Daily Energy News
Policy & Regulatory
Nigeria’s updated NDC targets 47% conditional cut in GHG emissions by 2030
2 Aug 2021
Nigeria has unveiled a new update of its First Nationally Determined Contribution (NDC), setting an unconditional greenhouse gas (GHG) emission reduction target of 20% and a conditional reduction target up to 47% of the business-as-usual (BAU) scenario by 2030. Under its BAU scenario, Nigeria estimates GHG emissions at around 453 MtCO2eq by 2030; the 47% cut would limit GHG emissions to 244 MtCO2eq.
Malaysia sets more ambitious carbon intensity reduction target for 2030
2 Aug 2021
Malaysia has updated its First Nationally Determined Contribution (NDC), pledging to unconditionally reduce its economy-wide carbon intensity (CO2 emission per unit of GDP) by 45% in 2030 compared to 2005 level. This is an increase of 10% from the earliest submission (35% unconditional reduction and 10% conditional to financing and technology transfer by developed countries).
Ireland adopts law to halve GHG emissions by 2030 compared to 2018
30 Jul 2021
Ireland has transformed into law the Climate Action and Low Carbon Development (Amendment) Bill. The law sets a binding target of cutting greenhouse gas (GHG) emissions by 51% by 2030 compared to 2018, with the aim of reaching carbon neutrality by 2050.
Oman aims to reduce its GHG emissions in 2030 by 7% compared to BAU
30 Jul 2021
Oman has unveiled its Second Nationally Determined Contribution (NDC), setting an unconditional greenhouse gas (GHG) emission reduction target of 4% and a conditional reduction target up to 3% of the business-as-usual (BAU) scenario by 2030. Under its BAU scenario, Oman estimates GHG emissions at around 125 MtCO2eq by 2030; the 7% cut would limit GHG emissions to 116 MtCO2eq.
Companies
Eni (Italy) targets 1.2 GW of renewable capacity by the end of 2021
2 Aug 2021
The Italian oil and gas group Eni has increased its renewable capacity target for 2021 from 0.7 GW to 1.2 GW (up to 2 GW including renewable projects under construction). In July 2021, its subsidiary Eni gas e luce signed an agreement with Azora Capital for the acquisition of a portfolio of 9 renewable energy projects in Spain expected to be commissioned by 2024, including 3 operational wind plants and a wind project under construction totalling 230 MW, and 5 large solar projects in advanced development with a total capacity of around 1 GW.
Romania plans to partially privatise power utility Hidroelectrica in 2022
2 Aug 2021
Romania plans to complete a public offering of a minority stake in its the country’s largest power producer Hidroelectrica in the second half of 2022. A 15% stake in the company should be floated, but the offering could be raised to 20% if the Fondul Proprietatea investment funds – which holds 20% in Hidroelectrica – joins the listing. The state-owned power utility intends to fund new wind and solar projects, including a 300 MW pilot offshore wind project in the Black Sea.
Energy & Climate Markets
Russia may stop exporting gasoline to lower domestic prices
2 Aug 2021
The Russian Ministry of Energy has proposed to start a procedure for a ban on gasoline exports. The measure is expected to help reduce domestic prices for gasoline after months of price increase. In 2020, Russia exported 2.5 mb/d of petroleum products, including 132,000 bbl/d of motor gasoline; this is 9.6% more than in 2019, 20% more than in 2015 and 93% more than in 2010 (6.8%/year growth over the 2010-2020 period).
Infrastructure & Investments
Entergy plans a 1.2 GW gas-hydrogen CCGT plant in Texas (US)
2 Aug 2021
Entergy Texas has launched the process to seek approval to construct the 1,215 MW Orange County CCGT power plant located near Bridge City, Texas (United States). The project will use a combination of natural gas and hydrogen. If the Public Utility Commission (PUC) of Texas approves Entergy Texas’s application, construction will begin in the second quarter of 2023.
Rosatom starts hot functional test at Ostrovets-2 nuclear reactor (Belarus)
2 Aug 2021
Rosatom has proceeded to hot functional test at the 1,110 MW (1,194 MW gross) Ostrovets-2 nuclear reactor in north-western Belarus. This is the large-scaled stage of commissioning works before the physical start-up, and the reactor is expected to be commissioned by the end of 2021.
Avangrid’s 800 MW offshore wind project enters approval process (US)
2 Aug 2021
The US Bureau of Ocean Energy Management (BOEM) has issued a Notice of Intent (NOI) to prepare an Environmental Impact Study (EIS) for the first phase (800 MW) of the 2.5 GW Kitty Hawk offshore wind project off the coasts of Virginia and North Carolina (United States). The project is developed by Avangrid (owned by the Spanish energy group Iberdrola), through Avangrid Renewables. The company’s Kitty Hawk Wind Energy Area (WEA) is expected to support a total generation capacity of 2,500 MW. Construction could start as early as in 2024.
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