May 28 – In an important moment for India-Pakistan relations, both nations have signed a commercial agreement to buy natural gas from Turkmenistan, which will be shipped from a pipeline that travels through Afghanistan, Pakistan and into India. This long-delayed project, commonly referred to as the TAPI Pipeline, is worth over US$7.6 billion. When completed, the pipeline will run 1,680 kilometers and will have the capacity to carry 90 million cubic meters of gas a day. It is slated to become operational in 2018.
The United States has played a central role in establishing this agreement, supporting the project for over 20 years. The project has previously been delayed due to due to political and military turmoil in Afghanistan and disagreements between the partners – especially India and Pakistan. The United States hopes that this pipeline will further isolate Iran, who is currently trying to construct a pipeline to Pakistan. Security concerns in the area still exist, due to the Taliban’s control of large areas in southern Afghanistan, and a separatist rebellion that is currently occurring in Pakistan. Nonetheless, the countries involved are determined to follow through with the project. Continue reading
Feb. 9 – China dramatically increased its renewable energy production capacity in 2011, tripling output in solar power alone, but environmentalists warn an unwavering reliance on coal to fulfill 70 percent of its energy needs is offsetting the benefits of this new clean development, according to The Guardian.
Last year, China overtook Japan for the first time to become the world’s top importer of coal and, after increasing overall consumption of the resource by 95 million tons over the same time, China is on pace to soon be burning half of the world’s coal. As coal is considered the most damaging source of carbon dioxide emissions, these new statistics have alarmed both environmentalists as well as Chinese government officials, who are already under pressure to curb pollution and environmental degradation. Continue reading
Posted in Business, Energy, Featured, Mining
Tagged Carbon Dioxide, China Coal, China Energy, China Policy, China Renewable Energy, Emissions, Environment, Fossil Fuels
Jan. 18 – U.S. Treasury Secretary Timothy F. Geithner visited major Asian oil importers China and Japan last week, attempting to gain support for U.S. sanctions on Iran in response to its suspected nuclear weapons program.
On his two-day trip in Beijing, Geithner urged top Chinese authorities to sharply reduce imports of Iranian crude oil, and he informed China of a new U.S. sanction policy that would be imposed on countries which refuse to join U.S. efforts to curb Iran’s oil revenues. Continue reading
Dec. 20 – India’s Ministry of Commerce and Industry has accepted a petition to conduct an anti-dumping probe into Chinese-imported solar panels. The investigation is expected to be initiated within a month, China’s Ministry of Commerce stated yesterday on its web site.
The announcement said that solar equipment manufacturers in India have lobbied the government to help protect the immature domestic solar energy industry against stronger international rivals, including First Solar, the largest maker of thin-film panels, based in the U.S. state of Arizona, and Suntech Power Holdings Co., the world’s largest producer of solar panels based in Jiangsu Province, China. Continue reading
Posted in Energy, Featured, Foreign Trade, Markets
Tagged India China Trade Disputes, India Renewable Energy, India Solar Industry, India Solar Panels, India US Trade Disputes, Solar Panel Subsidies, US China Solar Trade Dispute, US Solar Trade Finance
Dec. 13 – After two weeks of intensive talks, plus extending the meeting for another 36 hours, the 194 nations attending the United Nations climate summit in Durban finally approved a package of agreements to combat global climate change.
“We came here with plan A, and we have concluded this meeting with plan A to save one planet for the future of our children and our grandchildren to come,” said Maite Nkoana-Mashabane, the president of the Conference. “We have made history.” Continue reading
Posted in Business, Energy, Featured, Science & Technology, Technology
Tagged Climate Change, Copenhagen Accord, Durban Climate Summit, Durban Platfrom, Global Warming, Green Climate Fund, Kyoto Protocol, United Nations
Nov. 11 – China’s state-owned oil giant Sinopec Group announced Friday that it will buy a 30 percent stake in the Brazilian unit of Portuguese oil company Galp Energia for US$3.54 billion in China’s biggest push into the overseas energy market in 2011. Last year, Sinopec paid US$7.1 billion to Spanish oil giant Repsol for a 40 percent stake in its Brazil assets.
Galp Energia, which was established in 1999 and headquartered in Lisbon, Portugal, is an integrated oil and gas company. According to Sinopec’s statement, the company owns four deep-water offshore blocks around Brazil’s Santos Basin, namely BM-S-11, BM-S-24, BM-S-8 and BM-S-21. Continue reading
Posted in Business, Energy, Featured, Foreign Trade
Tagged Addax Petroleum Corporation, Brazil, China Energy, Galp Energia, Repsol, Sinochem, Sinopec, Statoil
Nov. 10 – China’s State Council on Wednesday passed a proposal aimed at controlling greenhouse gas emissions – one of the important aspects of China’s 12th Five Year Plan – Xinhua news agency reported.
The approved plan aims to realize a 17 percent decrease in the nation’s per unit CO2 emissions by 2015. The State Council pointed out that China needs to improve its industrial structure, develop low-carbon energy sources, as well as increase forest carbon sequestration. In addition, the State Council urged the establishment of a calculation system for CO2 emissions and the promoting of a low-carbon life style across the country. According to officials with knowledge of the matter, the plan explicitly lists exact targets for CO2 emissions per unit of GDP. Continue reading