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Cop 29 presidency sets out initiatives, summit agenda
Cop 29 presidency sets out initiatives, summit agenda
London, 17 September (Argus) — The president-designate of the UN Cop 29 climate summit, Azerbaijan's Mukhtar Babayev, has set out 14 initiatives and a detailed agenda for the conference, including a new focus on methane reduction and tackling barriers to a "clean hydrogen" market. There is an "urgent need to harmonise international frameworks, regulations and standards to create viable business models" for hydrogen, Babayev said. The Cop 29 presidency will build on the declaration of intent on mutual recognition of hydrogen certification schemes, made at Cop 28 last year, it said. It plans to launch a framework to set priorities ahead of Cop 30, scheduled for November 2025 in Brazil. The Cop 29 presidency also aims to tackle "the growing problem of methane from organic waste", it said. Methane — a potent greenhouse gas (GHG) — is often a focus at Cop summits, although typically with an eye to the largest emitters, the agriculture and fossil fuel industries. Babayev has called for governments to commit to targets to cut methane from organic waste in their climate plans, as well as for more signatories of the Global Methane Pledge. The pledge, launched in 2021 at Cop 26, asks signatories to cut methane emissions by at least 30pc by 2030, from 2020 levels. The Cop 29 presidency has also developed a two-pronged pledge, which seeks to scale up global installed energy storage capacity to 1.5TW by 2030 and add or refurbish more than 80mn km of power grid by 2040. It has developed a "green energy zones and corridors" pledge as well, to maximise sustainable energy generation and ensure "cost-effective transmission over large distances and across borders". Babayev provided further details of a planned climate fund , which will be capitalised by fossil fuel producing countries and companies. "We believe that countries rich in natural resources should be at the forefront of those addressing climate change," Babayev said, noting that the direction came from Azerbaijan's president Ilham Aliyev. The fund will be a public-private partnership, with "concessional and grant-based support to rapidly address the consequences of natural disasters" in developing countries, Babayev said. It will "provide offtake agreement guarantees for small and medium-sized renewable energy producers and first-loss capital for green industrial projects", with a focus on food and agriculture, he said. Cop 29 is set to take place in Baku, Azerbaijan on 11-22 November. It will be the first Cop hosted in the Caucasus region, Babayev noted. He flagged the "extreme heat [and] water scarcity" the region faces, but also pointed to its wind and solar power potential. Topics of other programmes set out today include water, climate action in tourism and a peace initiative which emphasised the "interplay between conflict and climate change". By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Clean H2 to hit 12mn-18mn t/yr by 2030, goals in doubt
Clean H2 to hit 12mn-18mn t/yr by 2030, goals in doubt
London, 17 September (Argus) — Global supply of clean hydrogen could reach 12mn-18mn t/yr by 2030, up from less than 1mn t/yr currently online, according to industry body the Hydrogen Council. This is well short of global government targets and suggests supply will remain far below estimates of what is needed to combat climate change. Announced projects could provide 48mn t/yr of capacity by 2030, of which around 75pc would be renewable hydrogen and the remainder 'low-carbon' output from natural gas with carbon capture and storage, the association said in its Hydrogen Insights 2024 report published today. But only 4.6mn t/yr of this has moved to a final investment decision (FID) or beyond and "natural attrition" — prioritising the most viable projects — means many of the announced ventures will not materialise as planned, the Hydrogen Council said. A "probability adjustment", based on completion rates for other renewables projects, suggests only around 30pc of the announced capacity will be operational by 2030, the group predicts, although the 12mn-18mn t/yr estimate does not factor in potential future announcements. If these forecasts materialise, governments around the world are bound to spectacularly miss production targets set for 2030. The EU and the US are targeting 10mn t/yr of domestic production each, India 5mn t/yr, while Egypt, Saudi Arabia, Oman and the UAE have goals for at least 6.5mn t/yr between them. Scores of other countries have ambitious goals. The forecast would also fall far short of climate change imperatives. Paris-based energy watchdog the IEA estimated last year that 69mn t/yr of clean hydrogen would be needed by 2030 to put the world on track for net-zero emissions by 2050. The Hydrogen Council puts this at 75mn t/yr. The Hydrogen Council has pointed to global macroeconomic headwinds as a key reason for slow progress, along with uncertain regulation within the sector. A slew of recent project cancellations have counteracted the optimism arising from an increased number of FIDs . Growing up Still, the industry has shown some encouraging signs of maturity, even if it is not on track to meet the heady targets set by many governments and companies, the Hydrogen Council said. Committed funds for hydrogen projects past FID, being built, or in operation was $75bn across 434 projects as of May 2024, compared with $10bn across 102 projects in 2020, it said. The $75bn is nearly double the $39bn in this category as of October 2023. There was only a 15pc increase in the combined value of projects in the 'announced' category, to $303bn from $259bn, over the same period, signalling the pace towards realisation of projects is picking up. The near double growth in 'committed' funds was driven 60pc by investments in end-use, 40pc in infrastructure, and only 15pc by investments in hydrogen production. Investment decisions for end-use applications grew several times over between October 2023 and May 2024. This may satisfy market participants' repeated calls for a government focus on stimulating demand recently. But planned investments in end-use and infrastructure projects are lagging far behind what will be needed in a net-zero scenario, the Hydrogen Council said. Announced investments in end-use projects is $145bn below what is required by 2030, and midstream infrastructure is trailing by $190bn. But announced investments in production projects this year for the first time surpassed what will be necessary, with a $15bn surplus — although much of this could fall by the wayside. "With the current announced investments and the growth observed since last publication, investments are behind the required net-zero pathways with net-zero targets unlikely to be met," the Hydrogen Council said. By Aidan Lea Assumptions for probability adjustments % Project stage Assumed success rate In operation 100 Under construction 100 Post-FID 99 Front end engineering design 40-80 Feasibility study 5-40 Announced 0-20 - Hydrogen Council Global announced electrolyser capacity through 2030 GW As of Announced capacity Dec-20 55 Dec-21 115 May-22 175 Jan-23 230 Oct-23 305 May-24 375 - Hydrogen Council * based on the Hydrogen Council's probability adjustment, globally installed electrolysis capacity could reach 90GW by 2030 Investments until 2030 by project stage $bn Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Von der Leyen puts forward EU commissioner candidates
Von der Leyen puts forward EU commissioner candidates
Brussels, 17 September (Argus) — European Commission president Ursula von der Leyen today presented candidates for commissioner posts, confirming names put forward for portfolios including climate, energy, agriculture and trade. Von der Leyen — who was confirmed by European Parliament as Commission president on 18 July — has committed to doubling down on climate and energy policy. Her 2024-29 mandate stipulates greenhouse gas emissions cuts of at least 90pc by 2040 compared with 1990. Her commissioners, if appointed, will implement those policies. She is nominating Teresa Ribera to oversee competition policy but also "clean, just and competitive transition" that would include energy, climate, environment and other Green Deal files. Ribera is Spain's deputy prime minister and responsible for the country's ecological transition. Von der Leyen has proposed the current EU climate commissioner Wopke Hoekstra for the portfolio of climate, net-zero and clean growth. Hoekstra, who replaced previous Green Deal commissioner Frans Timmermans , will also be responsible for taxation. Other nominees include former Danish climate minister Dan Jorgensen, up for energy and housing commissioner. Former Swedish minister for EU affairs Jessika Roswall is proposed for a portfolio including environment and circular economy, and Luxembourgish Christophe Hansen, a former member of EU parliament, is proposed as agriculture and food commissioner. Von der Leyen now needs to ensure that candidate-commissioners are approved by parliamentary committees and then by plenary. Hearings will also focus on candidates' abilities to implement policies. "Parliamentary scrutiny will not cut corners," European Parliament president Roberta Metsola said. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
South Sudan eyes restart of Dar Blend crude exports
South Sudan eyes restart of Dar Blend crude exports
London, 17 September (Argus) — South Sudan is aiming to restart exports of its heavy sweet Dar Blend crude through Sudan within weeks, the country's presidency said. Around 100,000 b/d of Dar Blend has been shut in since February because of ruptures and blockages along the Petrodar pipeline which links oil fields in South Sudan to war-torn Sudan's Red Sea export terminal at Bashayer. "Sudanese engineers have accomplished the necessary technical preparations for the resumption of oil production," South Sudan said following a visit by the head of Sudan's army, Abdel Fattah Al Burhan. South Sudan said its engineers are expected to visit Sudan in the coming weeks to "familiarise themselves with the readiness of the facilities so as to jump-start production". Previous attempts to repair and restart pipeline flows have been hampered by the civil war in Sudan, which pits the army against the paramilitary Rapid Support Forces. International efforts to forge a ceasefire have been unsuccessful, with the war now in its 18th month. Production of South Sudan's medium sweet Nile Blend crude grade has not been impacted, as it is transported to Bashayer through the Greater Nile pipeline. Nile Blend now accounts for all of South Sudan's production, which stood at 60,000 b/d in August compared with around 150,000 b/d before the closure of the Petrodar pipeline, according to Argus estimates. The closure of the pipeline has put immense economic strain on South Sudan, which depends on oil sales for more than 90pc of government revenues. Meanwhile, South Sudan has postponed long-delayed national elections scheduled for December by two years. The move is seen by many as a bid by the country's leadership to cling onto power. By Aydin Calik Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Low-carbon hydrogen – when will it be competitive?
Low-carbon hydrogen – when will it be competitive?
Market drivers for HVO in 2024
Market drivers for HVO in 2024
The fight for feedstocks: UCO markets in 2024 and beyond
The fight for feedstocks: UCO markets in 2024 and beyond
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