial installed capacity and a pipeline of projects backed by contracts for difference that would help offset grid connection delays. Bulgaria, for its part, combines strong subsidies, a robust pipeline, and favorable economics, analysts at Aurora Energy Research said.
  
  “Co-location is no longer a niche solution: it is increasingly critical to protecting project economics and sustaining investment momentum,” said Sameer Hussain, Research Senior Analyst at Aurora Energy Research.
  
  “As renewable penetration accelerates, grid congestion, curtailment and price volatility are becoming defining features of Europe’s power markets,” the analyst said.
  
  The investment drive behind co-location of renewable-plus-storage projects differs across Europe, commented Jörn Richstein, Research Lead, Pan European Power Markets, Policies & Technologies, at Aurora Energy Research.
  
  “In some markets it is driven by merchant upside, in others by subsidy-supported stability, and elsewhere by the need to overcome grid constraints and limit curtailment,” Richstein said.
  
  Curtailment, the process of curbing renewables output to protect the grid in case of oversupply, is expected to more than triple from over 10 TWh in 2024 to around 33 TWh by 2030 across key markets, according to Aurora Energy Research.
  
  “Co-located storage helps mitigate these risks by shifting generation, reducing curtailment and improving capture prices as highlighted by Aurora,” the analysts said. Source: Oilprice.com
- 2026-05-12
  Australia's Biggest Untapped Gas Field Just Got a Lot More Expensive
  The Browse LNG project in Australia, proposed by Woodside Energy, is set to cost about $35 billion, a new report commissioned by the Australian oil and gas major showed on Monday. Woodside first proposed the Browse to North West Shelf (NWS) Project... Read more The Browse LNG project in Australia, proposed by Woodside Energy, is set to cost about $35 billion, a new report commissioned by the Australian oil and gas major showed on Monday.
  
  Woodside first proposed the Browse to North West Shelf (NWS) Project to deliver natural gas from the Calliance, Torosa, and Brecknock fields to the existing Karratha Gas Plant back in 2018. Cost estimates as of 2019 pointed to US$20 billion (AUS$27.3 billion) of total investment.
  
  However, the project, which has been long delayed due to a carbon capture and storage (CCS) component and more approvals needed, is now set to cost about US$35 billion, or AUS$48.7 billion, according to a new economic impact assessment by Deloitte Access Economics.
  
  The Browse project proposes to connect the natural gas fields via a 900-kilometre pipeline, connected to two floating production storage and offloading facilities, while a CCS solution has been incorporated into the offshore design.
  
  Production capacity at Browse is planned to be 11.4 million tonnes per annum (LNG, LPG, and domestic gas) and a peak condensate production rate of 50,000 barrels per day.
  
  The project is currently in the concept definition phase, and key activities continue in support of progress towards front-end engineering and design entry, Woodside said today.
  
  The Deloitte modeling and assessments have found that the Browse project would deliver a long-term uplift of around US$106 billion (AUS$147 billion) in gross state product for Western Australia and US$102 billion (AUS$141 billion) in gross domestic product nationally, Woodside said.
  
  The project may have good chances to pass all pre-development and pre-construction stages in the coming years as Australian and Asian energy demand is rising, while the Middle Eastern crisis has created new energy security concerns among buyers.
  
  Amid the global LNG supply crisis, Australia's government last week mandated energy companies in the country to set aside 20% of their natural gas output for the domestic market to avoid supply shortages along the east coast. Source: Oilprice.com

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