Chinaâs âNew Silk Roadâ strategy is intended to connect the Chinese industrial powerhouse first with Eurasia and then Europe. This will be done through a gigantic, intricate network of road and rail transport lines and energy pipelines, which will cut overland travel time from China to Europe to just two days. It is the greatest trade story in the world, writes reporter Pepe Escobar, even though we hear little about it in the West. Europe, notes … [Read more...]
Energy security: Brussels, stop dreaming about the market and confront Russia and China geopolitically
European leaders are under the delusion that they can solve Europeâs security of energy supply problem by creating a strong internal market, which they believe the rest of the world will be eager to serve. In reality, reducing dependence on Russia will require long-term political commitment, real power play and engagement with countries in the Middle East and North Africa (MENA), write Cyril Widdershoven of energy research institute TNO and … [Read more...]
Putin’s gas gambit: what’s next after South Stream
The Russian cancellation of South Stream is not an end, but a beginning: a new start of Russian gas games in Europe and beyond, writes Agata Ćoskot-Strachota of the Centre for Eastern Studies (OSW) in Poland. She discusses three likely scenarios for what will happen after South Stream and notes that this is a chance for Russia and Europe to look afresh at their bilateral gas relations and new pipeline options. But, she adds, it also makes it … [Read more...]
Cancellation of South Stream is not retaliation, but a business decision
The decision to stop the South Stream project does not represent a fundamental shift in Russian energy policy, writes Friedbert PflĂŒger, Director of the European Centre for Energy and Resource Security (EUCERS) at Kingâs College London. It is not a political retaliation or a âcounter-sanctionâ, but above all a business decision: South Stream had become far too expensive in the current stagnant European gas market. … [Read more...]
Gazprom CEO Alexei Miller: âThis is the beginning of the end of Gazpromâs business model in Europeâ
Following last weekâs announcement on the South Stream project cancellation, last Saturday (6/12) Gazprom CEO Alexei Miller gave an extensive interview to a major Russian TV channel, Russia 24. In his interview Mr Miller explains the reasons for abandoning South Stream, outlines Gazpromâs prospects of the new gas delivery route through Turkey and touches upon the projectâs financial aspects. … [Read more...]
What Eon and Gazprom have in common
What does Eonâs change in corporate strategy and Gazpromâs decision not to build South Stream have in common? Quite a lot. Both decisions are responses to the increasing speed in which Europe is moving towards a low-carbon society. Both are also bold and risky decisions for the two companies involved. The rest of us probably need not be (too) concerned, writes Energy Post editor Karel Beckman. … [Read more...]
In the new energy security war, Europe has the upper hand over Russia, say top US officials Â
Concerns about energy security have shot to the top of the political agenda in Europe. But the US has no intention of letting the EU down. âThe United States will be working with the EU to develop a plan for the mid- to long-term evolution of a more energy-secure futureâ, said US Secretary of Energy Ernest Moniz at a conference of the Atlantic Council in Istanbul. At this summit, top US officials and energy experts showed themselves surprisingly … [Read more...]
Junckerâs âŹ300bn investment gamble â and what it might mean for energy
The EU and European Investment Bank (EIB) have teamed up to launch a new investment programme for Europe â with energy, as well as transport, research, innovation and education, its key objects. A modest âŹ21bn in public money is set to be multiplied up to a whopping âŹ315bn in total investments over the next three years, pushing Europe toward that long-hoped for economic recovery. There is no dedicated share of the money for individual sectors or … [Read more...]
Fossil-fueled Republicanism: what to expect from the new US Congress
While more and more people around the world are coming to recognize the need for restraints on fossil fuel consumption, the new Republican-dominated Congress will lead the United States in the opposite direction, writes Michael Klare, author of many books and articles on energy policy. Klare outlines the energy policies the Republicans in Congress are likely to pursue and explains what is behind their fervent commitment to oil and gas. In an … [Read more...]
Brussels gives first glimpse of what it means by âEnergy Unionâ
Career diplomat MaroĆĄ Ć efÄoviÄ from Slovakia gave the first glimpse of what the EU's "Energy Union" may look like during his hearing at the European Parliament on Monday night for the post of Europeâs Vice President Energy Union. Ć efÄoviÄ believes in common purchasing of gas and the Southern Corridor (but opposes South Stream), regards the internal market as the backbone of the Energy Union, supports the UKâs state aid to the nuclear power plant … [Read more...]
Analysis: âEU can cut natural gas imports by half, achieve 49% carbon reductionsâ
By ramping up cost-effective investments in renewable energy and energy efficiency the European Union can cut its dependency on natural gas imports in half, according to a new analysis. Carbon reductions of 49% or more could be achieved below the 1990 level by 2030 â far more than currently proposed. The study Increasing the EUâs Energy Independence: A No-Regrets Strategy for Energy Security and Climate Change was written by international … [Read more...]
Exporting a revolution: why the US LNG stampede will change the gas business forever (part 2)
The time for doubt is past. The US is well on its way to becoming a major LNG exporter â on a scale to rival Qatar and Australia. In part 2 of this two-part series, energy journalist Alex Forbes reviews the implications of what he is convinced will be the next gas revolution to come out of the United States. (Part I was published on 14 October here.) … [Read more...]
Exporting a revolution: why the US LNG stampede will change the gas business forever
The time for doubt is past. The US is well on its way to becoming a major LNG exporter â on a scale to rival Qatar and Australia. Export capacity could exceed 100 million tonnes per year by the early 2020s â 40% of the current global market. The US Department of Energy certainly seems to think so. The implications of this are profound: for US gas consumers, for natural gas markets around the world, and for proposed LNG export projects elsewhere. … [Read more...]
Italian EU Presidency falls down on energy policy
With a final decision on the 2030 framework for EU climate and energy policy approaching, and a highly unstable international energy situation, the Italian Presidency of the EU should focus squarely on energy. However, the Italian energy effort is vague, focused on the short term and fails to initiate the measures the EU and Italy need to solve the energy and climate crisis, writes energy journalist and economist Lorenzo Colantoni. … [Read more...]
Carefully prepared Cañete dogged by conflict of interest
The candidate for EU Climate and Energy Commissioner, Miguel Arias Cañete from Spain, demonstrated an impressive grasp of his subject matter at his hearing at the European Parliament on Wednesday night in Brussels. But he failed to answer repeated questions about his brother-in-lawâs involvement in two oil-related companies. Today, his future hangs in the balance as he becomes a hostage in a fight between the Parliamentâs different political … [Read more...]
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