Daily Energy News
Policy & Regulatory
India vows to shift from coal-fired power capacity to renewables
8 Oct 2020According to the Ministry of Power, India is considering closing some of its coal-fired power plant, in a bid to cut the country’s carbon footprint. The coal-fired power plants would be replaced with renewable generating capacity.
Read morePolish antitrust agency fines Gazprom €6.5bn over Nord Stream 2 project
8 Oct 2020The Polish Office of Competition and Consumer Protection (UOKiK), Poland’s antitrust agency, has fined Gazprom PLN29bn (€6.5bn) for building the 55 bcm/year Nord Stream 2 gas pipeline without its consent. In addition, the UOKiK imposed a penalty of PLN234m (€52m) on Engie, Uniper, OMV, Shell and Wintershall, which are each owning 10% in the project (50% Gazprom).
Read moreColombia aims to start oil fracking before the end of 2021
8 Oct 2020According to the Colombian Ministry of Mines and Energy, the first oil fracking operations in the country could take place by the end of 2021. The government plans to carry fracking pilots in the first half of 2021. Six oil companies, which have shown interest in being able to drill under this modality in Colombia, will have to complete environmental impact assessments. The Ministry estimates that fracking could increase gas reserves in Colombia from 8 to at least 130 years.
Read moreThe UK targets 40 GW of offshore wind power capacity by 2030
7 Oct 2020The UK government has raised its target for offshore wind power capacity by 2030 from 30 GW to 40 GW. The authorities intend to release a 10-point programme for a “green industrial revolution” by the end of 2020. The country will invest £160m (€176m) in manufacturing the next generation of turbines, including floating wind turbines that could deliver 1 GW by 2030. In 2019, the UK had the largest offshore wind power capacity in the world, with 9.7 GW.
Read moreMexico investment plan’s energy projects focus on refinery upgrades
7 Oct 2020The Mexican government has unveiled a MXN297bn (US$14bn) infrastructure plan, which includes 5 energy projects totalling MXN99bn (US$4.6bn) in expected investment. The government intends to complete a MXN54.7bn (US$2.7bn) coking plant at Pemex’s 315,000 bbl/d Tula refinery in central Mexico, which would increase the production of higher-value motor fuels like gasoline and diesel.
Read moreCompanies
Equinor postpones 3 oil and gas projects on the Norwegian Shelf
8 Oct 2020Due to the Covid-19 pandemic and weakened Norwegian krone, Equinor has announced cost increases and postponed start-up at the Martin Linge, Johan Castberg and Njord projects on the Norwegian Continental Shelf. The costs related to Martin Linge have increased by 96% since the plans for development and operation (PDO) in 2012. The project, which holds a recoverable potential of 300 Mboe, is expected come on stream in the summer of 2021. The Johan Castberg’s start-up is delayed by one year to 2023. The field’s resources are estimated 450-650 Mboe.
Read moreF2i SGT and Asterion acquire the Italian power producer Sorgenia
8 Oct 2020The Italian infrastructure fund F2i SGR and the independent investment management company Asterion Industrial Partners have completed the acquisition of Sorgenia, an Italian power producer with a total capacity of 3.4 GW, from the creditor banks holding Sorgenia’s shares; CIR and Verbund (Austria), which owned the company, transferred the shares to banks after a debt restructuring in 2015. The transaction was announced in December 2019. Sorgenia is now held by Zaffiro, a vehicle company owned by F2i (72.4%) and Asterion (27.6%).
Read moreEnergy & Climate Markets
The US and Russia finalise uranium supply agreement
8 Oct 2020The US Department of Commerce and the Russian state-owned nuclear company Rosatom have signed a final amendment to the Agreement Suspending the Antidumping Investigation on Uranium from the Russian Federation, which was originally signed in 1992. The new agreement extends the Agreement to 2040 and reduces US reliance on uranium from Russia. The share of Russian uranium imports, which is currently limited to 20% of US enrichment demand, will decrease to 17% over the next 20 years and will be no higher than 15% as of 2028.
Read moreInfrastructure & Investments
Tokyo Gas, First Gen partner on the Bantangas LNG project (Philippines)
8 Oct 2020The Japanese gas utility Tokyo Gas has signed a joint cooperation agreement (JCA) with First Gen to jointly construct, operate and maintain an LNG import terminal in Batangas City (the Philippines).
Read moreThe EIB lends US$300m for an energy efficiency project in Ukraine
8 Oct 2020The European Investment Bank (EIB) has signed a €300m loan with the Ministry of Communities and Territories Development of Ukraine to finance a public buildings energy efficiency project. The project will increase energy efficiency in some 1,000 buildings (mainly kindergartens, hospitals and schools), save more than 1.2 Mt of CO2 and benefit 2.5 million people.
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