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European seaborne thermal coal demand is projected to increase 14% or 12 million metric tonnes (Mt) this year to 98 Mt as it grapples with the current energy crisis.
Decarbonising the steel and iron ore industry by 2050, in line with the Paris Climate Agreement, will require US$1.4 trillion of investment and revolution across every stage of the value chain. This presents an urgent challenge and enormous opportunity according to Wood Mackenzie’s latest Horizons research report, Pedal to the metal: Iron and steel’s $1.4 trillion shot at decarbonisation.
Strong activity in China pushed global wind turbine order intake to 43 gigawatts (GW) in quarter two of 2022, a new record, and up 36% from year-ago levels. This equates to an estimated $18.1 billion, according to new analysis from Wood Mackenzie.
High natural gas prices will continue to drive down European demand to seven percent below the five-year average through March, leaving a best-case scenario of storage levels at 31% at winter’s end, in line with the five-year average, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK).
With prices soaring 400%, government is challenged to find the delicate balance of energy security and net zero goals
US Inflation Reduction Act bill set to boost CCUS uptake but more is needed to meet net zero goals by 2050
Waste-based biofuels could be a key driver of the energy transition transforming today’s limited supply of low carbon transportation fuels and creating a local, circular economy, according to a new report by Wood Mackenzie, a Verisk business (Nasdaq:VRSK).
Energy super basins of the future must fulfill three key criteria - abundant resources, access to low-cost renewables and hub-scale carbon capture and storage (CCS) opportunities, according to a new report by Wood Mackenzie.
China’s LNG imports are set to fall over 14% year-on-year to 69 million tonnes (Mt) in 2022, the largest decline since it began LNG imports, says Wood Mackenzie.
Wood Mackenzie, Inc. a Verisk business (NASDAQ:VRSK), and Ball Corporation (NYSE: BALL) today announced the launch of Global LNG Liquefaction Monitoring – the first product arising from their strategic agreement to accelerate the development of advanced analytics for energy markets.
Global top 10 solar photovoltaic (PV) inverter vendors shored up 82% of market share in 2021, increasing by 2 percentage points compared to 2020, says Wood Mackenzie.
Russia reducing flows via Nord Stream, outages at Freeport and French nuclear downgrades have sent the European natural gas market into an upward spiral with more volatility still to come. And while summer consumption will be covered, analysts at Wood Mackenzie, a Verisk business (Nasdaq: VRSK) say storage refill is at risk unless additional demand and supply measures are taken.
Italian major Eni has, for the fourth time in seven years, been named the upstream industry’s most-admired explorer, an accolade awarded as part of Wood Mackenzie’s industry-leading annual Exploration Survey.
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.
BP confirmed today that it picked up over 40% stake in the Asian Renewable Energy Hub project to produce and export green hydrogen in Australia.
While recycling can relieve some pressure from the supply deficit of battery raw materials, it will not be able to meet demand, says Wood Mackenzie.
Potential low-carbon (green or blue) hydrogen demand from the global refining sector could reach 50 million tonnes per annum (Mtpa) by 2050, says Wood Mackenzie.
The REPowerEU initiative has the potential to add at least 420 gigawatts (GW) of solar installations by 2030; however, rising solar raw material costs could become the stumbling block to achieving this goal, says Wood Mackenzie.
Shell has sanctioned the development of the Crux gas field in Australia’s Bonaparte Basin.
Cumulative global capex spend in the offshore wind sector is expected to hit US$1 trillion by 2031, according to a new report by Wood Mackenzie. However, investors will no longer only be competing on price alone.
While hydrogen can be used in many sectors, its derivative, ammonia, has emerged as a key tool to provide flexible power generation and integrate variable renewables. Analysis by Wood Mackenzie shows that a 10% ammonia co-firing in global coal plants would translate to 200 million tonnes (Mt) of ammonia demand, a potential market of US$100 billion by 2050.
Steel industry’s carbon emissions is expected to fall 30% by 2050 compared to 2021 levels, according to a new report by Wood Mackenzie.
Demand for long-term LNG contracts continues to gain momentum this year as large volumes have been signed and prices for oil-linked deals under negotiation are rising, according to a recently published LNG contract trends report by Wood Mackenzie.
Wood Mackenzie welcomes Canadian Solar as a development partner for its industry-leading Lens® decision intelligence platform, which delivers live data across the industrial landscapes of every global economy.
The recent run up in natural gas prices - hitting its highest at Henry Hub since 2008 - is a result of more muted market balancing mechanisms than in the past, say analysts from Wood Mackenzie, a Verisk business (Nasdaq: VRSK).
Five key lessons from today's energy crisis on how to manage the shift to lower-carbon sources while strengthening energy security
The race is on in the exploration and development of transition resources required for global decarbonisation. However, the investment environment needs to be more conducive, and the establishment of fair and transparent fiscal policies could be the key, says Wood Mackenzie.
Global economic growth could slow to 2.5% year-on-year in 2022 and 0.7% in 2023 due to the Russia-Ukraine war, says Wood Mackenzie.
About 650,000 barrels per day (b/d) of Russian crude oil are to be relocated from advanced economies, and the solution could be ‘crude swapping’, says Wood Mackenzie.
The combination of factors including the Russia-Ukraine conflict, stimulated economies, thriving post-pandemic demand, and ongoing Covid constraints on logistics have put supply chains under immense stress, triggering multiple price records for metals and mined commodities.
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