Indian Oil Corp, the country’s biggest oil refiner and a large user of hydrogen, will partner with top renewable energy producer ReNew Power and Larsen & Toubro Ltd. to produce green hydrogen that’s fast gaining momentum in the South Asian nation’s clean push.
The definitions of Environmental, social and corporate governance (ESG) have been challenged by Russia’s invasion of Ukraine, nowhere more so than in the energy sector, where companies have been forced by events to exit Russia abruptly and energy prices have soared to record levels.
The Indonesian government estimates that Southeast Asia’s largest economy will need investments of up to $25.2 billion to develop green hydrogen from 2031 to 2060. Significantly, state-backed Pertamina is looking to invest some $11 billion to help accelerate the clean energy transition, including hydrogen developments, over the next five years.
Europe has woken up to LNG demand as a means to provide energy security, even while such a move appears out of step with countries’ net zero commitments.
South Korea’s Samsung and Hyundai will collaborate with Global Green Growth Institute (GGGI) on a $1.2 billion clean energy project in Indonesia to produce green hydrogen.
Germany has struck agreements with Adnoc on securing low-carbon test ammonia cargoes, which will play a key part in the European state’s energy transition.
A rush of announcements on green hydrogen in the US highlights that the received wisdom, that blue hydrogen has the price advantage, does not tell the entire story.
Australia’s Woodside (ASX:WPL) and US-based technology developers ReCarbon and LanzaTech have launched a collaborative studies campaign aimed at converting carbon emissions into useful products.
RWE has flagged energy security concerns as driving the need for more green business – although raising the prospect of restarting coal power plants in the near term.
Malaysia’s Petronas and Japanese oil company ENEOS Corporation (ENEOS) have signed an agreement to advance studies for a commercial hydrogen production and conversion project at Kerteh in the Malaysian state of Terengganu. The move follows a pact signed between Malaysia and Japan last August to develop a clean hydrogen supply chain between the nations.
The second episode of Bigger Faster Better explores the future of hydrogen and compares how this crucial low-carbon technology is developing in the UK and the United Arab Emirates (UAE).
Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla has held high-level talks with Chevron, and various other US luminaries, at CERAWeek.
Australia’s Santos has started front-end engineering and design (FEED) work for its proposed giant carbon capture and storage (CCS) project offshore East Timor at the Bayu Undan field. Significantly, Santos aims to take a final investment decision (FID) in 2023 on the CCS project, which it claims has the potential to be the largest in the world.
The European Union can reduce its demand for Russian gas by two thirds before the end of 2022 and aims to eliminate this dependence entirely before 2030.
The Japan Bank for International Cooperation (JBIC) has pledged to invest up to €100 million ($108 million) as part of an equity participation in the Clean H2 Infra Fund S.L.P. of France. The fund, managed by Hy24, is targeting €1,500 million in equity. Significantly, Hy24 claims it is the world’s largest clean hydrogen infrastructure investment fund.