Twenty20 Energy will roll out its proprietary power island floating storage regasification and power solution at 12 locations across Papua New Guinea (PNG) on behalf of PAWA PNG. The solution will serve as a model for future nearshore power generation plants in coastal regions worldwide, reckons the Singapore-based firm.
EnerMech is today announcing new contracts worth a total of more than £107 million for work in Africa, the Middle East and Caspian region.
Watch out Iraq and Saudi Arabia, Russia is making huge inroads into the Indian oil market and has quite possibly become the largest supplier to the giant Asian buyer.
Corio Generation has signed a joint development agreement with FECON, a leading Vietnamese construction and infrastructure group, for a proposed 500 MW offshore windfarm in Ba Ria, Vung Tau province, Vietnam.
Japan will withdraw financing for key coal-fired power plant projects in Bangladesh and Indonesia under efforts aimed at accelerating a global phase-out of the dirtiest fossil fuel.
Almost four months after Russia’s invasion of Ukraine, Russian crude oil, Urals, has seen a switch in flow from its traditional market of Europe to Asia. Since the start of the war, based on the average of March to May 2022, Indian imports of Urals crude have picked up by 658% compared to 2021 levels, while for China the increase is 205% and for Asia as a whole 347%, Rystad Energy research shows.
Solar Philippines has taken a further step toward massively expanding the nation’s renewables capacity, including with one of the world’s top projects, as it aims to help meet rising energy demand and aid a shift away from coal.
Indonesia’s Medco Energi (IDX:MEDC) is on the lookout for more merger and acquisition (M&A) opportunities in Southeast Asia after successfully buying ConocoPhillips Indonesian assets in a $1.355 billion deal struck last year.
BP confirmed today that it picked up over 40% stake in the Asian Renewable Energy Hub project to produce and export green hydrogen in Australia. In addition, TotalEnergies and Adani announced yesterday an investment of $5 billion into the development of hydrogen and derivatives business in India.
BP has acquired a stake in and will lead one of the world’s largest clean energy projects, which aims to supply green hydrogen from Australia to key markets including South Korea and Japan.
Shell (LON:SHEL) is upbeat about the opportunities for carbon capture and storage (CCS) in Asia Pacific, as the supermajor explores various potential storage site options across its portfolio in the region, which includes Australia, Malaysia and Brunei.
More merger and acquisition (M&A) opportunities are expected to hit the market in Asia Pacific, as international oil companies (IOCs) continue to rationalise their portfolios, and ESG concerns trigger further divestments. This will help to unlock the deal flow in APAC, but potential acquirers could struggle to secure necessary finance without a strong ESG narrative.
Liquefied natural gas (LNG) buyers in Asia are already busy securing cargoes for winter, indicating that competition in a tight market may lead to a further jump in prices.
Shell (LON:SHEL) and Japanese liquefied natural gas (LNG) buyers Tokyo Gas and Osaka Gas will together explore potential opportunities to accelerate decarbonisation across their respective production value chains.
Oil extended gains to the highest level in almost three months after Saudi Arabia signalled confidence in the demand outlook by increasing the price of its crude for Asia by more than expected.
In recent years the debate around carbon capture utilisation and storage (CCUS) has gained traction in Southeast Asia. However, the establishment of CCUS in the region is likely to be limited to gas processing and some industrial applications, reckons the Institute for Energy Economics and Financial Analysis (IEEFA).
Singapore’s Mooreast Holdings has announced plans to expand its mooring and rigging solutions products range and to enhance partnerships with international players as it eyes expansion in the global floating offshore renewable energy sector following an IPO last November.
Spot liquefied natural gas (LNG) prices in Asia remain near unprecedented highs, driven by market tightness and supply-side uncertainties made worse by the Russia-Ukraine conflict. Significantly, while the persistently high LNG prices might be a boon for producers, they may stunt long-term demand expansion in Asia.
Shell (LON:SHEL) has taken a final investment decision (FID) to develop the Crux natural gas field offshore Western Australia.
Spain’s BlueFloat Energy plans to enter Taiwan’s third offshore wind market auction with a proposed 1GW-plus floating project.
Following a shareholder vote yesterday, Australian liquefied natural gas (LNG) developer Woodside Petroleum (ASX:WPL) will change its name to Woodside Energy Group as it prepares to embrace the energy transition.
While hydrogen can be used in many sectors, its derivative, ammonia, has emerged as a key tool to provide flexible power generation and integrate variable renewables. Analysis by energy research company Wood Mackenzie shows that a 10% ammonia co-firing in global coal plants would translate to 200 million tonnes (Mt) of ammonia demand, a potential market of $100 billion by 2050.
Upstream oil and gas projects with over 1.4 billion barrels of resources and $8.5 billion worth of greenfield investments are targeted for final investment decisions (FIDs) in Southeast Asia this year, based on operators’ plans, reported Rystad Energy. However, delays are likely with more activity expected to happen next year, noted the energy consultancy.
France’s TotalEnergies (LSE:TTE) and Japan’s ENEOS are set to develop $2 billion worth of distributed generation assets across Asia following a recent deal to establish a joint venture that will sell power from solar.
Nuclear power will play a crucial role in China’s decarbonisation drive with capacity set to expand 7% every year to 2035, according to S&P Global Ratings.