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NewBase Energy News 26 April 2022 No. 1508 Senior Editor Eng. Khaled Al Awadi
NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
Egypt: The U.A.E ‘s Masdar signs deals to develop 4 GW-
capacity green hydrogen plants in Egypt by 2030
WAM (Emirates News Agency) + NewBase
Masdar, one of the world’s leading renewable energy companies, and Hassan Allam Utilities, the
investment and development arm of Hassan Allam Holding Group, announced today that they have
signed two Memorandums of Understanding with leading Egyptian state-backed organizations to
cooperate on the development of green hydrogen production plants in the Suez Canal Economic
Zone and on the Mediterranean coast.
The Memorandums of Understanding were signed in the presence of Mostafa Kamal Madbouly,
Prime Minister of the Arab Republic of Egypt, Dr Sultan bin Ahmed Al Jaber, UAE Minister of
Industry and Advanced Technology, Special Envoy for Climate Change and Chairman of Masdar,
Dr Mohamed Shaker El-Markabi, Minister of Electricity and Renewable Energy for Egypt, and Dr
Hala El Said, Minister of Planning and Economic Development and Chairperson of The Sovereign
Fund of Egypt.
Amr Allam and Hassan Allam, Co- Chief Executive Officers of Hassan Allam Holding, were also in
attendance, along with Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar. The
Egyptian organizations concerned include the New and Renewable Energy Authority, the Egyptian
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Electricity Transmission Company, The Sovereign Fund of Egypt, and The General Authority for
Suez Canal Economic Zone.
Mostafa Kamal Madbouly, Prime Minister of the Arab Republic of Egypt, expressed his happiness
at this signing with Egypt’s brothers in the UAE, highlighting the directives of President Abdel Fattah
El-Sisi, to strengthen and consolidate relations with the UAE in various sectors, so as to contribute
to achieving the interests of the two nations.
He stressed that the state is working to encourage investment in green energy projects, due to
Egypt's potential to become an important pivotal and regional hub in this vital sector, which is
expected to transform the global energy system during the upcoming period. These projects will
also accelerate energy transition process in the region.
Dr Sultan bin Ahmed Al Jaber, UAE
Minister of Industry and Advanced
Technology, UAE Special Envoy for
Climate Change and Chairman of
Masdar, said, "Today’s partnership
agreements to explore the
development of green hydrogen
production demonstrates the strength
of the close relationship between The
United Arab Emirates and the Arab
Republic of Egypt.
These projects will build on the UAE’s
and Masdar’s position as an early
mover in the global hydrogen market
and expand our capacity to deliver zero
carbon energy solutions. As our two countries prepare to host the next two COPs, we look forward
to working with our partners in Egypt to make practical advances in the energy transition that will
provide significant benefits for the economy and the climate."
Dr Mohamed Shaker El-Markabi, Minister of Electricity and Renewable Energy in Egypt, confirmed
that signing the two memorandums of understanding today supports Egypt’s vision of expanding
renewable and clean energy projects. He added that the national strategy for the energy mix is
currently under review to include green hydrogen, in preparation for its launch during the coming
period.
Dr Hala El Said, Minister of Planning and Economic Development and Chairperson of The
Sovereign Fund of Egypt, stressed that Egypt has abundant solar and wind energy resources that
would provide a suitable location for renewable energy projects at a competitive cost. Along with its
proximity to global markets that are looking to import green hydrogen, this will allow significant
growth for this sector in the future, and the agreements are in line with "Egypt Vision 2030" and its
sustainable development strategy.
Eng. Yehia Zaki, Chairman of SCZONE, said, "Today’s signing is the fifth of its kind for green fuel
production projects inside Sokhna zone, as SCZONE has a distinctive location and pivotal ports
overlooking the Red and the Mediterranean Sea. SCZONE is qualified to be a regional Hub for ship
bunkering. All the companies now are conducting feasibility studies for the projects in detail to sign
and announce the actual contracts in coinciding with the COP27 climate summit next November."
Ayman Soliman, Chief Executive Officer of The Sovereign Fund of Egypt, said, "Our green hydrogen
portfolio is growing, taking us another step closer to our target and promise of developing green
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energy flagship projects under the umbrella of the collaborative effort between Ministry of Electricity,
the SCZONE and TSFE.
We are excited to work again with Masdar and Hassan Allam. Our joint efforts have established a
shared commitment to value creation through innovative sustainable projects. Through these
strategic partnerships with world renowned strategic developers, we are transforming Egypt into a
regional green energy hub."
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said, "These agreements
represent a vital step forward in the development of the green hydrogen economy for both the UAE
and Egypt, and will play a significant role in our two nations’ decarbonization efforts. By working
with partners such as Hassan Allam Utilities, we can help the green hydrogen market achieve its
full potential over the coming years and play its part in supporting the global energy transition."
Amr Allam, Chief Executive Officer of Hassan Allam Holding, said, "Our drive into the green energy
and infrastructure space, including solar and wind power generation, was all about contributing to a
more sustainable future. Through this partnership with Masdar we are looking to harness the leading
edge of technology to make a difference in Egypt by leveraging the country’s abundant sources of
green energy.
"In the first phase of the project, Hassan Allam Utilities and Masdar aim to establish a green
hydrogen manufacturing facility, which would be operational by 2026, producing 100,000 tonnes of
e-methanol annually for bunkering in the Suez Canal," he added. "The electrolyser facilities in the
Suez Canal Economic Zone and on the Mediterranean could be extended to up to 4 GW by 2030
to produce 2.3 million tonnes of green ammonia for export as well as supply green hydrogen for
local industries."
Masdar and Hassan Allam Utilities see Egypt as a hub for green hydrogen production, targeting the
bunkering market, export to Europe, and boosting local industry. Egypt enjoys abundant solar and
wind resources that allow generation of renewable power at a highly competitive cost –a key enabler
for green hydrogen production.
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Egypt is also located within close proximity to markets where demand for green hydrogen is
expected to grow the most, providing robust opportunity for export. Driven by green hydrogen’s
export potential, its ability to attract large-scale foreign direct investment and opportunities to
contribute to the Government’s efforts to optimize generation costs and increase the share of
renewables in the country’s energy mix to 42 percent by 2030, the Ministry of Electricity is currently
revising its 2030 renewable energy strategy to include green hydrogen, and is developing a green
hydrogen strategy, which is expected to be issued by October 2022.
Active in more than 40 countries across the world, Masdar is invested in a portfolio of renewable
energy assets with a combined value of more than US$20 billion, and a total capacity of more than
15 GW. In December, it was announced that Abu Dhabi National Energy Company PJSC (TAQA),
Mubadala Investment Company and Abu Dhabi National Oil Company (ADNOC) will partner under
the Masdar brand to create a truly global, clean-energy powerhouse intended to spearhead the
drive to net-zero carbon by 2050 while cementing the UAE’s leading role in green hydrogen.
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
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Japan fears China-Russia LNG alliance after Shell exits Sakhalin-2
Nikkei + NewBase
Energy giant Shell's reported talks with Chinese companies over its stake in the Sakhalin-2 project
raise energy security concerns for Japan as possible Moscow-Beijing dominance in the project
could end up reducing Japan's liquefied natural gas access.
Sakhalin-2, Russia's first LNG project, is operated by Russian gas giant Gazprom, which holds a
roughly 50% stake. Shell, the No. 2 shareholder with a 27.5% stake, is reportedly holding joint talks
with China National Offshore Oil Corp., China National Petroleum Corp. and China Petrochemical
Corp. to sell its entire interest, according to U.S. and British media.
The London-listed company said in February that it would exit from the project, after Russia's
invasion of Ukraine triggered international sanctions. Japanese trading houses Mitsui & Co. and
Mitsubishi Corp. also hold 12.5% and 10%, respectively, making Sakhalin-2 a crucial project for
energy-starved Japan.
Sakhalin-2's export quotas do not correspond to the sizes of the investments. Of the 10 million tons
it produces annually, roughly 60% is bound for Japan. The project accounts for almost all of Japan's
LNG imports from Russia and about 10% of Japan's overall LNG imports.
About 20% of Sakhalin-2's LNG is purchased by South Korean energy companies under long-term
contracts. Chinese companies also purchase a portion on the spot market.
The talks with CNOOC, CNPC and Sinopec -- as the three Chinese state-owned enterprises are
known -- are in early stages and could fall through. Representatives from Shell and CNPC declined
to comment on the reports of the negotiations.
Shell has not told the other Sakhalin-2 shareholders when and how it plans to withdraw from the
project. Apart from Chinese enterprises, multiple energy companies have shown interest in Shell's
stake.
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Shell would need approval from Moscow before it can sell its stake in Sakhalin-2.
Now that much of the international community has turned against Russia, "the only likely buyers will
be Chinese or Russian companies," a source at a major Japanese power company said.
Even if China and Russia end up owning a majority of Sakhalin-2, "the long-term contracts will be
honored," a source at a Japanese trading company said. "The business impact on Japan will be
limited for the time being."
Japanese energy importer JERA, a 50-50 joint venture between Tokyo Electric Power Co. Holdings
and Chubu Electric Power, procures more than 1.5 million tons of Sakhalin-2 LNG annually under
a 20-year contract starting from 2009.
A change in ownership would normally be unlikely to affect JERA's contract. But with Russia
currently at war with Ukraine, uncertainty remains. The expiration of current contracts heightens the
risk of Japan losing energy access. A number of long-term contracts struck by Japanese companies
will expire in or around 2030.
Even assuming that Mitsui and Mitsubishi hold on to their Sakhalin-2 stakes, Chinese and Russian
companies may have a bigger say over new long-term supply contracts. This may lead to a
reduction of Japan's share in LNG supplies.
That companies in authoritarian countries are involved in Japan's LNG procurement also raises
energy security concerns.
Procuring LNG from Sakhalin-2 is far cheaper than purchasing it on the spot market. Without
Sakhalin-2, the Japanese public may face additional energy costs to the tune of trillions of yen (1
trillion yen equals $7.79 billion) a year. Electricity and gas bills could be pushed up further.
At this stage, Mitsui and Mitsubishi have shown no indication of leaving Sakhalin-2.
"We're concerned that if Japan exits
the project and if interests are
acquired by Russia or a third
country, that would benefit Russia
and would not amount to effective
sanctions," Koichi Hagiuda, the
Japanese minister of economy,
trade and industry, told reporters
Friday.
A Japanese company involved in
energy will find itself in a difficult
position to exit a project
independently if such a decision will
affect national policy. At the same
time, Japan paid about 370 billion yen for Russian gas in 2021. A company that maintains
substantial business operations in Russia risks undermining the effectiveness of the sanctions.
For Japan to beef up energy security, policymakers will be tasked with exploring other options, such
as diversifying energy supplies, expanding renewable energy sources and restarting idled nuclear
plants. The Ministry of Economy, Trade and Industry has formed a new organization to study
approaches to ensure stable supplies of energy and rare metals.
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Russia and India in talks to restart coking coal supplies -sources
Reuters + NewBase
Russia usually supplies about 30% of European Union, Japanese and South Korean coking coal
needs, while India had planned to double its Russian imports to around 9 million tonnes this year
Russian and Indian officials met last week in an effort to resolve an impasse over the shipping of
coking coal to Indian steelmakers, which has dried up since March over payment methods, a trade
source and an Indian government source said.
Russia usually supplies about 30% of European Union, Japanese and South Korean coking coal
needs, while India had planned to double its Russian imports to around 9 million tonnes this year.
Imports make up around 85% of India's overall coking coal needs, which total 50-55 million tonnes
a year, and New Delhi last year signed a deal to import from Russia.
A poster in support of Russia, stuck by the right-wing group Hindu Sena, is seen, as the invasion of
Ukraine continues, in Connaught Place, in New Delhi, India, March 6, 2022. REUTERS.
But complications with processing of
payments and logistics as a result of
sanctions against Russia mean steel
mills are opting for alternative sources
such as Australia and the United
States, pushing up prices in the
process.
Australia, India's top supplier of coking
coal, has raised its prices from $200 to
$700 per tonne this year, while flows
from Russia have dried up completely
since March, the two sources said on
Monday, raising worries among India's
steelmakers over their supplies.
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As a result, Indian government officials and executives from JSW Steel met a delegation from
Russia in New Delhi on Friday, the sources said of the previously unreported meeting. Russian
trade officials expressed concerns during the meeting over the sanctions imposed by the West and
asked India to move forward with last year's deal, the sources said.
"Their concern was that they have been hit hard by the sanctions," one of the sources said, adding:
"They were primarily interested in how we can take the MoU (memorandum of understanding)
forward."
The Russian delegation asked Indian representatives to visit Moscow to work out how to achieve
smooth shipments of coking coal, the sources said, while state-owned Steel Authority of India
requested better insurance cover for supplies.
The sources declined to be identified as they are not authorised to talk to the media. Russia's trade
ministry declined to comment, while India's federal steel ministry, foreign affairs ministry and JSW
Steel did not immediately reply to requests for comment.
Russian coking coal producers Raspadskaya and Mechel did not immediately respond to requests
for comment. The head of Russia's customs service said last week it had temporarily suspended
publication of import and export data in order to exclude errors and "speculation".
India has not imposed sanctions on Russia over its invasion of Ukraine, which Moscow calls a
"special military operation", and has abstained from a United Nations vote condemning it.
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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: Reverses Trump move to open up more oil drilling in Arctic
Emma Newburger@EMMA_NEWBURGER
The Biden administration on Monday reversed a Trump administration plan that would have allowed
the government to lease more than two-thirds of the country’s largest swath of public land to oil and
gas drilling.
KEY POINTS
 The Biden administration on Monday reversed a Trump administration plan that would have
allowed the government to lease more than two-thirds of the country’s largest swath of public
land to oil and gas drilling.
 The Bureau of Land Management’s decision will shrink the amount of land available for lease
in the National Petroleum Reserve in Alaska, a roughly 23 million acre region that’s home to
wildlife like caribou and polar bears.
 The reserve generated more than $56 million in oil and gas lease revenue in 2019, according
to the Bureau of Land Management.
The Bureau of Land Management’s decision will shrink the amount of land available for lease in the
National Petroleum Reserve in Alaska, a roughly 23 million acre region that’s home to wildlife like
caribou and polar bears. The decision returns to an Obama administration plan that allows fossil
fuel extraction in up to 52% of the reserve, compared to the Trump administration’s effort to open
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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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up 82% of the land to drilling. It will also reinstate some environmental protections for designated
areas of the reserve, including Teshekpuk Lake, a wetland complex that is uniquely rich with wildlife.
The move comes after the number of oil and gas permits approved by the Bureau of Land
Management for drilling on public lands declined to its lowest number under the Biden
administration earlier this year.
In 1923, former President Warren G. Harding set aside the reserve as an emergency oil supply for
the U.S. Navy. In 1976, the Naval Petroleum Reserves Production Act designated the area
specifically for oil and gas production and moved it under the authority of the Bureau of Land
Management.
The reserve generated more than $56 million in oil and gas lease revenue in 2019, according to the
Bureau of Land Management.
Oil and gas production on the reserve has the potential to release over 5 billion metric tons of carbon
dioxide into the atmosphere, roughly equivalent to the amount of carbon released in the entire
country in 2019, according to the US Energy Information Administration.
Kristen Monsell, oceans legal director of the Center for Biological Diversity, said the Biden
administration’s reversal isn’t enough to address the climate crisis and end new fossil fuel extraction.
“More Arctic drilling also means more oil spills, more polluted communities and more harm to polar
bears and other vulnerable wildlife,” Monsell said in a statement. “Biden officials can and must use
their power to help us avoid disastrous climate change and support the transition to a just, renewable
economy.”
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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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NewBase April 26-2022 Khaled Al Awadi
NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
Oil steadies after sharp fall, focus on China growth
Reuters + NewBase
Oil prices bounced on Tuesday, steadying after a sharp fall of 4% in the previous session as worries
over China's fuel demand were soothed by the central bank's pledge to support an economy hit by
renewed COVID-19 curbs.
Brent crude futures were at $103.50, up $1.18, or 1.15%, and U.S. West Texas Intermediate
contracts climbed to $99.41, up 87 cents, or 0.88% at 0448 GMT.
Both contracts had settled down around 4% on Monday, with Brent falling as much as $7 a barrel
in the session and WTI dipping roughly $6 a barrel. read more
Oil price special
coverage
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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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The UAE is determined to transition to a low carbon economy that drives sustainable economic
development in all its facets. Listen to our CEO, Rola Abu Manneh, to know more about the UAE's
net zero commitment and its greater impact on sustainable living. #StandardChartered
#StandingForChange...
China will keep liquidity reasonably ample in financial markets, the People's Bank of China (PBOC)
said in a statement on Tuesday, a day after the central bank announced a cut to banks' foreign
exchange reserve ratio to support its economy.
"Coming on the heels of the central bank cutting the foreign currency reserve requirement ratio for
banks, it provided some relief to investors," energy market analysis provider Vanda Insights said in
a note.
China's capital Beijing expanded its COVID-19 mass testing from one district this week to most of
the city of nearly 22 million, as they braced for an imminent lockdown similar to Shanghai's stringent
curbs. read more
"The hit from Chinese lockdowns is over a million barrels a day and the testing of 12 districts over
the next five days will determine the next major move for crude prices," wrote Edward Moya, a senior
market analyst for OANDA in a note.
What the world needs now is cleaner power - made possible by people who see energy differently,
and who work to build a world where more sustainable power and a smarter grid can impact more
lives. It’s how #GE is #BuildingAWorldThatWorks… now.
Separately, in a bearish signal for oil markets, five analysts polled by Reuters estimated on average
that U.S. crude inventories increased by 2.2 million barrels in the week to April 22.
Stockpiles of gasoline rose by about 500,000 barrels last week, and distillate inventories, which
include diesel and heating oil, were expected to have decreased by 600,000 barrels.
The poll was conducted ahead of the release of the inventory report from the American Petroleum
Institute, an industry
group, at 4:30 p.m.
EDT (2030 GMT) on
Tuesday. The official
government Energy
Information
Administration data
will be out on
Wednesday.
Analysts said that the
supply side concerns
over phasing out of
Russian oil from the
market will continue
to support prices.
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NewBase Special Coverage
The Energy world –April -01 -2022
Russia’s War Is Turbocharging the World’s Addiction to Coal
(Bloomberg) + NewBase
In Germany and Italy, coal-fired power plants that were once decommissioned are
now being considered for a second life. In South Africa, more coal-laden ships are
embarking on what’s typically a quiet route around the Cape of Good Hope toward
Europe. Coal burning in the U.S. is in the midst of its biggest revival in a decade,
while China is reopening shuttered mines and planning new ones.
The world’s addiction to coal, a fuel many thought would soon be on the way out, is now stronger
than ever.
Demand has been on the rise since last year amid a natural gas shortage and as electricity use
surged after pandemic restrictions were rolled back. But Russia’s invasion of Ukraine turbocharged
the coal market, setting off a domino effect that’s leaving power producers scrambling for supply
and pushing prices to record levels.
The boom in the world's dirtiest fossil fuel has huge implications for the global economy.
The higher prices will continue to feed into rising inflation. But even with the recent surge, analysts
say that coal is still one of the relatively cheapest fuels. That’s making it more critical for power
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supplies at a time when coal burning also remains the biggest single obstacle in the battle against
climate change. Meanwhile, miners are struggling to dig up any additional tons as utilities around
the world keep demanding more, setting the stage for the next phase of the global energy crisis.
“When you’re trying to balance decarbonization and energy security, everyone knows which one
wins: Keeping the lights on,” said Steve Hulton, senior vice president for coal markets at market-
research company Rystad Energy in Sydney. “That’s what keeps people in power, and stops people
from rioting in the streets.”
In 2021, the world generated more electricity from coal than ever before, with an increase of 9%
from the previous year, according to the International Energy Agency. For 2022, total coal
consumption — for generating power, making steel and other industrial uses — is expected to rise
by almost 2% to a record of just above 8 billion metric tons and remain there through at least 2024.
“All evidence indicates a widening gap between political ambitions and targets on one side and the
realities of the current energy system on the other,” the IEA said, estimating that carbon-dioxide
emissions from coal in 2024 will be at least 3 billion tons higher than in a scenario reaching net-zero
by 2050.
As the world began to emerge from the pandemic in mid-2021, power demand surged as stores
and factories reopened. But Europe, which had been leading the global charge away from coal,
faced an unprecedented crunch for electricity and a shortage of natural gas. At the same time,
renewable power was tight in the region and in some other parts other world. The confluence of
events sparked blackouts in some regions and sent gas prices to extremes around the world,
ushering in the energy crisis.
Suddenly, coal was back in vogue as a less-expensive alternative. Thermal coal, the type burned
by power plants, is one of the cheapest fuel sources “on the planet,” with costs at about $15 per
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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
publication. However, no warranty is given to the accuracy of its content. Page 15
million British thermal units, according to a report dated April 1 from Bank of America. That
compares with about $25 for crude oil and the global price of $35 for natural gas, the report said.
The European Union, which has some of the world’s most ambitious climate targets, saw its coal
use jump 12% last year, the first increase since 2017 — albeit, that gain was from low 2020 levels.
Coal consumption climbed 17% in the U.S., and also rose in Asia, Africa and Latin America. India
and China, which dominate global markets, were also big drivers for increasing world demand.
Just a few months ago, negotiators arrived in Glasgow for the COP26 climate conference optimistic
they could “consign coal to history.”
Instead, the climate talks ended in November with a watering down of the language on the use of
coal. China, the U.S. and India are the three biggest polluters, and all three have now pledged to
zero-out their emissions in the decades ahead. Yet India and China pursued last-ditch interventions
to soften language on coal usage, and the U.S. played a role in accepting that weaker position,
calling into question the nations’ short-term commitment to curb coal.
The IEA issued its annual demand outlook back in December. The agency now plans to issue a
mid-year revision in July — its first time ever to do so — to analyze the impact of the war. In all
likelihood, demand will be higher than the December forecast as Russia’s invasion of Ukraine sets
off a chain reaction in the global energy markets that further thrusts coal into the spotlight.
Can the EU Give Up Russian Energy?
Europe is desperate for a way to reduce its reliance on Russia, a key supplier of fossil fuels. The
EU is moving to ban Russian coal while also cranking up its overall use of the fuel as it seeks to
simultaneously decrease its use of Russian natural gas. Europe’s move is centered on the notion
that it will be able to pay more for non-Russian coal supplies than other buyers, a gamble that’s
driving up global markets and could price out developing countries that may face shortages.
To help secure energy next winter,
the German government is
considering working with utilities
like RWE AG to reactivate
decommissioned coal-fired power
plants and delay
decommissioning of active
facilities.
In Denmark, Orsted A/S is shoring
up coal supplies to use instead of
biomass, because supplies of the
carbon-neutral wood pellets have
been disrupted by the war. And
Britain is exploring options to
bolster energy security, including
keeping open Drax Group Plc
coal units.
“It’s the last hurrah for coal in Europe,” said Emma Champion, head of regional energy transitions
at BloombergNEF.
Even before Europe’s risky move, coal supplies were already precarious. A power plant in Germany
had to shut down last year when it ran out of coal. Shortages also led to power outages in India and
China, which together account for about two-thirds of global coal consumption.
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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
publication. However, no warranty is given to the accuracy of its content. Page 16
Coal’s Price Surge
Prices are hitting stratospheric levels. Futures prices for the Australian benchmark, which rarely
breaks $100 a metric ton, spiked to $280 in October as utilities scoured the planet for fuel. It fell
back, slightly, as relatively mild winter temperatures in the northern hemisphere eased some
demand for power. But when Russia invaded Ukraine, supply concerns drove prices all the way to
$440, an all-time high.
Europe’s market followed the same pattern, and even in the U.S., which is driven more by domestic
demand, prices reached a 13-year high this month.
“The coal supply chain just wasn’t ready for that kind of shock,” said Xizhou Zhou, managing director
for global power and renewables at S&P Global. As coal grows in importance, supplies are unlikely
to follow suit.
Miners are still concerned about long-term demand prospects, especially as the United Nations
reiterates its view that the world needs to phase out the fuel. The report from the Intergovernmental
Panel on Climate Change released this month showed that coal burning needs to hit zero by 2050
to reach the goal of limiting global heating to 1.5° Celsius (2.7° Fahrenheit).
“To say in the long run there’s no demand for your product, but in the short run, can you please
ramp it up — that’s a lot to ask of a supply chain,” said Ethan Zindler, head of Americas research at
BloombergNEF.
Adding to the chaos, policymakers and companies in Japan and South Korea are also making
moves to curb Russian coal imports. That will leave even more of the world looking for alternatives
to the 187 million tons that Russia exported to power plants last year, which equals about 18% of
the world’s thermal coal trade. It won’t be easy to replace.
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
Global Supply Issues
Global production still hasn’t rebounded to pre-pandemic levels. Miners have been hobbled by
weather problems, labor shortages and transportation issues, as well as a lack of investment in new
capacity.
Indonesia, the top shipper of coal for power
stations, halted exports of coal early this
year to secure domestic supplies.
Producers in Australia, another key
exporter, have flagged they have limited
ability to raise sales. State-owned Coal
India Ltd., the world’s biggest miner, is
limiting deliveries to industrial users to
prioritize power plants in a bid to avert
blackouts for millions of households.
Exports from South Africa’s Richards Bay
Coal Terminal fell to 58.7 million tons in
2021, the lowest in 25 years.
“The global seaborne coal market remains
very tight this year,” said Shirley Zhang, an
analyst at Wood Mackenzie Ltd. “So finding alternative supply would be extremely challenging
regardless of high prices.”
As global coal supplies tighten and prices rise, emerging-market nations may no longer be able to
afford to procure the fuel to keep their economies running. Cash-strapped countries in South Asia,
like Pakistan, Sri Lanka and Bangladesh, are particularly exposed to price shocks and are already
grappling with energy shortages.
To be sure, if coal’s price surge continues, that could in the longer term further encourage countries
to wean themselves off the fuel and replace it with more renewables. And the larger geopolitical
tensions brought on by Russia’s war are bolstering the argument that adding more electric vehicles
to roads and installing additional wind turbines and solar panels can boost energy independence.
The Impact of China’s Fuel Demand
China is also in the midst of a fossil-fuel production boom. Growing coal output has been an
obsession of Beijing’s since a shortage of the fuel caused last year’s widespread power outages.
The nation mines half the world’s coal, and output has been rising just as a recent new spat of
pandemic lockdowns slowed economic activity and curbed power demand. But it’s unclear whether
the production surges are sustainable, with a top industry official saying recently that the push has
reached its limits.
For now, the most-immediate dynamic is a global fight over available coal supplies to avoid power
shortages. “I don’t know if I even have an extra 200 tons,” said Ernie Thrasher, chief executive
officer of Xcoal Energy & Resources LLC, the top U.S. exporter. “There physically isn’t the
production capacity.”
(Michael Bloomberg, the founder and majority owner of Bloomberg LP — the parent company of
Bloomberg News — committed $500 million to Beyond Carbon, a campaign aimed at closing the
remaining coal-fired power plants in the U.S. by 2030 and halting the development of new natural
gas-fired plants. He also started a campaign to close a quarter of the world’s remaining coal plants
and cancel all proposed coal plants by 2025.)
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
NewBase Energy News 26 April 2022 - Issue No. 1508 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 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 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 21

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NewBase April 26-2022 Energy News issue - 1508 by Khaled Al Awadi.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 26 April 2022 No. 1508 Senior Editor Eng. Khaled Al Awadi NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE Egypt: The U.A.E ‘s Masdar signs deals to develop 4 GW- capacity green hydrogen plants in Egypt by 2030 WAM (Emirates News Agency) + NewBase Masdar, one of the world’s leading renewable energy companies, and Hassan Allam Utilities, the investment and development arm of Hassan Allam Holding Group, announced today that they have signed two Memorandums of Understanding with leading Egyptian state-backed organizations to cooperate on the development of green hydrogen production plants in the Suez Canal Economic Zone and on the Mediterranean coast. The Memorandums of Understanding were signed in the presence of Mostafa Kamal Madbouly, Prime Minister of the Arab Republic of Egypt, Dr Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Special Envoy for Climate Change and Chairman of Masdar, Dr Mohamed Shaker El-Markabi, Minister of Electricity and Renewable Energy for Egypt, and Dr Hala El Said, Minister of Planning and Economic Development and Chairperson of The Sovereign Fund of Egypt. Amr Allam and Hassan Allam, Co- Chief Executive Officers of Hassan Allam Holding, were also in attendance, along with Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar. The Egyptian organizations concerned include the New and Renewable Energy Authority, the Egyptian
  • 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 Electricity Transmission Company, The Sovereign Fund of Egypt, and The General Authority for Suez Canal Economic Zone. Mostafa Kamal Madbouly, Prime Minister of the Arab Republic of Egypt, expressed his happiness at this signing with Egypt’s brothers in the UAE, highlighting the directives of President Abdel Fattah El-Sisi, to strengthen and consolidate relations with the UAE in various sectors, so as to contribute to achieving the interests of the two nations. He stressed that the state is working to encourage investment in green energy projects, due to Egypt's potential to become an important pivotal and regional hub in this vital sector, which is expected to transform the global energy system during the upcoming period. These projects will also accelerate energy transition process in the region. Dr Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, UAE Special Envoy for Climate Change and Chairman of Masdar, said, "Today’s partnership agreements to explore the development of green hydrogen production demonstrates the strength of the close relationship between The United Arab Emirates and the Arab Republic of Egypt. These projects will build on the UAE’s and Masdar’s position as an early mover in the global hydrogen market and expand our capacity to deliver zero carbon energy solutions. As our two countries prepare to host the next two COPs, we look forward to working with our partners in Egypt to make practical advances in the energy transition that will provide significant benefits for the economy and the climate." Dr Mohamed Shaker El-Markabi, Minister of Electricity and Renewable Energy in Egypt, confirmed that signing the two memorandums of understanding today supports Egypt’s vision of expanding renewable and clean energy projects. He added that the national strategy for the energy mix is currently under review to include green hydrogen, in preparation for its launch during the coming period. Dr Hala El Said, Minister of Planning and Economic Development and Chairperson of The Sovereign Fund of Egypt, stressed that Egypt has abundant solar and wind energy resources that would provide a suitable location for renewable energy projects at a competitive cost. Along with its proximity to global markets that are looking to import green hydrogen, this will allow significant growth for this sector in the future, and the agreements are in line with "Egypt Vision 2030" and its sustainable development strategy. Eng. Yehia Zaki, Chairman of SCZONE, said, "Today’s signing is the fifth of its kind for green fuel production projects inside Sokhna zone, as SCZONE has a distinctive location and pivotal ports overlooking the Red and the Mediterranean Sea. SCZONE is qualified to be a regional Hub for ship bunkering. All the companies now are conducting feasibility studies for the projects in detail to sign and announce the actual contracts in coinciding with the COP27 climate summit next November." Ayman Soliman, Chief Executive Officer of The Sovereign Fund of Egypt, said, "Our green hydrogen portfolio is growing, taking us another step closer to our target and promise of developing green
  • 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 energy flagship projects under the umbrella of the collaborative effort between Ministry of Electricity, the SCZONE and TSFE. We are excited to work again with Masdar and Hassan Allam. Our joint efforts have established a shared commitment to value creation through innovative sustainable projects. Through these strategic partnerships with world renowned strategic developers, we are transforming Egypt into a regional green energy hub." Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said, "These agreements represent a vital step forward in the development of the green hydrogen economy for both the UAE and Egypt, and will play a significant role in our two nations’ decarbonization efforts. By working with partners such as Hassan Allam Utilities, we can help the green hydrogen market achieve its full potential over the coming years and play its part in supporting the global energy transition." Amr Allam, Chief Executive Officer of Hassan Allam Holding, said, "Our drive into the green energy and infrastructure space, including solar and wind power generation, was all about contributing to a more sustainable future. Through this partnership with Masdar we are looking to harness the leading edge of technology to make a difference in Egypt by leveraging the country’s abundant sources of green energy. "In the first phase of the project, Hassan Allam Utilities and Masdar aim to establish a green hydrogen manufacturing facility, which would be operational by 2026, producing 100,000 tonnes of e-methanol annually for bunkering in the Suez Canal," he added. "The electrolyser facilities in the Suez Canal Economic Zone and on the Mediterranean could be extended to up to 4 GW by 2030 to produce 2.3 million tonnes of green ammonia for export as well as supply green hydrogen for local industries." Masdar and Hassan Allam Utilities see Egypt as a hub for green hydrogen production, targeting the bunkering market, export to Europe, and boosting local industry. Egypt enjoys abundant solar and wind resources that allow generation of renewable power at a highly competitive cost –a key enabler for green hydrogen production.
  • 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 Egypt is also located within close proximity to markets where demand for green hydrogen is expected to grow the most, providing robust opportunity for export. Driven by green hydrogen’s export potential, its ability to attract large-scale foreign direct investment and opportunities to contribute to the Government’s efforts to optimize generation costs and increase the share of renewables in the country’s energy mix to 42 percent by 2030, the Ministry of Electricity is currently revising its 2030 renewable energy strategy to include green hydrogen, and is developing a green hydrogen strategy, which is expected to be issued by October 2022. Active in more than 40 countries across the world, Masdar is invested in a portfolio of renewable energy assets with a combined value of more than US$20 billion, and a total capacity of more than 15 GW. In December, it was announced that Abu Dhabi National Energy Company PJSC (TAQA), Mubadala Investment Company and Abu Dhabi National Oil Company (ADNOC) will partner under the Masdar brand to create a truly global, clean-energy powerhouse intended to spearhead the drive to net-zero carbon by 2050 while cementing the UAE’s leading role in green hydrogen.
  • 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 Japan fears China-Russia LNG alliance after Shell exits Sakhalin-2 Nikkei + NewBase Energy giant Shell's reported talks with Chinese companies over its stake in the Sakhalin-2 project raise energy security concerns for Japan as possible Moscow-Beijing dominance in the project could end up reducing Japan's liquefied natural gas access. Sakhalin-2, Russia's first LNG project, is operated by Russian gas giant Gazprom, which holds a roughly 50% stake. Shell, the No. 2 shareholder with a 27.5% stake, is reportedly holding joint talks with China National Offshore Oil Corp., China National Petroleum Corp. and China Petrochemical Corp. to sell its entire interest, according to U.S. and British media. The London-listed company said in February that it would exit from the project, after Russia's invasion of Ukraine triggered international sanctions. Japanese trading houses Mitsui & Co. and Mitsubishi Corp. also hold 12.5% and 10%, respectively, making Sakhalin-2 a crucial project for energy-starved Japan. Sakhalin-2's export quotas do not correspond to the sizes of the investments. Of the 10 million tons it produces annually, roughly 60% is bound for Japan. The project accounts for almost all of Japan's LNG imports from Russia and about 10% of Japan's overall LNG imports. About 20% of Sakhalin-2's LNG is purchased by South Korean energy companies under long-term contracts. Chinese companies also purchase a portion on the spot market. The talks with CNOOC, CNPC and Sinopec -- as the three Chinese state-owned enterprises are known -- are in early stages and could fall through. Representatives from Shell and CNPC declined to comment on the reports of the negotiations. Shell has not told the other Sakhalin-2 shareholders when and how it plans to withdraw from the project. Apart from Chinese enterprises, multiple energy companies have shown interest in Shell's stake.
  • 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 Shell would need approval from Moscow before it can sell its stake in Sakhalin-2. Now that much of the international community has turned against Russia, "the only likely buyers will be Chinese or Russian companies," a source at a major Japanese power company said. Even if China and Russia end up owning a majority of Sakhalin-2, "the long-term contracts will be honored," a source at a Japanese trading company said. "The business impact on Japan will be limited for the time being." Japanese energy importer JERA, a 50-50 joint venture between Tokyo Electric Power Co. Holdings and Chubu Electric Power, procures more than 1.5 million tons of Sakhalin-2 LNG annually under a 20-year contract starting from 2009. A change in ownership would normally be unlikely to affect JERA's contract. But with Russia currently at war with Ukraine, uncertainty remains. The expiration of current contracts heightens the risk of Japan losing energy access. A number of long-term contracts struck by Japanese companies will expire in or around 2030. Even assuming that Mitsui and Mitsubishi hold on to their Sakhalin-2 stakes, Chinese and Russian companies may have a bigger say over new long-term supply contracts. This may lead to a reduction of Japan's share in LNG supplies. That companies in authoritarian countries are involved in Japan's LNG procurement also raises energy security concerns. Procuring LNG from Sakhalin-2 is far cheaper than purchasing it on the spot market. Without Sakhalin-2, the Japanese public may face additional energy costs to the tune of trillions of yen (1 trillion yen equals $7.79 billion) a year. Electricity and gas bills could be pushed up further. At this stage, Mitsui and Mitsubishi have shown no indication of leaving Sakhalin-2. "We're concerned that if Japan exits the project and if interests are acquired by Russia or a third country, that would benefit Russia and would not amount to effective sanctions," Koichi Hagiuda, the Japanese minister of economy, trade and industry, told reporters Friday. A Japanese company involved in energy will find itself in a difficult position to exit a project independently if such a decision will affect national policy. At the same time, Japan paid about 370 billion yen for Russian gas in 2021. A company that maintains substantial business operations in Russia risks undermining the effectiveness of the sanctions. For Japan to beef up energy security, policymakers will be tasked with exploring other options, such as diversifying energy supplies, expanding renewable energy sources and restarting idled nuclear plants. The Ministry of Economy, Trade and Industry has formed a new organization to study approaches to ensure stable supplies of energy and rare metals.
  • 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 Russia and India in talks to restart coking coal supplies -sources Reuters + NewBase Russia usually supplies about 30% of European Union, Japanese and South Korean coking coal needs, while India had planned to double its Russian imports to around 9 million tonnes this year Russian and Indian officials met last week in an effort to resolve an impasse over the shipping of coking coal to Indian steelmakers, which has dried up since March over payment methods, a trade source and an Indian government source said. Russia usually supplies about 30% of European Union, Japanese and South Korean coking coal needs, while India had planned to double its Russian imports to around 9 million tonnes this year. Imports make up around 85% of India's overall coking coal needs, which total 50-55 million tonnes a year, and New Delhi last year signed a deal to import from Russia. A poster in support of Russia, stuck by the right-wing group Hindu Sena, is seen, as the invasion of Ukraine continues, in Connaught Place, in New Delhi, India, March 6, 2022. REUTERS. But complications with processing of payments and logistics as a result of sanctions against Russia mean steel mills are opting for alternative sources such as Australia and the United States, pushing up prices in the process. Australia, India's top supplier of coking coal, has raised its prices from $200 to $700 per tonne this year, while flows from Russia have dried up completely since March, the two sources said on Monday, raising worries among India's steelmakers over their supplies.
  • 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 As a result, Indian government officials and executives from JSW Steel met a delegation from Russia in New Delhi on Friday, the sources said of the previously unreported meeting. Russian trade officials expressed concerns during the meeting over the sanctions imposed by the West and asked India to move forward with last year's deal, the sources said. "Their concern was that they have been hit hard by the sanctions," one of the sources said, adding: "They were primarily interested in how we can take the MoU (memorandum of understanding) forward." The Russian delegation asked Indian representatives to visit Moscow to work out how to achieve smooth shipments of coking coal, the sources said, while state-owned Steel Authority of India requested better insurance cover for supplies. The sources declined to be identified as they are not authorised to talk to the media. Russia's trade ministry declined to comment, while India's federal steel ministry, foreign affairs ministry and JSW Steel did not immediately reply to requests for comment. Russian coking coal producers Raspadskaya and Mechel did not immediately respond to requests for comment. The head of Russia's customs service said last week it had temporarily suspended publication of import and export data in order to exclude errors and "speculation". India has not imposed sanctions on Russia over its invasion of Ukraine, which Moscow calls a "special military operation", and has abstained from a United Nations vote condemning it.
  • 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: Reverses Trump move to open up more oil drilling in Arctic Emma Newburger@EMMA_NEWBURGER The Biden administration on Monday reversed a Trump administration plan that would have allowed the government to lease more than two-thirds of the country’s largest swath of public land to oil and gas drilling. KEY POINTS  The Biden administration on Monday reversed a Trump administration plan that would have allowed the government to lease more than two-thirds of the country’s largest swath of public land to oil and gas drilling.  The Bureau of Land Management’s decision will shrink the amount of land available for lease in the National Petroleum Reserve in Alaska, a roughly 23 million acre region that’s home to wildlife like caribou and polar bears.  The reserve generated more than $56 million in oil and gas lease revenue in 2019, according to the Bureau of Land Management. The Bureau of Land Management’s decision will shrink the amount of land available for lease in the National Petroleum Reserve in Alaska, a roughly 23 million acre region that’s home to wildlife like caribou and polar bears. The decision returns to an Obama administration plan that allows fossil fuel extraction in up to 52% of the reserve, compared to the Trump administration’s effort to open
  • 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 up 82% of the land to drilling. It will also reinstate some environmental protections for designated areas of the reserve, including Teshekpuk Lake, a wetland complex that is uniquely rich with wildlife. The move comes after the number of oil and gas permits approved by the Bureau of Land Management for drilling on public lands declined to its lowest number under the Biden administration earlier this year. In 1923, former President Warren G. Harding set aside the reserve as an emergency oil supply for the U.S. Navy. In 1976, the Naval Petroleum Reserves Production Act designated the area specifically for oil and gas production and moved it under the authority of the Bureau of Land Management. The reserve generated more than $56 million in oil and gas lease revenue in 2019, according to the Bureau of Land Management. Oil and gas production on the reserve has the potential to release over 5 billion metric tons of carbon dioxide into the atmosphere, roughly equivalent to the amount of carbon released in the entire country in 2019, according to the US Energy Information Administration. Kristen Monsell, oceans legal director of the Center for Biological Diversity, said the Biden administration’s reversal isn’t enough to address the climate crisis and end new fossil fuel extraction. “More Arctic drilling also means more oil spills, more polluted communities and more harm to polar bears and other vulnerable wildlife,” Monsell said in a statement. “Biden officials can and must use their power to help us avoid disastrous climate change and support the transition to a just, renewable economy.”
  • 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 NewBase April 26-2022 Khaled Al Awadi NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE Oil steadies after sharp fall, focus on China growth Reuters + NewBase Oil prices bounced on Tuesday, steadying after a sharp fall of 4% in the previous session as worries over China's fuel demand were soothed by the central bank's pledge to support an economy hit by renewed COVID-19 curbs. Brent crude futures were at $103.50, up $1.18, or 1.15%, and U.S. West Texas Intermediate contracts climbed to $99.41, up 87 cents, or 0.88% at 0448 GMT. Both contracts had settled down around 4% on Monday, with Brent falling as much as $7 a barrel in the session and WTI dipping roughly $6 a barrel. read more Oil price special coverage
  • 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 The UAE is determined to transition to a low carbon economy that drives sustainable economic development in all its facets. Listen to our CEO, Rola Abu Manneh, to know more about the UAE's net zero commitment and its greater impact on sustainable living. #StandardChartered #StandingForChange... China will keep liquidity reasonably ample in financial markets, the People's Bank of China (PBOC) said in a statement on Tuesday, a day after the central bank announced a cut to banks' foreign exchange reserve ratio to support its economy. "Coming on the heels of the central bank cutting the foreign currency reserve requirement ratio for banks, it provided some relief to investors," energy market analysis provider Vanda Insights said in a note. China's capital Beijing expanded its COVID-19 mass testing from one district this week to most of the city of nearly 22 million, as they braced for an imminent lockdown similar to Shanghai's stringent curbs. read more "The hit from Chinese lockdowns is over a million barrels a day and the testing of 12 districts over the next five days will determine the next major move for crude prices," wrote Edward Moya, a senior market analyst for OANDA in a note. What the world needs now is cleaner power - made possible by people who see energy differently, and who work to build a world where more sustainable power and a smarter grid can impact more lives. It’s how #GE is #BuildingAWorldThatWorks… now. Separately, in a bearish signal for oil markets, five analysts polled by Reuters estimated on average that U.S. crude inventories increased by 2.2 million barrels in the week to April 22. Stockpiles of gasoline rose by about 500,000 barrels last week, and distillate inventories, which include diesel and heating oil, were expected to have decreased by 600,000 barrels. The poll was conducted ahead of the release of the inventory report from the American Petroleum Institute, an industry group, at 4:30 p.m. EDT (2030 GMT) on Tuesday. The official government Energy Information Administration data will be out on Wednesday. Analysts said that the supply side concerns over phasing out of Russian oil from the market will continue to support prices.
  • 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 NewBase Special Coverage The Energy world –April -01 -2022 Russia’s War Is Turbocharging the World’s Addiction to Coal (Bloomberg) + NewBase In Germany and Italy, coal-fired power plants that were once decommissioned are now being considered for a second life. In South Africa, more coal-laden ships are embarking on what’s typically a quiet route around the Cape of Good Hope toward Europe. Coal burning in the U.S. is in the midst of its biggest revival in a decade, while China is reopening shuttered mines and planning new ones. The world’s addiction to coal, a fuel many thought would soon be on the way out, is now stronger than ever. Demand has been on the rise since last year amid a natural gas shortage and as electricity use surged after pandemic restrictions were rolled back. But Russia’s invasion of Ukraine turbocharged the coal market, setting off a domino effect that’s leaving power producers scrambling for supply and pushing prices to record levels. The boom in the world's dirtiest fossil fuel has huge implications for the global economy. The higher prices will continue to feed into rising inflation. But even with the recent surge, analysts say that coal is still one of the relatively cheapest fuels. That’s making it more critical for power
  • 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 supplies at a time when coal burning also remains the biggest single obstacle in the battle against climate change. Meanwhile, miners are struggling to dig up any additional tons as utilities around the world keep demanding more, setting the stage for the next phase of the global energy crisis. “When you’re trying to balance decarbonization and energy security, everyone knows which one wins: Keeping the lights on,” said Steve Hulton, senior vice president for coal markets at market- research company Rystad Energy in Sydney. “That’s what keeps people in power, and stops people from rioting in the streets.” In 2021, the world generated more electricity from coal than ever before, with an increase of 9% from the previous year, according to the International Energy Agency. For 2022, total coal consumption — for generating power, making steel and other industrial uses — is expected to rise by almost 2% to a record of just above 8 billion metric tons and remain there through at least 2024. “All evidence indicates a widening gap between political ambitions and targets on one side and the realities of the current energy system on the other,” the IEA said, estimating that carbon-dioxide emissions from coal in 2024 will be at least 3 billion tons higher than in a scenario reaching net-zero by 2050. As the world began to emerge from the pandemic in mid-2021, power demand surged as stores and factories reopened. But Europe, which had been leading the global charge away from coal, faced an unprecedented crunch for electricity and a shortage of natural gas. At the same time, renewable power was tight in the region and in some other parts other world. The confluence of events sparked blackouts in some regions and sent gas prices to extremes around the world, ushering in the energy crisis. Suddenly, coal was back in vogue as a less-expensive alternative. Thermal coal, the type burned by power plants, is one of the cheapest fuel sources “on the planet,” with costs at about $15 per
  • 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 million British thermal units, according to a report dated April 1 from Bank of America. That compares with about $25 for crude oil and the global price of $35 for natural gas, the report said. The European Union, which has some of the world’s most ambitious climate targets, saw its coal use jump 12% last year, the first increase since 2017 — albeit, that gain was from low 2020 levels. Coal consumption climbed 17% in the U.S., and also rose in Asia, Africa and Latin America. India and China, which dominate global markets, were also big drivers for increasing world demand. Just a few months ago, negotiators arrived in Glasgow for the COP26 climate conference optimistic they could “consign coal to history.” Instead, the climate talks ended in November with a watering down of the language on the use of coal. China, the U.S. and India are the three biggest polluters, and all three have now pledged to zero-out their emissions in the decades ahead. Yet India and China pursued last-ditch interventions to soften language on coal usage, and the U.S. played a role in accepting that weaker position, calling into question the nations’ short-term commitment to curb coal. The IEA issued its annual demand outlook back in December. The agency now plans to issue a mid-year revision in July — its first time ever to do so — to analyze the impact of the war. In all likelihood, demand will be higher than the December forecast as Russia’s invasion of Ukraine sets off a chain reaction in the global energy markets that further thrusts coal into the spotlight. Can the EU Give Up Russian Energy? Europe is desperate for a way to reduce its reliance on Russia, a key supplier of fossil fuels. The EU is moving to ban Russian coal while also cranking up its overall use of the fuel as it seeks to simultaneously decrease its use of Russian natural gas. Europe’s move is centered on the notion that it will be able to pay more for non-Russian coal supplies than other buyers, a gamble that’s driving up global markets and could price out developing countries that may face shortages. To help secure energy next winter, the German government is considering working with utilities like RWE AG to reactivate decommissioned coal-fired power plants and delay decommissioning of active facilities. In Denmark, Orsted A/S is shoring up coal supplies to use instead of biomass, because supplies of the carbon-neutral wood pellets have been disrupted by the war. And Britain is exploring options to bolster energy security, including keeping open Drax Group Plc coal units. “It’s the last hurrah for coal in Europe,” said Emma Champion, head of regional energy transitions at BloombergNEF. Even before Europe’s risky move, coal supplies were already precarious. A power plant in Germany had to shut down last year when it ran out of coal. Shortages also led to power outages in India and China, which together account for about two-thirds of global coal consumption.
  • 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 Coal’s Price Surge Prices are hitting stratospheric levels. Futures prices for the Australian benchmark, which rarely breaks $100 a metric ton, spiked to $280 in October as utilities scoured the planet for fuel. It fell back, slightly, as relatively mild winter temperatures in the northern hemisphere eased some demand for power. But when Russia invaded Ukraine, supply concerns drove prices all the way to $440, an all-time high. Europe’s market followed the same pattern, and even in the U.S., which is driven more by domestic demand, prices reached a 13-year high this month. “The coal supply chain just wasn’t ready for that kind of shock,” said Xizhou Zhou, managing director for global power and renewables at S&P Global. As coal grows in importance, supplies are unlikely to follow suit. Miners are still concerned about long-term demand prospects, especially as the United Nations reiterates its view that the world needs to phase out the fuel. The report from the Intergovernmental Panel on Climate Change released this month showed that coal burning needs to hit zero by 2050 to reach the goal of limiting global heating to 1.5° Celsius (2.7° Fahrenheit). “To say in the long run there’s no demand for your product, but in the short run, can you please ramp it up — that’s a lot to ask of a supply chain,” said Ethan Zindler, head of Americas research at BloombergNEF. Adding to the chaos, policymakers and companies in Japan and South Korea are also making moves to curb Russian coal imports. That will leave even more of the world looking for alternatives to the 187 million tons that Russia exported to power plants last year, which equals about 18% of the world’s thermal coal trade. It won’t be easy to replace.
  • 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 Global Supply Issues Global production still hasn’t rebounded to pre-pandemic levels. Miners have been hobbled by weather problems, labor shortages and transportation issues, as well as a lack of investment in new capacity. Indonesia, the top shipper of coal for power stations, halted exports of coal early this year to secure domestic supplies. Producers in Australia, another key exporter, have flagged they have limited ability to raise sales. State-owned Coal India Ltd., the world’s biggest miner, is limiting deliveries to industrial users to prioritize power plants in a bid to avert blackouts for millions of households. Exports from South Africa’s Richards Bay Coal Terminal fell to 58.7 million tons in 2021, the lowest in 25 years. “The global seaborne coal market remains very tight this year,” said Shirley Zhang, an analyst at Wood Mackenzie Ltd. “So finding alternative supply would be extremely challenging regardless of high prices.” As global coal supplies tighten and prices rise, emerging-market nations may no longer be able to afford to procure the fuel to keep their economies running. Cash-strapped countries in South Asia, like Pakistan, Sri Lanka and Bangladesh, are particularly exposed to price shocks and are already grappling with energy shortages. To be sure, if coal’s price surge continues, that could in the longer term further encourage countries to wean themselves off the fuel and replace it with more renewables. And the larger geopolitical tensions brought on by Russia’s war are bolstering the argument that adding more electric vehicles to roads and installing additional wind turbines and solar panels can boost energy independence. The Impact of China’s Fuel Demand China is also in the midst of a fossil-fuel production boom. Growing coal output has been an obsession of Beijing’s since a shortage of the fuel caused last year’s widespread power outages. The nation mines half the world’s coal, and output has been rising just as a recent new spat of pandemic lockdowns slowed economic activity and curbed power demand. But it’s unclear whether the production surges are sustainable, with a top industry official saying recently that the push has reached its limits. For now, the most-immediate dynamic is a global fight over available coal supplies to avoid power shortages. “I don’t know if I even have an extra 200 tons,” said Ernie Thrasher, chief executive officer of Xcoal Energy & Resources LLC, the top U.S. exporter. “There physically isn’t the production capacity.” (Michael Bloomberg, the founder and majority owner of Bloomberg LP — the parent company of Bloomberg News — committed $500 million to Beyond Carbon, a campaign aimed at closing the remaining coal-fired power plants in the U.S. by 2030 and halting the development of new natural gas-fired plants. He also started a campaign to close a quarter of the world’s remaining coal plants and cancel all proposed coal plants by 2025.)
  • 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 NewBase Energy News 26 April 2022 - Issue No. 1508 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.
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