Australia’s LNG Industry Warns Policy Uncertainty Is Hurting Investment

By Tsvetana Paraskova - May 24, 2026

• Australian LNG producers are urging Canberra to speed up project approvals, maintain fiscal stability, and avoid tougher taxes to support new gas supply and investment.
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• The industry sees the Iran war and disrupted Qatari LNG exports as a major opportunity for Australia to strengthen its role as a reliable LNG supplier to Asia.
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• Executives warn that policy uncertainty, export debates, and regulatory delays could undermine Australia’s long-term energy security and global competitiveness.
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Australia’s energy producers are calling for state and federal support in faster approvals of new projects and fiscal stability. These could help the world’s third-biggest LNG exporter grow its overseas markets amid the expected years-long turmoil in the global gas market in the wake of the Iran war.

Producers want long-term predictability in taxation, as well as faster permitting processes and environmental reviews from the state and federal governments. As a whole, the industry seeks clarity and certainty that would incentivize producers to invest in new supply to meet growing demand for gas in Australia and the region, which Australia is ideally positioned to serve—Asia’s growing gas and LNG markets.

The current global LNG crisis, created by the loss of Qatar’s LNG supply due to the closed Strait of Hormuz and Iranian missile attacks on Qatari LNG infrastructure, is an opportunity for Australia to bolster its position as a reliable supplier, industry executives said at the Australian Energy Producers’ annual Conference and Exhibition this week.

“For Australia, the crisis has underscored the enormous advantage of having a strong domestic gas and LNG industry,” Cecile Wake, Chair of the Australian Energy Producers association, said in an address to conference attendees.

“Australia’s national interest is best served when we have a well-supplied, affordable and efficient domestic gas market AND a thriving LNG export industry,” Wake said, noting that increasing new supply is the key to achieving both objectives.

While there has been some progress at the state and federal level in advancing projects in recent months, more needs to be done by governments to support investment in new oil and gas supply, the Australian energy executives say.

At the end of April, the state of New South Wales launched the first natural gas exploration tender in ten years amid a supply crunch caused by the war in the Middle East.

The federal government has also just ruled out controls on exports of natural gas during the third quarter of 2026, as industry and experts have assured the government that the most vulnerable East Coast will not see any supply shortages between the winter months of July and September.

Australia’s decision not to implement gas export controls in the third quarter is good news for the global LNG market, which suddenly found itself in a major shortage after the Iran war crippled the Middle East’s LNG exports, with tight markets now expected to last much longer than previously thought.

For the long term, Australian producers need predictability and a strong oil and gas sector to protect energy security at home and help allies with LNG supply abroad, the executives say.

“It should not take a global energy crisis to recognize the significant strategic and economic advantage Australia holds from having a strong oil, gas and LNG sector,” Australian Energy Producers’ Wake said at the annual conference.

The industry will continue to provide reliable energy, but it asks policymakers to “provide the policy stability, internationally competitive settings, and project approval certainty to give our industry confidence to invest,” Wake added.

Kevin Gallagher, chief executive at one of Australia’s biggest oil and gas producers, Santos, warned that debates on the gas conservation policy expected from 2027 and on whether the industry should be taxed more could undermine investments in the Australian energy sector.

“This is a sliding doors moment for Australia, an opportunity to cement and bolster our country’s credibility as a predictable long-term destination for global capital, as a trading partner and as a country that understands prosperity is built over decades, not three-year cycles,” Gallagher said at the conference, as carried by The West Australian.

By Tsvetana Paraskova for Oilprice.com

 

Heat Pump Sales Surge Across Europe Amid Energy Shortages

By Felicity Bradstock - May 24, 2026

• Heat pump sales across Europe rose sharply in 2025 and early 2026 as households sought alternatives to expensive gas heating.
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• Rising Middle East tensions and high energy import costs are accelerating interest in electrified home heating systems.
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• Policy uncertainty in Germany and Austria could slow momentum despite growing long-term demand for heat pump technology.
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Heat pump uptake is on the rise in Europe, as consumers take their energy bills into their own hands. Europe, which already experienced high gas prices and energy shortages after Russia invaded Ukraine in 2022, is now experiencing widespread energy shortages and soaring prices due to the ongoing turmoil in the Middle East, sparked by the February U.S.-Israeli attack on Iran. While governments across the region have been investing in the deployment of more renewable energy capacity in recent years, most consumers still rely heavily on gas for heating and cooking. 

Many countries across Europe continue to depend on fossil fuels for heat. Most countries rely on foreign oil and gas imports rather than domestic production, meaning that they are extremely vulnerable to supply chain disruptions and price volatility. The European Commission president, Ursula von der Leyen, recently said that the European Union spent an additional 24 billion euros on energy imports in less than two months.

Unlike hot water radiators powered by gas, furnaces, or air conditioning units that blast out hot air, heat pumps provide energy-efficient heating, using electricity to transfer heat from a cool space to a warm space. In cold weather, heat pumps move heat from your house to the outdoors, while in warm weather, they move heat from the cool outdoors into your warm house. As they are designed to transfer rather than produce heat, it makes them more significantly energy efficient.

According to data from the United States Department of Energy (DoE), using a heat pump can reduce household electricity use for heating by up to 75 percent compared to electric resistance heating, such as furnaces and baseboard heaters. They can also help dehumidify houses better than air conditioners. While there are several different types of heat pumps, the most common is the air-source heat pump.

For years, heat pumps have been prohibitively expensive, leading many consumers in Europe to stick with regular gas-powered hot water boilers. However, as government incentives provide subsidies for heat pump uptake and gas bills rise to record highs, many consumers across the region are considering investing in an energy-efficient heat pump. This is no surprise considering the price of European natural gas has risen about 40 percent since February.

Heat pump sales in 2025 increased by 10.3 percent across 16 European countries on average, according to preliminary data from the European Heat Pump Association. Approximately 2.62 million residential heat pumps were sold, marking an increase from 2.38 million in those countries in 2024, and bringing the total installed in Europe to around 28 million.

In the first quarter of 2026, approximately 575,000 heat pumps were sold in 11 European markets, marking a 17 percent increase from the same period in 2025, according to the European Heat Pump Association. The increase in uptake was the greatest in France, Germany, and Poland.

Although consumer interest in heat pumps is growing, there is uncertainty over whether this can be sustained. Bureaucracy continues to be a barrier to uptake, as attaining the regulatory approval to install the equipment can take weeks or even months in some countries.

In Germany, the Minister of the Economy, Katherina Reiche, announced in May that the “rigid” requirement stating that new heating systems must be powered by at least 65 percent renewable energy would be scrapped. The government has also ended the ban on “forced heating system replacements or bans”, including the ban on new oil and gas heating systems, which has been phased in since 2024. The move aims to give homeowners greater freedom of choice and create “investment security” for construction companies.

However, critics suggest that the move will undo much of the progress towards transitioning away from gas-powered heaters to energy-efficient options, powered by renewable electricity. Jan Rosenow, a professor of energy and climate policy at Oxford University, explained, “the significant watering down of key provisions… postpones necessary decisions and will ultimately make the transition more expensive and more chaotic."

A similar situation has been seen in Austria, as the government halted heat pump subsidies in the first three months of the year when funds ran out. It is unclear whether consumers in these markets will still invest in new heat pump systems.

While there is still uncertainty around the potential pace of uptake, several companies are coming out with innovative heat pump technology that is expected to support a long-term shift.

In May, Amazon announced that it had signed a deal for a new type of rooftop heat pump that will provide all-electric heating, super-efficient cooling, and cheaper energy bills at several of the firm’s commercial buildings. Meanwhile, Mitsubishi Heavy Industries Air-Conditioning Europe announced plans to launch two new higher-capacity 10 kW and 14 kW water heat pumps, designed for large residential properties and small commercial applications.

By Felicity Bradstock for Oilprice.com

 

1 In 4 Cars Sold Globally Is An Electric Vehicle

By ZeroHedge - May 24, 2026

As Statista's Tristan Gaudiaut details below, according to the IEA Global EV Outlook 2026, published on May 20, global sales of electric cars, including plug-in hybrids, surpassed 21 million units last year, more than doubling since 2022, when annual sales first exceeded 10 million.

As the chart shows, EVs now account for roughly one in four passenger car sales globally, meaning their market share climbed to 25 percent in 2025, up from just 2 percent in 2018.

You will find more infographics at Statista

This rapid growth has been driven largely by China, which remains by far the largest market.

With more than 13 million electric vehicles sold in 2025, the country alone accounted for around 60 percent of global sales.

While adoption has also increased steadily in the rest of the world, with nearly 8 million units sold – largely in Europe and the United States – the data highlight China’s dominant role in shaping the global EV market.

By Zerohedge.com

 

Wind and Solar Overtake Gas Power Generation for the First Time

By Irina Slav - May 21, 2026

Wind and solar power generation topped gas-fired power plant output for the first time ever on a monthly basis in April, as the energy crunch limited gas availability and made the fuel more expensive.

Wind and solar installations generated 22% of the world’s electricity last month, climate outlet Ember reported, as cited by Reuters. Gas generation, meanwhile, accounted for 20% of the global total in April.

“The current energy crisis has further strengthened the economic case for renewables compared to imported gas, while also adding greater political urgency to accelerate deployment,” Ember global electricity analyst Kostantsa Rangelova said.

The above statement is arguable. The Strait of Hormuz crisis has affected a fifth of global liquefied natural gas production capacity, leading to surging prices and a switch from gas to coal across Asia, as the solid fuel remains the most affordable baseload generation option. Yet the crisis has also added momentum to wind and solar—especially solar—deployment as a fast alternative to hydrocarbons that are in increasingly short supply.

The parallel growth in wind and solar, on the one hand, and coal, on the other, is an interesting trend that suggests affordability remains the top priority for most. It undermines the argument in favor of a transition to wind and solar as reliable long-term alternatives to hydrocarbons, but it also highlights that they can be used as alternatives in times of tighter supply of gas, especially during peak output season for both wind turbines and solar panels.

What is more, as some observers have noted, the current shift in energy demand patterns will change as soon as the Strait of Hormuz reopens and gas flows return to pre-war levels.

“Some people are saying this oil-price spike will do what the Paris Agreement and EV mandates haven’t,” Bob McNally, founder of Rapidan Energy Group and former White House energy adviser, told Fortune recently, “which is to convince everybody to destroy demand for gasoline. “But busts follow booms,” McNally continued. “When oil prices drop, I think demand for EVs will wane. You’re on this roller coaster of oil prices.”

By Irina Slav for Oilprice.com

TotalEnergies Eyes $100M+ Stake Sales in European Solar and Wind Portfolio

By Michael Kern - May 22, 2026

TotalEnergies is considering selling 50% of some of its solar and wind assets in Europe as part of its strategy to partner with other companies in operating and monetizing its clean energy portfolio, Bloomberg reported on Friday, quoting anonymous sources with knowledge of the plans.

The France-based oil and gas supermajor, which has been developing a global renewable energy portfolio for years, is now working with advisers to potentially market 50% in a combined 1.2 gigawatts (GW) of solar and wind power assets in France, Germany, Spain, and Poland, according to Bloomberg’s sources.

A deal could be worth several hundred million U.S. dollars for TotalEnergies, the sources noted.

Unlike other European majors such as BP and Shell, which have outright reduced spending on renewables, TotalEnergies has a strategy to reach a 12% profitability target for its Integrated Power business.

This means that TotalEnergies would typically divest up to 50% of its renewable assets once they reach commercial operation date (COD) and are de-risked, which allows it “to maximize asset value and manage risks.”

In one of its biggest recent stake sales, TotalEnergies last year agreed to sell 50% of its solar projects portfolio in North America to global investment firm KKR for about $1 billion, as part of the French supermajor’s renewables strategy to divest half of its already operational assets.

TotalEnergies has also moved to sign power purchase deals to provide clean energy to major data center developers and hyperscalers.

In November, the French major signed a 15-year Power Purchase Agreement (PPA) to supply Google data centers in Ohio with renewable electricity from a local TotalEnergies solar farm.

Earlier in November, TotalEnergies signed a power purchase agreement with Data4 to supply renewable electricity to the data center developer’s sites in Spain for 10 years, as the French supermajor looks to boost its integrated power business with the key driver of global electricity demand—data centers and AI infrastructure.

By Michael Kern for Oilprice.com 

Wind and solar overtake coal in Turkey’s power generation for first time - EMBER

Turkey has been investing heavily into renewables, which now make up 23% of its energy mix, overtaking coal for the first time which now accounts for 21%. / bne IntelliNews

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By bne IntelliNews May 21, 2026

Wind and solar energy generated more electricity than coal in Turkey for the first time in April 2026, marking a milestone in the country’s energy transition as strong rainfall also boosted hydroelectric output, according to energy think-tank Ember.

Ember said wind and solar accounted for 22.8% of electricity generation in April, surpassing coal’s 21% share. Total renewable energy generation climbed to 71%, the highest level recorded in the past 26 years, helped by above-seasonal rainfall that lifted hydroelectric production.

Solar power also crossed another symbolic threshold during the month, overtaking imported coal generation for the first time. Solar accounted for 13.1% of electricity production, while imported coal fell to 8.6%, its lowest monthly level in nine years.

Hydroelectric generation rose 60% compared with the same period last year, Ember said. Water inflows to Turkey’s main river basin dams during the first four months of 2026 reached their highest level in eight years.

“April 2026 marked a significant turning point in Turkey’s energy transition,” said Çağlar Çeliköz, energy analyst at Ember. “This development was driven both by the momentum achieved in wind and solar energy over the past five years through increases in installed capacity and by the rise in hydroelectric generation due to rainfall above seasonal norms,” he said.

Turkey has accelerated renewable energy investment in recent years as it seeks to reduce dependence on imported fossil fuels, which have historically weighed on the country’s current account balance. The government aims to expand renewable capacity significantly under its long-term energy strategy, with solar installations in particular growing rapidly as equipment costs decline.

Çeliköz cautioned, however, that hydroelectric production remains vulnerable to changing climate conditions and rainfall patterns.

“However, the variable nature of hydroelectric production, which depends on climate conditions and precipitation regimes, creates uncertainty regarding future generation levels from this source,” he said.

“Therefore, in order for this historic achievement to become permanent in the face of changing climate conditions, Turkey needs to increase the momentum it has achieved in wind and solar energy and ensure resource diversity in renewable electricity generation.”

China's Solar Exports Soar as World Grapples with Energy Crisis

By Tsvetana Paraskova - May 21, 2026

Despite the end of China's export tax refunds on April 1, exports of Chinese solar cells and panels continued to surge in April as demand for solar installations in Africa, Southeast Asia, and Europe soars amid the oil and gas crisis.

Exports to Southeast Asia and Africa eased off the records in March, which benefited from the export refund policy. But they were up by 75-85% compared to April 2025, according to official Chinese customs data carried by Reuters.

Despite the expectations of higher prices of the products without the tax refund, overseas shipments continued their strong momentum in April.

China's exports of solar cells and panels to Africa surged by 83% in April from a year earlier, with South African purchases up by over 81%, and the Democratic Republic of Congo also emerging as a key buyer, according to the customs data.

Exports to Southeast Asia jumped by 75% year over year in April, with the Philippines more than doubling the volume of its solar equipment imports from China.

China's solar exports hit a record-high of 68 gigawatts (GW) in March, double the February export volumes, due to the spike in energy prices and an additional boost from changes to Chinese tax rebates, data analyzed by Ember showed last month.

The value of the solar PV technology exports soared to $4.8 billion in March, more than doubled compared to $2.2 billion in solar export value in February.

Overall, Chinese exports of clean technology, including solar panels, electric vehicles, and batteries, surged to a record-high in March as the war in the Middle East resulted in a major oil and gas supply shock that drove consumers and governments to lean more on renewable energy and EVs.

The export value of all of China's clean tech exports surged to $25.77 billion in March, data by energy think tank Ember showed. This was 30% higher than the value of the February exports, and more than 50% higher than the Chinese sales of clean tech overseas in March 2025.

By Tsvetana Paraskova for Oilprice.com

 

 

U.S. Energy Storage Installations Post Record First Quarter

By Tsvetana Paraskova - May 21, 2026

Despite unfavorable federal policies, the U.S. energy storage additions jumped by 31% from a year earlier to 9.7 gigawatt-hours (GWh) in the first quarter of 2026, the strongest first quarter in history, a new report showed on Thursday.   

With energy storage gaining momentum, U.S. developers are set to install more than 610 GWh of energy storage by 2030, according to the report by the Solar Energy Industries Association (SEIA) and Benchmark Mineral Intelligence.

The estimates through 2030 were revised up from earlier forecasts as investors, developers, and grid operators respond to the current energy price volatility tied to disrupted global gas and gas turbine supplies.

Solar and storage are becoming increasingly attractive because they are insulated from fuel price swings and increasingly made in America, SEIA and Benchmark Mineral Intelligence said in the report.

Texas, Arizona, and California led utility-scale battery storage capacity additions in the first quarter, maintaining their positions as the three largest energy storage markets in America. Notably, 71% of all utility-scale energy storage capacity installed in Q1 was built in states won by President Donald Trump, the report said.

A total of 13 states now have explicit energy storage targets, helping drive continued investment and deployment. States like Georgia, Iowa, and Mississippi also posted notable gains in installed storage capacity during the quarter.

Despite the surge in energy storage installations, federal permitting bottlenecks could slow the industry, SEIA warned.

An SEIA analysis has shown that 467 solar and storage projects have permits pending and are vulnerable to politically motivated delays or cancellations.

“Energy storage is no longer just for backup, it’s critical energy security infrastructure,” said Shan Tomouk, BESS and Energy Lead at Benchmark Minerals.

“A supportive policy landscape for BESS will be crucial to enabling the rollout of AI and data centers, while mitigating adverse cost impacts to regular consumers.”  

By Tsvetana Paraskova for Oilprice.com

 

Shell Returns to Dutch Supreme Court in Landmark Climate Case

By Irina Slav - May 22, 2026

Supermajor Shell is facing the Netherlands’ Supreme Court in an emissions lawsuit that a few years ago led to a ruling forcing the company to slash emissions from operations by 45% by 2030, which was later overturned at a higher court.

Back in 2021, the District Court in The Hague ordered Shell to reduce its carbon dioxide emissions by 45% by 2030 in a landmark ruling on a suit brought in front of the court by environmentalist group Milieudefensie, other NGOs, and a group of private individuals.

At the time, commentators said that the ruling had the potential to set precedents for other oil companies. These emission reductions were to include the so-called Scope 3 emissions, those generated by the use of Shell’s products, per the order of the district court in 2021. Shell appealed the ruling, and in 2024, the appeals court overturned the district court’s ruling.

Shell welcomed the appeals court judgment, with CEO Wael Sawan saying, “We are pleased with the court’s decision, which we believe is the right one for the global energy transition, the Netherlands, and our company.” Shell had argued that a court ruling would do little to reduce overall customer demand for petroleum products or for natural gas to heat and power homes and businesses. The company has also argued it was not up to courts to impose limits on companies’ operations—a prerogative of the legislative system.

Milieudefensie then took matters to the Supreme Court. “Judges have already confirmed that Shell is responsible for reducing emissions and to make its own contribution to the Paris Climate Agreement,” the lawyer representing Milieudefensie (Friends of the Earth), said last year. “There is enough of a legal basis to make the ruling more specific and stronger,” he added at the time.

Shell will maintain its position, too, although earlier reports said the Supreme Court will not look into the arguments and will not be reviewing the facts and evidence that the lower courts considered, but would rather focus on whether procedure was followed accurately and whether the lower courts had the right motivation for their rulings.

By Irina Slav for Oilprice.com