Asia Pacific Energy Review, Sept 3-9
This column focuses on the previous week's main energy events in Asia and the Pacific.
Australia / Renewables
Coal generated 49.1% of the country's electricity, while renewables accounted for 48.7%. Climate finance expert Tim Buckley said August's record figures were caused by strong winds and a warm start to spring that reduced demand on the grid by up to 20%.
China / Energy transitionÂ
Primary aluminum smelters are producing record volumes and the domestic market surplus is exported in the form of semi-manufactured products. China's primary aluminum production hit a monthly peak of 3.69 MMT in July, according to the International Aluminium Institute.
China / Hydrogen
Chinese electrolyzer manufacturer Hygreen Energy and its partners will invest more than €2 billion in green hydrogen projects in Spain’s region of Andalusia. The electrolyzer production factory will have a capacity of up to 5 GW, and will initially focus on 5-MW electrolyzers.
India / Biofuel
A push to make more corn-based ethanol has turned India (Asia's top corn exporter) into a net importer for the first time in decades. The jump in import demand comes after India in January hiked the procurement price of corned-based ethanol to drive a shift away from sugarcane-based ethanol for blending in gasoline.
India / Power grid
As record-breaking heatwaves ravaged most of India earlier this year, thousands of overloaded transformers on power lines were damaged and caught fire, causing 12-hour-long blackouts even in big cities.
LNG
North America’s LNG export capacity is set to more than double between 2024 and 2028, from 11.4 Bcf/d in 2023 to 24.4 Bcf/d in 2028, if projects now under construction eventually launch as planned.Â
LNG Carriers
Chinese shipyards are taking more market share in building LNG vessels. Strong global demand for LNG has left shipyards in South Korea unable to meet the need for new vessels. Although Chinese shipyards build 6% of the current fleet (by volume), they are set to deliver over 20% of new LNG carriers on order. The average cost of building an LNG carrier in China is about $247 mln, compared with $265 mln in South Korea.
Malaysia / Aviation emissions
Malaysia aims for net zero emissions in its aviation sector by 2050, the transport ministry said. The blueprint includes reducing carbon emissions by up to 18% in aircraft technology, and increasing the use of sustainable aviation fuel to reduce emissions by 46%.
Vietnam / Offshore wind
Norway's Equinor canceled plans to invest in Vietnam's offshore wind sector and entirely closed its office in the country. Delays in regulatory reforms have recently pushed some would-be investors to reconsider plans. This is the first time Equinor has closed an international office focused on offshore wind development.