Daily Energy News
Policy & Regulatory
Australia proposes a gas-led recovery plan from the coronavirus recession
16 Sep 2020The Australian government has presented a plan to boost gas supply and reduce energy prices, promising a “gas-led recovery” from the coronavirus recession. The authorities intend to reset the east coast gas market and to create a more competitive and transparent Australian Gas Hub, along with a voluntary industry-led code of conduct for gas producers and consumers.
Read moreIsrael sets to approve Chevron taking over Noble’s gas assets
16 Sep 2020The Israeli Energy Ministry has approved the acquisition by Chevron of Noble Energy’s stakes in two large offshore gas fields in the eastern Mediterranean. In July 2020, Chevron and Noble Energy reached a definitive agreement, under the terms of which Chevron will acquire all of the outstanding shares of Noble Energy in an all-stock transaction valued at US$5bn (US$10.38 per share). Including debt, the total enterprise value is US$13bn (including US$8bn in debt).
Read moreArgentina seeks a deal with Brazil on a new gas interconnection
16 Sep 2020Argentina seeks to accelerate a deal with Brazil for the construction of a new gas pipeline between the Vaca Muerta gas production field in Argentina and Porto Alegre, in the Brazilian state of Rio Grande do Sul. The 2,0000 km long gas pipeline project could cost US$5bn (US$3.7bn for 1,430 km in Argentina and US$1.2bn for 600 km in Brazil). Once the decision to build the pipeline is made, construction should take 3 years.
Read moreThe US reaches deal with Russia’s Rosatom on uranium supply agreement
16 Sep 2020The US Department of Commerce has agreed with the Russian state-owned nuclear company Rosatom to amend the Agreement Suspending the Antidumping Investigation on Uranium from the Russian Federation, which was originally signed in 1992. The new agreement, if finalised, would extend the Agreement to 2040 and reduce US imports of Uranium from Russia. The share of Russian imports, which is currently limited to 20% of US enrichment demand, would decrease to 17% over the next 20 years and would no higher than 15% as of 2028.
Read moreNersa issues plan to procure 12 GW of power in South Africa
15 Sep 2020The National Energy Regulator of South Africa (Nersa) has issued a second concurrence to a Section 34 Ministerial Determination, which will allow the Department of Mineral Resources and Energy (DMRE) to procure more power. The decision will allow the DMRE to secure 11,813 MW of power (including 6.8 GW of solar, 3 GW of gas-fired capacity, 1.5 GW of coal-fired capacity, and 513 MW of electricity storage). Potential suppliers must submit bids by 24 November 2020. Preferred bidders are expected to be announced on 15 December 2020 with a financial close expected on 30 April 2021.
Read moreAustralia unveils a plan to support domestic refineries
15 Sep 2020The Australian government has decided to invest AUD211m (US$154m) to increase domestic fuel storage capacities by building an additional 780 megalitres of onshore diesel storage. It will also introduce a minimum stockholding obligation of 24 days for petrol and jet fuel stocks (28 days for diesel) and will subsidise local refineries to keep them open, in order to secure its long-term fuel supply as the coronavirus-driven demand fall threatens to close refining capacities.
Read moreCompanies
Ignititis, EDP and Engie will jointly bid for offshore wind projects (Lithuania)
16 Sep 2020Ocean Winds, the 50:50 offshore wind joint venture of EDP Renewables and Engie, has created a partnership with the Lithuanian energy group Ignitis to participate in auctions for offshore wind projects in Lithuania, where the first auction is scheduled in 2023. In June 2020, the Lithuanian government selected a 137.5 km2 area in the Baltic Sea Economic Zone to locate a 700 MW offshore wind project.
Read moreInfrastructure & Investments
Glenfarne seeks authorisation to delay Magnolia LNG to 2026 (US)
16 Sep 2020Magnolia LNG and Kinder Morgan Louisiana Pipeline have filed a request with the US Federal Energy Regulatory Commission (FERC) seeking a 5-year extension for the Magnolia LNG export project, located in the Lake Charles District in Southwest Louisiana (United States). The project was expected to enter operations by 15 April 2021; project developers now target commissioning in April 2026.
Read moreTrung Nam Group moves ahead with 630 MW solar project in Vietnam
16 Sep 2020The Vietnamese conglomerate Trung Nam Group has selected the Chinese company JinkoSolar to supply 611 MW of solar modules for its Thuan Nam solar power plant project in Vietnam.
Read moreCNOOC connects a 300 MW offshore wind project to the Chinese grid
16 Sep 2020The Chinese state-owned oil and gas company CNOOC has connected its first 300 MW offshore wind project to the Chinese grid. Located off the coast of Jiangsu Province, the project is expected to be fully commissioned by the end of 2020, with an average production of 860 GWh/year.
Wind accounts for 10% of China’s installed capacity, with 210 GW (2019). As of September 2020, more than 18 GW are under construction, and over 35 GW under development.
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