Jeremy Cresswell: Strange times for humankind
As humankind drives relentlessly towards climate catastrophe, just a few days ago the International Energy Agency offered a crumb of comfort regarding CO2 emissions.
coal
G7 offers Vietnam and Indonesia $15bn to quit coal ahead of COP27
The G7 and its partners have made multi-billion dollar offers to wean Vietnam, Indonesia and India away from coal — but it has yet to convince these emerging economies to quit the dirtiest fossil fuel, reported POLTICO.
Australia joins pledge to cut methane emissions 30% by 2030
Australia joined the Global Methane Pledge, becoming one of the last major developed economies to sign on to an effort to reduce emissions of the potent greenhouse gas 30% from 2020 levels by the end of this decade.
More Australian LNG needed for Asia’s energy transition
Citing a recent report from the International Energy Agency (IEA), the Australian Petroleum Production & Exploration Association (APPEA), notes that Australian exports of liquefied natural gas (LNG) to Asia would need to triple to support the region’s energy transition.
China won’t rush its clean energy transformation, Xi says
President Xi Jinping has promised a slow and steady end to the growth of planet-warming emissions in China, with energy security taking top priority as the country contends with a flagging economy and tumult on global fuel markets.
The Australian energy crisis highlights need for new gas supply
Australian east coast energy prices skyrocketed earlier this year as a winter cold snap sent gas, coal, and electricity to record-highs, triggering price caps at A$40/Gigajoule (US$27/Million British Thermal Units), around 400% above the normal A$8-10/GJ price range.
Unaffordable LNG prices undermine rapid demand growth forecasts in key Asia markets
Sustained high prices may accelerate downward pressures on Asian liquefied natural gas (LNG) demand, clouding long-term industry outlooks.
CCS will be key as Asia faces steep rise in coal power
Ageing coal-fired power is increasingly replaced by renewable energy generation in the US and Europe. However, transitioning away from thermal coal will be complex and slow for Asian nations, particularly India and China, which make up 70% of global coal demand and face a steep rise in power demand.
Nuclear and renewables to edge out LNG in South Korea
A potential resurgence in nuclear power combined with increasing renewable energy capacity could see less liquefied natural gas (LNG) fueled power projects built in South Korea than previously anticipated.
China to export $100bn in renewable energy technology in 2022, bright future ahead
China is continuing its rapid expansion into global new energy markets with exports of solar PV, wind turbines, and energy storage equipment, expected to be worth $100 billion this year, data from energy research firm Wood Mackenzie showed.
Coal plus renewables will shape energy transition in Asia as $2.9tn in power investment eyed
The coal plus renewables energy transition led by Asia Pacific’s largest growth markets – China and India – is gathering speed. Significantly, it is a lot cheaper than the natural gas plus renewables path followed by the EU and US to lower emissions.
Australia’s plunge into energy crisis offers stark reminder for other governments
Eastern Australia is experiencing a severe power crisis, which is largely the result of poor government planning, and serves as a reminder to other nations of the dire consequences that stem from failing to develop a pragmatic energy policy.
Japan to end financing of key coal projects under climate pledge
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.
Philippines closer to adding one of world’s top solar sites
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.
Inflated expectations? Investors unwind ESG hype cycle
It is a strange time for the oil and gas sector. On the one hand, after years of price weakness, the money is rolling in again as the war in Ukraine and post-Covid disruptions keep prices high.
First test for Australia’s new Government is an energy squeeze
Australia’s new government, elected with a promise to accelerate a shift away from fossil fuels, is holding talks with oil and gas giants to ease an energy squeeze that’s delivered a first major test.
Shell approves $2.5bn Crux gas project to backfill Prelude LNG off Australia
Shell (LON:SHEL) has taken a final investment decision (FID) to develop the Crux natural gas field offshore Western Australia.
Australia aspires to be ‘renewable energy superpower’ after decisive climate change election
Australians voted in a new government that has vowed to end decades of inaction by one of the world’s highest per capita emitters. Now the fight is about just how quickly to make up for lost time.
Ammonia co-firing in power plants could be worth $100bn in 2050, says Woodmac
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.
India turns to expensive foreign LNG to ease a power crisis
Sweltering heat and ongoing blackouts are forcing India’s liquefied natural gas (LNG) importers to top up with expensive shipments.
CCS adoption in Southeast Asia highly unlikely, reports IEEFA
Widespread adoption of carbon capture, utilisation and storage (CCUS) technologies in Southeast Asia remains highly unlikely, according to the latest findings from the Institute for Energy Economics and Financial Analysis (IEEFA).
Global energy spending will hit record over $2 trillion in 2022, says Rystad
Surging oil, gas, and power prices, together with the European Union (EU)’s goals of becoming less dependent on Russian supplies, and post-Covid-19 pandemic inflation, will catapult global energy spending this year to a record $2.1 trillion. Significantly, similar levels of spending have not been seen since 2014, Rystad Energy research shows.
Uncertainty for South Korea LNG imports as nuclear energy embraced
Following presidential elections earlier this month, energy-short South Korea looks set to pivot back towards nuclear power, leaving the outlook for liquefied natural gas (LNG) imports less certain.
‘Not so turn off and onable’
Back in the 1990s, a talking tortoise advertised power for British homes, with the famous slogan 'it's got to be easily turn off and onable.'
War complicates Russia’s role in supplying energy to China
China and Russia’s trade relationship has become more complicated since the war started more than three weeks ago, raising questions about the future flow of energy between the two powerhouses.