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Southern Energy Watch

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Introduction to monthly report

• China and United Arab Emirates launch digital economic investment cooperation

• China-Argentina double taxation avoidance agreement passed

• Russia, Saudi Arabia and United Arab Emirates will cut production

• International Energy Agency to assist energy investment in Turkmenistan

• In the next three years, Uzbekistan will put into operation an 8GW large-scale scenery project

• Iran hopes to exchange electricity with Tajikistan and other countries

• Chile plans to add lithium mine projects

• "Energy +" services will become the core competitiveness of new energy investment in the Middle East

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China and United Arab Emirates launch digital economic investment cooperation

According to the Ministry of Commerce, on February 27, the Chinese Minister of Commerce and the Minister of Economy of the United Arab Emirates co-chaired the eighth meeting of the China-United Arab Emirates Economic and Trade Joint Committee in Abu Dhabi, United Arab Emirates. The two sides exchanged in-depth views on accelerating the implementation of the important consensus reached by the two heads of state and jointly promoting the high-quality joint construction of the Belt and Road Initiative between China and Arab countries. The two sides jointly signed meeting minutes and investment cooperation documents in the digital economy.

Russia, Saudi Arabia and United Arab Emirates will cut production

CCTV Financial News, on March 3 local time, the Russian Deputy Prime Minister stated that Russia will coordinate with some "OPEC +" member states that Russia's oil production and exports will total 471,000 barrels per day in the second quarter of 2024. On the same day, Saudi Arabia News Agency reported that Saudi Arabia's voluntary production reduction measures of 1 million barrels per day since July 2023 will be extended to the end of June 2024. United Arab Emirates also announced that it would extend an additional voluntary reduction of oil production by 163,000 barrels per day to the second quarter of 2024.

Russia implements gasoline export ban, which will not affect Eurasian Economic Union member states

Xinhua Agency reported that the Russian government announced that from March 1 to August 31, 2024, the Russian government will implement a temporary ban on gasoline exports to maintain market stability during periods when factors such as spring plowing and holidays lead to increased domestic demand. The ban does not apply to supplies stipulated in international intergovernmental agreements, fuel used by individual citizens, and fuel exported to provide international humanitarian assistance. International intergovernmental agreements include agreements between Russia and member states of the Eurasian Economic Union.

Qatar company intends to participate in energy projects in Uzbekistan

Uzbekistan World News Agency reported that Uzbekistan's ambassador to Qatar met with the general manager of Qatar's leading energy company Nebras Power, Qatar's energy investment company, to discuss cooperation matters between the two countries in the energy field. Uzbekistan introduced the work of the government in introducing a free and transparent pricing mechanism, attracting foreign and private investment, and creating a healthy and healthy competitive environment, and invited the company to invest in projects in the energy field.

International Energy Agency to assist energy investment in Turkmenistan

The Turkmenistan portal reported on March 7 that the Turkmenistan ambassador to France and the executive director of the International Energy Agency (IEA) had an exchange. The IEA executive director said that the IEA will assist Turkmenistan in finding investors in the energy sector.

Iran hopes to exchange electricity with Tajikistan and other countries

Tajikistan Asia News Agency reported on March 7 that Iran's Energy Minister said that Iran has made necessary preparations for power exchanges with Tajikistan, Turkmenistan and Uzbekistan. Currently, within the scope of the unified power system in Central Asia, the power system of Uzbekistan is connected to the power systems of Kyrgyzstan and Kazakhstan. Since 2019, Tajikistan, with the support of ADB, has carried out work related to returning to a unified power system in Central Asia.

Chile plans to add lithium mine projects

Chile's "Financial Daily" reported on March 4 that the Chilean Minister of Finance said that the Chilean government plans to put into operation three to four new lithium mine projects by 2026. Chile will implement policies for the control of strategic metals such as lithium starting from 2023. Currently, there are two lithium producers in Chile, namely Arpell Company of the United States and Chilean Mining and Chemical Company. International investors are waiting for the Chilean government to launch a specific national lithium strategy and develop a lithium mining platform through public-private partnerships.

China-Argentina double taxation avoidance agreement passed

Argentina's "Clarion" reported that Argentina's Vice President and Senate President held a special meeting of the Senate on March 14 to discuss necessary emergency decrees and review and adopt double taxation avoidance agreements signed with China and Turkey respectively.

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In the next three years, Uzbekistan will put into operation an 8GW large-scale scenery project

According to the Ministry of Commerce, according to Uzbekistan media reports, the President of Uzbekistan recently stated that the country has attracted foreign direct investment of US$2.1 billion in the construction of renewable energy power stations, and a total of US$13 billion is being implemented. The country's president proposed that in the next three years, the country will put into operation 28 large solar and wind power stations with a total installed capacity of 8 GW; build 944 kilometers of high-voltage power lines and 6 large substations; and install 18 energy storage systems with a total installed capacity of 2.2 GW. According to reports, in 2024, the country will put into operation 14 power stations with a total installed capacity of 2.6 GW, expand the capacity of 5 substations, and build 500 kilometers of new high-voltage lines. In 2024, the country's power generation is expected to reach 85 billion kilowatt-hours, of which photovoltaic and wind power generation will be approximately 6 billion kilowatt-hours.

Chile's clean energy power generation accounts for more than 70%

Chile's "Three O'clock" reported on March 11 that data from the Chilean National Electricity Coordination Bureau showed that Chile's hydropower generation reached 2,465.1 gigawatt hours in January 2024, an increase of 54.3% compared with the same period in 2023, accounting for 22.6% of the total power generation increased from 22.6% to 33.4%; photovoltaic and wind power generation increased by 14.1% and 15.7% respectively year-on-year, accounting for 25.8% and 12.2% of the total power generation respectively; Thermal power generation was 2,074.1 GWh, a year-on-year decrease of 29.5%, and its share of total power generation dropped from 41.6% to 28.1%.

Chilean electric vehicle sales fell 60% in the first two months

Chile's "Courier" reported on March 13 that data from the National Automobile Association of Chile showed that from January to February 2024, Chile sold 144 electric vehicles, a year-on-year decrease of 61.5%, accounting for only 0.3% of the automobile market sales during the same period. The association believes that consumer preferences are shifting to gasoline-electric hybrid vehicles with greater combined advantages in price and energy consumption, and calls on the government to take measures to stimulate the electric vehicle market. The association proposed that based on the current trend of electric vehicle consumption, Chile is still far from reaching its goal of increasing the proportion of electric vehicle sales to 5% by 2025. Chile's Minister of Transport and Telecommunications said the government is considering introducing measures to encourage the purchase of pure electric vehicles to accelerate the low-carbon transformation of automobiles.

The International Monetary Fund predicts Argentina's 2.8% recession in 2024

According to the Ministry of Commerce, according to Argentine media reports, the Inter-American Development Bank's macroeconomic report shows that Latin America's economy will grow by 2.1% in 2023, exceeding expectations by 1.1 percentage points; it is expected to grow by 1.6% and 2% in 2024 and 2025. The report predicts an economic recession in Argentina, with the International Monetary Fund predicting a 2.8% economic recession in 2024. Data from Argentina's National Bureau of Statistics and Census shows that Argentina's inflation rate in February 2024 was 13.2%, and the cumulative inflation rate from January to February was 36.6%, a year-on-year increase of 276.2%.

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“能源+”Services will become the core competitiveness of new energy investment in the Middle East

The Middle East is one of the regions with the richest wind and solar energy resources in the world. Most countries in the Middle East have introduced renewable energy development strategies, taking energy transformation as an important measure to get rid of oil dependence and promote diversified economic development.

There is great competition in the market for renewable energy projects in the Middle East. 2019-2023 In 2009, more than 200 local and international developers and contractors responded to and participated in large-scale new energy independent power generator (IPP) projects launched in the Middle East. The threshold for winning the bid at low prices is high. ** ** By continuously participating in projects and continuously optimizing implementation plans, those with competitive advantages further reduce the winning bid price on the basis of ensuring quality and construction period. The cost pressure on latecomers is increasing. Project execution standards are strict. During the project bidding stage, the owner clearly requires the adoption of European and American standards, and some propose to add localized requirements for corresponding regional culture, ethnicity, religion, and customs; during the project implementation stage, almost all European and American designers and supervisors are used, strictly in accordance with European and American technical standards and contract execution.

The Middle East has unique conditions for developing new energy and will become a "granary" of global green energy in the future. Chinese-funded power companies must seize the development opportunities of energy transformation in the Middle East, actively respond to challenges, and seize a new track for the development of new energy industries.

Chinese-funded enterprises must take good precautions against risks. In the current international market situation full of uncertainty,"going global" companies need to operate steadily, scale appropriately, risks controllable, and benefit guaranteed. They should not have contracts without income, income without profit, or cash flow. Profits. This requires market operators to enhance their risk assessment and resolution capabilities, strengthen the risk assessment mechanism during the bidding stage; make full use of the company's integrated marketing and performance platform to improve project performance supervision methods; discover major abnormalities as soon as possible, accurately identify performance risks, and take effective measures as soon as possible.

Give full play to the advantages of the entire industry chain. Enterprises must continuously improve the competitiveness of new energy engineering general contracting (EPC) bidding projects or cooperate with developers IPP bidding projects to consolidate market opportunities; actively and steadily seize investment opportunities in emerging fields, high-quality countries, and high-quality core main business projects, and seize high-quality project resources; Use their own EPC management and control advantages to cooperate with investors to transform from a contractor to an integrated service provider of "investment, construction and operation".

Improve cross-border service capabilities. More and more new energy projects in the Middle East require contractors to provide cross-industry service capabilities. The mutual integration and cross-border development of energy and transportation, chemicals, municipal administration, environmental protection and other industries will become a major trend. In the future, the core competitiveness of investing in new energy projects will be tilted towards comprehensive service capabilities. New energy companies should strengthen communication with industries related to low-carbon transformation, pay attention to key objects of comprehensive energy services such as industrial parks and public buildings, actively create integrated energy service capabilities, and customize "electricity to X" solutions for owners.

Excerpted from "Prospects for Clean Energy Development in the Middle East"