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Transition

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Illustration; Source: The International Renewable Energy Agency (IRENA)

Transition

IRENA: Tripling renewables by 2030 requires higher annual growth rate

IRENA has released Renewable Energy Statistics 2024 which claims that despite renewables becoming the fastest-growing source of power, the world risks missing the tripling renewables target pledged at COP28.

about 2 years ago

Transition

BP, Shell, TotalEnergies and Mitsui take stakes in ADNOC’s huge LNG project

Abu Dhabi National Oil Company (ADNOC) has signed agreements with industry majors BP, Mitsui & Co., Shell and TotalEnergies under which each will take a 10% equity stake in what will be the first liquefied natural gas (LNG) export facility in the Middle East and North Africa (MENA) region to run on

about 2 years ago

Illustration; Source: International Energy Agency (IEA)

Transition

Green shift in 2024: Fossil fuels to top $1 trillion but lion’s share of energy investment going to clean power

Clean energy technologies and infrastructure are poised to hit $2 trillion in 2024, which is double the amount going to coal, oil, and gas.

about 2 years ago

Transition

Shipbuilding giants rake in $2.5 billion from UAE player’s LNG fleet expansion rush

ADNOC L&S has gone on a spending spree to bolster its liquified natural gas (LNG) carriers’ arsenal with multiple newbuild vessels.

about 2 years ago

Transition

Flurry of green hydrogen and ammonia deals underpins EU-Egypt partnership

The Egyptian government and the EU are advancing green hydrogen and green ammonia incentives through new private investment agreements.

about 2 years ago

FPSO Energean Power works at the Karish field offshore Israel; Source: Energean

Transition

Energean bids farewell to Egypt, Italy, and Croatia as assets fetch $945 million

Energean has set the divestment of its portfolio in Egypt, Italy, and Croatia in motion for an enterprise value (EV) of up to $945 million.

about 2 years ago

Transition

DNV: Oil & gas witnessing confidence resurgence while energy transition price tag hampers net-zero aspirations

A new survey from DNV pinpoints the cost of the energy transition as the biggest barrier to meeting the net zero targets.

about 2 years ago

Transition

Global LNG markets facing oversupply while key importing regions work on curbing demand

The new wave of LNG supply is set to flood the market amid demand uncertainty, according to the Institute for Energy Economics and Financial Analysis (IEEFA).

about 2 years ago

Transition

Go-ahead for ADNOC’s huge LNG project prompts $5.5 billion deal for its development

ADNOC has made a final investment decision (FID) for its giant liquefied natural gas (LNG) project, which is envisioned as a lower-carbon intensity development.

about 2 years ago

Illustration; Source: ADNOC Logistics and Services

Transition

Twofold increase in LNG vessel orders playing out against the backdrop of elevated newbuilding prices

The number of LNG newbuilding values is perceived to be at a record high with twice as many newbuild orders in 2024 as there were last year.

about 2 years ago

Hywind Tampen floating wind farm and Snorre platform; Source: Equinor

Transition

Energy transition needs to pick up the pace to counter uncertainty over net zero targets

Equinor has highlighted that the speed and scale of the energy transition have to increase to reach the 1.5-degree ambition by 2050.

about 2 years ago

North Field East (NFE) LNG expansion project will raise Qatar’s LNG export capacity from the current 77 mtpa to 110 mtpa; Source: QatarEnergy

Transition

New partner comes aboard $28.75 billion first expansion phase of world’s biggest single non-associated gas field

While sealing a multi-year LNG supply deal, QatarEnergy has welcomed a new partner at its giant North Field East (NFE) project, which represents Phase 1 of the larger North Field expansion project.

about 2 years ago

Rendering of Woodfibre LNG project; Source: Woodfibre LNG

Transition

Bankrolling fossil fuels: 60 giant banks pick up the $7 trillion tab for coal, oil & gas

Report: Over 60 international banks have been keeping the fossil fuel players in business by footing the bill for their further expansion rather than cutting off the purse strings.

about 2 years ago

Ministers from Qatar, the United States, the United Arab Emirates, Saudi Arabia, Canada, and Norway at Net Zero Producers Forum; Source: QatarEnergy

Transition

Net-Zero Producers Forum seeks emission reduction pathways with carbon utilization and storage

The Net Zero Producers Forum has set in motion a new working group to explore and step up technologies for the utilization and storage of carbon dioxide.

about 2 years ago