The European Investment Bank (EIB), the bank of the European Union (EU) and the world’s largest multilateral lender, said it is ready to invest up to €1 billion (US$998 million) each year in green and sustainable development projects in Indonesia.
To hit its 2060 net zero pledge, Indonesia will need to almost triple energy investment by 2030, the International Energy Agency (IEA) said in its latest report. That means an extra $8 billion in investment a year by the end of this decade compared with a business-as-usual pathway.
By Andy Williamson, vice president Energy Transition at OPITO
Floating offshore wind (FOW) is the new great hope, the next big breakthrough, in renewable energy. It is a huge worldwide growth area with transformative potential for our people, our communities, and our national wealth and wellbeing.
“The issue of supply security caused by the Ukraine crisis that Europe is currently facing will speed up the green transition,” said Benjamin Lakatos. According to MET Group’s CEO, ongoing discussions about energy transition have now become more balanced.
Over 350 energy, business and industrial leaders from the North America’s largest organizations will come together in Houston, November 09-10 at Reuters Events: Energy Transition North America 2022, where they will discuss the urgent need to decarbonize North American energy production and deliver strategies to turn global net zero ambition into meaningful net zero action.
By Alasdair Green, Director and Head of E&P at Anderson Anderson & Brown (AAB)
From a backdrop of major covid related challenges and changes over the past few years, and in response to the ongoing needless Russian conflict, the energy industry continues to live up to being known for its high levels of dynamism and transformation as well as its adaptability and resilience.
Chevron (NYSE:CVX) and Pertamina will together explore potential business opportunities in geothermal, carbon capture utilisation and storage (CCUS), as well as hydrogen, in Indonesia, after signing an agreement in Washington.
By Mark Wilson, Health, Safety and Environment Director, Offshore Energies UK
The global response to the tragic invasion of Ukraine has underlined the importance of energy security and the need for responsible, clean and reliable sources of energy for our country: a balanced transition is key as we look to secure a bright future for our industry and its workforce.
Japanese companies Inpex and JGC are teaming up with Thai upstream player PTT Exploration & Production (PTTEP) to explore potential carbon capture and storage (CCS) developments in Thailand. The move follows PTTEP’s recent announcement that it has set a 2050 carbon neutral target.