OMNI Features|Increased Demand for Oil and Natural Gas in India.Japan's Decarbonization Initiative: Proposal to Expand Offshore Wind Turbines in Exclusive Economic Zones.Solar Panels Installed at Remote Schools in Hualien Generate Over 10,000 kWh Annually

Feb. 27 2024

OMNI Features|Increased Demand for Oil and Natural Gas in India.Japan's Decarbonization Initiative: Proposal to Expand Offshore Wind Turbines in Exclusive Economic Zones.Solar Panels Installed at Remote Schools in Hualien Generate Over 10,000 kWh Annually

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|Increased Demand for Oil and Natural Gas in India
Ministry of Petroleum and Natural Gas (MOPNG) has indicated that India's influence in the global oil market is expected to significantly increase over the next 10 years. The projected daily demand is expected to reach 1.2 million barrels, constituting more than one-third of the global average daily demand of 3.2 million barrels. By 2030, the daily demand is forecasted to reach 6.6 million barrels, making India the largest consumer of oil. India is currently planning large-scale initiatives, including the electrification of automobiles and improving energy efficiency, aiming to control the average growth of gasoline consumption to 0.7% and avoid a significant increase in oil demand.

|Japan's Decarbonization Initiative: Proposal to Expand Offshore Wind Turbines in Exclusive Economic Zones
The Japanese government intends to expand the areas where offshore wind turbines can be installed from the current territorial waters to the Exclusive Economic Zone (EEZ) through legislative amendments. This move aims to achieve Japan's target of installing offshore wind power capacity by 2040. According to the Yomiuri Shimbun report, the related legislation is expected to be submitted for deliberation in the Japanese parliament as early as the beginning of March.

|Solar Panels Installed at Remote Schools in Hualien Generate Over 10,000 kWh Annually
To promote community-owned power generation, The Society of Wilderness has initiated the "Demonstration Project for Establishing Citizen Power Plants" using donations from convenience stores to assist in installing solar power systems at Chongde Elementary School and Luoshan Elementary School in Hualien, Taiwan. An inauguration ceremony was held on the 25th, marking a total generation capacity of 11,132 kWh annually, which can reduce carbon emissions by approximately 5.5 metric tons of CO2 equivalent, equivalent to the carbon absorption of planting 551 trees.

Reference: TITA|CNA|LTN

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