Electricity Needs for AI, Data Centers May Turn LNG Glut into Gap by 2030
Growing electricity demand from AI and data centres, together with rising fuel use in Asia and European gas needs could turn an expected global liquefied natural gas supply glut into a shortage by 2030, Qatar Energy CEO Saad al-Kaabi said on Monday.LNG coming online between 2026 and 2029 has raised concerns of a supply glut that could depress prices, with projects like Golden Pass LNG on the U.S. Gulf Coast and Qatar's North…
Three companies compete for Indian gas company GAIL's tender of US LNG project
Sandeep Kumar Gupta, Chairman of GAIL India, said that three companies were competing to acquire up to 26% in a "liquefied gas project" in the United States. GAIL published a tender last year to purchase up to 26% of an LNG project in America, in conjunction with a 15-year deal for gas imports. India's largest distributor of gas invited companies to submit initial bids as it looks to purchase equity in a?existing LNG project or a brand new project, which would be completed by 2030.
India's demand for LNG is set to increase across industries, if prices are cooperative
Executives from the country's largest importers have said that India's appetite is likely to increase in the next few years, due to the demand for liquefied gas across fertiliser, city-gas, refining, and power sectors. They added that a lower price would be necessary to increase consumption. India is currently the fourth largest buyer of LNG in the world. It aims to increase the gas share to 15% of its energy mix by 2030, up from the current 6.2%.
Japan will provide $1.3 billion of investment subsidies to clean-energy users
A government official announced late on Monday that Japan will provide 210 billion Japanese yen (1,34 billion dollars) to companies using clean energy to fund their investments. The goal is to increase demand for renewable energies and stimulate?growth throughout the region. The subsidies will help to reduce the country's reliance on fossil fuels and reach its clean energy goals. Juntaro Shimizu, Director of the Green Transformation Policy Group (GX) at the Ministry of Economy…
Orsted and ESB won 900 MW of offshore wind tenders in Ireland
Orsted announced on Wednesday that Ireland had awarded the rights to build a 900 Megawatt (MW), offshore wind farm, to a joint-venture between Denmark's Orsted utility and Irish utility ESB. The Tonn Nua project was awarded with a 20-year contract-for-difference (CfD) secured at a strike price of 98.72 euros ($114.32) per megawatt hour. Developers are guaranteed a fixed electricity price. Any savings or costs resulting from wholesale price fluctuations will be passed on to consumers.
Energy Transition' Future: Fractured, Bumpy and Long
As COP30 kicks off its second week in Brazil, much has changed since the landmark Paris climate agreement was penned 10 years ago.The spirit of cooperation that once reigned has been shattered by economic rivalries and a stark divergence in climate policies among the world’s biggest polluters.The landmark UN COP21 climate agreement signed in Paris on December 12, 2015 saw 195 nations commit to setting binding targets to reduce…
How much will the price of ROI-LNG drop by 2026? Russell
The market for liquefied gas is bracing itself for an increase in supply, mostly from the top exporter, the United States. However, it is not clear how low the spot price will need to fall to clear these additional volumes. According to commodity analysts Kpler, the global supply of super-chilled gasoline is forecast to reach 475 million metric tonnes in 2026. This represents a 10.2% increase over the 431 millions tons predicted for 2025.
Maguire: Clean energy push in Australia reaches pivotal milestone for energy transition
Last month, Australian utilities produced more electricity using clean energy sources than fossil fuels. This was a first for one of the top coal and natural gas exporters in the world. Data from the energy think tank Ember show that in October, utility-supplied electricity from clean sources reached 9.88 terawatts hours (TWh), which was higher than the 9.82 TWh produced by fossil fuels. The breakthrough in the energy mix is…
Sponsored: UAE Breaks Ground on GW-Scale Renewable Energy Hybrid
In line with the vision of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, world-first project reaffirms UAE’s leadership position in clean energy, directly addressing intermittency of renewables. Project will reimagine potential of renewable energy, delivering 1GW of baseload power at a globally competitive tariff, establishing a blueprint for future international deployments.Masdar and…
IRENA's chief executive expects sustainable biofuels as a key theme at COP30
Francesco La Camera said that the COP30 climate summit this year will focus on the social aspects of energy transition and the use of sustainable biofuels, according to the Director-General for the International Renewable Energy Agency, IRENA. COP30 is scheduled to take place in Belem (Brazil) from November 10-21. This will be the time for countries to update their national climate commitments, and evaluate progress towards renewable energy targets that were agreed upon at previous summits.
McKinsey: Fossil Fuels will dominate the global energy usage beyond 2050
According to a McKinsey study, oil, coal and gas will dominate the global energy mix long after 2050. This is because the demand for electricity continues to grow faster than the transition to renewables. The continued use of fossil fuels is a major obstacle to reaching global climate targets. The report states that the main reason for the increase in electricity demand is a 20-40% projected rise from the building and industry sectors by 2050. North American data centres are seen as the major contributors.
EDP accelerates solar and battery projects in Australia following government awards
The Portuguese utility EDP said that it expects to speed up its solar and storage battery projects in Australia, after receiving government awards for revenue generation over the long term. EDP Renewables Australia, a subsidiary of EDP, was awarded two generation revenue schemes through the government's Capacity Investment Scheme. These projects will add over 1.7 gigawatts to the energy mix in Australia by adding solar and battery storage.
Republic of Congo will soon pass a new gas code as it tries to attract investment
The oil minister of the Republic of Congo said that the new gas code is expected to be passed by the parliament this month. This will help the country attract more investments in the sector, which is at the core of its national agenda for development. The code establishes a legal framework to guide gas exploration, production, and development for the Central African nation, which hopes to double its oil production by 2020 to 500,000 barrels equivalent to oil.
India's Vedanta will keep coal as its base energy source despite clean energy push
Vedanta, an Indian mining and metals company, will continue to use coal as the primary source of energy for its mining operations. However, it aims to increase its share of renewable energy sources in its energy blend, according to a senior executive on Tuesday. Deshnee Niaidoo said that coal accounts for almost 70% of Vedanta’s energy mix in an interview at the FT Live Energy Transition Summit India. Naidoo stated that coal will be the main contributor to Vedanta's baseload.
New Zealand lifts the ban on oil and Gas Exploration imposed by Ardern
The New Zealand parliament passed legislation on Thursday to reopen New Zealand for offshore oil exploration. This lifted a ban placed by the former prime minister Jacinda Ardern. The law allows companies to apply for permits as early as September, even if they are not located in Taranaki. This energy-rich region of the North Island is a rich source of petroleum. Environmental groups have said that the decision to restart the exploration is a setback to the country's move to renewable energy.
Vedanta's top executive: coal will remain the base energy source for India's Vedanta
Vedanta, an Indian mining and metals company, will continue to use coal as the primary source of energy for its mining operations. However, it aims to increase its share of renewable energy sources in its energy blend. Deshnee Niaidoo said that coal accounts for almost 70% of Vedanta’s energy mix in an interview at the FT Live Energy Transition Summit India. Naidoo stated that coal will be the main contributor to Vedanta's baseload.
Ember: Solar power tops EU energy mix for the first time in June
Data from the energy think tank Ember on Thursday showed that solar power became the largest source of electricity in the European Union for the first ever, surpassing wind and nuclear. Coal's contribution also fell to a record low. Solar power generated 22,1% of EU electricity in the last month. This is up from 18,9%% one year ago, thanks to record sunshine and ongoing solar installations that boosted output to 45,4 terawatt-hours (TWh). Nuclear was next at 21.8%, and wind made up 15.8%.
Adani will build India's largest privately-funded coal power plant within a decade
The group of Indian billionaire Gautam Adani will build and run a $3 billion coal fired power plant with a capacity of 2.4 gigawatts in Bihar, the company announced on Thursday. This is the largest coal plant built in India by private investment in over a decade. Adani Power announced that the first of the three units will be completed within four years and the last unit in five. After more than a decade, private investors are now returning to India's coal-based greenfield power projects.
India offers large incentives for carbon capture as coal remains a major part of the energy mix
India is planning to launch a national initiative to capture carbon dioxide with significant government incentives as it tries to balance its rising energy demands with climate goals, while still relying heavily on coal. Rajnath Ram said that the initiative, which aims to promote carbon capture, utilisation, and storage (CCUS), could provide funding support ranging between 50% and 100% for selected projects. The CCUS technology captures CO2 at the point of emissions and stores it underground.
South Korea's Lee appoints Koo Yun Cheol as finance minister and makes other choices
His office announced on Sunday that South Korea's President Lee Jae Myung had appointed a former Vice Finance Minister, Koo Yun Cheol, as his new Finance Minister. Kang Hoon Sik, Lee's chief-of-staff, said that Koo was a well-known policy expert who has held various positions in the government. He is also an author of books about South Korea's growth and innovation, including a recent book on artificial intelligence. Kim Jung-kwan was named as the industry minister among other positions.