Latest news with #lowCarbon
The Guardian
21-05-2025
- Business
- The Guardian
Global copper supply projected to fall 30% short of demand by 2035, IEA warns
Demand for copper, needed for the transition to a low-carbon world, will outstrip supply within the next decade, according to the global energy watchdog. Supplies of the metal, a key component of every form of electrical energy system at present, will fall 30% short of the amount required by 2035 if nothing is done, analysis by the International Energy Agency predicts. Fatih Birol, the executive director of the IEA, said: 'This will be a major challenge. It's time to sound the alarm.' He said developed countries should aim to do more of the refining of copper and other key metals needed for industry, and form partnerships with developing countries to do so. Critical minerals that are necessary for manufacturing solar panels and wind turbines, and transforming the global energy system, are overwhelmingly being refined in China, though they are mined in many locations, including Africa, Australia and Latin America. China processes more than 70% on average of the world's top 20 minerals needed in the energy industry, according to IEA data. Elements such as cobalt, gallium, lithium and manganese are used in the production of batteries and electrical components needed for renewable energy generation. This stranglehold is increasing, even though the prices of many critical minerals have fallen from the highs of 2021 and 2022, when the shock of the Covid pandemic created a supply crunch. The average share of the top suppliers is expected to decline only marginally over the next decade. Birol said more must be done to increase the supply of critical minerals if the world was to shift to a low-carbon economy. 'Diversification is key,' he said. 'The UK, Europe, Japan, the US, South Korea – the technology is there. Africa, Latin America have the resources. There could be international cooperation among countries.' Governments should intervene, as market forces alone would not solve the problem, he added. 'There is a need for government policies, to support new entrants [in the market],' he said. Developing these industries and trade links would diversify the global supply and could prevent bottlenecks and potential price rises, like those seen in 2021. 'If the costs go up, that would be a major, if not the most important, hurdle' to shifting to a green economy, Birol said. 'This is a major, major issue.' Copper must be a key concern, he added. It takes on average 17 years from the discovery of new deposits to the production of the metal. 'We have analysed all the copper mining, in Latin America, Africa, Australia – all the pipelines,' said Birol. '[Rising costs would] make the cost of the green transition significantly higher, and may lead to delay.' But he said that if governments took rapid action, they could reduce the projected shortfall. '[A supply crunch] is not inevitable. We can soften it if we move very fast, by putting new projects to market very fast, by recycling copper, and substituting copper with other metals such as aluminium, to alleviate the problem.' China's build-out of its electricity grids, as it moves to clean energy and the manufacturing of clean technology components such as solar panels and wind turbines, has been the biggest factor behind the sharp increase in demand for copper in recent years. The need for other critical minerals has also increased rapidly. Demand for lithium rose by nearly 30% last year. The IEA warned that any disruption to supply would be dangerous, not only for the green energy transition but also to the wider global economy. 'The impact of a critical minerals supply shock can be far-reaching, bringing higher prices for consumers and reducing industrial competitiveness,' according to the report. 'A sustained supply shock for battery metals could increase global average battery pack prices by as much as 40-50%.'
Zawya
16-05-2025
- Business
- Zawya
Oman's green energy policy to drive low-carbon shift
MUSCAT: A key policy issued by the Ministry of Energy and Minerals recently, enabling the self-generation and direct sale of electricity from renewable sources, has been described as a strategic catalyst in Oman's shift towards a low-carbon future. Eng Mohsin al Hadhrami, Under-Secretary of the Ministry of Energy and Minerals, hailed the regulation, titled 'The Policy on the Use of Renewable Energy for Self-Generation and Direct Sale of Electricity' as 'strategic stride to accelerate the transformation of the energy sector and amplify the contributions of renewable sources to the national energy mix.' In an interview featured in 'Wealth', the monthly newsletter of the Ministry, Al Hadhrami represents a bold effort by the government to further liberalise Oman's electricity market. Per this policy, eligible generators can sell output from renewable sources, chiefly solar and wind, directly to eligible consumers (typically large industrial and commercial entities), without the need to engage with the country's sole offtaker, Nama Power and Water Procurement Company. The policy outlines a regulatory framework governing the transit of electricity through the national grid, ensuring stability and operational efficiency. Mohsin al Hadhrami Importantly, the policy sets out a clear pathway for small-scale users, notably households and farms, to consider self-generation to support their individual energy requirements. Any surplus generation can be potentially monetised as well. For investors and developers, the policy unlocks the possibility of entering into direct contracts with consumers—a paradigm shift that is expected to spur innovation and give rise to new business models in the energy space. 'From an investment perspective, the policy represents a golden opportunity to attract both foreign and domestic capital, as the Sultanate of Oman offers a transparent legislative environment and robust investment incentives,' the Under-Secretary said. 'This strategic alignment is concordant with Oman Vision 2040, which sets forth targets for the generation of 30% to 40% of electricity from renewable sources by 2030, mounting to 60% to 70% by 2040. These efforts are consistent with global endeavors to reduce carbon emissions, as well as the Sultanate's own vision to increase the share of renewable energy and enhance energy efficiency by 2030.' Additionally, the policy is expected to spark a wave of industrial investments and technological investments, according to the official. It promises to open up new avenues for local enterprises in sectors such as solar panel manufacturing, energy storage, and green technology development. This local value creation is critical to Oman's broader economic diversification strategy, reducing reliance on fossil fuels while nurturing a homegrown green economy. In essence, the policy represents a strategic step towards a sustainable and low-carbon economy towards a sustainable and low-carbon economic paradigm, wherein environmental imperatives are seamlessly integrated with avenues for investment, all within the framework of an ambitious national vision that anticipates a green and prosperous future. It solidifies Oman's position as a key nexus in the future of green energy in the region and the world, he added in conclusion. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Trade Arabia
07-05-2025
- Business
- Trade Arabia
Axess expands Middle East ops with new Doha office
Axess Group has expanded its Middle East operations with the opening of a new office in Doha, Qatar. This marks its third office in the region, following the successful establishments in Dubai, UAE, and Dammam, KSA. The new office will enable Axess to strengthen its relationships with current clients in the region and form new strategic partnerships, offering a comprehensive range of asset integrity management, engineering solutions, and fabric maintenance services. Qatar, one of the world's largest oil and gas producers, aims to reduce greenhouse gas emissions by 25% by 2030 as part of its Third National Development Strategy. Axess is well-positioned to help clients lower their emissions by providing low-carbon solutions driven by digitalisation and advanced technologies. Ravi Mishra, Regional Director – Middle East at Axess Group, has played a key role in establishing and expanding the company's footprint and operations across the region. 'We have been operating in Qatar since 2019, and we are thrilled to intensify our efforts in supporting the country's growing energy landscape. In 2024, we partnered with clients such as North Oil Company, McDermott, and Gulf Drilling on local projects. Moving forward, we will leverage the local talent pool to ensure our long-term success, a strategy we implement across all entities,' Mishra said. Ricardo Freire, VP – APME at Axess Group, said: 'With a proven track record in the UAE and KSA, this strategic expansion further strengthens our position as a key player in the Middle East's energy sector. We will help our clients optimise their operations and achieve their sustainability goals. Ravi's extensive experience and effective leadership will be instrumental in driving our continued success in the Middle East.' -
