Daily Energy News
Policy & Regulatory
Australia unveils a plan to develop the Beetaloo shale gas sub-basin
20 Jan 2021The Australian government has released an AUD224m (US$173m) plan to accelerate exploration and development of the Beetaloo sub-basin in the Northern Territory (NT), which is expected to hold more than 200,000 PJ (nearly 5,700 bcm) of shale gas resources. Australia aims to forward the final investment decisions of Beetaloo development to 2025 or earlier. The Beetaloo sub-basin has the potential to supply downstream gas industries in the Northern Territory, the Australian east coast domestic gas market and potentially LNG exports.
Read moreUzbekistan plans to create a wholesale market for electricity
19 Jan 2021Uzbekistan plans to create a wholesale market for electricity and to end special government permits and customs duty on imported liquefied petroleum gas (LPG) from 1 March 2021, according to a draft document. The Uzbek authorities could also authorise private enterprises to import electricity and gas as of 1 August 2021.
Read moreCompanies
Norway’s Aker agrees to acquire renewable developer Mainstream
20 Jan 2021Norway’s energy group Aker has agreed to acquire a 75% stake in the Ireland-based global wind and solar project developer Mainstream Renewable Power, in a transaction valuing the company at €900m (on a 100% basis, plus a €100m potential earn-out in 2023), subject to customary adjustments. The transaction, which is subject to customary and regulatory approvals, is expected to close by June 2021.
Read moreTotal acquires a 20% stake in Indian solar developer AGEL for US$2.5bn
19 Jan 2021Total has acquired a 20% interest in Adani Green Energy Limited (AGEL) from Adani Group (India) and a 50% stake in a 2.35 GW portfolio of operational solar projects for US$2.5bn. AGEL has over 14.6 GW of contracted renewable capacity, with an operating capacity of 3 GW and another 3 GW under construction and 8.6 GW under development. The company aims to achieve 25 GW of renewable power generation by 2025.
Read moreEnergy & Climate Markets
China’s power generation grew by 2.7% in 2020 and consumption by 3.1%
20 Jan 2021According to the Chinese National Bureau of Statistics, China’s coal production increased by 0.9% in 2020 to over 3.8 Gt and coal imports grew by 1.5% to 304 Mt. Crude oil production slightly increased in 2020 (+1.6%), and 670 Mt of crude oil were processed (+3%). China’s gas production rose by 9.8% and gas imports increased by 5.3%. Power generation grew by 2.7% in 2020.
Read moreAlgeria’s oil and gas exports decreased by 11% in 2020
20 Jan 2021According to the Algerian Ministry of Energy, Algeria’s oil and gas exports decreased by 11% in 2020 (in volumes) and only raised US$20bn, i.e. 40% less compared to 2019. Indeed, the average price of oil fell to US$42/bbl in 2020, compared to US$64 in 2019, a loss of nearly US$23/bbl (-35%). Oil and gas account for 96% of Algeria’s hydrocarbon and petrochemical exports.
Read moreKansai Electric’s Ohi-4 nuclear unit resumes power generation (Japan)
20 Jan 2021The fourth unit of Kansai Electric’s Ohi nuclear power plant (Ohi-4) in the Fukui prefecture of Japan has resumed power generation. The 1,127 MW pressurized water reactor (PWR) was shut down for scheduled maintenance on 3 November 2020. However, the Osaka district court revoked the operating permits for Ohi-3 and Ohi-4 in December 2020.
Read moreUniper agrees to buy more Australian LNG from Woodside Petroleum
20 Jan 2021The Australian energy group Woodside Petroleum has amended its binding long-term sale and purchase agreement (SPA) of LNG with the German energy group Uniper. The quantity of LNG to be supplied under the amended 13-year SPA has doubled. Initial supply starting in 2021 is now for a volume of up to 1 Mt/year, increasing to approximately 2 Mt/year from 2026. Most of LNG supply from 2025 is conditional upon a final investment decision (FID) on the development of the Scarborough gas resource offshore Western Australia.
Read moreInfrastructure & Investments
The 1.2 GW NECEC power transmission line project enters construction (US)
20 Jan 2021The New England Clean Energy Connect (NECEC) power transmission line project has received all major permitting, including the Presidential Permit from the US Department of Energy, and entered construction. The US$950m project is developed by Hydro-Québec and Central Maine Power, an affiliate of Avangrid (part of the Iberdrola group). It is aimed at delivering up to 1,200 MW of electricity generated at Hydro-Québec’s hydropower plants in Canada to the New England energy grid in Maine (United States).
Read moreIsraeli companies plan a new natural gas pipeline to Egypt
20 Jan 2021The partners in the Leviathan and Tamar gas fields offshore Israel have agreed to invest ILS 765m (US$235m) to build a new 5.5 bcm/year gas pipeline between the Leviathan and Tamar reservoirs to EMG’s terminal in Ashkelon (southern Israel) that would be operated by Israel Natural Gas Lines (INGL), in order to export natural gas to Egypt. In January 2020, Israel started to export gas from the Tamar and Leviathan offshore reservoirs to Egypt through the 90 km subsea East Mediterranean Gas (EMG) gas pipeline between Ashkelon (Israel) and El Arish (Egypt).
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