12
Aug

ENTSO-E (EU) identifies 93 GW of needs for power interconnection by 2040

ENTSO-E’s new System Needs study identifies a total of 50 GW of needs for cross-border electricity exchanges on close to 40 borders in 2030 and another 43 GW on more than 55 borders in 2040. Addressing system needs would require €45bn of investment and could put Europe on track to realise the Green Deal, with 110 TWh of curtailed energy and 53 Mt of CO₂ emissions avoided each year until 2040. The progress in market integration would lead to an increase in price convergence between bidding zone thanks to an additional 467 TWh/year of cross border exchanges by 2040. Electricity transmission projects currently under preparation address only about 43 GW of the 93 GW of needs identified between 2025 and 2040.

11
Aug

Algeria's gas exports expected to decrease by 40% over 2020-2025

According to the energy minister, Algeria’s natural gas exports are expected to decrease by more than 40% between 2020 (45 bcm) and 2025 (26 bcm) due to stagnant production, rising domestic demand and insufficient investment. In 2019, exports reached 42.7 bcm.

Algeria aims to attract international investors to offset its declining production and to maintain its exports. In December 2019, the country adopted a new hydrocarbon law, which introduces new types of contracts for companies willing to cooperate with the national oil and gas company Sonatrach on projects, including production sharing, participation and risk services. The text also simplifies procedures for foreign investors.

10
Aug

Kazatomprom's uranium output should drop by 16% in 2020 (Kazakhstan)

Kazakhstan’s state-owned uranium extraction and nuclear company Kazatomprom plans to produce 19,250 tU in 2020, i.e. 16% less than in 2019, when it produced 22,808 tU. In February 2020, the company had announced that its 2020 output would remain at about 22,750-22,800 tU. However, the 4-month shutdown of its uranium mines due to the COVID-19 pandemic and uncertainties over the impacts of the crisis prompted the company to revise its production estimates downward.

06
Aug

Global offshore wind capacity will surge to over 234 GW by 2030

According to the Global Wind Energy Council (GWEC), through 2030, more than 205 GW of new offshore wind capacity will be added globally – a 15 GW increase from last year’s outlook – spurred by declining technology costs, ambitious polices, and international commitments to decarbonisation. The global offshore wind capacity would then surge from 29 GW in 2019 to 234 GW in 2030, including at least 6 GW of floating offshore wind installed globally by 2030