Russia’s role in the European Union’s liquefied natural gas market is growing, even as the bloc weighs how to clamp down on supplies from the nation. Moscow’s share of the EU’s LNG imports climbed to 20% in the first half of the year, compared with 14% a year earlier, according …
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Turkey will need $108 billion of public and private investment as it aims to quadruple its wind and solar energy power capacity to 120,000 MW by 2035, Energy Minister Alparslan Bayraktar said on Oct. 21. Speaking at an event to announce Turkey’s roadmap in the field of renewable energy, Bayraktar …
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Saudi Aramco’s chief executive Amin Nasser has called for what he dubbed a reset in the transition plans for developing countries, citing strong projected growth in oil demand for the Global South. Developing economies are growing and living standards are rising, Nasser said today at the Singapore International Energy Week, …
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As the U.S. strives to develop stronger regional supply chains for several key components supporting the green transition, both the U.S. and Mexico are constructing large-scale microchip manufacturing facilities. The U.S. is increasingly looking to move away from its dependence on China for critical minerals and manufactured components vital to …
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The renewable energy meltdown continues as solar power company stocks tumbled on Friday morning after solar equipment maker SolarEdge Technologies warned of sliding European demand. “During the second part of the third quarter of 2023, we experienced substantial unexpected cancellations and pushouts of existing backlog from our European distributors,” said …
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Iran’s Oil Ministry is expanding its natural gas storage capacity to reach a target of 100 million cubic meters (mcm) per day of supply from storage caverns to the country’s gas grid by 2028. CEO of Iran Gas Engineering and Development Company said on Saturday that the company has been …
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On Saturday, Iraqi Electricity Minister Ziad Ali Fadel announced the signing of an agreement with Turkmenistan to secure a daily supply of 20 million cubic meters of gas. In a statement, Fadel emphasized that this influx of gas will play a remarkable role in enhancing the country’s electricity infrastructure, saying, …
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China’s solar sector is set to break records in the coming years . When installed capacity crosses the 500 gigawatts (GW) mark by the end of 2023, it will have taken 13 years to reach that milestone. That total, however, will be doubled to 1 terawatt (TW) in just three …
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India is positioning itself for a petrochemical boom, with $87 billion expected over the next decade to meet surging demand. As more of its citizens rise into the middle class, the need for petrochemical-based products—from plastics to fertilizers—is set to soar. According to India’s oil minister, Hardeep Singh Puri, this …
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BP is considering a potential sale of a minority stake in its offshore wind business in a move to reduce spending on project developments in the sector, anonymous sources have told Reuters. Currently, BP doesn’t operate offshore wind farms, but it had a pipeline of offshore wind developments worth 9.6 …
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