Eni to work with Egypt on hydrogen production

Eni is working with Egypt on potential hydrogen projects. (Supplied)
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Updated 08 July 2021
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Eni to work with Egypt on hydrogen production

  • he partnership aims to assess the technical and commercial feasibility of targeted green and blue hydrogen production projects in the country

RIYADH: Egypt has signed an initial agreement with Italy's oil and gas company Eni, to cooperate on 'green' and 'blue' hydrogen production in Egypt.
The partnership aims to assess the technical and commercial feasibility of targeted green and blue hydrogen production projects in the country, Asharq Business reported, citing a filing.
While the existing market for hydrogen is tiny today, it could be worth as much as $700 billion annually by 2050, according to BloombergNEF. It comes as a number of countries across the Middle East, including Saudi Arabia, invest in new hydrogen projects.
Eni will work with Egypt on how to generate electricity from renewable energy sources while at the same time storing carbon dioxide in aging natural gas fields.
The study also includes identifying the potential local market for hydrogen as well as possible export opportunities.
Abu Dhabi National Energy Co. (TAQA) and Abu Dhabi Ports this week also signed an initial agreement to build a green hydrogen-to-ammonia project powered by a 2 GW solar array.
The companies plan to build the facility in Khalifa Industrial Zone Abu Dhabi, WAM reported.


COP28: Second day of leaders’ summit at UN climate talks

Updated 9 sec ago
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COP28: Second day of leaders’ summit at UN climate talks

World leaders continue on their second day of speechmaking at the high-level session of the United Nations climate conference in Dubai to deliver their views on what their nation is doing and what they think others should do.

Friday saw leaders focus on the scale and imminent threat of climate change and the drastic action needed to curtail global warming before it becomes an even worse catastrophe.

UN Secretary-General Antonio Guterres took aim at fossil fuels. 

Saving the planet from climate change and keeping warming within the Paris Agreement's goal of 1.5°C means eliminating oil and gas use, Guterres said.

“Not reduce, not abate. Phase out,” the UN chief said.

The sickness of climate change is something only the world's leaders can cure, he said.

“We are miles from the goals of the Paris agreement and minutes to midnight for the 1.5°C limit, but it is not too late,” the secretary-general said. “We can — you can — prevent planetary crash and burn.”

The Israel-Hamas conflict also loomed large in the proceedings with several leaders voicing sympathy for the Palestinians in Gaza as the week-long ceasefire ended, and vigorous efforts to extend the truce collapsed.

Israel bombarded eastern areas of Khan Younis in southern Gaza right after the truce ended.

“This year’s conference of the parties must recognize even more than ever that we cannot talk about climate change in isolation from the humanitarian tragedies unfolding around us,” King Abdullah II of Jordan said in his speech.

“As we speak, the Palestinian people are facing an immediate threat to their lives and wellbeing. In Gaza over 1.7 million Palestinians have been displaced from their homes. Tens of thousands have been injured or killed in a region already on the front line of the climate change.”

The high-level session was also a day of financial commitments, with host country UAE announcing the establishment of ALTÉRRA, the largest private climate vehicle, and a $30 billion commitment to the vehicle with the aim of mobilizing $250 billion of private-sector investment by 2030.


Cooperation with Saudi Arabia central to Japan’s green ambitions

Updated 02 December 2023
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Cooperation with Saudi Arabia central to Japan’s green ambitions

  • ‘We are very dependent on other countries,’ Foreign Ministry press secretary says
  • Kobayashi-Terada Maki speaking as COP28 opens in Dubai

DUBAI: Japan must maintain close partnerships with countries like Saudi Arabia and the UAE if it is to achieve its goal to be a carbon-neutral economy by 2050, its Foreign Ministry press secretary said.

Kobayashi-Terada Maki made the comments in an interview with Arab News Japan as COP28 opened in Dubai.

“We are very dependent on other countries in terms of energy, and even though we are going to increase energy efficiency, we certainly need means of energy production,” she said.

Japanese companies and entities would be signing cooperation deals throughout the climate summit in the UAE, she said.

Japan is one of the only G7 countries that is close to achieving its environmental goals. Kobayashi-Terada said the country was on track to reach its target of reducing greenhouse gas emissions by 46 percent by 2030, compared with 2013 levels, and was working toward its goal of achieving net zero by 2050.

“We are on the right trajectory for really achieving our objectives right now. So that’s what we are very much proud of and we are very confident.”

The Japanese government has put in place a green transformation program, under which it aims raise 150 trillion yen ($1.02 trillion) in private-public investment to help achieve its goals.

“We are also using carbon pricing to subsidize companies that are heavy emitters to support energy efficiency,” Kobayashi-Terada said.

“By 2028, we will charge according to the amount of CO2 emissions for companies who are importing fossil fuels. By 2033, we are also pricing emissions so that the heavy emitters will pay for insurance. We will gradually increase this price so that companies can have incentives to reduce emissions.”

Later this month, Japan’s Ministry of Economy, Trade and Industry will host the Asia Zero Emission Community, which aims to encourage greater cooperation between Asian countries on reducing emissions.

“We will work together with Asian countries to utilize cutting-edge technology and also provide assistance to develop their capacity,” Kobayashi-Terada said.

Speaking at COP28, Japan’s Prime Minister Kishida Fumio said his government would increase its lending to the World Bank and the African Development Bank.

“We are going to be the first contributors and we will contribute $10 million,” the press secretary said.

* This article originally appeared on Arab News Japan, click here to read it.


New Lord Mayor of London hails maturity of Gulf economies

Updated 02 December 2023
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New Lord Mayor of London hails maturity of Gulf economies

  • Michael Mainelli, heading to COP28 in UAE, says appointment of new UK foreign secretary will ‘help deepen connections with Saudi Arabia’
  • Mainelli tells Arab News he is ‘extremely impressed at the commitment to net zero’ in both Gulf states

LONDON: Maturation of Gulf states’ economies presents further opportunities to deepen the relationship between the region and the UK, the new Lord Mayor of the City of London told Arab News before departing for COP28 in the UAE.

Just a few weeks into the role and Michael Mainelli was on hand, like his predecessor, to witness yet another British Cabinet reshuffle.

But with the return to frontline politics of former Prime Minister David Cameron, Mainelli is optimistic that this will further strengthen ties with Saudi Arabia, one of several Gulf states to have announced participation in a £30 billion ($37.9 billion) investment pledge into the UK.

“When it comes to that investment it’s enormously welcome, but what I think is great is it shows how Saudi and other Gulf states have really matured their economies,” Mainelli said.

“They’ve gotten a better understanding of what they want to achieve with their sovereign wealth funds beyond just investments and returns, and that includes knowledge transfer. That’s really exciting as it offers two-way transference between us and them,” he added.

“With Cameron’s appointment (as foreign secretary), you get undoubted foreign policy expertise, including in the Gulf, which I think will prove a good move and help deepen connections with Saudi Arabia.”

Pushing the idea of London as a “hub of connectivity” appears central in Mainelli’s year-long tenure, which he said he is serving under the theme “Connect to Prosper.”

Asked where the Gulf figures in this, he replied: “The Lord Mayor typically spends 100 days traveling each year. Of this, three weeks will be in North America, three in Asia, after which a smattering of other countries.

“And then, interestingly, the Lord Mayor will typically spend two weeks of travel around the Gulf each year. This shows you just how important it is as a destination, being right up there with Asia and North America.”

COP28 in Dubai has been designed with a strict focus on carbon, which plays into Mainelli’s “personal ambition.”

While he would be “going in with an open mind,” he said he would also use the event to revive interest in the notion of voluntary carbon markets, which first emerged during COP3 in Kyoto in 1997.

“I believe there’s a lot more work to be done when it comes to carbon markets … but we do need to get these to work,” he added.

“The initial idea was to have emission trading permits and businesses paid to remove carbon from the atmosphere — typically this would involve planting trees or seagrass — with the idea being we reduce our environmental impact by taking it out of the atmosphere.

“But it became subject to a lot of issues, ranging from the difficulty of measuring to ensuring the carbon was sequestered properly, and frankly also issues of fraud and corruption.”

Despite the initial difficulties, Mainelli remains convinced that it is a feasible and practical solution to reducing carbon levels in the atmosphere.

“It’s just the market hasn’t been fully formed and the basis upon which prices are set not properly calculated,” he said.

Of particular concern is what he described as the “final bit,” adding: “Let’s say I pay you to for a ton of carbon offset a year over a 25-year period, which you agree to facilitate through the planting of a forest.

“Now let’s say having planted that forest, a hurricane hits and uproots the trees, or there’s an avalanche, perhaps there’s a parasite, and the trees are destroyed, maybe the soil doesn’t allow them to grow, or maybe at the end of the 25 years you simply chop the forest down.

“Were any of these to happen, then nothing really has been achieved. All that has happened is you’ve deferred 25 years of emissions.”

For Mainelli, the solution to the issue and restitution of carbon markets as a tool in the route to net zero resides in the “appropriate use of insurance,” which he said would put a financial impetus behind the idea and “drive clearer, harder standards.”

Of particular pertinence, he noted, would be the fact that insurers would not insure carbon capture sites without having conducted “sufficient due diligence.”

Insurers “would crawl all over whoever was planning to set up one of these carbon capture sites, and they’d want to know what trees were being used, where seeds were sourced,” he said.

“They’d survey the ground, they’d ask why it was located at the base of a mountain. They’d do all this, and not only would they insure the site, they’d be building knowledge.”

This, said Mainelli, would be pivotal as that increased understanding would serve to improve the means and methods of carbon capture deployed in these carbon markets, leading to standardization.

It is “fairly evident” that the Gulf is determined to find workable solutions to address the climate crisis, he added.

“I spent a week earlier this year in Abu Dhabi, and also spent a week last year in Saudi, really trying to understand the situation on the ground there, and I was extremely impressed at the commitment to net zero in both nations and in other areas,” he said.

Pointing to the 25 substantial hydrogen projects in place in the UAE and the 40 Saudi Arabia has in the pipeline, Mainelli said there is an opening for closer ties with the City of London.

While development of hydrogen production would always be of interest, he said there is also reason to considering the creation of a sufficient transport mechanism for getting this hydrogen out into the world. This, he added, offers “great potential for collaboration.”


Japan’s Saudi crude oil imports slightly up for October

Updated 01 December 2023
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Japan’s Saudi crude oil imports slightly up for October

  • The amount was slightly up on September figures of around 29 million barrels
  • Tokyo’s ban on importing oil from Iran and Russia continued in October

TOKYO: Japan’s imports of Saudi crude oil for October reached 30.37 million barrels (42.4 percent of its total), according to Japanese government data.
The amount was slightly up on September figures of around 29 million barrels (37.1 percent).
During October, the Japanese Ministry of Economy, Trade, and Industry’s Agency for Natural Resources and Energy said approximately 92 percent (65.95 million barrels) of the country’s total oil imports came from Saudi Arabia, the UAE, Kuwait, Qatar, and Bahrain.
Tokyo’s ban on importing oil from Iran and Russia continued in October with the remainder of its requirement coming from the US (3.5 percent), Central and South America (2.2 percent), Southeast Asia (1.3 percent), Oceania (1 percent), and Indonesia (0.2 percent).
The figures represent the quantities of oil that arrived at refineries, tanks, and warehouses in Japanese ports during September. Japan uses oil to generate around one-third of its energy needs.


Japan on track to meet emissions targets, Kishida tells COP28

Updated 01 December 2023
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Japan on track to meet emissions targets, Kishida tells COP28

  • But world must do more to achieve climate change goals
  • ‘Each country will aim to achieve net zero according to its circumstances,’ PM says

DUBAI: Japanese Prime Minister Kishida Fumio said more action was needed if the world was to achieve its climate change goal of keeping temperatures within 1.5 degrees Celsius of pre-industrial levels.
Speaking at the COP28 climate summit in the UAE, Kishida said Japan was on track to reach its target of reducing greenhouse gas emissions by 46 percent by 2030, compared with 2013 levels, and would continue to work toward its goal of net zero by 2050.
The country had already reduced its greenhouse gases by about 20 percent, he said.
As confirmed at the G7 Hiroshima Summit for economic growth and energy, and based on the GX (green transformation) Promotion Act, Japan has adopted a growth-oriented carbon policy.
Kishida said that Japan would next year become the first country in the world to adopt internationally certified transition bonds. At the same time, it would accelerate efforts to realize its green transformation and contribute to global decarbonization.
Under the framework of the Asian Zero Emission Community, Japan was committed to making renewable energy its main power source, he said.
Japan is currently the world’s third-largest producer of solar power and continues to diversify its clean energy supply chain.
“Each country will aim to achieve net zero according to its circumstances,” Kishida said.
“Coal-fired power plants that have not taken measures to reduce emissions should be addressed along the way. Japan has developed reduction measures for domestic coal without emission.”
He said Japan would end the construction of thermal power plants and was committed to providing $70 billion of public and private sector funding.
The country would also increase lending to the World Bank and Asian Development Bank to the tune of $9 billion and additional contributions would be made to the African Development Bank, he said.
Separately, Kishida and Israeli President Isaac Herzog took part in a summit on the sidelines of COP28.
Kishida said he welcomed the agreement with Hamas to release hostages and allow more humanitarian aid into the Gaza Strip, and asked for Israel’s cooperation to help make that happen.
He also stressed the importance of acting in accordance with international law and UN Security Council resolutions, and said Japan supported the two-state solution to allow Israel and Palestine to peacefully coexist.
Hertzog expressed his appreciation for Japan’s condemnation of terrorism and explained Israel’s position regarding the Gaza Strip, including its military actions there.