The areas of potential cooperation include upstream and downstream businesses, engineering and construction, oilfield services, carbon capture and hydrogen.

Saudi Arabia’s Permanent Representative to the UN Dr. Abdul Aziz Al-Wasel on Monday emphasized the importance of “adopting sustainable and cost-effective methods to achieve ambitious climate goals.”

The Australian Nuclear Science and Technology Organisation has operated a nuclear research reactor at Lucas Heights for more than 60 years, but the use of nuclear power in Australia is currently prohibited by federal and state-level legislation.

“Nuclear cogeneration has an enormous potential to contribute to sustainable development while reducing carbon emissions, by taking advantage of the carbon free heat of nuclear power plants to provide fresh water, district heating, process heat and hydrogen,”

Indeed, by 2025, companies in the steel, building materials, petrochemicals, non-ferrous metals, consumer goods, equipment manufacturing and electronics sectors with an annual revenue of CNY20m (US$2.9m) or more will have to cut their energy use by 13.5% from 2020 levels.

The first project, with a capacity of 1 GW, may be supplemented later by a second plant of 1 GW, which could have either fixed foundations or floating wind turbines anchored to the ocean floor.

For the first five months of 2022, solar, wind, and other renewable energy sources provided 25.7% of U.S. electricity – more than either coal or nuclear power and up from 22.9% a year earlier.

As technology evolves faster than ever, we become more and more reliant on a new cohort of minerals. We are moving to a world powered by critical minerals: we need lithium, cobalt and graphite to make batteries for electric cars; silicon and tin for our electronics; rare earth elements for electric cars and wind turbines.

The transition to a renewable plus storage grid would require replacement of baseload coal generation and perhaps nuclear generation as well.

The two programs – the Carbon Capture Demonstration Projects Program and the Carbon Dioxide Transport/Front-End Engineering Design (FEED) Program – are funded by a more than $2.6 billion investment from President Biden’s Bipartisan Infrastructure Law.

"Ensuring stable energy supplies to the Polish system requires the rapid implementation of nuclear technologies," said PKN Orlen President Daniel Obajtek.

Mainstream’s offshore business will continue to develop existing project opportunities for bottom-fixed and floating wind in markets such as Norway, Sweden, Japan, South Korea, Vietnam, Ireland, the UK and the US, while exploring opportunities in new markets.

The spot price of Brent crude oil averaged $71 per barrel (b) in 2021, and we forecast the Brent price will average $104/b in 2022 and $94/b in 2023.

Hydrogen is becoming a more versatile fuel, however, and is receiving interest in energy storage, as a transportation fuel, as a fuel for electricity generation, and as a fuel for heating.

Green means the hydrogen has been made using electricity and from renewable sources. But as with electric cars, the environmental footprint is determined by the power mix carbon intensity if it is connected to the grid.