Latest Energy News
Policy & Regulatory
Indonesia plans to inject US$2.4bn in PT PLN and US$3bn in Pertamina
19 May 2020The Indonesian government is planning to provide IRD128,000bn (US$8.6bn) for 12 state-owned companies, including a cash compensation of IRD35,000bn (US$2.4bn) to state-owned electric utility PT Perusahaan Listrik Negara (PT PLN) in 2020 and IRD44,000bn (US$3bn) paid in instalments over 2020-2022 to national oil & gas company Pertamina. The sales of both companies declined in the wake of the ongoing lockdown due to the coronavirus epidemic.
Read moreLithuania plans to create a 700 MW offshore wind zone by 2030
18 May 2020The Lithuanian government has launched a public consultation on a decree to create a 700 MW offshore wind project, which would be located in a 137 square kilometres area 29 km from shore in Baltic Sea. The 700 MW offshore wind zone is expected to produce 2.5-3 TWh of electricity per year, which is 25% the country’s current electricity demand. The country is currently preparing legislation regulation a support scheme for wind in coordination with the European Commission.
Companies
Total acquires EDP’s power and gas assets in Spain
19 May 2020Total has acquired assets of Energías de Portugal (EDP) in Spain for €515m, including 2.5 million B2C customers and two gas-fired combined cycle power plants, with a total capacity of 850 MW.
Read moreSouth Africa’s Eskom intends to delay the closure of 3 coal-fired plants to 2030
18 May 2020Eskom is planning to delay the closure of the Groovtlei (1.1 GW), Camden (1.5 GW) and Hendrina (1.6 GW) coal-fired power plants to 2030. The three plants, which have a combined capacity of 4.2 GW and accounts for almost 10% of Eskom’s total capacity, were scheduled to close between 2020 and 2026. They started operations in the 1960s and 1970s.
Read moreEnergy & Climate Markets
Poland-Russia gas transit deal will end in May 2020
19 May 2020Gazprom will not renew a gas transit deal with Poland, which expires in May 2020. The contract, signed in the 1990s, is linked to 33 bcm/year Yamal pipeline that transports Russian gas from the Yamal peninsula to Poland and on to Germany. After the agreement ends, Gazprom can still book short-term transit capacity from Polish transmission system operator Gaz-System. In November 2019, PGNiG announced that it would end its 9 bcm/year gas supply contract with Gazprom.
Read moreSaudi Arabia and Kuwait will halt the Al-Khafji oilfield in June 2020
19 May 2020Saudi Arabia and Kuwait have decided to halt production from the joint Al-Khafji field in June 2020 that has produced 140,000 bbl/d in April 2020. In 2019, Kuwait and Saudi Arabia signed an agreement to end a 5-year dispute over shared resources, allowing a restart of production at the AL-Khafji and Wafra fields, which was suspended in May 2015.
Read moreTechnology
Equinor, Shell & Total will invest €630m in a CO2 storage project (Norway)
19 May 2020Equinor, Shell and Total have decided to invest NOK6.9bn (€630m) in the 1.5 MtCO2/year Northern Lights CO2 storage project in Norway. The CO2 receiving terminal will be located in Øygarden in Western Norway. Northern Lights will be tasked with CO2 transport by ships, injection and permanent storage some 2,500 metres below the seabed.
Infrastructure & Investments
APG and TRIG acquires the 396 MW Merkur offshore wind park (Germany)
19 May 2020Dutch pension investors APG and investment trust The Renewables Infrastructure Group (TRIG) have closed the acquisition of the 396 MW Merkur offshore wind park in the German North Sea from the project developer Merkur Offshore, a joint venture between Partners Group (50%), InfraRed Capital Partners (25%), DEME Concessions (12,5%) and ADEME (6.25%).
Read moreEQM still expects its US$5.4bn Mountain Valley gas pipeline for 2022 (US)
19 May 2020EQM Midstream Partners plans to complete its long-delayed 1.9 bcf/d (19.6 bcm/year) Mountain Valley gas pipeline from Wetzel County (West Virginia) to Pittsylvania County (Virginia) by end-2020. The US$5.4bn project is expected to be operational by 2022.
The US Federal Energy Regulatory Commission (FERC) conditionally endorsed the construction of the gas pipeline in October 2017. When construction started in February 2018, it was estimated the project would cost about US$3.5bn and be commissioned by end-2018.
Read moreNordex will supply turbines for the 240 MW South Kyle wind plant (UK)
19 May 2020The Nordex Group has signed a deal with Vattenfall to supply turbines for the 240 MW South Kyle wind plant in Scotland (United Kingdom) and to maintain the machines for a period of 10 years. In April 2020, Vattenfall took the final investment decision (FID) to build the 240 MW South Kyle wind project in Scotland (United Kingdom) and reached an agreement with the infrastructure fund Greencoat UK Wind, which will acquire the project for £320m (€367m) once the project is commissioned in the first quarter of 2023.
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