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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

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The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. million b/d since the start of 2020, contributing 184,000 b/d to the global decline in 2021. million b/d in 2022 and by an additional 1.6

Global 448
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BNEF forecasts global energy storage market to grow 15-fold by 2030 to 411 GW/1194 GWh

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An estimated 387GW/1,143GWh of new energy storage capacity will be added globally from 2022 to 2030, according to the forecast—more than Japan’s entire power generation capacity in 2020. The US and China are set to remain the two largest markets, representing more than half of global storage installations by the end of the decade.

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UTM Offshore signs FEED agreement for Nigeria’s first floating liquefied natural gas (FLNG) facility

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With factors such as the Russian-Ukraine war, increases in energy demand and global energy transition-related policies fueling the energy crisis at global scale, the AEC strongly believes African gas has a huge role to play in liberating global economies and the global energy market.

Nigeria 186
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Baker Institute report: China has positioned itself as a gatekeeper to the energy transition; nickel case study

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The global push to convert the world to electric vehicles will cause supply chain complexities that could undermine the alternative energy transition in the United States, according to a new report from Rice University’s Baker Institute for Public Policy. Global Nickel Trade and Chinese Dominance.

China 416
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SpaceX Starlink Starshield to provide internet service to governments

Teslarati

Starshield can also provide global communication services to governments. Starlink’s crucial role in the Ukraine-Russian War might have spawned the creation of Starshield. Ukraine has been vocal about Starlink’s contribution to maintaining communication among its armed forces and its people throughout the war with Russia.

Ukraine 98
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BNEF: cost of new renewables rises as inflation starts to bite

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The global benchmark levelized cost of electricity, or LCOE, has retreated to where it was in 2019. BloombergNEF’s estimates for the global LCOE for utility-scale PV and onshore wind rose to $45 and $46 per megawatt-hour (MWh), respectively, in the first half of 2022. The latter cost at $74 and $81 per MWh, respectively.

Cost Of 210
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Azerbaijan Plans Caspian-Black Sea Energy Corridor

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The scheme ’s proponents say this Caspian-Black Sea energy corridor will help decrease global carbon emissions, provide dependable power to Europe, modernize developing economies at Europe’s periphery, and stabilize a region shaken by war. If selected, “the project could qualify for 50 percent grant financing,” says Gachechiladze.