Russia's first Arctic offshore field Prirazlomnoye, where Greenpeace activists were arrested in September after a high seas clash with Russian authorities, has started production of oil, the Moscow Times reported last Friday based on information from Gazprom. "We became the pioneers of Russia's Arctic development," Gazprom's chief executive officer Alexei Miller said in a statement. President  Vladimir Putin has said Russia's Arctic offshore … [Read more...]
Archives for December 2013
Rosatom signs contract to build nuclear plant for Fennovoima in Finland
Interview with Chairman Pekka Ottavainen: “It was a very simple choice”. The Finnish company Fennovoima has signed a contract with Rosatom to build a 1200 MW greenfield nuclear power plant, Hanhikivi I, in Pyhäjoki in northern Finland. It is the first time in the post-Soviet era that the Russian company will be building a new nuclear power station in the EU. The plant will cost roughly €6 billion and will deliver electricity at “no more than … [Read more...]
“European gas market will go from very tight to strongly competitive”
The European gas market will see “strong competition in the future”. This means that despite declining domestic production, Europe’s dependence on Russian gas will not increase over the long term. In the short term, however, over the next five years or so, Europe’s gas market could become very tight and Russia’s position will be stronger than ever. These are the expectations of energy expert Tatiana Mitrova of the Energy Research Institute of the … [Read more...]
Eastern Mediterranean Gas – Plea for a peace pipeline!
To exploit the exciting new gas reserves in the Eastern Mediterranean in the most profitable way, both economically and politically, the best option is to build a pipeline from Israel’s Leviathan field via Cyprus to Turkey, argues Friedbert PflĂĽger, Director of the European Centre for Energy and Resource Security (EUCERS) at King’s College London. Such a pipeline is less costly than an LNG terminal in Cyprus – and it could serve as an instrument … [Read more...]
VIDEO: Brussels launches state aid probe into Cameron’s nuclear project
Hughes Belin, leading energy journalist at viEUws.eu, looks into the merits of the Commission’s decision to open a state aid probe into the new nuclear power project at Hinkley Point C in the United Kingdom. The European Commission is currently carrying out and in-depth investigation of the business model of the Hinkley Point C nuclear power project. Competition Commissioner Joaquin Almunia has doubts with regard to the compatibility of the UK … [Read more...]
Investment funds not prepared for climate risk
The second ever Global Climate Investment Index, which demonstrates how the world’s biggest investors are managing climate risk, reveals that many investment funds are setting investors up for massive losses due to their exposure to climate risks. At the same time, the Asset Owners Disclosure Project’s 2013/14 (AODP) shows that the world’s investment system is capable of driving the low carbon transition. The Asset Owners Disclosure Project’s … [Read more...]
2014: the year of energy storage
Energy storage: it’s no longer a problem, it’s become a huge business opportunity. As one market watcher recently put it: “The energy storage industry is in the early stages of what will become a giant global market”. As with any new market, however, it is difficult for participants to find reliable information. Fortunately, there is now the interactive International Energy Storage Database (IESDB) of the US Department of Energy (DoE), which … [Read more...]
VIDEO: “Europe needs to adjust its climate policy”, claims Polish Climate Secretary of State
Hughes Belin, leading environment journalist at viEUws.eu, is joined by Marcin Korolec, Polish Secretary of State for Climate to discuss the outcome of the COP19 negotiations - the 19th Conference of Partners of the United Nations Framework Convention on Climate Change - in Warsaw and theEuropean Union’s perspective on tackling climate change. Poland’s Secretary of State for Climate is also the president of the UN climate talks until the next … [Read more...]
IEA: coal unsustainable but here to stay
Tougher Chinese policies aimed at reducing dependency on coal will help restrain global coal demand growth over the next five years, the International Energy Agency (IEA) says in its annual Medium-Term Coal Market Report released today. Despite the slightly slower pace of growth, however, coal will meet more of the increase in global primary energy than oil or gas - continuing a trend that has been in place for more than a decade. "Like it or … [Read more...]
What if one third of Australians choose to go off-grid?
The Australian national science agency CSIRO has undertaken a study into how the electricity grid in Australia could develop over the coming decades. Giles Parkinson, editor-in-chief of the Australian website RenewEconomy, discusses the four scenarios that SCIRO explores: “leaving-the-grid”, in which one-third of Australian consumers go off-grid; “prosumer” , which is similar but has active utility companies that lead the transition; “renewables … [Read more...]
EU energy ministers unable to agree on biofuels policy
Ministers in the Transport, Telecommunications and Energy Council on 12 December held an in-depth discussion on a revised version of the draft text, which aims to minimise the impact of land use change on greenhouse gas emissions. The draft indirect land use (ILUC) directive aims to promote the move towards biofuels while limiting the possibility of increased greenhouse gas emissions due to increased biofuels production. It will amend the … [Read more...]
New gas discoveries in southern periphery may transform European energy landscape
Cyprus may have what it takes to become an important gas supplier and energy hub for Europe. Natural gas discoveries in the country's offshore areas could form the foundation of a large liquefied natural gas (LNG) terminal in Cyprus, additionally supplied by gas from Israel. The creation of such a “second Southern Corridor” would give an important economic boost to southeast Europe, significantly improve European security of energy supply and … [Read more...]
Interview EU Climate Chief Connie Hedegaard: “Climate policy cannot be based on emission reduction alone”
The European Union should adopt EU-wide targets for renewable energy and energy efficiency for 2030, says Climate Commissioner Connie Hedegaard in an interview with Energy Post. She rejects pleas from the energy sector to base EU climate policy solely on CO2 emission reduction targets. She does note, however, that there has been a tendency to “overcompensate” renewable energy, i.e. too generous subsidies. “It was never the plan to subsidise … [Read more...]
IRENA presents unique overview of renewable energy costs
The International Renewable Energy Agency (IRENA) has launched a “unique web portal dedicated to renewable energy cost analysis.” The portal provides access to IRENA’s data and analysis at no cost to users. “IRENA has developed the most current and comprehensive global database of renewable energy project costs available to the public. Our new portal makes this resource available for policy makers, businesses and the renewable energy community … [Read more...]
EBRD will not finance coal-fired power plants anymore
The European Bank for Reconstruction and Development (EBRD) has adopted a new strategy that will guide its investments in the energy and natural resources sector for the next five years. In this strategy the Bank – already the largest investor in renewable energy and energy efficiency projects in its region of operations – in its own words "sets out a commitment to helping its countries of operations move toward a sustainable energy … [Read more...]