The country is set to have 118 new projects start, with the largest costing $1.4bn and spanning more than 2,700km in length
2021 has bought extreme price movements across commodity markets, with current power market volatility at the highest for at least 13 years. The winter 2021 power price reached down to £42/MWh in March 2020, however recently touched a high of £118/MWh.
The fuel will be sourced from the Bontang liquefaction terminal in Indonesia, with Eni claiming the emissions produced by the entire value chain of the LNG cargo will be offset
The Greek authorities confirmed the LNG terminal would be apt to use for hydrogen and believe the project would contribute to a cleaner mix through increased use of gas instead of coal
The country has already banned the use of fracking for the extraction of natural gas onshore and ended the issuing of new exploration licences for oil or natural gas offshore
The companies have stated that this joint venture would make their operations in Angola more efficient, increase investment and its overall development
The energy major said it reached the decision considering the security situation in the north of the Cabo Delgado province in Mozambique
The wholesale energy complex is ever-evolving, and fundamentals have changed drastically over the past year with weather, LNG supply, Brexit and COVID-19 at the forefront of the market. The winter 2021 power price reached down to £42/MWh in March 2020, however recently broke a new high of over £70/MWh.
Our latest European Market podcast on electricity and gas commodity prices sees gas demand and supply major in that commodity and carbon remains an issue for power.
LNG becomes the cornerstone of UK and European gas prices, while liquidity in GB power seems abandoned by the regulator.