At Cititec, we talk for a living. That means we’re the first to hear about what’s going on in the commodities world. Whether it’s through news sources or, as Marvin Gaye would say, ‘through the grapevine,’ here are the latest updates and knowledge we’ve gathered for you.

News 📰

🇬🇧 Centrica and Energy Capital Partners buy UK LNG terminal British Gas owner Centrica and Energy Capital Partners have agreed to acquire National Grid’s Isle of Grain LNG terminal for around $2 billion, strengthening the UK’s role in global gas supply (Reuters).

🇸🇦 Aramco inks $11B Jafurah deal Saudi Aramco signed an $11 billion agreement with a BlackRock-led consortium to develop midstream infrastructure for the giant Jafurah gas field, part of its push to expand domestic gas output (Reuters).

🇯🇵 Mitsubishi quits offshore wind projects Mitsubishi pulled out of two Japanese offshore wind farms, citing rising costs, a major setback for Japan’s energy security and goals to reduce reliance on imported fuel (Reuters).

🇺🇸 US wind project cancellations spark job debate Several large U.S. offshore wind projects have been scrapped, fuelling political clashes over lost jobs and the energy transition (CNN).

🌍 Trafigura secures long-term LNG deal with KOGAS Trafigura signed a multi-year supply agreement with South Korea’s KOGAS, further cementing the trader’s LNG portfolio in Asia (Trafigura).

Deals 🤝

🇺🇸 Lyten rescues Northvolt assets U.S. battery startup Lyten has agreed to acquire the core assets of bankrupt Swedish gigafactory operator Northvolt (FT).

🔥 Aira raises €150M for heat pumps Aira, founded by the man behind Northvolt, secured €150 million to accelerate its European heat-pump rollout (Aira).

⚡ Hubber secures £60M for EV charging London-based Hubber, founded by former Tesla Supercharger employees, raised £60 million to expand ultra-rapid EV charging hubs across UK cities (Electrive).

📊 Quantile Energy raises 7-figure pre-seed London-based Quantile Energy has closed a seven-figure GBP pre-seed round led by Picus Capital. The company is building a next-generation systematic short-term power trading desk, focused on data, technology, and performance (Quantile Energy)

⛏ Hades Mining raises €5.5M Munich-based Hades Mining secured €5.5 million in pre-seed funding to develop deep-drilling technology that unlocks Europe’s geothermal and critical mineral reserves (EU-Startups)

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