Monday, March 31, 2025

Energy Sources News

The prize is worth billions of dollars, but winning it is the key: Russell

Decarbonising steel is one of the biggest challenges to meeting climate goals. However, it could be extremely profitable for those companies and governments willing to take on the risk. Steel value chain is responsible for 7 to 9% global carbon emissions. It is the biggest industrial contributor, and…

Bosch plans to generate billions of dollars in revenue from hydrogen by starting production of electrolyser components

Bosch announced on Wednesday that it will start producing electrolyser parts for hydrogen production and expects its hydrogen business revenue to reach billions of Euros by 2030. Germany is looking to increase its reliance on hydrogen for future energy sources to reduce greenhouse gas emissions from highly polluting industries that can't be electrified…

Vingroup Vietnam plans LNG and renewable energy ventures

Vingroup, Vietnam's largest conglomerate, announced on Tuesday that it is looking to develop renewable energy sources and liquefied gas power plants. This would be the company's first ventures in the energy sector. The state-run newspaper VietnamNet reported, citing documents the company had submitted to the Government…

Indonesia Minister says other countries will not follow U.S. withdrawal from JETP Energy Transition Funding

A senior Indonesian Minister said that the United States' decision not to continue with the Just Energy Transition Partnership (a commitment of developed countries to fund energy transition) will have no impact on the commitments made by the other partners. JETP, a global financing initiative that brings…

Finland's Fortum explores options for long-term nuclear power

Fortum, a Finnish utility, said Monday that it would focus on renewable energy sources and nuclear life extension to meet the growing demand for electricity. It will also continue to explore long-term options such as new nuclear generation or pumped hydro. He added that the Nordics will meet this new…

Russell: Renewables and gas are gaining ground on coal and oil

The latest review of the International Energy Agency shows that renewables and gas are the most popular energy sources. In its Global Energy Review published on Monday, the IEA described this growth rate as "faster-than-average". Electricity, the fastest growing sector, grew 4.3% by 2024 or almost twice the average annual growth rate of the last decade.

Polish Cabinet approves liberalisation in wind farm regulations

Polish authorities approved on Friday a draft law that eases the rules for building onshore wind farms. This is a major step towards delivering on a promise made at 2023's election to increase power production using renewable energy sources. The new rules must be approved by the parliament. They reduce the distance between planned installations…

German energy transition could cost 300 billion euros less with greater efficiency, according to a study

According to a report released by the Boston Consulting Group on Thursday, Germany could save over 300 billion euros (326.49 billion dollars) by 2035 if it implements the energy transition in a more efficient manner. Germany will spend hundreds of millions of euros in the next few years to transition towards cleaner energy sources…

Polish Minister sees the energy price cap expiring this year

According to Polish Climate Minister Paulina Hnnig-Kloska, the government should be able to lift the cap on energy prices in the final quarter of this year due the falling wholesale prices. Since 2022, Poland has capped power bills to protect vulnerable consumers from the rising costs of energy. It also pays compensation to utilities to offset these costs.

CERAWEEK - Small nuclear power struggles on the cusp of US electric demand boom

Small modular nuclear reactors are touted by everyone from the U.S. Energy Secretary to Big Tech as the answer to the booming demand for power. However, the technology has struggled to reach commercialization due to cost and regulatory obstacles. The artificial intelligence industry, which is powered by energy-hungry data centres…

Aramco CEO: More likely Elvis will speak than energy transition plans to succeed

Saudi Aramco's CEO said Monday that policymakers and energy executives should rethink their energy transition plans. They must stop investing in elements of the energy transition which have failed and instead rethink the entire energy transition. The remarks from the head the world's biggest oil company…

Hungary turns to Romania for help in diversifying its energy sources

Hungary wants to expand its gas sector cooperation with Romania to diversify energy sources. Their respective companies are already in negotiations for an agreement. Szijjarto stated that Hungary is keen to work with Romania in energy matters as Romania will soon become a net gas exporter as a result of a new offshore field starting production.

UK replaces windfall oil tax with consultation on clean energy future

Britain announced that it will end the windfall taxes on North Sea oil producers by 2030, and replace them with a new mechanism for responding to price increases. It is pushing ahead with its plan to turn the North Sea into an energy hub. On Wednesday, the government held two consultations. One was on how to transform the North Sea into a clean-energy area…

Exports of Israeli natural gas to Egypt and Jordan will increase by 13.4% in 2024

Israel's Energy Ministry said that despite Israel's conflict with the Palestinian militant group Hamas, natural gas exports from Israel to Egypt and Jordan increased by 13.4% between 2024 and 2025. Eli Cohen, Minister of Energy, said that the jump "demonstrates Israel's natural-gas industry as a strategic asset contributing to regional security and stability".

GE Vernova signs deal to support Amazon's data center expansion

The renewable energy company GE Vernova announced on Tuesday that it had signed an agreement with Amazon’s cloud services to support its data center expansion plans. GE Vernova stated that the agreement with Amazon Web Services would help address global energy demand and improve grid security, reliability, and carbon emissions.

Irish Government approves floating LNG emergency facility

On Tuesday, the Irish government announced that it had approved the development of an emergency temporary facility for importing liquefied gas (LNG) and storing it. Ireland is one out of five EU members without domestic storage. The government says this is a problem in the event that one or both subsea interconnectors are damaged.

South Korea and the US form a working group to discuss Alaska LNG project tariffs

Ahn Duk Geun, South Korea’s Minister of Industry, announced on Tuesday that the United States and South Korea have agreed to form a group at a working level to discuss issues such as a pipeline project for gas in Alaska, energy and shipbuilding, tariffs, and non-tariff obstacles. Ahn, a reporter in Sejong…

Shell's LNG enthusiasm for Asia is a conundrum of volume vs. price: Russell

Shell's long-term outlook is contradictory, which shouldn't be surprising. Shell's annual LNG outlook was released last week. It predicted that the demand for LNG would increase by 60% by 2040. This is largely due to the strong economic growth of Asia, artificial intelligence, and the need to reduce emissions in heavy industry and transportation.

Romanian government extends the energy price cap

Marcel Ciolacu, Romania's Prime Minister, announced on Thursday that the coalition government would extend the price cap for electricity to households and businesses up until June, and for gas, for one year. This is in order to protect consumers from recent increases in energy prices. Since November 2021…

Shell's LNG enthusiasm for Asia is hampered by a conundrum of volume and price: Russell

Shell's long-term outlook is contradictory, which shouldn't be surprising. Shell's annual LNG outlook was released last week. It predicted that the demand for LNG would increase by 60% by 2040. This is largely due to the strong economic growth of Asia, artificial intelligence, and the need to reduce emissions in heavy industry and transportation.

Marine Technology ENews subscription

World Energy News is the global authority on the international energy industry, delivered to your Email two times per week.

Subscribe to World Energy News Alerts.