RIYADH: On a macro level, the UAE is eyeing investment in Turkey’s energy sector. Solar power is witnessing a boom in Sweden, amid fear of potential energy shortages.
On a micro level, Coal India is set to import fuel for the first time in seven years. On another note, Korea Gas Corp. announced that it plans to switch to hydrogen-driven operations by 2050 in line with the county’s climate ambitions.
Looking at the bigger picture:
·The UAE is seeking investment in Turkey’s energy sector, ports, and railways, Reuters reported, citing Foreign Minister Abdullah bin Zayed Al Nahyan.
The UAE is especially eyeing the Middle Eastern country’s renewable sector, the minister highlighted during a press conference in Istanbul.
·Sweden is experiencing a solar power boom as consumers scurry to secure renewable energy at reasonable costs, Bloomberg reported.
This comes as the European country is anticipating power shortages in the region after two nuclear reactors in southern Sweden came to a halt.
Through a micro lens:
·Indian government-owned coal mining and refining corporation Coal India is set to import fuel for the first time since 2015, Reuters reported, citing a power ministry letter.
This move comes as part of measures taken by the state and federal officials to secure enough stock in an attempt to curb potential power outages.
·South Korean public gas company Korea Gas Corp. has announced that it intends to switch liquefied natural gas-driven operations into hydrogen by 2050, Bloomberg reported, citing Lee Jae Hoon, a general manager of the firm’s hydrogen business development team.
To achieve this, the firm is planning to start importing green hydrogen in 2027. The corporation will also invest in zero-emission fuel in places including Australia and the Middle East.