NRG Matters: Australia, India agree to strengthen clean energy deal; EU plan hydrogen deal with Namibia


The EU is planning a deal with Namibia to support the country’s emerging green hydrogen sector and boost its own imports of the fuel, Reuters reported citing EU and Namibian officials.
The EU is planning a deal with Namibia to support the country’s emerging green hydrogen sector and boost its own imports of the fuel, Reuters reported citing EU and Namibian officials.
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Updated 04 July 2022

NRG Matters: Australia, India agree to strengthen clean energy deal; EU plan hydrogen deal with Namibia


NRG Matters: Australia, India agree to strengthen clean energy deal; EU plan hydrogen deal with Namibia


RIYADH: On a macro level, Australia and India have agreed to a partnership to strengthen a clean energy deal. Zooming in, France’s Technip Energies has been awarded a contract to build the first carbon capture and storage project in the world. 

Looking at the bigger picture

• The EU is planning a deal with Namibia to support the country’s emerging green hydrogen sector and boost its own imports of the fuel, Reuters reported citing EU and Namibian officials.

It is part of the bloc efforts to reduce its dependence on Russian energy.

• Australia and India have agreed to a partnership to strengthen a clean energy deal, according to Reuters. 

The two countries agreed to cooperate in developing critical metal projects and supply chains.

Through a micro lens

• French engineering and technology firm for the energy industry Technip Energies has been awarded an engineering, procurement and construction contract for the world’s first carbon capture and storage project.

Awarded by Hafslund Oslo Celsio, the project is for a supplier of district heating in Norway, and will be the first full-scale waste-to-energy plant in the world with carbon dioxide capture, Trade Arabia reported. 


China’s Huawei set to finalize data center location in Saudi Arabia 

China’s Huawei set to finalize data center location in Saudi Arabia 
Updated 12 sec ago

China’s Huawei set to finalize data center location in Saudi Arabia 

China’s Huawei set to finalize data center location in Saudi Arabia 

RIYADH: China’s tech giant Huawei is soon to decide the location of its data center in Saudi Arabia, president of Huawei Cloud Middle East told Gulf News. 

The data center in Saudi Arabia will be Huawei’s second in the Middle East, following Abu Dhabi.

“We are in the final stages of the Saudi decision — the investment decision has already been made,” Frank Dai explained. “All that’s left is where in Riyadh should the facility be built.”

He added: “The Middle East remains central to our vision of how digital transformation can reshape economies, even change the world. This is only the beginning of what data-driven economies can achieve.”


Wizz Air to resume flights from UAE to Russia in October

Wizz Air to resume flights from UAE to Russia in October
Updated 24 min 56 sec ago

Wizz Air to resume flights from UAE to Russia in October

Wizz Air to resume flights from UAE to Russia in October

DUBAI: European budget airline Wizz Air will resume flights from Abu Dhabi to Moscow from October, it said on Thursday, more than five months after the carrier suspended all services to Russia following Moscow’s invasion of Ukraine in February.

The airline’s Abu Dhabi-based joint venture, Wizz Air Abu Dhabi, will operate the daily flight from Oct. 3, with fares starting from 359 dirham ($97.74), it said in a statement.

Wizz Air, which in October 2021 announced the Abu Dhabi to Moscow flights would start in December that year, said on Feb. 27 it had suspended all flights to Russia.

Other Emirati carriers, including Emirates, have continued to operate services to Russia following the invasion of Ukraine.

Wizz Air Abu Dhabi is a joint venture between Abu Dhabi sovereign wealth fund ADQ and the European airline. It is based in Abu Dhabi and is a UAE registered carrier.


Public private partnerships to be encouraged in key Saudi region by new company

Public private partnerships to be encouraged in key Saudi region by new company
Updated 50 min 28 sec ago

Public private partnerships to be encouraged in key Saudi region by new company

Public private partnerships to be encouraged in key Saudi region by new company

RIYADH: Private businesses will be encouraged to work closely with the public sector on projects in Saudi Arabia’s Qassim region thanks to the creation of a new specialist organization.

The Qassim Region Municipality Company was given the go-ahead to form and create a board of directors by the Ministry of Municipal and Rural Affairs and Housing.

The company aims to enhance investment activity in the municipal sector in the Qassim region and to establish development projects in partnership with the private sector.


UAE sees financial surplus boom during first quarter

UAE sees financial surplus boom during first quarter
Updated 08 August 2022

UAE sees financial surplus boom during first quarter

UAE sees financial surplus boom during first quarter

RIYADH: The UAE’s net financial surplus increased by 129 percent during the first quarter of this year, according to data from the UAE Ministry of Finance.

The surplus during the first three months of 2022 amounted to 36.4 billion dirhams ($10.1 billion), compared to 15.9 billion dirhams in the same period last year.

Revenues during the first quarter also increased by 39 percent to 123.77 billion dirhams, Asharq reported, while expenses increased by 16.9 percent to reach 87.41 billion dirhams.


KAPSARC participates in IAEE Tokyo event, invites delegations to Riyadh edition

KAPSARC participates in IAEE Tokyo event, invites delegations to Riyadh edition
Updated 08 August 2022

KAPSARC participates in IAEE Tokyo event, invites delegations to Riyadh edition

KAPSARC participates in IAEE Tokyo event, invites delegations to Riyadh edition
  • The KAPSARC experts spoke at three key plenary and 11 concurrent sessions to share their insights on current global energy and environmental concerns

TOKYO: A delegation from Saudi Arabia’s energy economics and sustainability think tank, the King Abdullah Petroleum Studies and Research Center, participated in the 43rd International Association for Energy Economics conference in Tokyo last week.

Titled “Mapping the Energy Future, Voyage in Uncharted Territory,” the conference ran from July 31 to Aug. 4, with over 600 attendees.

The KAPSARC experts spoke at three key plenary and 11 concurrent sessions to share their insights on current global energy and environmental concerns, and how to find solutions to help shape future energy policies and encourage climate action.

KAPSARC’s talks and presentations also included the future role of fossil fuels, decarbonization risks and opportunities, renewables, energy economics, electricity markets, transportation and oil market stabilization.

During the plenary session “Climate Change and Decarbonization Challenges: Risks and Opportunities,” KAPSARC Research Fellow Dr. Noura Mansouri said: “Today, we have the opportunity of decarbonization represented in the Circular Carbon Economy, which is a new framework that values all options and encourages all efforts to reduce carbon accumulation in the atmosphere.”

KAPSARC oil and gas market expert, Hamid Al-Sadoon, explained that more investment in the hydrocarbon industry is needed to bridge the potential future gap between energy supply and demand.

“In all likelihood, hydrocarbons are here to stay. Simply because the developing world not only represents a large chunk of the demand, but they also need hydrocarbons to raise the standards of living of their citizens and develop their economies­ — that entails using more fossil fuels to reach parity with advanced nations,” he said.

Tatsuya Terazawa, chairman and CEO of Japanese think tank the Institute of Energy Economics Japan, added: “We need to face the energy challenges to better cope with high energy prices and enhance energy security while at the same time realize our long-term goals of carbon neutrality and develop the necessary supply chains for energy sustainability.” 

KAPSARC President Fahad Alajlan also spoke at the closing plenary.

“The contrast between the discussions we had over the past few days and the discussions we had during COP 26 is stark,” he said. “COP 26 discussions had a prescriptive view on what we all need to do to achieve net zero by 2050 without taking into consideration the more complex nature of nations worldwide. 

“Over the past few days, we have together adopted a more nuanced approach towards collective climate solutions that are holistic and inclusive,” he added.

During his closing remarks, Alajlan invited participants to attend the 44th Annual International IAEE event in Riyadh, which is being organized by KAPSARC and the Saudi Association for Energy Economics and being held on Feb. 4-8, 2023. It will be the first time the IAEE has hosted its annual conference in the Middle East.

KAPSARC has waived conference registration fees for all attendees.