Wood Mackenzie

Wood Mackenzie celebrates Rio Grande LNG Trains 4 & 5 Positive FID achievements! Wood Mackenzie is delighted to continue supporting NextDecade by acting as Lenders’ trusted Gas/LNG market advisor ahead of the successful positive final investment decisions (FID) on Trains 4 & 5 at Rio Grande LNG. Our comprehensive Gas & LNG market analysis and assessment of each train’s customers helped to guide Lenders (including those providing loans to fund NextDecade’s equity commitments) through the commercial due diligence process and allowed NextDecade to reach this pivotal milestone in expanding their world-class LNG export facility. Project costs for Trains 4 & 5 and related infrastructure are expected to total approximately $13.4 billion. With Train 4 & 5 expected combined LNG production capacity of approximately 12 MTPA, Rio Grande LNG now boasts a total expected production capacity of approximately 30 MTPA under construction. This positions the facility as one of the largest LNG export projects in North America, strategically located to serve global markets with reliable, competitively priced LNG. We extend our congratulations to NextDecade, their partners and advisors for their collaboration in delivering this significant project advancement. The positive FIDs on Trains 4 & 5 demonstrates NextDecade's commitment to meeting growing global LNG demand while providing the operational flexibility needed to scale their business efficiently. Discover more about our LNG transaction support services at Wood Mackenzie: https://okt.to/8DN0Vd

Is Europe on track to meet its Net Zero Industry Act goals? In our recent report by Jon Story, Vice President, Energy Consulting, Head of CCS Consulting, Lisa Gillespie, Director, Energy Consulting, and Jack Mageau, Senior Research Analyst, CCUS, we explore how the EU’s current CCS project pipeline falls significantly short of the 50 million tonnes per annum (mtpa) CO₂ injection capacity target set by the Net Zero Industry Act (NZIA) in June 2024. Facing delays, cancellations, and regulatory challenges, achieving the required injection capacity by 2030 now looks increasingly unlikely. Looking at typical project timelines and potential investment hurdles, with rising costs leading to the risk of stranded assets, the findings reveal why accelerating CCS development is proving far more complex than expected. Find out how far the EU still has to go, what’s holding projects back and what it could mean for Europe’s net zero ambitions in our full report: https://okt.to/udpUPc

2025 is a defining year for the UK’s energy landscape. As government consultations shape the future of the North Sea, one thing is clear - smarter licensing and continued domestic production must go hand in hand with climate goals. Our latest analysis shows: - UKCS production could remain within the IPCC’s 1.5°C pathway — even with up to 2.6 billion additional barrels of oil equivalent. - Each extra trillion cubic feet of UK gas could cut 15 MtCO₂e compared to imported LNG. - Domestic gas costs nearly half as much as US LNG — supporting both the economy and emissions goals. A balanced, evidence-based approach to licensing can extend the life of critical North Sea hubs, reduce reliance on imports, and support a secure, lower-carbon future. Read more and get your complimentary extract from our latest report: https://okt.to/UnScwO

A big thank you to everyone who joined our recent Singapore Power & Renewables briefing! We had an engaging discussion on data centre power demand, renewable energy costs, and clean energy procurement across Southeast Asia. Our latest projections show that power demand from data centres could more than quadruple in the next ten years, with a strong project pipeline in Singapore, Malaysia, and Thailand. Solar and storage hybrids are now becoming competitive with gas-fired power. This year, average costs for hybrid systems fell below US$80/MWh, compared with over US$100/MWh for gas. But as solar and batteries can only supply energy for part of the day, gas and grid power remain essential for data centres. With AI investments further increasing power demand, our APAC experts are closely tracking the impacts. For a deeper look at how data centres are reshaping energy markets in Asia Pacific, explore our Data Centre Intelligence page: https://okt.to/DeQmW7

We’re excited to share that Chenyuan Diao, our Principal Analyst for wind markets is presenting at the 15th Asia Offshore Wind Day on 20 October in Busan, South Korea. She will deliver a keynote speech discussing the global offshore wind's new landscape and identifying the new opportunities for developers and manufacturers. According to our Global wind power market outlook update: Q3 2025, the wind industry is on track for a record-breaking finish to 2025, with global wind capacity additions expected to reach 170 GW for the year. The sector could connect more than 70 GW in Q4 alone, marking a record quarter with gross capacity additions that exceed the total annual additions of any year before 2020. Our forecast shows a 13% quarter-on-quarter upgrade, driven by substantial onshore growth in China - with global wind capacity set to double from 2024 levels by 2032. While key markets like the US face policy-driven setbacks, the industry will achieve historic scale over the next decade. Get more detail here: https://okt.to/1yTBlp If you’re attending the event too, don’t miss out the opportunity to meet our expert onsite and hear more from her on our latest views. #asiawea2025 #15thasiaoffshorewindday

It was fantastic to be part of the decarbonisation conversation at the Japan CCUS Summit in Tokyo! Tsunehiro Sai PhD kicked things off with a great opening address on Japan's Role in Scaling CCUS, and Hetal Gandhi shared insights and led a panel on CCUS 2.0 and the future of carbon capture. Big thanks to our partners, Japan CCUS Summit 2025, and to all the delegates who made the event so engaging. The summit covered key topics like Japan’s CCUS value chain and the challenges of cross-border carbon transport. We’re looking forward to continuing these discussions and exploring what’s next for decarbonisation in the region.

When investment decisions are big, there's no room for uncertainty. In today's rapidly evolving energy landscape, having interconnected intelligence isn't just an advantage; it's essential. Financial institutions worldwide choose Wood Mackenzie's market-leading power price curves to navigate complex energy investments with confidence. Find out why: https://okt.to/cPXn7l

Copper’s crunch moment is here. Surging demand from EVs, renewables, AI and defence is colliding with a tightening supply chain and the implications reach across the global economy. Join our experts live as they unpack the findings from Horizons: High-wire act, exploring: - A 24% surge in copper demand by 2035 - An 8 Mtpa supply gap - East vs West investment strategies Can the world keep pace with copper’s critical role in electrification and digitalisation? Register now for Horizons Live and have your questions answered in real time: https://okt.to/PIsNkG

What’s shaping the global energy and resources agenda this week? Our latest newsletter dives into: 🔹 US oil growth slows - what it means for global supply 🔹 AI’s trillion-barrel potential - unlocking more from existing fields 🔹 China tightens critical mineral exports - implications for supply chains 🔹 Copper’s high-wire act - can demand keep pace with the energy transition? Read the latest analysis and subscribe for more weekly insight.

Have we been sitting on a trillion-barrel opportunity - without even knowing it? Our latest Edge analysis explores how applying artificial intelligence to field performance data could lift recovery rates by 6–12% - the equivalent of unlocking nearly one trillion barrels of additional supply. From benchmarking best practices to optimising mature fields, AI could redefine upstream efficiency. Read more below.