Qatar energy minister: I don’t ‘worry much’ about Trump’s vow to lift LNG exports cap
Qatar’s Energy Minister and CEO of QatarEnergy Saad Sherida Al Kaabi speaks at a press conference in Doha on Sept. 1, 2024.
Karim Jaafar | Afp | Getty Images
Qatar’s energy minister said he isn’t too concerned about U.S. President-elect Donald Trump’s pledge to lift the cap on liquefied natural gas exports.
“Additional gas is going to be required, whether it is from the U.S., Qatar or other places. So additional LNG and additional competition is welcome,” Saad Sherida Al Kaabi, Qatar’s energy minister and CEO of state gas company QatarEnergy, told CNBC’s Dan Murphy at the Doha Forum on Dec. 7.
“If you open up LNG and say we are going to export another 300 million tons … or 500 million tons from the U.S., all these projects are driven by private enterprises that look at the commercial viability of projects, and there is going to be a limit.”
“It will all depend on supply, demand and the long-term outlook for these companies,” he added, saying “I don’t worry much about it.”
Trump wants to “drill, baby, drill” — in other words, boost domestic oil and natural gas production. His transition team is putting together an energy package to roll out within days after he takes office that would approve export permits for new LNG projects and increase oil drilling in the country, Reuters reported.
“If you take a decision to have an LNG facility or an export facility, and decide to do it today, it takes six to 10 years to actually have it up and running and operational,” he said, stressing that it is not a “switch on, switch off” move.
The U.S. and Qatar have held onto their position as the world’s biggest LNG suppliers, with a combined market share of almost 50%. Competition between the two major exporters has intensified this year after Europe’s decision to phase out reliance on Russia’s pipeline gas and as U.S. suppliers quickly filled the supply gap.
Kaabi said the European Union needs to “thoroughly” review the Corporate Sustainability Due Diligence Directive — which requires large companies to “identify and address” negative environmental impacts, among others, in their operations.
The penalty can go up to 5% of a company’s total generated revenue, Kaabi added, stressing that it would “harm” European companies and those operating in the bloc, which will be subject to take higher costs to complete the due diligence.
The CSDDD, which will take effect in 2027, is estimated to affect around 5,500 EU-based companies and at least 1,000 non-EU companies with significant business in the region, Reuters reported in July.
The Qatar Investment Authority — which manages estimated $510 billion in assets, according to the Global SWF — and other fund managers would consider pulling investment out of EU to avoid penalties, he added.
“It is very serious for them,” Kaabi said, adding that the European economies “are not doing great, so they need foreign direct investments, and they need support.”
Aviation startup ZeroAvia says it’s been granted a “raft” of 45 new patents key to the development of practical large hydrogen aviation engines – and the company says it has 200 more H-related patents in the pipeline!
The news comes just weeks after ZeroAvia and Scottish regional airline Loganair announced a new, hydrogen-electric “turboprop” replacement motor capable of up to 5MW of shaft horsepower (~6,700 hp). United States Patent and Trademark Office (USPTO) no. 12,341,225 covers an integrated hydrogen-electric engine design land is key to the development of a modular multi-MW hydrogen-electric engine for the ATR 42 and 72 model aircraft — which Loganair owns more than twenty of.
ATR isn’t the only potential customer ZerAvia is eyeballing, either. Despite hydrogen losing ground on utility-scale projects and more companies realizing that it’s “impossible” for hydrogen to compete as a transportation fuel, the fuel still seems to have some practical application in the aviation space. Both Airbus and Boeing have advanced plans and IP for hydrogen-ready airframes in recent weeks, as well, making the IP for large hydrogen-powered aviation engines that much more valuable.
“Recent patents filed and granted around hydrogen aviation give a window into an accelerating field of innovation,” explains Val Miftakhov, Founder and CEO, ZeroAvia. “As we see the large airframe manufacturers beginning to compete on technologies for hydrogen aircraft, there is a big opportunity for companies pioneering hydrogen propulsion systems. These are the inventions that will deliver truly clean, more affordable and highly efficient commercial air travel.”
What it’s all about
Like many tech-based startups, securing IP has been an integral part of ZeroAvia’s strategy, with the value of its patents being, essentially, the value of the company. Just as – if not more important to airlines like Loganair, American, and EcoJet, however, are the potential cost-savings of hydrogen compared to conventional aviation fuels like kerosene.
Importantly, these novel engines promise cost reductions for airlines. The substantially lower maintenance needs of hydrogen-electric engines will mean a decrease in maintenance and downtime for an airline’s fleet, with hydrogen fuel also projected to be significantly more cost effective than kerosene over time.
ZEROAVIA
You can read more about the new ZA600 and ZA2000 hydrogen-electric av motors here, and let us know what you think of hydrogen’s chances against traditional, kerosense-based aviation fuels in the comments.
SOURCE | IMAGES: ZeroAvia.
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You might want to hold onto your handlebars for this one – literally. The fashion-forward British electric scooter maker Bo just unveiled what could be the most extreme electric scooter the world has ever seen. Named The Turbo, this standing e-scooter isn’t just playing around with speed – it’s aiming to smash right through it and find out what’s waiting on the other side.
And it all begs the question, “How much is too much?”
When we talk about fast electric scooters, we’re usually in the neighborhood of 50 mph (80 km/h). But the Bo Turbo doubles those numbers.
With 100 mph+ (160+ km/h) top speeds and claimed acceleration that’s faster than a Tesla, this scooter seems to use a design philosophy pulled straight from the playbook of Formula One. Thus, it should come as no surprise that the team behind The Turbo includes engineers with experience from Williams F1 and the Bloodhound Land Speed Record rocket car.
The world’s fastest e-scooter?
Built on the same base chassis as the company’s sleek road-going Bo Model-M, The Turbo takes everything up a notch – actually, several notches. It features a 24,000 W dual-motor powertrain, 1,800 Wh battery, advanced traction control, and a power-to-weight ratio that reportedly beats a Bugatti Veyron.
At full power, the system is capable of propelling riders down a straightaway at three-digit speeds while standing upright. It’s absurd. It’s glorious. It’s gratuitous. It’s a dream. Or it’s a nightmare.
Bo says the machine is already delivering 85+ mph (137+ km/h) in early track testing at Goodwood Motor Circuit and is currently in development to push beyond the 100 mph barrier under Guinness World Record supervision.
And just in case you’re wondering if this is some experimental prototype cooked up in a lab – it’s not. The company is planning a limited run of built-to-order Turbo scooters, starting at a whopping $29,500. The first one is scheduled for delivery to a collector in Madrid during the 2026 Formula One race weekend.
From F1 brake ducts to street scooter DNA
Despite the headline-grabbing speed numbers, there’s a ton of serious engineering going on here. The Turbo uses ram-air intakes based on F1 brake cooling designs to keep the motors and controllers from overheating. The chassis – made from aerospace-grade aluminum and CNC-machined billet parts – is based on Bo’s proven Monocurve platform, the same structure that underpins the Bo Model-M. In fact, that might be the most impressive part of all, that the same chassis used underneath their everyday-ride-it-to-work Bo Model-M scooter is also holding together this 100 mph beast.
Bo’s team insists that despite the monster specs, The Turbo remains “surprisingly rideable.” Professional BMX rider Tre Whyte has piloted over 20 high-speed test runs, with the team now preparing to push the envelope even further.
A wild PR stunt – or something more?
It’s tempting to see The Turbo as just a headline machine (and hey, it works), but Bo says this project is about more than just chasing speed records. According to Bo CEO Oscar Morgan, “The Turbo is part of our mission to elevate these futuristic electric vehicles into the top tier of automotive performance.”
And honestly, they’ve got a point. E-scooters have exploded in popularity as low-speed urban vehicles, but the category rarely gets taken seriously in the performance world, despite the advent of racing leagues. Bo wants to change that – and they’re using motorsport technology to do it.
Electrek’s Take
Is this a practical daily rider? Absolutely not. But that’s not the point.
Bo is doing what so few e-scooter companies are willing to do – pushing boundaries, proving performance, and trying to make scooters feel exciting, not just functional. Whether The Turbo hits 100 mph or not, it’s already helped raise the bar for what electric micromobility can be. And if that means they develop safer and stable ways to build scooters along the way, then all the better.
The fact that they actually plan to sell these is a bit worrying, though the $30k pricetag means the local teens on your street aren’t going to be terrorizing the sidewalks with them. Well, not unless you’ve got an oil sheikh and his teenagers living on your street.
But hey, if you’ve got thirty grand and a need for painful death levels of speed – maybe this is your next toy.
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Environment
Chevron defeats Exxon in dispute over Guyana oil assets, clearing path for Hess acquisition
Chevron has prevailed against Exxon Mobil in a dispute over Hess Corporation’s offshore oil assets in the South American nation of Guyana, Exxon CEO Darren Woods told CNBC’s Becky Quick on Friday.
The ruling by the International Chamber of Commerce in favor of Chevron clears the way for the oil major to complete its $53 billion acquisition of Hess Corporation.
Chevron shares jumped about 3% in premarket trading.
“We disagree with the ICC panel’s interpretation but respect the arbitration and dispute resolution process,” Exxon said in a statement Friday.
The dispute had created significant uncertainty over whether Chevron’s acquisition of Hess would close, weighing on the oil major’s stock performance. The transaction would have failed if Exxon had prevailed.
Exxon and China National Offshore Oil Corporation had filed an arbitration case with the ICC, claiming a right of first refusal over Hess’s assets in the Stabroek Block, an oil development off the coast of Guyana.
Hess has a 30% stake in an oil patch, while Exxon leads the project with a 45% stake and CNOOC maintains 25% stake.
“We welcome Chevron to the venture and look forward to continued industry-leading performance and value creation in Guyana for all parties involved,” Exxon said.
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