Sempra Unit Signs 20-Year LNG Deal With Petrobras for Port Arthur Phase 2

B.Grimm Power, or BGRIM, has announced a plan to serve massive electricity demand from future industries including data centres, artificial intelligence, electronics and the EV ecosystem. Noppadol Karansut, Chief Executive Officer for business in Thailand, Malaysia and industrial business solutions, told Thunhoon that the draft national power development plan, or PDP, estimates data centre electricity demand at 8,800 megawatts over the next 25 years, higher than Malaysia and Singapore, which each have roughly 2,000 to 4,000 megawatts of installed capacity and projects under development. Combined with its existing industrial customer base of 2,300 megawatts, the company sees an opportunity to develop 10,000 to 30,000 megawatts of power from gas and clean energy. The government is also allowing direct power sales to the private sector, or Direct PPA, and the company has secured high-voltage substation and transmission line sites covering 11 industrial estates to support the government's 2,000 megawatt Direct PPA pilot project. On the data centre business, the company has formed a joint venture with a Singaporean firm to develop a 96 megawatt Hyperscaler AI Data Center worth 26 billion baht in Chonburi province. Phase 1, at 48 megawatts, is scheduled for commercial operation, or COD, this November, while Phase 2, also 48 megawatts, is set for COD the following year. The company aims to reach 300 megawatts of total data centre capacity by 2030. As for rising gas prices, the company has completed negotiations with industrial customers on a new Gas Linking electricity pricing structure covering 400 megawatts out of a total of 800 megawatts, with another 400 megawatts still under negotiation. At the same time, the company is structuring its finances to keep its Net IBD/E ratio below 2.0 times, with a target of reducing it to 1.3 to 1.5 times.

Chevron chairman and chief executive Mike Wirth said publicly that he does not see how oil prices come down quickly, warning that the mechanisms that absorbed the earlier oil supply shock have largely been used up and that risks remain to the upside over the next few months. Speaking at a University of Texas at Austin energy conference on September 11, Wirth said strategic reserve releases, commercial inventory drawdowns and eased restrictions on sanctioned crude stored at sea had all played out, and the loss of flexibility became more acute after attacks knocked out a major Saudi crude pipeline bypassing the Strait of Hormuz, putting an estimated 2.5 million barrels of oil per day in limbo. The average U.S. diesel price crossed $6 per gallon for the first time on September 10 and had hit a record $6.23 a gallon by the time Wirth spoke, while gasoline was back up to about $4.32 a gallon after slipping below $4 during the summer. Brent crude for November 2026 delivery traded near $105 a barrel around the conference and West Texas Intermediate was just above $100, up about 50% from roughly $70 before the Iran war started in late February, with China's return to the international market adding demand pressure. President Trump said on September 9 that oil prices would come down right after the election, tying the timeline to the November midterms, while Interior Secretary Doug Burgum has called the latest supply disruption temporary and pointed to expanded Venezuelan output and U.S. refining capacity as near-term offsets.