Australian east coast energy prices skyrocketed earlier this year as a winter cold snap sent gas, coal, and electricity to record-highs, triggering price caps at A$40/Gigajoule (US$27/Million British Thermal Units), around 400% above the normal A$8-10/GJ price range.
Sustained high prices may accelerate downward pressures on Asian liquefied natural gas (LNG) demand, clouding long-term industry outlooks.
Ageing coal-fired power is increasingly replaced by renewable energy generation in the US and Europe. However, transitioning away from thermal coal will be complex and slow for Asian nations, particularly India and China, which make up 70% of global coal demand and face a steep rise in power demand.
A potential resurgence in nuclear power combined with increasing renewable energy capacity could see less liquefied natural gas (LNG) fueled power projects built in South Korea than previously anticipated.
China is continuing its rapid expansion into global new energy markets with exports of solar PV, wind turbines, and energy storage equipment, expected to be worth $100 billion this year, data from energy research firm Wood Mackenzie showed.
The coal plus renewables energy transition led by Asia Pacific’s largest growth markets – China and India – is gathering speed. Significantly, it is a lot cheaper than the natural gas plus renewables path followed by the EU and US to lower emissions.
Eastern Australia is experiencing a severe power crisis, which is largely the result of poor government planning, and serves as a reminder to other nations of the dire consequences that stem from failing to develop a pragmatic energy policy.
Japan will withdraw financing for key coal-fired power plant projects in Bangladesh and Indonesia under efforts aimed at accelerating a global phase-out of the dirtiest fossil fuel.
Solar Philippines has taken a further step toward massively expanding the nation’s renewables capacity, including with one of the world’s top projects, as it aims to help meet rising energy demand and aid a shift away from coal.
It is a strange time for the oil and gas sector. On the one hand, after years of price weakness, the money is rolling in again as the war in Ukraine and post-Covid disruptions keep prices high.
Australia’s new government, elected with a promise to accelerate a shift away from fossil fuels, is holding talks with oil and gas giants to ease an energy squeeze that’s delivered a first major test.
Shell (LON:SHEL) has taken a final investment decision (FID) to develop the Crux natural gas field offshore Western Australia.
Australians voted in a new government that has vowed to end decades of inaction by one of the world’s highest per capita emitters. Now the fight is about just how quickly to make up for lost time.
While hydrogen can be used in many sectors, its derivative, ammonia, has emerged as a key tool to provide flexible power generation and integrate variable renewables. Analysis by energy research company Wood Mackenzie shows that a 10% ammonia co-firing in global coal plants would translate to 200 million tonnes (Mt) of ammonia demand, a potential market of $100 billion by 2050.
Sweltering heat and ongoing blackouts are forcing India’s liquefied natural gas (LNG) importers to top up with expensive shipments.
Widespread adoption of carbon capture, utilisation and storage (CCUS) technologies in Southeast Asia remains highly unlikely, according to the latest findings from the Institute for Energy Economics and Financial Analysis (IEEFA).
Surging oil, gas, and power prices, together with the European Union (EU)’s goals of becoming less dependent on Russian supplies, and post-Covid-19 pandemic inflation, will catapult global energy spending this year to a record $2.1 trillion. Significantly, similar levels of spending have not been seen since 2014, Rystad Energy research shows.
Following presidential elections earlier this month, energy-short South Korea looks set to pivot back towards nuclear power, leaving the outlook for liquefied natural gas (LNG) imports less certain.
Back in the 1990s, a talking tortoise advertised power for British homes, with the famous slogan 'it's got to be easily turn off and onable.'
China and Russia’s trade relationship has become more complicated since the war started more than three weeks ago, raising questions about the future flow of energy between the two powerhouses.
The UK held exploratory talks with Electricite de France SA about the possibility of keeping the West Burton A coal-fired power plant generating beyond the end of September, when it’s due to close.
On the 24th February, the first of many Russian tanks rolled into Ukraine. And as Brian Wilson noted last week, some uncomfortable realities have kicked in here and across Europe.
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.
If the disruption to Russian gas deliveries spread beyond flows through Ukraine to include all Russian pipeline exports to Europe, liquefied natural gas (LNG) imports alone would not be able to meet the shortfall and additional supply levers would be required, the latest analysis from IHS Markit shows. Under such an extreme scenario mothballed coal and nuclear power would need to be restarted.
It’s been less than a month since world leaders pledged to combat climate change at the COP26 summit in Glasgow, yet Japan is already showing signs of putting the brakes on divestment from fossil fuels.