Daily Energy News
Policy & Regulatory
India maintains deadline for the privatisation of oil refiner BPCL
21 Oct 2020The Indian Department of Investment and Public Asset Management (DIPAM) has decided not to extend the date for the sale of the state-owned majority stake in the Indian oil company Bharat Petroleum Corporation Ltd (BPCL). The current deadline, which has already been extended by the government on four occasions, is 16 November 2020.
Read moreThe UK extends price cap on residential energy bills to end-2021
21 Oct 2020The British government has extended its price cap on the most common form of gas and electricity residential tariffs until the end of 2021, protecting around 11 million UK households from being overcharged. An additional 4 million households with prepayment meters on default tariffs will also come under the protection of the cap from January 2021. In October 2020, the cap level was set at £1,042 (around €1,140) for a dual fuel single rate customer paying by direct debut using a typical amount of energy in annualised terms.
Read morePoland and the United States sign a nuclear power cooperation agreement
21 Oct 2020Poland has signed a 30-year intergovernmental agreement to cooperate on the development of the country’s civil nuclear program with the United States. Over the next 18 months, the two countries will work together on a report delivering a design for implementing Poland’s nuclear power programme, as well as potential financing arrangements. Poland would buy at least US$18bn in nuclear technology from US companies. Westinghouse Electric Company will take part in a first step in the agreement, an engineering study for planned plants.
Read moreThe US will support NuScale’s 2.5 GW nuclear project in South Africa
20 Oct 2020The US International Development Finance Corporation (DFC), which was authorised by US authorities to support nuclear power projects abroad in July 2020, has signed a letter of intent (LoI) to support NuScale, a US nuclear energy technology firm, to develop 2.5 GW of nuclear capacity in South Africa. South Africa has a PWR nuclear plant with a capacity of 1 860 MW (2 x 930 MW), located in Koeberg, near Cape Town, which has been operational since 1984. If successful, NuScale would be the first nuclear independent power producer in Africa.
Read moreCompanies
JERA and Marubeni exit Port Kembla LNG import project in Australia
21 Oct 2020The Australian energy group Squadron Energy has become 100% owner of Australian Industrial Energy (AIE), which develops the Port Kembla LNG import project in New South Wales (Australia). Squadron Energy, which already held 50% in the project, has acquired the stakes of its partners, namely JERA (19.9%) and Marubeni (30.1%).
Read moreConocoPhillips buys US shale producer Concho Resources for US$9.7bn
20 Oct 2020ConocoPhillips has reached an agreement to acquire the US shale oil producer Concho Resources for US$9.7bn. The transaction brings together assets across the Delaware and Midland basins in addition to positions in the Eagle Ford and Bakken in the Lower 48 and the Montney in Canada. The merged company will have a combined resource base of 23 Gboe with an average cost of supply below US$30/bbl WTI and an average production of 1.5 mboe/d, making the new company the largest independent oil and gas company in the United States.
Read moreInfrastructure & Investments
Denmark and Germany complete the 400 MW CGS Baltic interconnector
21 Oct 2020The Danish and German power transmission system operators (TSOs) Energinet.dk and 50Hertz have completed the 400 MW Combined Grid Solution (CGS) transmission project that will enable Denmark and Germany to exchange power via offshore wind parks in the Baltic Sea. The project, which required a €300m investment, connects the Baltic 1, Baltic 2 wind parks (which total 336 MW) and, from 2021 with Kriegers Flak (600 MW), with the two countries. The interconnector, consisting of two 200 MW submarine cables, should be commissioned by the end of 2020.
Read moreKEPCO moves ahead with its 1.2 GW coal-fired power project in Vietnam
21 Oct 2020VAPCO, a Vietnamese subsidiary of the South Korean power utility Korea Power Electric Corp. (KEPCO), has signed a US$787m contract with Doosan Heavy Industries & Construction Co.to build the 1,200 MW Vung Ang 2 coal-fired power plant project in north-eastern Vietnam. Construction is expected to start in 2021 and commissioning is scheduled in 2025. Earlier in October 2020, the board of Korea Power Electric Corp.
Read moreEgypt plans to develop a 500 MW wind park with Siemens
21 Oct 2020The Egyptian government is currently negotiating with Siemens to develop a 500 MW wind power plant in the country. An agreement should be signed by end-2020. Egypt could add more than 2 GW of solar and wind capacity on the Red Sea coast and the government intends to increase the share of electricity generated from renewable sources to 60% by 2035.
Read moreAdani plans two 1 GW power transmission projects to Mumbai (India)
21 Oct 2020Adani Transmission plans to execute two power transmission projects by 2022, which will increase the transmission capacity to Mumbai (India) by 1,000 MW each. The 400/220 kV Kharghar-Vikhroli EHV transmission line project will include a 400 kV substation in Mumbai and will improve power supply with a new 1,000 MW power corridor. The company is working to expedite land acquisition at Khargar and Vikhroli to build substations and 400 kV lines and plans to execute the project by December 2022.
Read more
No Comment