In an interview with Eco-Business, CEO Meg O'Neill says Woodside will have to engage investors on natural gas decarbonisation and decide if doing so is "the most effective use of shareholder capital". Australia has been under fire for backing gas drilling despite its 2050 net zero goal.
Cirebon 1’s financial advisor says the model "might not be replicable" nationwide as grid stability costs were overlooked early on and transition credits – being trialled in the Philippines – may not apply. Updates on the pending transaction are expected at COP29.
At COP29, the city-state unveiled a third investment theme to decarbonise hard-to-abate sectors under its national blended finance scheme and pledged to match partner concessional capital dollar-for-dollar.
As declining oil output increases reliance on on foreign supply, the region’s oil import bill could exceed US$200 billion by 2050, posing major economic and energy security risks without a faster renewables shift, says the global energy authority.