Category: Energy and Power

Ventura Offshore has secured a $58 million drilling contract from PETRONAS EandP Bobara for a onewell campaign offshore Indonesia.

The contract will involve the ultra-deepwater drillship Deep Value Driller, which Ventura will market and operate under a new agreement with Eldorado Drilling, the vessel’s owner.

The drilling campaign highlights renewed offshore exploration activity in Southeast Asia, where operators are advancing oil and gas projects to strengthen regional energy supplies.

The marketing and operations agreement also expands Ventura Offshore’s managed fl eet and provides the company with opportunities to pursue additional ultra-deepwater drilling projects beyond the initial PETRONAS campaign.

Bangladesh became the 17th-largest importer of US liquefi ed natural gas (LNG) in the fi rst half of 2026, with purchases rising 61% yearon-year amid disruptions to traditional supplies from the Middle East.

According to the US Energy Information Administration (EIA), Bangladesh imported 50.23 billion cubic feet (bcf) of US LNG during JanuaryJune, compared with 31.27 bcf in the same period of 2025.

India ranked 10th among the top 20 buyers, while Pakistan was not on the list.

US LNG exports averaged 17.4 billion cubic feet per day during the fi rst half of 2026, up 23% from a year earlier.

The EIA expects exports to average 17.3 bcf per day in the second half of 2026 and rise to 18.7 bcf per day in the fi rst half of 2027.

The Asian Development Bank (ADB) has approved a $175 million concessional loan to expand reliable and affordable electricity access in Bangladesh’s Chattogram Hill Tracts, with the project expected to connect at least 88,000 additional households by 2032.

The Sustainable Energy Development and Community Empowerment Project will modernize distribution networks across 26 remote upazilas in Khagrachari, Rangamati and Bandarban.

It includes six new 33/11 kV substations, 5,032 km of new distribution lines and upgrades to 1,874 km of existing lines.

The improvements are expected to reduce system losses, strengthen grid resilience and avoid at least 19,300 tonnes of CO2-equivalent emissions annually.

Grid access in the three hill districts remains well below Bangladesh’s national electrifi cation rate

US companies are highly interested in building and operating additional fl oating storage and regasifi cation units (FSRUs) in Bangladesh, US Ambassador Brent T.

Christensen said during a meeting with Commerce Minister Khandakar Abdul Muktadir in Dhaka on September 7.

Christensen stressed the need for a transparent and competitive process for major infrastructure projects, saying it would boost foreign investors’ confi dence and encourage greater US participation in Bangladesh’s energy sector.

Muktadir welcomed US investment, saying American companies would receive the highest priority if they could demonstrate the capacity to deliver an FSRU within the shortest possible timeframe.

The two sides also discussed expanding bilateral trade, improving the business environment and strengthening energy cooperation.

Meanwhile, Summit LNG Terminal II has asked Petrobangla to reconsider the cancellation of its FSRU project, claiming that retaining its BOOT-based project could save Bangladesh around $1.1 billion.

Denmark’s planned energy islands could become regional hubs for offshore wind, cross-border electricity trade and green fuel production as the country accelerates its clean energy transition, according to GlobalData.

Denmark plans an artifi cial energy island in the North Sea with an initial capacity of 3 GW, alongside an energy hub at Bornholm in the Baltic Sea.

The facilities will collect power from offshore wind farms, transmit electricity to Denmark and neighboring countries, and potentially convert surplus power into green fuels through Power-to-X technologies.

GlobalData forecasts Denmark’s electricity generation will rise from about 33.6 TWh in 2025 to 43.3 TWh by 2035, with renewables accounting for nearly 98% of generation.

More than 8.7 GW of offshore wind projects are currently in the permitting or announced stages, within a total pipeline exceeding 17.6 GW.

The government plans to gradually replace diesel-powered irrigation pumps with solar-powered systems across Bangladesh within the next fi ve years, Prime Minister Tarique Rahman told Parliament recently.

Replying to a supplementary question, the Prime Minister said all diesel-operated irrigation pumps would be brought under the solar program in phases as part of efforts to expand renewable energy and reduce dependence on imported fuel.

Bangladesh aims to meet at least 20% of its electricity demand from renewable sources by 2030 and 30% by 2040.

The government has set targets of 5,500MW from rooftop solar, 4,500MW from ground-mounted solar and 450-550MW from other renewable sources by 2030.

Tarique also said the government was encouraging lithium battery-based energy storage and would support industries producing such batteries.

Lithium batteries could eventually be made mandatory for rooftop solar systems, he added.

The presidency of the 31st UN Climate Change Conference (COP31) has outlined its priority themes and key milestones ahead of the conference in Antalya, Trkiye, emphasizing implementation, international cooperation, climate fi nance and practical solutions.

In a letter dated August 24, COP31 President-designate Murat Kurum said the COP31 Action Agenda would serve as a practical platform to strengthen partnerships, scale up solutions, mobilize fi nance and investment, and deliver tangible benefi ts for people, economies and ecosystems.

The agenda builds on the fi ve-year vision for the Global Climate Action Agenda launched at COP30 in Belém, Brazil.

The presidency has identifi ed 10 priority areas: clean energy transition and electrifi cation; zero waste and methane reduction; climate-resilient cities; green industrialization; youth and education; food security; oceans and seas; climate-resilient health systems; stronger coordination on climate, biodiversity and land issues; and a Climate Implementation Bridge to help countries turn climate and development priorities into fi nance-ready projects.

Finance, technology and capacity building will serve as cross-cutting enablers across all 10 areas.

The COP31 Action Agenda also includes thematic days covering food and agriculture, energy and transport, zero waste, resilient cities, fi nance and trade, youth and education, science and technology, human and social development, and implementation.

Several major events will help build momentum toward Antalya, including the Istanbul Climate Finance Summit, Ocean and Seas Summit, UNFCCC Climate Week 4, Climate Week NYC and the Pre-COP meeting in Fiji.

The Leaders’ Summit, scheduled for November 11-12 during COP31, is expected to provide a platform for aligning national priorities, building partnerships and strengthening confi dence in multilateral climate action.

The presidency has also urged countries to submit their Biennial Transparency Reports under the Paris Agreement and their post-2030 nationally determined contributions

Germany has committed pound 12 million in grants to support two projects in Bangladesh focusing on coastal ecosystem protection and energy effi ciency.

Two memoranda of understanding were signed at the Economic Relations Division (ERD) in Dhaka.

The pound 5.0 million coastal project will be jointly implemented by the Department of Fisheries and the Forest Department to strengthen the protection, restoration and sustainable use of coastal and marine resources with community participation.

A separate pound 7 million grant will support the ‘Energy Effi ciency for Sustainable Development’ project, jointly implemented by the Sustainable and Renewable Energy Development Authority (SREDA) and Bangladesh Standards and Testing Institution (BSTI).

The project aims to improve energy effi ciency in industries and residential buildings, reduce electricity consumption from the national grid and promote energy-effi cient technologies and standards.

Runa Khan, founder and executive director of Bangladeshi social development organisation Friendship, has been named a recipient of the Ramon Magsaysay Award 2026 for her decades-long efforts to improve the lives of people living in remote, river-eroded and climatevulnerable communities across Bangladesh.

The Ramon Magsaysay Award Foundation (RMAF) announced the 2026 recipients in Manila on August 31.

Alongside Runa Khan, Singaporean diplomat and international law expert Tommy Koh and Myanmar activist Bo Kyi have been selected for this year’s award.

The awards will be formally presented at the Metropolitan Theater in Manila on November 15.

According to the foundation, Runa Khan is being honoured for her deep empathy for some of Bangladesh’s poorest communities and for her courage, vision and determination in establishing and leading Friendship

Europe is entering a new phase of offshore wind development as governments move from ambitious targets toward project execution, according to GlobalData.

Redesigned auctions, stronger revenue stabilization mechanisms and faster permitting are helping countries build multi-gigawatt offshore wind pipelines.

GlobalData’s latest report, Europe Renewable Energy Policy Handbook 2026, says offshore wind is increasingly being viewed as strategic infrastructure rather than simply another power generation technology.

The shift refl ects the sector’s potential to deliver large-scale volumes of lowcarbon electricity.

‘A key differentiator is no longer simply who offers the lowest price, but who can deliver at scale under permitting limits, supply-chain constraints and increasingly complex grid integration,’ said Attaurrahman Ojindaram Saibasan, Power Analyst at GlobalData.