Η κ. Μπουζάλη υπογράμμισε ότι τις τελευταίες δύο δεκαετίες η Ευρώπη έχει πολλά προβλήματα, τόσο οικονομικά όσο και γεωπολιτικά. “Αυτή τη στιγμή έχουμε δύο πολέμους στη γειτονιά μας και μέσα σε όλα αυτά, η Ευρώπη αποφάσισε να περάσει ένα πολύ καλό πλαίσιο μετάβασης στον τομέα της ενέργειας και της καθαρής ενέργειας που δεν είχε σκεφτεί αρκετά. Και αυτή είναι η αλήθεια. Δεν ήξεραν πόσο χρόνο θα πάρει, πόσο θα κοστίσει, πώς θα επηρεαστεί ο κλάδος. Όλοι μας θέλουμε να μιλήσουμε για την πράσινη μετάβαση και να φτάσουμε στην καθαρή ενέργεια, αλλά πρέπει να το κάνουμε αυτό με συστηματικό τρόπο και χωρίς να βλάψουμε τις χώρες και τις βιομηχανίες μας” ανέφερε προσθέτοντας ότι η Ευρώπη αποβιομηχανοποιείται με τις περισσότερες βιομηχανίες να κλείνουν ή μετακομίζουν στις Ηνωμένες Πολιτείες.

Η κ. Μπουζάλη ανέφερε πως η Mytilineos, μια από τις μεγαλύτερες εταιρείες στην Ευρώπη, είναι πραγματικά μια εταιρεία ενεργειακής μετάβασης. “Ό,τι συζητείται μέσα σε συνέδρια, σε φόρουμ και σε υψηλό επίπεδο πολιτικής ή σε κυβερνήσεις, εμείς το κάνουμε, το κάνουμε στην πράξη”, ανέφερε προσθέτοντας ως παράδειγμα έργα υποθαλάσσιας διασύνδεσης μεταξύ του Ηνωμένου Βασιλείου και της Σκωτίας για τη διασφάλιση ότι οι ανανεώσιμες πηγές ενέργειας που κατασκευάστηκαν στο Ηνωμένο Βασίλειο και οι ανανεώσιμες πηγές ενέργειας που κατασκευάστηκαν στη Σκωτία μπορούν να ενσωματωθούν και να δώσουν πράσινη ενέργεια στα νοικοκυριά. “Γι’ αυτό βλέπετε ότι στην Ευρώπη υπήρχαν τόσα δισεκατομμύρια ευρώ επιδοτήσεις για τα νοικοκυριά για να μείνουν ζωντανά τα νοικοκυριά. Λόγω της ενέργειας”, ανέφερε.

Ο πρέσβης Viorel Ursu μίλησε για την πράσινη μετάβαση της Μολδαβίας. Σημείωσε ότι αυτό που παρατηρείται στην Ευρώπη και ιδιαίτερα στην περιοχή μας είναι αλλαγές στα ενεργειακά δίκτυα, με τις χώρες να αναζητούν νέες λύσεις στη προμήθεια παραγωγής και μεταφοράς ενέργειας και παρέθεσε τρεις βασικούς λόγους γι’αυτό: τα μεσογειακά ενεργειακά αποθέματα, την ώθηση για πράσινη μετάβαση και τις ανανεώσιμες πηγές ενέργειας που θα μπουν στο δίκτυο και τρίτον, ο αντίκτυπος του ρωσικού πολέμου στην Ουκρανία. Μάλιστα τόνισε πως η Μολδαβία είχε σχεδόν 100% εξάρτηση από το ρωσικό αέριο και μακροπρόθεσμο συμβόλαιο σε ισχύ, όταν διεκόπη η παροχή τον Δεκέμβριο του ‘22, αλλά σχεδόν συγχρόνως είχαν ολοκληρώσει τη διασύνδεση Ρουμανίας Μολδαβίας και έλαβαν αέριο από ευρωπαϊκές πηγές συμπεριλαμβανομένου του κάθετου διαδρόμου που είχε υπογραφεί από Ελλάδα, Βουλγαρία, Ρουμανία και Ουγγαρία, πρωτοβουλία στην οποία προσχώρησαν Μολδαβία, Ουκρανία, Σλοβακία.”Η Ελλάδα είναι στη μέση του κόσμου όχι στην άκρη της Ευρώπης, είναι στην πραγματικότητα στο επίκεντρο και ο πάροχος ενέργειας, όχι μόνο προμηθειών, αλλά η σταθερότητα, η ενεργειακή σταθερότητα για ολόκληρο το δίκτυο”, ανέφερε.

Ο Vladimir Malinov τόνισε πως εκτός από το Three Seas Initiative θέλουμε να έχουμε και το Three C- σχετικά με τη διασύνδεση και τη συνεργασία.

Ακόμα, είπε πως το FSRU είναι σχεδόν εδώ, και σε λίγες εβδομάδες, θα είναι λειτουργικό. “Σχεδιάζουμε να αρχίσουμε να προετοιμαζόμαστε για καλύτερη ενοποίηση και να δώσουμε πολύ περισσότερη ασφάλεια στην αγορά. Αλλά από αυτή την προοπτική, και έχοντας κατά νου ενδεχόμενη πλήρη διακοπή του ρωσικού φυσικού αερίου εργαζόμαστε πράγματι για μια δεύτερη επένδυση στην Ελλάδα. Θα το κάνουμε σε ανταγωνιστική βάση από οικονομικής πλευράς και θεωρούμε ότι είναι ένα έργο που θα ωφελήσει όχι μόνο από εμπορική άποψη την εταιρεία μας, αλλά και ολόκληρη την περιοχή”, σημείωσε. Πρόσθεσε δε ότι σίγουρα δεν πρέπει να ξεχνάμε την κοινωνία του σήμερα και ότι πρέπει να εξασφαλίσουμε οικονομικά προσιτή, βιώσιμη ενεργειακή ασφάλεια και προμήθειες, φυσικά, αλλά θα πρέπει επίσης να προετοιμαστούμε και για το μέλλον.

Το άρθρο Β. Μπουζάλη (MYTILINEOS): Πράσινη μετάβαση αλλά χωρίς να βλάψουμε τις χώρες και τη βιομηχανία μας εμφανίστηκε πρώτα στο Maritimes.

A study by Frontier Economics – commissioned by Fluence, BayWa r.e., ECO STOR, enspired, and Kyon Energy – provides valuable insights for advancing the energy transition in Germany. The new analysis underlines the pressing need for the electricity storage strategy recently put forth by the Federal Ministry of Economics and urges its prompt completion and implementation.

– By 2030, the volume of battery-based energy storage in Germany is expected to increase fortyfold reaching 57 GWh with a connected capacity of 15 GW.

– Battery storage can generate €12 billion in added economic value and reduce the cost of electricity for end-customers.

– With the deployment of storage, Germany can avoid the need to build an additional 9 GW of new gas-fired power plants by 2030, reducing CO2 emissions by up to 6.2 million tonnes in 2030.

Storage is crucial to the advancement of the energy transition

The recognition of energy storage’s role in power systems will increase significantly in the coming years. The analyses conducted by Frontier Economics show that the capacity of storage deployed in Germany will rise to 15 GW / 57 GWh by 2030, if a supportive policy framework is in place. This means a forty-fold increase compared to today.

By 2050, the capacity of large-scale battery-based storage systems in Germany can reach 60 GW / 271 GWh. This increase is driven by the growing demand for flexibility services in the electricity system and falling costs of storage.

Dr. Christoph Gatzen, Director at Frontier Economics, sees the study results as clear indicators for the future role of storage in Germany: “Large-scale battery storage is critical for the energy transition in Germany. Without the flexibility provided by storage, the country will face higher economic costs caused by increasing gas imports and expensive curtailment of renewable generation.”

The deployment of storage is expected to follow a growth trajectory similar to the one photovoltaic (PV) technology experienced in recent years, both in terms of cost degression and the expansion rate. However, the deployment of storage is purely market-driven, as new projects can be built and operated economically without government funding.

Storage has the potential to generate at least €12 billion in added economic value

Frontier Economics estimates that using storage to shift the availability of electricity from times of surplus generation to times of electricity shortages can generate a (macro)economic value of around €12 billion by 2050. This value is estimated based on the savings from the wholesale markets alone and will increase further when additional benefits of storage, such as system services, decreased CO2emissions, and participation in intraday markets, are taken into consideration.

According to the study, the deployment of large-scale storage systems in Germany has the potential to limit CO2 emissions by 6.2 million tonnes by 2030 and by approx. 7.9 million tonnes in 2040 compared to an electricity system which uses gas-fired power plants instead of storage.

Furthermore, storage participation in the wholesale market will lower wholesale electricity price by €1/MWh on average between 2030 and 2050 compared to a scenario where no energy storage is built. If no energy storage is built and the missing capacity is not replaced by additional new gas plants, the wholesale prices would rise by 4€/MWh.

Storage can significantly reduce the need for investment in gas-fired power plants

The forecasted deployment of energy storage systems will further ease pressure to invest in new gas fired power plants. According to the study, Germany needs to develop approx. 26 GW of new gas-fired power plants by 2030. However, without the deployment of storage as forecasted in the model, additional 9 GW of new gas power plants will be needed.

The modelling by Frontier Economics concluded that although storage cannot replace the construction of gas power plants entirely, it will reduce significantly the investment required compared to an increased build out and operation by 2030.

Considering the current budget crisis and the shortage of financing required for hydrogen-ready gas power plants, Dr. Christoph Gatzen stated: “Grid-scale storage systems can be built without government funding and can reduce the need for construction of new hydrogen-ready gas power plants as well as their fuel usage. Ensuring investment security for storage and green generation assets through the introduction of a clear and reliable regulatory framework should be a priority for policymakers. We expect the demand for electricity and peak load requirements in Germany to increase significantly in the coming years. There is an urgent need for new large-scale storage systems and other generation assets in addition to the expansion of renewable energies for ensuring security of supply.”

Industry expectations from policymakers

The initiators of the Frontier Economics’ study call on policymakers to ensure investment security for the development of new large-scale battery-based energy storage systems.

Bureaucratic and regulatory barriers in Germany, such as complex approval processes for new storage projects, should be reduced. All markets for energy trading, capacity, and ancillary services should be market-based and open to all technologies, including storage.

The Federal Government should meet the requirements set by the European Commission in the current reform of the European Electricity Market and set indicative storage targets for Germany as quickly as possible. Building on this, the Federal Government should present an expansion strategy for energy storage in Germany. With the recent publication of the electricity storage strategy, the Federal Government has taken the first step that must now be translated into concrete legislative proposals without delay.

About the study

The study on the value of large-scale battery-based energy storage in the power system in Germany was developed by Frontier Economics and commissioned by Fluence Energy GmbH, BayWa r.e. AG, ECO STOR GmbH, enspired GmbH and Kyon Energy Solutions GmbH. The study used the modelling of the European Electricity Market with Frontier’s Combined Investment and Dispatch Model in three different scenarios: (1) a reference modelling in which the endogenous expansion of batteries and gas-fired power plant is implemented in the model, and two simulation variants in which the expansion of energy storage is not possible in Germany, and the capacity replacement of missing energy storage by the endogenous expansion of gas-fired power plant is permitted (2) or not permitted (3).

Το άρθρο Study: Battery storage accelerates the energy transition εμφανίστηκε πρώτα στο Maritimes.

The new engines add another 1,000 MW to Karpowership’s current generation capacity of 6,000 MW

MAN Energy Solutions and Karpowership have signed a contract for the delivery of a total of 48 dual-fuel engines for Karpowership’s fleet of power plant ships (Powerships). The engine order consists of MAN 18V51/60DF dual-fuel engines with a mechanical output of 20.7 MW each.

The engines will be split between a number of Powerships. In addition to the engines, MAN Energy Solutions will also supply the control systems for the Powerships as well as other electromechanical equipment.

Alexander Stöckler, Head of Sales, Tendering & Project Management, Power Segment at MAN Energy Solutions, said: “MAN Energy Solutions has been supplying engines for Karpowership’s floating power plants since 2009. And we are proud of playing our role in Karpowership’s ability of realising the energy transition in a fast-track manner in any location in the world by now expanding the company’s fleet by a considerable 1,000 MW with this major order. Our dual-fuel technology has already proven itself in other Powerships, and we have now even been able to increase the engine output from 19 MW to almost 21 MW, which will make the upcoming Powerships even more effective.”

Gökhan Koçak, Chief Technical Operations Officer at Karpowership, emphasized the importance of the two companies’ long-term collaboration and added: “MAN Energy Solutions plays a vital role in Karpowership’s mission of providing high-efficient, reliable and low cost electricity in a fast-track manner all around the world. The two companies share a vision of supporting countries in their energy transition paths by providing a high-efficient multi-fuel technology.”

Stefan Eefting, Head of MAN PrimeServ Germany, added: “Karpowership not only places high demands on the quality of the engines, but also on the services and expertise in the area of maintenance and after-sales. In recent years, we have been able to increase the availability of the engines in Karpowership’s existing fleet to 98% with our services. This overall package of efficient and powerful engines combined with high service quality has once again convinced the customer to rely on us.”

Existing fleet with a total of 36 powerships
Karpowership has the world’s largest fleet of Powerships. The active fleet currently comprises a total of 36 Powerships with a total capacity of 6,000 MW. The future newbuilds equipped with MAN engines will also be deployed globally.

“Powerships stand for flexibility. After all, the floating power plants bring electrical energy to where it is urgently needed and help to alleviate urgent energy shortages,” explained Tilman Tütken, Vice President Strategic Projects, Power, at MAN Energy Solutions. “The Powerships will be deployed in various regions of Asia, South and Central America and Africa.”

Long-standing partnership
Timur Iyi, Managing Director of MAN Energy Solutions Turkey, added: “We have a long-standing partnership with Karpowership. Quality in product and services and a trustful relation and dialog is the key for this success. The company has already commissioned us to supply over 100 engines and together we have always been able to find solutions for emerging issues. We are delighted that Karpowership has placed its trust in us again and that we can continue to contribute to the success of this unique Powership concept with our technology.”

Karpowership partners with MAN Energy Solutions not only for newbuild projects, but also for the modernisation of its existing fleet. MAN PrimeServ, the after-sales brand of MAN Energy Solutions, is currently converting four barges with a total of 32 engines to dual-fuel operation. Karpowership also benefits from MAN PrimeServ’s extensive local capacities in Turkey as well the global service network when deploying its power plant vessels worldwide. With over 140 service locations worldwide, MAN PrimeServ offers the fastest possible support for troubleshooting, no matter where the power plant vessels are currently in operation.

Το άρθρο MAN Energy Solutions and Karpowership signed a contract for 48 dual-fuel engines εμφανίστηκε πρώτα στο Maritimes.

– MYTILINEOS has developed, is constructing, and has now financed a 588 MW solar portfolio in Chile

– Once constructed, these solar parks will produce approximately 1.6 TWh of green electricity annually

– Financing amounts to USD315m senior debt plus USD60m ancillary facilities

Athens, Greece – 10 January 2024 – MYTILINEOS Energy & Metals (RIC: MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US) (MYTILINEOS) has reached financial close with lenders BNP Paribas, Intesa San Paolo, Sumitomo Mitsubishi Banking Corporation, Rabobank and Santander Chile, on a 588 MWp non-recourse solar portfolio.

This portfolio was progressively acquired over 2020 and 2021 as part of MYTILINEOS’ strategic investment into the Chilean market, one of the most promising solar power markets in the world, with abundant solar resource and assertive decarbonization targets. The financing is structured with a construction & term facility of USD315m, VAT facility of USD30m and USD32m of LC facilities.

Once constructed, solar parks Willka, Doña Antonia, Tocopilla and Tamarico in Chile will produce approximately 1.6 terrawatt-hour (TWh) of green electricity annually, representing a reduction of over 600 thousand tons of carbon dioxide emissions per year.

The projects are at different stages of construction:

Willka was energized in August and was recently inaugurated. The project has a total investment of over US$110 million – the largest foreign capital investment in the region in the recent years and it will contribute 109,2 MWp, equivalent to powering more than 105,000 homes each year;

Doña Antonia will be energized in early 2024;

Tocopilla and Tamarico are expected to be energized in Q2

The majority of the power produced by the four projects will be sold to Enel Chile under respective 10-year power purchase agreements. The projects will also be eligible to receive capacity payments from the network coordinator.

MYTILINEOS continues to develop its solar pipeline in Chile that will enable additional projects to be financed and constructed in 2024 and beyond, further consolidating its position in the LATAM renewables market.

Chile is a key market for MYTILINEOS’ global renewables development strategy, extending across Europe, the Americas, and Asia-Pacific regions. The Company is already established in the country, not only as an integrated developer but also as a top tier EPC contractor for third party clients, including over 600MW in Chile as an EPC contractor.

This is MYTILINEOS’ first project financing in Chile, and its fifth project financing of solar PV projects internationally.

The total capacity of MYTILINEOS’ international RES portfolio, which consists of projects in over 30 countries and is dynamically expanding exceeds 13.8GW with the operational and mature pipeline reaching at 4.9GW while projects in early and middle stage of development sum up to 9GW.

The Company has also energy storage projects at various stages of development with a maximum injection power of 1.1GW

Milbank and Larrain acted as borrower counsels, White & Case and Garrigues as lender counsels, G-Advisory as technical advisor, DNV as market advisor, Marsh as insurance advisor and KPMG as tax advisor and model auditor.

Το άρθρο MYTILINEOS reaches financial close on Chilean PV portfolio εμφανίστηκε πρώτα στο Maritimes.

New investment by MYTILINEOS to further accelerate the development and deployment of solar PV parks and battery energy storage projects across Greece and other EU countries;
Investment provides boost to support growing share of renewables in the EU’s energy and electricity network.

Athens, Greece – 2 January 2024 – The European Investment Bank (EIB) has committed €400 million to support a significant new investment for MYTILINEOS Energy & Metals (RIC: MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US) (MYTILINEOS), which will accelerate renewable energy production across Greece and other EU countries.

MYTILINEOS will deploy a new portfolio of solar PV and battery storage systems (BESS) projects in the period through 2027 that will add capacity of approximately 2.6GW. The investment’s value is estimated to total €2.5 billion with projects rolled out across the EU.

The new facilities will be located in various less developed and transition areas across Greece and the EU. The EIB’s financing will thus support new investment in cohesion regions where per-capita income is lower than EU average, thus affirming the EU bank’s commitment to equitable growth and the convergence of living standards.

EIB Director General, Head of Operations Jean-Christophe Laloux and Christos Gavalas, MYTILINEOS Chief Treasury & IR Officer and Executive Board Member, signed the 10-year loan contract in Athens on Dec. 21, 2023. This new financing agreement is another part of the EIB’s tailored package of support to RepowerEU, the EU’s ambitious multi-billion plan to reduce dependence on fossil-fuel imports, accelerate the green transition and help Europe cut its carbon emissions to net zero by 2050.

“Scaling up renewable energy investment is crucial to harnessing Greece’s solar and energy storage potential and contribute to Europe’s energy transition,” said Jean-Christophe Laloux, Director General at the EIB. “To reach ambitious carbon reduction targets, Europe’s green and sustainable future must be significantly accelerated with projects such as this one, increasing the use of renewables, storage infrastructure, and preventing waste.”

“Leveraging on the long standing and valuable co-operation we have with EIB, we have secured the Bank’s significant support through this €400 million milestone agreement that will further strengthen MYTILINEOS financial capacity to accelerate the deployment of its investments in solar PV parks and battery energy storage systems projects. This strategic investment advances our prominent commitment to sustainable development and contributes to Europe’s ambitious plan to reduce fossil fuel dependence and achieve a carbon-neutral future by 2050”, said Christos Gavalas, Chief Treasury & IR Officer and Board Member at MYTILINEOS.

In addition to the deployment of solar and storage capacity, the new EIB financing will help upgrade the existing electricity grid and enable better management of power supply, increase reliability, and cater for future demand.

The systems are expected to provide real-time information to end-customers, facilitate energy savings and support demand response, and will thus contribute to addressing issues that slow the achievement of the EU’s and of national long-term energy and climate goals.

Το άρθρο €400 million EIB backing to MYTILINEOS to accelerate renewable energy transition εμφανίστηκε πρώτα στο Maritimes.

DNV has been awarded accreditation by the Global Carbon Council (GCC) which certifies it to deliver validation and verification services for greenhouse gas (GHG) emission reduction projects worldwide, in alignment with the GCC program.

Dubai, 11 December – As one of 14 GCC approved verifiers, DNV can now deliver validation and verification services for businesses whose GHG emissions reduction projects are developed in line with the GCC scheme.

In a ceremony that took place on Sunday 10 December at COP28, the world’s largest annual climate conference, Geir Fuglerud, CEO of Supply Chain & Product Assurance at DNV received the certificate on behalf of DNV.

The Global Carbon Council (GCC) is a voluntary carbon offsetting program that aims to assist organizations to reduce their carbon footprints, help sectoral economy to diversify by adopting low-carbon pathways, and catalyse climate actions on ground.

Anjana Sharma, Head of Sustainability for India at DNV, said, “More and more businesses are recognizing climate change as a serious societal problem, and that to take part in the solution they need to showcase strong efforts around decarbonization and sustainability as a whole. We expect an increasing number of businesses across the world to engage in GHG emissions reduction projects, and we are proud to be awarded GCC’s accreditation so we can support them on this important journey.”

Geir Fuglerud said, “As we broaden the scope of our climate change services to address increasing demand, being accredited by GCC will establish trust and empower us to support a wider range of companies committed to ambitious decarbonization initiatives. With the raft of upcoming regulations mandating organizations to establish and disclose climate-positive actions, such as the reduction of GHG emissions and other corporate responsibility activities throughout their supply chains, DNV is well-positioned to be the trusted partner for businesses requiring sustainability assurance services worldwide, upheld to the highest standards.”

DNV is also accredited by National Accreditation Board for Certification Bodies (NABCB) against ISO 14065 and ISO 17029 to carry out validation and verification of GHG emission reduction projects based on ISO 14064-2 and the Voluntary Carbon Scheme (VCS).

Learn more about our services here and visit the DNV COP28 hub to find out more.

dnv.com

Το άρθρο DNV expands climate change services by gaining GCC accreditation to support more companies with GHG emission reduction projects εμφανίστηκε πρώτα στο Maritimes.

Environmental groups urged countries gathered at the COP28 climate summit in Dubai on Friday to stop support for expansion of the global trade in liquefied natural gas (LNG), saying the industry was undermining efforts to contain global warming.

More than 250 environmental and community groups called on U.S. President Joe Biden’s administration in an open letter to stop permitting LNG facilities.

At the same time, activists gathered on the grounds of the summit in Dubai holding signs urging the world to “stop exporting climate chaos” and to “break the chains” of global LNG supplies.

“There is nothing natural about natural gas: it should be called liquefied methane gas,” Roishetta Ozane an activist from Louisiana, said at the protest.

“We urge the Biden administration to publicly commit during COP to no further regulatory, financial, or diplomatic support for LNG in the United States or anywhere in the world,” the letter to Biden from environmental groups said.

One of the toughest issues the talks must tackle is a division between countries on whether to phase out fossil fuels.

Many countries, including the United States and members of the European Union, have increased their LNG trade since Moscow’s invasion of Ukraine last year led to a halt in much of Russia’s pipeline gas shipments.

Although less carbon-intensive than coal, gas has a big climate impact, especially when supercooled to make it a liquid for shipment, then regasified for use.

Carbon dioxide emissions from U.S. LNG facilities have risen by 81% since 2019, according to government data, amounting to the climate impact of several big coal-fired power plants.

Gas use also has a byproduct in the form of the powerful greenhouse gas methane, which can leak during the production process.

In Dubai, 50 major energy companies signed a “decarbonisation charter” committing them to net zero emissions by 2050 and to ending routine methane flaring by 2030, but they made no commitment to slow the development of new projects.

“It is absolutely hypocritical for our leaders to be here talking about tackling methane when we see this tremendous increase in investment in gas and LNG projects,” said Tzeporah Berman, chair of the Fossil Fuel Non-Proliferation Initiative.

The UAE host of COP28 was accused in media reports of using the climate talks to discuss possible natural gas and other commercial deals. COP President Sultan al-Jaber vehemently denied the claim.

DANGEROUS DETOUR?

Environmental think tank Urgewald said 1,023 companies around the world plan new LNG terminals, pipelines or gas-fired power plants.

Experts say oil and gas companies risk creating stranded assets, especially in low- and medium-income countries keen to use fossil fuels to earn export revenues.

Currently, 65% of the world’s new gas-fired power capacity is being built in Asia, and financing for gas is almost double the amount available for renewable projects, the Philippines-based Center for Energy, Ecology and Development (CEED) said on the sidelines of COP28.

“In the last decade, civil society fought tooth and nail to derail coal expansion,” said Gerry Arances, CEED’s executive director. “Unfortunately there is a massive detour in Southeast Asia with the LNG expansion.”

At least 165 financial institutions have provided $60.5 billion to finance the construction and operation of gas-related projects in the region, compared to $31.8 billion for renewables, CEED said, even though 56 of those institutions had signed net-zero initiatives.

Gas industry executives attending COP28 said that with controls on CO2 and methane, natural gas could still serve as a back-up energy supplier during the transition to cleaner, but intermittent sources of energy like solar and wind.

For China, where natural gas production is forecast to increase by 10 billion cubic metres this year, gas is a way to tackle the pressing problem of urban air pollution caused by coal use.

In an action plan published on Thursday, China identified cleaner burning natural gas as a solution to China’s smog problems.
Source: Reuters (Reporting by Nichola Groom; Editing by Aurora Ellis and Barbara Lewis)

Το άρθρο Green groups urge end to LNG expansion to stop ‘climate chaos’ εμφανίστηκε πρώτα στο Maritimes.

– The COP28 Presidency and the International Energy Agency (IEA) concluded their High-Level Dialogues series at COP28, with the final Dialogue featuring over 40 Heads of State, Ministers and business leaders from Europe, the Americas, Africa, and Asia.

– The final Dialogue achieved convergence on the importance of tripling installed renewable energy capacity, doubling energy efficiency, and accelerating affordable financing.

– The outcomes represent a major achievement for the Dialogues, which have focused on building consensus for a 1.5°C-aligned energy transition and support for an ambitious decision on the Global Stocktake at COP28.

– The COP28 Presidency and the International Energy Agency (IEA) High-Level Dialogues concluded with strong consensus on the key elements needed for the energy transition. 

The fifth and final Dialogue, held during COP28 in Dubai, was attended by over 40 high-level leaders, including Heads of State and Government, Heads of Delegation and business leaders. It marks a significant achievement for the co-Chairs, COP28 President Dr. Sultan Al Jaber and Dr. Fatih Birol, Executive Director of the IEA. 

The Dialogues concluded with clear convergence on the building blocks of a 1.5°C-aligned energy transition and strong support for an ambitious decision on the Global Stocktake at COP28. 

Dr. Birol set out an ambitious and integrated package across five pillars for COP28, for which there was strong support in the room: 

Tripling global renewable energy generation capacity by 2030.

Doubling annual energy efficiency improvements by 2030.

An orderly decline of fossil fuel use demand by 2030, starting with no new coal plants.

Commitment from the oil and gas industry to align their strategies and investment portfolios with 1.5°C, with a focus on a 75 percent reduction in methane emissions by 2030.

Financing mechanisms for a major scaling-up of clean energy investment in emerging and developing economies.

At the conclusion of the Dialogues, Dr. Sultan Al Jaber said: “This series of dialogues has allowed us to converge on the critical elements of the just energy transition. The transition will not be straightforward, but it will be harder if we cannot agree on its central components. Simply put, to deliver the highest possible ambitious response to the Global Stocktake we must work together. I am encouraged by the practical actions brought forward by world leaders today at the final dialogue, and I hope that you take this open mindset and optimism throughout this COP.” 

Dr. Birol commented: “I’m encouraged by the support by governments around the world during the dialogue for the IEA’s five pillars for success at COP28, including the need by 2030 for tripling renewable capacity, for doubling energy efficiency improvements, for the oil and gas industry to meaningfully commit to clean energy transitions, for a massive increase in financing for developing economies, and for an orderly decline of fossil fuel use. We now need to see this support translate into concrete commitments and action.” 

Attendees highlighted the strong support for the COP28 Presidency’s Global Renewables and Energy Efficiency Pledge, which has been signed by 130 countries. There was broad agreement on the need for urgent action on coal, not only on no new unabated coal plants, but also on accelerating the retirement of existing plants. 

There was also acknowledgement that countries must seize the opportunity to develop and accelerate their own energy transition plans, while supporting developing countries with finance and technology transfer. Initiatives such as Just Energy Transition Partnerships (JETPs) were highlighted as an effective mechanism for enabling a just and orderly energy transition that supports developing countries. 

The final Dialogue follows a year of engagements, where key elements of the energy transition including renewables, energy efficiency, financing, fossil fuel demand and supply, and decarbonization have been discussed. The series of Dialogues have been conducted in conjunction with the International Renewable Energy Agency (IRENA) and supported by the United Nations Framework Convention on Climate Change (UNFCCC). 

During the dialogue, world leaders displayed significant ambition to achieve concrete targets and accelerate deployment of renewable capacity and improve energy efficiency.

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The DNV-classed rig, Transocean Norge, has become the first semisubmersible rig to be awarded DNV’s Abate (Power+) notation following significant upgrades designed to lower its greenhouse emissions during operation. The Abate (Power+) notation is designed to reflect the best industry practices in greenhouse gas abatement for offshore units.

While the International Maritime Organization (IMO) regulates carbon intensity for sea vessels, offshore installations do not currently fall under a similar regulatory framework. Yet the industry is still seeking to enhance sustainability. DNV’s Abate (Power+) class notation not only represents ambitious emission reduction targets but also a comprehensive energy and emission management system aligned with ISO 50001 standards. It emphasizes rigorous monitoring of energy consumption and the implementation of both operational and technical strategies to notably reduce emissions.

Transocean implemented several key strategies to ensure the rig meets these standards, including comprehensive monitoring of energy consumption, optimization of operational energy, use of closed bus ties to minimize number of idle engines (including the DYNPOS(AUTRO-CBT) class notation), and variable frequency drives in rotating machinery to optimally control the power for large rotating machinery.

Torgeir Sterri, Director of Offshore Class, DNV, said: “We are delighted to award Transocean Norge with our Abate (Power+) notation. To support the offshore industry’s efforts in reducing greenhouse gas emissions and aligning with the targets of the Paris Agreement, we have introduced offshore class standards for emission reduction. Offshore units verified by DNV to meet these standards are paving the way for the industry’s sustainable future.”
dnv.com

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Swiss marine power company WinGD will supply X-DF-M methanol-fuelled engines for a series of six container vessels to be built at Yangzijiang Shipbuilding in China. The 9,000 TEU vessels will each be powered by an X82DF-M engine built by HD Hyundai Heavy Industries’ Engine & Machinery Division (HHI-EMD), to be delivered in August 2025.

The new order, which includes options for further engines, expands WinGD’s methanol engine orders into the 82-bore size. As announced previously, early interest in the X92DF-M resulted in an order for four engines to power ultra-large container vessels being built for COSCO SHIPPING LINE.

Volkmar Galke, Director Sales, WinGD, said: “This order confirms that our X-DF-M engines will be in service long before green methanol is widely available and before regulatory requirements come into force, giving operators time to build experience with the new fuel and engines. We are delighted that one of the biggest and most influential container lines has also invested in our X-DF-M technology, sending a strong signal to all operators currently making their own alternative fuel decisions.”

As previously stated, both X-DF-M and ammonia-fuelled X-DF-A engines will be available for delivery from Q1 2025. The combustion principle and engine platform deployed for X-DF-M engines is based on the latest X-Engines from WinGD, supplemented by high-pressure methanol injection. X-Engines, including the highly efficient X92-B and X82-2.0 engine, already power many of the world’s biggest container ships.

Notable features of X-DF-M engines include comparable performance with X-Engines in both methanol and diesel modes, low pilot fuel requirements achieved through precisely controlled common rail injection, and NOx Tier III compliance in both modes with selective catalytic reduction. The new engine concept will be retrofittable to the X-Engine series as soon as X-DF-M engines are available in the relevant bore sizes.

The new vessel series will enter service in 2026 and 2027.

WinGD in brief
WinGD advances the decarbonisation of marine transportation through sustainable energy systems using the most advanced technologies in emissions reduction, fuel efficiency, hybridisation and digital optimisation. With their two-stroke low-speed engines at the heart of the power equation, WinGD sets the industry standard for reliability, safety, efficiency and environmental design, backed by a global network of service and support. Headquartered in Winterthur, Switzerland since its origin as the Sulzer Diesel Engine business in 1893, today it is powering the transformation to a sustainable future.

Το άρθρο WinGD to supply methanol-fuelled engines for six green container vessels εμφανίστηκε πρώτα στο Maritimes.