<rss xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:media="http://search.yahoo.com/mrss/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:base="https://globalsouthworld.com/rss/tag/Energy%20Markets" version="2.0">
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    <title>Global South World - Energy Markets</title>
    <link>https://www.globalsouthworld.com/rss/tag/Energy%20Markets</link>
    <language>en-US</language>
    <description><![CDATA[News, opinion and analysis focused on the Global South and rising nations across the world. Delivered by journalists on the ground in Africa, Asia, Europe and the Americas. From politics and business to technology, science and social issues, Global South World is the first place to come for accurate and trusted information.]]></description>
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      <title>Asia turns to unconventional fixes as Iran war strains energy supplies</title>
      <link>https://www.globalsouthworld.com/article/asia-turns-to-unconventional-fixes-as-iran-war-strains-energy-supplies</link>
      <guid isPermaLink="true">https://www.globalsouthworld.com/article/asia-turns-to-unconventional-fixes-as-iran-war-strains-energy-supplies</guid>
      <pubDate>Mon, 30 Mar 2026 14:03:41 Z</pubDate>
      <description><![CDATA[<p>With the US–Israel war on Iran choking traffic through the Strait of Hormuz — a vital artery for oil bound for Asia — countries across the region are rolling out conservation drives that reach into households, offices and even weekly routines. From shorter showers to midweek shutdowns, the response reflects both the region’s heavy dependence on imported energy and the urgency of the supply crunch.</p>
<h2>South Korea: Shorter showers, fewer car trips</h2>
<p>South Korea has launched a nationwide energy-saving campaign urging citizens to cut back on everyday consumption — including taking  shorter showers , cycling short distances and avoiding charging phones or electric vehicles at night.</p>
<p>President Lee Jae Myung framed the effort as a collective national test, invoking past crises when citizens rallied to support the economy. “We desperately need the cooperation from the people,” he said, calling on households to adopt a 12-step conservation plan.</p>
<p>Public agencies are also now required to limit official vehicle use to four days a week, with number plate-based restrictions determining which cars stay off the road. Officials have warned that similar curbs on private vehicles could follow if the crisis worsens.</p>
<h2>Sri Lanka: Holidays on Wednesdays </h2>
<p>Sri Lanka has taken a more drastic step,  declaring Wednesdays a holiday  for public institutions to conserve fuel.</p>
<p>President Anura Kumara Dissanayake said the country must “prepare for the worst” as it braces for possible shortages. The measure effectively cuts commuting and government operations by one day each week.</p>
<h2>Philippines: Air-conditioning limit to 24°C</h2>
<p>In the Philippines, the government is targeting cooling — one of the largest sources of electricity demand in a tropical climate.</p>
<p>Public offices have been ordered to set air-conditioning units  no lower than 24°C  under a broader directive to cut energy use by at least 10%. Agencies are also being encouraged to adopt renewable energy where possible.</p>
<p>The measures are part of a wider effort to ensure stable electricity supply as global energy markets remain volatile.</p>
<h2>Thailand: Take the stairs</h2>
<p>Thailand’s approach combines austerity with behavioural nudges. Government workers have been told to work from home,  avoid lifts and take the stairs , while air-conditioning is capped at 26–27°C.</p>
<p>Other steps include suspending overseas trips, reducing photocopier use and shifting meetings online. </p>
<p>Across Asia, such measures underscore a common reality: the region’s economies remain tightly tied to distant energy routes. As supplies tighten, governments are not only adjusting policy — they are asking citizens to change how they live, one habit at a time.</p>
]]></description>
      <source url="https://www.globalsouthworld.com">Global South World</source>
      <media:content url="https://gsw.codexcdn.net/assets/asCNJ7HQrWNrZmv6D.jpg?width=1280&amp;height=720&amp;quality=75&amp;r=fill&amp;g=no" medium="image" type="image/jpeg">
        <media:credit role="photographer">MONICAH MWANGI</media:credit>
        <media:credit role="provider">X03917</media:credit>
        <media:title>A technician works on the cables of a collapsed high voltage electricity transmission pylon from the Kiambere hydroelectric dam in Embakasi district of Nairobi</media:title>
      </media:content>
      <dc:creator><![CDATA[Logan Zapanta]]></dc:creator>
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      <title>Amid China’s silence, Japan steps up role in Middle East crisis</title>
      <link>https://www.globalsouthworld.com/article/amid-chinas-silence-japan-steps-up-role-in-middle-east-crisis</link>
      <guid isPermaLink="true">https://www.globalsouthworld.com/article/amid-chinas-silence-japan-steps-up-role-in-middle-east-crisis</guid>
      <pubDate>Thu, 12 Mar 2026 12:50:38 Z</pubDate>
      <description><![CDATA[<p>In recent weeks, Tokyo has stepped up diplomatic outreach, energy coordination and economic contingency planning, positioning itself as a stabilising actor as the conflict threatens oil flows through the Strait of Hormuz — a critical artery for  Asian  economies.</p>
<p>Prime Minister Sanae Takaichi has also taken a clearer public stance than Chinese President Xi Jinping, condemning the war and particularly Iran’s attacks on civilian facilities.</p>
<p>Additionally,  Japanese Foreign Minister Toshimitsu Motegi  on Monday urged Iran to exercise restraint during a phone call with Iranian Foreign Minister Abbas Araghchi, calling for an early de-escalation as attacks between the warring sides intensify.</p>
<p>“The continued exchange of attacks has worsened the regional situation, and I called for an early de-escalation,” Motegi told reporters.</p>
<p>He also pressed Iran to stop attacks on civilian facilities in Gulf states and end threats to shipping in the Strait of Hormuz, a route through which much of Japan’s energy imports pass. Motegi additionally sought the release of two Japanese nationals detained in Iran.</p>
<h2>Oil release pledge</h2>
<p>The diplomatic engagement comes as Tokyo moves aggressively to cushion the economic fallout from the conflict.</p>
<p>Japan has pledged to  release 80 million barrels of oil  as part of an unprecedented 400-million-barrel coordinated intervention by 32 members of the International Energy Agency, aimed at calming markets shaken by the prospect of supply disruptions.</p>
<p>Takaichi said the government would begin releasing oil reserves as early as Monday as tankers struggle to pass through the Strait of Hormuz.</p>
<p>“As oil tankers continue to be virtually unable to pass through the Strait of Hormuz, oil imports into our country are expected to decrease significantly from later this month,” Takaichi said.</p>
<p>Japan plans to release 15 days’ worth of private reserves and one month of state reserves, marking the first time the country has independently tapped its stockpiles to stabilise markets.</p>
<h2>Preparations at home</h2>
<p>But back home, the crisis is also reshaping Japan’s domestic energy debate. </p>
<p>Opposition  leader Yuichiro Tamaki of the Democratic Party for the People has called for the country to restart all available nuclear reactors to reduce dependence on Middle Eastern fuel.</p>
<p>“Unless we make full use of nuclear power… electricity bills will inevitably rise,” Tamaki said.</p>
<p>Japan shut down all 54 reactors after the 2011 Fukushima disaster, but only 15 of the remaining operable units have since restarted.</p>
<p>Economic officials are also preparing for  wider economic fallout , with Finance Minister Satsuki Katayama saying the government was coordinating with G7 partners and stood ready to act against market volatility triggered by the conflict.</p>
<p>“Markets are very volatile in the wake of developments in Iran. We are ready to take all necessary steps, coordinating closely and nimbly with overseas authorities,” she told parliament.</p>
<p>With energy security and market stability at stake, Tokyo appears increasingly ready to step into the diplomatic and economic space left open.</p>
]]></description>
      <source url="https://www.globalsouthworld.com">Global South World</source>
      <media:content url="https://gsw.codexcdn.net/assets/aswaBGoZ60kzFfYsI.jpg?width=1280&amp;height=720&amp;quality=75&amp;r=fill&amp;g=no" medium="image" type="image/jpeg">
        <media:credit role="photographer">Eugene Hoshiko</media:credit>
        <media:credit role="provider">Pool</media:credit>
        <media:title>Japan's new PM Takaichi attends a press conference in Tokyo</media:title>
      </media:content>
      <dc:creator><![CDATA[Logan Zapanta]]></dc:creator>
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      <title>Dangote Refinery to curb Nigeria's fuel imports with monthly supply of 1.5 billion litres of petrol</title>
      <link>https://www.globalsouthworld.com/article/dangote-refinery-to-curb-nigeria-s-fuel-scarcity-with-monthly-supply-of-15-billion-litres-of-petrol</link>
      <guid isPermaLink="true">https://www.globalsouthworld.com/article/dangote-refinery-to-curb-nigeria-s-fuel-scarcity-with-monthly-supply-of-15-billion-litres-of-petrol</guid>
      <pubDate>Tue, 02 Dec 2025 07:15:24 Z</pubDate>
      <description><![CDATA[<p>A volume that, if achieved, could transform the nation’s longstanding dependence on imported fuel. </p>
<p>Speaking during a visit by members of the South‑South Development Commission (SSDC) to the refinery and fertiliser complex over the weekend, the refinery’s chief executive, Aliko Dangote  said  the plant will deliver roughly 50 million litres of Premium Motor Spirit (PMS) daily beginning December 1, with a similar target for January, and plans to scale up to 1.7 billion litres per month by February 2026. </p>
<p>“In line with our commitment to national well-being, and consistent with our track record of ensuring a holiday season free of fuel scarcity, the Dangote Petroleum Refinery will supply 1.5 billion litres of PMS to the Nigerian market this month. This represents 50 million litres per day. We are formally notifying the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of this commitment. We will supply another 1.5 billion litres in January and increase to 1.7 billion litres in February, which translates to about 60 million litres per day,” Dangote said.</p>
<p>The announcement comes on the back of growing pressure on Nigeria’s energy sector to end decades of chronic fuel shortages, long petrol-station queues, and volatile prices. </p>
<p>The Dangote refinery first began partial petrol distribution in 2024, addressing some of Nigeria’s fuel needs. Yet despite this progress,  imported fuel  still accounted for a large portion of the monthly supply. </p>
<p>Between August 2024 and October 2025, the country imported approximately 15.01 billion litres of Premium Motor Spirit. </p>
]]></description>
      <source url="https://www.globalsouthworld.com">Global South World</source>
      <media:content url="https://gsw.codexcdn.net/assets/asaCbcwoUg43nO72c.jpg?width=1280&amp;height=720&amp;quality=75&amp;r=fill&amp;g=no" medium="image" type="image/jpeg">
        <media:credit role="photographer">TEMILADE ADELAJA</media:credit>
        <media:credit role="provider">X06864</media:credit>
        <media:title>FILE PHOTO: A view of the newly-commissioned Dangote Petroleum refinery in Ibeju-Lekki, Lagos</media:title>
      </media:content>
      <dc:creator><![CDATA[Abigail Johnson Boakye]]></dc:creator>
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      <title>How Taiwan could revive nuclear power, step by step: Video</title>
      <link>https://www.globalsouthworld.com/article/how-taiwan-could-revive-nuclear-power-step-by-step-video</link>
      <guid isPermaLink="true">https://www.globalsouthworld.com/article/how-taiwan-could-revive-nuclear-power-step-by-step-video</guid>
      <pubDate>Thu, 04 Sep 2025 10:43:21 Z</pubDate>
      <description><![CDATA[<p>Although a national referendum failed to pass, ballots cast in favour of restarting the Maanshan Nuclear Power Plant outnumbered those against it by nearly 300% — a result viewed as a sharp rebuke of the  government ’s firm anti-nuclear stance.</p>
<p>With another referendum off the table for at least two years, questions now turn to what role nuclear power could play in import-dependent Taiwan, an island still grappling with the threat of a Chinese blockade.</p>
<p>For nuclear energy researcher Suleyman Turkes, the  way forward  lies in international partnerships.</p>
<p>“The way forward for Taiwan should start with cooperation, agreements on SMR (small modular reactor) technology, and Generation III reactors with big international companies, like the United States, France, South Korea, and Japan,” said Turkes, who studies nuclear energy and energy policies at Turkey’s Academic Research Institute (Akademik Araştırma Enstitüsü).</p>
<p>“This partnership will bring not only reactors, but also the transfer of safety culture and operational standards,” he told Global South  World . </p>
<p>Turkes outlined a three-step roadmap he believes could guide Taiwan’s nuclear future: first, revive decommissioned reactors; second, work with foreign partners to build new plants; and third, develop local expertise to design Taiwan’s own  next-generation  reactors.</p>
<p>He noted that jointly built facilities could be completed faster, a key advantage if Taiwan decides to quickly scale back on energy imports, which currently shoulder roughly 98% of its consumption. </p>
<p>In the meantime, he suggested reviving Maanshan and other previously decommissioned reactors to serve as a “bridge” between old and new facilities for up to two more decades.</p>
<p>Over the longer term, Turkes said Taiwan must invest in its own academic institutions and researchers to sustain nuclear capacity.</p>
<p>“Taiwan must also think of its own capacity, its own nuclear know-how,” he said. “Because if you only use foreign technology, maybe you solve today's problem, but not tomorrow’s.”</p>
<p>“Universities should expand their nuclear program, and new research and development centres must come. Young engineers should also join international projects,” he added.</p>
<p>Although critics argue that nuclear power only contributes around 5% of Taiwan’s energy mix, Turkes said the impact of completely abandoning it would go far beyond that figure.</p>
<p>“That 5% share from nuclear will not only be replaced by fossil fuels, but it can only be replaced by imported fossil fuels. And this means Taiwan will move away from net zero, more exposed to global price change, and under more political pressure from suppliers,” he said.</p>
<p>“Losing nuclear is just not losing 5%. It's losing competitiveness, losing stability, losing also the credibility of climate commitments.”</p>
<p>While recognising Taiwan’s potential to expand renewable energy such as solar and wind, Turkes stressed that these could only operate at a supporting capacity due to storage and reliability issues.</p>
<p>Nuclear, he argued, can deliver the same output with far greater stability.</p>
<p>“The best way for Taiwan's energy security is nuclear,” he said. “Nuclear not only reduces fossil dependence, it's the backbone of the system.”</p>
]]></description>
      <source url="https://www.globalsouthworld.com">Global South World</source>
      <media:content url="https://cdn.vpplayer.tech/agmipocc/encode/vjsnzrci/mp4/720p.mp4" medium="video" type="video/mp4">
        <media:title>Suleyman Turkes - Nuclear energy expert</media:title>
      </media:content>
      <media:thumbnail url="https://cdn.vpplayer.tech/agmipocc/encode/vjsnzrci/thumbnails/retina.jpg" />
      <dc:creator><![CDATA[Logan Zapanta, Edward Sakyi]]></dc:creator>
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      <title>Nuclear energy is officially out in Taiwan—What now?</title>
      <link>https://www.globalsouthworld.com/article/nuclear-energy-is-officially-out-in-taiwanwhat-now</link>
      <guid isPermaLink="true">https://www.globalsouthworld.com/article/nuclear-energy-is-officially-out-in-taiwanwhat-now</guid>
      <pubDate>Mon, 25 Aug 2025 14:17:05 Z</pubDate>
      <description><![CDATA[<p>While 4.3 million voters backed restarting operations in the island’s last reactor, far outnumbering the 1.5 million opposed, the result was still insufficient to overturn its May decommissioning.</p>
<p>Saturday’s outcome effectively seals the phaseout of nuclear power on the island, once a cornerstone of its electricity mix, and fulfils the ruling Democratic Progressive Party’s pledge to create a “nuclear-free homeland.” </p>
<p>What happens next remains uncertain. For some analysts, the strong but insufficient support for nuclear power could prompt policymakers to rethink their hardline stance.</p>
<p>“The result sends a very strong signal to the government that more Taiwanese people, in fact, are not in favour of the government's current stance of completely ruling out nuclear power as one of the sources of energy for Taiwan,” William Hao-Wei Yang, a Taiwanese analyst with the International Crisis Group, told Global South  World .</p>
<p>“This result has already pushed the  government  to come out and positively respond to the more than 4.3 million Taiwanese people's votes,” he added. “I believe that this could lead to further reconsideration for the ruling party regarding its longstanding opposition to nuclear power.”</p>
<p>Turnout, more than the arguments from the anti-nuclear camp, proved decisive in the referendum. Only about a quarter of Taiwan’s nearly 20 million eligible voters cast their ballots, leading to the sub-threshold result.</p>
<p>Yang argues that limited public engagement stemmed from poor communication and a lack of emphasis from political leaders.</p>
<p>“This issue hasn't really been the defining topic that has mobilised a large number of Taiwanese  people  to come out and participate in voting,” he said. “Neither the opposition parties nor the ruling party has put enough emphasis on this particular topic.”</p>
<p>“This remains an issue that needs more public discussion and perhaps more, you know, grassroots level public education so that Taiwanese people have a broader understanding about where they might want to stand on this particular issue going forward,” he added. </p>
<p>Nuclear not gone for good</p>
<p>Doing away with nuclear power has long been a signature promise of the Democratic Progressive Party, giving the August referendum undeniable political undertones.</p>
<p>“In Taiwan, relevant conversations oftentimes become too politicised, and that overshadows the necessary scientific factors and elements that should be included in the discussion and debate," Yang said.</p>
<p>While the outcome bolstered the party’s credibility in pursuing its “nuclear-free homeland” policy, it also exposed growing unease with its uncompromising stance, according to Yang.</p>
<p>“(Saturday’s) outcome means more than just their energy policy,” he said. “(It reflects the) public's discontent with the approach that the ruling party has adopted since President Lai Ching-te came to power in May 2024,” </p>
<p>“I think we might in fact see a fundamental shift — or at least an adjustment — from the ruling party when it comes to their policies on energy,” he added. “It could set off a re-evaluation within the ruling party about the validity of its political slogan (nuclear-free homeland).”</p>
<p>After the vote, Taiwan President Lai Ching-te, a staunch opponent of nuclear power, acknowledged what he called “society’s expectations for diverse energy options.”</p>
<p>"If in the future, the technology becomes safer, nuclear waste is reduced, and societal acceptance increases, we will not rule out advanced nuclear energy," he told reporters on Saturday.</p>
<p>That tentative opening could leave a path forward for nuclear power in Taiwan, Yang noted.</p>
<p>“Based on the consensus and the government's positive response to the outcome, it could probably help find that path for civil society, but also Taiwan as a whole, to move forward when it comes to resolving the current dilemma that Taiwan faces when it comes to improving energy resilienc in a scientific and safe way,” the analyst said.</p>
<p>A path forward</p>
<p>Debates over nuclear power in Taiwan have largely focused on  health  concerns, energy security, and the economy, and arguments for nuclear power have mostly centred on restarting  decades-old plants . </p>
<p>Pro-nuclear groups often point to Taiwan’s reliance on imports for about 98% of its energy, a vulnerability for the world’s leading semiconductor maker. Before its shutdown, nuclear power provided about 5.3% of the island’s electricity supply.</p>
<p>Yang warned that without a serious policy rethink, this dependence will persist.</p>
<p>“Before the government really adjusts its energy policy and makes a public commitment to pursue advanced nuclear-based energy solutions, Taiwan, unfortunately, will continue to have to rely on 98% of its energy imported from abroad,” he said. </p>
<p>Yang also underscored the need for a more nuanced approach to Taiwan’s energy problems.</p>
<p>“At this point, the majority of the Taiwanese public's understanding about different types of nuclear energy solutions remains very limited, and that is not going to help push relevant conversations forward,” he said. </p>
<p>“The government will have to genuinely consider taking the initiative to organise nationwide local-level information sessions to raise public awareness about relevant issues, and then that can lead to a better-informed public and also a better-informed policymaking process.” </p>
<p>While Saturday’s referendum failed to overturn the standing nuclear-free homeland policy, Yang believes it could mark the beginning of a broader discussion in Taiwan. </p>
<p>“I think it will accelerate the domestic discussion, and it really sends a sense of urgency that will push politicians, both the government but also lawmakers in the parliament, to try to come together and determine a path forward for maintaining Taiwan's energy resilience and at the same time ensuring its ability to provide a stable energy supply.”</p>
]]></description>
      <source url="https://www.globalsouthworld.com">Global South World</source>
      <media:content url="https://cdn.vpplayer.tech/agmipocc/encode/vjsnzmbb/mp4/1080p.mp4" medium="video" type="video/mp4">
        <media:title>Post-Taiwan nuclear referendum with William Hao-Wei Yang</media:title>
      </media:content>
      <media:thumbnail url="https://cdn.vpplayer.tech/agmipocc/encode/vjsnzmbb/thumbnails/retina.jpg" />
      <dc:creator><![CDATA[Logan Zapanta, Edward Sakyi]]></dc:creator>
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      <title>Shell to reshape global operations with South Africa exit after 120 years</title>
      <link>https://www.globalsouthworld.com/article/shell-to-reshape-global-operations-with-south-africa-exit-after-120-years</link>
      <guid isPermaLink="true">https://www.globalsouthworld.com/article/shell-to-reshape-global-operations-with-south-africa-exit-after-120-years</guid>
      <pubDate>Tue, 07 May 2024 09:38:43 Z</pubDate>
      <description><![CDATA[<p>In a statement issued on May 6, Shell Downstream South Africa (SDSA) announced its decision to divest its majority shareholding from its South African downstream unit. This move follows a comprehensive review of its downstream and renewables businesses across all regions.</p>
<p>"As a result of this review, Shell has decided to reshape the downstream portfolio and intends to divest our shareholding in Shell Downstream SA (SDSA). Considering SDSA’s illustrious history, this decision was not taken lightly," the company stated.</p>
<p>The downstream business involves refining, transporting, and selling fuel to customers. Shell operates approximately 700 fuel service stations across South Africa, South African media  News24  reported.</p>
<p>"Over more than 120 years in South Africa, Shell has built an enormous legacy that we can all be proud of… During the divestment process, we will work to preserve Shell Downstream South Africa's operating capabilities, maintain the Shell brand presence, and secure the best possible outcome for our people and customers in South Africa under new ownership," the company added.</p>
<p>The company is also selling its gas station business in Malaysia to Saudi Arabia's state-owned Saudi Aramco, according to  Reuters . The sale of the gas station business in Malaysia, the country's second-largest network, could reportedly be worth up to $1 billion.</p>
<p>Shell's exit from part of its Asian and African market follows an earlier announcement on January 16 about the sale of its  onshore operations in Nigeria .</p>
<p>This series of divestments is part of Shell CEO Wael Sawan's ongoing efforts to streamline its operations and focus on higher-return ventures. The oil giant plans to divest 500 gas stations in 2024 and 2025 and is currently in the process of selling its Singapore refinery and petrochemical complex, Reuters reports.</p>
]]></description>
      <source url="https://www.globalsouthworld.com">Global South World</source>
      <media:content url="https://gsw.codexcdn.net/assets/asjVFsJioJp1vAJ8l.jpg?width=1280&amp;height=720&amp;quality=75&amp;r=fill&amp;g=no" medium="image" type="image/jpeg">
        <media:credit role="photographer">May James</media:credit>
        <media:credit role="provider">REUTERS</media:credit>
        <media:title>FILE PHOTO: A view shows a logo of Shell petrol station in South East London</media:title>
      </media:content>
      <dc:creator><![CDATA[Edward Sakyi]]></dc:creator>
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      <title>Qatar's natural gas potential described as game-changer in global energy dynamics</title>
      <link>https://www.globalsouthworld.com/article/qatar-s-natural-gas-potential-a-game-changer-in-global-energy-dynamics</link>
      <guid isPermaLink="true">https://www.globalsouthworld.com/article/qatar-s-natural-gas-potential-a-game-changer-in-global-energy-dynamics</guid>
      <pubDate>Mon, 15 Apr 2024 12:44:54 Z</pubDate>
      <description><![CDATA[<p>According to energy expert Dean Tavakoli, the Gulf nation’s deliberate pivot towards prioritising natural gas production, despite an initial focus on crude oil, has catalysed a significant shift in its economic landscape.</p>
<p>The country's vast reserves of natural gas, estimated at approximately 896 trillion cubic feet, position it as a global leader in the industry, holding 14% of the world's known reserves, according to Tavakoli.</p>
<p>"While Qatar remains a notable oil producer, it has strategically prioritised the development of natural gas, especially for liquefied natural gas (LNG) export," Tavakoli said. </p>
<p>He emphasized LNG's crucial role in Qatar's energy strategy, leveraging lower production costs and a strategic location to become a preferred supplier.</p>
<p>Tavakoli pointed out Qatar's advantage over the United States in accessing higher growth markets, particularly in Asia. He noted challenges for the U.S. in competing with Qatar due to higher production and transportation costs, exacerbated by delays in LNG terminal licensing.</p>
<p>“Qatar's strategic location is closer to a higher growth market compared to the United States. The United States has faced a significant backlash by delaying the issuance of new licenses for a new LNG terminal for environmental review. However, the United States seems to be focusing only on the European market. This shift may prove challenging for the United States to compete with Qatar in the Asian market, primarily due to the higher prime cost and transportation cost attributed to the distance factor,” he said.</p>
<p>The competitive edge extends to liquefied petroleum gas (LPG) production. At $66.9 billion,  Qatar's top-ranked export in 2022  was petroleum gas. The Persian Gulf state also ranked as the fifth-largest exporter of petroleum in the world that same year with the top five countries to receive petroleum gas exports from Qatar being India ($12.6B), China ($12.3B), South Korea ($7.39B), United Kingdom ($7.31B), and Belgium ($5.37B).</p>
<p>Amid the growing emphasis on renewable energy sources, experts underscore the enduring importance of natural gas due to its reliability and cost-effectiveness, according to Tavakoli’s insights.</p>
<p>He claims Qatar's strategic foresight and efficient utilisation of financial resources have catapulted it to the forefront of the global energy landscape. He adds that Qatar could take over a substantial market share of 24-25% by 2030.</p>
<p>In February, Qatar  announced  plans to ramp up capacity to 142 million tonnes per annum by 2030 from the offshore North Field, the world's largest natural gas production site.</p>
<p>The expansion, known as North Field West, will add 16 million tonnes of LNG annually, as reported by Qatar’s Energy Minister Saad Sherida al-Kaabi, who also heads the state-owned company QatarEnergy.</p>
<p>Al-Kaabi highlighted recent studies indicating significant additional gas quantities in the North Field, raising Qatar's gas reserves to over 2,000 trillion cubic feet, and solidifying its global natural gas powerhouse position.</p>
]]></description>
      <source url="https://www.globalsouthworld.com">Global South World</source>
      <media:content url="https://gsw.codexcdn.net/assets/asxywnJc6z3dDTeRn.jpg?width=1280&amp;height=720&amp;quality=75&amp;r=fill&amp;g=no" medium="image" type="image/jpeg">
        <media:credit role="photographer">Noushad Thekkayil</media:credit>
        <media:credit role="provider">X07413</media:credit>
        <media:title>Qatar's Energy Minister Press Conference</media:title>
      </media:content>
      <dc:creator><![CDATA[Edward Sakyi]]></dc:creator>
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      <title>Rwanda’s capital markets diversify with first-ever green bonds</title>
      <link>https://www.globalsouthworld.com/article/rwandas-capital-markets-diversify-with-first-ever-green-bonds</link>
      <guid isPermaLink="true">https://www.globalsouthworld.com/article/rwandas-capital-markets-diversify-with-first-ever-green-bonds</guid>
      <pubDate>Wed, 20 Mar 2024 17:22:05 Z</pubDate>
      <description><![CDATA[<p>The approval, announced in a statement, aims to diversify asset classes and advance the development of Rwanda's capital market infrastructure,  the East African  reports.</p>
<p>CEO of the Rwanda Capital Markets Authority, Eric Bundugu, expressed satisfaction with the milestone, emphasising its role in supporting Rwanda's commitment to sustainable financial development.</p>
<p>"This approval marks a significant milestone for Rwanda's capital markets. The issuance of Prime Energy's green bond not only diversifies asset classes but also underscores Rwanda's dedication to fostering sustainable finance practices," said Bundugu.</p>
<p>Scheduled to open on March 18 and close on April 5, the bond issuance will offer investors an opportunity to engage with environmentally responsible investment opportunities while contributing to the expansion of Rwanda's renewable energy sector. </p>
<p>Prime Energy's green bond, aiming to raise Rwf9.5 billion ($7.31 million), will span a seven-year term. The proceeds generated from the bond issuance will be allocated towards financing a new project and bolstering the maintenance of existing energy infrastructure, particularly hydropower plants.</p>
<p>"Securing approval for Rwanda's first-ever green bond is a momentous achievement for Prime Energy and the broader capital markets landscape. The proceeds will enable us to enhance our hydropower capacity and extend the reach of sustainable energy solutions to more communities," Sandy Rusera, CEO of Prime Energy, said while emphasising the potential to unlock other alternative avenues for financing through capital markets.</p>
<p>The East African reports that a collaboration between Prime Energy and the International Finance Corporation (IFC), the private sector arm of the World Bank Group, played a pivotal role in structuring the green bond and identifying potential investors.</p>
<p>A  green bond , also called a climate bond, is a form of debt security issued by an entity with the intention of funding or refinancing initiatives that have a beneficial impact on the environment and or climate.</p>
]]></description>
      <source url="https://www.globalsouthworld.com">Global South World</source>
      <media:content url="https://gsw.codexcdn.net/assets/aswXUqpcOv9xO4VyQ.jfif?width=1280&amp;height=720&amp;quality=75&amp;r=fill&amp;g=no" medium="image" type="image/jpeg">
        <media:credit role="provider">Official Twitter account of the Office of the President of Rwanda</media:credit>
        <media:title>Paul Kagame-Twitter</media:title>
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      <dc:creator><![CDATA[Portia Etornam Kornu]]></dc:creator>
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      <title>South Africa takes lead in Sub-Saharan Africa's renewable energy expansion</title>
      <link>https://www.globalsouthworld.com/article/south-africa-takes-lead-in-sub-saharan-africa-s-renewable-energy-expansion</link>
      <guid isPermaLink="true">https://www.globalsouthworld.com/article/south-africa-takes-lead-in-sub-saharan-africa-s-renewable-energy-expansion</guid>
      <pubDate>Thu, 18 Jan 2024 07:45:48 Z</pubDate>
      <description><![CDATA[<p>This projection, more than doubling the region's existing installed capacity, has been revised upward by almost 20%, primarily due to the expansion efforts in South Africa, accounting for nearly half of the region's additions.</p>
<p>Aside from South Africa, Ethiopia anticipates over 6 GW of additional capacity driven by hydropower, while Nigeria is set to add 5 GW through distributed solar PV. Angola and Kenya are expected to contribute over 2 GW each to the region's new renewable capacity, an IEA report projects.</p>
<p>The report further highlights that solar PV and wind sources make up nearly 80% of the new additions across the market, predominantly led by South Africa's influential auction program and the expanding use of industrial and residential solar PVs.</p>
<p>However, with South Africa excluded, the regional forecast experiences a 5% reduction due to the absence of support programs and limited project pipelines. Many countries heavily rely on large-scale hydropower, with Angola, Ethiopia, and Tanzania showcasing significant dependence on hydropower for their renewable energy expansion. </p>
<p>The report titled ‘Renewables 2023: Analysis and Forecast to 2028’ further notes, amongst others, that “low network capacity is thus a major forecast challenge, as projects may need to wait years for grid connection or may be forced to cancel due to lack of network access.” Thus, accelerating renewable energy capacity growth necessitates investment in new projects and infrastructure development.</p>
<p>The region faces inconsistent policies, off-taker risks, land access issues, and currency fluctuations. The accelerated case suggests that effective policies, coupled with development bank and international aid agency-enabled programs, could yield nearly 30% higher additions than the main case.</p>
<p>To generate viable solutions, the report highlighted collaborative efforts between financiers and governments as crucial to overcoming challenges related to off-taker risks, land access, currency fluctuations, and a lack of enabling infrastructure.</p>
<p>The report further underscores the need for sustained collaboration, infrastructure development, and innovative solutions to overcome hurdles and realize the full potential of renewable energy across the continent.</p>
]]></description>
      <source url="https://www.globalsouthworld.com">Global South World</source>
      <media:content url="https://gsw.codexcdn.net/assets/asq8eQQ2cRDiJiutB.webp?width=1280&amp;height=720&amp;quality=75&amp;r=fill&amp;g=no" medium="image" type="image/webp">
        <media:title>solar power in Central African Republic</media:title>
      </media:content>
      <dc:creator><![CDATA[Portia Etornam Kornu]]></dc:creator>
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      <title>Renewables tipped to surpass coal in global electricity generation by 2025 </title>
      <link>https://www.globalsouthworld.com/article/renewables-tipped-to-surpass-coal-in-global-electricity-generation-by-2025</link>
      <guid isPermaLink="true">https://www.globalsouthworld.com/article/renewables-tipped-to-surpass-coal-in-global-electricity-generation-by-2025</guid>
      <pubDate>Wed, 17 Jan 2024 15:13:32 Z</pubDate>
      <description><![CDATA[<p>Projections indicate a remarkable growth in potential renewable electricity generation, reaching approximately 14,400 TWh by 2028, signifying a surge of nearly 70% from 2022, an  IEA report  indicates.</p>
<p>The report titled  ‘Renewables 2023: Analysis and Forecast to 2028 ’ further highlights the significant milestones in achieving this global shift over three to five years, between 2024 and 2028.</p>
<p>In 2024, the report forecasts a historic moment as variable renewable generation outpaces the traditionally dominant hydropower. This will mark a crucial shift in the energy paradigm, highlighting the increasing demand for diverse renewable sources in the global power mix.</p>
<p>Later in 2025, renewable energy is set to surpass coal-fired electricity generation. This shift reflects a substantial stride towards sustainable energy practices, emphasising the global commitment to reducing reliance on fossil fuels. Continuing in the same year, wind energy is projected to outperform nuclear electricity generation. This underlines the growing significance of wind power as a major contributor to the world's energy needs.</p>
<p>In 2026, the solar photovoltaic (PV) sector is expected to achieve a significant milestone by surpassing nuclear electricity generation. The increasing efficiency and affordability of solar technology play a significant role in this transformative shift toward cleaner and more sustainable energy sources.</p>
<p>The IEA projects a conclusion to the shift in 2028, as solar PV is projected to overtake wind electricity generation. This milestone emphasises the accelerating growth and widespread adoption of solar power in the global energy landscape. Solar PV is a non-mechanical device designed to directly convert sunlight into electricity.</p>
<p>The report reads in part, “Over the forecast period, potential renewable electricity generation growth exceeds global demand growth, indicating a slow decline in coal-based generation while natural gas remains stable. In 2028, renewable energy sources will account for 42% of global electricity generation, with wind and solar PV making up 25%. In 2028, hydropower will remain the largest renewable electricity source. While renewables are currently the largest energy source for electricity generation in 57 countries, mostly thanks to hydropower, these countries represent just 14% of global power demand. By 2028, 68 countries will have renewables as their main power generation source, but they still only account for 17% of global demand.”</p>
<p>With nations increasingly adopting renewable energy policies and working towards achieving these milestones, the renewable energy revolution is set to leave a mark on the history of global power generation.</p>
]]></description>
      <source url="https://www.globalsouthworld.com">Global South World</source>
      <media:content url="https://gsw.codexcdn.net/assets/asgswfvsBm61NsYkp.jpg?width=1280&amp;height=720&amp;quality=75&amp;r=fill&amp;g=no" medium="image" type="image/jpeg">
        <media:credit role="photographer">ANDREW BOYERS</media:credit>
        <media:credit role="provider">X03813</media:credit>
        <media:title>FILE PHOTO: Wind turbines at Westmill Wind Farm &amp; Solar Park</media:title>
      </media:content>
      <dc:creator><![CDATA[Portia Etornam Kornu]]></dc:creator>
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      <title>Shell to get rid of Nigeria onshore oil operation for $2.4 billion: summary</title>
      <link>https://www.globalsouthworld.com/article/shell-to-get-rid-of-nigeria-onshore-oil-operation-for-24-billion-summary</link>
      <guid isPermaLink="true">https://www.globalsouthworld.com/article/shell-to-get-rid-of-nigeria-onshore-oil-operation-for-24-billion-summary</guid>
      <pubDate>Wed, 17 Jan 2024 06:00:00 Z</pubDate>
      <description><![CDATA[<p>What we know</p>
<p>What they said</p>
<p>“This agreement marks an important milestone for Shell in Nigeria, aligning with our previously announced intent to exit onshore oil production in the Niger Delta, simplifying our portfolio and focusing future disciplined investment in Nigeria on our Deepwater and Integrated Gas position. It is a significant moment for SPDC, whose people have built it into a high-quality business over many years. Now, after decades as a pioneer in Nigeria’s energy sector, SPDC will move to its next chapter under the ownership of an experienced, ambitious Nigerian-led consortium. Shell sees a bright future in Nigeria with a positive investment outlook for its energy sector. We will continue to support the country’s growing energy needs and export ambitions in areas aligned with our strategy,” said Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director.</p>
]]></description>
      <source url="https://www.globalsouthworld.com">Global South World</source>
      <media:content url="https://gsw.codexcdn.net/assets/asThAsJ35rbGAiluL.jpg?width=1280&amp;height=720&amp;quality=75&amp;r=fill&amp;g=no" medium="image" type="image/jpeg">
        <media:credit role="photographer">CHRIS HELGREN</media:credit>
        <media:credit role="provider">X00378</media:credit>
        <media:title>FILE PHOTO: LNG 2023 energy trade show in Vancouver</media:title>
      </media:content>
      <dc:creator><![CDATA[Edward Sakyi]]></dc:creator>
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      <title>Burkina Faso launches energy initiatives to fuel the future</title>
      <link>https://www.globalsouthworld.com/article/burkina-faso-launches-energy-initiatives-to-fuel-the-future</link>
      <guid isPermaLink="true">https://www.globalsouthworld.com/article/burkina-faso-launches-energy-initiatives-to-fuel-the-future</guid>
      <pubDate>Thu, 07 Dec 2023 07:30:00 Z</pubDate>
      <description><![CDATA[<p>This was announced by the country’s Prime Minister, Apollinaire Kyélem during his address on the nation's situation on December 1, 2023.</p>
<p>The country has signed an agreement with  Ghana  for the construction of a multi-product oil pipeline to supply Burkina Faso with hydrocarbons.</p>
<p>“Negotiations are continuing with the Islamic Republic of Iran for the construction of an oil refinery,” the Prime Minister was quoted by local media  Aouaga .</p>
<p>The third initiative involves the installation of a nuclear power plant to produce electricity in Burkina. This he said will be implemented with the support of  Russia .</p>
<p>“What seemed utopian only a short time ago can become a reality. We must dare to think outside the box if we want to build a prosperous future for our country,” said Apollinaire Kyélem.</p>
<p>Speaking on the Noumbiel hydroelectric dam in the country, the Prime Minister said the project will be revived not only for electrical energy but also for agriculture and water supply, local media  Aouaga  reported .</p>
<p>The Noumbiel Dam is a multipurpose dam between Burkina Faso and Ghana. It has an estimated capacity of 11.3 billion m3 for a volume of 8.8 billion m3, a hydroelectric potential of more than 303 GWh, and a hydro-agricultural potential of nearly 9,000 ha.</p>
<p>Apollinaire underscored the intent behind these initiatives, aiming to make up for lost time in electricity production in Burkina Faso and revive the country’s energy capacity.</p>
]]></description>
      <source url="https://www.globalsouthworld.com">Global South World</source>
      <media:content url="https://gsw.codexcdn.net/assets/asvOfrTpGB4eYjc7D.jpg?width=1280&amp;height=720&amp;quality=75&amp;r=fill&amp;g=no" medium="image" type="image/jpeg">
        <media:credit role="provider">http://news.aouaga.com/h/151265.html</media:credit>
        <media:title>Dr. Apollinaire Joachimson Kyélèm</media:title>
      </media:content>
      <dc:creator><![CDATA[Believe Domor]]></dc:creator>
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