South Korea chided for declaring gas a sustainable investment
South Korea’s government is being criticised for including natural gas in a category of activities that it deems will help cut emissions.
South Korea
Gas giant in Korea accused by activists of greenwashing over Australian LNG
South Korea’s largest private gas provider SK E&S is facing legal action from a climate activist group alleging that it falsely advertised the green credentials of the Santos-led (ASX:STO) Barossa liquefied natural gas (LNG) project in Australia.
POSCO and Petronas team up for CCS in Malaysia
Malaysian state energy company Petronas and South Korea’s POSCO International will jointly explore opportunities in carbon capture and storage (CCS) technologies, as well as carbon dioxide (CO2) storage solutions in Malaysia. Significantly, Petronas wants to establish Malaysia as the leading hub for CCS in the Asia region.
Woodside eyes first mover advantage in North Asian hydrogen markets
Australian liquefied natural gas (LNG) developer Woodside (ASX:WPL) is busy positioning itself for a future in which hydrogen may play a growing role in the energy mix. Significantly, it is working closely with customers in its traditional LNG export markets – particularly Japan and South Korea – to meet demand for cleaner forms of energy.
UK backs US oil release plans with eye on controlling prices
The UK will back President Joe Biden’s plans to release emergency oil supplies in an attempt to reduce the price of oil.
Biden calls for major oil reserve sales, but in Asia, that’s not so easy
Dwindling inventories and concerns over energy security in key Asian economies may hamstring US efforts to arrange for a sizeable and coordinated release of strategic crude reserves in a bid to rein in prices and tackle inflation.
Equinor signs 3-GW offshore wind partnership in Korea
Equinor has signed a memorandum of understanding with Korean East-West Power (EWP) to cooperate on 3 GW of offshore wind projects in South Korea.
Coral Sul sets off for Mozambique
The Coral Sul floating LNG (FLNG) vessel left Samsung Heavy Industries (SHI) shipyard this morning on its way to Mozambique.
Accepting gas as sustainable will hurt Korea’s green finance credentials
After six months of resisting industry calls to add liquefied natural gas (LNG) to its green taxonomy, the South Korean government last week finally succumbed to gas lobbyists, says Institute for Energy Economics and Financial Analysis (IEEFA).
La Nina threatens to worsen Asian energy crisis with colder winter
A weather phenomenon that typically delivers harsher winters is on the way and expected to add to Asia’s energy crisis.
POSCO’s bid for Senex could be Australia’s largest upstream takeover since 2018
Australian east coast gas producer Senex Energy (AX:SXY) said today that it had received a $605 million takeover offer from POSCO International (KS:047050) and has embarked on an exclusive period of due diligence with the South Korean trader.
China offshore wind offers niche opportunities for Scottish players
China, which is on track to overtake the UK and become the world’s largest offshore wind market, offers niche opportunities for experienced Scottish companies.
Woodside teams up to drive hydrogen adoption in South Korea
Australian liquefied natural gas (LNG) developer Woodside has joined five parties to establish the HyStation company, which aims to build and operate hydrogen refuelling stations to service public transport bus fleets in South Korea.
Ammonia: the missing link in the energy transition?
Plans for ammonia exports are taking shape around the world, as companies compete to secure the most attractive opportunities to fuel future zero carbon aspirations.
Qatar bolsters Korea LNG exports
Qatar Petroleum (QP) has struck yet another LNG supply deal, agreeing to export 2 million tonnes per year to Korea Gas Corp. for 20 years.
Lifting of Iran sanctions to spark fight for oil market share in Asia
The expected return of Iranian oil to the market as US sanctions are likely to be lifted over the next year will offer new opportunities for former buyers in Asia to reshuffle their oil import mixes. Significantly, the return of Iranian barrels will trigger a fierce battle among global suppliers for market share raising the risk of price drops, reported Fitch Solutions.
Arup and ODE win South Korea offshore wind deal
Hyundai Engineering has awarded Arup and Offshore Design Engineering (ODE) an engineering services contract for the 220 MW Anmado offshore wind project in South Korea.
South Korea seeks bids for large-scale solar to meet 2030 target
South Korea will launch its largest-ever solar photovoltaic (PV) tender in July when it will offer 2 GW of capacity. An extra 2GW could also be offered later this year.
Ørsted and POSCO team up for South Korean offshore wind and hydrogen
Denmark-based renewable energy developer Ørsted and South Korean conglomerate POSCO have signed a memorandum of understanding to expand their relationship as the North Asian nation seeks to significantly boost its offshore wind capacity.
South Korea’s first floating wind project advances
Korean National Oil Corporation (KNOC) said it will pursue its development plan for the nation’s first floating wind development after the 200MW Donghae-1 project passed a crucial feasibility study.
Vast opportunities loom as Asia offshore wind gets set for massive expansion
The offshore wind market in Asia is expected to experience massive expansion over the next five to 10 years, particularly in the more advanced economies of Taiwan, Japan and South Korea, as governments face increasing pressure to focus on climate change and hit their net-zero emissions targets.
Santos completes Bayu-Undan and Darwin LNG sell-down to South Korea’s SK
Australia’s Santos has completed the sell-down of 25% interests in Bayu-Undan and Darwin LNG to South Korea’s SK E&S, which is also a partner in the recently sanctioned Barossa development.
Offshore wind projects FIDs expected to increase 57% in coming months, Westwood Global says
Offshore wind projects final investment decisions (FIDs), outwith mainland China, are expected to grow by more than half in the next 18 months.
Jellyfish-like organisms halt two South Korean nuclear reactors
Sea salps -- gelantinous, marine organisms that look like jellyfish -- have clogged water systems used to cool nuclear reactors in South Korea, forcing two units offline.
China’s mega-refineries are throttling other Asia oil processors
The rise of China’s mega-refineries was always going to make life tougher for their competitors across Asia. But the fallout from Covid-19 is hastening the impact and accelerating consolidation across the region.