Hydrogen at Risk of Being Missed Opportunity, According to DNV Report
Hydrogen has a crucial role in decarbonizing the world’s energy system, but uptake will be too slow. Governments need to make urgent, significant policy interventions, according to a new report by DNV.In Hydrogen Forecast to 2050, DNV predicts the amount of hydrogen in the energy mix will be only 0.5% in 2030 and 5% in 2050. However, to meet the targets of the Paris Agreement, hydrogen uptake would need to triple to meet 15% of energy demand by mid-century.“Hydrogen is essential to decarbonize sectors that cannot be electrified…
DNV GL Calls for Action to Meet Paris Climate Target
DNV GL’s Energy Transition Outlook indicates global temperatures rise by 2.4⁰C by end of century. Energy experts identify a combination of technology measures to curb global warming which includes: Boost solar power more than 10 times to 5 TW, wind power by 5 times to 3 TW and increase battery production for EVs 50-fold by 2030.DNV GL calls for extraordinary policy action to advance renewables, new decarbonization technologies and systems…
Chinese Oil Demand Rebounds
Chinese demand for crude oil is rebounding as independent refiners push to buy before prices climb further from low levels hit late last year, restocking with supplies that will arrive in March and April, trade sources said.That appetite from such refiners, often known as 'teapots', has driven up spot premiums for oil from Africa, Europe, Russia and Oman, the sources said, with prices for some grades hitting multi-month highs.That comes…
China’s Oil and Gas Industry to Focus on Environment Impact
China’s oil and gas industry is set to reinforce efforts to reduce environmental impacts of its projects and operationsin 2019, said a research.According to a new research from DNV GL, six in ten (61%) senior oil and gas professionals in China say their organizations are actively preparing for the transition to a lower carbon energy mix compared to 51% globally. Industry leaders’ focus on decarbonization aligns with the Chinese government’s…
DNV GL bags COSCO's HVDC Converter Platform Deal
DNV GL has been awarded a contract by COSCO Shipping Company Limited (COSCO SHIPPING) of China for the installation engineering services for the BorWin gamma high voltage direct current (HVDC) converter platform. The Dutch-German transmission system operator TenneT is developing the offshore AC/DC converter platform BorWin gamma as part of the grid connection project BorWin3. The project will provide an essential renewable offshore resource to meet increasing energy demands in Germany…
Oil Falls on Fading Supply Freeze Prospects
Oil dips as expectations of steps to curb supply fade. Oil prices hit one-month lows as prospects of top exporters agreeing to curb chronic oversupply faded, while other commodities also lost ground as the dollar steadied after Friday's strong U.S. data. Wall Street looked set to open higher, according to index futures , after shares rose sharply in Europe and modest gains in Asia. Brent crude, the international benchmark, fell as far as $38.18, its lowest since March 4, before recovering to trade up 18 cents at $38.85.
LR to help China Design Shipborne Nuclear Power
Lloyd’s Register announced a co-operative Framework Agreement with the Nuclear Power Institute of China (NPIC) in Chengdu, to assist in the design and development of a safe and secure floating vessel containing a Small Modular Reactor (SMR) – a first for China. Mark Bassett, Nuclear Director at Lloyd’s Register Energy, says: “NPIC recognises Lloyd’s Register’s unique combination of experience in nuclear, offshore and marine safety and regulation.
DNV GL Wins Frame Agreement with CLP Hong Kong
DNV GL, the technical advisor to the oil and gas industry, has been awarded a framework agreement by CLP Hong Kong to deliver risk management advisory services for its Asia Pacific operations. Projects are already underway, with several more projects expected within 2015. The term of the contract is two years, with an option for further extensions. The frame agreement covers all CLP operations in Hong Kong, mainland China, Taiwan, India, South East Asia and Australia.
Obama's U.S. Carbon Cuts Likely To Win Muted Applause
President Barack Obama's plan to cut greenhouse gas emissions from U.S. power plants, due to be announced on Monday, will win muted applause abroad with some hopes it could help a U.N. deal to fight climate change in 2015. Emerging economies including China and India are likely to be lukewarm because they have often said that Obama's plans for emissions cuts until 2020 - even if fully implemented - are far short of the curbs they say are needed by the rich. But the U.S.
