Global lithium supplier Chile plans to restructure its production model: The Chilean government is reportedly looking to remodel the country’s lithium production model to shore up majority stakes in companies producing the rare earth for the state, Bloomberg reported on Friday. Critics of the nationalization plans say a state-administered system could run the risk of jeopardizing the world’s supply of the metal. Chile is the world’s second largest supplier of the precious metal, which is essential to EV battery production.

China’s ambitious nuclear generation outlook: A leading Chinese nuclear energy firm forecasts a boom in atomic plants in the coming decades to help meet decarbonization targets, Bloomberg reported on Thursday. China General Nuclear Power Group Co. Chairman Yang Changli expects the nation’s nuclear fleet to rise to 400 GW by 2060, accounting for some 18% of the country’s overall generation. The outlook is seven times that of China’s current capacity, which accounts for 5% of the country’s electricity.

And it drew the line on nature: China has finalized a nationwide ecological protection “red line” plan that aims to protect the country’s ecosystems and reverse damage caused by wide-scale urbanization, Reuters reported on Thursday. Some 3 mn sq km, or 30% of China’s total area and 150k sq km of marine areas are now under the state’s watch.

Singapore’s first ship-to-ship ammonia transfer could take place by the end of the year, the Global Centre for Maritime Decarbonisation (GCMD) said, according to Reuters. The move is pending the green light from the relevant regulatory agencies, according to GCMD CEO Lynn Loo.

And speaking of green fuel… : The use of standardized fuel by shipping companies may soon be a thing of the past with the push toward decarbonization, with a likely multi-fuel future for the international shipping industry, Bloomberg reported on Thursday, citing a joint industry study. The study shows 45% of respondents see vessels running on a mix of fuel oil/biodiesel, methane, methanol, and ammonia by mid-century. Hydrogen could also be in the mix, albeit at a specified level.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • Tokyo-based automaker Honda plans to bring to the market two EV models developed with General Motors next year, and a larger EV model in 2025 after as part of its global strategy for electrification. (AP)
  • US-based private equity outfit Carlyle Group is in hot water after it was found that its portfolio of fossil fuel companies nearly doubled its average annual greenhouse gas emissions over the past decade. (The Guardian)
  • Japan’s third largest refiner Cosmo Energy plans to maintain its current refining structure of 363k bpd until at least 2030 despite a projected decline in gasoline demand. (Reuters)
  • Private equity giant Apollo Global Management launched a USD 4 bn fund specializing in energy transition investments. (Reuters)
  • British multinational bank StanChart backtracked on financing the USD 5 bn crude oil pipeline in Uganda following demands from climate activists. (Bloomberg)
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