Energy Evolution

After nearly four months, global commodity markets have shown both vulnerability and resilience amid the unprecedented disruptions caused by the Iran war. The European gas market is no exception. In this episode of Energy Evolution, host Eklavya Gupte examines the paradoxes shaping Europe's gas outlook.
Gas prices in Europe have surged since the conflict erupted, yet remain far below the panic-driven highs of 2022 following Russia's invasion of Ukraine. Beneath the surface, however, a new set of risks is emerging: gas storage is filling at its slowest pace in years, and the market's reliance on LNG has left it increasingly exposed to fresh supply shocks.
Matt Hoisch, senior gas and LNG reporter at Platts, part of S&P Global Energy, speaks with Jack Sharples, senior research fellow on the gas research program at the Oxford Institute for Energy Studies, about why prices haven't reached 2022 crisis levels, what current storage figures mean for winter volatility, and how the gas market's growing interconnectedness is amplifying uncertainty.

It's hard to overstate how fast the battery energy storage industry is growing, and the impact that's having on the power sector. In 2025, US utilities and independent developers added 17.75 gigawatts of large-scale battery storage capacity, up 52% from 2024. Multiple forecasts suggest another 100 GW or more of large-scale battery capacity will come online in the US through 2030.  
To the extent utilities and power producers can meet the electricity demand projected to surge in coming years, batteries are going to be critical to the solution, supporting data centers, electric vehicles, domestic factories and other sources of increased load. 
In this episode, Dan Testa digs into these trends with Noah Roberts, executive director of the Energy Storage Coalition, and Mateo Jaramillo, CEO of Form Energy, a company building and deploying long-duration batteries using innovative iron air technology.

The growth of data centers, and the amount of electricity expected to be required to meet that demand, is probably the biggest issue in the US power sector. 
US grid power supplied to hyperscale, leased and crypto-mining data centers reached about 64.4 gigawatts in 2025, nearly tripling since 2020. And that growth is accelerating.
In this episode, host Dan Testa speaks with Brandon Oyer, head of energy and water for the Americas at Amazon Web Services. Oyer breaks down what he describes as misperceptions regarding the water and power impacts of data centers, the ways in which many people rely on data centers without realizing it and how AWS works with utilities to develop new projects.

In this episode, host Eklavya Gupte sits down with Marijn van Diessen, CEO of STX Group, one of the world's leading environmental commodity traders.
The conversation explores Europe's strategic pivot toward domestic energy sources, the explosive growth potential of biomethane as a gas substitute, and the surge in demand for renewable certificates driven by AI data centers — alongside the challenge of creating liquid markets for products that exist only as digital attestations.
Van Diessen explains both the parallels and distinctions between environmental and traditional energy trading. Like oil and gas, environmental commodities require logistics, storage and physical infrastructure. But unlike fossil fuels, they're far more sensitive to regulatory shifts — where a single policy change can trigger volatility as dramatic as any geopolitical shock.

In this episode, host Eklavya Gupte explores how the war in the Middle East has exposed Asia's deep reliance on fossil fuels while also accelerating the region's energy transition.
Ruchira Singh, energy transition editor at Platts, part of S&P Global Energy, speaks with Nobuo Tanaka, chair of the steering committee at the Innovation for Cool Earth Forum and former executive director of the International Energy Agency, about the emerging dynamics between petrostates and electrostates, and where Asia stands on the threshold of its energy future.
Echoing the 1970s oil shocks that gave rise to the LNG market, Tanaka believes this crisis will spark another tectonic shift, elevating renewables to the mainstream and fast-track Asia's electrification.
From faster electric vehicle adoption to expanding low-carbon hydrogen trade and strengthened regional collaboration, Asia is poised to respond with a decisive shift toward cleaner, more resilient energy systems, he says.