The offshore wind market in Asia is expected to experience massive expansion over the next five to 10 years, particularly in the more advanced economies of Taiwan, Japan and South Korea, as governments face increasing pressure to focus on climate change and hit their net-zero emissions targets.
Australia’s Santos has completed the sell-down of 25% interests in Bayu-Undan and Darwin LNG to South Korea’s SK E&S, which is also a partner in the recently sanctioned Barossa development.
Offshore wind projects final investment decisions (FIDs), outwith mainland China, are expected to grow by more than half in the next 18 months.
Sea salps -- gelantinous, marine organisms that look like jellyfish -- have clogged water systems used to cool nuclear reactors in South Korea, forcing two units offline.
The rise of China’s mega-refineries was always going to make life tougher for their competitors across Asia. But the fallout from Covid-19 is hastening the impact and accelerating consolidation across the region.
Asia remains the world’s largest and fastest expanding energy demand centre. Significantly, regional investments in the transition towards a cleaner energy system have maintained pace during the coronavirus pandemic.
South Korean conglomerate SK Group will invest 18.5 trillion won ($16.5 billion) over the next five years to develop a domestic hydrogen industry.
Adnoc and South Korea have held talks on blue hydrogen supplies during a virtual business trip.
Saudi Arabia may ship gas to South Korea where it will be used to make hydrogen, and the carbon dioxide produced in the process will be transported straight back to the kingdom.
News that South Korea aims to build the world’s largest offshore wind farm by 2030 follows moves by major exploration and production companies to establish a foothold in the nascent market.
The floating offshore wind power market in Asia Pacific could offer investment opportunities worth up to $58 billion as a significant market for the technology is emerging, latest research from Wood Mackenzie shows.
Ørsted has outlined its intention to develop offshore wind projects in Asia Pacific with a potential capacity of up to 1.6 gigawatts (GW).
A clear green hydrogen energy strategy is necessary if energy companies are to commit to investing in UK green hydrogen projects.
Mozambique’s $7 billion floating LNG (FLNG) project is on course for starting up production in 2022, Eni has said.
The UK proposes to help develop one of the world’s largest offshore wind projects in Vietnam, where the market is expected to boom.
Total and Macquarie’s Green Investment Group (GIG) will jointly develop five floating wind farms with total capacity of more than 2 gigawatts (GW) off South Korea.
Simec Atlantis Energy has entered into an agreement with a leading South Korean financial institution to fuel the transition of its flagship power station.
Pandemic-driven lockdowns have taken their toll on small companies in every sector, while larger companies can take a longer view on matters, including in the LNG sector.
South Korea has run out of commercial storage space for oil, according to people with knowledge of the matter, a development that’s likely to intensify a global scramble for tankers to store crude and fuels.
Actions taken by producer states under the OPEC+ banner, coupled with moving oil into storage, should see a stock draw of 4.7 million barrels per day in the second half of 2020, the International Energy Agency (IEA) has said in its recent Oil Market Report (OMR).
Worley has won two master service agreements (MSAs) from Total for work on the Mozambique LNG project.
The hull of the Coral Sul floating LNG (FLNG) has been launched at a ceremony in Geoje, in South Korea, on schedule.
South Korea’s LNG imports in September dropped to levels last seen in 2017.
South Korea has struck a 15-year deal with BP for LNG supplies, covering 1.58 million tonnes per year.
The Trump administration said it won’t renew waivers that let countries buy Iranian oil without facing U.S. sanctions, a move that roiled energy markets and risks upsetting major importers such as China and India.