Page 5 - Energy Sector

German chancellor Olaf Scholz in Canada to diversify energy supply

German leader Olaf Scholz said Monday he's working as fast as he can to reduce Germany's dependence on Russia for energy, but Canadian Prime Minister Justin Trudeau said a business case would be needed to send gas from Canada to Europe. Scholz, who took over from Angela Merkel late last year, is in Canada this week and will sign a deal with Trudeau to supply clean hydrogen to Germany. Canada plays a really, really central role for the development of green hydrogen, Scholz said. That's why we are very glad to be able to expand our cooperation in this area on this occasion too. He said Germany would like to be a partner of Canada in the future export of green hydrogen, but in the meantime natural gas will be needed. Trudeau, however, played down the likelihood of direct gas exports to Germany due to logistical constraints and costs. Trudeau said it would need to make business sense. There are a number of potential projects that are in the books for which there has never been a strong

India's self-reliance ambition in energy sector faces rising import hurdle

During the financial year 2021-22, India's petroleum imports was around 23.8 per cent of its gross imports and the country was dependent on imports for 86 per cent of its crude oil requirement

JSW Energy unit to buy Mytrah Energy's renewable assets for Rs 10,530 cr

This is the third-biggest acquisition in the renewable energy space in India

Should set up small modular reactors to meet energy demands: NITI member

Niti Aayog member VK Saraswat suggested that the government should focus on setting up small modular reactors as it would help meet country's energy needs and in replacing aging thermal power plants

India among leaders in annual renewable energy investment: UN report

The report mentions WFP estimates of an increase of 47 million acutely hungry people in 2022 across 82 countries due to the lingering effects of Covid-19 and the continuing Russian-Ukraine war

PM Modi asks states to clear payments to electricity distributors

Prime Minister Narendra Modi on Saturday urged state governments to clear their bills and dues to power distribution firms to help ensure stability in the energy sector

EU embargo on Russian gas 'impossible', says Austrian Chancellor Nehammer

Austrian Chancellor Karl Nehammer has said that an embargo on Russian gas in the European Union (EU) is "impossible" due to EU countries' heavy dependence on Russian energy

IL&FS sells 2 firms in energy business for Rs 77.5 cr to reduce debt

IEDCL sold 27.75 per cent of its stake in Urjankur Nidhi Trust, where Maharashtra Energy Development Agency has a 50 per cent stake and Shree Datta Shetkari Sakhar Karkhana Ltd holds 22.25 per cent.

Greece, Saudi Arabia to explore further cooperation in several sectors

Greece and Saudi Arabia will explore further bilateral cooperation in many sectors with emphasis on energy, as announced by the two sides during 2-day visit of Saudi Arabia's Crown Prince to Athens

European Union reaches deal to ration gas amid Russian cut-off fears

Approves draft law to cut gas demand by 15% from August through March

Green shift: Costs and opportunities

The tectonic changes underway in the energy ecosystem present the chance of a lifetime for investors

Centre set to abolish reverse auction bidding in wind energy sector

"The lowest tariff, or L1, would be averaged for these states. The power from these projects will be bundled and sold by SECI," said a source

Coal Secretary stresses on need to increase production of dry-fuel

Jain said NCL is eager to promote sustainable coal mining which is getting reflected in the recent initiatives by the coal miniratna, the coal ministry said in a statement.

This winter, Europe could face energy rationing, warns Shell CEO

European consumers could face the prospect of energy rationing this winter as costs continue to soar amid the risk of Russia cutting off gas supplies, Shells chief exec has said, the media reported.

Global energy crisis hastening end of fossil fuel dominance, says India

Renewables paired with energy storage are now cheaper than coal after the fuel's price surged in recent months, while fossil sources are also experiencing a lack of investment, RK Singh said

Global squeeze on energy supply may get worse, warns IEA's Fatih Birol

"The world has never witnessed such a major energy crisis in terms of its depth and its complexity," IEA Executive Director Fatih Birol said Tuesday at a global energy forum in Sydney

CDPQ buys add'l 10% in Mumbai-based Apraava Energy at Rs 660 cr deal value

With this, the Canadian pension fund's stake in the firm goes up to 50%

Australia's Woodside to invest $10 mn in methane recycling firm String Bio

The investment is a part of Woodside's goal to spend $5 billion on new energy and low-carbon services by 2030, in line with a global push for cleaner energy

Euro falls lowest since 2002 against USD on concerns over energy prices

Euro drops to its lowest since two decades over energy supply concerns

Will continue to do what is best in interest of own energy security: India

PM Modi underlined at the G7 summit that energy security has become a very challenging issue in the wake of the Russia-Ukraine conflict and India would do what it thinks is best