By Daniel Grosvenor, UK renewables leader, Deloitte
As governments and corporates set ambitious targets to decarbonise, investment in low-carbon technology is becoming increasingly attractive as a core investment strategy. “Low carbon” comprises technologies that enable the energy transition.
Singapore’s Energy Market Authority (EMA) has awarded ExxonMobil and Sembcorp Fuels the right to import liquefied natural gas (LNG) as pipeline supplies dwindle.
Abu Dhabi-based Masdar and Malaysia’s Petronas will work together to pursue renewable energy and green hydrogen projects across Asia and the Middle East.
Work carried out by Aberdeen-based global consulting and engineering company Wood will help turn the hot desert sun of Oman into renewable energy for a ferrochrome production plant.
TNB Renewables, a subsidiary of Malaysian national electricity provider Tenaga Nasional Berhad (TNB), will buy a 39% share in five solar rooftop projects from Singapore’s Sunseap Group in Vietnam.
Egypt and Israel are working on plans to expand the East Mediterranean Gas Forum (EMGF) into energy security, electricity infrastructure and emissions controls.
Majors, such as BP, Total and Shell, as well as Asian national oil companies (NOCs), are stepping up their investments in India’s rapidly expanding gas and renewables markets.
Malaysia’s Petronas is almost doubling its yearly capital investment spend on new energy initiatives this year as it eyes a slow measured diversification away from the traditional oil and gas business.
Coal-fired power generation is projected to surge in India as the expanding wave of renewable energy capacity cannot keep up with electrification growth in the South Asian country, home to the world’s second biggest population.
Australia, Japan and Vietnam are leading the shift to renewable energy in Asia Pacific, according to the latest research from IHS Markit. Significantly, coal and gas power plants are also being built at a brisk pace as part of the energy mix across the region.
Myanmar’s transition towards renewable energy sources will face near-term headwinds after the recent military coup. However, analysts are more optimistic over the medium to longer term given the dominance of Chinese companies in the sector.
This year will be busy for Australian renewable energy players with an estimated 5.3 gigawatts of utility PV, wind and battery projects expected to finish commissioning, revealed Rystad Energy.
India is set for the largest increase in energy demand of any country over the next 20 years. This underscores the potential for policies and investment to accelerate the clean energy transition, the International Energy Agency (IEA) said in a new report.
With the greatest and most urgent energy transition in human history accelerating, the quest for new technology solutions across multiple, diverse low carbon fronts is becoming ever more urgent.
Australia could offer a $26 billion renewable power generation investment opportunity this decade if the government can implement an ambitious long-term Renewable Energy Target (RET) to reverse a slowdown in wind and solar spending.
It is a fact of life that if you want to achieve net zero you need the technology that can make it happen. You can play around with what you think are smart economic wheezes such as contracts for difference and carbon tax but if you don’t have the technology to enable you to stop burning hydrocarbons then ultimately, they’re of no benefit whatsoever.
By Al Cook, executive vp for global strategy and business development and UK country manager, Equinor
In the “business-as-usual” version of 2020, global leaders should have been gathering this week in Glasgow for the most important meeting on climate since the Paris Agreement five years ago.
Once a year, the International Energy Agency attempts to impose some order on the chaotic world of oil, gas, power and carbon by publishing detailed scenarios on how the next few decades might unfold.