etasca

Kazakhstan is the largest country in Central Asia whereas Uzbekistan holds the flag for the most populated. Our etasca team visited the region not for the annual Nomad Games to wrestle on horseback (though they did think about it) but instead to visit Astana, the capital of Kazakhstan. etasca attended the Globuc Hydrogen & Downstream conference to discuss the many opportunities that lie within these two great nations as they face the energy transition. Here's eight things we learned: 1️⃣ There are currently two major hydrogen projects in Central Asia: Hyrasia One in Kazakhstan (a mere 20 GW of electrolysis, 2 million tons of green hydrogen annually) and ACWA Power’s project in Uzbekistan (3 000 tons of hydrogen and 500 000 tons of green ammonia annually, powered by 2.4 GW wind energy). Both are advancing—one in FEED, the other starting groundwork. 2️⃣ Uzbekistan is integrating large-scale battery storage to ensure grid reliability, with several projects like the 63 MW BESS paired with Masdar's 250 MW solar plant. 3️⃣ Kazakhstan and Uzbekistan face decarbonisation challenges from their oil and gas sectors, but companies like Baker Hughes, Technip Energies, and Honeywell are optimizing technologies for capex and opex savings, with a focus on hydrogen and CO2 capture. Alisher Bakhadirov noted Uzbekistan's Gas to Liquids project which is producing synthetic fuels to reduce imports and emissions. 4️⃣ Kazakhstan faces challenges accessing its own feedstocks, with pressure on Qazakgas and KazMunayGas to prioritize domestic gas supply over exports. Zhandos Jilkaidarov highlighted ongoing investments in gas processing and downstream. 5️⃣ On hand to support investments in downstream and renewables were KAZAKH INVEST (Azamat Kozhanov), Samruk-Kazyna Ondeu, Development Bank of Kazakhstan (Erlan Ibraev), and Project Finance Advisor (Dmitry Artemyev, CFA). ECOJER Association (Rustem Kabzhanov) and Qazaq Green Association (Ainur Sospanova) shared insights on decarbonisation efforts. 6️⃣ The Asian Infrastructure Investment Bank (AIIB) is a prominent partner to Kazakhstan's energy transition, backing projects like the Zhanatas and Shokpar Wind Farms (each 100 MW) to reduce carbon emissions. Kazakhstan aims for 15% renewable energy by 2030, 50% by 2050, and carbon neutrality by 2060. 7️⃣ Masdar (Abu Dhabi Future Energy Company) has been an important partner in Uzbekistan's energy transition. Key projects include the 100 MW Nur Navoi Solar and the 500 MW Zarafshan wind farm. 8️⃣ We finished off the interesting week by visiting with friends the Expo Center, Astana, with a fabulous exhibition about renewable energy, including wind, solar, hydro, and biomass, including how they use energy on the international space center, where we learnt that every 92 minutes astronauts experience a sunset or sunrise! Thank you to Elmira Gabidullina, Arina Gnutova and the rest of the Globuc team for hosting the insightful event. 👉 Follow etasca to learn more

Kazakhstan is the largest country in Central Asia whereas Uzbekistan holds the flag for the most populated. Our etasca team visited the region not for the annual Nomad Games to wrestle on horseback (though they did think about it) but instead to visit Astana, the capital of Kazakhstan. etasca attended the Globuc Hydrogen & Downstream conference to discuss the many opportunities that lie within these two great nations as they face the energy transition. Here's eight things we learned: 1️⃣ There are currently two major hydrogen projects in Central Asia: Hyrasia One in Kazakhstan (a mere 20 GW of electrolysis, 2 million tons of green hydrogen annually) and ACWA Power’s project in Uzbekistan (3 000 tons of hydrogen and 500 000 tons of green ammonia annually, powered by 2.4 GW wind energy). Both are advancing—one in FEED, the other starting groundwork. 2️⃣ Uzbekistan is integrating large-scale battery storage to ensure grid reliability, with several projects like the 63 MW BESS paired with Masdar's 250 MW solar plant. 3️⃣ Kazakhstan and Uzbekistan face decarbonisation challenges from their oil and gas sectors, but companies like Baker Hughes, Technip Energies, and Honeywell are optimizing technologies for capex and opex savings, with a focus on hydrogen and CO2 capture. Alisher Bakhadirov noted Uzbekistan's Gas to Liquids project which is producing synthetic fuels to reduce imports and emissions. 4️⃣ Kazakhstan faces challenges accessing its own feedstocks, with pressure on Qazakgas and KazMunayGas to prioritize domestic gas supply over exports. Zhandos Jilkaidarov highlighted ongoing investments in gas processing and downstream. 5️⃣ On hand to support investments in downstream and renewables were KAZAKH INVEST (Azamat Kozhanov), Samruk-Kazyna Ondeu, Development Bank of Kazakhstan (Erlan Ibraev), and Project Finance Advisor (Dmitry Artemyev, CFA). ECOJER Association (Rustem Kabzhanov) and Qazaq Green Association (Ainur Sospanova) shared insights on decarbonisation efforts. 6️⃣ The Asian Infrastructure Investment Bank (AIIB) is a prominent partner to Kazakhstan's energy transition, backing projects like the Zhanatas and Shokpar Wind Farms (each 100 MW) to reduce carbon emissions. Kazakhstan aims for 15% renewable energy by 2030, 50% by 2050, and carbon neutrality by 2060. 7️⃣ Masdar (Abu Dhabi Future Energy Company) has been an important partner in Uzbekistan's energy transition. Key projects include the 100 MW Nur Navoi Solar and the 500 MW Zarafshan wind farm. 8️⃣ We finished off the interesting week by visiting with friends the Expo Center, Astana, with a fabulous exhibition about renewable energy, including wind, solar, hydro, and biomass, including how they use energy on the international space center, where we learnt that every 92 minutes astronauts experience a sunset or sunrise! Thank you to Elmira Gabidullina, Arina Gnutova and the rest of the Globuc team for hosting the insightful event. 👉 Follow etasca to learn more

🎱 etasca’s 8 🎱 – Weekly Roundup 1️⃣ The UK is set to close its last remaining coal-fired power plant, Ratcliffe-on-Soar in Nottinghamshire, on September 30, 2024, marking the end of coal power in the country. The 2 000 MW plant, owned by Uniper, has been operational since 1967 and can power around 2 million homes. The closure makes the UK the first G7 nation to phase out coal power. 2️⃣ Mitsui & Co., Ltd., through its subsidiary Clean Energy US, has invested in HIF Global, a developer of e-fuels like e-methanol for decarbonizing shipping. HIF Global plans to produce 4 million tons of synthetic fuel annually from green hydrogen and CO2 in the U.S., Chile, Uruguay, and Australia, starting with e-gasoline and e-methanol, with future plans for e-SAF and synthetic chemicals. 3️⃣ TotalEnergies, Equinor, and Shell have completed the CO2 receiving and storage facilities of the Northern Lights Joint Venture in Norway. The facility includes a 100 km subsea pipeline with the capacity to store 1.5 Mt of CO2 annually, the project is expected to begin CO2 injection in 2025. 4️⃣ Masdar (Abu Dhabi Future Energy Company), the UAE’s clean energy leader, has announced its $1.4 billion acquisition of Saeta Yield from Brookfield Renewable. The deal includes a portfolio of 745MW of wind assets—538MW in Spain, 144MW in Portugal, and 63MW of solar PV in Spain—as well as a 1.6GW development pipeline. 5️⃣ Oil prices dropped over 3% on Thursday, with Brent at $71.60 and U.S. West Texas Intermediate at $67.67 per barrel. The decline followed reports of Saudi Arabia planning to increase production, with OPEC+ adding 180,000 barrels per day from December. Analysts warn this could reduce OPEC’s spare capacity and pressure prices further, despite weak demand in China and rising U.S. supply. 6️⃣ Air France-KLM Group and TotalEnergies have expanded their partnership to accelerate SAF adoption, with TotalEnergies agreeing to supply up to 1.5 million tons of SAF over 10 years. The SAF will be produced from waste and residues at TotalEnergies’ refineries in France and Europe. 7️⃣ ECL, a data center firm, has announced an $8 billion project to build a 1GW hydrogen-powered off-grid facility in Texas, which could scale to 2GW based on demand. The site will run on 50% grey hydrogen and 50% blue hydrogen starting in summer 2025, with plans to shift to 80% blue hydrogen and 20% renewable hydrogen by 2026. 8️⃣ HIF Global has announced a major e-methanol project at the Port of Açu, Brazil, requiring 1.6GW of electrolysers to produce up to 800 000 tonnes of e-methanol annually from 160 000 tonnes of green hydrogen and 1 million tonnes of captured CO2.

Chopin has nothing to do with the energy transition. The great pianist, known for the complexity of his compositions, was raised in Warsaw before moving to Paris to seek his artistic fortune. Famously, after his death, his heart was smuggled out of Paris (drenched in Cognac) and returned to his beloved hometown, the Polish capital. Today, it wasn't the technical challenge of Chopin's preludes or polonaises being discussed, but the challenge of the energy transition in Poland. Here's eight things we learned discussing with delegates at the #IDW2020 in wonderful Warsaw. 1️⃣ Grupa Azoty S.A.'s recent Polimery Police project is now one of the largest chemical investment projects in Europe, with the construction of PDH and PP plants producing 437ktpa. The project has been developed using state-of-the-art technology for production flexibility, low raw material consumption and minimal energy usage. 2️⃣ The conflict in Ukraine heightened Poland's energy security concerns, prompting actions to reduce reliance on Russian energy imports. The completion of the Baltic Pipe project in 2022 allows Poland to import up to 10 billion cubic metres of natural gas annually from Norway. 3️⃣ Poland is advancing biofuel production to reduce fossil fuel dependence, producing 1.5 million tons in 2022. ORLEN S.A.has its Trzebinia biodiesel plant and Jedlicze facility for waste-based biofuels and Bioagra operates the Goświnowice bioethanol plant. The government aims for a 14% renewable energy share in transport by 2030 through biofuel blending mandates. 4️⃣ Poland has emerged as a key player in Europe's battery industry. With companies like LG Energy Solution operating large manufacturing plants. Poland became the largest producer of lithium-ion batteries in Europe in 2023, supplying batteries for EVs and energy storage systems. 5️⃣ Poland is advancing its green fertiliser initiatives. Energy Group and Hynfra have plans to produce green hydrogen, ammonia, and methanol. All at an estimated cost is over €22 billion! 6️⃣ The Lotos refinery in Gdańsk is set to produce high-quality lubricating base oils by 2025, with the Hydrocracked Base Oil (HBO) facility now in the execution phase.  Rafineria Gdańska Sp. z o.o. is one of the most energy-efficient refineries in Europe from its recent championing of improvements. 7️⃣ Poland is advancing its green hydrogen infrastructure with several key projects. The Central Hydrogen Valley (CHV) has an ambitious plan to develop 250 MW of electrolysers and 2 GW of renewable energy by 2030, producing 54 ktpa of green hydrogen. 8️⃣ How do we hire people into this industry? Ralf Schairer had the take-away phrase of the morning. 'Hire for attitude, train for skills'. Especially important in this industry that is constantly evolving. Thank you to all the contributors and speakers at the #IDW2020 and a special thanks to the Euro Petroleum Consultants team for producing a great first day!

Chopin has nothing to do with the energy transition. The great pianist, known for the complexity of his compositions, was raised in Warsaw before moving to Paris to seek his artistic fortune. Famously, after his death, his heart was smuggled out of Paris (drenched in Cognac) and returned to his beloved hometown, the Polish capital. Today, it wasn't the technical challenge of Chopin's preludes or polonaises being discussed, but the challenge of the energy transition in Poland. Here's eight things we learned discussing with delegates at the #IDW2020 in wonderful Warsaw. 1️⃣ Grupa Azoty S.A.'s recent Polimery Police project is now one of the largest chemical investment projects in Europe, with the construction of PDH and PP plants producing 437ktpa. The project has been developed using state-of-the-art technology for production flexibility, low raw material consumption and minimal energy usage. 2️⃣ The conflict in Ukraine heightened Poland's energy security concerns, prompting actions to reduce reliance on Russian energy imports. The completion of the Baltic Pipe project in 2022 allows Poland to import up to 10 billion cubic metres of natural gas annually from Norway. 3️⃣ Poland is advancing biofuel production to reduce fossil fuel dependence, producing 1.5 million tons in 2022. ORLEN S.A.has its Trzebinia biodiesel plant and Jedlicze facility for waste-based biofuels and Bioagra operates the Goświnowice bioethanol plant. The government aims for a 14% renewable energy share in transport by 2030 through biofuel blending mandates. 4️⃣ Poland has emerged as a key player in Europe's battery industry. With companies like LG Energy Solution operating large manufacturing plants. Poland became the largest producer of lithium-ion batteries in Europe in 2023, supplying batteries for EVs and energy storage systems. 5️⃣ Poland is advancing its green fertiliser initiatives. Energy Group and Hynfra have plans to produce green hydrogen, ammonia, and methanol. All at an estimated cost is over €22 billion! 6️⃣ The Lotos refinery in Gdańsk is set to produce high-quality lubricating base oils by 2025, with the Hydrocracked Base Oil (HBO) facility now in the execution phase.  Rafineria Gdańska Sp. z o.o. is one of the most energy-efficient refineries in Europe from its recent championing of improvements. 7️⃣ Poland is advancing its green hydrogen infrastructure with several key projects. The Central Hydrogen Valley (CHV) has an ambitious plan to develop 250 MW of electrolysers and 2 GW of renewable energy by 2030, producing 54 ktpa of green hydrogen. 8️⃣ How do we hire people into this industry? Ralf Schairer had the take-away phrase of the morning. 'Hire for attitude, train for skills'. Especially important in this industry that is constantly evolving. Thank you to all the contributors and speakers at the #IDW2020 and a special thanks to the Euro Petroleum Consultants team for producing a great first day!

This week etasca visited the United Arab Emirates. The nation's capital is named 'Father (Abu) of the Gazelle (Dhabi)' after the Sheikh who tracked down a spring used by gazelles in the area.     However, it wasn't the pace of the gazelle (required to outrun the Arabian wolf) but the pace of the energy transition that the etasca team were discussing during the World Utilities Congress hosted by TAQA Group. Here are eight things we learned: 1️⃣ Bruce Smith, Executive Director of EWEC, highlighted that with declining battery costs, the company is rapidly expanding its energy projects. Traditionally managing 2-3 projects annually, EWEC is now overseeing more than 16 to meet Abu Dhabi's 2035 clean energy target by leveraging solar power and Battery Energy Storage Systems (BESS). The aim is to achieve 60% clean energy in Abu Dhabi's grid by 2030. 2️⃣ Mitesh Modi from Levidian, a British company specialising in the conversion of methane into carbon and hydrogen, explained their innovative technology called the Levidian LOOP system. This system uses plasma technology to break down methane (CH₄) into hydrogen and graphene, offering a sustainable solution for industries applications. 3️⃣ TAQA CEO announced the merger of ADDC (Abu Dhabi Distribution Company) and Al Ain Distribution Company (AADC) under TAQA distribution. To fund green projects like the 30 MW Sharjah Waste-to-Energy Plant and the 2 GW Al Dhafra Solar PV Project, he explained that TAQA issued its first green bond, 1.5bn, in April 2023. 4️⃣ EWEC CEO Othman Al Ali, Masdar (Abu Dhabi Future Energy Company) CEO Mohamed Jameel Al Ramahi, and representatives from EDF Renewables and Korea Western Power Co., Ltd. announced the financial closure of the 1.5 GW Al Ajban solar project in Abu Dhabi. 5️⃣ H.E. Suhail bin Mohamed Al Mazrouei, UAE Minister of Energy & Infrastructure, emphasized the growing demand for energy and water, highlighting the need for sustainable scaling and emissions control to meet Net Zero targets. . 6️⃣ Tabreed, a UAE-based district cooling provider, CEO Khalid Abdulla Al Marzooqi announced that the company is exploring geothermal cooling projects for data centres, building on a successful pilot at Masdar City. 7️⃣ Electrolytic Technologies Systems, a Florida-based company, highlighted their Klorigen™ technology, which produces chlorine gas, sodium hydroxide, and hydrogen through brine electrolysis. 8️⃣ Ajendra Singh from GAS LAB Asia explained their neutral biogas enrichment solutions, using Advanced Amines, PSA, and Water Absorption for optimised Bio-CNG production. 👉 Follow etasca to learn more about what we do.   FYI - The arabian gazelle is classified as vulnerable by the IUCN. Read more about HH Sheikh Mohamed bin Zayed Al Nahyan's protected area network here - (ead.gov.ae)

We met with etasca, commercial and technical experts in the energy transition space, to consider the development of P2X facilities and their role in the transition to net zero. Read about our thoughts here:

I'm looking forward to moderating the key note panel at the #IDWConference in Warsaw next week. We will be discussing how the industry is adapting to the energy transition including themes such as: 💼 Proving the business case for hydrogen and clean fuels 💡 What are the latest innovations to increase renewable fuels productions ⏱ What strategies should be adopted to meet regulatory requirements 💶 Where should the industry focus its investments On the key note panel I will be joined by: Ralf Schairer, Andrzej Dawidowski and Szymon Walkowski Also looking forward to hearing from many of the distinguished speakers including Walter Pfeiffer, Jose de Barros, Romain Bauret, Goutam Biswas, Laura Lancia, Thorbjörn Holm, Xavier Llorente Pérez, Giuseppe Mosca, Sanjay Lodha, Anton Korobeynikov, Deniz Keleş, Nicolas AUBIN, Jean-Gaël Le Floc'h, Ivan Stranovský, Sofrone Iuliana, Davide Sebastiano Lupica, Paulina Cieślińska, Orkhan Aliyev, MSc, Dr Daria Frączak, Friedemann Rohr, Katalin Nádas, Agnieszka Lyczak - Szymczyk, Amitabha Sinha, Anja Farstad, Adam Kościelniak, Ujjal Mukherjee, John Young, Matthias Schmid, Doroteja Novosel, Francisco Vieira, Mateusz Kozak, Liza Lindmark, Przemek Szuder, Mike McBride, Muhammad Jamal Khan, Rui de Menezes, Ufuk Ercis, Maria del Rosario Badenas, Vernon Avidi among many others! #IDWConference 👉 Follow etasca to learn more about what we do.

🎱 etasca’s 8 🎱 – Weekly Roundup 1️⃣ Swedish steel startup Stegra, has received €100m of a €265m state aid package from the Swedish government, alongside €250m from the EU Innovation Fund. Its €6.5bn green steel plant in Boden, Sweden, will use 700MW of electrolysers for hydrogen-based steel production and produce 2.5 million tons by 2026. 2️⃣ Canada's CCS sector has gained momentum following the finalization of investment tax credits (ITCs), despite ongoing concerns about carbon price uncertainty. Bill C-59, which received royal assent in June, introduces ITCs that cover 50% of capture equipment costs and 38% of transportation and storage equipment expenditures between 2022 and 2030, with reduced rates through 2040. 3️⃣ The UK Prime Minister, Keir Starmer, has said that his Government is not sleepwalking into industrial devastation with the news that the Petroineos refinery will close next year.  Meanwhile. the local MP, Brian Leishman, has stated that the refinery should be nationalised. The UK and Scottish governments have announced a joint plan to secure the future of Grangemouth outlined in three potential paths for the site: hydrogen, efuels, and SAF production. 4️⃣ Formula 1 has made its first investment in SAF as part of its commitment to achieving Net Zero by 2030. SAF will be used through a ‘book and claim’ system for F1’s cargo flights, starting with the 2024 season. Partnering with DHL, F1 has also reduced European logistics emissions by 83% using biofuel-powered trucks. 5️⃣ SSE plc and EET Hydrogen have partnered to develop Gowy Green Hydrogen, a new green hydrogen production facility in Ellesmere Port, Cheshire. The project, aims to deliver 40MWe of hydrogen to industrial offtakers, helping them decarbonize operations. Gowy Green Hydrogen could be operational by 2028. 6️⃣ The Asian Development Bank (ADB) has approved a $500 million loan to accelerate Indonesia’s transition to net zero emissions by 2050. Part of the Affordable and Sustainable Energy Transition Program, co-financed by Agence Française de Développement and KfW, the loan will support regulatory reforms, renewable energy expansion, and governance improvements. 7️⃣ A BloombergNEF (BNEF) report predicts Chinese electrolyser manufacturers could dominate Western markets by 2040 if free trade persists. While US and European equipment remains more efficient, Chinese options are rapidly improving. Free trade could halve capex for both Chinese and Western green hydrogen projects by 2050, but if trade barriers are imposed, Western projects may face a ca 50% increase in capex due to restricted access to cheaper Chinese electrolysis equipment. 8️⃣ RWE has signed an MoU to purchase 250 000 tonnes of green hydrogen-based ammonia annually from AM Green Group in India, starting in 2027. AM Green’s 1.3GW green hydrogen and ammonia plant in Kakinada, set to start production in 2026, will supply 50 000 tonnes, with the rest coming from a planned 4.5GW facility in Tuticorin.

Delighted to announce that etasca's Emma McFarlane will be attending both the Globuc Hydrogen Business Summit and the Downstream Central Asia & Caspian conference in Astana, Kazakhstan, Radisson Hotel, next week on 18-19 September 2024 The region is investing heavily in the energy transition including projects in hydrogen, SAF and biofuels. All of this is being done while investment continues in its traditional energy and chemical industries. Please reach out to McFarlane Emma if you are attending or you wish to discuss project finance, market, technical, or strategy support for the petrochemical, fertiliser, and energy industries. Our team members have experience in successfully facilitating financing of billions of USD, including projects in the Caspian region. Please follow etasca on LinkedIn to learn more. For more details about the conference, please contact the Globuc team Elmira Gabidullina and Arina Gnutova. Looking forward to hearing from speakers including Azamat Kozhanov, Daulet Zhakupov, Hammad Masood, CEng, MBA, Sergey Yelkin, Manuel Andresh, Dinara Issabekova, Radmir Islakaev, Marco Castagnini, Dmitry Artemyev, CFA, Daniel Jordan, Aliya Shalabekova, Alisher Bakhadirov, Sanjay Lodha, Alexandra Bekisheva, Timothy Carmann, Anastasia Trukhina, Marco Verna amongst many others!