{"id":42443,"title":"Artificial Intelligence and Energy: Russia Explores AI Data Centres Amidst Waning Gas Sales","publisher":"Stockmark.IT","author":"Stockmark.IT Website","published":"2025-06-24T16:58:16+00:00","modified":"2025-06-24T16:58:16+00:00","canonical_url":"https://stockmark.it/artificial-intelligence-and-energy-russia-explores-ai-data-centres-amidst-waning-gas-sales/","markdown_url":"https://stockmark.it/artificial-intelligence-and-energy-russia-explores-ai-data-centres-amidst-waning-gas-sales.md","json_url":"https://stockmark.it/artificial-intelligence-and-energy-russia-explores-ai-data-centres-amidst-waning-gas-sales.json","category":"AI","categories":["AI","Oil and Gas","oil markets"],"featured_image":"https://i0.wp.com/stockmark.it/wp-content/uploads/2022/11/oil-sm.jpg?fit=480%2C270&quality=89&ssl=1","format":"news","language":"en-GB","content":"The artificial intelligence sector’s rapid expansion and the declining gas sales in Russia are contributing to the formation of a supply glut. The Russian government is now considering investing in AI data centres as a potential solution.\n\nSurprisingly swift ceasefire agreements between Israel and Iran led to a dramatic drop in oil prices, even though the peace remains tenuous. In the US, electricity demand is predicted to reach unprecedented levels, reminiscent of the summer of 2013. Regional operator PJM warns of consumption potentially hitting 158 GW, alongside temperatures nearing 100°F.\n\nOver the weekend, power demand in the US averaged 36.5 BCf/d, before rocketing to 47.5 BCf/d on June 24-25. This surge has significantly slowed US natural gas storage injections. Despite these developments, US Henry Hub gas futures showed little reaction, operating within a relatively tight $3.5-4.0 per mmBtu range throughout June.\n\nMeanwhile, US LNG developer Glenfarne has signed a non-binding agreement with Thailand’s national oil company PTT. The agreement centres on ‘strategic participation’ in Alaska’s 20 mtpa LNG project, with preliminary plans to supply 2 mtpa LNG for 20 years.\n\nIn Europe, Italy’s oil major ENI is planning to spin off its Italian refining business. This move forms part of its ‘satellite’ strategy designed to attract more investment. BP, the UK energy giant, has put its blue hydrogen project on hold after the Department of Energy only disbursed $22 million from a $1 billion hydrogen grant.\n\nIndia’s crude imports reached an all-time high in May, with Russia accounting for almost 40% of total imports. In contrast, Saudi Arabian inflows continue to decline. European oil companies operating in Iraq have started evacuating staff from the country’s oil fields, although they claim these measures will not impact production.\n\nLooking ahead, the future of the energy sector remains unpredictable. From the return of ‘King Coal’ to the potential boom in US LNG capacity under Trump, the energy landscape is set for significant changes. As the industry continues to grapple with these transformations, one thing is clear – these developments will have far-reaching implications for the global energy market."}