Minister says high LNG prices are hurting Bangladesh's industrial development.
The power minister of Bangladesh said that high LNG prices have slowed Bangladesh's industrial development, forcing electricity outages, and stifling expenditure on development projects. This is due to the higher government spending on gas subsidies. Iqbal Hasan Mahmud, Bangladesh's energy minister, said that the industrial growth was?slowing and that production is reducing. It is having a major effect. The government's subsidies to gas consumers also increase as LNG prices go up.
Andy Home: How yttrium, a rare and obscure element, became a global hot topic.
You can get a good idea of what the current state of the planet is by looking at yttrium. When China's President Xi Jinping and U.S. president Donald Trump meet later this month in Washington, the obscure?member? of the rare-earths family will be on the agenda. China is the dominant supplier of yttrium in the United States, as well as other critical minerals. China has been sporadic in its deliveries of yttrium since the middle of last year.
Gambia bans unauthorised protests after unrest caused by power cuts
The police chief in Gambia has announced that no more protests are allowed without permits in the West African country. This follows the use of tear gas by authorities earlier this week to disperse large crowds who had gathered to denounce the prolonged power outages during the hottest months. The protests that lasted for multiple nights showed the frustration of President Adama Bin Barrow in advance of the elections scheduled for December.
The French baseload electricity contract for the front year is at a three-year high
On?Thursday the French baseload year-ahead?electricity contract reached its highest level since December 20, 2023, at EUR90.65 ($105.39), tracking higher gas prices. Over the past 10 days, the French wholesale front-year electricity contract has been rising continuously as it follows the spiraling gas prices. France's nuclear fleet of 57 reactors is responsible for 70% of its electricity. However, European markets are interconnected, so that high gas prices, which determine the price?of electricity?in Europe, could drive French costs up.
South Korea's electricity demand is set to rise on the back of AI boom, as nation considers expanding nuclear energy
According to the energy minister, South Korea's demand for 'power' in the future will surge due to plans by Samsung Electronics and SK Hynix of expanding production 'and building new AI data centers'. Kim Sung Whan, Minister of Climate, Energy and Environment, said that the AI-driven power requirements?alone? will increase South Korea's power demand by 25-30 gigawatts. He added that the country would also have to deal with an increase in…
Thailand invests in rooftop solar to protect against LNG price shocks
Akanat PROMPHAN, Thailand's Energy Minister, said that the country will assist 1 million households in installing 5 gigawatts of rooftop solar panels by year-end to protect citizens from soaring energy prices caused by the Iran War. This move is financed through a 200 billion Baht ($6.01billion) emergency energy transition fund. It's the third major Asian importer of liquefied gas to use rooftop solar as a hedge against rising prices after the Philippines, and Bangladesh.
Kosovo parties strike deal to elect president, breaking deadlock
?Vetevendosje, the party of Kosovo caretaker prime minister Albin Kurti and the Democratic League of 'Kosovo, the opposition, agreed to support the election of a a new president on Monday, a move which could break nearly a??years of political deadlock. Bekim Sejdiu is a 51-year-old law professor who teaches at the University of Pristina. He was previously Kosovo's Ambassador to Turkey and the consul general of New York. Kurti's?party, which won the snap June 7 election, only needs a few votes from smaller minor parties to form a coalition.
Sembcorp India Renewables, backed by Temasek, filess for $393 Million IPO
Draft papers from Wednesday show that Sembcorp Green Infra (the Indian renewable energy division of Temasek-backed Sembcorp Industries) has filed to make an IPO in Mumbai. The aim is to raise up to 37.5 billion rupees (393,04 million dollars). Sembcorp has filed its second application to make its Indian energy division public. The move comes at a time when India's IPO markets are showing signs of resurgence after a sluggish first half of the calendar year.
Europe and Asia boost renewable energy in response to the US-Iran War
The U.S. and Israel war against Iran has lasted six months. Governments in Europe and Asia are now scrambling to build out renewables to?cut dependency on fossil fuel imports. This will provide a new impetus for the global energy transformation. The effective closure of the Strait of Hormuz, which has slowed down a fifth of world oil and LNG shipments, has led governments from South Korea to Thailand and the European Union to pledge to increase funding to renewable energy sources. Has the conflict benefited the transition to clean energy?
China's fossil fuelled power production falls in July due to a slowdown in electricity generation
Data from the National Bureau of Statistics revealed that China's fossil fuelled?power production fell in July, in line with an overall?decrease?in power?generation. The data shows that China generated 943.9 kilowatt hours (kWh) in July, a 0.1 percent decrease compared to the same period last year. The thermal electricity generated mainly by coal-fired power plants fell 3.5% in the month of July, but rose 1.8% for the first seven months. The volume of hydropower increased by 6.7% in July, and 8.8% for the first seven-month period.
SMA Solar: EU restrictions on Chinese solar inverters will boost European suppliers
The European Union's ban on public funding for utility-scale inverters made by "high-risk countries" is set to shift the market toward European suppliers, according to?SMA Solar?s chief executive?on Thursday. The European Union's 27-country bloc imposed the ban on May 1, primarily affecting Chinese products. They cited fears that inverters connected to the internet from countries they deemed "high-risk", could be used by those countries to disrupt Europe’s power grid.
