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Asia Pacific news Regional update
The COVID-19 situation is still pretty much the same across the Asia Pacific region with most countries facing a new onslaught of infections. Azman Malaysia is one of the Nasir countries within ASEAN with double digit fatalities and almost 10,000 new cases daily which resulted in the government having to declare a total lockdown effective from 1 June 2021. Apart from Malaysia, other APAC countries including Vietnam, Cambodia, Laos, Taiwan, Singapore and Thailand are also registering significant increases of daily cases compared to earlier in the year. Vaccination programmes are underway in most countries with Singapore and Taiwan leading in terms of the number of people having been vaccinated. Travelling within the region and to and from the region is very much still restricted as countries are wary of opening their borders in the fear of potential new waves of COVID-19 spread. In June, the focus of the APAC office in Kuala Lumpur was more in finalising the speaking sessions for the virtual Energy Exports Conference 2021 which was held on 14-17 June 2021. EIC APAC managed a total of eight speaking sessions featuring key industry players from Taiwan, Japan, Australia, India, Malaysia, Sri Lanka and Thailand. Among the speaking companies that participated were Petronas, Shell, Malaysia Marine Heavy Industries (MMHE), Hyundai Corporation, Essem Corporation, Western Australia Government Office, GAIL India, AG&P India, Larsen & Toubro, Sapura Taiwan and the Director General of Petroleum Sri Lanka. The APAC office has recently seen an increase of new members in the region with a current total of 60 companies. Due to this increase we will be organising regular engagement sessions with the new members and will be featuring some of them in virtual webinars. These sessions will be a good opportunity for EIC members in other regions to get to know these companies and possibly strike some new relationships and tie-ups in pursuing business opportunities in the ASEAN region. In light of current restrictions in travel which is looking likely to continue for some time yet, webinars like these should be helpful for UK and international companies to meet regional companies virtually. There are also opportunities for a number of oneto-one networking sessions after the webinars. We are happy to announce the arrival of our new Events & Office Co-ordinator, Akmal Zainol, who will be assisting the events manager for APAC. Azman Nasir, Head of Asia Pacific azman.nasir@the-eic.com Sign up for the EICOnline newsletter
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Regional news
Woodside planning to bring large-scale solar project to Pluto LNG Woodside Petroleum plans to develop a 50MW solar power plant in Western Australia that could provide power for its Pluto liquefied natural gas (LNG) facility. The company has also partnered up with Perdaman to evaluate supplying a further 50MW of solar power from the solar project to Perdaman’s proposed urea facility, which would reduce its fuel gas consumption by about 50% while reduce emissions by at least 200,000 tonnes of CO2-equivalent per year, over 20 years. This would also allow the increase of ammonia production which produces zero emissions at the point of use. The proposed Woodside power project would feature about 210,000 solar panels which would make it one of the largest solar projects in Western Australia.
CNPC plans US$1.5bn investment vehicle for lowcarbon initiatives China’s national oil company China National Petroleum Corporation (CNPC) and two other stakeholders plan to establish a new investment vehicle, CNPC Kunlun Capital, to support the country’s peak emissions and carbon neutrality targets. The new company will be a joint venture between CNPC, its listed arm PetroChina and CNPC’s capital firm with a respective 51%, 29% and 21% stake. CNPC Kunlun Capital will have a registered capital of US$1.55bn and it will take the role of industry investment, focusing on lowcarbon business as well as other strategic emerging industries. All three companies will inject the full funds into the new company within three years.
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