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NewBase Energy News 28 August 2022 No. 1542 Senior Editor Eng. Khaed Al Awadi
NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
Global Energy Crisis Spurs a Revival of Nuclear Power in Asia
Bloomberg - Stephen Stapczynski
Asia is giving the once-shunned nuclear power industry a second lease on life, thanks to the global
energy crisis. Governments in Japan and South Korea are removing anti-nuclear policies, while
China and India are looking to build more reactors to avoid future supply shortages and curb
emissions. Even developing nations across Southeast Asia are exploring atomic technology.
The embracing of nuclear energy comes after the prices of natural gas and coal, the two fossil fuels
used to generate most of Asia’s power, shot to records this year as Russia’s invasion of Ukraine
upended markets. As the world shifts away from Russia, a major fuel exporter, supply will remain
tight and prices high well into the future.
That’s making clean and reliable nuclear power very attractive for policymakers and utilities eager
to rein in inflation, achieve green goals and curb dependence on overseas energy suppliers. “Old
resistances are crumbling surprisingly fast,” said David Hess, a policy analyst at the World Nuclear
Association. “Existing nuclear plants produce some of the cheapest electricity. The skyrocketing
natural gas price has made these obvious economic advantages all the more obvious.”
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It’s a dramatic turnaround for the nuclear industry, which spent the last few decades beset by cost
overruns, competition from cheaper fossil fuels and stricter regulations. Delays to major nuclear
projects resulted in the bankruptcy of industry pioneer Westinghouse Electric.
While the nuclear power comeback is global, gaining proponents from the UK to Egypt, the shift is
perhaps most surprising in Asia, considering it had the closest view of the catastrophe that struck
Japan more than a decade ago.
The future of nuclear was still looking bright until March 2011, when a massive tsunami hit the
Fukushima Dai-Ichi plant in Japan, resulting in the worst meltdown in decades. The incident
convinced some governments that nuclear power’s risks far outweighed its benefits, with Germany
and Taiwan deciding to set deadlines to close down their fleets of plants. Mammoth costs of building
new facilities, and frequent delays, also served as deterrents.
Now, as power bills surge and nations deal with fossil fuel-induced inflation, governments are again
looking to nuclear. It requires little uranium to operate, which is currently abundant, and it produces
power around the clock, unlike intermittent renewable energy projects such as wind and solar.
Also boosting the industry are advances in producing smaller and cheaper nuclear technology,
including small modular reactors -- or SMRs -- which may become attractive alternatives as tools to
tackle climate change.
“Fear-based objections that grew from Fukushima have faded, as the extent of that accident was
tempered by a decade of scientific research, and Asian countries face more acute – and deadly –
threats from energy shortages,” said Brandon Munro, chief executive officer of Bannerman Energy
Ltd., an Australian-listed uranium development company.
That explains why Japan, which depends on imported fuel to produce most of its electricity, said
this week that it will explore development and construction of next-generation reactors, while also
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pushing for the restart of more idled nuclear reactors. It’s a complete turnaround for Japan, which
for the last decade said it wouldn’t build new units or replace old one.
“Russia’s invasion changed the global energy situation,” Prime Minister Fumio Kishida said on
Wednesday. “Nuclear power and renewables are essential to proceed with a green transformation.”
Japan’s public is even warming up to nuclear. Some 58% of residents favored restarting nuclear
power in a Yomiuri poll conducted earlier this month, representing the first time support has
outweighed opposition since the newspaper began the survey in 2017.
A similar shift is taking place in South Korea. Voters this year elected a pro-nuclear president who
wants atomic energy to account for 30% of total energy generation, reversing the previous
government’s plan to ditch reactors. He also vowed to make the nation a major exporter of nuclear
equipment and technology, and integrate atomic power and renewable energy to push for carbon
neutrality.
China, which is currently grappling with a historic heat wave that’s resulted in power shortages in
parts of the country, said this week that it will accelerate nuclear power and hydro projects.
The nation is in the midst of the largest build-out of reactors in the nuclear industry’s history to meet
its insatiable energy demand, while also curbing dependence on dirty coal-fired power plants. China
currently has nearly 24 gigawatts worth of nuclear power capacity under construction, and another
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34 gigawatts planned, according to WNA data. If all of that comes to fruition, China will become the
world’s top nuclear power producer.
Prime Minister Narendra Modi’s expansion into atomic energy is also gaining momentum as India’s
largest power producer looks to develop two massive nuclear power projects. The country currently
generates about 70% of its electricity using coal and around 3% from nuclear, but Modi is aiming to
more than triple its nuclear fleet over the next decade.
Even cash-strapped nations across Southeast Asia are looking at nuclear power. Philippine
President Ferdinand Marcos Jr. told Congress last month that he will explore nuclear plants to bring
down power costs and boost energy sufficiency. Indonesia plans to start its first nuclear plant in
2045, part of an ambitious goal to reach net-zero emissions by 2060.
The island state of Singapore said earlier this year that next-generation nuclear or geothermal
technology could make up 10% of its energy mix by 2050. While the details are hazy, that’s a shift
from a decade ago when the country concluded that conventional reactors weren’t suitable.
Not all governments in Asia are convinced. Taiwan hasn’t changed its position to phase out nuclear
power. It plans to shut its reactors at the end of their 40-year lifetimes through 2025, the Ministry of
Economic Affairs said earlier this week, according to the Taipei Times.
And Europe has shown that even having an enormous fleet of reactors doesn’t always ensure power
supply. France, one of the world’s top nuclear power producers, is grappling with record-high
electricity prices due in part to a litany of reactor outages.
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Meanwhile, next-generation projects such as SMRs are still years or even decades away, and don’t
present an immediate fix to the current energy crunch. But governments and companies are moving
to endorse the technology now to avoid the crises of tomorrow.
South Korean conglomerate SK Group said this month it will invest $250 million in Bill Gates-backed
TerraPower LLC. In March, the Japan Bank for International Cooperation invested $110 million in
Nuscale Power, which is developing SMRs.
“Each country faces its own individual challenges in implementing its nuclear program,” said WNA’s
Hess. “But recent events have seen these obstacles disappear or shrink considerably.”
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Korean group inks $2.2bn Egypt nuclear plant contract
Bloomberg + NewBase
South Korea has signed a $2.2 billion deal with Russia’s state-owned Rosatom to provide buildings
and components for a new Egyptian nuclear plant, reported Bloomberg. The state-owned South
Korea Hydro & Nuclear Power Company had won the contract to supply buildings, equipment and
materials for Egypt’s El Dabaa project, according to a statement from South Korea’s energy ministry.
The Korean group emerged the sole bidder for the portion of El Dabaa project in December 2021,
and will construct the main and auxiliary buildings and structures of the turbine islands for the units
KHNP said it plans to hold a briefing for local nuclear power-related companies in September to
facilitate the participation of domestic nuclear equipment manufacturers in the construction of El
Dabaa. The company added it will push ahead with contracts for all equipment as soon as possible.
"Winning the order for the construction project in El Dabaa is an important achievement that has
proven Korea's excellent construction capabilities and business management capabilities from the
UAE project," said Whang Joo-ho, CEO of KHNP.
Construction of the nuclear reactor building of the first unit of the El Dabaa project began in July.
The first unit is expected to begin commercial operations in 2028.
A rendered image shows four nuclear power plants that Korea Hydro & Nuclear Power (KHNP)
will construct in El Dabaa, Egypt. Courtesy of KHNP
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ndia attract Norway’s KLP to invest in 420 MW Solar project
CNBC Anmar Frangoul + NewBase
India is targeting a major ramp up of its renewable energy capacity, but achieving its aims represents
a big challenge. Norway’s Climate Investment Fund and the country’s biggest pension company,
KLP, are set to invest in a 420-megawatt solar power project being developed in Rajasthan, India.
The two parties will invest around 2.8 billion Indian rupees (roughly $35 million) for a 49% stake in
the Thar Surya 1 project, which is being constructed by Italian firm Enel Green Power.
According to an announcement from the Norwegian Embassy in India, the Climate Investment Fund
is slated to allocate 10 billion Norwegian Krone (approximately $1 billion) to projects over the next
five years.
The embassy also described India, which is on track to become the planet’s most populous country
next year, as a “priority market.”
That comes as Norway’s development finance institution, Norfund — which manages the Climate
Investment Fund — and Enel Green Power have established an India-focused strategic investment
partnership.
“This is the first investment we are making with Enel, and together we have great ambitions to
contribute with similar investments in India in the years to come,” Tellef Thorleifsson, CEO of
Norfund, said in a statement issued Monday.
 The Thar Surya 1 project, in Rajasthan, India is being constructed by
Italian firm Enel Green Power.
 Norwegian embassy describes India, which is on track to become the
planet’s most populous country, as a “priority market.”
 India wants its renewable energy capacity — excluding large hydro — to
hit 175 GW this year, a challenging target.
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While it is investing in renewable energy projects, Norway’s oil and gas reserves make it a major
exporter of fossil fuels. “In recent years, Norway has supplied between 20 and 25 per cent of the
EU and United Kingdom gas demand,” Norwegian Petroleum says.
“Nearly all oil and gas produced on the Norwegian shelf is exported, and combined, oil and gas
exceeds half of the total value of Norwegian exports of goods,” it adds.
India’s goals
India’s Ministry of New and Renewable Energy says that, over the past seven and a half years, the
country’s solar capacity has increased from around 2.6 gigawatts to over 46 gigawatts.
India wants its renewable energy capacity — excluding large hydro — to hit 175 GW this year, a
challenging target. On June 30, installed renewable energy capacity, excluding large hydro, stood
at 114.07 GW, according to a recent statement from India’s minister of state for new and renewable energy.
Despite its renewable energy goals, India remains reliant on fossil fuels. At the end of June, fossil
fuels’ share of India’s total installed generation capacity stood at 58.5%, according to the Ministry
of Power. At last year’s
COP26 climate change
summit, India and China,
both among the world’s
biggest burners of
coal, insisted on a last-
minute change of fossil fuel
language in the Glasgow
Climate Pact — from a
“phase out” of coal to a
“phase down.” After initial
objections, opposing
countries ultimately
conceded.
During a speech delivered to The Energy and Resources Institute’s World Sustainable Development
Summit in Feb. 2022, Indian Prime Minister Narendra Modi said he firmly believed that
“environmental sustainability can only be achieved through climate justice.”
“Energy requirements of the people of India are expected to nearly double in the next twenty years,”
Modi said. “Denying this energy would be denying life itself to millions. Successful climate actions
also need adequate financing.”
He added, “For this, developed countries need to fulfill their commitments on finance and technology
transfer.”
European interest
The Norwegian interest in India’s renewable energy sector represents the latest example of major
organizations and businesses making a play in the country. Earlier this year, for example, German
energy giant RWE and India’s Tata Power announced a collaboration focused on developing
offshore wind projects in India.
“India has excellent wind resources, which can help to meet the country’s increasing energy
demands,” Sven Utermohlen, RWE Renewables’ CEO for offshore wind, said in a statement. “If
clear regulations and an effective tender scheme are in place, we expect India’s offshore wind
industry will gain a real momentum,” he said.
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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
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U.S Texas’s Eagle Ford Crude output increasing since Feb.-2022
U.S. Energy Information Administration, Drilling Productivity Report
According to our latest Drilling Productivity Report, we estimate that crude oil production in
the Eagle Ford region in southern Texas will average 1.2 million barrels per day (b/d) during
September 2022. Despite recent increases, less crude oil is being produced in the Eagle Ford region
than before the pandemic—1.4 million b/d in April 2020—and much less tputan the all-time high of
1.7 million b/d in March 2015.
Because prices increased, we estimate that economically recoverable oil resources (the amount of
recoverable oil that producers believe can be profitably produced) in the Eagle Ford formation,
increased to 8.4 billion barrels in the first half of 2022, an increase from 0.5 billion barrels in 2020.
Between 2020 and the first half of 2022, crude oil prices more than doubled, according to our
analysis, incentivizing future development in previously marginal areas.
This analysis of the Eagle Ford formation focuses on proved reserves and economically recoverable
resources. Proved reserves are volumes of crude oil and natural gas that data demonstrate with
reasonable certainty can be recoverable in future years from known reservoirs, considering existing
economic and operating conditions.
In contrast, economically recoverable resources vary considerably depending on price and cost
assumptions. Economically recoverable resources represent a less certain estimate of future crude
oil and natural gas volumes and production.
If prices are too low to provide a return on the investment of developing the well, producers will not
invest in drilling the well. The Eagle Ford formation produces both crude oil and natural gas, so
profitability is not only based on past crude oil or natural gas production rates but also on producers’
forecasts of future prices for natural gas and crude oil.
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NewBase August 26 -2022 Khaled Al Awadi
NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
Oil Posts Weekly Gain as Saudi Warning Lingers Over Market
Oil prices ended higher on Friday, boosted by signals from Saudi Arabia that OPEC could cut output,
but trading was volatile as investors digested and ultimately shrugged off warnings from the head
of the U.S. Federal Reserve about economic pain ahead.
Brent crude futures rose $1.65 to settle at $100.99 a barrel. U.S. West Texas Intermediate (WTI)
crude futures rose 54 cents to settle at $93.06 a barrel. Both contracts rose and fell by $1 throughout
the session.
Overall, Brent gained 4.4% for the week, while WTI was set to rise 2.5%.
West Texas Intermediate futures settled at $93.06 a barrel on Friday for a 2.5% weekly gain. Prices
have been buoyed since the Saudi oil minister said the OPEC+ alliance may limit production to
stabilize a volatile market.
Meanwhile, the US central bank probably will continue raising interest rates to combat inflation,
Federal Reserve Chair Jerome Powell signaled. Higher rates are typically seen as damaging to
energy demand.
Oil price special
coverage
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“Powell reminded Wall Street that restrictive policy is required but we are not there yet, so recession
fears and a deteriorating crude demand outlook is not warranted yet,” said Ed Moya, senior market
analyst at Oanda.
Oil has lost almost a quarter of its value since June on escalating concerns over a global economic
slowdown, but seems to have found a floor around $90 a barrel this month. The prospect of a revived
nuclear deal with Iran, which could lead to a surge in crude exports, has added to bearish sentiment
recently.
With inflation still rampant, Fed officials revived concerns Friday that they would take continue to
move aggressively to slow the economy.
“Restoring price stability will likely require maintaining a restrictive policy stance for some time,”
Powell said in remarks prepared for a policy forum in Jackson Hole, Wyoming. “The historical record
cautions strongly against prematurely loosening policy.”
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U.S. natural gas price saw record volatility in Q1 of 2022
https://www.eia.gov/todayinenergy/detail.php?id=53579#
U.S. natural gas price volatility (a measure of daily price changes) reached its highest level in 20
years, hitting record highs in the first quarter (January–March) of 2022. The 30-day historical
volatility of U.S. natural gas prices, which is based on the U.S. benchmark Henry Hub front-month
futures price, averaged 179% in February compared with 57% during the first quarter of 2021.
Data source: Bloomberg L.P.
Note: Annualized percentage, a widely used trading measure of price volatility, is the standard
deviation for the previous 30 days of daily changes in the Henry Hub front-month futures price
multiplied by the square root of 252 (number of trading days in a year) multiplied by 100.
Percentages are averages for that period.
Historical volatility is a measure of daily closing price changes for a commodity at a specific time in
the past. During July, historical volatility was lower on a percentage basis, in part, because natural
gas prices were relatively higher than during the first quarter of this year.
The Henry Hub front-month futures price averaged $7.19 per million British thermal units (MMBtu)
during July compared with an average of $4.46/MMBtu during February. Natural gas price volatility
averaged 124% during the first quarter of 2022 and 75% during the second quarter.
Increased uncertainty about market conditions that affect natural gas supply and demand can result
in high price volatility. Events that have contributed to changing market conditions include:
 Production freeze-offs
 Storms
 Unplanned pipeline maintenance and outages
 Significant departures from normal weather
 Changes in inventory levels
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,
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 Availability of substitute fuels
 Changes in imports or exports
 Other sudden changes in demand
U.S. natural gas prices are typically more volatile during the first quarter of a year because of the
fluctuating demand for natural gas for space heating as weather changes. Factors that contributed
to heightened volatility in the first three months of this year include:
 Weather-driven fluctuations in natural gas demand
 Declining natural gas production in January and February
 Declines in Lower 48 states’ working natural gas levels
 Record U.S. LNG exports to Europe to help offset reduced natural gas supplies from Russia
Historical Henry Hub front-month natural gas price volatility fell to an average of 56% in April but
rose in subsequent months, averaging 109% in July. Warmer-than-normal temperatures and
increased domestic supply contributed to this increase in volatility.
The temporary shutdown of the Freeport LNG terminal in June decreased demand for feed gas by
2 billion cubic feet per day, generating a surplus of natural gas on the domestic market. The Henry
Hub futures price fell by 39% from June 10 to June 30.
In July, however, the warmer-than-normal temperatures across the Lower 48 states resulted in
increased natural gas demand in the electric power sector, absorbing much of the Freeport LNG-
related surplus. As a result, the natural gas futures price increased 52% in July compared with June.
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NewBase Specual Coverage
The Energy world –August -01 -2022
CLEAN ENERGY
The World’s Rivers, Canals and Reservoirs Are Turning to Dust
By : Brian K Sullivan
From the US to Italy to China, waters have receded, leaving nothing but barren banks of silt and
oozing, muddied sand. Canals are empty. Reservoirs have turned to dust.
The world is fully in the grip of accelerating climate change, and it has a profound economic impact.
Losing waterways means a serious risk to shipping routes, agriculture, energy supplies — even
drinking water.
Rivers that have been critical to commerce for centuries are now shriveled, threatening the global
movement of chemicals, fuel, food and other commodities.
The Rhine — a pillar of the German, Dutch and Swiss economies — has been virtually impassable
at times in recent weeks. The Danube, which winds its way 1,800 miles (roughly 2,900 kilometers)
through central Europe to the Black Sea, is gummed up too. Trade on Europe’s rivers and canals
contribute about $80 billion to the region’s economy just as a mode of transport.
The Lake Oroville reservoir in California at the Enterprise Bridge span on July 20, 2011, and on July 6, 2022.
Source: California Department of Water Resources via Getty Images; Photographer: David
McNew/Getty Images
In China, an extreme summer has taken a toll on Asia’s longest river, the Yangtze. Diminished water
levels have hobbled electricity generation at many key hydropower plants. Mega cities including
Shanghai are turning off lights to curb power use, and Tesla Inc. has warned of disruptions in the
supply chain for its local plant. Toyota Motor Corp. and Contemporary Amperex Technology Co.,
the world’s top maker of batteries for electric vehicles, have shuttered factories.
Drought plaguing the Colorado River — a source of water for 40 million people between Denver
and Los Angeles — has gotten so extreme that a second round of drastic water cuts are hitting
Arizona, Nevada, and Mexico. The river and its tributaries irrigate about 4.5 million acres of land,
generating about $1.4 trillion a year in agricultural and economic benefits.
The retreating waters of the US Southwest are exposing dead bodies and dinosaur footprints that
had been submerged for perhaps millions of years.
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Why Are Rivers Shrinking?
The reasons global waterways have dried to a trickle are complex. There’s the impact of the
weather-roiling La Nina, prolonged drought in many regions and also simple bad luck. But the
biggest driver underpinning the shift is climate change.
“It’s a combination of many factors leading to this particularly extreme event,” said Daniel Swain, a
climatologist at the University of California Los Angeles. “But there is clearly a role for climate
change, which made multiple underlying, record-breaking, and in some cases, record-shattering
heat waves dramatically more likely.”
The Earth’s rising temperatures have meant mountain ranges are getting less snow, leaving less
water to flow down to streams in summer during the melt, said Isla Simpson, a scientist at the
National Center for Atmospheric Research in Boulder, Colorado.
Mountain snow is nature’s reservoir. When snowfalls dwindle, the source of many rivers — from the
US to China to Europe to the Middle East— vanishes, said Swain of UCLA.
“The loss of snow and mountain glaciers in the Alps has been extraordinary this summer as well,
shocking even seasoned climatologists and glaciologists,” Swain said.
Then there is La Nina, a cooling of the equatorial Pacific Ocean that upsets global weather patterns,
bringing heavy rains to some areas and drought to others. The world is in its second straight La
Nina, and the odds are rising 2023 will see another one.
“The ongoing and strong La Nina connects the droughts and low river flows in North America,
Europe, Middle East and the southern hemisphere,” said Richard Seager, a research professor at
Columbia University’s Lamont Doherty Earth Observatory.
The world’s hotter temperatures also mean that waterways are literally evaporating away. Or as
Seager puts it, the warming atmosphere “is sucking more moisture from the land surface.”
The Loire River in Varades, France, on Aug. 18. Photographer: Jean-Michel Delage/Hans Lucas/Redux
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A man and his cows walk along water ponds on the dry river bed of Danube's Borcea branch in Roseti, southern
Romania, on Aug. 11. Photographer: Daniel Mihailescu/AFP/Getty Images
Houseboats on the dry bed of the Waal River near Beneden-Leeuwen in the Netherlands, on Aug. 10.
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A section of the dried up Guadiana River under the Puente de la Mesta medieval bridge in Villarta de los Montes, in
the central-western Spanish region of Extremadura, on Aug. 16.
Boats on the dried lake bed of a port in Velence, Hungary, on Aug. 11.
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A tributary of the Bacchiglione flowing through Padova, Italy, on Aug. 10.
A dried up Nailbourne river, which runs through Patrixbourne and Bridge near Canterbury in the UK, on Aug. 11.
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The Po river near Ficarolo, Italy, on July 27.
A man searches the exposed bed of the Rhine with a metal detector in Lobith, Netherlands, on July 30.
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An island on the Rhine near Bingen, Germany, which is home to the Bingen Mäuseturm, is accessible on foot due to
low water levels, on Aug. 14.
Low water levels on the exposed bed of the Rialb reservoir during a drought in La Baronia de Rialb, Spain, on Aug. 23.
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
The Tunca River, after water levels dropped due to agricultural irrigation and drought, in Edirne, Turkey, on Aug. 21.
A demonstrator approaches a boat stuck in the dried-up bank of a canal, during a rally at the Umm El Wadaa marsh,
south-east of the Iraqi city of Nasiriyah on Aug. 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 22
People walk on the dry riverbed of the Ganjiang River in Nanchang, China, on Aug. 22.
An exposed riverbed along the Jialing River near the confluence with the Yangtze River in Chongqing, China, on Aug. 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 23
Swimmers along the Yangtze River in Wuhan, China, on Aug. 22.
The Colorado River flows through relatively arid desert near Moab, Utah, on May 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 24
Biologists work to rescue the endangered Rio Grande silvery minnows from pools of water in the dry riverbed
in Albuquerque, New Mexico, on July 26.
Park visitors observe the bleached 'bathtub ring' that is visible on the banks of Lake Mead near the Hoover Dam in Arizona, on Aug. 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 25
NewBase Energy News 28 August 2022 - Issue No. 1542 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.
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 26
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 27
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 28
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 29
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 30

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NewBase August 28-2022 Energy News issue - 1542 by Khaled Al Awadi (AutoRecovered)_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 28 August 2022 No. 1542 Senior Editor Eng. Khaed Al Awadi NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE Global Energy Crisis Spurs a Revival of Nuclear Power in Asia Bloomberg - Stephen Stapczynski Asia is giving the once-shunned nuclear power industry a second lease on life, thanks to the global energy crisis. Governments in Japan and South Korea are removing anti-nuclear policies, while China and India are looking to build more reactors to avoid future supply shortages and curb emissions. Even developing nations across Southeast Asia are exploring atomic technology. The embracing of nuclear energy comes after the prices of natural gas and coal, the two fossil fuels used to generate most of Asia’s power, shot to records this year as Russia’s invasion of Ukraine upended markets. As the world shifts away from Russia, a major fuel exporter, supply will remain tight and prices high well into the future. That’s making clean and reliable nuclear power very attractive for policymakers and utilities eager to rein in inflation, achieve green goals and curb dependence on overseas energy suppliers. “Old resistances are crumbling surprisingly fast,” said David Hess, a policy analyst at the World Nuclear Association. “Existing nuclear plants produce some of the cheapest electricity. The skyrocketing natural gas price has made these obvious economic advantages all the more obvious.”
  • 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 It’s a dramatic turnaround for the nuclear industry, which spent the last few decades beset by cost overruns, competition from cheaper fossil fuels and stricter regulations. Delays to major nuclear projects resulted in the bankruptcy of industry pioneer Westinghouse Electric. While the nuclear power comeback is global, gaining proponents from the UK to Egypt, the shift is perhaps most surprising in Asia, considering it had the closest view of the catastrophe that struck Japan more than a decade ago. The future of nuclear was still looking bright until March 2011, when a massive tsunami hit the Fukushima Dai-Ichi plant in Japan, resulting in the worst meltdown in decades. The incident convinced some governments that nuclear power’s risks far outweighed its benefits, with Germany and Taiwan deciding to set deadlines to close down their fleets of plants. Mammoth costs of building new facilities, and frequent delays, also served as deterrents. Now, as power bills surge and nations deal with fossil fuel-induced inflation, governments are again looking to nuclear. It requires little uranium to operate, which is currently abundant, and it produces power around the clock, unlike intermittent renewable energy projects such as wind and solar. Also boosting the industry are advances in producing smaller and cheaper nuclear technology, including small modular reactors -- or SMRs -- which may become attractive alternatives as tools to tackle climate change. “Fear-based objections that grew from Fukushima have faded, as the extent of that accident was tempered by a decade of scientific research, and Asian countries face more acute – and deadly – threats from energy shortages,” said Brandon Munro, chief executive officer of Bannerman Energy Ltd., an Australian-listed uranium development company. That explains why Japan, which depends on imported fuel to produce most of its electricity, said this week that it will explore development and construction of next-generation reactors, while also
  • 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 pushing for the restart of more idled nuclear reactors. It’s a complete turnaround for Japan, which for the last decade said it wouldn’t build new units or replace old one. “Russia’s invasion changed the global energy situation,” Prime Minister Fumio Kishida said on Wednesday. “Nuclear power and renewables are essential to proceed with a green transformation.” Japan’s public is even warming up to nuclear. Some 58% of residents favored restarting nuclear power in a Yomiuri poll conducted earlier this month, representing the first time support has outweighed opposition since the newspaper began the survey in 2017. A similar shift is taking place in South Korea. Voters this year elected a pro-nuclear president who wants atomic energy to account for 30% of total energy generation, reversing the previous government’s plan to ditch reactors. He also vowed to make the nation a major exporter of nuclear equipment and technology, and integrate atomic power and renewable energy to push for carbon neutrality. China, which is currently grappling with a historic heat wave that’s resulted in power shortages in parts of the country, said this week that it will accelerate nuclear power and hydro projects. The nation is in the midst of the largest build-out of reactors in the nuclear industry’s history to meet its insatiable energy demand, while also curbing dependence on dirty coal-fired power plants. China currently has nearly 24 gigawatts worth of nuclear power capacity under construction, and another
  • 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 34 gigawatts planned, according to WNA data. If all of that comes to fruition, China will become the world’s top nuclear power producer. Prime Minister Narendra Modi’s expansion into atomic energy is also gaining momentum as India’s largest power producer looks to develop two massive nuclear power projects. The country currently generates about 70% of its electricity using coal and around 3% from nuclear, but Modi is aiming to more than triple its nuclear fleet over the next decade. Even cash-strapped nations across Southeast Asia are looking at nuclear power. Philippine President Ferdinand Marcos Jr. told Congress last month that he will explore nuclear plants to bring down power costs and boost energy sufficiency. Indonesia plans to start its first nuclear plant in 2045, part of an ambitious goal to reach net-zero emissions by 2060. The island state of Singapore said earlier this year that next-generation nuclear or geothermal technology could make up 10% of its energy mix by 2050. While the details are hazy, that’s a shift from a decade ago when the country concluded that conventional reactors weren’t suitable. Not all governments in Asia are convinced. Taiwan hasn’t changed its position to phase out nuclear power. It plans to shut its reactors at the end of their 40-year lifetimes through 2025, the Ministry of Economic Affairs said earlier this week, according to the Taipei Times. And Europe has shown that even having an enormous fleet of reactors doesn’t always ensure power supply. France, one of the world’s top nuclear power producers, is grappling with record-high electricity prices due in part to a litany of reactor outages.
  • 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 Meanwhile, next-generation projects such as SMRs are still years or even decades away, and don’t present an immediate fix to the current energy crunch. But governments and companies are moving to endorse the technology now to avoid the crises of tomorrow. South Korean conglomerate SK Group said this month it will invest $250 million in Bill Gates-backed TerraPower LLC. In March, the Japan Bank for International Cooperation invested $110 million in Nuscale Power, which is developing SMRs. “Each country faces its own individual challenges in implementing its nuclear program,” said WNA’s Hess. “But recent events have seen these obstacles disappear or shrink considerably.”
  • 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 Korean group inks $2.2bn Egypt nuclear plant contract Bloomberg + NewBase South Korea has signed a $2.2 billion deal with Russia’s state-owned Rosatom to provide buildings and components for a new Egyptian nuclear plant, reported Bloomberg. The state-owned South Korea Hydro & Nuclear Power Company had won the contract to supply buildings, equipment and materials for Egypt’s El Dabaa project, according to a statement from South Korea’s energy ministry. The Korean group emerged the sole bidder for the portion of El Dabaa project in December 2021, and will construct the main and auxiliary buildings and structures of the turbine islands for the units KHNP said it plans to hold a briefing for local nuclear power-related companies in September to facilitate the participation of domestic nuclear equipment manufacturers in the construction of El Dabaa. The company added it will push ahead with contracts for all equipment as soon as possible. "Winning the order for the construction project in El Dabaa is an important achievement that has proven Korea's excellent construction capabilities and business management capabilities from the UAE project," said Whang Joo-ho, CEO of KHNP. Construction of the nuclear reactor building of the first unit of the El Dabaa project began in July. The first unit is expected to begin commercial operations in 2028. A rendered image shows four nuclear power plants that Korea Hydro & Nuclear Power (KHNP) will construct in El Dabaa, Egypt. Courtesy of KHNP
  • 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 ndia attract Norway’s KLP to invest in 420 MW Solar project CNBC Anmar Frangoul + NewBase India is targeting a major ramp up of its renewable energy capacity, but achieving its aims represents a big challenge. Norway’s Climate Investment Fund and the country’s biggest pension company, KLP, are set to invest in a 420-megawatt solar power project being developed in Rajasthan, India. The two parties will invest around 2.8 billion Indian rupees (roughly $35 million) for a 49% stake in the Thar Surya 1 project, which is being constructed by Italian firm Enel Green Power. According to an announcement from the Norwegian Embassy in India, the Climate Investment Fund is slated to allocate 10 billion Norwegian Krone (approximately $1 billion) to projects over the next five years. The embassy also described India, which is on track to become the planet’s most populous country next year, as a “priority market.” That comes as Norway’s development finance institution, Norfund — which manages the Climate Investment Fund — and Enel Green Power have established an India-focused strategic investment partnership. “This is the first investment we are making with Enel, and together we have great ambitions to contribute with similar investments in India in the years to come,” Tellef Thorleifsson, CEO of Norfund, said in a statement issued Monday.  The Thar Surya 1 project, in Rajasthan, India is being constructed by Italian firm Enel Green Power.  Norwegian embassy describes India, which is on track to become the planet’s most populous country, as a “priority market.”  India wants its renewable energy capacity — excluding large hydro — to hit 175 GW this year, a challenging target.
  • 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 While it is investing in renewable energy projects, Norway’s oil and gas reserves make it a major exporter of fossil fuels. “In recent years, Norway has supplied between 20 and 25 per cent of the EU and United Kingdom gas demand,” Norwegian Petroleum says. “Nearly all oil and gas produced on the Norwegian shelf is exported, and combined, oil and gas exceeds half of the total value of Norwegian exports of goods,” it adds. India’s goals India’s Ministry of New and Renewable Energy says that, over the past seven and a half years, the country’s solar capacity has increased from around 2.6 gigawatts to over 46 gigawatts. India wants its renewable energy capacity — excluding large hydro — to hit 175 GW this year, a challenging target. On June 30, installed renewable energy capacity, excluding large hydro, stood at 114.07 GW, according to a recent statement from India’s minister of state for new and renewable energy. Despite its renewable energy goals, India remains reliant on fossil fuels. At the end of June, fossil fuels’ share of India’s total installed generation capacity stood at 58.5%, according to the Ministry of Power. At last year’s COP26 climate change summit, India and China, both among the world’s biggest burners of coal, insisted on a last- minute change of fossil fuel language in the Glasgow Climate Pact — from a “phase out” of coal to a “phase down.” After initial objections, opposing countries ultimately conceded. During a speech delivered to The Energy and Resources Institute’s World Sustainable Development Summit in Feb. 2022, Indian Prime Minister Narendra Modi said he firmly believed that “environmental sustainability can only be achieved through climate justice.” “Energy requirements of the people of India are expected to nearly double in the next twenty years,” Modi said. “Denying this energy would be denying life itself to millions. Successful climate actions also need adequate financing.” He added, “For this, developed countries need to fulfill their commitments on finance and technology transfer.” European interest The Norwegian interest in India’s renewable energy sector represents the latest example of major organizations and businesses making a play in the country. Earlier this year, for example, German energy giant RWE and India’s Tata Power announced a collaboration focused on developing offshore wind projects in India. “India has excellent wind resources, which can help to meet the country’s increasing energy demands,” Sven Utermohlen, RWE Renewables’ CEO for offshore wind, said in a statement. “If clear regulations and an effective tender scheme are in place, we expect India’s offshore wind industry will gain a real momentum,” he said.
  • 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 U.S Texas’s Eagle Ford Crude output increasing since Feb.-2022 U.S. Energy Information Administration, Drilling Productivity Report According to our latest Drilling Productivity Report, we estimate that crude oil production in the Eagle Ford region in southern Texas will average 1.2 million barrels per day (b/d) during September 2022. Despite recent increases, less crude oil is being produced in the Eagle Ford region than before the pandemic—1.4 million b/d in April 2020—and much less tputan the all-time high of 1.7 million b/d in March 2015. Because prices increased, we estimate that economically recoverable oil resources (the amount of recoverable oil that producers believe can be profitably produced) in the Eagle Ford formation, increased to 8.4 billion barrels in the first half of 2022, an increase from 0.5 billion barrels in 2020. Between 2020 and the first half of 2022, crude oil prices more than doubled, according to our analysis, incentivizing future development in previously marginal areas. This analysis of the Eagle Ford formation focuses on proved reserves and economically recoverable resources. Proved reserves are volumes of crude oil and natural gas that data demonstrate with reasonable certainty can be recoverable in future years from known reservoirs, considering existing economic and operating conditions. In contrast, economically recoverable resources vary considerably depending on price and cost assumptions. Economically recoverable resources represent a less certain estimate of future crude oil and natural gas volumes and production. If prices are too low to provide a return on the investment of developing the well, producers will not invest in drilling the well. The Eagle Ford formation produces both crude oil and natural gas, so profitability is not only based on past crude oil or natural gas production rates but also on producers’ forecasts of future prices for natural gas and crude oil.
  • 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 August 26 -2022 Khaled Al Awadi NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE Oil Posts Weekly Gain as Saudi Warning Lingers Over Market Oil prices ended higher on Friday, boosted by signals from Saudi Arabia that OPEC could cut output, but trading was volatile as investors digested and ultimately shrugged off warnings from the head of the U.S. Federal Reserve about economic pain ahead. Brent crude futures rose $1.65 to settle at $100.99 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose 54 cents to settle at $93.06 a barrel. Both contracts rose and fell by $1 throughout the session. Overall, Brent gained 4.4% for the week, while WTI was set to rise 2.5%. West Texas Intermediate futures settled at $93.06 a barrel on Friday for a 2.5% weekly gain. Prices have been buoyed since the Saudi oil minister said the OPEC+ alliance may limit production to stabilize a volatile market. Meanwhile, the US central bank probably will continue raising interest rates to combat inflation, Federal Reserve Chair Jerome Powell signaled. Higher rates are typically seen as damaging to energy demand. 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 “Powell reminded Wall Street that restrictive policy is required but we are not there yet, so recession fears and a deteriorating crude demand outlook is not warranted yet,” said Ed Moya, senior market analyst at Oanda. Oil has lost almost a quarter of its value since June on escalating concerns over a global economic slowdown, but seems to have found a floor around $90 a barrel this month. The prospect of a revived nuclear deal with Iran, which could lead to a surge in crude exports, has added to bearish sentiment recently. With inflation still rampant, Fed officials revived concerns Friday that they would take continue to move aggressively to slow the economy. “Restoring price stability will likely require maintaining a restrictive policy stance for some time,” Powell said in remarks prepared for a policy forum in Jackson Hole, Wyoming. “The historical record cautions strongly against prematurely loosening policy.”
  • 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 U.S. natural gas price saw record volatility in Q1 of 2022 https://www.eia.gov/todayinenergy/detail.php?id=53579# U.S. natural gas price volatility (a measure of daily price changes) reached its highest level in 20 years, hitting record highs in the first quarter (January–March) of 2022. The 30-day historical volatility of U.S. natural gas prices, which is based on the U.S. benchmark Henry Hub front-month futures price, averaged 179% in February compared with 57% during the first quarter of 2021. Data source: Bloomberg L.P. Note: Annualized percentage, a widely used trading measure of price volatility, is the standard deviation for the previous 30 days of daily changes in the Henry Hub front-month futures price multiplied by the square root of 252 (number of trading days in a year) multiplied by 100. Percentages are averages for that period. Historical volatility is a measure of daily closing price changes for a commodity at a specific time in the past. During July, historical volatility was lower on a percentage basis, in part, because natural gas prices were relatively higher than during the first quarter of this year. The Henry Hub front-month futures price averaged $7.19 per million British thermal units (MMBtu) during July compared with an average of $4.46/MMBtu during February. Natural gas price volatility averaged 124% during the first quarter of 2022 and 75% during the second quarter. Increased uncertainty about market conditions that affect natural gas supply and demand can result in high price volatility. Events that have contributed to changing market conditions include:  Production freeze-offs  Storms  Unplanned pipeline maintenance and outages  Significant departures from normal weather  Changes in inventory levels
  • 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  Availability of substitute fuels  Changes in imports or exports  Other sudden changes in demand U.S. natural gas prices are typically more volatile during the first quarter of a year because of the fluctuating demand for natural gas for space heating as weather changes. Factors that contributed to heightened volatility in the first three months of this year include:  Weather-driven fluctuations in natural gas demand  Declining natural gas production in January and February  Declines in Lower 48 states’ working natural gas levels  Record U.S. LNG exports to Europe to help offset reduced natural gas supplies from Russia Historical Henry Hub front-month natural gas price volatility fell to an average of 56% in April but rose in subsequent months, averaging 109% in July. Warmer-than-normal temperatures and increased domestic supply contributed to this increase in volatility. The temporary shutdown of the Freeport LNG terminal in June decreased demand for feed gas by 2 billion cubic feet per day, generating a surplus of natural gas on the domestic market. The Henry Hub futures price fell by 39% from June 10 to June 30. In July, however, the warmer-than-normal temperatures across the Lower 48 states resulted in increased natural gas demand in the electric power sector, absorbing much of the Freeport LNG- related surplus. As a result, the natural gas futures price increased 52% in July compared with June.
  • 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 NewBase Specual Coverage The Energy world –August -01 -2022 CLEAN ENERGY The World’s Rivers, Canals and Reservoirs Are Turning to Dust By : Brian K Sullivan From the US to Italy to China, waters have receded, leaving nothing but barren banks of silt and oozing, muddied sand. Canals are empty. Reservoirs have turned to dust. The world is fully in the grip of accelerating climate change, and it has a profound economic impact. Losing waterways means a serious risk to shipping routes, agriculture, energy supplies — even drinking water. Rivers that have been critical to commerce for centuries are now shriveled, threatening the global movement of chemicals, fuel, food and other commodities. The Rhine — a pillar of the German, Dutch and Swiss economies — has been virtually impassable at times in recent weeks. The Danube, which winds its way 1,800 miles (roughly 2,900 kilometers) through central Europe to the Black Sea, is gummed up too. Trade on Europe’s rivers and canals contribute about $80 billion to the region’s economy just as a mode of transport. The Lake Oroville reservoir in California at the Enterprise Bridge span on July 20, 2011, and on July 6, 2022. Source: California Department of Water Resources via Getty Images; Photographer: David McNew/Getty Images In China, an extreme summer has taken a toll on Asia’s longest river, the Yangtze. Diminished water levels have hobbled electricity generation at many key hydropower plants. Mega cities including Shanghai are turning off lights to curb power use, and Tesla Inc. has warned of disruptions in the supply chain for its local plant. Toyota Motor Corp. and Contemporary Amperex Technology Co., the world’s top maker of batteries for electric vehicles, have shuttered factories. Drought plaguing the Colorado River — a source of water for 40 million people between Denver and Los Angeles — has gotten so extreme that a second round of drastic water cuts are hitting Arizona, Nevada, and Mexico. The river and its tributaries irrigate about 4.5 million acres of land, generating about $1.4 trillion a year in agricultural and economic benefits. The retreating waters of the US Southwest are exposing dead bodies and dinosaur footprints that had been submerged for perhaps millions of years.
  • 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 Why Are Rivers Shrinking? The reasons global waterways have dried to a trickle are complex. There’s the impact of the weather-roiling La Nina, prolonged drought in many regions and also simple bad luck. But the biggest driver underpinning the shift is climate change. “It’s a combination of many factors leading to this particularly extreme event,” said Daniel Swain, a climatologist at the University of California Los Angeles. “But there is clearly a role for climate change, which made multiple underlying, record-breaking, and in some cases, record-shattering heat waves dramatically more likely.” The Earth’s rising temperatures have meant mountain ranges are getting less snow, leaving less water to flow down to streams in summer during the melt, said Isla Simpson, a scientist at the National Center for Atmospheric Research in Boulder, Colorado. Mountain snow is nature’s reservoir. When snowfalls dwindle, the source of many rivers — from the US to China to Europe to the Middle East— vanishes, said Swain of UCLA. “The loss of snow and mountain glaciers in the Alps has been extraordinary this summer as well, shocking even seasoned climatologists and glaciologists,” Swain said. Then there is La Nina, a cooling of the equatorial Pacific Ocean that upsets global weather patterns, bringing heavy rains to some areas and drought to others. The world is in its second straight La Nina, and the odds are rising 2023 will see another one. “The ongoing and strong La Nina connects the droughts and low river flows in North America, Europe, Middle East and the southern hemisphere,” said Richard Seager, a research professor at Columbia University’s Lamont Doherty Earth Observatory. The world’s hotter temperatures also mean that waterways are literally evaporating away. Or as Seager puts it, the warming atmosphere “is sucking more moisture from the land surface.” The Loire River in Varades, France, on Aug. 18. Photographer: Jean-Michel Delage/Hans Lucas/Redux
  • 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 A man and his cows walk along water ponds on the dry river bed of Danube's Borcea branch in Roseti, southern Romania, on Aug. 11. Photographer: Daniel Mihailescu/AFP/Getty Images Houseboats on the dry bed of the Waal River near Beneden-Leeuwen in the Netherlands, on Aug. 10.
  • 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 A section of the dried up Guadiana River under the Puente de la Mesta medieval bridge in Villarta de los Montes, in the central-western Spanish region of Extremadura, on Aug. 16. Boats on the dried lake bed of a port in Velence, Hungary, on Aug. 11.
  • 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 A tributary of the Bacchiglione flowing through Padova, Italy, on Aug. 10. A dried up Nailbourne river, which runs through Patrixbourne and Bridge near Canterbury in the UK, on Aug. 11.
  • 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 19 The Po river near Ficarolo, Italy, on July 27. A man searches the exposed bed of the Rhine with a metal detector in Lobith, Netherlands, on July 30.
  • 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 20 An island on the Rhine near Bingen, Germany, which is home to the Bingen Mäuseturm, is accessible on foot due to low water levels, on Aug. 14. Low water levels on the exposed bed of the Rialb reservoir during a drought in La Baronia de Rialb, Spain, on Aug. 23.
  • 21. 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 The Tunca River, after water levels dropped due to agricultural irrigation and drought, in Edirne, Turkey, on Aug. 21. A demonstrator approaches a boat stuck in the dried-up bank of a canal, during a rally at the Umm El Wadaa marsh, south-east of the Iraqi city of Nasiriyah on Aug. 16.
  • 22. 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 22 People walk on the dry riverbed of the Ganjiang River in Nanchang, China, on Aug. 22. An exposed riverbed along the Jialing River near the confluence with the Yangtze River in Chongqing, China, on Aug. 17.
  • 23. 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 23 Swimmers along the Yangtze River in Wuhan, China, on Aug. 22. The Colorado River flows through relatively arid desert near Moab, Utah, on May 19.
  • 24. 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 24 Biologists work to rescue the endangered Rio Grande silvery minnows from pools of water in the dry riverbed in Albuquerque, New Mexico, on July 26. Park visitors observe the bleached 'bathtub ring' that is visible on the banks of Lake Mead near the Hoover Dam in Arizona, on Aug. 19.
  • 25. 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 25 NewBase Energy News 28 August 2022 - Issue No. 1542 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.
  • 26. 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 26
  • 27. 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 27
  • 28. 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 28
  • 29. 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 29
  • 30. 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 30