-- The UK government has allocated £31.6 million ($42.57 million) to 11 floating offshore wind projects Updated 14 sec ago
January 26, 2022 12:12
RIYADH: While resistance and instability in the energy sector such as those in Europe persist on a macro level, investments and expansions like those in the UK, Tanzania, and Italy dominate the sector on a micro level.
Looking at the bigger picture:
Qatar will not be able to provide Europe with natural gas supplies if Russian flows come to a halt, Bloomberg reported.
This comes as the Middle Eastern country remains committed to long term contracts with neighboring Asian countries that it is not willing to jeopardize in return for political rewards from Europe and the US.
The UK government sets power capacity auction targets for 2022 and 2023 at 14 percent above the national grid’s recommendation, Bloomberg reported.
This comes as the country wants to secure enough power to meet future winter demand and curb potential blackouts in the case that unprecedented events in the sector take place.
Through a micro lens:
The UK government has allocated £31.6 million ($42.57 million) to 11 floating offshore wind projects that aim to make use of the country’s windy coastline, CNBC reported.
An additional £30 million will flow in from the private industry as well.
The investment boost will be utilized in the development of new up to date technologies that will allow the turbines to reside in the windiest parts around Britain’s coastline.
Tanzania chooses US multinational law firm, Baker Botts LLP as a consultant to help advance a $30 billion worth liquified natural gas, or LNG, plan, Bloomberg reported.
The plan entails the construction of an onshore LNG facility to help unveil natural gas findings in the southern part of the African country.
Italian multinational manufacturer and distributor of electricity and gas, Enel intends to duplicate its local solar panel plant in the US, Reuters reported.
This follows an announcement that the firm plans to boost capacity in its domestic factory to reach 3 gigawatts.