IEA reduces 2030 low-emission hydrogen production forecast by almost a quarter
The International Energy Agency reported on Friday that a wave of cancellations as well as cost pressures and policy uncertainties have reduced the projected 2030 development by almost a quarter. The IEA's Global Hydrogen Review states that the IEA expects to produce 37 million metric tonnes of low-carbon fuel per year by 2030. This is down from 49 millions a year ago as developers have shelved plans or delayed them. It added that the actual output may be lower, as not all projects announced are completed. The report stated that the capacity of plants that are already in operation…
GASTECH-Japan’s Inpex considers UAE production increase, Norway expansion
Inpex, Japan's largest oil and gas exploration company, is looking at increasing production in its concessions onshore and off-shore in the United Arab Emirates as well as expanding their activities in Norway. This was announced by its chief executive and president on Tuesday. Takayuki ueda, speaking on the sidelines at the Gastech conference held in Milan, stated that this is in line the UAE's plan to increase production from 4 to 5 million barrels a day. We have assets in Norway and just recently acquired assets in the Northern Sea. We also have land to expand our operations in Norway.
GASTECH-China-Russia pipeline plans do not affect Asian demand for US LNG, according to Venture Global CEO
According to Michael Sabel of Venture Global LNG (the second largest U.S. LNG exporter), recent gas agreements between China, Russia and other countries are unlikely to affect Asian demand for U.S. LNG. China, which is the largest LNG importer in the world, signed agreements on September 2 for a boost of gas supply via the existing Power of Siberia pipe and to build Power of Siberia 2. This has raised concerns that it could reduce China's appetite to import LNG. Sabel said on the sidelines at the Gastech conference, in Milan: "Don't be distracted by the short-term impact of politics.
Singapore Central Bank secures $510 Million to support green infrastructure in Asia
Singapore's central banks announced on Monday that it had secured $510m in committed capital to be used for a fund which would support green infrastructure in Southeast Asia and South Asia. The Monetary Authority of Singapore announced that it had secured funding from a variety of regional players including Asia-focused lender HSBC, the Australian Government and Singapore's State-owned Investor Temasek. Green Investments Partnership is a fund that will support sustainable transportation, renewable energy, and storage. It's part of the Financing Asia Transition Partnership initiative, launched by Singapore's central bank in 2023. The fund is managed by Pentagreen Capital.
Document from the Politburo shows Vietnam is open to using small modules nuclear reactors
According to a document released by the Communist Party’s Politburo (the most powerful body in the country), Vietnam is open to the use of small module reactors to power its planned nuclear plants. Southeast Asia, a manufacturing hub in the region, seeks to increase its capacity for power generation to support an economy that is one of the fastest growing in the world. The document is available on the internet. It calls for a rapid development of "a flexible nuclear energy development plan with small module reactors" and encourages private companies in the nuclear industry. It is the first time Vietnam publicly announced that it would consider small modular reactors.
Sanctioned Arctic Mulan LNG Tanker Berths in China
A tanker carrying liquefied natural gas from Russia's sanctioned Arctic LNG 2 plant has moored at an import terminal in southern China on Thursday, after loading at a Russian storage facility in June, Kpler and LSEG ship-tracking data showed.If the tanker discharges the LNG at the terminal, this would be the first cargo from the Arctic LNG 2 project to be received. The project is targeted by Western sanctions over Russia's war with Ukraine.The Arctic Mulan LNG tanker was idling off the coast of Egypt from February to April before travelling through the Suez Canal…
WTO panel supports Indonesia on multiple counts in biodiesel dispute with EU
An official copy of Friday's ruling revealed that a World Trade Organization panel had sided with Indonesia in several important claims made in its complaint against countervailing duty imposed by the European Union for biodiesel imported from the country. In 2023, Indonesia filed a dispute with the WTO alleging that the EU imposed duties on biodiesel imports from Southeast Asia in violation of the rules of the body. The panel concluded that "we recommend that the European Union brings its measures in line with its obligations under SCM Agreement", referring to an agreement of the WTO on countervailing and subsidy measures.
UN calls on Australia to increase climate action
The UN climate chief called on Australia set an ambitious emissions target for 2035 and to accelerate its clean energy transformation, warning that failure to act could undermine living standards and regional stabilty. Simon Stiell said that Australia should "go big" and do what is smart. "Don't settle with what is easy. "Bog standard is beneath you", he said, at an event organized by the Smart Energy Council in Sydney. Australia is under fire for supporting new fossil fuel projects, while also attempting to co-host UN COP31 Climate Summit with the Pacific next Year.
Enphase Energy's forecast for third-quarter revenue is below expectations, and shares fall
Enphase Energy's third-quarter revenue was below Wall Street expectations on Tuesday. President Donald Trump's tariffs on imports had an impact on its gross margin. The solar inverter manufacturer's shares fell more than 7% following hours. U.S. Trade officials finalized in April steep tariffs on the majority of solar cells imported from Southeast Asia after American manufacturers complained about companies from the area flooding the market unfairly with cheap goods. Enphase and other renewable energy companies are also faced with significant uncertainty, as Trump pushes for the repeal or modification of tax credits for solar energy and wind energy projects.
Malaysia increases coal power production and imports to meet growing demand
A data analysis showed that Malaysia was boosting its coal-fired electricity output and importing fuel at record-high levels. It is taking advantage of the low prices, even though it has pledged to increase the use of gas-fuelled power generation on a longer-term basis. Southeast Asia's nation is the 5th largest exporter of liquid natural gas, but it has stated that due to dwindling reserves and rising demand for the fuel, they may start importing super-chilled fuel. The nation has gradually increased coal-fired electricity production to meet the surge in demand from data centres. In May and June, coal-fired electricity production in Peninsular Malaysia grew by nearly 9%.
Solar panel manufacturers in the US seek tariffs against imports from Indonesia and India
Documents on the website of an agency show that a group of U.S. manufacturers of solar panels asked the Commerce Department for anti-dumping and compensatory duties to be imposed on imports coming from Indonesia, India, and Laos. The petition is a latest attempt by the small U.S. Solar Manufacturing Industry to seek relief from trade restrictions to protect billions in investment and to compete with goods produced by Chinese companies abroad. First Solar, Hanwha Qcells, Talon PV and Mission Solar are all members of the Alliance for American Solar Manufacturing and Trade that filed this petition.
South Korea's trade minister could ask for an extension of the tariff freeze during US-South Korea talks
South Korea's Trade minister Yeo Han Koo said that he may request an extension to the U.S. Tariffs Freeze that expires in a few days, when he travels to Washington to meet with U.S. officials. Yeo, South Korea's newly appointed trade envoy, will fly to the U.S. this Friday. He plans to meet with U.S. Representative Jamieson Greer, and other senior officials, on Saturday. This is just before the deadline of July 9, when U.S. Tariffs may increase dramatically. Donald Trump, the president of the United States, said that his administration will begin sending letters to countries on Friday specifying which tariff rates they must pay on imports from other countries.
Official: US withdrawal from Indonesian coal phase-down program will have limited impact
Indonesia's top official in the initiative, who is also the United States' representative to the international collaboration to assist developing countries transition away from coal, said that the withdrawal will only have a minimal impact. As part of the President Donald Trump’s plan to reduce foreign aid, the U.S. resigned from the Just Energy Transformation Partnership (JETP), a group of 10 donors. A U.S. official described the partnership as "the single largest climate finance transaction", but little money was actually disbursed. Paul Butarbutar…
PTT Thailand to purchase 2 MTPA LNG from Glenfarne Alaska LNG for 20 years
Glenfarne announced late Monday that the Thai state-owned PTT Group, which is an oil and gas company, had signed an agreement with Glenfarne to purchase 2 million metric tonnes of liquefied gas annually from its Alaska LNG project for a period of 20 years. PTT stated that it would continue to study the Alaska LNG Project in order to expand its LNG businesses and improve Thai energy security. Thailand has increased its LNG imports in recent years, to meet the rising demand for electricity and decreasing domestic gas production. It has also expanded its import capacity.
EnQuest CEO: EnQuest will finalise its $84 million Vietnam oilfield purchase soon
Amjad Bseisu, CEO of UK-based EnQuest, said that the company expects to acquire Harbour Energy's Vietnam business within the next two months and will drill new wells in order to increase production. The North Sea-focused firm's expansion beyond its home market is part of this $84 million purchase. EnQuest is acquiring a little over 53% of the Chim Sao & Dua production fields located in Vietnam. Bseisu said earlier this week that he was excited about the asset because he saw development and infill opportunities. Once we take control, we will invest in the field to try to increase its productivity.
Energy companies race to Southeast Asia for gas to meet AI power demand
Energy companies are investing in gas exploration and production to meet the rising demand for power from a growing population and the proliferation of data centers in this region. As countries pursue different paths of energy transition, European majors are pivoting back to conventional fuels that are more profitable. Southeast Asian governments also want to increase the affordability of local gas to improve economic growth and energy security. Anwar Ibrahim, Malaysia's Prime Minister, said that Shell had committed to increase its investment in Malaysia to 9 billion ringgit (2.12 billion dollars) in the next two or three years at the Energy Asia Conference in Kuala Lumpur.
Petronas CEO: Company is planning to import LNG within 4-5 years
The chief executive of Malaysian state-owned energy company Petroliam Nasional said that the firm is preparing to face a scenario where the country, which is currently a major LNG exporter in the world, begins to import super-chilled fuel. Tengku Muhammad Taufik, the Chief Executive of Petronas, said that they plan to import LNG within four to five year. He made this statement at a conference press briefing. The domestic gas demand in Southeast Asia is expected to rise. Tengku Taufik said that Petronas was also working on getting a third regasification facility up and running in Malaysia. He did not say when this would happen.
Malaysia PM pledges $10 billion for national grid upgrade
Anwar Ibrahim, Malaysia's Prime Minister, said that Tenaga Nasional had committed to upgrading the national grid infrastructure with 43 billion ringgit (about $10 billion). Anwar, who opened the Energy Asia Conference, said that the grid upgrade will help the country achieve its ambitions in artificial Intelligence and battery energy storage system. Anwar also said that he plans to build three carbon-capture storage facilities offshore to serve the oil and gas industry as well as other industries. He said Malaysian CCS efforts include more than ten international partners, including those from Japan and South Korea as well as energy companies such as TotalEnergies or Shell.
The vote of the US Trade Panel opens the door to imposing stiff tariffs on solar imports
The U.S. International Trade Commission decided on Tuesday that a flood cheap imports from Southeast Asian countries threatened or materially damaged domestic solar panel manufacturers. This decision brings the United States closer to imposing heavy duties on these goods. The three-member ITC voted "yes", meaning that the Commerce Department would issue orders to enforce anti-dumping and countervailing tariffs on solar panels imported from Malaysia. Thailand, Cambodia, and Vietnam. This was a decision the agency made last month. This vote settles a trade dispute that lasted a year…
Equinor's executive states that Europe needs to compete on prices for gas refilling.
A senior Equinor executive said that Europe might need to continue offering attractive prices in order to secure the additional 30 billion cubic meters (bcm), of liquefied gas (LNG), needed to replenish their storage levels. Equinor estimated that Europe would require around 250-300 additional LNG cargoes in comparison to last year, to fill storage tanks that were left empty by two-thirds after the winter. This would result in a tight gas market. Peder Bjorland said that securing such volumes would be possible if Europe offered prices competitive with China and other Asian customers. Bjorland stated that China is returning and can be competitive.