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Japan recorded a current account surplus for the seventh consecutive month in August, driven mainly by lower prices of energy imports such as crude oil and natural gas. Preliminary data from the Ministry of Finance showed a surplus of 3.77 trillion yen (about $25 billion). The current account, a key indicator of a nation's trade and investment flows with the rest of the world, remained in positive territory but fell 4.8% from a year earlier, according to Japan's public broadcaster NHK World. The decline was largely attributed to a drop in the primary income surplus, reflecting lower dividends from overseas subsidiaries of Japanese financial and automotive companies compared with last year.

The biggest oil producer in the United Arab Emirates agreed to supply liquefied natural gas to Indian Oil Corp for 15 years as it lines up more binding contracts for a new export terminal.Abu Dhabi National Oil Co will provide 1mn tonnes of LNG annually to the Indian state-run entity, primarily from the under-construction project at Ruwais, according to a statement Wednesday.Adnoc, which had signed a preliminary agreement in September, also has a deal to supply an additional 1.2mn tonnes a year of the fuel from its Das Island operations to Indian Oil.The two deals will make the Indian company Adnoc’s biggest LNG customer by 2029, said the UAE firm, which is locking in long-term customers for its export capacity following agreements with buyers from Germany to Malaysia. For India, the deals will help its plan to ramp up the share of gas in the country’s energy mix by the end of this decade, even though infrastructure bottlenecks are constraining the expansion.The Ruwais project is expected to start commercial operations in 2028, which will more than double the company’s LNG capacity to 15 million tons a year, Adnoc said.The company has committed over 8mn tonnes a year of the project’s 9.6mn-tonnes-a-year capacity to international customers through long-term agreements.Adnoc Gas Plc said last year that it expects to acquire its parent Adnoc’s 60% stake in the Ruwais project at cost in the second half of 2028.

Qatar accounts for a significant share of GCC’s proven natural gas reserves, with 24.7tn cubic metres (tcm), making it the largest holder in the region and a global leader in liquefied natural gas (LNG) exports, according to a new report.The GCC collectively holds more than 40tcm of proven natural gas reserves, representing about 20% of the world’s total, Arthur D Little (ADL) said in a research note.Annual production volumes underscore the region’s strategic role: Qatar produces 211bn cubic metres (bcm), Saudi Arabia 124bcm, the UAE 56bcm, and Oman 54bcm, while Kuwait and Bahrain each produce 20bcm or less and rely heavily on imports to meet demand, the report noted.Historically, gas allocation decisions in the region have followed a straightforward logic: meet domestic power needs, support key industries, and fulfil export commitments.However, ADL’s research warns that without a more systematic approach, significant value could be left untapped. The Resource Utilisation Index (RUI) addresses this challenge by integrating five interlinked strategic dimensions into a single comparative score.It first considers EBITDA impact, measuring the true profitability generated per unit of gas and adjusting for opportunity cost to provide an accurate picture of financial value. It then evaluates GDP contribution, capturing the direct, indirect, and induced effects of gas use on national output, including multiplier effects across supply chains.Employment generation is assessed not only in terms of the number of jobs created, but also the quality of those jobs, their alignment with national workforce strategies, and their role in skills development.The economic complexity dimension examines how gas allocation supports diversification and industrial upgrading, favouring pathways that enable the production of more sophisticated, high-value exports. Finally, the framework factors in global market synergies, identifying sectors where gas utilisation can leverage trade partnerships, export readiness, and existing infrastructure to expand the region’s economic footprint.Energy-intensive industries illustrate the importance of this approach. In aluminium smelting, for example, energy can account for up to 40% of production costs, and overall energy usage can represent around 50% of total aluminium production costs.While access to affordable gas strengthens cost competitiveness, the RUI helps decision-makers weigh this against the potential value of redirecting the same gas to higher-return uses such as LNG exports or advanced petrochemicals.“The RUI is not about prescribing a single path for gas allocation. It’s about equipping decision-makers with the tools to make choices that align with national goals, economic diversification, and long-term resilience,” said Peter Kaznacheev, Principal at ADL Middle East. “By measuring profitability, economic impact, and strategic alignment in a single framework, we offer a holistic view of where gas delivers the greatest value.”The index can be tailored to national priorities by adjusting weightings across its five dimensions, and recalibrated as market conditions evolve or new industries emerge. Its applications range from helping governments set long-term planning objectives to enabling corporate planners and joint ventures to balance domestic requirements with export opportunities.Recent global trade turbulence – alongside regional industrial expansion – has reinforced the need for evidence-based allocation strategies.“With major producers like Qatar, Saudi Arabia, the UAE, and Oman facing rising internal demand, and import-reliant states such as Kuwait and Bahrain under increasing supply pressure, the framework offers a unified lens for strategic gas deployment,” the research noted.“In a time of shifting global alignments and economic recalibration, the RUI empowers GCC nations to view gas not just as an energy source, but as a strategic lever for sustainable growth,” added Ilya Epikhin, Principal at ADL Middle East.By quantifying the economic, social, and strategic value of each cubic meter of natural gas, ADL’s RUI equips GCC leaders with the means to make allocation decisions that reinforce diversification, competitiveness, and resilience in a rapidly evolving energy landscape.