Japan aims to boost government use of renewable power
The Japanese government is planning to boost use of electricity generated from renewable energy sources at ministries and state-owned facilities to 30pc in the April 2021-March 2022 fiscal year as a first step towards achieving the country's 2050 decarbonisation target.
Environment minister Shinjiro Koizumi and administrative reform minister Taro Kono said today the government will instruct all ministries and state bodies to ensure at least 30pc of their power use comes from renewable sources such as solar and wind, starting from 2021-22. Renewable power use at most ministries is currently estimated at below 10pc.
Renewable power made up 18pc of Japan's total power output in 2019-20, nearing Tokyo's target of boosting renewable power generation to 22-24pc of its 2030 total power output. Renewable power output increased by 5pc on the year to 185mn MWh in the last fiscal year, according to government data.
Tokyo has pledged to make renewable energy its primary power source by 2050. Thermal power generation, including coal, LNG and oil, made up 76pc of Japan's total power output in 2019-20. LNG and gas were the biggest power-generating sources in the same year, accounting for 37pc of total power output.
Increasing output and use of renewable power has led to a fall in Japan's greenhouse gas (GHG) emissions in recent years. The country's GHG emissions declined for a sixth consecutive year to a new low in 2019-20.
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BP inks another LNG deal with Korea's Kogas: Correction
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Singapore’s Jadestone cuts 2024 output guidance
Singapore’s Jadestone cuts 2024 output guidance
Sydney, 29 April (Argus) — Singapore-listed independent Jadestone Energy has cut its 2024 oil and gas production guidance, citing disappointing first-quarter group production. Jadestone said the impact of planned and unplanned downtime across its portfolio resulted in it narrowing its guidance from 20,000-23,000 bl of oil equivalent (boe/d) to 20,000-22,000 boe/d in its results for 2023 published on 29 April. Average production for January-March was 17,200 boe/d, which Jadestone said reflected the impact on its Australian assets, including the 6,000 b/d Montara oil field, of an active cyclone season at the start of 2024. The firm produced 14,000 b/d in 2023, up from 11,500 b/d in 2022. But problems at Montara and lower realised oil prices resulted in a loss of $91mn in 2023 following a $9mn profit recorded in 2023. Jadestone's realised oil price of $87.34/boe in 2023 was 16pc lower than $103.85/boe a year earlier. Proved and probable reserves at the end of 2023 totalled 68mn boe, a 5pc increase on a year's earlier 64.8mn boe, mainly because of the acquisition of a 9.52pc stake in Thailand's Sinphuhorm gas field and increases at the Cossack, Wanaea, Lambert and Hermes oil fields offshore Australia and the Akatara gas field in Indonesia's Sumatra. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Australia’s QPM hikes gas reserves estimate
Australia’s QPM hikes gas reserves estimate
Sydney, 29 April (Argus) — The energy arm of Australian battery metals firm Queensland Pacific Metals (QPM) has announced its certified reserves have increased more than a third on previous estimates at its Moranbah gas project (MGP) in Queensland state. QPM Energy (QPME) reported a 38pc increase in its total proven and probable (2P) gas reserves to 331PJ (8.8bn m³) on 29 April compared with a March 2022 estimate of 240PJ, as it pivots towards its energy business and pauses spending on its proposed Townsville Energy Chemicals Hub (TECH) project . QPME's waste coal mine gas reserves will be developed along with 300MW of new gas-fired power generation at the firm's Moranbah facilities located in the Bowen basin, a metallurgical and thermal coal producing region. The company is also planning to build compressed natural gas and micro-LNG facilities to distribute gas to northern Queensland customers. The company will seek to increase its output by 25pc to 35 TJ/d (935,000 m³/d) by late 2024, up from October-December 2023's average of 28 TJ/d by drilling a further seven wells by the year's end. A rig has arrived on site for drilling the first well of its Teviot Brook South Well programme, QPM said on 24 April. Australian independent Blue Energy, which is developing the Sapphire pilot project with 59PJ of 2P reserves near MGP, said QPM has confirmed it intends on taking gas Blue makes available to the MGP, in line with an existing non-binding agreement signed in June last year. Blue and QPME's parent company QPM also have a separate non-binding deal for supply of 7 PJ/yr of gas over 15 years to the TECH project. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
STB chair Oberman to leave rail agency on 10 May
STB chair Oberman to leave rail agency on 10 May
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