Tag: energy transition

The National power company of Icealnd, Landsvirkjun, the Westfjords Regional Development Office and the Westfjord Power Company signed an agreement in order to launch an energy transition and innovation project.

In order to align with the EU Green Deal objectives, the forthcoming review of the Trans European Network for Energy (TEN-E) Guidelines must recognize the central role of ports in Europe’s new energy systems, ESPO said. 

The COVID-19 pandemic and the acceleration of the energy transition are expected to have a lasting impact on global oil demand, expected to peak at 102 million barrels per day (bpd) in 2028, says Norwegian consultant Rystad Energy. Before Covid-19, it expected for peak oil demand of just over 106 million bpd in 2030.

In the main scenarios of this year's BP Energy Outlook, global energy demand continues to grow for at least part of ‎the period to 2050. However, over this time, the structure of energy demand fundamentally ‎shifts, with a declining role for fossil fuels offset by an increasing share for renewable energy ‎and a growing role for electricity. ‎Decisive policy measures, such as significant increases in carbon prices, are needed to ‎deliver a lasting reduction in emissions from energy use.‎

The behavioural and economic ramifications of COVID19 will permanently reduce global energy demand, according to DNV GL's newly published Energy Transition Outlook. Among others, the report talks about clean energy technologies, the role of financial institutions in financing the green transition and the long-term impact of COVID-19. 

Poland can achieve climate neutrality by 2056, while Sweden, Finland and Denmark lead the way in energy transition in the EU, according to baseline version of calculations of the Polish Economic Institute (PEI).

Eleven major players from the oil, gas and shipping industry, shake their hands and formed an international coalition in order to develop and accelerate the energy transition.

Following COVID-19 outbreak and the significant affects on the energy supply and demand that has brought, DNV GL claimed that the pandemic will have lasting impacts once it dissipates.

Following the DNV GL annual report for 2019 and its improved market conditions, the Norway-based company announced that is fully prepared for the '2020 decade of transformation' and the short-term challenges that brings.

DNV GL recently launched a venture fund to invest on the energy transition and the fourth industrial revolution challenges. Specifically, the Norwegian classification will build a portfolio of between 15-20 startups in the following four years, taking stakes of up to 20% in the companies.