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Energy & Power Magazine - EP_22_11 (Energy & Power Vol 22 Issue 11 November 16, 2024)

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In this issue

The first week of the UN Climate Summit in Baku, Azerbaijan, has passed, but not much has been accomplished. Negotiators are frustrated, as no draft agreements have been prepared to guide the ministerial meetings in the second week. Almost every major issue has been left for the ministers to do the tough job of untangling complex and contentious agendas. Many are starting to worry that the Baku Summit could end up in complete failure. Despite being tagged as the "Finance COP," hopes for significant progress on climate action seem to be dwindling. If things continue down this path, Baku could end up being remembered as the second major failure after the Copenhagen summit. Some negotiators are already pointing fingers at the Baku Presidency, blaming it for a lack of leadership and direction. One negotiator summed up the situation bluntly: While developed nations talk about the importance of climate financing and addressing environmental impacts, their actions don’t match their words. The political will to back these promises simply isn’t there. Instead, climate financing is beginning to look more like a business model—one that risks trapping developing countries into debt cycles. Alarmingly, some of the poorest countries are already feeling the impact. Closer to home, Bangladesh has received a stark warning from climate activists – if it isn’t cautious, the country could find itself caught in the same debt trap by 2030. It’s a sobering reminder that decisive action is needed now to avoid long-term consequences.

Exxon CEO on US Election: 'Not Sure How 'Drill, Baby, Drill' Translates into Policy'

The outcome of the US presidential election on Nov. 5 won’t affect oil production levels in the short to medium term, Exxon CEO Darren Woods said recently.

1 mins

Mitsubishi Power Receives Order for Facility Retrofit at Darajat Geothermal Power Plant in Indonesia

Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI), has received a turnkey contract from Star Energy Geothermal Darajat II, Limited (SEG), a geothermal power producer in Indonesia, for the retrofit of Unit 3 at its Darajat Geothermal Power Plant in Java.

1 mins

JERA Completes Share Purchase in Scarborough Gas Venture

Woodside Energy has transferred a 15.1% interest in the Scarborough joint venture (JV) offshore/onshore Western Australia to Japanese power utility JERA for $1.4 billion.

1 mins

Khulna Power Shuts Down Plants for Deal Uncertainty

Khulna Power Company Ltd (KPCL) has announced the shutdown of its 115MW KPC Unit II plant in Khulna and the 40MW Noapara plant in Jashore, citing uncertainty over power purchase agreements (PPAs) with the Bangladesh Power Development Board (BPDB).

1 mins

Two Killed, 7 Hurt in CNG Filling Station Blast

Two people were killed and seven injured in a gas explosion at a CNG filling station in Mymensingh city's Rohmotpur area recently.

1 mins

Petrobangla Signs MoU with JU, SUST for Research Work

Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) has signed two separate memoranda of understanding (MoU) with the Geology Department of Jahangirnagar University (JU) and the Petroleum and Mining Engineering Department of Shahjalal University of Science and Technology (SUST) for research work through sharing information.

1 mins

Bids Invited to Import Two More Spot LNG Cargoes

State-run Rupantarita Prakritik Gas Company Limited (RPGCL) floated tenders to purchase two more spot LNG cargoes for December 4-5 and December 7-8 delivery windows, a senior RPGCL official said recently.

1 mins

Diesel, Kerosene Prices Cut for November

The government has reduced diesel and kerosene prices by Tk 0.50 per liter for November while petrol and octane prices will remain the same.

1 mins

27th AGM of IDCOL Held

The 27th Annual General Meeting (AGM) of Infrastructure Development Company Limited (IDCOL) was held on 06 November 2024 at its Board Room in Dhaka.

1 mins

Govt Plans to Drill 19 More Gas Wells in Bhola by 2028

Power, Energy and Mineral Resources Adviser Muhammad Fouzul Kabir Khan recently said the government has a plan to drill 19 more natural gas wells in Bhola by 2028 as part of intensifying the country's gas production efforts.

1 mins

LPG Price Almost Unchanged for November

The price of liquefied petroleum gas (LPG) remains almost the same for November.

1 mins

Big Polluters Step Aside

Mollah Amzad Hossain, Afroza Akther Pervin Aditya Hossain in Baku, Azerbaijan and Saleque Sufi in Queensland, Australia

7 mins

Roadmap for Bangladesh From Energy Crisis to Energy Prosperity

In the 1970s, Bangladesh's power generation largely depended on indigenous natural gas.

9 mins

Sustainable Development Initiatives Of Bangladesh

We live in a blue world, surrounded by the blue Ocean, the living mysteries.

8 mins

Looming Consequences Of Scrapping 31 Green Energy Lols

Recent newspaper reports on the suspension, cancellation, and potential renegotiation of Letters of Intent (LoIs) in the renewable energy sector have captured my attention.

5 mins

Ship Gas to Bangladesh without Payment Worries: WB to Global Suppliers

The World Bank will assist Bangladesh in securing energy from global sources and managing outstanding payments, said its Country Director for Bangladesh and Bhutan, Abdoulaye Seck.

1 mins

QatarEnergy Inaugurates Four LNG Carriers

QatarEnergy held naming ceremonies to inaugurate four of the dozens of conventional-size LNG vessels it had ordered from South Korean builders.

1 mins

RNPP: Start-Up Standby Boiler Room Starts Functioning

The first ignition to supply process steam began at the start-up standby boiler room at Rooppur Nuclear Power Plant.

1 mins

Bangladesh Needs Smart Grid System to Keep Power Supply Stable: Energy Adviser

Energy Adviser Dr Muhammad Fouzul Kabir Khan has said the power transmission system has been facing new kinds of challenges as electricity consumption has radically changed over the years.

1 mins

Chevron's Q3 Earnings Down $2.0b

Chevron Corp. had third-quarter 2024 earnings of $4.5 billion, down from $6.5 billion in the same quarter of 2023.

1 mins

Rizwana Launches National Action Plan to Tackle Air Pollution

The Department of Environment (DoE) recently launched the National Air Quality Management Action Plan to improve air quality and enforcement mechanisms.

1 mins

Mega Power Deals Must be Amended

The mega power purchase agreements signed for the Rooppur, Matarbari, Payra and Adani power plants by the immediate past Awami League regime must be scrutinized and amended, said the National Committee to Protect Oil, Gas, Mineral Resources, Power and Ports.

1 mins

Saudi Aramco Says Quarterly Profit Drops 15% on Low Oil Prices

Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third-quarter profit, citing low oil prices.

1 mins

IAEA Elevates Rosatom Technical Academy's Collaborating Center Status

Rosatom Technical Academy and the International Atomic Energy Agency (IAEA) signed an agreement to extend the Academy’s status as an IAEA Collaborating Centre in nuclear knowledge management and human resources development.

1 mins

Govt Plans to Raise Daily Gas Production by 648 mmcfd by 2025

The interim government has planned to increase gas production by 648 million cubic feet per day by December 2025 through the installation and workover of 50 wells.

1 mins

Rosatom Manufactures Nuclear Fuel for Bolivian Research Reactor

Novosibirsk Chemical Concentrates Plant, an enterprise of Rosatom’s nuclear fuel division has completed the manufacture of nuclear fuel for the initial loading of an under-construction research reactor in Bolivia.

1 mins

2 Units of Matarbari Power Plant Go Offline Amid Coal Shortage

The power generation of the two units of the Matarbari 1,200MW coal-fired plant in Moheshkhali upazila of Cox's Bazar has been stopped due to a shortage of coal.

1 mins

Scrapped FSRU Project may Get New Life under Fresh Move

After scrapping a deal signed by the previous government with the local Summit Group, the interim government has now taken a fresh move to build a new floating LNG terminal of a similar type at the same site on the Moheshkhali island, said sources.

1 mins

Global Atomic Quiz on November 10

In celebration of World Science Day, Rosatom’s international project Global Atomic Quiz 2024, was held on November 10.

1 mins

CA Seeks Robust Saudi Investment in Bangladesh

Chief Adviser Professor Muhammad Yunus recently urged Saudi Arabia to invest more in Bangladesh as he sought enhanced energy and economic cooperation to boost ties between the two friendly nations.

1 mins

Mission Green Bangladesh Receives PMI Social Impact of the Year Award

As recognition for its exceptional contribution to social project management in both public and private sectors, the environmental and volunteer organization Mission Green Bangladesh has been awarded the PMI Social Impact of the Year Award 2024.

1 mins

BEZA May Build Solar Parks in Mirsharai EZ

The Bangladesh Economic Zones Authority (Beza) is considering utilizing unused land to establish solar power parks at the Mirsharai Economic Zone in Chattogram, the largest industrial enclave in the country.

1 mins

Bangladesh Introduces 10-Year Tax Exemption Plan for Renewables

Bangladesh has unveiled a 10-year tax exemption package for renewable energy projects. The new tax breaks will apply to power plants that begin commercial operation between July 1, 2025, and June 30, 2030.

1 mins

Major Indian Solar Panel Maker Dazzles in Market Debut

India's top solar module producer Waaree Energies shone on its market debut recently after raising $514 million, as traders bet on increased global demand for clean energy components.

1 mins

EIF Supports Zencap Asset Management in Final Closing of Sustainable Transition Fund, Raising €255 Million

The European Investment Fund (EIF) is announcing its investment of €75 million under InvestEU in Zencap European Sustainable Transition II (ZEST II), a private debt fund dedicated to mezzanine financing for energy transition projects throughout Europe.

1 mins

Another Bangladeshi Factory Obtains Platinum LEED Certification

One more Bangladeshi garment factory, Cotton Field BD Limited, obtained the platinum LEED certification given by the US Green Building Council (USGBC).

1 mins

$7.3b and Counting: Pine Gate Closes on Investment from Blackstone

Renewable energy developer, financer, and operator Pine Gate Renewables has closed on a $288 million preferred equity investment with funds affiliated with Blackstone Credit and Insurance (Blackstone) supporting six solar projects in two states totaling 780 megawatts (MW) of capacity.

1 mins

Masdar, Sarawak Energy, Gentari Plan Large-Scale Floating Solar in Malaysia

Abu Dhabi Future Energy Co. (Masdar) is teaming up with Malaysia's Sarawak Energy and Gentari to assess the potential for a large-scale floating solar array on the northwestern coast of Borneo.

1 mins

EIB Commits €650m to Support Green Energy Transition

The European Investment Bank (EIB) and Elia Transmission Belgium (ETB) have signed a €650 million green credit facility agreement, further broadening ETB’s financing portfolio and advancing Europe’s transition from fossil fuels to green energy.

1 mins

Concerted Efforts Essential for Welfare of Climate Internal Migrants

Speakers at a participatory meeting unanimously viewed that concerted efforts of all the government and non-government organizations concerned can be the crucial means of welfare of people of climate internal migration.

1 mins

Environment Advisor Calls for Urgent Climate Action at EU's COP29 Reception

Environment, Forest and Climate Change Advisor Syeda Rizwana Hasan, has emphasized the pressing need for global unity in addressing climate change.

1 mins

COP29: CSOs for Ambitious Climate Action

The Climate Justice Alliance-Bangladesh, a coalition of 40 civil society organizations led by the Centre for Participatory Research and Development (CPRD), has urged COP29 to prioritize ambitious climate action, with a focus on the needs of Least Developed Countries.

1 mins

Fossil Fuel Main Driver of Climate Change: Rizwana

Environment Adviser Syeda Rizwana Hasan recently said fossil fuel use is one of the main drivers of climate change.

1 mins

The Other GHGs Warming The Planet

While carbon dioxide, or CO2, is the best known greenhouse gas, several others, including methane and nitrous oxide, are also driving global warming and altering the Earth's climate.

1 mins

Climate Change Could Cut GDP in Asia, Pacific by 17pc by 2070

Anew research has found that the impacts of climate change could reduce gross domestic product (GDP) in developing Asia and the Pacific by 17 per cent by 2070 under a high-end greenhouse gas emissions scenario, rising to 41 per cent by 2100.

1 mins

Nations Gather for Crunch Climate Talks in Shadow of US Vote

World leaders kick off UN climate talks next week, days after a knife-edge US election that could send shockwaves through global efforts to limit dangerous warming.

1 mins

Climate Conference Must Address Challenges of Developing Countries Like Bangladesh: SPIL

The U.N. Climate Change Conference next week needs to urgently address major gaps in funding and technology and adopt fresh approaches to meet the challenges of developing countries with vulnerable communities such as Bangladesh, Summit Power International Limited (\"SPIL\"), the country's largest private sector power generation company, said recently.

1 mins

Climate Change Posing Serious Threats to Livelihoods: Farida Akhter

Fisheries and Livestock Adviser Farida Akhter recently said climate change is already impacting the country’s fisheries and aquaculture sectors, posing serious threat to livelihoods.

1 mins

Climate Funding Getting Increasingly Difficult

The COP29 has been tagged as a financing COP. The NCQG may be US$1.0 trillion.

4 mins

IN HISTORIC STEP, NEPAL'S HYDROPOWER FLOWS INTO BANGLADESH

The Himalayan nation of Nepal has the luxury of having a surplus in electricity thanks to the bounty of rivers flowing through the land-locked country.

3 mins

Read all Stories from Energy & Power

Energy & Power Magazine Description:

Publisher: Energy-&-Power

Category: Business

Language: English

Frequency: Fortnightly

Energy & Power (EP) is the first and only full-fledged fortnightly magazine that deals with the much cried over energy and power sector in Bangladesh. Since its inception in June 16, 2003, EP is working very hard to

a) Develop public consciousness on sustainable and even development of energy sector;

b) Assist the policy makers in assuming pragmatic policies for a balanced development of the energy sector;

c) Continuous supply of information among public; and

d) Develop a group of reporters in this field

Bangladesh is an energy deficit country like other countries in the region and most of the people do not have adequate access to the energy and power. The country is completely dependent on fossil energy source; at the same time, it is one of the most inefficient energy using countries in the world.

It lacks efficiency in planning, management, generation, distribution, load management and even at the end user level consumption.

In spite of the above drawbacks, issues relating to utilization of renewable energy, exploring alternative use of energy, planned use of environment friendly energy are significantly undermined in Bangladesh.

The biggest challenge of Bangladesh is to find a path for balanced growth of its energy sector. Despite its resource constraints, EP dynamically strives to provide theenergy sector with a flow of information and create public awareness; so that policymakers get guidelines and platforms for its sustainable development.

Code of Ethics

EP believes that public enlightenment is the forerunner of justice and the foundation of democracy. The duty of a journalist is to further those ends by seeking truth and providing a fair and comprehensive account of events and issues and professional integrity is the cornerstone of a journalist's credibility. We strive to serve the public with thoroughness and honesty.

The EP editorial policy is to share a dedication to ethical behavior and uphold the zero conflict of interest principles and highest standards of practice.

EP believes in

o Seeking truth and reporting the same

o Minimize harm