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EU countries agree to prolong gas project funding, with caveats


3 Min Read
BRUSSELS (Reuters) -European Union energy ministers on Friday agreed to prolong EU support for some cross-border natural gas projects, despite a push from 11 countries and the European Commission who said such funding should end to comply with climate change goals.
FILE PHOTO: A large European Union flag lies at the centre of Schuman square, outside the European Commission headquarters, on the eve of Europe Day, commemorating the declaration made by Robert Schuman in 1950, in Brussels, Belgium, May 8, 2021. REUTERS/Yves Herman//File Photo
The EU’s “TEN-E” rules define which cross-border energy projects can be labelled Projects of Common Interest (PCI), giving them access to certain EU funds and fast-tracked permits. ....

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China to overtake Japan as world's top LNG buyer in weeks, ICIS says


2 Min Read
(Reuters) - China’s rising imports of liquefied natural gas (LNG) position it to surpass Japan this year as the world’s largest buyer of the superchilled fuel, pricing data and cargo tracking firm ICIS Edge said on Wednesday.
The shift - which some analysts had not expected until 2022 - could happen very soon on a 12-month rolling basis as China’s strong economic recovery, cold weather and a crackdown on pollution boosted demand for the less polluting fossil fuel.
Japan has been world’s biggest LNG importer for decades and the change would signal a major shift in one of the fastest growing energy markets. Purchases from Tokyo, which burns gas from LNG to produce electricity, have been in long-term decline. ....

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