Latest Energy News
Policy & Regulatory
Russia adopts the final version of its new energy strategy to 2035
11 Jun 2020The Russian government has officially adopted its new energy strategy until 2035. The new text seeks to maximise the contribution of the hydrocarbon industry and to foster the energy security of the country. The country intends to improve the efficiency, reliability, accessibility and quality of energy supply (oil products, gas and electricity), to increase LNG production with the formation of a cluster on the Yamal and Gydan peninsulas, and to develop the production and consumption of hydrogen with the objective to make Russia a global leader in the field.
Read moreCrown Estate Scotland (UK) targets 10 GW of new offshore wind capacity
11 Jun 2020Crown Estate Scotland has initiated a new round of offshore wind leasing in Scotland (United Kingdom), targeting up to 10 GW. The ScotWind leasing round intends to attract £8bn (€8.9bn) of new investments. Developers can register interest in obtaining an option agreement with Crown Estate Scotland, which could lead to leases to build offshore wind projects. Applications are requested to have an intended capacity of at least 100 MW.
Read moreNigeria delays its Petroleum Industry Bill to the end of 2020
11 Jun 2020Nigeria has delayed again its Petroleum Industry Bill (PIB) due to the coronavirus outbreak. The text, which was due to be adopted in July 2020, is now expected to be passed by the end of the year.
Read moreThe EIB may lend US$300m for an energy efficiency project in Ukraine
10 Jun 2020The European Investment Bank (EIB) and the government of Ukraine have signed an agreement to prepare the country’s Public Buildings Energy Efficiency project, which is expected to be financed by a €300m EIB loan. The project will increase energy efficiency in 1,000 buildings (mainly kindergartens, hospitals and schools), save more than 1 Mt of CO2 and benefit 2.5 million people.
Read moreCompanies
Poland’s PGNiG will invest €900m in renewables capacity
11 Jun 2020The Polish oil and gas company PGNiG (72% state-owned) will update its strategy to includes renewables energy sources. The company, which intends to become one the leading producers of energy from renewable energy sources in Poland, plans to invest PLN4bn (€900m) on this segment, with the objective to develop 900 MW of capacity.
Poland’s energy policy until 2040 targets 21-23% of renewables in final energy consumption in 2030 and 27% in electricity consumption by 2030. The development of new offshore wind and solar PV projects could amount to 30 GW by 2040.
Read moreGlenfarne acquires 8 Mt/year Magnolia LNG export terminal (US)
11 Jun 2020The US energy group Glenfarne, through its newly-created affiliate Magnolia LNG Holdings, has completed the acquisition of the Magnolia LNG export project in the Lake Charles District in Southwest Louisiana (United States). The project was previously owned by Liquefied Natural Gas Limited (LNG Ltd).
Read moreTEPCO (Japan) plans to add 6-7 GW of renewable capacity by 2035
10 Jun 2020TEPCO Renewable Power, the renewable unit of the Japanese power utility Tokyo Electric Power Company (TEPCO), intends to invest JPY1,000-2,000bn (US$9.3-18.6bn) to develop 6 to 7 GW of offshore wind and hydropower capacity by 2035. The company would focus its offshore wind investments on Southeast Asia and North America and its hydropower investments on Southeast Asia. TEPCO Renewable Power operates 9.9 GW of renewable projects, and the new investments would increase its renewable capacity in the group’s total capacity from 20% to 25%.
Read moreEnergy Prices & Taxes
Egypt will raise electricity prices by 17-30% in July 2020
11 Jun 2020The Egyptian government will increase electricity prices from 17 to 30% based on consumption from 1 July 2020. The country has extended the plan to end electricity subsidies until the 2024-2025 fiscal year, as Egypt entered a new reform programme supported by the International Monetary Fund (IMF) in June 2020.
Read moreInfrastructure & Investments
Masdar will build a 500 MW wind project in Uzbekistan
11 Jun 2020The government of Uzbekistan has signed an agreement with Masdar Clean Energy (part of the United Arab Emirates’ company Mubadala) to design, finance, build and operate a 500 MW wind project in the Zarafshon district of the Navoi Region. The project will benefit from a power purchase agreement (PPA) with the National Electric Grid. Construction, which will take place in phases, is expected to begin by end-2020 and the 500 MW project should be operational in 2024.
Read moreArgentina commissions the 123 MW Los Teros wind project phase 1
11 Jun 2020Argentina’s National Electricity Regulatory Entity (Enre) has authorised the 123 MW phase of the Los Teros wind power project to supply electricity to the Wholesale Electricity Market (MEM). The power plant, which is owned by YPF Energia Electrica (YPF EE), will a total capacity of 174 MW once fully commissioned.
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