Energy

• [New] China's plan to dramatically reduce greenhouse gas emissions over the next four decades will put increasing pressure on a financial system that is not ready.
• [New] IHS Markit does not expect any big new interstate gas pipes to be built after the $5.8 billion - $6.0 billion Mountain Valley pipeline from West Virginia to Virginia enters service, expected earliest by the end of the year.
• [New] A normalization of crude Oil prices has provided a breather to Canadian oil producers, but the energy sector is struggling significantly to recover from the pandemic hit and fresh containment measures worldwide indicate global trade is going to face more turbulent times.
• [New] China's solar-powered vehicle, about the size of a golf cart, will collect data on underground water and look for evidence that the planet may have once harbored microscopic life.
• [New] Finland aims to increase the share of renewable energy to over 50% of all energy consumption by 2030.
• [New] The gas terminal is necessary for Taiwan's energy needs, with gas having constituted 36% of the energy mix in 2020, and claiming that without the gas terminal, goals of phasing out nuclear energy by 2025 will not be possible.
• [New] China will cut energy intensity, a ratio that measures how much is used to drive economic growth, by around 3% in 2021 in a push to meet climate goals, but stopped short of setting a cap on energy use in its new development plan released on Friday.
• [New] China will expedite its transition to a green development model with a major push to develop new energy sources while promoting the clean and efficient use of coal.
• [New] Vienna-based international oil, gas, and chemicals company OMV plans to build a pilot plant at its Schwechat refinery to produce second-generation biofuels to reduce carbon emissions.
• [New] Environmental and security concerns have created an opportunity for fundamental change in the way the world produces and consumes energy.
• [New] Gas is still expected to experience a compound annual growth rate of 1.5% per year between 2019 and 2025, revised down from a pre-COVID - 19 prediction of 1.8% per year.
• [New] The demand for liquefied natural gas is expected to recover in the medium term as the global transition to a carbon-neutral economy gathers momentum, presenting further opportunity for growth for M & R.
• [New] Should plans for a liquefied natural gas (LNG) export facility move forward in Gibbstown, the U.S. will open new markets in Europe, Africa, and Asia for Pennsylvania-provided energy.
• [New] The Reserve Bank of Australia has confirmed that it will purchase GreenPower matching 20% of its electricity consumption under its contract with Delta Electricity, after saying it would consider sourcing all of its power from renewable sources.
• [New] FedEx will continue efforts to make its more than 5,000 facilities worldwide more sustainable through continued investments in efficient facilities, renewable energy, and other energy management programs.
• [New] Economic stimuli on national levels could soon change the course of global emissions if investments towards green infrastructure are enhanced while investments encouraging the use of fossil energy are reduced, they wrote.
• [New] For the first time in Belgium, hydrogen will be used in a commercial scale cogeneration plant designed to generate electricity and heat from natural gas.
• [New] The Calgary-based utility is in the process of retiring its Edmonton-area thermal coal mining operations and converting all of its coal power generation in Canada to natural gas by the end of 2021, while eliminating its last coal generation unit at a facility in Washington State by the end of 2025.
• [New] Plug Power and Universal Hydrogen have strengthened their industry relationship as part of an effort to make green hydrogen cost-competitive with jet fuel by 2025.
• [New] The worldwide movement to transition from fossil fuel energy sources to reduce CO2 emissions and avoid a climate crisis will affect the use of coal as an energy source.

Last updated: 07 March 2021