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 Ĺoskot-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 PflĂźger, 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...]
Could falling oil prices spark a financial crisis?
To what extent are financial investors exposed to the oil sector? And what will happen on the financial markets if oil stocks and oil companies go under on a large scale? We are far from a crisis yet, writes Nick Cunningham of Oilprice.com. But, he adds, falling oil prices are not just a problem for oil companies. … [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...]
US national interest requires clean energy, not fossil fuels
Many vested interests with short-term perspectives are fighting to maintain US dependence on fossil fuels. The long-term national interest, however, requires that the US makes a speedy transition to a clean energy society, writes energy expert Allan Hoffman. According to Hoffman, the shale revolution is only a temporary phenomenon. A continued reliance on oil and gas will imperil the nationâs future. … [Read more...]
Can we use gas as a ‘bridging fuel’ to a low carbon world?
Gas can be a bridge fuel, displacing coal and reducing carbon emissions, concludes a new report from the UK Energy Research Centre. But only for the next twenty years, and only if the world sorts out carbon capture and storage (CCS) and sees a dramatic cut in coal use. Christian Hunt of the Carbon Brief has the story. … [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...]
The Five Energy Labours of Juncker
The new team heading the European Commission in Brussels is lucky. Its predecessors closed two sensitive deals before the reshuffle: a European energy and climate strategy for 2030 and a gas winter package between Ukraine and Russia. On top of that, outgoing Energy Commissioner GĂźnther Oettinger finished off a thick report on the way forward for a European energy market. The new Commission will follow up on these three dossiers, plus two more … [Read more...]
Let’s not forget those fossil fuel subsidies
The IEAâs World Energy Outlook (WEO), published on 12 November, has â not for the first time â put the spotlight on the huge subsidies given worldwide for the use and production of fossil fuels. And these do not include other costs (e.g. the hundreds of billions in US military spending to garrison the Middle East) and externalities caused by our oil, gas and coal use. Sophie Vorrath of RenewEconomy presents the main figures from the WEO. … [Read more...]
Worldâs first power-to-liquids production plant opened in Dresden
A Power-to-Liquids (PtL) demonstration rig which is the first of its kind in the world was officially inaugurated on 14 November by Dresden-based sunfire GmbH. The ceremony was attended by German Federal Minister of Education and Research Johanna Wanka, Board Member Pieter Koolen of venture capitalist Bilfinger, Â as well as a number of other high-ranking representatives from the worlds of politics, industry and research. French energy companies … [Read more...]
Wishing away lignite – EU climate policy ignores elephant in the room
While mining and combustion of lignite impose high burdens on the environment, Europeâs least expensive fuel remains impervious to climate policies or market trends. Poland remains committed to lignite power generation. In Germany, the worldâs largest lignite industry provides backup electricity for nuclear phase-out and renewable power intermittency. Mediterranean sunshine has not kept Greece and Turkey from relying on lignite rather than … [Read more...]
viEUws VIDEO: Brussels Briefing on Energy – All you need to know for November 2014
In this latest Brussels Briefing on Energy viEUws.eu, leading energy journalist Hughes Belin provides anoverview of the latest EU energy policy developments: … [Read more...]
Outcome of nuclear talks could make Iran an Energy Superpower â even in renewable energy
An international settlement by November 24 could put Iran on a path to becoming an energy superpower, says Friedbert PflĂźger, Director European Centre for Energy and Resource Security (EUCERS) at Kingâs College. And not just in fossil fuels â but even in renewable energy, which Iran now supports with feed-in tariffs and currency guarantees for foreign investors. US Secretary of State John Kerry meets with his counterpart this weekend. … [Read more...]
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