Category: Highlights

Global energy investment is on the rise and expected to grow by 8 percent annually this year, pushed up by record spending on clean energy, the International Energy Agency (IEA) said in its new report World Energy Investment 2022. On the face of it, that’s great news for global energy supply and climate goals. But in reality, the rising trend is a function of galloping inflation, a deepening divide between developed and emerging economies’ investment trends, and an increase in coal investments as the biggest economies in Asia prioritize energy…

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Paris, (APP – UrduPoint / Pakistan Point News – 23rd Jun, 2022 ) :Natural gas has emerged as a weapon of war between Russia and Europe since Moscow and Ukraine stand-off. Here is how the standoff developed: – Nord Stream 2 halted – On February 22, 2022, German Chancellor Olaf Scholz says he is suspending the Nord Stream 2 pipeline project with Russia in response to Moscow’s recognition of two breakaway regions in Ukraine. The project has long been a source of tension with Berlin’s allies in the United States…

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Speakers at a seminar on Wednesday criticised the World Bank for messing up Pakistan’s energy sector by supporting fossil gas and financing LNG infrastructure in recent years. Organised by the Alliance for Climate Justice and Clean Energy, the seminar participants unanimously called the country’s shift to fossil gas a costly mistake that has contributed to disproportionately high reliance on imported LNG obtained at exorbitant spot prices. There’s sufficient scientific evidence which confirms this gas isn’t a “transition” fuel to cleaner energy systems, said Fran Witt, senior adviser at advocacy group…

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Speakers at a seminar on Wednesday criticised the World Bank for messing up Pakistan’s energy sector by supporting fossil gas and financing LNG infrastructure in recent years. Organised by the Alliance for Climate Justice and Clean Energy, the seminar participants unanimously called the country’s shift to fossil gas a costly mistake that has contributed to disproportionately high reliance on imported LNG obtained at exorbitant spot prices. There’s sufficient scientific evidence which confirms this gas isn’t a “transition” fuel to cleaner energy systems, said Fran Witt, senior adviser at advocacy group…

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International and local experts raised alarm on expansion of gas and LNG infrastructure in Pakistan in a webinar on Wednesday, saying it would pose threat to Paris Agreement goals and lead to a climate change crisis in the country. Discussing findings of a research study by Recourse, a Netherlands-based non-profit organisation, experts urged the World Bank and International Finance Corporation (IFC) to stop investing in costly LNG imports and gas expansion and support Pakistani government to use its own indigenous, sustainable, and renewable sources of energy such as wind and…

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