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...]
WTO should go for Global Green Growth trade deal
The trade facilitation agreement reached by the WTO last Saturday is only a modest step towards a global trade deal. What the world needs now, writes John Mathews, is a Global Green Growth trade deal that would not only enhance the stature of the WTO, but would deliver huge investment in green growth – and far more secure cuts in carbon emissions than any Kyoto-style agreement could ever achieve. … [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...]
Give Iran a chance to be tested
The interim-deal with Iran should be given a fair chance, argues Friedbert PflĂĽger, Director of the European Centre for Energy and Resource Security (EUCERS). The world economy would benefit if Iranian oil and gas exports could be restored. The climate would benefit if the massive flaring of gas in Iran and the prevailing energy inefficiency could be reduced and renewable energy investments stimulated. … [Read more...]
IEA expands cooperation with “partner countries” and issues strong statement on climate
The International Energy Agency and six "partner countries" – Brazil, China, India, Indonesia, Russia and South Africa – on Wednesday for the first time expressed their mutual interest in pursuing a stronger, more enhanced form of multilateral co-operation. The Joint Declaration on Association was issued at the end of the 2013 IEA Ministerial Meeting. Chaired by Turkish Minister of Energy and Natural Resources Taner Yildiz, the IEA Ministerial … [Read more...]
A likely way forward for global LNG and gas markets
US exports of LNG may be able to open up and integrate global gas markets, but only if there is enough gas – and if it gets to the market in time, writes Matteo Mazzoni of Italian research company NE Nomisma Energia. If not, it will find the window of opportunity closed by new pipelines and geopolitical arrangements. A look ahead at how world gas markets may develop. … [Read more...]
Egypt marches to a Saudi drummer
Saudi Arabia's foreign policy is primarily directed at two enemies: Iran and the Muslim Brotherhood. The Saudis, writes foreign policy analyst Felix Imonti, are now planning to merge numerous fighting units in and outside of Syria into an Army of Mohammed. But where to base it? The obvious choice, says Imonti, is Egypt, now that the pro-Saudi Egyptian army has ousted the Muslim Brotherood. … [Read more...]
Exclusive interview IEA-Director Maria van der Hoeven: “We cannot rule out new revolutions”
In its new World Energy Outlook (WEO), the IEA is cautious about the prospects of unconventional oil and gas outside the US. As regards shale gas, it notes that “uncertainty remains over the quality, the costs and public acceptance.” Yet in an interview with Energy Post, IEA Executive Director Maria van der Hoeven notes that “the gas is there. All geologists are agreed on that.” Moreover, “there may be other surprises in store, for example with … [Read more...]
IEA in World Energy Outlook: no oil abundance in sight
Technology and high prices are opening up new oil resources, but this does not mean the world is on the verge of an era of oil abundance, according to the International Energy Agency’s (IEA) 2013 edition of the World Energy Outlook (WEO-2013). Although rising oil output from North America and Brazil reduces the role of OPEC countries in quenching the world’s thirst for oil over the next decade, the Middle East – the only large source of low-cost … [Read more...]
Why an EU-US trade deal matters for the energy sector
This week the second round of negotiations for an EU-US free trade agreement is taking place. Energy has not been making headlines in the context of these talks, but a TTIP (Transatlantic Trade and Investment Partnership) will have far-reaching implications for the energy sector, e.g. with regard to oil sands, LNG and shale gas. NGO’s worry that the TTIP will give big business the chance to undermine Europe’s environmental legislation. Sonja van … [Read more...]
Oil Espionage: US and UK tapped OPEC
News supplied by Commondreams.org written by Lauren McCauley Both the NSA and the U.K. spy agency, GCHQ, have infiltrated the computer networks of the Organization of the Petroleum Exporting Countries (OPEC), according to documents disclosed by whistleblower Edward Snowden and reported on by Der Spiegel Monday. As critics note, this latest disclosure illustrates, once again, the expanse of the U.S. and U.K. spy networks and the breadth of their … [Read more...]