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Real-time News
On September 14th, according to foreign media reports, Samsung Electronics and SK Hynix rejected a prepayment proposal from the Korea Electric Power Corporation (KEPCO) to fund the construction of a power grid supplying electricity to new technology clusters. Cash-strapped utilities across Asia are struggling to keep up with the growing demand from the semiconductor and artificial intelligence industries. KEPCOs proposal—estimated by local media to total 25 trillion won, equivalent to five years worth of electricity bills—was intended to circumvent this supply-demand mismatch. A KEPCO spokesperson stated via text message, "The two companies ultimately rejected KEPCOs proposal." Local media reports indicate that the two chipmakers are concerned about the uncertainty surrounding the sustainability of the current semiconductor boom over the next five years.On September 14th, Futures News reported that a crucial meeting between Gulf states and Iran regarding the control of the Strait of Hormuz was postponed due to a failure to reach a consensus. This setback hindered regional efforts to ease tensions along this vital waterway and continues to severely test navigation in the Strait of Hormuz. Previously, the foreign ministers of the six Gulf Cooperation Council (GCC) countries planned to meet with Iranian Foreign Minister Araghchi in Salalah, Oman on September 14th, with Oman acting as mediator. The goal was to secure support for a temporary arrangement to manage merchant shipping in the Strait of Hormuz. Iranian Foreign Ministry spokesman Baghae stated that the meeting was an important step in promoting mutual trust and cooperation among regional countries and maintaining regional peace and stability. He emphasized that relevant matters should be negotiated independently by regional countries, rejecting destructive and divisive interference from external forces. He hoped the meeting would create conditions for deepening understanding among regional countries and contribute to regional security. Iran is committed to ensuring the safety of navigation in the Strait of Hormuz, but as long as the US continues its maritime blockade and economic war against Iran, the safety of navigation in the strait cannot be guaranteed. Iran and Oman had previously reached an understanding on a temporary navigation route in the Strait of Hormuz.US President Trump: The United States is working to supplement and expand weapons production to strengthen U.S. defense manufacturing capabilities.On September 14th, Balaji Krishnamurthy, President of Chevron Australia, stated that liquefied natural gas (LNG) prices, which have surged since the outbreak of the Iraq War, are unlikely to decline in the short term. He said on Monday that he "doesnt see prices falling" in the next six months or so, noting that "Australian LNG currently enjoys a premium" due to Australias geographical proximity to Asia. The US oil giant operates the Gorgon and Wheatstone projects in Australia and has benefited from the price surge caused by the disruption of Qatari exports. Qatar previously accounted for about one-fifth of global LNG production. However, this has also led to some demand disruption in the short term, and there is a risk of declining consumption in the long term as countries seek alternatives to mitigate future supply shocks. Krishnamurthy stated that the rise of artificial intelligence will be a key source of LNG demand growth, presenting opportunities for Australian data centers. He added that the war has also led customers to increasingly seek long-term supply contracts, as energy security is now a top priority. He said, "In the short term, we will continue to see some demand adjustments," but "in the long term, the fundamentals, especially for LNG, remain very strong."Chevron Australia President: LNG prices are expected to remain high over the next six months.
