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NewBase Energy News 22 April 2024 No. 1718 Senior Editor Eng. Khaled Al Awadi
NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
UAE and Colombia aims to attract UAE investment worth $700
million after signing Cepa
The National - Fareed Rahman + NewBase
Colombia aims to attract investment between $600 million and $700 million after the South
American country signed the Comprehensive Economic Partnership Agreement (Cepa) with the
UAE on Friday.
The new investment from the UAE is expected to be made in sectors including green
hydrogen and digital economy, according to Colombia’s trade, industry and tourism minister.
The new deal “will enhance the trade and investment co-operation between the two countries, with
the participation of their private sectors in business, services, trade, investment, and other vital
sectors that will have a positive economic impact”, German Mendoza told the state-run news
agency Wam.
“It will open a new trade corridor between South America and the Middle East, which are key
markets with more than 800 million consumers.”
ww.linkedin.com/in/khaled-al-awadi-80201019/
Green hydrogen and digital economy will provide new investment
opportunities for investors, South American nation's trade minister
says
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The UAE and Colombia have continued to strengthen economic ties, with non-oil trade between
the two countries rising by 43 per cent in 2023 to reach a record $53.1 million, more than double
the total achieved in 2021.
The two countries have also signed co-operation agreements in renewable energy, environment,
hydrogen, travel, free zones and artificial intelligence.
“The UAE-Colombia Cepa will open a promising new chapter in deepening economic ties between
the two nations, enabling businesses to benefit from access to not only each other’s markets but
also their respective regions,” said President Sheikh Mohamed, who witnessed the signing of the
agreement along with the Colombian President Gustavo Petro.
The Arab world’s second largest economy aims to boost non-oil foreign trade to more than Dh4
trillion ($1 trillion) by 2031 with new trade deals.
It has so far concluded Cepas with India, Turkey, Israel, Indonesia, Cambodia, Georgia, as well as
with Mauritius, Kenya, the Republic of Congo, Colombia and Costa Rica.
The UAE's plans to invest in Colombia’s green hydrogen sector come as the country positions
itself as a major hydrogen producer with plans to export to global markets.
The UAE is not leaving “any stones unturned” to reach its goal of becoming a major hydrogen
producer and exporter, a Ministry of Energy and Infrastructure official said last year.
The Emirates, which has shipped test cargoes of blue ammonia to countries such as Germany
and Japan, is working with the International Partnership for Hydrogen and Fuel Cells in the
Economy (IPHE) and the EU Commission to agree on a standard certification process for the
export of the low-carbon fuel.
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“Eventually, when we are to export hydrogen, the certification requirements need to match with
the importing country,” said Sharif Al Olama, the ministry's Undersecretary for Energy and
Petroleum Affairs.
Hydrogen comes in various forms, including blue, green, and grey. Blue and grey hydrogen are
produced from natural gas, while green is derived from splitting water molecules by electrolysis.
The UAE aims to reach hydrogen production of 1.4 million tonnes annually by 2031. The target is
then to reach 15 million tonnes of annual production by 2050.
Colombia renewable energy billion in investment
View of a hybrid power park with solar panels and wind turbines in Sabugal, Portugal, January 12,
2023. REUTERS/Pedro Nunes/File Photo Purchase Licensing Rights, opens new tab
BOGOTA, Jan 25 (Reuters) - Colombia's
renewable energy sector could get
investment of up to $2.2 billion in 2024
across 66 projects that are soon to enter
production or waiting to complete
paperwork, renewable energy association
SER Colombia said on Thursday.
Colombia has set its sights on developing
renewable energy sources, such as solar,
wind and geothermal, as part of President
Gustavo Petro's goal to wean the major
regional coal and oil producer off its
dependence on fossil fuels.
However, some renewable projects have faced significant hurdles, including onshore and offshore
wind farms in the north of the country, due to resistance from Indigenous communities and
regulatory delays.
"First of all we have to be realistic and conscious that this process advances step by step," said
SER Colombia Chief Executive Alexandra Hernandez. Electricity capacity across Colombia's
offering of non-conventional renewable energy projects at the end of 2023 stood at 504
megawatts (MW), SER Colombia said in a report.
However, the Andean country is set to extend that capacity by 1,240 MW across 22 projects in
2024, with up to an additional 1,800 MW in 44 projects that are pending permissions and other
administrative procedures, the report said.
Sixty-five of the projects are for solar energy, while one is for a battery energy storage system, the
report added.
Colombia's nascent renewable energy industry faces challenges in the form of lengthy execution
times for projects to start entering the market, which in turn hampers financing and investment, the
report added.
The average time it takes a small renewable energy project to start operating in the country is
between around three to six years, 70% of which is taken up by some 15 administrative
processes, the report found.
"We call for easing the execution of these projects," the report said. "Current entry times to start
operating ... are excessively large compared to the size and impact times of the projects.
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Abu Dhabi summit sets out roadmap to future fuels economy
TradeArabia News Service
Abu Dhabi Future Energy Company (Masdar) has hailed the conclusion of a highly successful
Green Hydrogen Summit focused on accelerating the development of the global green hydrogen
economy and supporting the energy transition.
Under the theme, Building the Hydrogen Economy: From
Dialogue to Reality, the summit assembled an impressive line-
up of stakeholders including ministerial speakers from the
UAE, Azerbaijan, Japan and the Netherlands, policymakers,
industry leaders, forward-thinking investors and pioneering
entrepreneurs.
UAE’s clean energy powerhouse Masdar pointed out that the
summit witnessed global hydrogen players engaging in
insightful discussions on many critical topics, ranging from the
role of hydrogen in UAE, Europe, the US and Asia, its potential for industries such as steel and
transportation and how to make projects more bankable.
At the two-day event, Abu Dhabi’s low-carbon hydrogen policy and its potential to attract
innovators, technology providers and key players in the green hydrogen sector while enabling
Masdar to start developing cost effective, technology-driven, pioneering green hydrogen projects
were also highlighted.
Masdar CEO Mohamed Jameel Al Ramahi said this year’s Summit assembled a highly impressive
list of speakers and panelists who provided great insights into the enormous potential of the green
hydrogen economy, while also addressing some of the challenges.
"Green hydrogen is a vital element of a sustainable energy transition for the UAE and global
decarbonization efforts and Masdar is working hard to accelerate investment in green hydrogen to
advance the sector and support the diversification of the UAE’s economy and the global clean
energy transition," he noted.
The summit's keynote speaker, former UK prime minister Boris Johnson, praised the UAE as one
of the world’s great centres of technological innovation and highlighted its longstanding ties with
UK on renewable energy projects in the past and into the future, including green hydrogen.
He also commended Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology,
Chairman of Masdar and President of COP28, for his leadership in delivering the UAE Consensus
at COP28.
In his address, Dr Bertrand Piccard, Chairman of Climate Impulse, who is planning the first
hydrogen-powered flight to circumnavigate the planet, stressed the importance of the Summit and
the work of Masdar in advancing the development and progress of green hydrogen.
Parviz Shahbazov, Minister of Energy for Azerbaijan, Yoshida Nobuhiro, Parliamentary Vice-
Minister of Economy, Trade and Industry for Japan and Frederik Wisselink, Energy Envoy,
Ministry of Economic Affairs and Climate Policy, The Netherlands, outlined national strategies and
policies to accelerate green hydrogen economies.
The summit ended with a demonstration of Net Zero Navigator, the AI-driven platform which
enables cross-referencing of current financial mechanisms, best policy environments and
partnership models to allow the development and scaling of technologies, innovations and
strategies to achieve net zero faster.-
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Oman: TotalEnergies launches the Marsa 1 MT/Y new LNG project
Source: TotalEnergies
During a visit in Muscat on April 21st, Patrick Pouyanné, Chairman and CEO of TotalEnergies met
with His Majesty Sultan Haitham bin Tariq Al Said and His Excellency Eng. Salim bin Nasser Al
Aufi, Minister of Energy & Minerals, to reaffirm the long-term partnership between TotalEnergies
and the Sultanate of Oman.
On the occasion of this visit, Patrick Pouyanné and Mr. Mulham Basheer Al Jarf, Chairman of OQ,
the Oman National Oil Company,
announced the Final Investment
Decision (FID) of the Marsa LNG
project.
TotalEnergies had signed a Sale
and Purchase Agreement (SPA) with
Oman LNG to offtake 0.8 Mtpa of
LNG for ten years from 2025,
making the Company one of the
main offtakers of Oman LNG's
production.
Finally, TotalEnergies (49%) and OQ
Alternative Energy (51%), the
national renewable energy
champion, have confirmed being at
an advanced stage of discussions
to jointly develop a portfolio of up to
800 MW, including the 300 MWp
solar project that will supply Marsa
LNG.
Marsa LNG, an innovative integrated project
Through their joint company Marsa Liquefied Natural Gas, TotalEnergies (80%) and OQ (20%)
launch the integrated Marsa LNG project which combines:
 upstream gas production: 150 Mcf/d of natural gas, coming from the 33.19% interest held
by Marsa in the Mabrouk North-East field on onshore Block 10, which will provide the
required feedstock for the LNG plant. Block 10 production started in January 2023 and
reached plateau in April 2024. The FID allows Marsa LNG to extend its rights in Block 10
until its term in 2050.
 downstream gas liquefaction: a 1 Mt/y capacity LNG liquefaction plant will be built in the
port of Sohar. The LNG production is expected to start by first quarter 2028 and is primarily
intended to serve the marine fuel market (LNG bunkering) in the Gulf. LNG quantities not
sold as bunker fuel will be off-taken by TotalEnergies (80%) and OQ (20%).
 renewable power generation: a dedicated 300 MWp PV solar plant will be built to cover
100% of the annual power consumption of the LNG plant, allowing a significant reduction in
greenhouse gas emissions.
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Setting very low carbon intensity standards for the next generation of LNG plants
The Marsa LNG plant will be 100% electrically driven and supplied with solar power, positioning
the site as one of the lowest GHG emissions intensity LNG plants ever built worldwide, with a
GHG intensity below 3 kg CO2e/boe. (for reference, the average emission intensity of LNG plants
is around 35 kg CO2e/boe - this represents a reduction in emissions of more than 90%) .
The main Engineering, Procurement and Construction contracts have been awarded to Technip
Energies for the LNG plant and to CB&I for the 165,000 m3 LNG tank.
The Marsa LNG project will generate long-term employment opportunities and significant socio-
economic benefits for the city of Sohar and the region.
The first LNG bunkering hub in the Middle East
The ambition of the Marsa LNG project is to serve as the first LNG bunkering hub in the Middle
East, showcasing an available and competitive alternative marine fuel to reduce the shipping
industry's emissions. Compared to conventional marine fuel, LNG helps to cut:
 Greenhouse gas emissions by up to 23%,
 Nitrogen oxide emissions by up to 85%.
 Sulfur emissions by 99%,
 Fine particle emissions by 99%.
'We are proud to open a new chapter in our history in the Sultanate of Oman with the launch of the
Marsa LNG project, together with our partner OQ, demonstrating our long-term commitment to the
country.
We are especially pleased to deploy the two pillars of our transition strategy, LNG and
renewables, and thus support the Sultanate on a new scale in the sustainable development of its
energy resources', said Patrick Pouyanné, Chairman and CEO of TotalEnergies.
'This very innovative project illustrates our pioneer spirit and showcases the relevance of our
integrated multi-energy strategy, with the ambition of being a responsible player in the energy
transition. By paving the way for the next generation of very low emission LNG plants, Marsa LNG
is contributing to making gas a long-term transition energy.'
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publication. However, no warranty is given to the accuracy of its content. Page 7
NewBase April 22-2024 Khaled Al Awadi
NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
Oil prices fall more than 1% as Middle East tensions ease
Reuters + NewBase
Oil prices fell by more than 1% ( but later recovered losses ) on Monday, as the market focus
switched to fundamentals after Israel and Iran played down the risk of an escalation of hostilities
following Israel's apparently small strike on Iran.
Brent futures fell $ 0.57, or 0.65%, to $87.72 a barrel by 1036 GMT. The front-month U.S. West
Texas Intermediate (WTI) crude contract for May , which expires on Monday, fell 30 cents, or
0.36%, to $82.84 a barrel, while the more active June contract dropped $1.23 to $80.99 a barrel.
"Brent crude prices failed to retain their initial surge, with broad expectations that geopolitical
tensions between Israel and Iran may fizzle off given Iran's tamed response," said Yeap Jun
Rong, market strategist at IG.
"With that, markets continue to unwind the geopolitical risk premium tied to potential supply
disruptions, which seems more unlikely at current point in time," he added.
Both benchmarks spiked more than $3 a barrel early on Friday, after explosions were heard in the
Iranian city of Isfahan in what sources described as an Israeli attack. Gains were capped after
Tehran played down the incident and said it did not plan to retaliate.
Yeap said rising U.S. crude stocks had added to the pressure to sell.
Oil price special
coverage
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U.S. crude inventories rose by 2.7 million barrels, Energy Information Administration data showed
last week, nearly double analysts' expectations of a 1.4 million barrel rise.
"Economic concerns again become a bearish factor of the crude market," with prices "under
pressure due to a large build in the U.S. stockpile and a hawkish Fed that led to a strong dollar,"
said independent market analyst Tina Teng. A strong dollar makes oil more expensive for holders
of other currencies.
Chicago Federal Reserve President Austan Goolsbee on Friday became the latest central banker
to signal a longer timeline for interest rate cuts because progress on curbing inflation had stalled.
On Saturday, the U.S. House of Representatives passed an aid package for Ukraine and Israel
containing measures that would let the federal government expand sanctions against Iran and its
oil production.
But markets shrugged off the news as the impact of the measures, if passed, would depend on
how they are interpreted and implemented. Senate consideration of the bill is set to begin on
Tuesday.
For now, ANZ analysts said in a note that volatility in the Middle East will keep oil markets "jittery".
On Saturday, a blast at an Iraqi military base killed a member of a security force that includes Iran-
backed groups. The force commander said it was an attack while the army said it was
investigating.
Separately, Iran-backed Lebanese group Hezbollah on Sunday said it downed an Israeli drone
that was on a combat mission in southern Lebanon.
Israeli forces and Lebanon's armed group Hezbollah have been exchanging fire for over six
months in parallel to the Gaza war, fuelling concerns about further escalation.
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 Hawk Energy Sees Oil at $85-$100 This Year With Strong Demand Growth
 That’s a ‘ foreseeable & sensible range,’ Hawk Energy CEO M. Al Shihabi says
 Demand set to grow to 104 MBD up by 2.0 MBD, in 2024: Al Awadhi says
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NewBase Specual Coverage
The Energy world –April 22 -2024
CLEAN ENERGY
How a Jack Dorsey-backed bitcoin miner uses a volcano in
Kenya to turn on the lights in rural homes
CNBC - MacKenzie Sigalos@KENZIESIGALOS
HELL’S GATE, Kenya — Two-and-a-half hours
northwest of Nairobi by car, a small group
of bitcoin miners set up shop at the site of an extinct
volcano near Hell’s Gate National Park.
The mine, tucked away on the edge of Lake Naivasha,
is operated by a startup called Gridless and consists of
a single 500-kilowatt mobile container that, from the outside, looks like a small
residential trailer.
Backed by Jack Dorsey’s Block, Gridless electrifies its machines with a mix of solar power and
the stranded, wasted energy from a nearby geothermal site. It’s one of six mines run by the
company in Kenya, Malawi and Zambia, powered by a mix of renewable inputs and working
toward a broader mission of securing and decentralizing the bitcoin network.
“Most people think about bitcoin and the price of bitcoin and how they can save value in it or
maybe spend it,” Gridless CEO Erik Hersman told CNBC during a visit to the Kenyan mine earlier
this year. “That doesn’t happen without the bitcoin miners and us being globally distributed.”
Decentralization is a key feature of bitcoin, because it means the network isn’t controlled by any
entity and can’t be shut down — even if a government disapproves.
 Gridless, backed by Jack Dorsey’s Block, operates bitcoin mines in Kenya, Malawi and
Zambia.
 The company’s bitcoin mine in Kenya, near an extinct volcano, has powered 5,000
households in the country.
 “As often happens, you’ll have an overage of power during the day or even at night,
and there’s nobody to soak that power up,” Gridless CEO Erik Hersman told CNBC.
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Bitcoin and some other cryptocurrencies are created through a process known as proof-of-work, in
which miners around the world run high-powered computers that collectively validate transactions
and simultaneously create new tokens. The process requires heaps of electricity, leading miners
to seek out the cheapest sources of power.
While there are more than a dozen publicly traded miners, thousands of smaller, private
operations are also competing to process transactions and get paid in new bitcoin. That includes
individual miners in countries from Venezuela to Lebanon, and can involve a single mining rig in a
kitchen or several hundred thousand of them in an industrial-grade datacenter.
Gridless runs a geothermal-powered bitcoin mine in Hell’s Gate on the shore of Lake Naivasha.
MacKenzie Sigalos
Wherever the operation, bitcoin mining is a volatile business, because so much of the economics
depends on the price of the cryptocurrency. Since losing 60% of its value in 2022, bitcoin has
come roaring back, hitting a record above $73,000 in March, before pulling back a bit in recent
weeks.
Much of the rally has been tied to the launch of spot bitcoin exchange-traded funds in the U.S., as
well as optimism surrounding the so-called halving that took place late Friday. That event occurs
every four years and is designed to cut the reward for bitcoin miners in half, reducing the pace at
which new bitcoins enter the market. Prior halving events have been followed by big run-ups in the
cryptocurrency.
“Bitcoin is effectively unbreakable at this point,” said Adam Sullivan, CEO of Core Scientific, a
bitcoin miner based in Texas. “Bitcoin is at a point where it is more profitable to continue
supporting the network than to try and break it.”
Analysts at Deutsche Bank wrote in a note on April 18 that they expect the geography of crypto
mining to shift after the halving as slimmer profit margins force miners to seek cheaper and more
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reliable forms of energy. The analysts wrote that the U.S. currently accounts for 40% of mining,
with Russia at 20% and China at 15%.
“Latin America, Africa and the Middle East have caught the attention of crypto miners due to their
lower energy costs,” they wrote.
Bitfarms, based in Toronto, is now operating in Argentina, while Marathon Digital, headquartered
in Florida, has expanded into the United Arab Emirates and Paraguay.
Hersman, 48, was raised in Kenya and Sudan, where his parents were linguists. Before getting
into bitcoin mining, he and his two co-founders, Philip Walton and Janet Maingi, spent years
building internet connectivity infrastructure in rural and urban Africa.
Gridless runs bitcoin mines in Kenya, Malawi, and Zambia on a mix of renewable energy sources.
The company’s site in Hell’s Gate operates on geothermal power.
MacKenzie Sigalos
In early 2022, the trio began brainstorming creative solutions for the divide between power
generation and capacity, and the lack of access to electricity in Africa. They landed on the idea of
bitcoin mining, which could potentially solve a big problem for renewable energy developers by
taking their stranded power and spreading it to other parts of the continent. In Africa, 43% of the
population, or roughly 600 million people, lack access to electricity.
Gridless now has eight full-time staffers and manages much of its operations remotely with its
software.
Turning lava into bitcoin
Hell’s Gate is a deep and winding canyon that is home to cheetahs, zebras, and giraffes and
rimmed by cliffs, volcanoes and thick bush.
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The area is covered in ash, and sulfuric plumes of steam will periodically emit from the ground, a
reminder of the surrounding, smoldering volcanic craters that wiped out some of the native Maasai
tribe in the mid-19th century and threatened others who dared to take up residence there.
Gone are the days of fatal eruptions and spewing lava. Instead, an elaborate, labyrinthine piping
system and volcanic plugs comprise multiple geothermal power stations.
A drilling hole at the Olkaria geothermal power station in HellÂŽs Gate National Park.
Volcano-powered bitcoin mining isn’t new.
Iceland, El Salvador and other countries have been harnessing geothermal energy to mine bitcoin.
To make the conditions work for miners, the businesses need the combination of a buy-in from
local authorities, cheap and abundant power and some infrastructure, said Nic Carter, founding
partner of Castle Island Ventures, which focuses on blockchain investments.
“If you have those three ingredients, it can work, but sometimes, it’s the nation state, or a national,
state energy company doing it,” Carter said. He pointed to the Middle East, which is getting into
flare gas mining as an example of state-level actors entering the business.
“In some cases, it’s with the explicit blessing of the nation state like Bhutan, and then in Texas, it’s
just with very favorable local regulators and local conditions,” he said.
Africa is home to an estimated 10 terawatts of solar capacity, 350 gigawatts of hydro and another
110 gigawatts of wind.
Some of this renewable energy is being harnessed already, but a lot isn’t because building the
specialized infrastructure to capture it is expensive. Even with 60% of the best solar resources
globally, Africa only has 1% of installed solar PV capacity.
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Enter bitcoin miners.
Bitcoin gets a bad rap for the amount of energy it consumes, but it can also help unlock these
trapped renewable sources of power. Miners are essentially energy buyers, and co-locating with
renewables creates a financial incentive to bolster production.
“As often happens, you’ll have an overage of power during the day or even at night, and there’s
nobody to soak that power up,” said Hersman. He said his company’s 50-kilowatt mining container
can “take up whatever is extra throughout the day.”
Steam tubes at the Olkaria geothermal power station in HellÂŽs Gate National Park.
“Within any second or minute, we are going up and down on a certain number of miners that are
running,” Hersman said. “It might be down to 50 kilowatts, then up to 300 kilowatts, then down to
200 kilowatts, and then up to another level — and that will happen all day and all night.”
According to the International Energy Agency, in Africa’s rural areas, “where over 80% of the
electricity-deprived live, mini-grids and stand-alone systems, mostly solar based, are the most
viable solutions.”
Demand from bitcoin miners on these semi-stranded assets is making renewables in Africa
economically viable. The power supplier benefits from selling energy that previously had been
discarded, while the energy plants will sometimes lower costs for the customer. At one of the
Gridless pilot sites in Kenya, the hydro plant dropped the price of power from 35 cents per kilowatt
hour to 25 cents per kWh.
The buildout of capacity is also electrifying households.
Gridless says its sites have powered 1,200 houses in Zambia, 1,800 in Malawi and 5,000 in
Kenya. The company’s mines also have delivered power for containerized cold storage for local
farmers, battery charging stations for electric motorcycles and public WiFi points.
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“It’s not really sexy,” Hersman said. “It’s a mining container made from a shipping container. It’s
got a bunch of dumb machines sitting in it running the same equation over and over again, but it’s
actually what secures the network.
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NewBase Energy News 22- April - Issue No. 1718 call on +971504822502, UAE
The Editor:” Khaled Al Awadi” Your partner in Energy Services
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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 © 2024 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

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NewBase 22 April 2024 Energy News issue - 1718 by Khaled Al Awadi (AutoRecovered.pdf

  • 1. Copyright © 2024 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 22 April 2024 No. 1718 Senior Editor Eng. Khaled Al Awadi NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE UAE and Colombia aims to attract UAE investment worth $700 million after signing Cepa The National - Fareed Rahman + NewBase Colombia aims to attract investment between $600 million and $700 million after the South American country signed the Comprehensive Economic Partnership Agreement (Cepa) with the UAE on Friday. The new investment from the UAE is expected to be made in sectors including green hydrogen and digital economy, according to Colombia’s trade, industry and tourism minister. The new deal “will enhance the trade and investment co-operation between the two countries, with the participation of their private sectors in business, services, trade, investment, and other vital sectors that will have a positive economic impact”, German Mendoza told the state-run news agency Wam. “It will open a new trade corridor between South America and the Middle East, which are key markets with more than 800 million consumers.” ww.linkedin.com/in/khaled-al-awadi-80201019/ Green hydrogen and digital economy will provide new investment opportunities for investors, South American nation's trade minister says
  • 2. Copyright © 2024 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 The UAE and Colombia have continued to strengthen economic ties, with non-oil trade between the two countries rising by 43 per cent in 2023 to reach a record $53.1 million, more than double the total achieved in 2021. The two countries have also signed co-operation agreements in renewable energy, environment, hydrogen, travel, free zones and artificial intelligence. “The UAE-Colombia Cepa will open a promising new chapter in deepening economic ties between the two nations, enabling businesses to benefit from access to not only each other’s markets but also their respective regions,” said President Sheikh Mohamed, who witnessed the signing of the agreement along with the Colombian President Gustavo Petro. The Arab world’s second largest economy aims to boost non-oil foreign trade to more than Dh4 trillion ($1 trillion) by 2031 with new trade deals. It has so far concluded Cepas with India, Turkey, Israel, Indonesia, Cambodia, Georgia, as well as with Mauritius, Kenya, the Republic of Congo, Colombia and Costa Rica. The UAE's plans to invest in Colombia’s green hydrogen sector come as the country positions itself as a major hydrogen producer with plans to export to global markets. The UAE is not leaving “any stones unturned” to reach its goal of becoming a major hydrogen producer and exporter, a Ministry of Energy and Infrastructure official said last year. The Emirates, which has shipped test cargoes of blue ammonia to countries such as Germany and Japan, is working with the International Partnership for Hydrogen and Fuel Cells in the Economy (IPHE) and the EU Commission to agree on a standard certification process for the export of the low-carbon fuel.
  • 3. Copyright © 2024 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 “Eventually, when we are to export hydrogen, the certification requirements need to match with the importing country,” said Sharif Al Olama, the ministry's Undersecretary for Energy and Petroleum Affairs. Hydrogen comes in various forms, including blue, green, and grey. Blue and grey hydrogen are produced from natural gas, while green is derived from splitting water molecules by electrolysis. The UAE aims to reach hydrogen production of 1.4 million tonnes annually by 2031. The target is then to reach 15 million tonnes of annual production by 2050. Colombia renewable energy billion in investment View of a hybrid power park with solar panels and wind turbines in Sabugal, Portugal, January 12, 2023. REUTERS/Pedro Nunes/File Photo Purchase Licensing Rights, opens new tab BOGOTA, Jan 25 (Reuters) - Colombia's renewable energy sector could get investment of up to $2.2 billion in 2024 across 66 projects that are soon to enter production or waiting to complete paperwork, renewable energy association SER Colombia said on Thursday. Colombia has set its sights on developing renewable energy sources, such as solar, wind and geothermal, as part of President Gustavo Petro's goal to wean the major regional coal and oil producer off its dependence on fossil fuels. However, some renewable projects have faced significant hurdles, including onshore and offshore wind farms in the north of the country, due to resistance from Indigenous communities and regulatory delays. "First of all we have to be realistic and conscious that this process advances step by step," said SER Colombia Chief Executive Alexandra Hernandez. Electricity capacity across Colombia's offering of non-conventional renewable energy projects at the end of 2023 stood at 504 megawatts (MW), SER Colombia said in a report. However, the Andean country is set to extend that capacity by 1,240 MW across 22 projects in 2024, with up to an additional 1,800 MW in 44 projects that are pending permissions and other administrative procedures, the report said. Sixty-five of the projects are for solar energy, while one is for a battery energy storage system, the report added. Colombia's nascent renewable energy industry faces challenges in the form of lengthy execution times for projects to start entering the market, which in turn hampers financing and investment, the report added. The average time it takes a small renewable energy project to start operating in the country is between around three to six years, 70% of which is taken up by some 15 administrative processes, the report found. "We call for easing the execution of these projects," the report said. "Current entry times to start operating ... are excessively large compared to the size and impact times of the projects.
  • 4. Copyright © 2024 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 Abu Dhabi summit sets out roadmap to future fuels economy TradeArabia News Service Abu Dhabi Future Energy Company (Masdar) has hailed the conclusion of a highly successful Green Hydrogen Summit focused on accelerating the development of the global green hydrogen economy and supporting the energy transition. Under the theme, Building the Hydrogen Economy: From Dialogue to Reality, the summit assembled an impressive line- up of stakeholders including ministerial speakers from the UAE, Azerbaijan, Japan and the Netherlands, policymakers, industry leaders, forward-thinking investors and pioneering entrepreneurs. UAE’s clean energy powerhouse Masdar pointed out that the summit witnessed global hydrogen players engaging in insightful discussions on many critical topics, ranging from the role of hydrogen in UAE, Europe, the US and Asia, its potential for industries such as steel and transportation and how to make projects more bankable. At the two-day event, Abu Dhabi’s low-carbon hydrogen policy and its potential to attract innovators, technology providers and key players in the green hydrogen sector while enabling Masdar to start developing cost effective, technology-driven, pioneering green hydrogen projects were also highlighted. Masdar CEO Mohamed Jameel Al Ramahi said this year’s Summit assembled a highly impressive list of speakers and panelists who provided great insights into the enormous potential of the green hydrogen economy, while also addressing some of the challenges. "Green hydrogen is a vital element of a sustainable energy transition for the UAE and global decarbonization efforts and Masdar is working hard to accelerate investment in green hydrogen to advance the sector and support the diversification of the UAE’s economy and the global clean energy transition," he noted. The summit's keynote speaker, former UK prime minister Boris Johnson, praised the UAE as one of the world’s great centres of technological innovation and highlighted its longstanding ties with UK on renewable energy projects in the past and into the future, including green hydrogen. He also commended Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and President of COP28, for his leadership in delivering the UAE Consensus at COP28. In his address, Dr Bertrand Piccard, Chairman of Climate Impulse, who is planning the first hydrogen-powered flight to circumnavigate the planet, stressed the importance of the Summit and the work of Masdar in advancing the development and progress of green hydrogen. Parviz Shahbazov, Minister of Energy for Azerbaijan, Yoshida Nobuhiro, Parliamentary Vice- Minister of Economy, Trade and Industry for Japan and Frederik Wisselink, Energy Envoy, Ministry of Economic Affairs and Climate Policy, The Netherlands, outlined national strategies and policies to accelerate green hydrogen economies. The summit ended with a demonstration of Net Zero Navigator, the AI-driven platform which enables cross-referencing of current financial mechanisms, best policy environments and partnership models to allow the development and scaling of technologies, innovations and strategies to achieve net zero faster.-
  • 5. Copyright © 2024 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 Oman: TotalEnergies launches the Marsa 1 MT/Y new LNG project Source: TotalEnergies During a visit in Muscat on April 21st, Patrick PouyannĂ©, Chairman and CEO of TotalEnergies met with His Majesty Sultan Haitham bin Tariq Al Said and His Excellency Eng. Salim bin Nasser Al Aufi, Minister of Energy & Minerals, to reaffirm the long-term partnership between TotalEnergies and the Sultanate of Oman. On the occasion of this visit, Patrick PouyannĂ© and Mr. Mulham Basheer Al Jarf, Chairman of OQ, the Oman National Oil Company, announced the Final Investment Decision (FID) of the Marsa LNG project. TotalEnergies had signed a Sale and Purchase Agreement (SPA) with Oman LNG to offtake 0.8 Mtpa of LNG for ten years from 2025, making the Company one of the main offtakers of Oman LNG's production. Finally, TotalEnergies (49%) and OQ Alternative Energy (51%), the national renewable energy champion, have confirmed being at an advanced stage of discussions to jointly develop a portfolio of up to 800 MW, including the 300 MWp solar project that will supply Marsa LNG. Marsa LNG, an innovative integrated project Through their joint company Marsa Liquefied Natural Gas, TotalEnergies (80%) and OQ (20%) launch the integrated Marsa LNG project which combines:  upstream gas production: 150 Mcf/d of natural gas, coming from the 33.19% interest held by Marsa in the Mabrouk North-East field on onshore Block 10, which will provide the required feedstock for the LNG plant. Block 10 production started in January 2023 and reached plateau in April 2024. The FID allows Marsa LNG to extend its rights in Block 10 until its term in 2050.  downstream gas liquefaction: a 1 Mt/y capacity LNG liquefaction plant will be built in the port of Sohar. The LNG production is expected to start by first quarter 2028 and is primarily intended to serve the marine fuel market (LNG bunkering) in the Gulf. LNG quantities not sold as bunker fuel will be off-taken by TotalEnergies (80%) and OQ (20%).  renewable power generation: a dedicated 300 MWp PV solar plant will be built to cover 100% of the annual power consumption of the LNG plant, allowing a significant reduction in greenhouse gas emissions.
  • 6. Copyright © 2024 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 Setting very low carbon intensity standards for the next generation of LNG plants The Marsa LNG plant will be 100% electrically driven and supplied with solar power, positioning the site as one of the lowest GHG emissions intensity LNG plants ever built worldwide, with a GHG intensity below 3 kg CO2e/boe. (for reference, the average emission intensity of LNG plants is around 35 kg CO2e/boe - this represents a reduction in emissions of more than 90%) . The main Engineering, Procurement and Construction contracts have been awarded to Technip Energies for the LNG plant and to CB&I for the 165,000 m3 LNG tank. The Marsa LNG project will generate long-term employment opportunities and significant socio- economic benefits for the city of Sohar and the region. The first LNG bunkering hub in the Middle East The ambition of the Marsa LNG project is to serve as the first LNG bunkering hub in the Middle East, showcasing an available and competitive alternative marine fuel to reduce the shipping industry's emissions. Compared to conventional marine fuel, LNG helps to cut:  Greenhouse gas emissions by up to 23%,  Nitrogen oxide emissions by up to 85%.  Sulfur emissions by 99%,  Fine particle emissions by 99%. 'We are proud to open a new chapter in our history in the Sultanate of Oman with the launch of the Marsa LNG project, together with our partner OQ, demonstrating our long-term commitment to the country. We are especially pleased to deploy the two pillars of our transition strategy, LNG and renewables, and thus support the Sultanate on a new scale in the sustainable development of its energy resources', said Patrick PouyannĂ©, Chairman and CEO of TotalEnergies. 'This very innovative project illustrates our pioneer spirit and showcases the relevance of our integrated multi-energy strategy, with the ambition of being a responsible player in the energy transition. By paving the way for the next generation of very low emission LNG plants, Marsa LNG is contributing to making gas a long-term transition energy.'
  • 7. Copyright © 2024 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 NewBase April 22-2024 Khaled Al Awadi NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE Oil prices fall more than 1% as Middle East tensions ease Reuters + NewBase Oil prices fell by more than 1% ( but later recovered losses ) on Monday, as the market focus switched to fundamentals after Israel and Iran played down the risk of an escalation of hostilities following Israel's apparently small strike on Iran. Brent futures fell $ 0.57, or 0.65%, to $87.72 a barrel by 1036 GMT. The front-month U.S. West Texas Intermediate (WTI) crude contract for May , which expires on Monday, fell 30 cents, or 0.36%, to $82.84 a barrel, while the more active June contract dropped $1.23 to $80.99 a barrel. "Brent crude prices failed to retain their initial surge, with broad expectations that geopolitical tensions between Israel and Iran may fizzle off given Iran's tamed response," said Yeap Jun Rong, market strategist at IG. "With that, markets continue to unwind the geopolitical risk premium tied to potential supply disruptions, which seems more unlikely at current point in time," he added. Both benchmarks spiked more than $3 a barrel early on Friday, after explosions were heard in the Iranian city of Isfahan in what sources described as an Israeli attack. Gains were capped after Tehran played down the incident and said it did not plan to retaliate. Yeap said rising U.S. crude stocks had added to the pressure to sell. Oil price special coverage
  • 8. Copyright © 2024 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 8 U.S. crude inventories rose by 2.7 million barrels, Energy Information Administration data showed last week, nearly double analysts' expectations of a 1.4 million barrel rise. "Economic concerns again become a bearish factor of the crude market," with prices "under pressure due to a large build in the U.S. stockpile and a hawkish Fed that led to a strong dollar," said independent market analyst Tina Teng. A strong dollar makes oil more expensive for holders of other currencies. Chicago Federal Reserve President Austan Goolsbee on Friday became the latest central banker to signal a longer timeline for interest rate cuts because progress on curbing inflation had stalled. On Saturday, the U.S. House of Representatives passed an aid package for Ukraine and Israel containing measures that would let the federal government expand sanctions against Iran and its oil production. But markets shrugged off the news as the impact of the measures, if passed, would depend on how they are interpreted and implemented. Senate consideration of the bill is set to begin on Tuesday. For now, ANZ analysts said in a note that volatility in the Middle East will keep oil markets "jittery". On Saturday, a blast at an Iraqi military base killed a member of a security force that includes Iran- backed groups. The force commander said it was an attack while the army said it was investigating. Separately, Iran-backed Lebanese group Hezbollah on Sunday said it downed an Israeli drone that was on a combat mission in southern Lebanon. Israeli forces and Lebanon's armed group Hezbollah have been exchanging fire for over six months in parallel to the Gaza war, fuelling concerns about further escalation.
  • 9. Copyright © 2024 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  Hawk Energy Sees Oil at $85-$100 This Year With Strong Demand Growth  That’s a ‘ foreseeable & sensible range,’ Hawk Energy CEO M. Al Shihabi says  Demand set to grow to 104 MBD up by 2.0 MBD, in 2024: Al Awadhi says
  • 10. Copyright © 2024 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 Specual Coverage The Energy world –April 22 -2024 CLEAN ENERGY How a Jack Dorsey-backed bitcoin miner uses a volcano in Kenya to turn on the lights in rural homes CNBC - MacKenzie Sigalos@KENZIESIGALOS HELL’S GATE, Kenya — Two-and-a-half hours northwest of Nairobi by car, a small group of bitcoin miners set up shop at the site of an extinct volcano near Hell’s Gate National Park. The mine, tucked away on the edge of Lake Naivasha, is operated by a startup called Gridless and consists of a single 500-kilowatt mobile container that, from the outside, looks like a small residential trailer. Backed by Jack Dorsey’s Block, Gridless electrifies its machines with a mix of solar power and the stranded, wasted energy from a nearby geothermal site. It’s one of six mines run by the company in Kenya, Malawi and Zambia, powered by a mix of renewable inputs and working toward a broader mission of securing and decentralizing the bitcoin network. “Most people think about bitcoin and the price of bitcoin and how they can save value in it or maybe spend it,” Gridless CEO Erik Hersman told CNBC during a visit to the Kenyan mine earlier this year. “That doesn’t happen without the bitcoin miners and us being globally distributed.” Decentralization is a key feature of bitcoin, because it means the network isn’t controlled by any entity and can’t be shut down — even if a government disapproves.  Gridless, backed by Jack Dorsey’s Block, operates bitcoin mines in Kenya, Malawi and Zambia.  The company’s bitcoin mine in Kenya, near an extinct volcano, has powered 5,000 households in the country.  “As often happens, you’ll have an overage of power during the day or even at night, and there’s nobody to soak that power up,” Gridless CEO Erik Hersman told CNBC.
  • 11. Copyright © 2024 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 Bitcoin and some other cryptocurrencies are created through a process known as proof-of-work, in which miners around the world run high-powered computers that collectively validate transactions and simultaneously create new tokens. The process requires heaps of electricity, leading miners to seek out the cheapest sources of power. While there are more than a dozen publicly traded miners, thousands of smaller, private operations are also competing to process transactions and get paid in new bitcoin. That includes individual miners in countries from Venezuela to Lebanon, and can involve a single mining rig in a kitchen or several hundred thousand of them in an industrial-grade datacenter. Gridless runs a geothermal-powered bitcoin mine in Hell’s Gate on the shore of Lake Naivasha. MacKenzie Sigalos Wherever the operation, bitcoin mining is a volatile business, because so much of the economics depends on the price of the cryptocurrency. Since losing 60% of its value in 2022, bitcoin has come roaring back, hitting a record above $73,000 in March, before pulling back a bit in recent weeks. Much of the rally has been tied to the launch of spot bitcoin exchange-traded funds in the U.S., as well as optimism surrounding the so-called halving that took place late Friday. That event occurs every four years and is designed to cut the reward for bitcoin miners in half, reducing the pace at which new bitcoins enter the market. Prior halving events have been followed by big run-ups in the cryptocurrency. “Bitcoin is effectively unbreakable at this point,” said Adam Sullivan, CEO of Core Scientific, a bitcoin miner based in Texas. “Bitcoin is at a point where it is more profitable to continue supporting the network than to try and break it.” Analysts at Deutsche Bank wrote in a note on April 18 that they expect the geography of crypto mining to shift after the halving as slimmer profit margins force miners to seek cheaper and more
  • 12. Copyright © 2024 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 reliable forms of energy. The analysts wrote that the U.S. currently accounts for 40% of mining, with Russia at 20% and China at 15%. “Latin America, Africa and the Middle East have caught the attention of crypto miners due to their lower energy costs,” they wrote. Bitfarms, based in Toronto, is now operating in Argentina, while Marathon Digital, headquartered in Florida, has expanded into the United Arab Emirates and Paraguay. Hersman, 48, was raised in Kenya and Sudan, where his parents were linguists. Before getting into bitcoin mining, he and his two co-founders, Philip Walton and Janet Maingi, spent years building internet connectivity infrastructure in rural and urban Africa. Gridless runs bitcoin mines in Kenya, Malawi, and Zambia on a mix of renewable energy sources. The company’s site in Hell’s Gate operates on geothermal power. MacKenzie Sigalos In early 2022, the trio began brainstorming creative solutions for the divide between power generation and capacity, and the lack of access to electricity in Africa. They landed on the idea of bitcoin mining, which could potentially solve a big problem for renewable energy developers by taking their stranded power and spreading it to other parts of the continent. In Africa, 43% of the population, or roughly 600 million people, lack access to electricity. Gridless now has eight full-time staffers and manages much of its operations remotely with its software. Turning lava into bitcoin Hell’s Gate is a deep and winding canyon that is home to cheetahs, zebras, and giraffes and rimmed by cliffs, volcanoes and thick bush.
  • 13. Copyright © 2024 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 The area is covered in ash, and sulfuric plumes of steam will periodically emit from the ground, a reminder of the surrounding, smoldering volcanic craters that wiped out some of the native Maasai tribe in the mid-19th century and threatened others who dared to take up residence there. Gone are the days of fatal eruptions and spewing lava. Instead, an elaborate, labyrinthine piping system and volcanic plugs comprise multiple geothermal power stations. A drilling hole at the Olkaria geothermal power station in HellÂŽs Gate National Park. Volcano-powered bitcoin mining isn’t new. Iceland, El Salvador and other countries have been harnessing geothermal energy to mine bitcoin. To make the conditions work for miners, the businesses need the combination of a buy-in from local authorities, cheap and abundant power and some infrastructure, said Nic Carter, founding partner of Castle Island Ventures, which focuses on blockchain investments. “If you have those three ingredients, it can work, but sometimes, it’s the nation state, or a national, state energy company doing it,” Carter said. He pointed to the Middle East, which is getting into flare gas mining as an example of state-level actors entering the business. “In some cases, it’s with the explicit blessing of the nation state like Bhutan, and then in Texas, it’s just with very favorable local regulators and local conditions,” he said. Africa is home to an estimated 10 terawatts of solar capacity, 350 gigawatts of hydro and another 110 gigawatts of wind. Some of this renewable energy is being harnessed already, but a lot isn’t because building the specialized infrastructure to capture it is expensive. Even with 60% of the best solar resources globally, Africa only has 1% of installed solar PV capacity.
  • 14. Copyright © 2024 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 Enter bitcoin miners. Bitcoin gets a bad rap for the amount of energy it consumes, but it can also help unlock these trapped renewable sources of power. Miners are essentially energy buyers, and co-locating with renewables creates a financial incentive to bolster production. “As often happens, you’ll have an overage of power during the day or even at night, and there’s nobody to soak that power up,” said Hersman. He said his company’s 50-kilowatt mining container can “take up whatever is extra throughout the day.” Steam tubes at the Olkaria geothermal power station in HellÂŽs Gate National Park. “Within any second or minute, we are going up and down on a certain number of miners that are running,” Hersman said. “It might be down to 50 kilowatts, then up to 300 kilowatts, then down to 200 kilowatts, and then up to another level — and that will happen all day and all night.” According to the International Energy Agency, in Africa’s rural areas, “where over 80% of the electricity-deprived live, mini-grids and stand-alone systems, mostly solar based, are the most viable solutions.” Demand from bitcoin miners on these semi-stranded assets is making renewables in Africa economically viable. The power supplier benefits from selling energy that previously had been discarded, while the energy plants will sometimes lower costs for the customer. At one of the Gridless pilot sites in Kenya, the hydro plant dropped the price of power from 35 cents per kilowatt hour to 25 cents per kWh. The buildout of capacity is also electrifying households. Gridless says its sites have powered 1,200 houses in Zambia, 1,800 in Malawi and 5,000 in Kenya. The company’s mines also have delivered power for containerized cold storage for local farmers, battery charging stations for electric motorcycles and public WiFi points.
  • 15. Copyright © 2024 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 “It’s not really sexy,” Hersman said. “It’s a mining container made from a shipping container. It’s got a bunch of dumb machines sitting in it running the same equation over and over again, but it’s actually what secures the network.
  • 16. Copyright © 2024 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 NewBase Energy News 22- April - Issue No. 1718 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.
  • 17. Copyright © 2024 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