Asia Pacific
The stalemate in the Strait of Hormuz is forcing a re-think of LNG-to-power projects in Southeast Asia, particularly in Vietnam and the Philippines, threatening to break the “gas bridge” narrative.
Bangladesh has planned for more LNG import infrastructure despite its growing price volatility in international markets amid persistent Middle East tensions.
While the climate impacts of increased LNG fleet usage are a major issue, there are other concerns too, including methane slip from engines, warned experts.
Havoc in oil and gas markets caused by the Iran war has importing nations scrambling to cut demand and racing to accelerate their energy transitions. The reputation of gas and LNG is now badly tarnished.
Analysis
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Renewable energy — and especially solar power — captured all demand growth last year and even forced fossil fuels into a slight contraction. And that was before the war in Iran.
China remains tied to global fuel markets despite its diversification into renewable energy, which poses a significant risk in the context of continuing Hormuz disruption.
Hormuz disruption is driving up freight costs, insurance premiums and spot LNG prices, building pressure on import-dependent power systems in South Asia.
New research finds that pro-LNG actors in Japan and Australia are using complementary narratives to build support for fossil gas expansion.
As the Iran conflict entered its third week and the Strait of Hormuz remained at least partially closed, the toll on LNG markets intensified.
The importance of renewables not only for climate but also for economic security needs to be better understood, especially now with the Iran war escalating, analysts said.
News
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As the Asian Development Bank’s annual meeting unfolds this week in Milan, there are calls for the bank to stop financing fossil fuels in Bangladesh.
As COP29 nears its close in Baku, UN Chief António Guterres called for a decisive, ambitious climate finance deal for developing nations.
Renewables are surging globally, yet fossil fuel phase-out has stalled, says a new report by Climate Change Performance Index (CCPI) released during COP29 in Baku.
Opinion
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New research says that the health risk to mothers and newborns posed by global warming is a “blindspot” in the majority of national climate plans. It must not be sidelined by COP29 negotiators.
Japan is considering its nuclear future to help reach its 2050 net zero goals, but opponents still point to safety concerns. Renewable projects, despite a lack of available land mass, remain a viable long-term alternative.