China cuts gas prices for industrial users
China has cut gas prices for industrial and business users to combat pollution issues. The cuts will vary per city and will come into effect on the 20th November, with expected savings of 43 billion yuan ($6.7 billion). China has been slow to alter gas prices particularly for northern China, even as shipping costs have fallen by more than 60 percent from a high in 2014. The Government has begun lowering gas prices in an effort to reduce reliance on coal to less than 62 percent by 2020. For full article click here.
Further Chinese interest in Australian infrastructure
Bidding has begun for the lease of NSW’s TransGrid. Three of the four bidders have foreign backing. The State Grid Corporation of China is bidding in partnership with Macquarie’s Infrastructure and Real Estate fund. Foreign purchases of Australian companies have already amounted to $72.5 billion AU this year, jumping from $39.4 billion AU in 2014. For full article click here.
China tops clean energy investment, again
Climatescope, a joint research paper from Bloomberg and the UK Department for International Development, has shown China to be leading the way in clean energy development among the 55 emerging nations studied. The paper examines key areas including spending, capacity development and policy development. China added 35 gigawatts of new renewable energy and attract $89 billion US of new capital investment in 2014, more than Sub-Saharan countries excluding South Africa and Nigeria combined. For full article click here.
Paris climate change conference 2015
The 21st Conference of the Parties in Paris begins this December , where the Conference looks to build upon the progress that has been made since the conference in Copenhagen in 2009.
BHP has predicted that carbon pricing, at a speculative $80 US per ton, could erode almost 5% of BHP’s value. University of London researchers urge that two-thirds of the world’s current fossil fuel reserves need to remain in the ground to hinder dangerous temperature increases in line with the Conferences aims. For full article click here.
Dalrymple Bay coal terminal export drops to India
Coal exports to India from Queensland’s Dalrymple Bay have dropped 228% this month.
This is further a drop from last year’s October export figures of 735000 MT and from a high of earlier in the year 1.26 million MT in February. This news however has been somewhat alleviated through an increase of demand from Japan and a slight increase by China. For full article click here.