Day: July 12, 2022

Green ammonia is a little-known contender to become a major renewable fuel over the coming decades. It has around nine times the energy of lithium-ion batteries and its denser nature makes it easier to transport than liquid hydrogen. As oil majors race to find innovative renewable energy alternatives, green ammonia is gaining more international attention for its potential as an emissions-free fuel. Despite being little-talked-about compared to hydrogen, ammonia is catching the eyes of energy firms worldwide for its potential as a clean fuel. Ammonia is a compound of hydrogen…

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Natural gas will play an important role in Australia’s accelerated energy transition as the country looks to boost renewable energy sources and phase down coal, according to Alan Finkel, Special Adviser to the Australian government on Low Emissions Technology. Australia currently relies on a lot of conventional energy sources. Coal and natural gas account for around 79 percent of the country’s electricity generation, data from the government shows. Renewable energy from wind, solar, and hydropower provide the remaining 21 percent of Australia’s electricity supply. This includes both large generators and…

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Embattled German gas giant Uniper on Friday submitted a bailout application for government support after running into extreme financial distress, Finnish majority owner Fortum said in a statement. Uniper was the first German energy company to sound the alarm over soaring energy bills due to reduced supplies of Russian gas. It has been in talks with the German government over a possible bailout in recent weeks. “We welcome that the German Parliament has now approved a ‘toolbox’ which will allow immediate relief to the effects of the gas supply crisis,”…

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The euro zone economy is expected to face higher inflation both this year and in 2023, officials told CNBC on Monday, while plans are being stepped up for the prospect of a permanent cut to Russian gas supplies. Europe has been under intense pressure in the wake of Russia’s invasion of Ukraine, with higher energy costs pushing up inflation across the region. This economic reality is unlikely to change anytime soon, with new forecasts pointing to an upward revision in consumer prices across the bloc. “What we see [is that]…

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