Here’s what you need to know as Tadawul wraps up the trading week

NRG Matters: Japan stops financing coal projects; Qatar wants EU countries to sign long-term LNG deals

RIYADH: On a macro level, Japan will end financing key coal power plant projects in Bangladesh and Indonesia as it seeks withdrawal from fossil fuels, while Qatar plans to ask EU countries to sign long-term liquified natural gas deals.

Zooming in,  the Saudi Electricity Co. has secured two ISO certificates for information technology service management and information security management.

Looking at the bigger picture:

Japan will end financing key coal power plant projects in Bangladesh and Indonesia amid global efforts that aim to accelerate withdrawal from fossil fuels, Bloomberg reported.

The country will stop the government-backed yen loans to the Matarbari 2 coal expansion project in Bangladesh and the Indramayu plant in Indonesia.

• Qatar plans to demand EU countries to sign long-term liquefied natural gas contracts, while they need a shorter duration as they seek to cut emissions.

The move will complicate the EU’s pollution reduction goals and the bloc’s plan to reduce dependence on Russian fuel, Bloomberg reported.

Through a micro lens:

• Munich-based Siemens Energy has formed a joint venture with Air Liquide to produce industrial scale renewable hydrogen electrolyzers in Europe.

With production expected to start in the second half of 2023, the Franco-German partnership will enable the emergence of a sustainable hydrogen economy in Europe, Trade Arabia reported.

The project’s annual capacity will reach 3 GW by 2025.

• The Saudi Electricity Co. has secured two ISO certificates from the total quality assurance provider Intertek for complying with international standards for Information Technology Service Management and Information Security Management.




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