Tag Archives: Energy (TRBC level 1)

Snam Italia sets a target of 2040 carbon in the clean energy drive | Instant News


FILE PHOTO: Italian gas group Snam logo seen outside their office in Rome, Italy, 4 June 2020. REUTERS / Guglielmo Mangiapane

MILAN (Reuters) – The Italian gas group Snam aims to become carbon neutral by 2040 and will increase spending on preparing its grid for hydrogen and the transition to cleaner energy sources.

Europe’s biggest gas pipeline company said Wednesday that it would invest 7.4 billion euros through 2024, half of which would prepare its infrastructure to receive hydrogen.

It said the net zero-carbon target does not include emissions beyond its control, but works with suppliers to address the so-called Scope 3 emissions that are generated by the provision and use of its products.

He said his party aimed to reduce direct and indirect carbon emissions by 50% by 2030 from the previous target of 40%.

“Snam will be one of the first energy companies to achieve carbon neutrality by 2040 and make a broad contribution to system decarbonization through developing green gases and, in particular, hydrogen,” said Snam CEO Marco Alvera.

The company, which is also interested in getting involved in the water sector, said it aspires to fully transport decarbonized gas on its network by 2050 to make Italy a European hydrogen hub.

Snam, which derives most of its revenue from gas transportation in Italy, wants to expand the use of hydrogen in pipelines and has achieved a 10% hydrogen mix in a pilot study.

Net profit in the 2020-2024 period is expected to grow 2.5% per year while core income will increase by an average of 3.3%, the company said, emphasizing dividend growth of 5% per year until 2022.

Reporting by Stephen Jewkes; editing by Agnieszka Flak and Barbara Lewis

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Italy’s Saipem signs an agreement with Saudi Aramco for ground activities | Instant News


FILE PHOTO: A scene showing a branded oil tank at the Saudi Aramco oil facility in Abqaiq, Saudi Arabia 12 October 2019. REUTERS / Maxim Shemetov

MILAN (Reuters) – Italian energy services group Saipem SPMI.MI said on Wednesday it had signed a framework agreement with Saudi Aramco covering engineering and ground construction activities.

It said the agreement, which will last 12 years, is part of Saudi Aramco’s broader long-term plan to upgrade its facilities in Saudi Arabia’s Eastern Province.

The agreement requires efficiency activities at the existing facilities, Saipem said.

Reporting by Stephen Jewkes, editing by Giulia Segreti

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Italy drafts guidelines for a national hydrogen strategy, the document shows | Instant News


MILAN, Nov 16 (Reuters) – Italy has set guidelines for a national hydrogen strategy to help decarbonize the economy as it gradually phases out coal and increases production of renewable energy to meet long-term climate targets.

In a draft document called the National Hydrogen Strategy Preliminary Guide, seen by Reuters, the Ministry of Industry said it was targeting investment in the sector at around 10 billion euros ($ 12 billion) by 2030, with half of that coming from European funds and private investment. .

To help increase “green” hydrogen production, about 5 gigawatts of electrolysis capacity to extract gas from water will be introduced during the period, the document says.

Electrolysis can be a carbon-free process if the power used is generated from renewable energy. Hydrogen is now mostly produced from fossil fuels or other carbon emission processes, because electrolysis is too expensive because of the large power required.

By 2030, hydrogen could account for 2% of Italy’s final energy demand and help remove up to 8 million tonnes of CO2, the document said. As the scale of the industry goes up and costs fall, this could reach up to 20% by 2050, he said.

The document, when published, will form the basis of consultations before a final hydrogen strategy is approved, possibly early next year.

Brussels mapped out plans this year to promote hydrogen as it strives to achieve net zero emissions by 2050. France, Germany and Spain have set their own targets.

Hydrogen is currently too expensive to be widely used but as costs go down, governments around the world see it as a substitute for fossil fuels in areas where electrification is not an easy solution.

The ministry document, which says the plan could create more than 200,000 jobs and generate up to 27 billion euros in Italy’s gross domestic product, said hydrogen could be used in transportation, heavy industry and natural gas pipelines.

Italian gas group Snam has been experimenting with a 10% hydrogen mixture in part of its natural gas network, while power company Enel and energy company Eni both have hydrogen plans.

$ 1 = 0.8458 euros Reported by Stephen Jewkes; Edited by Edmund Blair

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Petrobras Brasil opens sales processes for the old Marlim oil cluster | Instant News


FILE PHOTO: The logo of the Brazilian state-owned Petrobras oil company is seen at their headquarters in Rio de Janeiro, Brazil October 16, 2019. REUTERS / Sergio Moraes / Photo File / Photo File / Photo File

RIO DE JANEIRO (Reuters) – Petroleo Brasileiro SA from Brazil PETR4.SA is preparing to sell a 50% stake in the marine oil cluster in its legacy, the company said Monday in a filing.

In production since the 1980s in the Campos Atlantic Ocean basin, the giant Marlim cluster has four fields – Marlim, Voador, Marlim Leste and Marlim Sul – producing 217,000 barrels of oil per day, or nearly 10% of the company’s total production.

The sale, at an early stage, is part of Petrobras’ plan to sell non-core assets to cut debt and focus investment in the world’s largest deepwater discovery this century, in the so-called pre-salt region.

Newer pre-saline deposits, found under a thick layer of salt on the seabed in Brazilian waters, have increased rapidly in the last decade and are responsible for more than 70% of Petrobras production.

Marlim was once the largest oil field with more than 500,000 barrels per day, Marlim has experienced a decline in production in the last decade. At present, Marlim Sul and Marlim are Brazil’s sixth and eighth largest oil fields, respectively. Marlim Sul has the largest number of producing wells in Brazil, 67.

The four fields which also produce 3.6 million cubic meters of natural gas are located between 90-150 kilometers offshore and up to 2,500 meters below the seabed.

Petrobras shares rose more than 4% in Sao Paulo following the announcement.

Reporting by Sabrina Valle, editing by Louise Heavens and Steve Orlofsky

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Brazil will pay $ 220 to low-income residents affected by the blackout | Instant News


BRASILIA, Nov 13 (Reuters) – Brazil must pay 1,200 reais ($ 219.68) to every low-income resident in the northern state of Amapá that has recently been affected by widespread power outages, a federal court ruling on Friday.

The northern state, with a population of 750,000, has been plagued by blackouts that haven’t been completely resolved for more than 10 days.

The judge also ordered electric utility Linhas de Macapá Transmissora de Energia SA to end the blackout, under a potential fine of 50 million reais if it fails to do so.

Earlier this week, electricity service in the state was back up to 80%, authorities said. ($ 1 = 5,4625 reais) (Reported by Ricardo Brito; Editing by Richard Chang)

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