Daily Newsletter

28 October 2024

Daily Newsletter

28 October 2024

UK and Australia working together on energy transition goals

The prime ministers of the two countries said the transition to net-zero represents economic opportunity.

Ed Pearcey

The UK and Australia will work together over the next few years to pursue their individual energy transition goals, according to joint statement from both governments.

The governments of Keir Starmer and Anthony Albanese said they believe “private capital and the power of government can be leveraged to shape a clean energy future in the interests of working people”.

They added that the transition paves the way for “new industries, new technologies, new job opportunities and a revitalisation of each nation’s industrial base”.

The two leaders, who met on the sidelines of the Commonwealth Heads of Government Meeting in Apia, Samoa, on Friday, agreed to enhance bilateral cooperation on climate change and energy “by negotiating a dynamic new partnership”.

The Australia-UK Climate and Energy Partnership will focus on the development and accelerated deployment of renewable energy technologies such as green hydrogen and offshore wind to support the economic resilience and decarbonisation goals of both countries.

However, neither leader gave any substantive details around how much money would allocated to the partnership.

Albanese said in the joint statement that the partnership would “build on our long-standing cooperation on international climate action and shared commitment to reach net-zero emissions by 2050”.

Starmer added in the statement that the partnership “underscores our commitment to powering up the UK with clean energy projects that will benefit communities across the country”.

Oil and Gas Upstream Projects Overview

GlobalData's latest report provides up-to-date oil and gas upstream projects pipeline length data by major regions globally, and length outlook of planned and announced pipelines up to 2028. Per our analysis, a total of 804 oil and gas upstream projects are expected to commence operations from 2024 to 2028. Of these, 526 represent new build projects. Asia leads among the regions with 189 projects expected to start operations by 2028.

Oil and Gas Upstream Projects Overview

GlobalData's latest report provides up-to-date oil and gas upstream projects pipeline length data by major regions globally, and length outlook of planned and announced pipelines up to 2028. Per our analysis, a total of 804 oil and gas upstream projects are expected to commence operations from 2024 to 2028. Of these, 526 represent new build projects. Asia leads among the regions with 189 projects expected to start operations by 2028.

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