In today’s talking points Renewables to fuel future of Sino-Africa energy ties, Queensland could reap $24bn renewables boom if it phases out coal generators, Australian coal exports hit record high and China signs a record deal to buy LNG from Qatar.
Renewables to fuel future of Sino-Africa energy ties
Africa’s energy demands are rising due to the rapid development and transformation in the region, and its future could predominately be powered by clean and more sustainable energy. The United Nations Environment Program (UNEP) claimed that Africa could be one of the most promising markets for renewable energy in the next decade due to its abundant solar, wind, biomass and other resources, which can be harnessed to drive low-carbon economic growth, reduce the continent’s dependency on environmentally-damaging fossil fuels.
China has partnered with Egypt to develop a number of solar projects, and with Egypt’s desert accounting for 90% of its land mass, the country has huge potential for solar energy. Two Chinese-based companies, HydroChina and CGC Overseas Construction Group, have also developed wind farms in Ethiopia.
The former UN Secretary-General Ban Ki-moon said that “these projects are good examples of how organizations can form partnerships through South-South cooperation. They are the positive actions taken by China and African countries to realize the 2030 Agenda for Sustainable Development.”
Queensland could reap $24bn renewables boom if it phases out coal generators
The introduction of Government policy to reduce carbon emissions and the phase-out of coal-fired power stations, could see an estimated $24 billion renewable energy boom in regional Queensland.
Green Energy Markets released a new report that found huge potential for the renewable energy industry if all planned projects were to proceed. These projects have the potential to secure employment for 34,000 workers in construction.
The spokeswoman for Solar Citizens Queensland, Louise Matthiesson, claimed that “without strong, consistent and ongoing policy support for renewables, it is highly likely Queensland will miss out on many of these opportunities and fall short of reaching its target of at least 50% renewable energy by 2030.”
Source: The Guardian
Australian coal exports hit record high
The Australian Bureau of Statistics released data on Tuesday revealing that the value of thermal coal exports rose 14 per cent in July, on the back of high demand from Asia.
In China alone, coal-fired power generation was up 7.8 percent year on year between January and July compared to last year.
Australia’s Minister for Resources said the figures proved that there “will always going to be strong demand for Australian coal in coming years” and strengthened the case for Adani’s controversial proposed mine in Queensland’s Gailee Basin.
Combined coal was Australia’s top export for the third month straight in July, beating iron ore.
China signs a record deal to buy LNG from Qatar
PetroChina has just signed a 20-year agreement with QatarGas to buy 3.4 million tonnes per annum of LNG. This is PetroChina’s largest LNG supply agreement to date.
This deal comes as China’s gas imports (both LNG and pipeline gas) spiked 37 percent year on year as it looks to replace dirtier coal powered plants with cleaner natural gas.
It also comes after China threatened to set a 25 percent tariff on American LNG imports as part of retaliatory measures against President Trump’s ongoing trade war.
Source: Oil Price