Tag: energy transition

In order to meet its climate targets, Belgium should move beyond local renewable energy production and import solar or wind energy from countries with plenty of wind and sun. A new study by the hydrogen import coalition reveals that this is both technically and economically feasible.

On 11 February 2021, the revised UK Oil and Gas Authority (OGA) Strategy has come into force, reflecting the energy transition and featuring a range of net zero obligations on the oil and gas industry.

In an effort to enhance an environmentally-friendly recovery from the COVID-19 oubreak, South Korea unveiled a 48.5 trillion plan to develop the world’s largest wind power plant by 2030.

The International Energy Agency (IEA) informed that will produce the world’s first comprehensive roadmap for the energy sector so as to achieve net-zero emissions by 2050.

Carbon capture and storage (CCS) solutions could address about 42% of the world’s total dirty footprint, Norwegian intelligence firm Rystad Energy said in its monthly Energy Transition Report. The release came as the adaptation of renewable energy technologies is accelerating, even during the pandemic, and three contenders – carbon capture and storage (CCS), battery storage and hydrogen – have begun a competitive race to reduce emissions. After analyzing the full scope of global CO2 emissions, Rystad has concluded that CCS solutions could address about 42% of the world’s total dirty footprint, but will likely not reach its full potential, as competing hydrogen and battery societies will also target their fair share of the global pie. The core applications for CCS are within natural gas processing, power generation, hydrogen production (steam methane reforming or SMR), and industrial processes. Today, the vast majority is related to natural gas processing and hydrogen production for use in refining and fertilizer production. Not surprisingly, we find the largest CCS potential in China, India and the US, where power and combustion outweigh process emissions. The power sector, although significant, is less likely to utilize CCS than industry, as renewable energy – given the fast decline in ...

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.