LNG plants on Curtis Island, Queensland
Outlook 2025: Using gas and LNG to speed up the transition
The role of gas is changing from being a provider of a large volume of energy to peaking supply backing up expanding renewables
Zero-carbon energy continues to increase its share of the energy mix. Gas is seen as a natural partner to back up variable renewable energy, such as wind and solar, because of its firm, fast response and flexible power-generation technologies. In Australia, the increase in zero-carbon energy has not resulted in an increase in gas-fired power generation (GPG) volumes. Instead, GPG volumes have fallen as more zero-carbon energy supply enters the market. This is primarily due to low—and sometimes negative—operating costs (when subsidies are accounted for) for zero-carbon energy and the low operating costs of incumbent coal-fired power generators. A clear demonstration of this trend can be seen
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5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
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The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
