The good news from the BP Energy Outlook 2035, presented on 15 January, is that there will be no problem meeting the world’s energy demand over the next two decades. When it comes to availability of energy, “there is no problem”, said BP’s Group Chief Economist Christof RĂĽhl at the presentation of the report in London. BP’s CEO Bob Dudley said BP is “optimistic for the world’s energy future”. The fourth edition of BP’s annual  Energy Outlook … [Read more...]
Dutch green gas initiatives launched
The Groningen based gas trading company GasTerra closed the largest Green Gas deal of the Netherlands. GasTerra will buy 23 million m3 renewable gas annually , sufficient for 15,000 households. The gas comes from a company called BioRights that develops a production location in Hardenberg to convert biomass into second generation biofuels. The biogas produced is upgraded to natural gas quality and fed into the gas grid of Gasunie. Also bioethanol … [Read more...]
Peak oil is dead. Long live peak oil!
Peak oil theory has been replaced with a new theory that might be called “techno-dynamism”. It holds that there is no limit to the amount of oil as long as the industry can apply its technological wizardry to oil production. However, there are three problems with this theory: technology costs keep going up, political and environmental risk keeps mounting, and climate policies will suppress demand which will in turn discourage invesment. The … [Read more...]
The five global implications of shale oil and gas
Much has been said about the shale (oil and gas) revolution, but according to Christof RĂĽhl, Group Chief Economist and Vice-President of BP, its real implications have yet to sink in. He points out, for example, that no detailed assessment has been made yet of its macro-economic impacts. In this wide-ranging analysis, RĂĽhl – one of the world’s most influential energy economists – discusses some of the major implications of shale. He notes that as … [Read more...]
The greatest business opportunity of our time
Amory Lovins, the founder of the famous Rocky Mountain Institute in Colorado, has written a book in which he presents an energy future without coal, oil or nuclear power. Yet he insists his is not a green or left-wing vision. On the contrary, it will save money and create wealth. “The energy transformation is the greatest business opportunity of our time.” … [Read more...]
Gazprom: “We are the pioneers of the Arctic”
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...]
“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...]
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...]
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...]
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...]
Britain converts its largest coal-fired power station in renewable energy producer plus major CCS project
Britain’s largest coal-fired power station is set to become one of Europe’s biggest renewable electricity generators today, with the potential for new future generation on the site to be based on truly clean coal. That has been announced by the Department of Energy Climate and Change (DECC) on 9 December. Energy and Climate Change Secretary Edward Davey opened the Drax coal-to-biomass conversion plant, and announced the Government was awarding … [Read more...]
How Ankara is pushing Arbil and Baghdad to an oil deal that will change the global energy market
Iraqi-Kurdistan is on the verge of becoming one of the world’s major oil exporters. Second only to the shale revolution in the United States, the oil and gas explorations there have the potential to change the global (and European) energy landscape. The only shadow hanging over this prospect is the political strife between the Kurdish Regional Government in Arbil and the central Iraqi government in Baghdad. But recently the likelihood of a … [Read more...]
Viewpoint: European gas industry needs paradigm shift
The European gas industry should “stop complaining” and ask itself what it can offer to society to help bring about the transition that people demand, writes Wim Groenendijk, Head of International and Regulatory Affairs at the Dutch transmission system operator Gasunie. “As the ones who are looking after the energy supply, we should take our responsibility.” … [Read more...]
Energy Community: upgrading power plants in Eastern Europe delivers huge benefits
The Energy Commuity, the energy associaton of Albania, Bosnia and Herzegovina, Kosovo, Macedonia, Moldova, Montenegro, Serbia and Ukraine, has published a study assessing the costs and potential benefits of modernizing large combustion plants in their countries to comply with EU environmental regulations. According to the study, the benefits of complying with EU environmental law are on average 17 times as large as the costs of compliance. This … [Read more...]
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