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  • Energy Policy
22 October 2019

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  • Singapore

Singapore is not in a rush to be “ahead of the curve” in adopting “newfangled technologies” said, Transport Minister Khaw Boon Wan on Monday (21 October), especially for essential sectors like public transport.

Speaking at the opening ceremony of the Intelligent Transport Systems World Congress at the Suntec Singapore Convention & Exhibition Centre, Mr Khaw said: “We take our time to understand, to clearly define the public transport problem we are trying to address before we try to assess the options… This preparatory work allows us to be able to choose wisely.”

While intelligent transport systems present compelling upsides, societies have to also be aware of the pitfalls, cautioned Mr Khaw. For example, these technologies can create a gap “between the technologically savvy and the vast majority who may not yet be technology-ready”. There are also cybersecurity concerns to look out for, such as systems being vulnerable to cyber-attacks.

Mr Khaw said in his speech that he looks beyond just the technological element. For example, in terms of politics, the core concerns are ensuring a fast, safe, reliable and affordable transport system for all, said the minister.

“It must contribute to their quality of life and this is what matters to them most,” he emphasised, adding that any intelligent transport system should be developed and deployed “wisely”.

In terms of the government’s approach, Mr Khaw says they take a “technology-neutral stance”, explaining that they will explore “a range of technology platforms before shortlisting a few promising solutions, based on hard-headed calculations.”

Even so, that doesn’t mean Singapore is remaining ignorant. Mr Khaw noted that it is important for the nation to be aware of new technologies and this may even include participating in the development of these technologies through joint research and development projects.

“Such participation allows us to influence global standards where we can and to have a more objective assessment of the state of maturity of a new technology. This allows us to better judge the timing for adoption and then to scale up wisely,” said Mr Khaw.

Highlighting examples of how this approach has worked out, Mr Khaw talked about the electronic road pricing (ERP) and certificate of entitlement (COE) system which were implemented to address increasing traffic congestion in the city-state.

Mr Khaw noted that the ERP system has evolved from police officers looking for decals on windscreens to the currently used ERP system with gantries and sensors which automatically deduct congestion charges. The next step beginning 2020 would be the gradual replacement of gantries with a satellite-based ERP system.

The other example Mr Khaw talked about was the exploration of autonomous and electric vehicles in Singapore. Though he did say that Singapore is in no hurry to be the first to adopt these machines.

Instead, Mr Khaw notes that the government is keeping tabs on the latest developments and is supporting deployment tests of autonomous vehicles in the country, like the self-driving buses and shuttles that will serve Punggol and Tengah in 2022.

He did add that he does not believe that large-scale adoption of autonomous vehicle technology is in Singapore’s near future, adding that there first needs to be new infrastructure and “enablers” like dedicated lanes to allow this technology to properly operate on the island.

In terms of electric vehicles, Mr Khaw mentioned the government collaboration with French company Bollore which aims to have 1,000 shared electric cars in Singapore and 2,000 charging points around the island. They are also working with other companies, like SP Group, to build up the charging infrastructure for electric cars.

Singapore’s history with electric cars

While that seems promising, Singapore hasn’t had a good track record with electric vehicles. Earlier this year, Tesla founder and CEO Elon Musk tweeted that the Singapore government has been unwelcome to Tesla Inc. when asked why the company’s eponymous electric car isn’t available in Singapore.

In the exchange, it was pointed out that Singapore is still reliant on fossil fuels for energy. This is a reason cited by the Land Transport Authority in a statement when they explained why the Tesla Model S is categorised in the S$15,000 surcharge band of Carbon Emissions-based Vehicle Scheme instead of qualifying for a tax break.

Mr Musk responded, “Singapore has enough area to switch to solar/battery and be energy independent”.

Separately, British tech company Dyson announced on 10 October this year that it has scrapped its project to build electric cars in Singapore.

James Dyson, founder of the company, said in an e-mail to employees that its team designed an amazing car but had to scrap the project as the electric cars were not “commercially viable”.

“The Dyson Automotive team have developed a fantastic car; they have been ingenious in their approach while remaining faithful to our philosophies. However, though we have tried very hard throughout the development process, we simply cannot make it commercially viable,” the statement read.

Dr Sanjay Kuttan of the Energy Research Institute said to Today Online in June 2018 that one of the reasons electric vehicles are not booming in Singapore is that the COE system doesn’t bother whether a new car is electric or petrol.

Dr Kuttan questioned the government’s commitment to encouraging the shift from petrol-run cars to the more eco-friendly electric cars. A lack of charging stations is only part of the problem. He said, “With the Government spending millions to encourage public transportation, how can you have policies that support private car uptake?”

When Dyson first announced plans to set up an electric car manufacturing plant in Singapore – and where the headquarters would be moved to – Minister for Trade and Industry Chan Chun Sing said in a Facebook post that Dyson’s decision “testifies to Singapore’s attractiveness as a base for investments in innovation”.

Other analysts and experts have also noted that Singapore remains an attractive investment destination despite global uncertainties.

However, Dyson’s decision to pull the plug on their project and Mr Musk’s tweets may indicate that Singapore isn’t all that attractive, at least not for electric cars.

In his speech, Mr Khaw noted that there is no one size fits all model for intelligent transport that “transcends location and time”. What works in Denmark may not work as well in Singapore, said the minister, and what works for Singapore now may not be viable in 10 years.

“The adoption of technology should be customised to each country’s needs and context,” he emphasised.

  • Others
22 October 2019

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  • Singapore

SINGAPORE – Media OutReach – 22 October 2019 – Delta, a global provider of power and thermal management solutions, showcased its unique ecosystem of intelligent and energy-efficient solutions for Industry 4.0 manufacturing, connectivity and green smart city living at the Industrial Transformation ASIA-PACIFIC (ITAP) 2019, a Hannover Messe event. Delta’s showcase highlights the benefits to customers who leverage its DIACloud platform cloud-based Industrial Internet of Things (IIoT) for remote connectivity, energy management and controls solutions for smart factory operations. Its sustainable solutions also help customers have more energy-efficient and productive businesses while enjoying safer, more connected lifestyles.

 

Mr. Jackie Chang, Vice President of Delta Electronics Southeast Asia and India, said, “Delta solutions address the needs of global mega trends and address the key issues of security, livability and efficiency that we expect in the smart city. We are also leveraging Delta Smart Manufacturing to help manufacturers across the region seize opportunities to boost their performance and meet increasing demands from their global customers.”

 

Visitors to Delta’s booth experienced smart manufacturing through exploring an interactive display of Delta’s broad portfolio of industrial automation products integrated as the DIA smart factory IoT solution. The product panel included routers, machine vision systems, drives and controls used for automated production and building operations. Visitors could even enjoy a cup of coffee prepared by Delta’s 6-axis articulated robot arm barista and a Crown Coffee machine.

 

At the smart city zone, Delta presented its IoT-based Building Management Platform that enables green buildings with smart and eco-friendly of HVAC, lighting, elevators, surveillance equipment. This comprehensive system leverages the technologies of the Delta subsidiaries LOYTEC and Delta Controls which boast compatibility with all building control open protocols including BACNet, DALI, KNX, Modbus, EnOcean, OPC and LonMark. In addition, Delta’s Vivitek projectors and Novotouch display products combine to make work and home life more efficient, comfortable and enjoyable.

 

Delta also showcased its energy infrastructure solutions that support the global mega-trends of Electric Vehicles (EV) and energy storage. The small footprint and high power of Delta’s 7.36kW AC Mini Plus EV Charger makes it a perfect choice for charging at home and work. The Li-ion battery energy storage system with Delta’s own power conditioning system and Modulon DPH500 Series uninterruptible power supply (UPS) is a backup for mission-critical commercial and industrial applications such as data centers, factories and hospitals.

 

Another key highlight at the show is an MOU signing on October 24 between Delta and JTC Corporation, a Singaporean state-owned real estate company and statutory board under the Ministry of Trade and Industry headquartered in Jurong, Singapore. The MOU will further Delta’s collaboration with JTC Corporation to accelerate Industry 4.0 adoption among SMEs and JTC customers while developing world-class industrial automation training in the country.

 

Delta welcomes visitors to its exhibition site at ITAP 2019, located at Hall 3, Stand 3A18, from October 22- 24. During the tradeshow, Delta’s industrial automation and building automation experts will give presentations and guided tours of the company’s products and solutions.

 

Delta’s Exhibition Highlights at ITAP 2019

 

Smart Manufacturing

  • Smart Factory Solutions: Combines Delta’s software systems based on IIoT and cloud platform to facilitate a 360-degree monitoring view of manufacturing and factory operations. The systems highlighted include: DIAView SCADA system for production equipment and factory facility operation data monitoring; and DIAEnergie Energy Management System for overall factory energy usage management.
  • HVAC System Solution: Fully integrates Delta’s AC motor drives to control multiple fans and pumps enhancing efficiency. It uses programmable logic controllers and human machine interfaces for system operation control and has power meters for energy consumption data monitoring and collection to create a highly efficient, energy-saving total solution for HVAC systems.
  • Robotic Arm Coffee Machine Demo: Showcases Delta’s fully automated 6-axis robot, housed on a cart, that works with a machine by smart IoT cafe Crown Coffee to make coffee five times faster than any human barista and with consistently high quality coffee. With Delta’s robot helping to make great coffee every time, baristas can focus their energy on engaging and enhancing customers’ experiences. Robotics, IOT, and AI work hand-in-hand to migrate human resources from mundane tasks to service with a unique human touch. This demo offers a glimpse the future landscape where robots and humans co-exist and complement each other to create quality customer experiences.

 

Smart City

  • Building Automation Solutions:
  1. Room Automation System: Delta Controls O3 series, including room controllers and sensors, is a human-centric intelligent sensing and control solution. The O3 Room Controller combines modular I/O with room-level integration and is a complete solution that combines HVAC, access and lighting control in a modular system. The O3 Sensor Hub provides an all-in-one sensor solution for HVAC, access, lighting, sound, and motion to deliver an enhanced occupant experience.
  2. Smart Street Lighting: In addition to providing bright, low energy lighting, Delta Smart Street Lighting Solutions combine an environment sensor, a surveillance camera, an EV charger and a display screen all on one pole. This multi-faceted solution is an asset to any private or public space. It can measure the air quality, provide the assurance of security surveillance and act as a power supply for EVs. It also shares information and data about air quality and an EV’s charging status via its display screen.
  3. Smart Surveillance: VIVOTEK’s Fisheye Camera boasts CMOS light sensor technology and 12-megapixel resolution to provide optimum video imaging quality, both with 180° or 360° degrees depending on the installation parameters. This makes it ideal for large-crowd venues requiring high security standards such as airports, shopping malls and office complexes.
  • Power Supplies
  1. Medical Industrial Power Supply: The MEG-A configurable power supply series is designed for use in both medical and industrial applications and supports up to 4 isolated outputs for maximum 1.2kW. The MEG-2K1A6 can accommodate 6 isolated outputs for maximum 2.1kW. These products can be configured for output voltages ranging from 2Vdc to 60Vdc.
  2. The CliQ VA DIN rail power supply series with LCD display: This power supply has an LCD display for output current, output voltage, peak hold current, lifetime expectancy and ambient temperature data. This high power density product is designed according to major industrial safety standards.
  3. Delta PJU open frame power supply series with integrated DC-UPS function: The PJU models will switch to battery operation (batteries not included) without any interruption in the event of power disruption or unexpected loss of AC input power.
  • Communication & Information Solutions
  1. Uninterruptible Power Supply (UPS) DPH 500: A modular three-phase UPS system which provides the ultimate MW power protection with fully rated power and industry-leading power density of 50kW in a 3U module.
  2. Lithium Battery: UBR series for UPS with DC connection, output power up to 450kW and capacity up to 62.1kWh. With double the life and simpler maintenance compared to traditional batteries, Delta’s lithium-ion battery offers users best total cost of ownership (TCO) and battery management.
  • Energy Infrastructure
  1. AC Mini Plus EV Charger: An installation-friendly EV charger with a small, simple and smart design that offers Type-1 and Type-2 charging interfaces. The charger’s IP55 and IK08 casing can adapt to indoor and outdoor environments and integrates with backend system making perfect for residential and workplace applications.
  2. PV Inverter: The state-of-the-art M20A PV inverter has up to 20kW capacity for commercial applications and boasts leading energy efficiency up to 98.3% making it suitable for both rooftop and ground-mounted PV systems.
  3. Power Conditioning System: A backbone of a microgrid that provides bi-directional energy storage inverter for grid-tied and off-grid applications including power backup, peak shaving, load shifting, PV self-consumption and PV smoothing. It demonstrates industry leading power performance with high power efficiency and low stand-by power loss.
  4. Energy Storage System: This solution leverages Delta’s lithium-ion battery technology and integrates Delta’s own power and thermal management solutions for excellent energy efficiency and reliability. The containerized solution offers MWh-level large-scale yet modular energy storage to enhance and smoothen the balance between the electricity grid and renewable energy sources.
  • Projection and Display
  1. Vivitek projectors: Delta company-Vivitek, offers a broad range of projection solutions to fulfill a wide range of personal, educational and professional applications. From pocket size projectors to large venue projectors, Vivitek’s portfolio offers robust features and innovations, such as 3D technology and is available in a range of short-throw and ultra-short-throw projectors.
  2. NovoTouch touchscreen: An interactive flat panel display solution that stretches from wireless collaboration and touch interaction to digital signage and easy management features for offices and classrooms. With a complete range of display sizes including 86″, 75″ and 65″ Ultra HD 4K (3,840 x 2,160) resolution, NovoTouch offers users outstanding details and stunning visuals screens. Its LED backlit technology enables brighter picture, longer life and lower energy cost.

About Delta

Delta, founded in 1971, is a global provider of switching power supplies and thermal management products with a thriving portfolio of smart energy-saving systems and solutions in the fields of industrial automation, building automation, telecom power, data center infrastructure, EV charging, renewable energy, energy storage and display, to nurture the development of smart manufacturing and sustainable cities.  As a world-class corporate citizen guided by its mission statement, “To provide innovative, clean and energy-efficient solutions for a better tomorrow,” Delta leverages its core competence in high-efficiency power electronics and its CSR-embedded business model to address key environmental issues, such as climate change.  Delta serves customers through its sales offices, R&D centers and manufacturing facilities spread over close to 200 locations across 5 continents.

 

Throughout its history, Delta has received various global awards and recognition for its business achievements, innovative technologies and dedication to CSR. Since 2011, Delta has been listed on the DJSI World Index of Dow Jones Sustainability™ Indices for 9 consecutive years. In 2017, Delta was selected by CDP (formerly the Carbon Disclosure Project) for its Climate Change Leadership Level for the 2nd consecutive year.

 

  • Energy Economy
22 October 2019

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  • Singapore

Singapore’s Temasek Holdings made a $2.9 billion offer for majority control of Keppel Corp. , and the sovereign-wealth fund plans to merge the shipyard with rival Sembcorp Marine Ltd. in response to consolidation in the ship construction sector in South Korea and China, people familiar with the matter said.

The move would mark the biggest action in the maritime business for Temasek, which has a $230 billion portfolio that includes shipping, airlines, real estate, energy and bank investments, since it sold Singapore flag carrier Neptune Orient Lines to French operator CMA CGM SA for $2.4 billion in 2015.

Keppel and Sembcorp Marine both specialize in building offshore rigs. That business has foundered in recent years as a surge in shale oil production in the U.S. has made it difficult for offshore oil explorers to compete.

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Temasek already owns nearly 21% of Keppel, which also counts private-equity groups BlackRock Inc. and Vanguard Group as investors. The offer made Monday at 7.35 Singapore dollars ($5.40) a share is a 26% premium to Keppel’s S$5.84 closing price last Friday and would boost Temasek’s holding to 51%.

“Offshore drilling is looking up, but it needs investment,” said a person involved in the matter, who asked not to be named because they weren’t authorized to talk to the media. “There are no decisions yet, but the plan is to look into a merger with Sembcorp Marine following extensive yard consolidation in China and Korea. But if it doesn’t work, Sembcorp Marine may be privatized.”

Other options may be examined aside from privatization, another person said.

Temasek owns 49.5% of Sembcorp Industries Ltd. , a global business including logistics warehouses, infrastructure, energy generation and utilities whose holdings include Sembcorp Marine.

Sembcorp Marine’s market value before the offer stood at around $2.1 billion and Keppel’s at $7.9 billion.

“The partial offer reflects our view that there’s inherent long-term value in Keppel’s businesses, notwithstanding the challenges presented by the current business and economic outlook,” Tan Chong Lee, president of Temasek International, said in a statement.

Temasek said it made the offer through its wholly owned subsidiary Kyanite Investment Holdings, which will undertake a comprehensive review of Keppel’s businesses and balance sheet.

Keppel last week reported third-quarter net profit of $110.7 million, a 30% decline from the same period last year.

Temasek’s move comes after Keppel and Sembcorp Marine reached long-awaited settlements with Brazilian offshore driller Sete Brasil in early October over a combined 13 rigs under construction worth billions of dollars. Sete stopped making payments on the rigs in November 2014 and filed for bankruptcy protection in 2016.

“Now the path is clear, we will look to make Keppel one of Singapore’s best performers again,” the second person close to the matter said. “If we are to compete in shipbuilding, we have to take the giants in Korea and China head on.”

China and South Korea, the world’s two biggest shipbuilders, both are in the process of merging their biggest yards. The combination of China State Shipbuilding Corp. and China Shipbuilding Industry Corp. will create a single entity with more than $110 billion in assets, and South Korea’s Hyundai Heavy Industries Co. would have more than $30 billion in assets after its takeover of Daewoo Shipbuilding & Marine Engineering Co.

  • Coal
22 October 2019

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  • ASEAN

Southeast Asia is the only region in the world where coal has a growing share in the energy mix. But according to new data from San Francisco-based non-governmental organisation Global Energy Monitor (GEM) the signs are that the coal industry is on the wane, even here.

In the first six months of this year, only Indonesia, the world’s fifth biggest producer of the fossil fuel, started to build new coal-fired power plants.

This year is shaping up to be the second in succession in which the regional coal pipeline has narrowed, with 1,500 megawatts (MW) worth of coal power being built in the first half of 2019, after only 2,744 MW entered construction in 2018.

Southeast Asia is home to three of the world’s 10 largest coal power pipelines, but the low rate of new construction suggests that much of this capacity will not be realised, GEM concluded in its report, More fizz than boom.

Coal Plant Construction Starts in Southeast Asia, 2015 to mid-2019 (MW)

Coal plant construction starts in Southeast Asia, 2015 to mid-2019 (megawatts). Image: Global Energy Monitor

Not only is the building of coal plants in decline in Southeast Asia, but the number of plants in the pre-construction stage also continues to fall, declining by 52 per cent between mid-2015 and mid-2019, according to GEM data.

With so few coal projects progressing from pre-construction to construction, if recent trends continue, the report’s authors believe that most of the 53,510 MW in pre-construction is more likely to be cancelled than be built.

Commenting on the data, Ted Nace, executive director of GEM, said that new construction is “the acid test of whether a proposed project is real or just some plans on paper”.

“To go into construction you have to get someone to commit hundreds of millions of dollars. In Southeast Asia, it looks like it’s becoming a difficult case to convince people to commit that kind of money,” he said.

Less enthusiasm for new coal in Southeast Asia is reflected in the reluctance of the region’s banks to fund new plants. In a significant 11 days for coal financing in May this year, all of Southeast Asia’s biggest three banks, Singapore’s OCBC, DBS and UOB, declared that they would stop coal funding after a period of sustained pressure from environmental groups.

Even so, DBS are still involved in a number of coal projects in the region, including the Vung Ang 2 power station in Vietnam. OCBC is the lender for the Nghi Son 2 and Van Phong 1 coal projects in Vietnam, but the bank has said that these will be the last coal projects that it funds. OCBC has confirmed that the bank is not involved in financing the Vung Ang 2 project.

The region’s banks have responded to a global shift away from coal financing, with more than 100 institutions worldwide helping to effect a 20 per cent drop in newly completed coal plants last year.

Though Indonesia stands out this year as Southeast Asia’s only big supporter of new coal, a fall in prices of the commodity prompted Indonesian president Joko Widodo to signal that the country may begin to move away from coal towards renewable energy.

“Coal power is facing something of a perfect storm,” said Christine Shearer, director of GEM’s coal programme. “Communities are rejecting it due to the high levels of pollution, renewable energy technology is undercutting it in terms of quality and cost, and financial institutions are backing away fast, making funding an increasing challenge for coal proponents.”

Burning coal for energy is the single biggest contributor to man-made greenhouse gas emissions, and yet use of the fossil fuel is predicted to double to make up 40 per cent of the energy mix in Southeast Asia—one of the world’s most climate-vulnerable regions—by 2040.

  • Others
22 October 2019

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  • Thailand

Mr. Somkid Jatusripitak, Deputy Prime Minister, on 18 October 2019, presided over the awards presentation ceremony for Thailand Energy Awards 2019, hosted by the Department of Alternative Energy Development and Efficiency (DEDE), Ministry of Energy. Among the awards, Mr. Somkid presented “Energy Support – Association, Organisation, Agency Award” to the Metropolitan Electricity Authority (MEA).

Mr. Wilas Chaloeysat, MEA Deputy Governor, acted as representative of the organisation to receive the award. He also introduced the Prime Minister and his entourage to MEA EV Application technology at the MEA booth. The ceremony was held at Bangkok International Trade & Exhibition Centre, Bangna, Bangkok.

The MEA Deputy Governor revealed that MEA is aware that the energy crisis and environmental problems are deteriorating sharply. He is also aware of the advancement of information technology that is adapting rapidly due to the demands and behaviours of energy consumers.

MEA is a state-owned entity in the energy sector under the Ministry of Interior. As such it aims to promote people to access energy conservation technology which can support daily life. With research and development, it is attempting to push for the first time electric vehicle charging stations for vehicles in 12 spots around metropolitan areas.

The MEA also hosted an academic event to showcase its potential in energy preservation, the MEA EV Application that can be used to search for charging stations and book one. It also assigns experts to present lectures on various occasions to build trust in electric vehicle innovation. It also builds networks to disseminate knowledge and information concerning alternative energy to the general public.

All this is reflected in the Energy Mind Award, MEA Energy Saving Building, Young MEA, and MEA’s use of media to educate people in alternative energy.

MEA is proud to participate in Thailand Energy Awards organised by the Department of Alternative Energy Development and Efficiency (DEDE), Ministry of Energy.

The MEA Deputy went on to say that receiving this award is a confirmation of MEA’s success as a leader in promoting energy conservation. In the future, MEA will continue to be committed as a government agency that drives modern innovation while focusing on supporting energy conservation projects and developing alternative energy to maximise the benefits to the country.

  • Electricity/Power Grid
22 October 2019

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  • Myanmar

Exclusive: A consortium led by China Energy Engineering Group (CEEC) has won the fifth emergency power project put out to tender by the Myanmar government, The Myanmar Times can reveal.

A senior source involved in the energy sector told this newspaper that Beijing-based CEEC, a state-owned energy conglomerate also known as Energy China, had been awarded the bid to set up a 120-megawatt plant in Yangon’s Ahlone township, which would use gas supplied by the government.

Another industry insider confirmed this development.

Earlier this year, CEEC finished building a 119MW gas-fired power plant in Thaton township, southern Mon State.

Attempts to contact CEEC were unsuccessful. The company’s official website has not released information about winning the Ahlone project.

The consortium includes China ITS (Holdings) Co, CEEC’s Hunan Electric Power Design Institute and Shenzhen Shennan Power Gas Turbine Engineering Technique Co and the decision to award the tender was communicated on September 2, according to Chinese media reports.

The energy ministry issued a tender for five emergency power schemes in late June with the ambitious goal of adding 1040MW in new capacity by next summer. Three larger projects – in Rakhine’s Kyaukphyu, Yangon’s Thanlyin and Thaketa – would use imported liquefied natural gas while two smaller one would use gas from the government.

As reported by The Myanmar Times, the other four projects were awarded to a consortium led by Hong Kong-listed VPower, which has close links to Chinese state enterprises CITIC and CRRC. VPower has not disclosed which company it is partnering with.

The energy ministry declined to comment on the emergency power projects, saying that the tender winners have been chosen and that details would be announced in due course.

These projects are tendered to save Myanmar, particularly Yangon, from repeating this year’s serious blackouts when the next hot season arrives, which would be some months before the country heads to the polls.

This emergency move will worsen Yangon’s already bad air pollution, observers warn, putting public health at risk.

Only around 40 percent of Myanmar’s population has access to electricity, with power currently originating from 20 gas-fired and 62 hydropower stations and one coal plant.

The country is facing a growing energy crisis. Power demand is rising by 15-16pc each year. The ministry suggested that this year’s demand has increased further to 19pc.

  • Oil & Gas
21 October 2019

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  • Vietnam

SINGAPORE / ACCESSWIRE / October 21, 2019 / Jadestone Energy Inc. (JSE.L)(JSE.L) (“Jadestone” or the “Company”), an independent oil and gas production company focused on the Asia Pacific region, announces the formal submission of the field development plan (“FDP”), for its Nam Du and U Minh gas fields, offshore southwestern Vietnam, to Vietnam Oil and Gas Group (“Petrovietnam”).

Following receipt of Petrovietnam’s endorsement, the FDP will be considered for approval by the Vietnam Government, expected to be received later this year. Approval from the Government will constitute formal development sanction for the fields.

The Company has recently achieved several project milestones leading up to the FDP submission, including:

● Submission of a formal declaration of commercial discovery for the two fields;

● Finalisation of the bidder selection process for the facilities engineering, procurement, and construction contract, culminating in a binding letter of intent being issued to the successful bidder;

● Selection of a floating production storage and offloading vessel provider, including provisions for leasing, operations, and maintenance, now approved by Petrovietnam;

● Implementation of project management plans for the execution phase of the project, including health, safety and environmental management systems, and staffing the project organisation; and

● Receipt of amended investment licences for both fields’ production sharing contracts, confirming the Company’s working interest in Block 46/07 and Block 51 is now formally registered as 100%.

As of December 31, 2017, the Nam Du and U Minh fields had gross contingent gas resources (2C) of 171.3 bcf. The Company intends to begin a reserves audit process in the coming weeks, which, in addition to details of the final gas sales and purchase agreement (“GSPA”), will establish the 2P reserves the Company will be eligible to record following development sanction and execution of the GSPA.

Paul Blakeley, President and CEO commented:

“We have made significant strides toward our proposed southwest Vietnam gas development, with all key work streams progressing as intended. This is a major growth project for Jadestone and, with the submission of our field development plan, we now have a clear line of sight toward formal development sanction which is expected to be received later this year. In the meantime, our negotiations are progressing well toward finalising a gas sales and purchase agreement in accordance with the heads of agreement signed with Petrovietnam earlier this year.

“The spirit of cooperation between Jadestone and the Vietnamese Government and regulator is strong, and we are working together to swiftly monetise this domestic resource, with targeted first production in late 2021. Nam Du and U Minh offer a material volume of gas for both Jadestone and for Vietnam and, once in production, will be used for existing installed power generation and the manufacturing of fertilisers, thereby directly contributing to Vietnam’s ongoing economic growth and development.”

– Ends –

Enquiries

Jadestone Energy Inc. +65 6324 0359 (Singapore)
Paul Blakeley, President and CEO +1 403 975 6752 (Canada)
Dan Young, CFO [email protected]
Robin Martin, Investor Relations Manager
Stifel Nicolaus Europe Limited (Nomad, Joint Broker) +44 (0) 20 7710 7600 (UK)
Callum Stewart
Nicholas Rhodes
Ashton Clanfield
BMO Capital Markets Limited (Joint Broker) +44 (0) 20 7236 1010 (UK)
Thomas Rider
Jeremy Low
Thomas Hughes
Camarco (Public Relations Advisor) + 44 (0) 203 757 4980 (UK)
Billy Clegg [email protected]
James Crothers

About Jadestone Energy Inc.

Jadestone Energy Inc. is an independent oil and gas company focused on the Asia Pacific region. It has a balanced, low risk, full cycle portfolio of development, production and exploration assets in Australia, Vietnam and the Philippines.

The Company has a 100% operated working interest in Stag and Montara, offshore Australia. Both the Stag and Montara assets include oil producing fields, with further development and exploration potential. The Company has a 100% operated working interest in two gas development blocks in Southwest Vietnam and is partnered with Total in the Philippines where it holds a 25% working interest in the SC56 exploration block.

Led by an experienced management team with a track record of delivery, who were core to the successful growth of Talisman’s business in Asia, the Company is pursuing an acquisition strategy focused on growth and creating value through identifying, acquiring, developing and operating assets throughout the Asia- Pacific region.

Jadestone Energy Inc. is currently listed on the TSXV and AIM. The Company is headquartered in Singapore. For further information on Jadestone please visit www.jadestone-energy.com.

Cautionary statements

Certain statements in this press release are forward-looking statements and information (collectively “forward-looking statements”), within the meaning of the applicable Canadian securities legislation, as well as other applicable international securities laws. The forward-looking statements contained in this press release are forward-looking and not historical facts.

Some of the forward-looking statements may be identified by statements that express, or involve discussions as to expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of phrases such as “will likely result”, “are expected to”, “will continue”, “is anticipated”, “is targeting”, “estimated”, “intend”, “plan”, “guidance”, “objective”, “projection”, “aim”, “goals”, “target”, “schedules”, and “outlook”). In particular, forward-looking statements in this press release include, but are not limited to statements regarding the timing of receiving formal development sanction of Nam Du and U Minh, timing and terms of the gas sales and purchase agreement, volume of gas to be supplied by Nam Du and U Minh, duration of the plateau production period, and targeted timing of first production from the fields.

Because actual results or outcomes could differ materially from those expressed in any forward-looking statements, investors should not place undue reliance on any such forward-looking statements. By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, which contribute to the possibility that the predicted outcomes will not occur. Some of these risks, uncertainties and other factors are similar to those faced by other oil and gas companies and some are unique to Jadestone. The forward-looking information contained in this news release speaks only as of the date hereof. The Company does not assume any obligation to publicly update the information, except as may be required pursuant to applicable laws. This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company’s obligations under Article 17 of that Regulation.

The technical information contained in this announcement has been prepared in accordance with the March 2007 guidelines endorsed by the Society of Petroleum Engineers, World Petroleum Congress, American Association of Petroleum Geologists and Society of Petroleum Evaluation Engineers Petroleum Resource Management System.

Henning Hoeyland of Jadestone Energy Inc., a Subsurface Manager with a Masters degree in Petroleum Engineering who has been involved in the energy industry for more than 17 years, has read and approved the technical disclosure in this regulatory announcement.

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014, and is disclosed in accordance with the Company’s obligations under Article 17 of those Regulations.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Glossary

contingent resources (2C) best estimate scenario of contingent resources
2P reserves sum of proved and probable reserves, denotes the best estimate scenario of reserves
bcf billion cubic feet

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

  • Coal
21 October 2019

 – 

  • Philippines

Philippine President Rodrigo Duterte has been called out multiple times for the things he says. This time, it is environmentalists standing up to the controversial head of state after he described a coal-fired power plant as “clean.”

On Tuesday, Oct. 15, Duterte led the opening celebration of the 500-megawatt coal-fired power plant of San Buenaventura Power Ltd Co. (SBPL) in Mauban, Quezon province. The plant is meant to provide additional energy supply to the Philippines and boost the government’s infrastructure program. San Buenaventura claims its power plant uses technology that significantly reduces emissions, which led the president to believe that it is clean energy.

“To our friends in the private sector, I ask you to follow the lead of San Buenaventura power by investing in the generation of clean energy,” Duterte said during the event held in Bonifacio Global City.

He also said that his administration is committed to using clean energy to drive the country’s growth.

But environmentalists were quick to point out that the plant will not actually produce clean energy.

Greenpeace campaigner Khevin Yu said in a statement that the organisation “denounces the Philippine government’s backward pro-coal policies.”

“Coal is not clean, not cheap, and not sustainable. It is unfortunate that another coal plant has been inaugurated in the country, by no less than the President who seems to have been misled or misinformed by the coal industry and its ridiculous myth of ‘clean coal’,” Yu said.

According to Greenpeace, coal has long been recognised as the “dirtiest and most carbon-intensive form of fuel for energy generation.”

Coal plants in other parts of the world are now closing after some governments banned them. It’s also an expensive source of energy.

Environmental groups are calling for a shift to wind and solar power.

Spending taxpayer’s money on coal will also aggravate the climate crisis, which already impacts Filipinos. The country is prone to intense heat waves and typhoons.

Netizens were also quick to react to Duterte’s statement and called out the president, with one saying his words were an “oxymoron.”

“Quick, someone brief him on what clean energy actually is,” another tweeted.

SBPL is a limited partnership between MGen, the power generation arm of Metro Manila’s only electric power distributor, Meralco; and New Growth BV, a wholly-owned subsidiary of Thailand’s Electricity Generating Co.

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