With the global energy crisis unfolding and energy prices soaring, governments and companies are ramping up investments in renewables, energy efficiency and clean technologies.
The need for renewables seems to be greater amid the prolonged reduction in Russian energy supplies, caused by the war in Ukraine.
This week, Russian gas company Gazprom again shut off entirely the Nord Stream 1 pipeline that supplies gas to Europe, citing maintenance issues. Nord Stream 1 had been running at reduced capacity following a ten-day shutdown in July and in the past month, the flow was at approximately 20% of normal capacity.
Russia’s Nord Stream 1 shutdown coincided with the signing of the so-called Marienborg Declarations in which eight Baltic Sea countries committed to a combined ambition for offshore wind in the Baltic Sea region of at least 19.6 GW by 2030 – a sevenfold increase compared to the current 2.8 GW. Together, Denmark, Sweden, Finland, Germany, Poland, Latvia, Lithuania and Estonia outlined their joint path to minimising the reliance on Russian fossil fuels.
It is clear that the latest events, coupled with ongoing disruptions in supply and demand patterns, are prompting governments and investors to opt for supply diversification in the future, finding other energy sources and focusing more on renewables.
In light of this, Canadian oil and gas producer Vermilion Energy and Irish Nephin Energy are looking into the feasibility of a renewable energy hub at the existing Corrib gas field located offshore Ireland. The natural gas field and associated infrastructure are critical to Ireland’s energy security, currently providing c. 30 per cent of Ireland’s annual natural gas requirement .
Developed at a cost of €3.6 billion, the facility is uniquely positioned to support the development of renewable energy generation in the West Atlantic region.
Collaboration across oil and gas and renewables sectors is also highlighted in a recent study undertaken by the Net Zero Technology Centre, the Cygnus JV and Sealand Projects Ltd . The study has assessed potential routes for electrification of oil and gas platforms and found four options to make this happen. However, challenges such as the commercial viability of electrification will need to be addressed in order to maximise the opportunity for the electrification of oil and gas assets.
In Chile, Ocean Renewable Power Company (ORPC) has partnered up with local communities and businesses to accelerate the country’s transition from diesel to renewable energy with its marine energy technology . Through its wholly-owned subsidiary, ORPC Chile, the company has launched the ‘Decarbonization from Patagonia to Cape Horn’ initiative, with the support of the US Embassy in Chile, Chilean mayors from nearby municipalities, regional government leaders and other officials.
Going to California, wave energy company CalWave Power Technologies has concluded its open-ocean wave energy pilot after 10 months of continuous operation off the coast of San Diego.
The project, which saw the deployment of x1 pilot wave energy device in September 2021 , was supported by the US Department of Energy (DOE) with the goal of demonstrating CalWave’s scalable and patented wave energy technology as a cost-effective, sustainable solution for energy generation. As explained, not only does the demonstration represent California’s first at-sea, long-duration wave energy project , but it also serves as a critical step toward proving wave power as a commercially viable renewable resource .
On the offshore wind front, the Italy-based developer revealed plans to build a 1.2 GW floating wind farm whose electricity would be used for hydrogen production on land. Hope Group (Gruppo Hope) is requesting a 30-year concession for an area located in the Southern Adriatic Sea, off the coast of the Municipality of Vieste and with connection works located in the sea and on land in the territory of the Municipality of Bari.
What is more, two political agreements have been signed allowing Denmark to increase the planned offshore wind capacity at the Bornholm Energy Island from 2 GW to 3 GW and enable the transfer of electricity to the German grid.
In addition, India’s government has launched tenders for the supply and installation of floating LiDARs at three offshore sites, and for environmental impact assessment studies at a site proposed to house a 20 MW offshore wind demonstration project.
In the clean fuels sector, two major projects, set to accelerate the green energy transition, have been announced this week.
On 31 August, Qatar unveiled plans to build “the world’s largest blue ammonia plant”. Planned to be operational in the first quarter of 2026, the Ammonia-7 Project will produce 1.2 million tonnes per year of blue ammonia.
Moreover, Singapore’s first hydrogen-ready power plant is one step closer to realisation after Keppel awarded an engineering, procurement and construction (EPC) contract to Mitsubishi Power Asia Pacific and Jurong Engineering.
Running initially on natural gas as primary fuel and subsequently entirely on hydrogen, the Keppel Sakra Cogen Plant will be the most energy-efficient power plant in Singapore once it becomes operational in the first half of 2026.
Speaking of green hydrogen, the UK could also get its first large-scale green hydrogen facility . Namely, port owner and operator Associated British Ports (ABP) and industrial gases company Air Products have joined forces to bring the large-scale green hydrogen facility to the Port of Immingham in Humber, UK.
The facility would import green ammonia from production locations operated by Air Products and its partners around the world. This would be used to produce green hydrogen, aiming to decarbonise hard-to-abate sectors such as transport and industry.