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NewBase Energy News 24 February 2023 No. 1596 Senior Editor Eng. Khaed Al Awadi
NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
U.A.E’s Minister says Paris Agreement goal of 1.5°C is ‘non-negotiable’
The National + NewBase
Dr Sultan Al Jaber, Cop28 President-designate and the UAE's special envoy on climate change,
says the Paris Agreement’s goal of limiting global warming to 1.5°C above pre-industrial levels is
“non-negotiable”
Dr Al Jaber, speaking at the World Sustainable Development Summit in New Delhi on Wednesday,
called for a “paradigm shift” in the global approach to climate change mitigation, adaptation, finance,
and loss and damage.
UAE Cop28 President-designate says India’s sustainable development is critical for the whole world
“It is also clear that business as usual won’t get us there,” he said. Dr Al Jaber, who is also the
UAE's Minister of Industry and Advanced Technology, said India’s sustainable development would
be “critical” for the whole world.
India, which aims to become net-zero by 2070, plans to produce 500 gigawatts of non-fossil fuel
capacity by 2030. The country, Asia's third-largest economy, also plans to produce 5 million tonnes
of green hydrogen a year by 2030, with the potential to reach 10 million tonnes as export markets
grow.
ww.linkedin.com/in/khaled-al-awadi-80201019/
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“India’s goal of adding 500 gigawatts of clean energy in the next seven years is a powerful statement
of intent. And, as one of the largest investors in renewables, the UAE will explore all opportunities
for partnership with India to contribute to its high growth, low carbon pathway,” said Dr Al Jaber.
Dr Al Jaber held meetings with several officials in India to discuss action on climate change. The
UAE’s climate envoy also emphasised the need to mobilise resources and build partnerships. “On
mitigation, we need to rapidly build the clean energy systems of tomorrow, while making the energy
systems of today much cleaner,” said Dr Al Jaber.
“We must triple renewable energy
capacity, double hydrogen production,
expand nuclear power, improve battery
storage, scale up carbon capture and
enhance efficiency. “We need to
accelerate an energy transition that
leaves no one behind, particularly the 800
million people across the Global South
who have no access today.”
Investment in renewable energy needs to
double to more than $4 trillion by the end
of the decade to meet net-zero emissions
targets by 2050, the International Energy
Agency said in its World Energy Outlook last year.
The IEA’s stated policies scenario (Steps), which is based on the latest policy settings worldwide,
expects clean energy investment to rise to slightly more than $2 trillion by 2030.
“We need to transform food systems that account for one third of global emissions, embrace agri-
tech to feed a growing planet on a limited carbon budget, and enhance water use so that everyone
on this planet has access to safe drinking water,” said Dr Al Jaber.
He stressed the importance of “accessible and affordable” capital in ensuring climate progress and
said “trillions, not billions” would be required. “A key enabler will be the reform of the international
financial institutions and multilateral development banks,” said Dr Al Jaber.
“We must mobilise much more concessional finance to unlock more private sector capital and target
investments where they are needed most. As such, scaling and accelerating climate finance will be
one of the key goals of the Cop28 presidency, and we will rally all relevant parties in an effort to get
it done.”
The Arab country, which is Opec’s third-largest oil producer, is pursuing goals to reduce its carbon
footprint and aims to achieve net-zero emissions by 2050. The Emirates plans to invest $160 billion
in clean and renewable energy sources over the next three decades.
It is building the Mohammed bin Rashid Solar Park in Dubai with a five-gigawatt capacity. Abu
Dhabi, which is developing a two-gigawatt solar plant in its Al Dhafra region, has set a target of 5.6
gigawatts of solar PV capacity by 2026.
“The UAE takes on the role of Cop28 with humility, a deep sense of responsibility and great sense
of urgency,” said Dr Al Jaber.
“Let’s ensure that progress is truly inclusive, that no one is left behind. Let’s keep 1.5 alive, while
putting an end to energy and water poverty. Let’s unite around climate action that carries humanity
forward. And let’s prove that you can be pro-climate and pro-growth at the same time.”
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Iraq: Crescent Petroleum signs three contracts to develop oil &
gas fields in Diyala, Basra.. (WAM)
Crescent Petroleum, the Middle East's oldest privately-owned upstream oil and gas company, has
signed three twenty-year agreements with Iraq's Ministry of Oil to appraise, develop, and produce
oil and gas from two blocks in Diyala governorate and one in Basra governorate.
The agreements will deliver much needed natural gas to fuel nearby power plants and improve
government services, creating thousands of new jobs in Diyala and Basra. The contracts follow
Crescent Petroleum’s successful award in the Oil Ministry’s Fifth Bid Round.
Crescent Petroleum will develop the Gilabat-Qumar and Khashim Ahmer-Injana fields in Diyala
Province, to initially produce 250 million standard cubic feet per day (MMscfd) of natural gas. A third
exploration block, the Khider Al-Mai block in Basra province, will be explored and developed to add
further supplies of oil and gas.
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The contracts were signed at a ceremony today held at the Oil Ministry in Baghdad attended by
Iraqi Prime Minister Mohammed Shia Al-Sudani and Deputy Prime Minister for Energy Affairs and
Minister of Oil, Hayan Abdul Ghani, as well as Crescent Group Chairman Hamid Jafar, and Crescent
Petroleum CEO Majid Jafar.
They were signed by Abdulla Al Qadi, Crescent Petroleum Executive Director of Exploration and
Production, along with Midland Oil Company Director-General Qadouri Abed Salim, and Basra Oil
Company Director-General Basim Abdulkarim.First gas from the Diyala operations is expected
within 18 months to supply nearby power plants. The company will build a processing plant on site
as well as pipelines and infrastructure to supply gas.
Crescent Petroleum is committed to achieving 90 percent local employment at its operations and
will lead a variety of social performance projects to deliver training and capacity building, education,
and social services support to benefit the residents of Diyala and Basra provinces.
Abdulla Al Qadi, Executive Director of Exploration and Production at Crescent Petroleum said, “We
are pleased to commence this long-term partnership with the Government of Iraq. Our new planned
investments and operations will create thousands of new jobs and support the local and national
economy. Gas and oil supplies from these operations will help improve services and local economic
development for the people of Iraq.”
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Tanzania approves $3.5bln 1,443 Km pipeline project
Zawya + NewBase
The 1,443-kilometre (900-mile) pipeline will transport crude from vast oilfields being developed in
Lake Albert in northwestern Uganda to a Tanzanian port on the Indian Ocean
Tanzania's government gave its approval on Tuesday for the construction of a $3.5 billion crude oil
pipeline, part of a controversial mega-project that has raised concerns over human rights and the
environment.
The 1,443-kilometre (900-mile) pipeline will transport crude from vast oilfields being developed in
Lake Albert in northwestern Uganda to a Tanzanian port on the Indian Ocean. The pipeline required
approval from both countries, and last month
Uganda issued a licence to the project operator, the
East African Crude Oil Pipeline (EACOP).
"This construction approval marks another step
forward to EACOP as it allows commencement of
the main construction activities in Tanzania, upon
completion of the ongoing land access process,"
EACOP Tanzania general manager Wendy Brown
said at a function to receive the approval certificate.
The $10 billion oilfields and pipeline project has run
into strong opposition from rights campaigners and
environmental groups that say it threatens the
region's fragile ecosystem and the livelihoods of
tens of thousands of people.
It is being jointly developed by the China National Offshore Oil Corporation (CNOOC) and France's
TotalEnergies, along with the state-owned Uganda National Oil Company.
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China’s Domestic policy and geopolitics reduced refinery activity in 2022
https://www.eia.gov/todayinenergy/detail.php?id=55579
In 2022, refiners in China processed less crude oil than they did in 2021, which was the first year-
over-year decrease in processing according to data going back to 2000. Reduced refinery activity
in China resulted from numerous factors, including mobility restrictions related to the COVID-19
pandemic and low petroleum product export quotas.
According to China’s General Administration of Customs, refiners in China processed an average
of 13.5 million barrels per day (b/d) of crude oil last year, a 4% decrease from 2021’s record high of
14.0 million b/d. The 2022 reduction in crude oil processing was greatest from April through August,
when refiners in China processed an average of only 12.5 million b/d.
Data source: China’s National Bureau of Statistics’ Energy Statistical Yearbook for years 2000–
2010; China General Administration of Customs, as compiled by Bloomberg, L.P., 2011–2022
In 2022, refiners in China processed more crude oil early in the year and late in the year. In July,
refiners processed the least crude oil (11.3 million b/d) since January 2018.
Refining in China reached its monthly record high of 15.1 million b/d in September 2022 before
declining slightly and then rising to more than 14.0 million b/d in November and December.
Less domestic demand for crude oil reduced refining activities in China last year. Demand for
petroleum products in China declined in response to COVID-19 outbreaks and related mobility
restrictions in major cities, including Shanghai. These restrictions significantly slowed China’s
economic activity.
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Lower petroleum product export quotas also reduced refining activities in China last year. China
sets several fuel export quotas every year, allocating a fixed amount of exports to a few, mostly
state-owned, refiners.
China began issuing lower export quotas around the second half of 2021, and the low export quotas
continued through most of 2022. The quotas kept China’s petroleum product exports below 1.5
million b/d between July 2021 and August 2022, subduing refinery demand.
Crude oil processing hit a record high in September, most likely because refiners expected China
to issue new petroleum product export quotas to promote economic growth, which it did on
September 30.
China’s petroleum product exports also increased sharply in September, possibly because the
expectation of new quotas prompted refiners to use up their existing export quota allocations. Once
the new export quotas were in place, refinery activity rose significantly during the fourth quarter.
The increase in China’s refinery activity at the end of the year was partially due to increased exports,
which averaged 1.7 million b/d from September through December, up an average 0.6 million b/d
from the first eight months of the year.
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U.S. hydropower generation rose 13% last year in western area
U.S. Energy Information Administration, Electricity Data Browser
After decreasing to a 20-year low for the 2020–21 water year, hydropower production in the
western United States increased slightly during last year’s water year, rising 13% to reach 161
million megawatt hours (MWh).
Western hydro generation can vary significantly from year to year because it follows rain and
snowpack patterns.
Note: The water year runs from October 1 to September 30.
A water year covers the 12-month period from October 1 through September 30. The water year
follows the water cycle; precipitation in the fall or early winter does not affect stream and river flows
until the following spring and summer.
The western United States—Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah,
Wyoming, California, Oregon, and Washington—produced 61% of the country’s hydroelectricity last
water year (2021–22).
Increases in hydropower generation in the region’s three largest hydropower-producing states—
Washington, Oregon, and California—drove last year’s rise in western hydroelectric generation.
Combined, these states made up 82% of western hydropower generation in the 2021–22 water
year.
Data from the Northwest River Forecast Center and the California Department of Water
Resources show that increased precipitation in the 2021–22 water year fueled the increased
hydropower generation in these states.
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Washington’s Grand Coulee Dam, the largest hydropower plant in the country, generated 21.5
million MWh of electricity during the 2021–22 water year, 19% more than it did in the previous water
year.
Data source: U.S. Energy Information Administration, Electricity Data Browser
Although hydropower generation in some western states, including Montana, Idaho, and Colorado,
was relatively unchanged, well-below-normal flow rates in the Lower Colorado River reduced
hydropower generation in Arizona and Nevada.
The Hoover Dam, located on the Arizona-Nevada border, is the largest hydropower plant in the
Lower Colorado River Basin. It has 17 main turbines; 9 turbines on the Arizona side and 8 turbines
on the Nevada side. In the 2021–22 water year, the Hoover Dam generated 10% less electricity
than it did in the previous water year because the water level of the dam’s reservoir continued to
decline during a historic drought.
From December 2022 to January 2023, a series of atmospheric rivers drenched parts of the western
United States, especially California, with large amounts of rain and snow. The snowfall helped
establish significant snowpack at high elevations and somewhat replenished reservoirs after years
of drought. Although it’s too early to tell, the excessive rainfall in California may have improved the
prospects for hydropower production in the state this summer.
We forecast hydropower generation for electricity market regions, rather than at the state level, in
our Short-Term Energy Outlook (STEO). In our latest STEO, we forecast that total hydropower
production in the western market region (California, Southwest, plus Northwest and Rockies) in the
2022–23 water year will decline slightly, by 4%, from the last water year.
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NewBase February 24 -2023 Khaled Al Awadi
NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
Oil gains as Russian supply cuts temper concerns over rate hikes, high stocks
Reuters + NewBase
Oil prices extended gains for a second session on Friday as the prospect of lower exports from
Russia offset rising inventories in the United States.
Brent crude futures rose 61 cents, or 0.74%, to $82.82 per barrel by 0715 GMT. West Texas
Intermediate crude futures (WTI) rose 57 cents, or 0.76%, to $75.960 a barrel.
The benchmarks ended about 2% higher in the previous session on Russia's plans to cut oil
exports from its western ports by up to 25% in March which exceeded its announced production
cuts of 500,000 barrels per day.
"Higher-than-expected U.S. crude oil inventories continue to challenge the oil demand outlook, but
expectations for lower Russian production have an offsetting impact," said Yeap Jun Rong, a market
strategist at IG.
Oil price special
coverage
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U.S. inventories are at their highest level since May 2021.
U.S. crude stocks rose by 7.6 million barrels to about 479 million barrels in the week to Feb. 17,
data from the U.S. Energy Information Administration said.
For the week, oil prices are slightly lower, after the previous week's about 4% declines, dragged
also by concerns about rising interest rates that could strengthen the dollar.
Minutes from the latest U.S. Federal Reserve meeting indicated that a majority of officials remained
hawkish on inflation and tight labour market conditions, signalling further monetary tightening.
The prospect of further rate hikes supported the dollar index , which was set for a fourth straight
week of gains. The index is now up about 2.5% for the month.
A firm dollar makes commodities priced in the greenback more expensive for holders of other
currencies.
"The focus as we close the week will be on what happens with next inflation report, will the market
get more nervous on even more tightening from the Fed," OANDA analyst Edward Moya said.
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There’s a Cleaner Way to Heat Your Home, and It’s Not Hydrogen
Bloomberg - Lara Williams
Hydrogen is one of the most abundant gases, estimated to make up 75% of the mass of the
universe. It also has great potential to help the world slash greenhouse gas emissions, since it
doesn’t produce any carbon dioxide (CO2) emissions when it’s burned for energy. Yet its use has
been limited thus far.
That’s set to change in the UK over the next couple of years.
Under proposed plans drawn up by National Gas, which owns and operates the UK’s 7,630-
kilometer (4,760-mile) natural gas transmission network, between 2% and 5% of the fuel running
through the pipelines could be hydrogen by 2025. The plans have not yet been approved by the
government.
But other countries, including Norway, are also exploring hydrogen blending. Considering 77% of
Britain’s gas imports come from Norway, it’ll need to be ready to receive blended gas.
The idea is being sold as a step toward decarbonizing natural gas (which is mostly methane with
small amounts of other hydrocarbons), which still heats 78% of homes in the UK. But don’t mistake
this as a way of cutting emissions significantly. Even taking the hydrogen share up to 20% would
only result in a 7% reduction in carbon emissions, at best. The savings of a 2%-5% hydrogen blend
would be miniscule.
Instead, think of blending as one step along the UK’s plan to build a “hydrogen backbone”: a
reinvention of the country’s gas network for a net zero age. But it’ll need to start making priorities
about what hydrogen should power long-term. It makes more sense to use 100% hydrogen in some
areas — heavy industry, for example — but not in others, such as our homes. More on this later.
First, an explanation of what a hydrogen backbone might look like. Clean hydrogen has great
potential to power hard-to-abate sectors such as heavy industry, shipping and aviation.
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Hydrogen can be stored for long periods without losing energy so it could also improve resilience of
the electricity grid by being a backup fuel during times when the sun isn’t shining and the wind isn’t
blowing. The UK’s hydrogen backbone would repurpose up to 2,000 kilometers of gas pipelines to
transport clean hydrogen to industrial clusters across the country.
Hydrogen Demand
The biggest use cases for hydrogen are in the hard-to-abate sectors such as shipping and
manufacturing
Source: The Climate Change Committee's Sixth Carbon Budget,
Note: Shows projected hydrogen demand according to the Balanced Net Zero pathway
Hydrogen comes in a variety of colors depending on how it’s produced, and the best are colorful
— green is from renewable energy, pink from nuclear energy, blue from natural gas with carbon
capture. Most of the UK’s hydrogen production right now is actually gray, produced using natural
gas without carbon capture, but there is scope for cleaner stuff.
For instance, the UK spent £215 million ($258 million) in 2022 turning off wind farms during times
of low demand or due to system constraints, wasting a lot of energy potential. If production facilities
were located next to the farms, the UK could keep that renewable power on and use it to make
green hydrogen instead.
A hydrogen backbone is going to take some time to develop, of course. Pipes need retrofitting to
handle 100% hydrogen — which is more prone to leaking and needs transporting at higher
pressures — and long-term storage doesn’t really exist yet in the UK. That’s why the National Gas
plan to blend low levels of hydrogen with gas makes sense. Blending, as an early use-case, could
help boost broader demand for hydrogen and get production up and running.
But blending will be limited and temporary — eventually, we’ll have to stop using natural gas
altogether — and Britain has to get its long-term hydrogen plan right.
One area I find concerning is the discussion around using hydrogen for heating. There are a series
of trials currently being set up in the UK to explore feasibility, including a hydrogen neighborhood of
300 homes in Fife, Scotland. A decision is expected from the government in 2026 on whether to
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use hydrogen for domestic heating in the UK. But the country would do well to abandon the idea
sooner, keeping hydrogen for industrial applications and focusing on speeding up the deployment
of heat pumps for households.
The reason is simple: Hydrogen is a less economic, more resource-intensive method of heating
than alternatives such as heat pumps and solar thermal. A recent study found that using hydrogen
for heating could nearly double the cost of heating a home by the end of the decade compared with
natural gas. Sure, installing heat pumps is an eye-wateringly expensive undertaking, but so is
converting to green hydrogen, which will require every distribution pipe to be refurbished, every gas-
burning appliance to be upgraded and rigorous safety checks to be made.
Heat Pumps vs Hydrogen
Using heat pumps is nearly six times more energy-efficient than heating with green hydrogen
Source: Hydrogen Science Coalition
Note: 70GWH is the energy needed to heat Britain’s housing stock over the winter months
Michael Liebreich, founder of BloombergNEF, points out that converting every gas-heated home in
the UK to hydrogen would cost £190 billion, and even that is a “hopelessly optimistic” estimate. The
actual total could well be twice the price. A mass heat pump conversion would cost about the same
— between £182 billion and £302 billion — but it would come with cooling capabilities, much greater
efficiency and the added bonus of being deployable right now.
So by all means, let’s blend. But let’s stay focused on the big picture, too, electrifying heat as fast
as possible and building a hydrogen backbone that makes sense.
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NewBase Specual Coverage
The Energy world –February -24 -2023
CLEAN ENERGY
Global emission trading systems putting a price on pollution
Reuters - By Susanna Twidale
The price of carbon emissions permits in Europe's carbon market, the world's most established,
hit a record high over 100 euros ($107) per tonne on Tuesday. Europe’s Emissions Trading System
(ETS) is the bloc’s flagship scheme to help curb greenhouse gas emissions. Several other regions
across the globe are also using ETSs to meet climate targets.
An ETS sets a gradually decreasing cap on the emissions a sector, or group of sectors, can produce.
It creates "carbon permits" for those emissions, which companies must buy for each tonne of CO2
they emit. Some sectors are given free permits to help maintain international competitiveness.
Below are some of the major carbon emissions trading systems around the world.
BRITAIN
Britain launched a domestic ETS in 2021 after leaving the European Union scheme following Brexit.
It covers power plants, aviation and energy intensive industries. Benchmark permits trading in the
scheme currently trade around 85 pounds ($102.83) a tonne.
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CHINA
China launched a national ETS in 2021 covering the power sector, which accounts for around 40%
of the country’s total emissions. It is expected to expand to other carbon-intensive sectors, including
steel and construction, in the next phase. Permits in the scheme currently trade around 57 yuan ($8.29).
EUAs are the main currency in the European Union's Emissions
Trading System (ETS) that forces manufacturers, power
companies and airlines to pay for each tonne of carbon dioxide
they emit as part of the bloc's efforts to meet its climate targets.
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EUROPEAN UNION
The EU's ETS, which started 18 years ago, is mandatory for all 27 EU members, plus Iceland,
Liechtenstein and Norway, covering power plants, aviation and energy intensive industries. It covers
around 40% of the bloc’s emissions. Permits hit a record high over 100 euros ($106.66) per tonne
on Tuesday.
NEW ZEALAND
Its ETS, which began in 2008, covers electricity generators, manufacturers of liquid fossil fuels
including petrol and diesel. Some forest owners are given free permits, others can voluntarily join
the scheme. Prices currently trade around NZ$ 70 ($43.64).
U.S. RGGI
The United States' Regional Greenhouse Gas Initiative (RGGI) covers several states including
Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, Rhode
Island, and Vermont.
Pennsylvania and Virginia have also joined RGGI although Virginia's Republican governor has said
he wants to withdraw the state from the carbon trading programme. RGGI covers emissions from
the power sector. Permits in the scheme are currently trading around $13.
SOUTH KOREA
Its ETS started in 2015. It covers around 70% of the country’s economy including the power sector,
industry and domestic aviation. Permits in the scheme are currently trading around 13,000 Korean
Won ($9.99).
WCI
The Western Climate Initiative (WCI) covers California, Washington, Quebec and Nova Scotia in
Canada and includes electricity generators and large industrials. Permits are currently trading
around $27.
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NewBase Energy News 24 February 2023 - Issue No. 1596 call on +971504822502, UAE
The Editor:” Khaled Al Awadi” Your partner in Energy Services
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Mobile: +971504822502
khdmohd@hawkenergy.net or khdmohd@hotmail.com
Khaled Al Awadi is a UAE National with over 30 years of experience in the Oil & Gas
sector. Has Mechanical Engineering BSc. & MSc. Degrees from leading U.S.
Universities. Currently working as self leading external Energy consultant for the
GCC area via many leading Energy Services companies. Khaled is the Founder of
the NewBase Energy news articles issues, Khaled is an international consultant,
advisor, ecopreneur and journalist with expertise in Gas & Oil pipeline Networks,
waste management, waste-to-energy, renewable energy, environment protection
and sustainable development. His geographical areas of focus include Middle East,
Africa and Asia. Khaled has successfully accomplished a wide range of projects in
the areas of Gas & Oil with extensive works on Gas Pipeline Network Facilities & gas
compressor stations. Executed projects in the designing & constructing of gas pipelines, gas metering &
regulating stations and in the engineering of gas/oil supply routes.
Has drafted & finalized many contracts/agreements in products sale, transportation, operation &
maintenance agreements. Along with many MOUs & JVs for organizations & governments authorities.
Currently dealing for biomass energy, biogas, waste-to-energy, recycling and waste management. He has
participated in numerous conferences and workshops as chairman, session chair, keynote speaker and
panelist.
Khaled is the Editor-in-Chief of NewBase Energy News and is a professional environmental writer with over
1400 popular articles to his credit. He is proactively engaged in creating mass awareness on renewable
energy, waste management, plant Automation IA and environmental sustainability in different parts of the
world. Khaled has become a reference for many of the Oil & Gas Conferences and for many Energy program
broadcasted internationally, via GCC leading satellite Channels. Khaled can be reached at any time, see
contact details above.
Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 19
Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 20
Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 21

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NewBase 24-February-2023 Energy News issue - 1596 by Khaled Al Awadi_compressed.pdf

  • 1. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 1 NewBase Energy News 24 February 2023 No. 1596 Senior Editor Eng. Khaed Al Awadi NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE U.A.E’s Minister says Paris Agreement goal of 1.5°C is ‘non-negotiable’ The National + NewBase Dr Sultan Al Jaber, Cop28 President-designate and the UAE's special envoy on climate change, says the Paris Agreement’s goal of limiting global warming to 1.5°C above pre-industrial levels is “non-negotiable” Dr Al Jaber, speaking at the World Sustainable Development Summit in New Delhi on Wednesday, called for a “paradigm shift” in the global approach to climate change mitigation, adaptation, finance, and loss and damage. UAE Cop28 President-designate says India’s sustainable development is critical for the whole world “It is also clear that business as usual won’t get us there,” he said. Dr Al Jaber, who is also the UAE's Minister of Industry and Advanced Technology, said India’s sustainable development would be “critical” for the whole world. India, which aims to become net-zero by 2070, plans to produce 500 gigawatts of non-fossil fuel capacity by 2030. The country, Asia's third-largest economy, also plans to produce 5 million tonnes of green hydrogen a year by 2030, with the potential to reach 10 million tonnes as export markets grow. ww.linkedin.com/in/khaled-al-awadi-80201019/
  • 2. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 2 “India’s goal of adding 500 gigawatts of clean energy in the next seven years is a powerful statement of intent. And, as one of the largest investors in renewables, the UAE will explore all opportunities for partnership with India to contribute to its high growth, low carbon pathway,” said Dr Al Jaber. Dr Al Jaber held meetings with several officials in India to discuss action on climate change. The UAE’s climate envoy also emphasised the need to mobilise resources and build partnerships. “On mitigation, we need to rapidly build the clean energy systems of tomorrow, while making the energy systems of today much cleaner,” said Dr Al Jaber. “We must triple renewable energy capacity, double hydrogen production, expand nuclear power, improve battery storage, scale up carbon capture and enhance efficiency. “We need to accelerate an energy transition that leaves no one behind, particularly the 800 million people across the Global South who have no access today.” Investment in renewable energy needs to double to more than $4 trillion by the end of the decade to meet net-zero emissions targets by 2050, the International Energy Agency said in its World Energy Outlook last year. The IEA’s stated policies scenario (Steps), which is based on the latest policy settings worldwide, expects clean energy investment to rise to slightly more than $2 trillion by 2030. “We need to transform food systems that account for one third of global emissions, embrace agri- tech to feed a growing planet on a limited carbon budget, and enhance water use so that everyone on this planet has access to safe drinking water,” said Dr Al Jaber. He stressed the importance of “accessible and affordable” capital in ensuring climate progress and said “trillions, not billions” would be required. “A key enabler will be the reform of the international financial institutions and multilateral development banks,” said Dr Al Jaber. “We must mobilise much more concessional finance to unlock more private sector capital and target investments where they are needed most. As such, scaling and accelerating climate finance will be one of the key goals of the Cop28 presidency, and we will rally all relevant parties in an effort to get it done.” The Arab country, which is Opec’s third-largest oil producer, is pursuing goals to reduce its carbon footprint and aims to achieve net-zero emissions by 2050. The Emirates plans to invest $160 billion in clean and renewable energy sources over the next three decades. It is building the Mohammed bin Rashid Solar Park in Dubai with a five-gigawatt capacity. Abu Dhabi, which is developing a two-gigawatt solar plant in its Al Dhafra region, has set a target of 5.6 gigawatts of solar PV capacity by 2026. “The UAE takes on the role of Cop28 with humility, a deep sense of responsibility and great sense of urgency,” said Dr Al Jaber. “Let’s ensure that progress is truly inclusive, that no one is left behind. Let’s keep 1.5 alive, while putting an end to energy and water poverty. Let’s unite around climate action that carries humanity forward. And let’s prove that you can be pro-climate and pro-growth at the same time.”
  • 3. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 3 Iraq: Crescent Petroleum signs three contracts to develop oil & gas fields in Diyala, Basra.. (WAM) Crescent Petroleum, the Middle East's oldest privately-owned upstream oil and gas company, has signed three twenty-year agreements with Iraq's Ministry of Oil to appraise, develop, and produce oil and gas from two blocks in Diyala governorate and one in Basra governorate. The agreements will deliver much needed natural gas to fuel nearby power plants and improve government services, creating thousands of new jobs in Diyala and Basra. The contracts follow Crescent Petroleum’s successful award in the Oil Ministry’s Fifth Bid Round. Crescent Petroleum will develop the Gilabat-Qumar and Khashim Ahmer-Injana fields in Diyala Province, to initially produce 250 million standard cubic feet per day (MMscfd) of natural gas. A third exploration block, the Khider Al-Mai block in Basra province, will be explored and developed to add further supplies of oil and gas.
  • 4. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 4 The contracts were signed at a ceremony today held at the Oil Ministry in Baghdad attended by Iraqi Prime Minister Mohammed Shia Al-Sudani and Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, as well as Crescent Group Chairman Hamid Jafar, and Crescent Petroleum CEO Majid Jafar. They were signed by Abdulla Al Qadi, Crescent Petroleum Executive Director of Exploration and Production, along with Midland Oil Company Director-General Qadouri Abed Salim, and Basra Oil Company Director-General Basim Abdulkarim.First gas from the Diyala operations is expected within 18 months to supply nearby power plants. The company will build a processing plant on site as well as pipelines and infrastructure to supply gas. Crescent Petroleum is committed to achieving 90 percent local employment at its operations and will lead a variety of social performance projects to deliver training and capacity building, education, and social services support to benefit the residents of Diyala and Basra provinces. Abdulla Al Qadi, Executive Director of Exploration and Production at Crescent Petroleum said, “We are pleased to commence this long-term partnership with the Government of Iraq. Our new planned investments and operations will create thousands of new jobs and support the local and national economy. Gas and oil supplies from these operations will help improve services and local economic development for the people of Iraq.”
  • 5. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 5 Tanzania approves $3.5bln 1,443 Km pipeline project Zawya + NewBase The 1,443-kilometre (900-mile) pipeline will transport crude from vast oilfields being developed in Lake Albert in northwestern Uganda to a Tanzanian port on the Indian Ocean Tanzania's government gave its approval on Tuesday for the construction of a $3.5 billion crude oil pipeline, part of a controversial mega-project that has raised concerns over human rights and the environment. The 1,443-kilometre (900-mile) pipeline will transport crude from vast oilfields being developed in Lake Albert in northwestern Uganda to a Tanzanian port on the Indian Ocean. The pipeline required approval from both countries, and last month Uganda issued a licence to the project operator, the East African Crude Oil Pipeline (EACOP). "This construction approval marks another step forward to EACOP as it allows commencement of the main construction activities in Tanzania, upon completion of the ongoing land access process," EACOP Tanzania general manager Wendy Brown said at a function to receive the approval certificate. The $10 billion oilfields and pipeline project has run into strong opposition from rights campaigners and environmental groups that say it threatens the region's fragile ecosystem and the livelihoods of tens of thousands of people. It is being jointly developed by the China National Offshore Oil Corporation (CNOOC) and France's TotalEnergies, along with the state-owned Uganda National Oil Company.
  • 6. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 6 China’s Domestic policy and geopolitics reduced refinery activity in 2022 https://www.eia.gov/todayinenergy/detail.php?id=55579 In 2022, refiners in China processed less crude oil than they did in 2021, which was the first year- over-year decrease in processing according to data going back to 2000. Reduced refinery activity in China resulted from numerous factors, including mobility restrictions related to the COVID-19 pandemic and low petroleum product export quotas. According to China’s General Administration of Customs, refiners in China processed an average of 13.5 million barrels per day (b/d) of crude oil last year, a 4% decrease from 2021’s record high of 14.0 million b/d. The 2022 reduction in crude oil processing was greatest from April through August, when refiners in China processed an average of only 12.5 million b/d. Data source: China’s National Bureau of Statistics’ Energy Statistical Yearbook for years 2000– 2010; China General Administration of Customs, as compiled by Bloomberg, L.P., 2011–2022 In 2022, refiners in China processed more crude oil early in the year and late in the year. In July, refiners processed the least crude oil (11.3 million b/d) since January 2018. Refining in China reached its monthly record high of 15.1 million b/d in September 2022 before declining slightly and then rising to more than 14.0 million b/d in November and December. Less domestic demand for crude oil reduced refining activities in China last year. Demand for petroleum products in China declined in response to COVID-19 outbreaks and related mobility restrictions in major cities, including Shanghai. These restrictions significantly slowed China’s economic activity.
  • 7. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 7 Lower petroleum product export quotas also reduced refining activities in China last year. China sets several fuel export quotas every year, allocating a fixed amount of exports to a few, mostly state-owned, refiners. China began issuing lower export quotas around the second half of 2021, and the low export quotas continued through most of 2022. The quotas kept China’s petroleum product exports below 1.5 million b/d between July 2021 and August 2022, subduing refinery demand. Crude oil processing hit a record high in September, most likely because refiners expected China to issue new petroleum product export quotas to promote economic growth, which it did on September 30. China’s petroleum product exports also increased sharply in September, possibly because the expectation of new quotas prompted refiners to use up their existing export quota allocations. Once the new export quotas were in place, refinery activity rose significantly during the fourth quarter. The increase in China’s refinery activity at the end of the year was partially due to increased exports, which averaged 1.7 million b/d from September through December, up an average 0.6 million b/d from the first eight months of the year.
  • 8. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 8 U.S. hydropower generation rose 13% last year in western area U.S. Energy Information Administration, Electricity Data Browser After decreasing to a 20-year low for the 2020–21 water year, hydropower production in the western United States increased slightly during last year’s water year, rising 13% to reach 161 million megawatt hours (MWh). Western hydro generation can vary significantly from year to year because it follows rain and snowpack patterns. Note: The water year runs from October 1 to September 30. A water year covers the 12-month period from October 1 through September 30. The water year follows the water cycle; precipitation in the fall or early winter does not affect stream and river flows until the following spring and summer. The western United States—Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, Wyoming, California, Oregon, and Washington—produced 61% of the country’s hydroelectricity last water year (2021–22). Increases in hydropower generation in the region’s three largest hydropower-producing states— Washington, Oregon, and California—drove last year’s rise in western hydroelectric generation. Combined, these states made up 82% of western hydropower generation in the 2021–22 water year. Data from the Northwest River Forecast Center and the California Department of Water Resources show that increased precipitation in the 2021–22 water year fueled the increased hydropower generation in these states.
  • 9. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 9 Washington’s Grand Coulee Dam, the largest hydropower plant in the country, generated 21.5 million MWh of electricity during the 2021–22 water year, 19% more than it did in the previous water year. Data source: U.S. Energy Information Administration, Electricity Data Browser Although hydropower generation in some western states, including Montana, Idaho, and Colorado, was relatively unchanged, well-below-normal flow rates in the Lower Colorado River reduced hydropower generation in Arizona and Nevada. The Hoover Dam, located on the Arizona-Nevada border, is the largest hydropower plant in the Lower Colorado River Basin. It has 17 main turbines; 9 turbines on the Arizona side and 8 turbines on the Nevada side. In the 2021–22 water year, the Hoover Dam generated 10% less electricity than it did in the previous water year because the water level of the dam’s reservoir continued to decline during a historic drought. From December 2022 to January 2023, a series of atmospheric rivers drenched parts of the western United States, especially California, with large amounts of rain and snow. The snowfall helped establish significant snowpack at high elevations and somewhat replenished reservoirs after years of drought. Although it’s too early to tell, the excessive rainfall in California may have improved the prospects for hydropower production in the state this summer. We forecast hydropower generation for electricity market regions, rather than at the state level, in our Short-Term Energy Outlook (STEO). In our latest STEO, we forecast that total hydropower production in the western market region (California, Southwest, plus Northwest and Rockies) in the 2022–23 water year will decline slightly, by 4%, from the last water year.
  • 10. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 10 NewBase February 24 -2023 Khaled Al Awadi NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE Oil gains as Russian supply cuts temper concerns over rate hikes, high stocks Reuters + NewBase Oil prices extended gains for a second session on Friday as the prospect of lower exports from Russia offset rising inventories in the United States. Brent crude futures rose 61 cents, or 0.74%, to $82.82 per barrel by 0715 GMT. West Texas Intermediate crude futures (WTI) rose 57 cents, or 0.76%, to $75.960 a barrel. The benchmarks ended about 2% higher in the previous session on Russia's plans to cut oil exports from its western ports by up to 25% in March which exceeded its announced production cuts of 500,000 barrels per day. "Higher-than-expected U.S. crude oil inventories continue to challenge the oil demand outlook, but expectations for lower Russian production have an offsetting impact," said Yeap Jun Rong, a market strategist at IG. Oil price special coverage
  • 11. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 11 U.S. inventories are at their highest level since May 2021. U.S. crude stocks rose by 7.6 million barrels to about 479 million barrels in the week to Feb. 17, data from the U.S. Energy Information Administration said. For the week, oil prices are slightly lower, after the previous week's about 4% declines, dragged also by concerns about rising interest rates that could strengthen the dollar. Minutes from the latest U.S. Federal Reserve meeting indicated that a majority of officials remained hawkish on inflation and tight labour market conditions, signalling further monetary tightening. The prospect of further rate hikes supported the dollar index , which was set for a fourth straight week of gains. The index is now up about 2.5% for the month. A firm dollar makes commodities priced in the greenback more expensive for holders of other currencies. "The focus as we close the week will be on what happens with next inflation report, will the market get more nervous on even more tightening from the Fed," OANDA analyst Edward Moya said.
  • 12. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 12 There’s a Cleaner Way to Heat Your Home, and It’s Not Hydrogen Bloomberg - Lara Williams Hydrogen is one of the most abundant gases, estimated to make up 75% of the mass of the universe. It also has great potential to help the world slash greenhouse gas emissions, since it doesn’t produce any carbon dioxide (CO2) emissions when it’s burned for energy. Yet its use has been limited thus far. That’s set to change in the UK over the next couple of years. Under proposed plans drawn up by National Gas, which owns and operates the UK’s 7,630- kilometer (4,760-mile) natural gas transmission network, between 2% and 5% of the fuel running through the pipelines could be hydrogen by 2025. The plans have not yet been approved by the government. But other countries, including Norway, are also exploring hydrogen blending. Considering 77% of Britain’s gas imports come from Norway, it’ll need to be ready to receive blended gas. The idea is being sold as a step toward decarbonizing natural gas (which is mostly methane with small amounts of other hydrocarbons), which still heats 78% of homes in the UK. But don’t mistake this as a way of cutting emissions significantly. Even taking the hydrogen share up to 20% would only result in a 7% reduction in carbon emissions, at best. The savings of a 2%-5% hydrogen blend would be miniscule. Instead, think of blending as one step along the UK’s plan to build a “hydrogen backbone”: a reinvention of the country’s gas network for a net zero age. But it’ll need to start making priorities about what hydrogen should power long-term. It makes more sense to use 100% hydrogen in some areas — heavy industry, for example — but not in others, such as our homes. More on this later. First, an explanation of what a hydrogen backbone might look like. Clean hydrogen has great potential to power hard-to-abate sectors such as heavy industry, shipping and aviation.
  • 13. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 13 Hydrogen can be stored for long periods without losing energy so it could also improve resilience of the electricity grid by being a backup fuel during times when the sun isn’t shining and the wind isn’t blowing. The UK’s hydrogen backbone would repurpose up to 2,000 kilometers of gas pipelines to transport clean hydrogen to industrial clusters across the country. Hydrogen Demand The biggest use cases for hydrogen are in the hard-to-abate sectors such as shipping and manufacturing Source: The Climate Change Committee's Sixth Carbon Budget, Note: Shows projected hydrogen demand according to the Balanced Net Zero pathway Hydrogen comes in a variety of colors depending on how it’s produced, and the best are colorful — green is from renewable energy, pink from nuclear energy, blue from natural gas with carbon capture. Most of the UK’s hydrogen production right now is actually gray, produced using natural gas without carbon capture, but there is scope for cleaner stuff. For instance, the UK spent £215 million ($258 million) in 2022 turning off wind farms during times of low demand or due to system constraints, wasting a lot of energy potential. If production facilities were located next to the farms, the UK could keep that renewable power on and use it to make green hydrogen instead. A hydrogen backbone is going to take some time to develop, of course. Pipes need retrofitting to handle 100% hydrogen — which is more prone to leaking and needs transporting at higher pressures — and long-term storage doesn’t really exist yet in the UK. That’s why the National Gas plan to blend low levels of hydrogen with gas makes sense. Blending, as an early use-case, could help boost broader demand for hydrogen and get production up and running. But blending will be limited and temporary — eventually, we’ll have to stop using natural gas altogether — and Britain has to get its long-term hydrogen plan right. One area I find concerning is the discussion around using hydrogen for heating. There are a series of trials currently being set up in the UK to explore feasibility, including a hydrogen neighborhood of 300 homes in Fife, Scotland. A decision is expected from the government in 2026 on whether to
  • 14. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 14 use hydrogen for domestic heating in the UK. But the country would do well to abandon the idea sooner, keeping hydrogen for industrial applications and focusing on speeding up the deployment of heat pumps for households. The reason is simple: Hydrogen is a less economic, more resource-intensive method of heating than alternatives such as heat pumps and solar thermal. A recent study found that using hydrogen for heating could nearly double the cost of heating a home by the end of the decade compared with natural gas. Sure, installing heat pumps is an eye-wateringly expensive undertaking, but so is converting to green hydrogen, which will require every distribution pipe to be refurbished, every gas- burning appliance to be upgraded and rigorous safety checks to be made. Heat Pumps vs Hydrogen Using heat pumps is nearly six times more energy-efficient than heating with green hydrogen Source: Hydrogen Science Coalition Note: 70GWH is the energy needed to heat Britain’s housing stock over the winter months Michael Liebreich, founder of BloombergNEF, points out that converting every gas-heated home in the UK to hydrogen would cost £190 billion, and even that is a “hopelessly optimistic” estimate. The actual total could well be twice the price. A mass heat pump conversion would cost about the same — between £182 billion and £302 billion — but it would come with cooling capabilities, much greater efficiency and the added bonus of being deployable right now. So by all means, let’s blend. But let’s stay focused on the big picture, too, electrifying heat as fast as possible and building a hydrogen backbone that makes sense.
  • 15. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 15 NewBase Specual Coverage The Energy world –February -24 -2023 CLEAN ENERGY Global emission trading systems putting a price on pollution Reuters - By Susanna Twidale The price of carbon emissions permits in Europe's carbon market, the world's most established, hit a record high over 100 euros ($107) per tonne on Tuesday. Europe’s Emissions Trading System (ETS) is the bloc’s flagship scheme to help curb greenhouse gas emissions. Several other regions across the globe are also using ETSs to meet climate targets. An ETS sets a gradually decreasing cap on the emissions a sector, or group of sectors, can produce. It creates "carbon permits" for those emissions, which companies must buy for each tonne of CO2 they emit. Some sectors are given free permits to help maintain international competitiveness. Below are some of the major carbon emissions trading systems around the world. BRITAIN Britain launched a domestic ETS in 2021 after leaving the European Union scheme following Brexit. It covers power plants, aviation and energy intensive industries. Benchmark permits trading in the scheme currently trade around 85 pounds ($102.83) a tonne.
  • 16. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 16 CHINA China launched a national ETS in 2021 covering the power sector, which accounts for around 40% of the country’s total emissions. It is expected to expand to other carbon-intensive sectors, including steel and construction, in the next phase. Permits in the scheme currently trade around 57 yuan ($8.29). EUAs are the main currency in the European Union's Emissions Trading System (ETS) that forces manufacturers, power companies and airlines to pay for each tonne of carbon dioxide they emit as part of the bloc's efforts to meet its climate targets.
  • 17. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 17 EUROPEAN UNION The EU's ETS, which started 18 years ago, is mandatory for all 27 EU members, plus Iceland, Liechtenstein and Norway, covering power plants, aviation and energy intensive industries. It covers around 40% of the bloc’s emissions. Permits hit a record high over 100 euros ($106.66) per tonne on Tuesday. NEW ZEALAND Its ETS, which began in 2008, covers electricity generators, manufacturers of liquid fossil fuels including petrol and diesel. Some forest owners are given free permits, others can voluntarily join the scheme. Prices currently trade around NZ$ 70 ($43.64). U.S. RGGI The United States' Regional Greenhouse Gas Initiative (RGGI) covers several states including Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, Rhode Island, and Vermont. Pennsylvania and Virginia have also joined RGGI although Virginia's Republican governor has said he wants to withdraw the state from the carbon trading programme. RGGI covers emissions from the power sector. Permits in the scheme are currently trading around $13. SOUTH KOREA Its ETS started in 2015. It covers around 70% of the country’s economy including the power sector, industry and domestic aviation. Permits in the scheme are currently trading around 13,000 Korean Won ($9.99). WCI The Western Climate Initiative (WCI) covers California, Washington, Quebec and Nova Scotia in Canada and includes electricity generators and large industrials. Permits are currently trading around $27.
  • 18. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 18 NewBase Energy News 24 February 2023 - Issue No. 1596 call on +971504822502, UAE The Editor:” Khaled Al Awadi” Your partner in Energy Services NewBase energy news is produced Twice a week and sponsored by Hawk Energy Service – Dubai, UAE. For additional free subscriptions, please email us. About: Khaled Malallah Al Awadi, Energy Consultant MS & BS Mechanical Engineering (HON), USA Emarat member since 1990 ASME member since 1995 Hawk Energy member 2010 www.linkedin.com/in/khaled-al-awadi-38b995b Mobile: +971504822502 khdmohd@hawkenergy.net or khdmohd@hotmail.com Khaled Al Awadi is a UAE National with over 30 years of experience in the Oil & Gas sector. Has Mechanical Engineering BSc. & MSc. Degrees from leading U.S. Universities. Currently working as self leading external Energy consultant for the GCC area via many leading Energy Services companies. Khaled is the Founder of the NewBase Energy news articles issues, Khaled is an international consultant, advisor, ecopreneur and journalist with expertise in Gas & Oil pipeline Networks, waste management, waste-to-energy, renewable energy, environment protection and sustainable development. His geographical areas of focus include Middle East, Africa and Asia. Khaled has successfully accomplished a wide range of projects in the areas of Gas & Oil with extensive works on Gas Pipeline Network Facilities & gas compressor stations. Executed projects in the designing & constructing of gas pipelines, gas metering & regulating stations and in the engineering of gas/oil supply routes. Has drafted & finalized many contracts/agreements in products sale, transportation, operation & maintenance agreements. Along with many MOUs & JVs for organizations & governments authorities. Currently dealing for biomass energy, biogas, waste-to-energy, recycling and waste management. He has participated in numerous conferences and workshops as chairman, session chair, keynote speaker and panelist. Khaled is the Editor-in-Chief of NewBase Energy News and is a professional environmental writer with over 1400 popular articles to his credit. He is proactively engaged in creating mass awareness on renewable energy, waste management, plant Automation IA and environmental sustainability in different parts of the world. Khaled has become a reference for many of the Oil & Gas Conferences and for many Energy program broadcasted internationally, via GCC leading satellite Channels. Khaled can be reached at any time, see contact details above.
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