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Philippines and UAE sign MoU for energy transition cooperation

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The Governments of the Philippines and the United Arab Emirates (UAE) have signed a memorandum of understanding (MoU) to strengthen cooperation in energy transition.  The agreement focuses on key areas such as renewable energy, liquefied natural gas, nuclear energy, power infrastructure, and emerging technologies. An implementation agreement with a UAE state-owned firm is expected in January 2025, advancing renewable and alternative energy projects.  This MoU follows a similar agreement signed in October 2024 with Saudi…

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Tongyeong Eco Power’s 1GW LNG Plant begins operations in South Korea

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Tongyeong Eco Power’s combined-cycle power plant has commenced commercial operations in Gyeongsangnam-do, South Korea, with a capacity exceeding 1GW, supplying electricity to nearly one million households. The liquefied natural gas (LNG)-fueled plant aligns with South Korea’s strategy to transition from coal to LNG and includes a 200,000 cubic meter LNG storage tank. GE Vernova has provided critical components for the plant, including two 7HA.02 gas turbines, one STF-D600 steam turbine, two heat recovery steam generators…

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Global energy system faces rising risks amid geopolitical strains: IEA

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The International Energy Agency (IEA) highlighted the vulnerabilities in the global energy system, exacerbated by regional conflicts and geopolitical tensions, in its World Energy Outlook 2024. The IEA underscored the need for stronger policies and investments to hasten the energy transition. Despite these challenges, the agency expects a relatively abundant supply of various fuels and technologies in the coming years, including oil, LNG, solar PV, and batteries. IEA Executive Director Fatih Birol noted that an…