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World's Largest Cruise Ship to Make Maiden Voyage From Florida

World's Largest Cruise Ship to Make Maiden Voyage From Florida

Newsweek18-07-2025
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content.
The largest cruise ship in the world is set to make its maiden voyage in August.
Royal Caribbean welcomed its newest Icon-class vessel, the Star of the Seas, ahead of its inaugural journey from Port Canaveral, Florida, on August 31.
Newsweek reached out to Royal Caribbean via email for comment.
The Context
The Star of the Seas will become the sister ship to the Icon of the Seas, which launched in January last year. They are the same size, at 248,633 gross tonnage, and will share the mantle of the largest cruise ship in the world. Construction on the Star of the Seas began in 2023 and was finished on September 25, 2024.
A rendering of the Star of the Seas, which begins its maiden voyage in August this year.
A rendering of the Star of the Seas, which begins its maiden voyage in August this year.
Royal Caribbean
What To Know
The 5,610-passenger ship, constructed over nearly two years at the Meyer Turku shipyard in Finland, completed sea trials involving more than 2,000 maritime experts.
The ship will commence weeklong eastern and western Caribbean sailings, including stops at Royal Caribbean's private Bahamas resort, Perfect Day at CocoCay.
For testing, the ship underwent rigorous 11-day sea trials in Finland, reaching speeds of up to 25 knots while engineers measured propulsion, pressure, and maneuverability.
A rendering of the Star of the Seas, which begins its maiden voyage in August this year.
A rendering of the Star of the Seas, which begins its maiden voyage in August this year.
Royal Caribbean
As part of its environmental strategy, Star of the Seas uses LNG fuel, widely regarded as a cleaner maritime alternative. It incorporates systems that recover waste heat and enable shore power connections, reducing emissions while docked.
The maiden voyage will depart from Port Canaveral on August 31, 2025, for a seven-night cruise around the western Caribbean. Fares for this sailing start at about $1,731 per person, according to The Independent. In advance, shorter showcase journeys include a three-night round-trip to Perfect Day at CocoCay, beginning August 20, with tickets from about $1,069 per person, the outlet reported.
What People Are Saying
Jason Liberty, president and CEO, Royal Caribbean Group, said in a July 2025 statement: "The delivery of Star of the Seas marks another bold step forward in Royal Caribbean Group's journey to reimagine the future of vacations.
"Star and the Icon class are a symbol of what's possible when innovation, imagination and our relentless focus on delivering exceptional experiences come together, ultimately creating unforgettable memories for millions of families and vacationers.
"We're proud to bring this next-generation vacation experience to life with our valued partners at Meyer Turku."
Michael Bayley, president and CEO, Royal Caribbean International, said in July 2025: "We're incredibly proud to welcome Star of the Seas to the Royal Caribbean family as we continue to revolutionize how families and adventurers vacation.
"It's a true team effort with so many talented individuals coming together to make the new Icon class vacation a reality, and we're excited to debut this incredible achievement with a star-studded celebration this August."
What Happens Next
Following final preparations in Cadiz, Spain, Star of the Seas is scheduled to begin regular seven-night cruises from Port Canaveral in August 2025, with additional short showcase cruises planned. Royal Caribbean aims to debut its next Icon-class ship, Legend of the Seas, in 2026.
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Cheniere Energy: Key player for US Energy Dominance
Cheniere Energy: Key player for US Energy Dominance

Yahoo

time4 hours ago

  • Yahoo

Cheniere Energy: Key player for US Energy Dominance

Headquartered in Houston, Texas, and founded in 1996, Cheniere Energy Inc (NYSE:LNG) is the largest LNG producer in the U.S. and second largest globally. It operates two major liquefaction-export complexes (Sabine Pass LNG Terminal, Louisiana, and Corpus Christi LNG Terminal, Texas). Together, these two complexes give Cheniere an operational LNG capacity of 45 MTPA. There is an additional 10 million tonnes per annum, MTPA, capacity under construction. Warning! GuruFocus has detected 6 Warning Sign with LNG. The company has evolved significantly in the last fifteen years: Before 2010, Cheniere focused on importing LNG imports using regassification assets (before the advent of shale-derived energy). However, it soon pivoted towards liquefaction and export of gas, with the first export from Sabine Pass in 2016. Since 2020, Cheniere has been a major long-term supplier of LNG to Europe and Asia, becoming an increasingly important component of international energy security, particularly in the context of broader geopolitical turmoil. In 2023, the Corpus Christi complex began construction, and around 77% of this was completed by the end of 2024. Bechtel is the company's most critical construction partner, having played a contracted role in the building of both Sabine Pass and Corpus Christi complexes. Cheniere's principal revenue stream is derived from long-term infrastructure contracts, although a small proportion is based on spot market merchant marketing of LNG commodities. The liquefaction services find customers in utilities companies, traders, and sovereign buyers, which reserve export capacity through sales and purchase agreements, SPAs. The fixed liquefaction fee (c. $2.84/ million British thermal units, MMBtu) is paid irrespective of LNG delivery, with the variable fee (cited as 115% of Henry Hub reference price) covers fuel and shipping costs. Cheniere acquires gas from upstream suppliers such as Tourmaline, before liquefying and selling it under long-term SPAs or on the spot market. This spot market revenue generation causes full exposure to price spreads between U.S. and international gas markets but can create upside through arbitrage. Finally, Cheniere has begun to charter LNG vessels to ensure interoperability and insurance across the LNG industry. It subleases these to create revenue (c. $322 million in 2024). The company has a different ownership structure and organisation compared to many other companies. Cheniere Energy Inc. owns all underlying LNG assets through wholly owned subsidiaries, whilst Cheniere Energy Partners, which Cheniere Energy Inc. owns at a Master Limited (100% general partner interest, 48.6% limited partner interest, and 100% of the distribution rights). The other LP percentage points are owned by investment companies such as Blackstone, but these do not withdraw operational and accounting control from Cheniere. Beyond the Sabine Pass and Corpus Christi LNG complexes, Cheniere owns other assets, namely Cheniere Marketing (the spot market subsidiary of Cheniere, trading and managing cargoes for the spot market), the Cheniere Creole Trail Pipeline (94 miles of feed gas pipeline to Sabine Pass), and Cheniere Corpus Christi Pipeline (21 miles of feed gas pipeline to Corpus Christi). Source: 25Q1 10-Q Source: 25Q1 Investor Presentation The core business of Cheniere Energy is through LNG liquefaction. This is done through long-term SPAs (sales and purchase agreements), and account for around 90% of the company's revenue. By long-term Cheniere runs 10-20 year contracts that will be paid whether the cargo is lifted or not. The fee is structured with a fixed liquefaction aspect (typically between $2.00 - $3.50/MMBtu), and a variable fee which is set at 115% of Henry Hub (the gas nucleus for east America and a reference price used for spot pricing). This fee covers fuel and shipping costs. The high contracted volume means a steady, predictable revenue and limits the company to volatile spot prices. Moreover, it can assist with project finance acquisition, reduces earnings risk. The company has increased its average price per MMBtu over time, and this increases revenue and EBITDA per unit, thus improving Cheniere's profitability through time. Cheniere's buyers are large international utilities companies, oil majors, and national energy companies (e.g. Shell, Equinor), and these are required to produce letters of credit to assist with forensic credit assessments to ensure low default risk, improving the reliability of the counterparties. Importantly, there is low risk for revenue disruption since take-or-pay contracts obligate customers to pay the fixed fee regardless of LNG collection. Since the Henry Hub price has no effect on Cheniere's EBITDA (used solely for feed gas, fuel, and shipping), volatility of this commodity does not impact EBITDA for long-term contracted volumes (though spot market revenue - 10% of total - is still exposed to this). In the context of spot and short-term sales via Cheniere Marketing, up to 10% of revenue can be generated this way, though this is highly variable and cyclical. Essentially, the company sells off uncontracted LNG cargoes, generated through excess production, flexible volumes, and commissioning volumes. Such revenue comprises the LNG sale price minus the Henry Hub price, shipping costs, and liquefaction cost. Therefore, revenue here is sensitive to global LNG spreads, freight rates, and cargo destination arbitrage, thus causing high EBITDA variability and sensitivity to global spread markets. Finally, the company generates a small proportion of revenue (2% to 4%) through LNG vessel sublease revenue. Here, Cheniere charters specific ships and subleases these to third parties for a profit. The drivers of such revenue include spot and contract LNG shipping rates, the management capabilities of the fleet, and the requirement of flexible destinations and timings. Although not a contributor to core earnings, this revenue can be more substantial during periods of tight global vessel availability. The global LNG trade landscape has been increasingly shaped by policy-driven volatility, including climate regulation, export permit regimes, and in the US, broadly different presidential views towards the energy transition. As a result, Cheniere has had to insulate itself from external fluctuations in the global economic and political environment. Cheniere supports an LNG demand that is spread over more than 40 countries, including major markets in Asia and Europe, thus making the company more resilient to national policy shifts. A large part of this insulatory effect (one I believe will become even more important in the coming years and months) is the free on board contract structure. Cheniere delivers LNG to a terminal, but takes no responsibility for shipping, customs, and risks associated with the destination geography; the company is significantly distanced from sanctions, freight cost volatility, and trade barriers. The company has received record high LNG imports to Europe: Source: 25Q1 Investor Presentation Accompanying this is a geographical representation of Cheniere's global export proportions: Source: 25Q1 Investor Presentation In the first quarter of 2025, revenue came in at $5,444 million, compared to a Q1 of 2024, which was $4,253 million. Similarly, there was an increase in the consolidated adjusted EBITDA from $1,773 million to $1,872 million. This increase reflects the increased export of LNG from 602 TBtu to 609 TBtu from Q124 to Q125. The company has repurchased 1.6 million shares for around $350 million. Cheniere has also funded $325 million of complex Corpus Christi complex Stage 3 growth. The company, which is in significant debt (around $22.8 billion), repaid $300 million. Many of these actions fell under the company's 20/20 Vision' Capital Allocation plan: ? $4.9 billion debt reduction ? $4.5 billion shares repurchased ? $4.820/shares declared ? $4.4 billion total growth Capex funded These targets are ambitious, though progress is being made towards all of them, suggesting they may be achievable. Debt is spread across Cheniere Energy, Cheniere Energy Partners, and Cheniere Corpus Christi Holdings. The company also holds around $2.9 billion in cash, of which roughly $0.4 billion is restricted. This leaves a net debt position of approximately $19.9 billion. At the Cheniere Energy level, the company carries senior unsecured notes maturing in 2028 and 2034, carrying interest rates of 4.625% and 5.65%, respectively. It also maintains a revolving credit facility maturing in 2026. At the Cheniere Energy Partners level, which governs Sabine Pass, Cheniere has long-dated unsecured notes maturing in 2029 and 2031 and a separate revolver maturing in 2028. Meanwhile, at CCH, which funds and operates the Corpus Christi complex, the company has structured debt including 2039 notes, a $3.3 billion term loan linked to the completion of Stage 3, and a $1.5 billion working capital facility due in 2027. Based on the 10-Q for 2025 Q1, Cheniere can deliver around 2,464 TBtu/year (616 x 4). With an annualised EBITDA of $5.2 billion, the margin per MMBtu will be $2.11 ($5,200,000,000/2,464,000,000 MMBtu). This represents only a high-level estimation of Cheniere's operating profitability per exported unit of LNG. Most importantly, I believe, is the recent upgrade by Fitch Ratings of Cheniere from BBB to BBB- which will have positive implications for the company, unlocking lower costs of borrowing, as well as increasing its access to potential debt investors. Under the current configuration of six trains at Sabine Pass and the first three at Corpus Christi, Cheniere expects to generate between $5.3 and $5.7 billion in adjusted EBITDA on an annualised basis. Starting with risks: the assets and infrastructure which Cheniere owns are concentrated in the U.S. Gulf. This means the company is highly susceptible to regional weather events and infrastructure bottlenecks/damages. As climate change increases the frequency and intensity of extreme weather events (particularly hurricanes), Cheniere may face a greater likelihood of infrastructure damage as a result of its Gulf Coast base of operations. Similarly, regional pipeline or gas infrastructure congestion can have a simultaneous negative impact on both the Sabine Pass and Corpus Christi. This lack of geographical diversification creates a substantial risk for the company. A further risk which Cheniere faces is the reliance on US-based natural gas (i.e. Henry Hub), thus exposing the company to dislocation between these prices and global LNG benchmarks. Cheniere's sales and purchase agreements are primarily linked to 115% of Henry Hub, such that disproportionate spikes can decrease the economic feasibility of spot market deals. Other companies use indexed trading prices, making them less vulnerable to US-specific gas markets. The aging of regassification assets which still generate revenue may be another risk, since it is functionally redundant and has low utility. The unclear plans for its future may hinder Cheniere's adaptability to new scenarios. This is amplified by its lack of synergy with LNG exports - the core business model of the company. Maintaining a rapidly depreciating asset, and increasingly high potential for early termination due to low utilisation could be a significant hit for Cheniere. Interestingly, however, its low importance relative to the core model may minimise this risk, though it is recommended that this is taken into consideration, since other LNG producers don't typically carry this type of legacy regas asset on the balance sheet. Connected to this may be the age of integral assets to the company. Sabine Pass began exports in 2016, and is thus entering the middle of its useful lifetime. Expansion or updates to this site offer risks in terms of ease of integration, as well as potential complications with FERC re-approval for such actions. Other companies (for example NextDecade and QatarEnergy's expansion plans) are constructing infrastructure on greenfield sites, typically less susceptible to such risks. This could lead to eventual loss of market leadership to more dynamic companies (a pattern that has been seen across industries). Another risk arises from potential misalignment of interest between Cheniere Energy Partners (NYSE:CQP) and Cheniere Energy (NYSE:LNG) in the decisions made regarding Sabine Pass. CQP is a publicly traded master limited partnership, and this form of ownership structure is unlike most other international LNG players, which own their assets directly or through 100%-owned subsidiaries. For Cheniere, this can complicate cash flows but more importantly, this could affect the expansion or dividend policy, something potentially compounded by the aging, brownfield nature of the Sabine Pass site. A final risk comes from further LNG infrastructure in the Americas, such as Shell's LNG Canada in British Columbia serving Asia, and St. Lawrence River LNG projects in Quebec serving Europe. That's in addition to Argentina LNG, a joint venture between YPF and Eni. Now to opportunities: a first opportunity is the novel agreement between Cheniere and JERA, an energy major of Japan. This is a first of its kind agreement, since Cheniere has previously been absent from Japan's energy market. JERA plans to contract around 1 MTPA across the Sabine Pass and Corpus Christi complex from around 2030 under a 20-year agreement. This will expand Cheniere's access into the Asia-Pacific markets, where there is growing demand for LNG, whilst also boosting the company's revenue resilience through the large SPA. A second opportunity for Cheniere is the recent final investment decision for two more trains at the Corpus Christi complexes. It is predicted that these will expand the capacity of the site by a further 5 MTPA and raise the forecasted platform capacity to 60-63 MTPA by mid to late 2030s. This is through both direct and indirect support, since 20% of the increased capacity is stated to arise from debottlenecking effects, whilst 3 MTPA will come from the trains themselves. These trains will generate incremental EBITDA through contribution to long-term fixed fee revenue. The project supports a structured use of $25 billion of capital through 2030, which will cover the expansion alongside debt repayment, dividends, and share purchases. Personally, I believe this suggests discipline from management since repayment is balanced against the expansion itself. A risk with this expansion, however, is the capital risk and timeline slippage that occurs with a necessarily large investment such as this. The company forecasts EBITDA of $6.7 to $7.3 billion and distributable cash flow of $3.9 to $4.3 billion annually. A third opportunity of growing revenue for Cheniere will likely come from a new 15-year gas supply deal with Canadian Natural Resources (CNQ) for 0.85 MTPA. This agreement has a direct correlation to favourable Henry Hub - JKM spreads. The agreement essentially has secured gas supply from a creditworthy source outside of the US, diversifying from typical energy sources (HH). This will increase supply optionality, improving insurance effects particularly in a world with an unstable U.S. economy. This also will broaden the LNG marketing aspect of the company's revenue stream by tying volumes to JKM prices, potentially facilitating price leverage, important where JKM often outpaces HH. The respected hedge funds D.E. Shaw & Co and Two Sigma Investments are owners of Cheniere Energy, as per the most recent 13F filings. Famed value investor Dimensional Fund Advisors is also a shareholder, owning just under 1% of the Cheniere Energy. Venture Global (VG) is Cheniere Energy's closest peer in that it is also a US LNG exporter owning liquefaction facilities. Cheniere Energy trades on a trailing P/E of 17, while Venture Global trades on a trailing P/E of 33. VG's higher P/E is likely due to its aggressive growth plans at its Plaquemines project with commercial operation date of Phase I expected to be 2026 and commercial operation date of Phase II in 2027. In terms of next 12 months EV/EBITDA, according to LSEG estimates, Cheniere Energy and Venture Global trade on similar multiples of just under 11x. As a point of reference, other large cap stocks in the Oil and Gas Storage and Transportation sector, such as Williams (WMB), ONEOK (OKE), and Kinder Morgan (KMI) trade in a 10-12x range for next 12 months EV/EBITDA, according to LSEG estimates, though these three companies are more exposed pipeline services. It is worth noting however, that Venture Global has various customer arbitrations are ongoing with initial rulings anticipated in the second half of this year. There is the potential that Venture Global could pay significant damages if found in breach of contract. In my opinion, given Cheniere Energy's longer track record and I believe greater inherent stability and lower risk, it should trade at a slight EV/EBITDA premium to Venture Global. With the LNG demand pull from the rest of the world, there's no reason Cheniere could not trade at the 12x multiple that Williams enjoys. NextDecade Corp (NEXT) is another pure play US LNG exporter, however it is still in the construction stage, so doesn't have any revenue or earnings to compare. As of 30 June 2025, Cheniere Energy is the seventh largest energy company by float adjusted market capitalization in the MSCI USA index, a rules driven index many institutional investors use as a benchmark. Cheniere Energy is ahead of S&P 500 constituents Marathan Petroleum (MPC), Oneok (OKE), and Phillips 66 (PSX) in the MSCI USA. However, for an unknown reason, the S&P 500 index committee has still not included Cheniere in the most famous index, which is widely tracked by exchange traded funds. Perhaps, once Hess Corp (HES) gets delisted if it does get acquired by Chevron (CVX), then the S&P committee will replace Hess with Cheniere, which will create a lot of buying in Cheniere Energy's stock. Although Cheniere Energy is a little exposed to the spreads between natural gas prices in the United States and Europe and Asia, its robust long term contracts and solid history of good operating performance mean that the company is a very robust energy infrastructure play in the era of America's energy dominance. Export growth will lead to revenue growth and earnings growth. With the demise of the Russian natural gas giant Gazprom's supply contracts to Europe, Cheniere Energy is stepping in to help fill to that massive void and become a world class supplier to global energy markets. This article first appeared on GuruFocus. Sign in to access your portfolio

Woman Thrifts Pendant for $1—Then Discovers Its Value
Woman Thrifts Pendant for $1—Then Discovers Its Value

Newsweek

time11 hours ago

  • Newsweek

Woman Thrifts Pendant for $1—Then Discovers Its Value

Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. A woman was shocked to discover the true value of a pendant she purchased from a California thrift store for $1. Sarah Blackstone came across the piece "a few years ago" at Cedar Glen Thrift and Collectibles in Lake Arrowhead and it immediately caught her eye. "I always treasure hunt through jewelry at thrift stores, just in case," Blackstone told Newsweek. "When I asked to see this piece from under the counter and I felt the weight of it immediately, that's what caught me." Blackstone is one of the many millions searching for bargains among America's huge network of thrift stores. As of 2024, there were over 25,000 resale, consignment, and not-for-profit resale shops in the U.S., according to data compiled by CapitalOne Shopping. Part of the appeal of thrifting is the opportunity it offers to unearth hidden gems. In the past, customers have uncovered everything from long-lost family heirlooms to vintage clothes with hidden secrets. Blackstone's pendant was no different in that respect. However, it would be some time yet before its true value would be revealed. In fact, for the longest time, she wasn't aware it held much value at all. "When I got home, I placed it on a fine silver chain, and wore it occasionally," Blackstone said. "I thought it was gold and treated it gently, but did not realize how much and how pure." Sarah Blackstone found the pendant gathering dust at a California thrift store. Sarah Blackstone found the pendant gathering dust at a California thrift store. u/SSDDNoBounceNoPlay It was only years later, while selling off other unwanted pieces of jewelry, that Blackstone discovered the piece's true worth. "A melt shop I was selling broken jewelry to recently offered me money for it on the spot," Blackstone said. "I realized it was worth valuing properly." The amount offered there, on the spot, caught her off-guard: $240. "I was surprised to hear the number as high as $240 from low melt value," Blackstone said. "So I decided to post it, to see what the experts think. I was curious about the origin, and what it would retail for as well." Blackstone posted a picture of the piece to Reddit under the handle u/SSDDNoBounceNoPlay in the hopes of finding out more. "I wanted to share this in the Jewelry Identification Subreddit community, because there are so many willing experts there that come up with amazing answers to seemingly impossible questions," Blackstone said. "The power of collaboration is endless, and I don't know that many jewelry nerds." The online experts did not disappoint. Within hours of posting the picture, they had deduced that the piece was made by an Alaskan native jeweler called Ralph Gorichanaz. This renewed interest in the piece prompted Blackstone to go through with her plans to get it appraised. The results did not disappoint, with an expert determining the pendant was made of 6.3 grams of 14k gold. Sarah Blackstone was shocked to discover how much the pendant could be worth. Sarah Blackstone was shocked to discover how much the pendant could be worth. u/SSDDNoBounceNoPlay When Blackstone shared this news to her Reddit post, one fellow user was able to deduce that the piece had a worth of "approximately $371.71, based on a current market price of $58.99 per gram on a gold valuation site." However, they noted that this calculation was based on the assumption that the gold was "being sold as scrap or for its melt value." The piece is likely to be worth considerably more. Quite how much, however, has yet to be determined. Blackstone has contacted Gorichanaz for more information. Regardless of the outcome, she's delighted to have made such an unexpected discovery after so long. "This is definitely my best thrift find ever," Blackstone said. "I find a lot of good stuff, but this was entirely unexpected."

Gigantic Wooden City Being Built in Europe Will Be 2.7M Sq Ft in Size
Gigantic Wooden City Being Built in Europe Will Be 2.7M Sq Ft in Size

Newsweek

time12 hours ago

  • Newsweek

Gigantic Wooden City Being Built in Europe Will Be 2.7M Sq Ft in Size

Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. A European city is setting new standards in sustainable urban development with the construction of the world's largest wooden city, covering 2.7 million square feet, in Stockholm, Sweden. The Stockholm Wood City project will use mass timber to create thousands of homes and offices, integrating environmental innovation into every aspect of city life. Newsweek contacted developer Atrium Ljungberg for more information on the story via email. Why it Matters The construction and real estate sector is responsible for nearly 37 percent of global carbon emissions, according to industry estimates. The Stockholm Wood City project aims to demonstrate how mass timber construction can dramatically reduce environmental impact while delivering comfortable, modern living and working environments. What To Know The Stockholm Wood City, spearheaded by developer Atrium Ljungberg, is being erected in Sickla, a former industrial area south of Stockholm's center. The development will combine residential, commercial, and public spaces spanning 250,000 square meters, or approximately 2.7 million square feet. The initiative, with an investment of around $1.25 billion, features 7,000 office spaces, 2,000 homes, schools, and retail outlets, all built primarily with cross-laminated timber. A rendering of the Stockholm Wood City, which will be built from Timber in Sweden. A rendering of the Stockholm Wood City, which will be built from Timber in Sweden. Atrium Ljungberg Construction is set to begin in 2025, with the first phase, including "Kvarter 7"—an 80-apartment residential block—targeted for completion by late 2025. More residences and an office block are planned by 2027. Engineered wood, specifically mass timber, is expected to cut emissions compared to standard construction materials. According to a USDA Forest Service study published in 2024, timber buildings generate "at least 81 percent lower global warming potential than concrete and 76% lower than steel" builds. Glulam components are used extensively throughout the site, from the structural frames to floor slabs and staircases. What People Are Saying Atrium Ljungberg's CEO, Annica Ånäs, told Axios in a 2023 interview: "I am convinced that we will see more such projects across the world. "I just think people need to see examples of it. Now when they do, I am sure they will be inspired". In a statement on their website, Atrium Ljunberg said: "Stockholm Wood City marks a new era for sustainable architecture and urban development. Aside from timber construction, the project entails a number of additional environmental benefits. "The focus on office space is a means of addressing the shortage of workplaces south of Stockholm's inner city, thus shortening commuting times for more people. The project's climate impact is also minimised through internally produced, stored and shared energy. Focus is on internally produced, stored and shared energy. This is achieved in part through extensive rooftop solar arrays with batteries, together with underground borehole energy storage for heating and cooling." What Happens Next The Stockholm Wood City project is on track to begin construction in 2025, fueled by Sweden's forestry resources and its tradition of timber building. Upon completion, it is expected to serve as a large-scale demonstration of low-carbon urban development.

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