MELBOURNE: A Japanese-Australian venture producing hydrogen from brown coal is set to start loading its maiden cargo on the world’s first liquid hydrogen carrier on Friday, in a test delayed by nearly a year because of the COVID-19 pandemic.
The Suiso Frontier, built by Japan’s Kawasaki Heavy Industries (KHI), arrived Australia this week from Kobe, following a longer trip than the expected 16 days as the ship dodged bad weather and rough seas, said a spokesperson for the Hydrogen Energy Supply Chain (HESC) venture. The ship is scheduled to head back to Japan in about a week.
Led by KHI, HESC is a A$500 million ($360 million) coal-to-hydrogen project backed by Japan and Australia as a way to switch to cleaner energy and cut carbon emissions.
Hydrogen, seen as a path to decarbonizing industries that rely on coal, gas and oil, is key to Japan’s goal to achieving net-zero emissions by 2050. Australia aims to become a major exporter of the fuel.
The Australian government on Friday committed a further A$7.5 million for HESC’s A$184 million pre-commercialization phase, and A$20 million for testing a capture and storage project for carbon dioxide released in the coal-to-hydrogen process to create a carbon neutral product.
Last year, HESC started extracting 70 kg of hydrogen a day from brown coal in the Latrobe Valley, about 135 km (84 miles) east of Melbourne, where brown coal mines have long fueled some of Australia’s most polluting power stations.
The hydrogen is produced by reacting coal with oxygen and steam under high heat and pressure. It is then trucked to a port site where it is cooled to minus 253 degrees Celsius (minus 423 Fahrenheit), liquefying it for export.
The partners are looking to produce up to 225,000 tons of hydrogen a year.
They will need to make a final investment decision by 2025, with Australia racing against countries in the Middle East and elsewhere to produce carbon neutral hydrogen, said Jeremy Stone, a director of J-Power, one of the HESC partners.
Partners in the project include Japan’s Electric Power Development Co, Iwatani Corp, Marubeni Corp., Sumitomo Corp. and Australia’s AGL Energy Ltd., whose mine is supplying the brown coal.
World’s first hydrogen tanker to ship test cargo to Japan from Australia
https://arab.news/zfm3v
World’s first hydrogen tanker to ship test cargo to Japan from Australia
- The hydrogen is cooled to minus 253 degrees Celsius (minus 423 Fahrenheit), liquefying it for export
Uzbekistan keen to collaborate with Saudi Arabia on environmental protections: top official
RIYADH: Uzbekistan’s cooperation with Saudi Arabia on ecology and environmental protection is steadily progressing, with the Central Asian nation aiming to deepen this partnership through the exchange of knowledge and innovation, a top official said.
Speaking to Arab News on the sidelines of the Tashkent International Investment Forum, Uzbekistan’s Minister of Ecology, Environmental Protection and Climate Change Aziz Abdukhakimov said that the country wishes to collaborate with the Kingdom to develop effective solutions to issues including dust and sand storms.
Saudi Arabia is spearheading climate action efforts across the Middle East, with ambitions to plant 10 billion trees, rehabilitate 40 million hectares of degraded land, and reduce carbon emissions by more than 278 million tonnes per year.
“Our cooperation with the Kingdom of Saudi Arabia in the fields of ecology and environmental protection is dynamic and multifaceted. Through the Intergovernmental Commission between our two countries, we regularly exchange views on the current state and future prospects of collaboration between our environmental agencies,” said Abdukhakimov.
He added: “We plan to foster collaboration between our national parks and protected natural areas. Saudi Arabia has more than 70 such areas, covering about 18 percent of its territory.”
The minister further said that such collaborations will allow the exchange of expertise in preserving unique ecosystems and rare species of flora and fauna.
Abdukhakimov added that Uzbekistan’s Central Asian University of Environmental and Climate Change Studies is seeking to establish academic partnerships with institutions in the Kingdom, including King Saud University and King Abdulaziz University, for the exchange of scientific knowledge and innovations in the environmental field.
“Our cooperation is built on trust, mutual interest, and a shared responsibility for sustainable development and environmental protection in our regions,” said the minister.
He also invited Saudi partners to participate in the international Eco Expo Central Asia exhibition to be held in Tashkent from June 19 to 21, as well as the 20th CITES COP20 Conference, which will take place in Samarkand from Nov. 24 to Dec. 5.
Uzbekistan’s environmental agenda
During the interview, Abdukhakimov told Arab News that Uzbekistan is currently facing several severe environmental challenges, both globally and regionally, including climate change, desertification, and land degradation.
“These phenomena directly impact the country’s sustainable development and require proactive government action. At the regional and national levels, the most pressing issues include water scarcity and pollution, air quality degradation, and the need to conserve and restore biodiversity,” he said.
To address these challenges, the Uzbek government, under the leadership of President Shavkat Mirziyoyev, is taking various measures, including a push for a green economy, a transition to environmentally friendly transportation, and the development of alternative and renewable energy sources.
Saudi Arabia is also collaborating with Uzbekistan to advance its energy transition journey, which aims to generate 40 percent of its electricity from clean sources by the end of this decade.
Saudi utility giant ACWA Power is the largest foreign player in Uzbekistan’s energy sector, with the company already implementing 19 projects in the country worth a combined value of $5 billion.
Out of these 19 initiatives, eight are focused on renewable energy, which is expected to support the Central Asian nation’s goal to achieve 20 gigawatts of clean energy capacity by 2030.
During the Tashkent Investment Forum, Abid Malik, president of ACWA Power for Central Asia, announced that Uzbekistan will commence producing green hydrogen this month, with an annual production capacity of 3,000 tonnes.
In 2023, Mirziyoyev launched a pilot green hydrogen facility in the Tashkent Region in cooperation with ACWA Power. The $88 million project is being implemented in two phases, with production from the first phase expected to begin this month.
During the forum, Soumendra Rout, ACWA Power’s country head for Uzbekistan, said that the company is planning to invest $5 billion in the Central Asian nation as a part of its broader strategy aimed at increasing its total commitments in the country to $15 billion.
Abdukhakimov added that Uzbekistan, through the nationwide project Yashil Makon “Green Space,” aims to plant 200 million trees annually.
Under the project, Uzbekistan has planted over 850 million tree and shrub seedlings over the past four years.
“Under the ‘Uzbekistan – 2030’ Strategy, one of the key priorities is to ensure a favorable environment for the population. The year 2025 has been declared the ‘Year of Environmental Protection and Green Economy,’ underscoring the state’s strong commitment to environmental priorities,” said the minister.
Abdukhakimov further added that Uzbekistan is also strengthening institutions for environmental monitoring and control, with the country installing automated air pollution monitoring stations and expanding its meteorological network.
“These measures demonstrate Uzbekistan’s systematic approach to solving environmental problems and its active engagement in the global environmental movement,” he added.
Cooperation with regional partners
According to Abdukhakimov, Uzbekistan, like other Central Asian nations, is located in one of the world’s most climate-vulnerable regions.
He added that the average temperature in the region has risen by 1.5 degrees Celsius — twice the global average, while the area of glaciers has decreased by 30 percent in the last 50 to 60 years, resulting in water shortages, land degradation, and reduced crop yields.
“Central Asian countries share a common history, transboundary water resources and similar environmental threats — from desertification to increased vulnerability in agriculture. For this reason, Uzbekistan views cooperation as a key instrument in crafting a unified regional response to climate risks,” said the minister.
To ensure regional cooperation, Uzbekistan also hosted the Samarkand Climate Forum in April, where the Regional Green Development Concept was presented.
The minister said that this document serves as a foundation for shaping coordinated climate policy and strengthening regional solidarity in the face of global challenges.
Uzbekistan is also actively engaged in numerous regional initiatives, including the International Fund for Saving the Aral Sea, the Regional Environmental Center for Central Asia, and the CAREC Program, as well as projects with the World Bank, OSCE, and UNESCO.
Abdukhakimov further said that these initiatives will facilitate knowledge exchange, joint management of natural resources, and the mobilization of international funding.
“In short, Uzbekistan builds regional cooperation on climate issues on the principles of solidarity, mutual benefit, and synergy— firmly believing that only collective efforts can ensure a sustainable future for the entire region,” the minister said.
World Bank to end ban on nuclear energy projects, still debating upstream gas
- World Bank to work closely with IAEA to build capacity
- Electricity demand is expected to more than double by 2035
WASHINGTON: The World Bank’s board has agreed to end a longstanding ban on funding nuclear energy projects in developing countries as part of a broader push to meet rising electricity needs, the bank’s president Ajay Banga said on Wednesday.
Banga outlined the bank’s revised energy strategy in an email to staff after what he called a constructive discussion with the board on Tuesday. He said the board was not yet in agreement on whether the bank should engage in funding the production of natural gas, and if so, under what circumstances.
The global development bank, which lends at low rates to help countries build everything from flood barriers to railroads, decided in 2013 to stop funding nuclear power projects. It announced in 2017 it would stop funding upstream oil and gas projects beginning in 2019, although it would still consider gas projects in the poorest countries.
The nuclear issue was agreed fairly easily by board members, but several countries, including Germany, France and Britain, did not fully support changing the bank’s approach to embrace upstream natural gas projects, sources familiar with the discussion said.
“While the issues are complex, we’ve made real progress toward a clear path forward on delivering electricity as a driver of development,” Banga said, adding that further discussion was required on the issue of upstream gas projects.
Banga has championed a shift in the bank’s energy policy since taking office in June 2023, arguing the bank should pursue an “all of the above” approach to help countries meet rising electricity needs and advance development goals.
In his memo, he noted that electricity demand was expected to more than double in developing countries by 2035, which would require more than doubling today’s annual investment of $280 billion in generation, grids and storage.
The Trump administration has been pushing hard for ending the ban on nuclear energy projects since taking office.
The US is the bank’s single largest shareholder — at 15.83 percent, followed by Japan with 7 percent and China with close to 6 percent — and the bank’s decision to broaden its approach to energy projects will likely please President Donald Trump, who withdrew the US from the Paris Climate Agreement and its emission-reduction targets as one of his first acts in January.
Twenty-eight countries already use commercial nuclear power, with 10 more ready to start and another 10 potentially ready by 2030, according to the Energy for Growth Hub and Third Way.
Banga said the World Bank Group would work closely with the International Atomic Energy Agency to strengthen its ability to advise on nuclear non-proliferation safeguards, safety, security and regulatory frameworks.
The bank would support efforts to extend the life of existing nuclear reactors, along with grid upgrades. It would also work to accelerate the potential of small modular reactors.
ENERGY MIX
Trump administration officials and some development experts say developing countries should not be blocked from using inexpensive power to expand their economies while advanced economies like Germany continue to burn fossil fuels.
But climate activists worry that funding more nuclear and natural gas projects will divert funds away from urgently needed efforts by developing countries to adapt to climate change and benefit from abundant alternative energy sources such as solar.
“Net zero does not mean fossil fuel free. It means, still, that there will be 20 percent energy coming from fossil fuels,” said Mia Mottley, prime minister of Barbados. “We know natural gas is that clean fuel.”
Banga said the bank’s revised strategy would allow countries to determine the best energy mix, with some choosing solar, wind, geothermal or hydroelectric power, while others might opt for natural gas or, over time, nuclear.
He said the bank would continue to advise on and finance midstream and downstream natural gas projects when they represented the least-cost option, aligned with development plans, minimized risk and did not constrain renewables.
The bank would further study evolving technologies like carbon capture and ocean energy, Banga said, adding it aimed to simplify reviews and approvals.
Banga said the bank would continue advising on and financing the retirement of coal plants, supporting carbon capture for industry and power generation, but not for enhanced oil recovery, which can typically secure commercial financing.
Oil Updates — prices ease as market assesses Middle East tension
SINGAPORE: Oil prices eased on Thursday, reversing gains made earlier in the Asian trading session, as market participants assessed a US decision to move personnel from the Middle East ahead of talks with Iran over the latter’s nuclear-related activity.
Brent crude futures were down 49 cents, or 0.7 percent, to $69.28 a barrel at 9:30 a.m. Saudi time, while US West Texas Intermediate crude was 41 cents, or 0.6 percent, lower at $67.74 a barrel.
A day earlier, both Brent and WTI surged more than 4 percent to their highest since early April.
US President Donald Trump said the US was moving personnel because the Middle East “could be a dangerous place.” He also said the US would not allow Iran to have a nuclear weapon. Iran has said its nuclear activity is peaceful.
Increased tension with Iran has raised the prospect of disruption to oil supplies. The sides are set to meet on Sunday.
“Some of the surge in oil prices that took Brent above $70 per barrel was overdone. There was no specific threat identified by the US on an Iranian attack,” said Vivek Dhar, director of mining and energy commodities research at Commonwealth Bank Australia.
Response from Iran is only contingent on US escalation, Dhar said.
“A pull back (in price) makes sense, but a geopolitical premium that keeps Brent above $65 per barrel will likely persist until further clarity on US-Iran nuclear talks is revealed,” he added.
The US is preparing a partial evacuation of its Iraqi embassy and will allow military dependents to leave locations in the Middle East due to heightened security risk in the region, Reuters reported on Wednesday citing US and Iraqi sources.
Iraq is the second-biggest crude producer after Saudi Arabia in the Organization of the Petroleum Exporting Countries.
Military dependents can also leave Bahrain, a US official said.
Prices weakened having hit key technical resistance levels during Wednesday’s rally, plus some market participants are betting on Sunday’s US-Iran meeting resulting in reduced tension, said OANDA senior market analyst Kelvin Wong.
Trump has repeatedly said the US would bomb Iran if the two countries cannot reach a deal regarding Iran’s nuclear-related activity including uranium enrichment.
Iran’s Minister of Defense Aziz Nasirzadeh on Wednesday said Iran will strike US bases in the region if talks fail and if the US initiates conflict.
US Special Envoy Steve Witkoff plans to meet Iranian Foreign Minister Abbas Araghchi in Oman on Sunday to discuss Iran’s response to a US proposal for a deal.
Separately, US crude inventories fell 3.6 million barrels to 432.4 million barrels last week, the Energy Information Administration said. Analysts polled by Reuters had expected a draw of 2 million barrels.
Saudi Arabia adds MEDEX service to Jeddah Port, linking 12 global hubs
- New service connects Jeddah to Abu Dhabi and Jebel Ali in the UAE
- It also connects to Karachi in Pakistan, and Colombo in Sri Lanka
RIYADH: Saudi Arabia has expanded its maritime connectivity with the addition of the MEDEX shipping service at Jeddah Islamic Port, linking the Kingdom to 12 regional and international ports.
Operated by global logistics firm CMA CGM, the new service connects Jeddah to Abu Dhabi and Jebel Ali in the UAE, Karachi in Pakistan, and Colombo in Sri Lanka, according to a release by the Saudi Ports Authority, or Mawani.
The move is part of Mawani’s broader efforts to improve operational efficiency at Jeddah Islamic Port and raise Saudi Arabia’s standing in global port performance rankings.
It also supports the Kingdom’s National Logistics Strategy, which aims to increase the sector’s contribution to gross domestic product from 6 percent to 10 percent by 2030, positioning Saudi Arabia as a strategic logistics hub connecting three continents.
“This service enhances the port’s competitive advantage, facilitates global trade, opens new business horizons, and supports national exports,” Mawani said.
The MEDEX service is the 19th shipping line added to Jeddah Islamic Port since the beginning of 2025, reinforcing Saudi Arabia’s commitment to improving regional and international connectivity.
With a capacity of up to 10,000 twenty-foot equivalent units, the new service also links Jeddah to Mundra and Nhava Sheva in India, Piraeus in Greece, Malta, Genoa in Italy, Fos in France, and Barcelona and Valencia in Spain.
Headquartered in Marseille, CMA CGM Group operates in 177 countries and is the world’s third-largest shipping company. It serves more than 420 ports across five continents with a fleet of over 650 vessels.
The new service aims to boost domestic import and export activity, supporting Saudi Arabia’s broader objective of establishing itself as a global trade hub.
Jeddah Islamic Port currently features 62 multi-purpose berths, a bonded and re-export logistics area, several specialized terminals, and advanced cargo-handling equipment. It also houses two general cargo terminals, two ship repair docks, and a dedicated marine services zone. The port’s total handling capacity reaches 130 million tonnes annually.
Saudi Arabia climbed to 15th place globally in container throughput rankings in 2024, underlining its growing role as a maritime logistics powerhouse, according to Lloyd’s List, a UK-based shipping industry journal.
The report said Jeddah Islamic Port advanced to 32nd place globally, up from 41st in 2023, after handling 5.58 million containers last year — a 12.6 percent increase from the previous year.
Closing Bell: Saudi main index holds steady at 11,005
- Parallel market Nomu shed 84.03 points to close at 27,223.71
- MSCI Tadawul Index declined by 0.07 percent to end at 1,405.46
RIYADH: Saudi Arabia’s Tadawul All Share Index gained 0.49 points on Wednesday, closing at 11,005.02.
The total trading turnover of the benchmark index was SR5.60 billion ($1.49 billion), with 149 of the listed stocks advancing and 89 declining.
The Kingdom’s parallel market Nomu, however, shed 84.03 points to close at 27,223.71.
The MSCI Tadawul Index also declined by 0.07 percent to 1,405.46.
Fawaz Abdulaziz Alhokair Co., also known as Cenomi Retail, was the best-performing stock on the main market, as the company’s share price advanced by 9.93 percent to SR19.70.
Miahona Co. also saw its share price increase by 6.09 percent to SR24.38.
The stock price of Americana Restaurants International PLC advanced 5.74 percent to SR2.21.
Conversely, the share price of Elm Co. declined by 6.66 percent to SR959.20.
The top gainer on Nomu was Meyar Co., whose share price grew 20.74 percent to SR65.20.
In the parallel market, Knowledge Net Co. also saw its stock price rise by 10 percent to SR34.10.
The share price of Anmat Technology for Trading Co., which debuted on the Kingdom’s parallel market, climbed by 4.74 percent to SR9.95.
On Tuesday, Saudi Arabia’s main market also witnessed three negotiated deals worth SR23.3 million.
The negotiated deals include ACWA Power’s SR12.59 million, followed by Ades Holding Co.’s SR5.74 million, and Saudi Kayan Petrochemical Co.’s SR5 million.
A negotiated deal indicates the purchase of a stock based on an agreement between buyers and sellers, apart from the market price.
These agreements are executed under the control of Tadawul and in accordance with capital market laws and regulations.
The share price of ACWA Power declined by 5.34 percent to SR255.40.
Ades Holding Co. saw its share price drop by 0.74 percent to SR13.48.
The stock price of Saudi Kayan Petrochemical Co. edged up by 0.40 percent to SR4.96.
