Daily Energy News
Policy & Regulatory
UK Ofgem unveils a €28bn green investment plan for 2021-2026
10 Jul 2020The UK Office of Gas and Electricity Markets (Ofgem) has released a £25bn (€27.9bn) green investment plan for 2021-2026, which seeks to improve the country’s gas and electricity transmission and distribution infrastructure and to deliver emissions-free green energy.
Read moreJordan’s energy strategy for 2020-2030 focuses on reducing gas imports
9 Jul 2020The Jordanian government has unveiled its energy sector strategy for 2020-2030, which seeks to diversify energy sources and reduce fuel imports. The contribution of (imported) natural gas to power generation will decrease from more than 80% to 53% in 2030, while the share of renewables in the power mix will increase from less than 4% to 31%. Local energy sources should cover around 48.5% of the power mix, up from the current 15%. The plan also includes energy efficiency measures and targets 100% smart meter installation by 2030.
Read morePoland presents a new draft of its offshore wind bill
9 Jul 2020Poland has released a new draft of its Offshore Wind Act, which outlines plans for more than 10 GW of capacity to be awarded by 2028. The regulator will offer offtake agreements, similar to the UK’s Contract for Difference (CfD) model, in two phases: 4.6 to 5.9 GW by the end of June 2021 and 5 GW auctioned across two tenders in 2025 and 2027. Developers, which would be eligible for government premium payments for 25 years, should be responsible for building and financing the connection between offshore wind plants and the onshore grid.
Read moreEnergy & Climate Markets
Kinsale Head gas fields ceases production (Ireland)
10 Jul 2020The Kinsale Head gas field off the coast of Cork in Ireland has ceased to produce after 42 years. The Kinsale Head gas field was discovered by US company Marathon Oil in 1972 and acquired by Malaysia’s national oil and gas group Petronas in 2009. With a peak production of 2.8 bcm/year, it was Ireland’s only indigenous source of natural gas until 2015 and the country’s largest operating gas field.
Read moreForecasts
France’s cut in GHG emissions insufficient to meet future carbon budget
10 Jul 2020According to the French High Council on Climate (HCC), the current reduction in greenhouse gas (GHG) emissions is insufficient to meet future carbon budget. France’s GHG emissions decreased by 0.9% in 2019, which is similar to previous years and far from the -3% decrease expected in 2025. The four main emitting sectors, namely transport (30%) followed by agriculture, construction, and industry, all missed the first carbon budget (2015-2018). For the HCC, the temporary drop in emissions during lockdown is marginal in comparison with the efforts to be made.
Read moreInfrastructure & Investments
China plans to increase its nuclear capacity to 70 GW in 2025
10 Jul 2020China should increase its nuclear capacity by more than 40% between 2020 and 2025,with six to eight nuclear reactors commissioned per year. The country should raise total nuclear power capacity from the current 48.7 GW (at the end of 2019) to 70 GW in 2025. In the short run, however, China is expected to miss its 2020 target (58 GW) as the country’s nuclear capacity should stand at 52 GW by the end of 2020.
Read moreTotal secures a US$15.8bn loan for the Mozambique LNG project
10 Jul 2020A consortium of 20 banking institutions including FNB Mozambique, a subsidiary of the South African bank FirstRand, has awarded a US$15.8bn funding to Total for its US$20bn Mozambique LNG project in Mozambique.
Read moreCapital Dynamics and Tenaska will develop a 4.8 GW US solar portfolio
10 Jul 2020The private asset management firm Capital Dynamics has signed a partnership with the US independent power producer Tenaska to develop 24 solar projects in the United States, located in the Midcontinent Independent System Operator (MISO) and Southeast Reliability Council (SERC) markets and totalling 4.8 GW. The two companies will jointly work to commercialize the projects.
Read moreCanadian group CBH plans a new 300,000 bbl/d refinery in Oman
10 Jul 2020The Canadian company CBH plans to invest US$1.5bn in developing a new 300,000 bbl/d greenfield refinery project in Oman under a private-private partnership model. The refinery will produce low sulphur fuel oil for maritime vessels. The refinery will produce low-sulphur refined bunker fuels for shipping in compliance with the new IMO regulations.
Read moreEolus and SCA plan to develop 1 GW of wind projects in Sweden, Latvia and Estonia
10 Jul 2020Sweden-based wind power developer Eolus has signed a partnership agreement with the Swedish pulp and paper company SCA to develop 1 GW of wind projects in Sweden, Latvia and Estonia. The plants would be developed on land owned by SCA, which currently produce 5 TWh/year.
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