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On September 10 Energy Minister Tim Hodgson and Ukraine's Denys Shmyhal signed a joint energy statement in Calgary. Canada added $10 million to the Energy Support Fund, up to $757 million of EBRD gas-purchase guarantees, and restated the Energoatom-Cameco uranium deal through 2035.
On August 12 North American Construction said combined second-quarter revenue was a record $456.1 million. Adjusted EBITDA was $93.5 million. Combined 2026 revenue guidance moved to $1.6 billion to $1.8 billion. EBITDA guidance did not. Canada heavy-equipment revenue fell 17 percent to $121.8 million. Australia rose 65 percent after the April 7 IMC buy.
On August 12 Northland said Baltic Power, 1.1 gigawatts in Poland, delivered first offshore-wind power to the national grid. 61 of 76 turbines were installed and 15 were generating. Commercial operations are still aimed at the second half of 2026. Second-quarter adjusted EBITDA was $259 million. The quarter printed a $54 million net loss.
On July 29 Vermilion said first gas from Wisselshorst in Germany started in July at restricted rates. Second-quarter volumes were 125,789 boe/d. Realized gas was $5.08 per Mcf against a TTF month-ahead of $22.68 per MMBtu. Year guidance is now 121,000 to 123,000 boe/d.
EU storage was about 61 percent full in mid-August, below the five-year minimum for the date. Brussels cut the fill target from 90 percent to 80 percent. TTF is near $21. Available cargoes look tighter than 2022.
This article examines the escalating tensions between Iran and Israel and their potential effects on global energy supply routes and market stability. It analyzes the geopolitical risks and how they might influence energy commodity prices.
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