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If high interest rates persist, transitioning to a net zero global economy will be even harder and more costly. The higher cost of borrowing negatively affects renewables and nascent technologies, compared to more established oil and gas, and metals and mining sectors, which remain somewhat insulated.
Home to half of the world’s population and contributing a third to the global GDP, the Asia Pacific region is expected to maintain a 50% share of global primary energy demand and a 60% share of global carbon emissions until 2050. This trend is unlikely to change without strong policy action and investment. However, the region still has the potential to turn these challenges into opportunities and become a global leader in the energy transition.
Large oil and gas reserves in the Middle East have resulted in especially low domestic energy prices and provide little incentive to transition to low carbon alternatives, according to Wood Mackenzie’s Middle East Energy Transition Outlook report.
The acceleration of the energy transition means gas resource holders increasingly face a choice: follow the established pathway and develop new LNG export facilities or pivot into developing blue ammonia.
Wood Mackenzie, a portfolio company of Veritas Capital, has appointed Simon Crowe to its global executive leadership team as Chief Financial Officer (CFO), effective 27th March.
Veritas Capital (“Veritas”), a leading investor at the intersection of technology and government, today announced that an affiliate of Veritas has completed the purchase of Wood Mackenzie from Verisk (Nasdaq: VRSK).
War in Ukraine is transforming the outlook for the supply, demand and price of hydrocarbons and the pace and cost of the energy transition. While the precise timing and implementation of future bans on Russian commodity imports are difficult to predict, a rewriting of energy trade flows is now underway.
Five key lessons from today's energy crisis on how to manage the shift to lower-carbon sources while strengthening energy security
China’s renewables manufacturing has emerged from 2021 bigger and more competitive than ever before. Western markets are benefitting from trading with the IKEA of the energy transition, but balancing reliance on China’s technology providers with local interests is now a key political as well as environmental challenge, says Wood Mackenzie.
Economic growth, stability in energy prices, energy transition, dual-control targets and relations with the US, are the top five themes to watch out for in China’s energy outlook this year, says Wood Mackenzie.
UK gas production is down 28% year-to-date, helping fuel the current European gas price rally, global natural resources consultancy Wood Mackenzie, a Verisk business (Nasdaq: VRSK) said.
Demand across most commodities in China is expected to slow down in the second half of 2021, according to Wood Mackenzie’s new monthly China Economic Focus report.
Last week, Japan’s Ministry of Economy, Trade and Industry (METI) released a draft of its upcoming 6th Strategic Energy Plan which included major changes to the FY2030 power generation mix targets.
The EU Commission proposed a carbon border adjustment mechanism (CBAM) as part of today’s “Fit for 55” package. James Whiteside, global head of multi-commodity research at Wood Mackenzie, said: “As the first mechanism of its kind, the CBAM is being designed in consultation with industry to avoid unintended consequences. “A CBAM that does not cover a substantial portion of the production chain will encourage carbon leakage - pushing emissions beyond the borders of the EU or shifting competition between EU and non-EU producers to the next stage of the value chain.”
Europe’s new 2030 emissions target of a 55% reduction over 1990 levels has made it the undisputed global leader in climate ambition. However, with the region still a long way from achieving this rapidly approaching goal, dramatic changes are needed.
Following the military coup in Myanmar on Monday, February 1st, Wood Mackenzie and Verisk Maplecroft experts weigh in on what this means for the oil and gas industry.
Australia needs an ambitious long-term Renewable Energy Target (RET) policy to unlock future investments, says Wood Mackenzie.
As Biden’s inauguration approaches, Wood Mackenzie experts share how his administration could impact trade, climate change goals, and changes to the energy sector in Asia Pacific.
China’s gas power plants are struggling to stay afloat as they face mounting pressure from lower tariffs and the ongoing trade war, says Wood Mackenzie.
Using renewable energy to power liquefied natural gas (LNG) plants in Asia Pacific could reduce emissions by about 8%, says Wood Mackenzie.
Bangladesh is expected to double its fossil fuel imports to 32 million tonnes of oil equivalent (Mtoe) between 2020 and 2030, says Wood Mackenzie.
India's 2020 energy outlook
The EIB's new financing criteria will make lending to gas projects very difficult. It highlights that gas is also increasingly in the spotlight of the climate debate.
Total announced today its partnership with Adani Group which includes two LNG terminals, Dhamra in East India and potentially Mundra in the West, as well as Adani Gas Limited, one of the 4 main distributors of city gas in India of which Adani holds 74.8% and of which Total will acquire 37.4%.
According to a new report by Wood Mackenzie, coal will continue to be the dominant fuel source in power generation, peaking at 2027 before slowing down and accounting for 36% of the region’s generation mix in 2040.
According to a new report by Wood Mackenzie, Japan could lose its pole position as the world’s top LNG importer to China as early as 2022.
According to research by natural resources consultancy Wood Mackenzie, Malaysia offers some of the most material and attractive upstream investment opportunities in Southeast Asia, primarily due to the need for additional gas supply.
Following PM Scott Morrison's win in the recent 2019 Australia election, Wood Mackenzie and Verisk Maplecroft analysts share their thoughts.
Australia's general election is around the corner and Labor looks set for victory. Labor has announced its commitment to reduce Australia’s carbon emissions by 45% between 2005 and 2030, and to reach net-zero pollution by 2050. It has also proposed changes to existing mechanisms to lower energy and gas prices.
India's first east coast regas project, Ennore LNG terminal, was commissioned yesterday by Indian Oil Corporation (IOCL). Wood Mackenzie's senior analyst Kaushik Chatterjee shares the significance of this project and how this marks the beginning of India doubling its regas capacity to 56.5 million metric tonnes per annum (mmtpa) by 2025.
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