Natural gas can only be a worthwhile bridge to a low carbon future if a series of tough conditions are met, according to a working paper from the influential New Climate Economy initiative. The paper says the climate benefits of gas, including shale gas, could in theory be significant. It suggests a 10% increase in global gas supplies could prevent 500 gigawatts (GW) of new coal capacity being added by 2035, avoiding 1.3 billion tonnes of annual … [Read more...]
Exclusive – JĂ©rĂ´me Ferrier, President International Gas Union: “You cannot equate gas with coal or oil. You have to discriminate!”
Natural gas can help safeguard the planet: it can become the world’s major energy source, be a factor for peace and help save the climate, says JĂ©rĂ´me Ferrier, President of the International Gas Union (IGU) and the French Gas Association in an interview with Energy Post. But, he adds, to enable gas to fulfill these roles, policymakers will have to make a clear choice in favour of gas over oil and coal. “They have to discriminate!” … [Read more...]
World’s largest investment fund from Norway set to divest from coal
The Finance Committee of the Norwegian Parliament has issued a unanimous recommendation to divest the country’s sovereign wealth fund from the coal industry. The Norwegian Government Pension Fund Global (NGPFG) is the world’s largest sovereign wealth fund and one of the top ten investors in the global coal industry. Environmental organisations are elated. They expect that many billions of euros will be withdrawn from the coal sector. … [Read more...]
Why Shell can’t quit the Arctic
Despite the damage to its reputation, Shell insists on continuing its controversial Arctic campaign. The company says that the world needs the oil and gas resources of the Arctic. But according to Energy Post’s editor-in-chief Karel Beckman, it’s really Shell itself that needs those resources. … [Read more...]
Greece and Iran: two old friends can change the geopolitics of energy in Europe
Greece, which has long had friendly relations with Iran, is poised to play a key role in distributing Iranian to gas to Europe, if Iranian sanctions are lifted. With Iran in the equation, the energy geopolitics of the region – and thereby the rest of Europe – will look very different from what they are today, write Christos Brakoulias, Constantine Levoyannis and Dr. Angelos Gkanoutas-Leventis of the Greek Energy Forum (GEF) in Brussels. … [Read more...]
Less worldly, more wise: a letter to Ben van Beurden, CEO of Shell
In a speech given in London in February, Ben van Beurden, CEO of Shell, called on the energy industry to be "less aloof, more assertive" in the debate about climate change. Van Beurden stressed that "the world's energy needs will underpin the use of fossil fuels for decades to come" and called for "realism and practicality". In a speech given in Paris in March, John Ashton, independent speaker, former UK Special Representative for Climate Change … [Read more...]
GlobalData: Russia’s oil production will continue to grow despite low oil prices
Russian oil production has grown by 1 million barrels per day (bpd) over the last decade to a post-Soviet record of 10.6 million bpd in 2014. In the next five years the factors that were behind this production surge will remain in place, regardless of oil prices, says Anna Belova, GlobalData's Upstream Analyst covering the Former Soviet Union. The Russian oil and gas industry is “relatively self-sufficient”, Belova adds. … [Read more...]
The carbon capture conundrum: is CCS a climate saver? Or a dangerous distraction?
With fossil fuels expected to provide the bulk of the world’s primary energy needs for the foreseeable future – despite the rapid rise of renewables – carbon capture and storage (CCS) is seen by many as an essential technology if we are to keep global warming within the 2°C limit that scientists recommend. "For many industrial processes, it's the only thing we have." … [Read more...]
EU investigation Gazprom comes at the wrong time
The timing of the EU's investigation of Gazprom further exacerbates tensions with Russia, notes Friedbert PflĂĽger, Director of the European Centre for Energy and Resource Security (EUCERS), King’s College London. PflĂĽger warns that if the EU and Russia continue to be on a collision course, both sides will lose. … [Read more...]
Adriaan – ‘Energy for One World’ – Kamp (ex-Shell): “Strategy of oil companies is doomed to failure”
Oil companies like Shell have unique skills that make them ideally placed to help build the energy world of the future. Yet they seem unable to look beyond their own interests, says Adriaan Kamp, former Shell manager and founder of Oslo-based consultancy Energy For One World. “Like the banks, they can’t change their ways. They are still making too much money with oil and gas.” According to Kamp, the growth strategy of the oil companies is still … [Read more...]
EU takes on Gazprom: “abusing dominant position, charging unfair prices”
The European Commission has accused Gazprom of imposing unfair gas prices in five EU member states – Latvia, Lithuania, Estonia, Bulgaria and Poland – through abuse of its dominant market position. This constitutes a breach of EU anti-trust rules. … [Read more...]
Top 12 media myths on oil prices
The upstream oil and gas industry is not a black hole, writes Dan Doyle, president of Reliance Well Services, a hydraulic fracturing company based in Pennsylvania. “There's no mystery wrapped in an enigma here.” Doyle “sets the record straight” on 12 “media myths” about oil and gas prices. Well, 11 really. … [Read more...]
Greece: Russian backdoor to fortress Europe?
An alliance between Greece and Russia could have far-reaching consequences for EU-Russia energy relations and for the success of the EU’s energy policy in South Eastern Europe, writes Constantine Levoyannis, Deputy Head of the Greek Energy Forum in Brussels. According to Levoyannis, it could open the door for Gazprom’s proposed gas pipeline Turkish Stream and even lead to a rapprochement between Turkey and Greece. … [Read more...]
Dramatic shale gas plea falls on deaf ears in Paris, but Brussels “opens back door to fracking”
A report from the French Ministry of the Economy and Industrial Recovery concludes that France could have its own shale gas revolution, with hundreds of billions in revenues and hundreds of thousands of new jobs. What is more, with the help of a unique new technology, based on propane stimulation, the shale gas could be produced without harm to the environment. The report, already produced in June 2014, was, however, ignored by the French … [Read more...]
No shale gas in Eastern Europe, after all: implications of Chevron’s exit from Romania
Chevron’s decision to give up on Romanian shale gas exploitation, after earlier having departed from Poland and Lithuania, marks the final departure from the US company’s Eastern European shale gas adventure. According to Anca Elena Mihalache, Senior Analyst with the Bucharest-based Energy Policy Group, Chevron’s exit makes it clear that there is little hope for successful shale gas development in Central and Eastern Europe. She hopes that … [Read more...]
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