Day: June 27, 2022

Siemens Gamesa and Korean Doosan Enerbility signed a non-binding Memorandum of Understanding (MoU) to investigate strategic cooperation within offshore wind power activities on Sunday.

The deal involves investigations of potential collaboration between the two companies in large-scale offshore wind turbines, sharing of major services including construction of new Korean production facilities, the supply of wind turbine parts, offshore wind turbine installation, and turbine maintenance.

It will also explore a Korean domestic supply chain and related industries. Furthermore, it will study potential job creation and industrialization in the Korean offshore wind power market.

Doosan Enerbility is intended to contribute its experience, domestic production base and business capabilities while Siemens Gamesa’s will offer its global know-how in offshore wind.

Siemens Energy installed more than 19.4 gigawatts of offshore wind power capacity globally.

Doosan Enerbility is the only manufacturer in Korea that has a supply record in the domestic offshore wind power market.

Source: Anadolu Agency

Saudi Arabian Oil Company (Aramco) inaugurated the Aramco Research Center to accelerate the development of low-carbon solutions for the energy industry using advanced analytics on Monday.

The research center deploys artificial intelligence and machine learning to develop innovative ways to advance low-carbon solutions and enable a Circular Carbon Economy.

The researchers, engineers and scientists intend to develop new technologies in carbon capture, low-carbon hydrogen/ammonia, non-metallics, e-fuels, liquids-to-chemicals, and advanced transport technologies.

‘The critical research undertaken at this new facility will help us meet our obligations to customers and energy consumers worldwide, while also supporting our ambition of reaching operational net-zero emissions by 2050,’ Ahmad Al-Khowaiter, Aramco Chief Technology Officer, said.

Source: Anadolu Agency

The highest electricity price rate for one megawatt-hour on Türkiye’s day-ahead spot market for Tuesday will be 2,493.06 Turkish liras at 02.00 p.m. and 09.00 p.m. local time (1100 and 1800 GMT), according to official figures on Monday.

The lowest rate is determined as 1,750.01 liras at 06.00 a.m. local time (0300 GMT), the figures showed.

The Energy Exchange Istanbul (EXIST) data for the trade volume on Monday’s electricity market showed a decrease of 1.94% to 1.22 billion liras compared to Sunday.

The arithmetical and weighted average prices of electricity on the day-ahead spot market are calculated as 2,216.96 liras and 2,226.32 liras, respectively.

The highest electricity price rate for one megawatt-hour for Monday was set as 2,750 Turkish liras at 02.00 p.m. local time (1100 GMT), while the lowest rate was determined as 1,280.01 liras at 06.00 p.m. local time (0300 GMT).

US$1 equals 16.71 liras at 1100 GMT on Monday.

Source: Anadolu Agency

The world’s seven largest economies have agreed to use money collected from higher trade tariffs on Russia to help Ukraine, according to a statement issued by the White House on Monday.

On the second day of the Group of Seven summit in Germany, leaders make new commitments to hit the Russian economy further and “ensure that Russia pays for the costs of its war,” said the statement.

“The US will implement a higher tariff rate on more than 570 groups of Russian products worth approximately $2.3 billion to Russia,” it underlined.

It also noted that all members will commit to helping Ukraine in covering its short-term budgetary funding shortfalls, including a $7.5 billion commitment from the second supplemental from the US.

“Leaders will also make an unprecedented, long-term security commitment to providing Ukraine with financial, humanitarian, military and diplomatic support as long as it takes,” it said.

The new support will include maintaining “Ukraine’s credible military readiness and defense, including through the timely provision of modern defense equipment and advanced weapons systems.”

Meanwhile, UK Prime Minister Boris Johnson will call on world leaders to take urgent action to get essential food supplies out of Ukraine at the G-7 summit.

The government plans to repair vital railways in order to transport grain out of the country by rail.

“The UK is in close discussion with the Government of Ukraine about how to maximize their rail capacity and keep both trains and grain moving,” an official statement said on Monday.

Since the start of Russia’s war on Ukraine, the first in-person gathering of the world’s seven leading economies kicked off in Germany on Sunday with leaders discussing the war-driven food and energy crises.

The three-day event is taking place at Schloss Elmau in the Bavarian Alps, with its agenda considered more urgent than ever as the war in Ukraine continues.

Source: Anadolu Agency

Leaders of NATO’s member countries and key partners are set to meet in Madrid to discuss issues facing the alliance during a three-day summit beginning on Tuesday.

Russia’s war against Ukraine has shattered peace in Europe as it caused far-reaching energy and food crises by shaking the rules of the international order since it began on Feb. 24.

As NATO became a more indispensable platform for transatlantic cooperation on security and defense, allies will continue to make decisions to keep the alliance ready against any threat at the summit.

Strengthening NATO’s long-term deterrence and defense, sustaining support for Ukraine, launching NATO’s 2022 Strategic Concept, reinforcing partnerships and maintaining an open door, adapting to threats and challenges from any direction, and transatlantic unity and alliance solidarity will be on the agenda for the member states to discuss.

Some “important” topics to be discussed by members and partners include how has Russia’s military operation in Ukraine and the new security reality in Europe affected the alliance’s approach to deterrence and defense; what is NATO doing to address challenges like China’s growing influence or security consequences of climate change and what to include in the next Strategic Concept.

To protect and defend allied territory amid the current security reality, NATO has more than 40,000 troops under direct command, backed by air and naval assets.

The alliance also doubled the number of battlegroups to eight, extending from the Baltic Sea in the north to the Black Sea in the south.

NATO leaders will “significantly strengthen the Alliance’s posture for the long term, with more presence, capabilities and readiness,” according to the alliance, which will require adequate resources and continued investment in defense.

Support for Ukraine

Noting that allies “significantly stepped up with billions of euros’ worth” of additional lethal and non-lethal aid to help Ukraine after Russia launched its war in February, NATO said it builds on the years of NATO training and assistance since Moscow’s illegal annexation of Crimea in 2014.

Leaders of member countries will meet with Ukraine to agree to step up and sustain support for the “longer-term” at the summit.

2022 Strategic Concept

Serving as a blueprint for future adaption, strategic concepts give the alliance the ability to respond to current security challenges and guide political and military developments for the challenges of tomorrow.

In Madrid, leaders will endorse a 2022 Strategic Concept, which will set out NATO’s joint positions, including on Russia and emerging challenges, and will address China for the first time.

“The Madrid Strategic Concept will reflect the new security environment, recommit to our values, and reaffirm our unity, ensuring that our Alliance is fit for the future,” NATO Secretary-General Jens Stoltenberg said of the new concept.

The concept has been reviewed and updated approximately every 10 years since the end of the Cold War. The last one was adopted at the Lisbon Summit in 2010.

Reinforcing partnerships, maintaining an open door

Finland and Sweden’s NATO bids will belong to the main agenda points of the summit as part of the alliance’s Open Door policy.

Sweden and Finland formally applied to join the alliance last month, a decision spurred by Russia’s war on Ukraine.

But Türkiye, a longstanding member of the alliance, has voiced objections to the membership bids, criticizing the countries for tolerating and even supporting terrorist groups.

Stoltenberg has constantly said that Türkiye has “legitimate concerns related to their fight against the PKK a group and other organizations,” and that the PKK is considered a terror organization by NATO, the EU, Finland, and Sweden.

However, Spanish Foreign Minister Jose Manuel Albares recently said the host country hopes to sign with Finland and Sweden at the summit as parties could get closer in talks during the one-week window.

In its more than 35-year terror campaign against Türkiye, the PKK has been responsible for the deaths of more than 40,000 people.

NATO will step up support to Georgia and other partners to build their capabilities and strengthen their resilience during the summit.

The leaders of four Asia-Pacific partners — Australia, Japan, the Republic of Korea and New Zealand will be part of a NATO summit for the first time.

Adapting to threats, challenges

Member countries are set to make decisions to maintain NATO’s technological edge, “including through the new Defence Innovation Accelerator for the North Atlantic and a billion euro Innovation Fund, to support start-ups and develop cutting-edge solutions to security challenges,” according to the alliance.

Terrorism, cyberattacks, China’s “coercive” policies, disruptive technologies and the security impact of climate change are among the topics that the alliance will focus under threats and challenges title.

Regarding climate change, leaders will agree on a new methodology to map military greenhouse gas emissions and a target to help NATO contribute to the goal of net-zero emissions.

As NATO faces “the most serious security situation in decades,” the decisions leaders make in Madrid will ensure that NATO continues to preserve “peace, prevent conflict and protect our people and our values,” according to the alliance.

The summit has special importance for Spain as the country is hosting on the 40th anniversary of Madrid’s accession to NATO.

Source: Anadolu Agency

Italy’s center-left Democratic Party snatched most of the cities up for grabs in a set of local election run-offs, according to results published on Monday, defeating the center-right in key centers and boosting the strength of the coalition government led by Prime Minister Mario Draghi.

The vote held on Sunday was the last electoral test for Italian parties ahead of the much-awaited national elections set for next year, when Italians will decide who will head the new government after Draghi.

The head of the Democratic Party, Enrico Letta, hailed the election result, calling it “extraordinary,” and said it also “strengthens us in view of the future, in building a center-left bloc that will be a winner also on a national level, at next year’s political elections.”

Italian citizens voted across the country in 65 cities, including 13 provincial and regional capitals, even though less than half of the eligible voters cast their ballots in a hot summer weekend.

The Democratic Party’s candidates prevailed in the northern cities of Parma, Alessandria, Monza, as well as the southern city of Catanzaro.

In the traditionally conservative city of Verona – a long-time bastion of the center-right – Rome’s former soccer player Damiano Tommasi, who was backed by the Democratic Party and the 5-Star Movement, won against most predictions, exploiting divisions within the center-right bloc.

The center-right had won 10 of the 26 provincial and regional capitals voting in the first round of the elections on June 12.

The rightist coalition – formed by Matteo Salvini’s League, Giorgia Meloni’s Brothers of Italy, and Silvio Berlusconi’s Forza Italia – has been recently weakened by internal divisions, also due to the unstoppable rise of Meloni’s popularity, which is raising questions over Salvini’s leadership.

Source: Anadolu Agency