Latest news with #InternationalEnergyAgency
CNBC
38 minutes ago
- Business
- CNBC
How are data centers meeting energy requirements?
The International Energy Agency projects that energy consumption from data centers will almost double by 2030. CNBC's JP Ong explores how data center companies are managing and even meeting the increased energy requirements at the sidelines of the Energy Asia conference.
Bloomberg
6 hours ago
- Business
- Bloomberg
IEA Sees Bargains in $100 Billion LNG Clean-Up Proposal
The world's liquefied natural gas supply chains spew roughly 350 million tons of carbon dioxide equivalent a year — more than Italy's annual emissions. For roughly $100 billion, that climate footprint could be cut by 60%, according to the International Energy Agency. The proposal identifies multiple low-cost opportunities that would significantly decrease LNG's climate footprint. For instance, cutting methane leaks alone could bring down annual emissions by close to 90 million tons of CO2e, or 25% of total LNG emissions, the IEA said. About half of that reduction could be realized at no net cost.
India Gazette
6 hours ago
- Business
- India Gazette
Battery storage investment in India expected to cross USD 1 billion in 2025, but high financing costs remain a challenge: IEA
New Delhi [India], June 20 (ANI): Battery storage investment in India is expected to cross USD 1 billion in 2025; however, high financing costs remain a challenge, according to a recent report by the International Energy Agency (IEA). The report noted that while battery storage investment continues to rise globally, challenges remain, particularly in developing economies like India, where high financing costs are still a major hurdle. The IEA stated, 'Developing economies continue to struggle with high financing costs, with financing costs for battery storage projects reaching twice the levels seen in advanced economies. Battery storage investment in India stands out, and is expected to surpass USD 1 billion in 2025.' The report also shared that globally, investment in battery storage grew by 45 per cent in 2024 compared to the previous year. The United States, Europe, and China remained the largest contributors, accounting for more than 90 per cent of total global investment in the sector. In India, however, despite the strong growth forecast, battery storage projects face difficulties due to high financing costs. These costs are nearly double compared to those in advanced economies, making it harder for such projects to achieve profitability. The IEA stressed that targeted policies, regulatory measures, and financial support are essential to attract more investment in emerging markets. It stated, 'Policies, regulatory measures and targeted incentives remain a key element in driving further progress, especially amid growing power price volatility, which is calling for more battery storage'. The report also highlighted that battery storage projects are increasingly depending on multiple revenue sources to stay profitable. These include energy arbitrage, frequency regulation, peak shaving, and integration with renewable energy. But to fully unlock the potential of battery storage, a strong regulatory framework is required that ensures the revenue streams are cost-reflective and stable. The situation in Europe presents a contrasting picture. After a decade of strong growth, the battery storage market in Europe slowed down in 2024. Despite this, power price volatility in the region is expected to drive future demand for storage, making policy support even more critical. Meanwhile, in China, growth in utility-scale battery storage continues, supported by policy mandates that require energy storage to be part of new renewable projects. However, reforms expected in the second half of 2025 may lead to a cooling of this growth trend. The report also flagged concerns around the supply of critical minerals used in batteries. After prices surged in 2022, key mineral prices like lithium saw a steep decline in 2024, helping reduce the production cost pressures on battery manufacturers. IEA says, while global investment in battery storage is on a strong upward path, emerging economies like India must address financing barriers to fully realize their potential in the battery storage market. (ANI)
See - Sada Elbalad
8 hours ago
- Business
- See - Sada Elbalad
Iran Maintains Oil Exports during Conflict with Israel
Taarek Refaat As tensions between Iran and Israel escalate into direct military confrontation, Tehran is quietly repositioning its oil export strategy to protect a crucial revenue stream and navigate tightening U.S. sanctions. According to two ship-tracking firms that spoke with Reuters, Iran is continuing to export crude oil largely unabated, using a "shadow fleet" of tankers and adapting its loading operations to minimize risk. While missile exchanges between the two adversaries have targeted strategic energy infrastructure — including Israel's Haifa oil refinery and Iran's South Pars gas field — Iran's main crude terminal on Kharg Island remains intact. Recent data from energy analytics firm Kpler shows that Iran has loaded 2.2 million barrels of crude per day so far this week, the highest volume in over a month. The loading operations have shifted exclusively to the island's eastern jetty, a move seen as a precaution amid ongoing hostilities. Floating storage allows Iran to respond quickly to market demand and sidestep sanctions enforcement by disguising cargo origins or swapping cargo at sea. This flexibility becomes even more valuable during wartime or geopolitical instability. Despite the reimposed U.S. sanctions — and additional restrictions targeting Chinese refiners since March — Iranian oil exports have remained resilient. The International Energy Agency (IEA) reported on Tuesday that exports have held steady at around 1.7 million barrels per day throughout 2025. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean News 3 Killed in Shooting Attack in Thailand
Reuters
11 hours ago
- Automotive
- Reuters
Breakingviews - China may win more than EU from auto tariff truce
LONDON/HONG KONG, June 19 (Reuters Breakingviews) - A détente in the electric vehicle tariff war may suit China more than Europe. Brussels and Beijing are haggling over a way for Chinese manufacturers to sell battery rides tariff-free, but at a minimum price. Embracing such a system would be a risky move. Europe's electric-vehicle tariffs are barely a year old. Brussels added extra levies of up to 35% to offset the competitive advantages that made-in-China vehicles get from government subsidies or cheap labour. Now, the People's Republic is pushing an alternative: rather than duties levied on imports, carmakers would commit to not sell below a certain price, a model used before with solar panels. Such a system could have benefits. Chinese manufacturers would not have to absorb the burden of levies through discounted prices. Europe, meanwhile, would be able to mollify Beijing and so avoid tit-for-tat tariffs on cognac and other exports, but still stop it dumping cars on the cheap. The latter is a potential mortal threat to Renault ( opens new tab or Volkswagen ( opens new tab. Last year, the Middle Kingdom exported, opens new tab some 1.25 million electric vehicles, more than half of the total production in Europe, as per International Energy Agency data. Look beneath the hood, however, and there are issues. Europe would probably want to find a level that reflects the extent of subsidies enjoyed by each carmaker, as it did with tariffs. A single tariff, likely China's preferred option, would be less precise. Either way, establishing a minimum floor for a complex vehicle with many moving parts would be challenging. It could also quickly become obsolete. Renault and Volkswagen are launching cheaper EV models to compete with China, and changes in battery technology will lower costs. A floor could reduce the incentive to innovate. Enforcement looks a bigger headache. Tariffs have the virtue of simplicity. Yet car prices are fluid: dealers offer discounts, and incentives such as cheap loans. And China's carmakers are already masters at bundling products to make their wares more attractive at home. BYD ( opens new tab, ( opens new tab includes its 'God's Eye' assisted driving software for all vehicles priced above 100,000 yuan (less than $10,000). Carmakers at April's Shanghai auto show touted perks such as multiple screens and built-in kitchenettes. Nio ( opens new tab owners have access to the brand's clubhouses. As such, European carmakers may still be undercut by Chinese rivals, incentivising production in China. True, Europe could impose minimum import quotas, as it did with Japan in the 1980s. Or it could set the price floor high but still impose tariffs below that level. But overall, minimum pricing may be the cost Europe must bear to maintain relations with Beijing and secure access to rare earths – meaning China would most likely be the winner. Follow @Unmack1, opens new tab on X and Katrina Hamlin on Bluesky, opens new tab and Linkedin, opens new tab
