Gas Could Overtake Coal As Second Largest Energy Source By 2030: Study


US would account for 40 percent of total gas production growth to 2025, IEA said.

London: 

Natural gas is expected to overtake coal as the world’s second largest energy source after oil by 2030 due to a drive to cut air pollution and the rise in liquefied natural gas (LNG) use, the International Energy Agency (IEA) said on Tuesday.

The Paris-based IEA said in its World Energy Outlook 2018 that energy demand would grow by more than a quarter between 2017 and 2040 assuming more efficient use of energy – but would rise by twice that much without such improvements.

Global gas demand would increase by 1.6 percent a year to 2040 and would be 45 percent higher by then than today, it said.

The estimates are based on the IEA’s “New Policies Scenario” that takes into account legislation and policies to reduce emissions and fight climate change. They also assume more energy efficiencies in fuel use, buildings and other factors.

“Natural gas is the fastest growing fossil fuel in the New Policies Scenario, overtaking coal by 2030 to become the second-largest source of energy after oil,” the report said.

China, already the world’s biggest oil and coal importer, would soon become the largest importer of gas and net imports would approach the level of the European Union by 2040, the IEA said.

According to Reuters calculations, based on China’s General Administration of Customs data, China has already overtaken Japan as the world’s top natural gas importer.

Although China is the world’s third-biggest user of natural gas behind the United States and Russia, it has to import about 40 percent of its needs as local production cannot keep pace.

Emerging economies in Asia would account for about half of total global gas demand growth and their share of LNG imports would double to 60 percent by 2040, the IEA report said.

“Although talk of a global gas market similar to that of oil is premature, LNG trade has expanded substantially in volume since 2010 and has reached previously isolated markets,” it said.

LNG involves cooling gas to a liquid so it can transported by ship.

The United States would account for 40 percent of total gas production growth to 2025, the IEA said, while other sources would take over as U.S. shale gas output flattened and other nations started turning to unconventional methods of gas production, such as hydraulic fracturing or fracking.

Global electricity demand will grow 2.1 percent a year, mostly driven by rising use in developing economies. Electricity will account for a quarter of energy used by end users such as consumers and industry by 2040, it said.

Coal and renewables will swap their positions in the power generation mix. The share of coal is forecast to fall from about 40 percent today to a quarter in 2040 while renewables would grow to just over 40 percent from a quarter now.

Energy-related carbon dioxide emissions will continue to grow at a slow but steady pace to 2040. From 2017 levels, the IEA said CO2 emissions would rise by 10 percent to 36 gigatonnes in 2040, mostly driven by growth in oil and gas.

This trajectory was “far out of step” with what scientific knowledge says would be required to tackle climate change, the report said.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)





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World’s largest Mosaic: This Mumbai artist shows his love for Kohli by making his portrait with diyas


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Plans For World’s Largest Ocean Sanctuary In Antarctic Blocked


Antarctica is home to penguins, seals, toothfish, whales and krill, a staple food for many species.(File)

Sydney: 

A plan to create the world’s largest marine sanctuary in Antarctic waters was shot down when a key conservation summit failed to reach a consensus, with environmentalists on Saturday decrying a lack of scientific foresight.

Member states of the organisation tasked with overseeing the sustainable exploitation of the Southern Ocean failed at an annual meeting Friday to agree over the a 1.8 million square kilometre (1.1 million square miles) maritime protection zone.

The proposed sanctuary — some five times the size of Germany — would ban fishing in a vast area in the Weddell sea, protecting key species including seals, penguins and whales.

Consensus is needed from all 24 members of the Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR) and the European Union.

But environmental groups say Russia and China — whose concerns over compliance issues and fishing rights have proved key stumbling blocks in the past — along with Norway, played a part in rejecting the plan.

“This was an historic opportunity to create the largest protected area on Earth in the Antarctic: safeguarding wildlife, tackling climate change and improving the health of our global oceans,” Greenpeace’s Frida Bengtsson said in a statement on Saturday.

“Twenty-two delegations came here to negotiate in good faith but, instead, serious scientific proposals for urgent marine protection were derailed by interventions which barely engaged with the science and made a mockery of any pretence of real deliberation.”

Antarctica is home to penguins, seals, toothfish, whales and huge numbers of krill, a staple food for many species.

They are considered critical for scientists to study how marine ecosystems function and to understand the impacts of climate change on the ocean.

Plans were set out in 2009 to establish a series of marine protected area (MPAs) in the Southern Ocean allowing marine life to migrate between areas for breeding and foraging, but it has been slow going.

The CCAMLR summit, held in each year in Hobart, Australia, was able in 2016 to establish a massive US and New Zealand-backed MPA around the Ross Sea covering an area roughly the size of Britain, Germany and France combined.

As well as the huge Weddell Sea sanctuary, proposals to estbalish two further MPAs in East Antarctica and the Western Antarctic Peninsula were also dashed this year. Together, the three zones would cover close to three million square kilometres.

Andrea Kavanagh, head of The Pew Charitable Trusts’ Antarctic and Southern Ocean work, described the failure to achieve an MPA designation as “discouraging”.

“Without an East Antarctic MPA, critical foraging grounds for emperor and Adelie penguins, toothfish, and many other species will not be safeguarded,” she said in a statement.

The CCAMLR released a statement saying the new MPAs were the “su

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)





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India Will Become Fifth Largest Economy In 2019


Arun Jaitley said Aadhaar, which was criticised by the opposition, has actually helped the government

New Delhi: 

Finance Minister Arun Jaitley on Friday said India would become the world’s fifth largest economy in 2019 and among the top three in the coming years.

Speaking at the ‘Support and Outreach Initiative for the MSME sector’ event in New Delhi, the minister said since the Narendra Modi-led government took over about four years ago, India has moved from the ninth to sixth position in the global economic landscape.

“Next year, India will become the fifth largest economy,” he said, adding hopefully in the coming years the country would be among the top three economies of the world.

India emerged as the world’s sixth largest economy in 2017, surpassing France, and is likely to go past the United Kingdom, which is at the fifth position, according to an analysis of data compiled by the World Bank.

In 2017, India became the sixth largest economy with a Gross Domestic Product (GDP) of USD 2.59 trillion, relegating France to the seventh position.

The United Kingdom, which is facing Brexit blues, had a GDP of USD 2.62 trillion, which is about USD 25 billion more than that of India, the data showed.

The US is the world’s largest economy with a size of USD 19.39 trillion, followed by China (USD 12.23 trillion). Japan (USD 4.87 trillion) and Germany (USD 3.67 trillion) are at the third and fourth places, respectively.

Referring to India’s significant jump in the World Bank’s ease of doing business index, Mr Jaitley said it has improved 65 notches to the 77th position during the four years of the NDA government.

He said the Prime Minister has set a target of taking India among the top 50 nations in the World Bank’s ease of doing business ranking.

“We are very near the target,”Mr  Jaitley said, as he criticised the Congress-led UPA government for “policy paralysis” and “corruption”, which discouraged domestic as well as foreign investors.

He said during the last five years of the UPA government, inflation averaged around 10.4 per cent, whereas all economic parameters are now stable.

Mr Jaitley further said that Aadhaar, which was criticised by the opposition, has actually helped the government in saving Rs 90,000 crore annually, which is enough to fund four schemes like Ayushman Bharat.

The minister also said the MSME sector has benefited from implementation of GST, under which taxes were reduced on 334 items in the first year of its rollout.





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Explosion And Fire Reported At Canada’s Largest Oil Refinery


The company confirmed on Twitter that a “major incident” occurred at the refinery.

Montreal: 

An explosion and fire ripped through Canada’s largest refinery Monday in what the company that owns it called a “major incident.”

It was not known if there were casualties from the blast and fire at the Irving Oil refinery in St. John’s, New Brunswick.

Images posted on social media networks showed intermittent flames and a column of black smoke rising from the refinery, the country’s largest with a production capacity of 300,00 barrels of refined products a day.

Rob Beebe, who lives near the refinery, told Radio Canada he felt his house shake, followed by a blast.

The company confirmed on Twitter that a “major incident” occurred at the refinery.

“We are actively assessing the situation at this time and will share more information when available,” it said.





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Qualcomm To Setup Rs 3,000 Crore Hyderabad Campus, Largest Outside US


Qualcomm will set up a campus in Hyderabad at an investment of around Rs 3,000 crore (Reuters)

Hyderabad: 

Qualcomm will set up a campus in Hyderabad at an investment of about Rs 3,000 crore ($400 million), which will be its largest facility outside of the United States, the Telangana state government announced on Saturday.

The phase-1 of the project will include a built-up space of 1.7 million sqft, housing about 10,000 employees.

Qualcomm hopes to start its work in 2019. Qualcomm already has a presence in India in Hyderabad, Bengaluru, and Chennai.

The delegates from the US-headquartered telecommunication equipment maker met the state’s Minister for Information Technology and Industries KT Rama Rao to discuss their growth plans in the city, according to a Ministry statement.

Qualcomm joins the elite list of companies that have their largest presence globally outside of their headquarters in Hyderabad, Rama Rao said in the statement.

“We have Apple, Amazon, Google, Microsoft, Facebook and now Qualcomm. This list will only increase as they are a few more in the pipeline that we are working actively with. This is indeed a big boost to the state of Telangana, as well as to the electronics, and semiconductors industry…,” he said.





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Shivpal Yadav says i will support largest party in Lok Sabha Elections 2019


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Akamai Opens Its Second Largest Facility in the World, in Bengaluru


Cloud delivery network provider Akamai Technologies on Friday announced the opening of its new facility in Bengaluru that would house more than 2,000 employees over the next few years.

Spread over a 250,000 square feet area and touted as Akamai’s second largest across the world, the facility will also house an Akamai Network Operations Centre, an Akamai Security Operations Command Centre and a Broadcast Operations Command Centre to service customers in the region and across the globe.

“Akamai has had a presence in Bengaluru for more than a decade. We’re proud of how our local team delivers meaningful innovation for the company globally and for customers locally, helping Indian organisations harness the full power of the Internet,” Dr Tom Leighton, CEO, Akamai, said in a statement.

According to Prasad Mandava, Managing Director, India and Vice President, Engineering, Akamai, the facility represents the company’s continued commitment to its workforce in India.

“This facility stands as a testament to the culture of innovation and value that the India site brings to Akamai and its customers globally,” said Mandava.

Akamai provides edge security, web and mobile performance, enterprise access and video delivery solutions



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Dena, Vijaya, Bank Of Baroda To Merge To Form India’s 3rd Largest Bank


We had announced in the budget that consolidation of banks was also in our agenda, Arun Jaitley said.

New Delhi: 

Three state-run banks – Dena Bank, Vijaya Bank and Bank of Baroda – will be merged to create the third-largest bank in the country, the government said today, as part of efforts to clean up the country’s banking system.

The government will continue to provide capital support to the merged entity. The announcement, made by Financial Services Secretary Rajiv Kumar during a press conference with Finance Minister Arun Jaitley, comes as the country’s banking sector grapples with Rs 8.99 lakh crore worth non-performing assets or NPAs.

The proposal will be sent to the boards of the three banks, which need to approve it, before any further process, Rajiv Kumar said. He added that the sector needs reforms and the government is taking care of banks’ capital needs.

The government expects that the process of amalgamation would be completed by the end of this financial year. The three banks will continue to function independently till the merger.

Rationalisation of overseas operation in banking sector is in full swing, Mr Kumar said, adding the government is keen to take steps so that history isn’t repeated as far as NPAs are concerned

Speaking on the merger, Arun Jaitley said that bank lending was becoming weak, hurting corporate sector investments.

The government had announced in the budget that consolidation of banks was also in our agenda and the first step has been announced, he added.

“No employee will face any service conditions which are adverse in nature. The best of the service conditions will apply to all of them,” Mr Jaitley said.

The government owns majority stakes in 21 lenders, which account for more than two-thirds of country’s banking assets. PSU Banks account for the lion’s share of bad loans plaguing the sector. The sector needs capital infusion in millions of rupees in the next two years to meet global Basel III capital norms. In January, the government announced Rs 88,139 crore capital infusion in public sector banks in the current fiscal.

Currently, state-run State Bank of India, and private sector peers HDFC Bank and ICICI Bank are the three largest banks in the country.

Five associates and the Bharatiya Mahila Bank became part of the State Bank of India (SBI) in April last year, which helped the country’s largest lender increase its scale and cut expenses through synergy of operations.

In August last year the government had set up a ministerial panel to speed up consolidation of state-run banks.





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India Must Shed ‘Largest Arms Importer’ Tag, Says Defence Production Secretary Ajay Kumar


Public-private partnership in defence in the country is being encouraged to step up arms exports

Kolkata: 

The secretary in the department of defence production (DP) Ajay Kumar today said India has overtaken China as the world’s largest arms importer and should shed the tag.

He said the public-private partnership in defence in the country is being encouraged to step up arms exports and licensing system in some items that had been liberalised.

“India is the world’s largest arms importer, a place which earlier belonged to China”, he said over video conference from Delhi at a seminar organised by Bharat Chamber of Commerce on Friday.

Mr Kumar said, “If China could (reduce dependence on imports productions) then why cannot India”?

Citing the instance of Mexico, he said the central American country has established a huge aero-manufacturing base and exports to the US and Europe.

According to MR Kumar, the five permanent members of the United Nations Security Council are responsible for 74 per cent of the global arms trade. “What part of that pie we need to have?” he asked, adding that many countries were willing to buy arms from India.

Mr Kumar said that testing infrastructure would be set up for the private sector also.

Former chief of Air Staff Arup Raha said, “unfortunately India continues to depend on imports for high-end weapon systems”. 





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