article thumbnail

IEA: global electricity demand growing faster than renewables, driving strong increase in generation from coal

Green Car Congress

Renewables are expanding quickly but not enough to satisfy a strong rebound in global electricity demand this year, resulting in a sharp rise in the use of coal power that risks pushing carbon dioxide emissions from the electricity sector to record levels next year, according to a new report from the International Energy Agency.

Coal 221
article thumbnail

Rostec and Shenhua to invest up to $10B into coal mine development and infrastructure in Russian Far East; coal and power

Green Car Congress

Russian State Corporation Rostec, one of the largest Russian industrial conglomerates, and Chinese State Corporation Shenhua, the world’s leading producer and distributor of coal, have signed a Memorandum of Understanding. High calorific value coal concentrate will be exported to Asia-Pacific countries, mainly to China.

Coal 210
article thumbnail

HEI study links fossil fuel combustion with more than 1 million deaths globally

Green Car Congress

Coal combustion alone was responsible for half of those deaths, with natural gas and oil combustion accounting for the other half. The burning of solid biofuels, such as wood for indoor heating and cooking, is another major source of PM 2.5 , accounting for an additional 740,000 deaths, especially across South Asia and Sub-Saharan Africa.

Global 472
article thumbnail

IEF, IHS Markit: deepening underinvestment in hydrocarbons raises specter of continued price shocks and volatility

Green Car Congress

The energy crisis in Europe and Asia this winter is a preview of what we can expect in the years ahead. Global demand for oil and gas, meanwhile, has rebounded to near 2019 levels and is set to keep rising for several years. Investment slumped by 30% in 2020.

Price 416
article thumbnail

BNEF: cost of new renewables rises as inflation starts to bite

Green Car Congress

The global benchmark levelized cost of electricity, or LCOE, has retreated to where it was in 2019. New-build onshore wind and solar projects are now around 40% lower than BNEF’s global benchmarks for new coal- and gas-fired power. Cost rises are linked to increases in the cost of materials, freight, fuel and labor.

Cost Of 210
article thumbnail

BNEF, Snam, IGU report finds global gas industry set to resume growth post-pandemic; low-carbon technologies for long-term growth

Green Car Congress

After growing by more than 2% in 2019, global gas use is set to fall by around 4% in 2020, as the COVID-19 pandemic reduces energy consumption across the global economies. LNG imports reached 482 billion cubic meters in 2019, up 13% from 2018, and while this figure is expected to fall by around 4.2% MMbtu in Russia, $8.7/MMbtu

Gas 243
article thumbnail

Consortium developing green hydrogen megaproject in Oman

Green Car Congress

Given the site’s strategic location between Europe and Asia, as well as excellent solar irradiance and wind resource facing the Arabian Sea, the development is positioned to offer a secure and reliable supply of green fuels globally at a competitive price.

Oman 284