The drop in global oil prices is hastening the decline of Norwayâs already slowly declining oil industry as new oil projects are being scrapped and workers are laid off. Norway may need to begin building a post-oil economy sooner than it thought, writes Nick Cunningham of Oilprice.com. … [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...]
To cut carbon emissions and keep the lights on, it has got to be nuclear power
Crunch time is here: energy security and affordability concerns are colliding with the need to reduce CO2 emissions, writes Malcolm Grimston of Imperial College London. That's why the UK government is right to want to get new nuclear power plants built, argues Grimston. (See the previous article, by Peter Strachan and Alex Russell of Robert Gordon University. for a different viewpoint.) … [Read more...]
UK nuclear policy takes another step in the wrong direction
In its annual National Infrastructure Plan, published on 2 December, the UK government announced it has signed a cooperation agreement with Toshiba, GDF Suez and NuGen toward the financing of a new 3.4 GW nuclear power plant at Moorside. This is one of three new nuclear megaprojects being planned in the UK, next to Hinkley Point C (3.3GW) and Wylfa Newydd (3GW). The UK plans to spend ÂŁ45 billion on these projects until 2021 and hopes to raise … [Read more...]
Russian-built new nuclear reactor gets go-ahead in Finland
The Finnish Parliament has today on 5 December voted 115 to 74 in favour of Fennovoimaâs supplement to the Decision-in-Principle regarding the construction of a new nuclear power plant in Pyhäjoki, Finland. In a press release, the Finnish Parliament states: âThe Finnish Government, the Commerce Committee of the Parliament and now the plenary session felt that in accordance with the Nuclear Energy Act, Fennovoima's project remains in the overall … [Read more...]
Lima: a trillion reasons why climate talks may still fail
Hopes are high at the UN Climate Conference that has started this week in Lima, Peru. There are many signs that a turning point has been reached, writes Giles Parkinson of Reneweconomy.com. But the hurdle is still high: to meet the 2C target, two-thirds of known fossil fuel reserves have to stay in the ground, costing the oil and coal sector $1 trillion a year in lost revenue. … [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...]
Eon’s new strategy: focus on renewables, distribution, customer solutions, get out of old power generation
Eon, the largest German energy company, will henceforth âfocus on renewables, distribution networks, and customer solutions and combine its conventional generation, global energy trading, and exploration and production businesses in a new, independent company, a majority of which will be spun off to Eon SEâs shareholders. … [Read more...]
IEA: coal, nuclear, shale should be part of EU energy mix, Energy Union should not be buyersâ cartel
The European Union âhas made progress in liberalising energy markets, and its global leadership on climate change is to be commendedâ, the International Energy Agency (IEA) said today as it released its review of EU energy policies. But the IEA also had criticisms to make. … [Read more...]
EU power system largely ready for winter, but only thanks to interconnections: ENTSO-E report
The Winter Outlook Report from ENTSO-E, Europe's electricity transmission system operators, shows that overall generation will be sufficient to cover demand this winter, even under severe conditions. However, the report notes that many countries will need imports to meet their demand. Risks due to generation shortages are identified for some countries, such as Belgium, and to a lesser extent Great Britain. The report also looks at the possibility … [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...]
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...]
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...]
Maria van der Hoeven, Executive Director IEA: âThe energy security challenge has become globalâ
Not so long ago âenergy security was seen primarily as a concern of industrialised countriesâ, but today âthe challenge has become globalâ, says Executive Director Maria van der Hoeven of the International Energy Agency (IEA) in a recent interview with World Energy Focus, a publication of the World Energy Council. And it extends beyond oil. âWith oil we are doing well. But I do worry when we take a broader definition of energy security.â … [Read more...]
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