Try GOLD - Free

Energy & Power Magazine - EP_22_12 (Energy & Power Vol 22 Issue 12 December 1, 2024)

Go Unlimited with Magzter GOLD

Read Energy & Power along with 10,000+ other magazines & newspapers with just one subscription

View Catalog

1 Month

$14.99

1 Year $149.99

$149.99

$12/month

(OR)

Subscribe only to Energy & Power

Gift Energy & Power

Cancel Anytime.

(No Commitments) ⓘ

If you are not happy with the subscription, you can email us at help@magzter.com within 7 days of subscription start date for a full refund. No questions asked - Promise! (Note: Not applicable for single issue purchases)

Digital Subscription

Instant Access ⓘ

Subscribe now to instantly start reading on the Magzter website, iOS, Android, and Amazon apps.

Verified Secure

payment ⓘ

Magzter is a verified Stripe merchant.

In this issue

The climate deal reached at COP29 on November 24, after tense negotiations in Baku, Azerbaijan, left many developing nations feeling let down. Wealthy countries committed to providing $300 billion annually in climate finance, a figure many vulnerable nations say falls far short of what’s needed. Earlier, wealthier nations had proposed $250 billion, but the G77 and China bloc pushed back, demanding $600 billion a year by 2030. Developed nations, however, called this demand unrealistic, further exposing deep divisions over who should bear the financial burden of addressing climate change. The talks also highlighted disagreements over the role of emerging economies like China, with developed nations urging them to shoulder more of the responsibility. While some progress was made—such as advancing adaptation measures and putting Article 6 of the Paris Agreement into action—key discussions on phasing out fossil fuels and setting ambitious emission-reduction targets were left unresolved. Unlike COP28 in Dubai, this year’s summit fell short on mitigation commitments. UN Secretary-General António Guterres described the deal as a step forward but criticized its lack of ambition.
Looking ahead to COP30, bridging the gap between developed and developing nations will be crucial. Achieving the goals of the Paris Agreement will require a renewed focus on boosting climate financing, sharing responsibilities more fairly, and creating stronger plans to cut emissions. Wealthier nations, in particular, need to step up, not just to honor their commitments but to match the scale of the challenges faced by the most vulnerable communities worldwide.

MOL Group to Explore in Kazakhstan

MOL Group signed a cooperation agreement with Kazakhstani national oil company KazMunayGas (KMG) to jointly explore oil, gas, and petrochemical opportunities.

1 mins

Adani's Australian Coal Unit Faces Human Rights Complaint

India's Adani Group, whose billionaire chairman has been indicted for fraud by US prosecutors, is facing accusations of racism at its Australian coal unit after an Aboriginal group filed a complaint with the country's Human Rights Commission.

1 mins

Kenya Cancels Airport, Energy Deals with Adani Group

Kenya’s president said recently he has cancelled multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after U.S. bribery and fraud indictments against one of Asia's richest men.

1 mins

Oil India to Begin Exploration with Newly Arrived Rig

Oil India Ltd. has started long-term exploration offshore India with the arrival of the Blackford Dolphin deepwater semisubmersible rig.

1 mins

Quick Rental Power Deals to be Probed: Adviser

Despite a court verdict on quick rental agreements in the power sector, exiting these deals will be challenging, said Energy Adviser Muhammad Fauzul Kabir Khan recently.

1 mins

7 Injured in Mirpur 'Gas Explosion'

Seven people from two families suffered burns in a fire believed to have originated from a gas explosion at a tin-shed house in Mirpur recently.

1 mins

BERC Gets 4 New Members

The government has appointed four new members to the Bangladesh Energy Regulatory Commission (BERC) for a three-year term.

1 mins

Excelerate Delivers Two LNG Cargoes in Nov

Excelerate Energy has delivered two cargoes of liquefied natural gas (LNG) to Petrobangla through the company's two floating storage and regasification units (FSRUs) located offshore Moheshkhali Island in November.

1 mins

Khulna Power's Q1 Profit Declines 72%

Khulna Power Company Ltd (KPCL) reported a substantial profit decline in the first quarter of the current financial year, primarily due to power plant shutdowns linked to unresolved agreements with the Bangladesh Power Development Board (BPDB).

1 mins

Titas Gas Clients Can Pay Bill Online Thru upay

Upay, a leading digital financial services provider in Bangladesh, has partnered with Titas Gas Transmission and Distribution PLC to facilitate online gas bill payments for customers nationwide.

1 mins

United Power Posts 127% Profit Growth in Q1

United Power Generation & Distribution Company Ltd (UPGDCL) posted a massive rise in profit in the first quarter, driven by higher tariffs and stable forex rates.

1 mins

Reneging on Rhetoric

A global climate deal reached on 24 November in Baku left poorer nations deeply frustrated. Wealthy countries pledged $300 billion annually, far below the $1.3 trillion expected by developing nations to address climate crises. Heated negotiations, walkouts by vulnerable nations like LDCs and AOSIS, and accusations of bad faith marred the talks. Although rules for carbon credit markets were finalized, the financial commitment was condemned as inadequate, with many calling it a \"shameful\" failure to meet urgent climate needs.

8 mins

Energy Sector Reform In 100 Days Of Interim Govt

The interim government formed after the political changeover triggered by the antidiscrimination movement has passed 100 days in office.

6 mins

ESCAP Expert Opinion - Gender Equality Enables Just Energy Transition

Gender equality lies at the heart of a just energy transition. Yet, women continue to be largely marginalized despite their critical roles as consumers, workers, and leaders – within the efforts and institutions driving the shift toward clean energy.

3 mins

Bangladesh Gender Action Plan 2024 & Climate Change Adaptation

The first Climate Change and Gender Action Plan (CCGAP) in 2013 set out a strategic framework to integrate gender considerations into the country's climate actions providing guidelines for some key sectors, including agriculture, water resources, energy, health, and livelihoods.

8 mins

No New Unabated Coal-Power Plants

Twenty-five countries at the COP29 climate summit recently pledged not to build any new unabated coal-power plants, in a push to accelerate the phase-out of the highly polluting fossil fuel.

1 mins

Yunus Calls for Creating South Asian Power Grid

Sharing an idea of greater electricity connectivity in the region, chief adviser Professor Muhammad Yunus recently called for creating a South Asian grid to share the hydroelectricity generated by Nepal and Bhutan.

1 mins

Govt to Import LNG from Brunei

Bangladesh will import LNG (liquefied natural gas) from Brunei on a long term basis under a Gto-G contract.

1 mins

OPEC Secretary General Tells COP29 'Oil is a Gift from God'

OPEC Secretary General Haitham Al Ghais told the recent COP29 climate summit in Baku that crude oil and natural gas were a gift from God, and that global warming talks should focus on cutting emissions not picking energy sources.

1 mins

Tender for Gas Pipeline from Bhola to Dhaka to be Issued in Dec: Energy Adviser

The government has planned to issue a tender in December to bring the recently discovered gas resource in Bhola to Dhaka, Power, Energy, and Mineral Resources Adviser Muhammad Fouzul Kabir Khan said on 23 November.

1 mins

Fuel Pricing Reform may Help Lower Inflation, Power Gen Cost: CPD Study

A reform in the pricing formula could reduce diesel and petrol prices by Tk10.50 and Tk11.32 per liter, leading to lower inflation and power generation costs, according to a CPD study.

1 mins

Exempt Five Gas Exploration Projects from Feasibility Study, EMRD Writes to Planning Ministry

The Energy and Mineral Resources Division approached the Planning ministry to exempt five vital gas exploration and development projects from the mandatory third-party feasibility study requirement.

1 mins

BIMSTEC Energy Centre in Bengaluru to Promote Energy Security in Region

The Bay of Bengal Initiative for Multi Sectoral Technical and Economic Cooperation (BIMSTEC) has said BIMSTEC Energy Centre (BEC) in Bengaluru will promote energy security through grid interconnections, renewable energy development and realization of energy efficiency.

1 mins

Doreen Power's Profit Falls 17%

Doreen Power Generations and Systems said its profit fell in the first quarter of the current financial year, as its plants were shut and costs soared.

1 mins

SANEM Studies Explore Bangladesh's Pathway to Sustainable Energy Transition

A national-level dialogue in the capital has underscored the urgency of transitioning to renewable energy for macro economic stability, environmental sustainability, and economic growth by addressing regulatory flaws, mobilizing investments, and fostering collaboration.

1 mins

Paid Tk 20cr Bribe for Gas Connection During AL Regime: Commerce Adviser

Commerce Adviser Sheikh Bashir Uddin has said he had to pay a bribe of Tk 20 crore to the road authorities for digging up a road to lay the 40km gas pipeline for his industry during the previous Awami League regime.

1 mins

IDCOL Promotes Rooftop Solar for Knitwear Units

Infrastructure Development Company Limited (IDCOL) hosted a workshop recently to promote the adoption of rooftop industrial solar system among knitwear manufacturers.

1 mins

Govt to Float Tenders for RE Projects Soon: Energy Adviser

The government will float tenders for the installation of 30-40 renewable energy projects soon, Power, Energy and Mineral Resources Affairs Adviser Muhammad Fouzul Kabir Khan said on 22 November.

1 mins

China, Indonesia Seal $10b in Deals Focused on Green Energy, Tech

China and Indonesia signed deals worth $10 billion at the Indonesia-China Business Forum in Beijing recently, spanning sectors including food, new energy, technology, and biotechnology, Chinese state media reported.

1 mins

Organix, O Creeds Sign MoU to Boost RE, Waste Management

Organix Energy Inc, a global project developer in renewable energy, and Onushandhani Creeds Limited (O Creeds), a Bangladeshi consultancy specializing in environmental and infrastructure projects, have signed a Memorandum of Understanding, or MoU, to collaborate on renewable energy initiatives.

1 mins

Bangladesh Lags Behind Rooftop Solar Race

Despite significant potential for rooftop solar energy, Bangladesh has lagged behind in development, while Vietnam has emerged as a regional leader in the sector.

1 mins

Chinese Investors Interested in Bangladesh's Power, Green Energy Sectors

In a collaborative meeting at the Bangladesh Investment Development Authority's (BIDA) headquarters, Chinese investors outlined significant plans for joint ventures in Bangladesh’s power and green technology sectors.

1 mins

Australia Closed on Record 3.9 GWh of Battery Storage Capacity in Jul-Sept

Eight new battery projects added up to 95% more volume than was recorded in Q3, 2023, according to a Clean Energy Council (CEC) quarterly report which also pointed to a renewables generation boom.

1 mins

Azerbaijan Breaks Ground on 240 MW Solar Plant

A ground-breaking ceremony has taken place for the 240 MW Shafag solar power plant in Azerbaijan.

1 mins

Climate Vulnerable Countries Require Enough Support: CA

Chief Adviser Professor Muhammad Yunus said most climate vulnerable countries with limited decarbonization capacity need to have adequate financial and technical support to develop green industries.

1 mins

Rizwana Asks Forest Dept No Longer to Plant Eucalyptus, Acacia Trees

Environment, Forest, and Climate Change Syeda Rizwana Hasan recently asked the forest department no longer to plant eucalyptus and acacia trees.

1 mins

Plastic Pollution Talks Must Not Fail: UN Environment Chief

Talks to agree the world's first treaty to curb plastic pollution cannot fail and must tackle both production and consumption, the UN's environment chief said recently.

1 mins

Climate Loss and Damage Fund Set to Launch into Action Next Year

Agreements have been signed to pave the way for a United Nations-backed fund for the most climate-vulnerable countries to start project financing in 2025, COP29 host Azerbaijan said recently.

1 mins

Chief Adviser for 'Zero Carbon' - Based Life-Style to Save Planet

Chief Adviser Professor Muhammad Yunus recently suggested creating a new life-style based on 'zero waste and zero carbon' to protect the planet from climate catastrophes, presenting his longstanding dream of creating a new world of three zeroes.

1 mins

Fossil Fuel Emissions to Hit New Record in 2024

Planet-warming carbon dioxide emissions from oil, gas and coal rose to a new record high this year, according to preliminary research recently that found no sign the world was moving away from fossil fuels.

1 mins

Rezwana Seeks Global Support for Transition to RE

Adviser of the interim government for environment, forests and climate change Syeda Rizwana Hasan has said timely and fair financial and technological support is need for Bangladesh's transition to renewable energy.

1 mins

ADB Launches Environment Action Plan 2024-2030

The Asian Development Bank (ADB) has launched its Environment Action Plan 2024–2030 presenting a road map for addressing the impacts of the triple planetary crisis of biodiversity loss, pollution, and climate change in Asia and the Pacific.

1 mins

Bangladesh Calls for Climate Justice, Ambitious Pre-2030 Targets at COP29

Syeda Rizwana Hasan, advisor to the Ministry of Environment, Forests and Climate Change and Water Resources, called for climate justice, urging the global community to uphold the principle of Common but Differentiated Responsibilities (CBDR).

1 mins

Dream to Achieve Goals in Life, Prof Yunus Tells Youths at COP29

Chief Adviser Professor Muhammad Yunus recently called upon the youths to dream to achieve their goals in life as the dream is a power.

1 mins

LDCs Trapped in Climate Debt Spiral

The Climate Debt Risk Index 2024 (CDRI), introduced by Change Initiative (CI), calls for a complete overhaul of the global climate finance framework.

1 mins

The Promise To Mobilize $1.0tn More Is Vague

The major challenge for COP30 is to restore the trust between the Global North and the Global South. The trust deficit continues to widen in matters substantive to solving the issues, such as ambitious mitigation and scaling climate finance. However, I believe that COP30, under the progressive leadership of Lula De Silva of Brazil, a University Professor, can expect a better outcome.

6 mins

CLIMATE SUMMIT IN BAKU BRINGS LITTLE CHEER FOR BANGLADESH

Bangladesh, a delta nation of 170 million people, is vulnerable to climate change and related disasters. Frequent floods, cyclones, and occasional droughts claiming lives and livelihoods every year speak of the depth of the climate vulnerability.

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