Daily Energy News
Policy & Regulatory
The Turkish energy exchange company Energy Exchange Istanbul (EXIST) will launch the Renewable Energy Guarantee of Origin (YEK-G) system on 21 June 2021. The voluntary scheme will provide companies and households with proof of origin of power generated from renewables. Each 1 MWh of renewables energy supplied to the network by the licensed power plants in the system will be recorded and documented. Power distribution companies will be able to verify renewable energy in their portfolio and to meet their renewable obligations.
The Australian government has opened bidding for the 2021 Offshore Petroleum Exploration Acreage Release, offering 21 areas across 6 basins offshore, namely Bonaparte, Browse, Carnarvon, Otway, Sorell, and Gippsland. Bidding is open until 3 March 2022.
In September 2020, the country presented a plan a to boost gas supply and reduce energy prices, promising a “gas-led recovery” from the COVID-19 crisis. The annual acreage release, which will unlock new basins to oil and gas exploration, is key to this policy.
The Indian Ministry of New and Renewable Energy (MNRE) is considering imposing green hydrogen consumption obligations on fertiliser producers and petroleum refiners between the fiscal years 2023-2024 and 2029-2030. The country intends to increase the penetration of domestic green hydrogen in sectors, which import natural gas and ammonia to produce hydrogen. India’s hydrogen consumption reaches 5-6 Mt/year.
Colombia has initiated its third renewable energy auction for non-conventional renewable energy sources (FNCER). The Ministry of Mines and Energy is seeking projects with a minimum capacity of 5 MW that are registered with the National Mining and Energy Planning Unit (UPME). Projects are required to have secured grids connection rights and to start supplying electricity from 1 January 2023 for a period of 15 years.
A federal judge in Louisiana (United States) has blocked the new administration’s suspension of new oil and gas leases on federal lands and water. In addition, the ruling, which applies nationwide, orders plan for lease sales for the Gulf of Mexico and Alaska waters to continue. In January 2021, the US authorities imposed a moratorium on oil and gas drilling on federal land as part of a series of executive actions to address climate change.
Energy & Climate Markets
The Russian energy group Gazprom plans to more than double its natural gas exports to China via the Power of Siberia pipeline to 8.5 bcm in 2021, up from 4.1 bcm in 2020. According to Gazprom, natural gas demand in China should increase by more than 50% over the next decade compared to 2020 level.
The Japanese power utility Shikoku Electric Power plans to restart its 846 MW Ikata 3 nuclear reactor in Ehime prefecture (western Japan) in October 2021. The Ikata-3 reactor was commissioned in 1994. It has been shut since December 2019, first for maintenance and then because of a court case. In March 2021, a high court in Western Japan overturned a decision from a lower court to maintain the reactor shut down because of insufficient attention to threats from earthquakes in the design of the plant; this 2021 decision paved the way for a restart of the reactor.
Infrastructure & Investments
Electricity of Vietnam (EVN) has awarded an engineering, procurement and construction (EPC) contract for the 1.2 GW Quang Trach-1 coal-fired power project to a consortium of Mitsubishi Corporation (Japan), Hyundai Engineering and Construction (Korea) and Construction Corporation No. 1 (Consortium MC - HDEC - CC1).