[er(a)mbiente.net] ... energy & climate hub [news][ita]
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:\timeline> 2014| 2013| 2012|
:\Global GHG Emitters> infographics
:\atmospheric CO2 (Aug 2015)> 398.82 ppm (397.01 Aug 2014)
:\GDR climate equity reference calculator> global effort sharing

:\ CRUDE OIL September 22> wti (nymex): 45.69$/b(10:30)|45.63(w)|53.46(aug) - brent (nymex): 48.06$/b(10:30)|47.71(w)|47.95(aug) - opec (basket): 43.81$/b(10:30)|44.16(w)|44,67(aug)
:\ NATURAL GAS September 22> henry hub US (ice): 8.76$/MWh(10:30)|9.21(w)|9.23(aug) - ttf-Ned EU (pwn): 18.80€/MWh(10:30)|19.27(w)|19.42(aug) - LNG East Asia (cme): 24.21$;/MWh(10:30)|25.76(w)|27.34(aug)
:\ COAL September 22> Centr App-US (ice): 42.13$/st(10:30)|42.50(w)|42.90(aug) - cif NW-EU (ice): 54.00$/st(10:30)|53.87(w)|55.93(aug) - cfr South China (ice): 49.40$/st(10:30)|49.35(w)|50.34(aug)
:\ CO2 September 22> EUA (eex): 7.98€/t(10:30)|8.21(w)|8.01(aug)

WORLD NEWS

» September 22 2015 - #EnergyPolicy #EnergyTransition #RenewableEnergy #SustainableEnergyFlow #ScientificPaper [by arxiv.org] The transition from a fossil-based energy economy to one based on renewable energy is driven by the double challenge of climate change and resource depletion. Building a renewable energy infrastructure requires an upfront energy investment that subtracts from the net energy available to society. This investment is determined by the need to transition to renewable energy fast enough to stave off the worst consequences of climate change and, at the same time, maintain a sufficient net energy flow to sustain the world's economy and population. We show that a feasible transition pathway requires that the rate of investment in renewable energy should accelerate approximately by an order of magnitude if we are to stay within the range of IPCC recommendations [arxiv.org]

» September 18 2015 - #EnergyPolicy #TechnologyEnergyRevolution #US [by energy.gov] #The2015QuadrennialTechnologyReview (#QTR). America is in the midst of an energy revolution. Over the last decade, the United States has slashed net petroleum imports, dramatically increased shale gas production, scaled up wind and solar power, and cut the growth in electricity consumption to nearly zero through widespread efficiency measures. Emerging advanced energy technologies provide a rich set of options to address our energy challenges, but their largescale deployment requires continued improvements in cost and performance. Technology is helping to drive this revolution, enabled by years to decades of research and development (R&D) that underpin these advances in the energy system. The energy revolution underway creates additional opportunities for technologies and systems with superior performance and reduced costs. The convergence of many energy sectors-such as the electric grid, electricity production, buildings, manufacturing, fuels, and transportation-into systems linked through information and communications technologies (ICT), advanced modeling and simulation, and controls, has the potential to revolutionize energy services throughout the economy at the component, device, and system levels. The QTR also identifies enabling science opportunities and cross-cutting technologies and disciplines that may impact multiple sectors. These advances can enable the United States to address pressing national energy challenges-security, economic vitality, and climate change. The 2015 Quadrennial Technology Review (QTR) examines the status of the science and technology that are the foundation of our energy system, together with the research, development, demonstration, and deployment (RDD&D) opportunities to advance them. It focuses primarily on technologies with commercialization potential in the midterm and beyond. It frames various trade-offs that all energy technologies must balance across such dimensions as cost, security and reliability of supply, diversity, environmental impacts, land use, and materials use. Additionally, it provides data and analysis on RDD&D pathways to assist decision makers as they set priorities, within budget constraints, to develop more secure, affordable, and sustainable energy services. QTR 2015 complements the work of the Quadrennial Energy Review (QER), which focuses on energy infrastructure and government-wide energy policy. Insights gained from these analyses provide important information for stakeholders and decision-makers in government, industry, academia, and civil society who together form our national energy enterprise. [energy.gov]

» September 17 2015 - #EnergyPolicy #EnergyUnion #DecarbonizingEurope [by #EuropeanEnergyJournal] #EnergySecurity is one of the main problems that humanity faces today and the European Union (EU) has to rely on energyrich countries for its energy needs. The European Innovation Union, the Energy Community, and the Europe 2020 initiative address energy security as a priority, but policies seem to be reactive instead of addressing energy security in its complexity. This problem can be solved with appropriate legal tools. #EnergyGovernance has links with several policies: trade, investment, EnvironmentalProtection, energy transit, energy security, finance, et cetera. Of these policies, energy trade has a high impact for European energy security policy. Currently, the international community does not address trade in energy as a cohesive entity and its governance is fragmented. The paper explores the institutional legal framework for the creation of a European energy union, whose aim is to achieve affordable, secure and sustainable energy. This energy union is based on five pillars, which are analyzed: security, solidarity and trust; the completion of a competitive internal market; moderation of demand; the decarbonization of the EU energy mix (i.e., greater use of renewable energy); and technologies. The EU is the first region in the world to set up the ambitious target of decarbonizing its economy by 2050. The paper then looks at the energy union in the context of the rule of law. All of this could be reproduced in other regions of the world and eventually create a new international energy order. This requires a fresh and comprehensive approach to legal instruments [ssrn.com]

» September 16 2015 - #ClimateChange #LowCarbonEconomy #GreenEconomy [by goldstandard] Webinar, World Bank Group and Gold Standard Foundation. Tuesday, Sept. 22 2:30pm EST - 4:00pm. The World Bank Group Climate Change team collaborated with The Gold Standard Foundation as part of the 'Scaling up Climate Action in Cities' initiative (FY12-15). This initiative developed and incubated, innovative programmatic frameworks and tools to enable cities to define and pursue goals of low carbon, sustainable development and green growth. The WB initiative worked with urban practitioners through an online platform and, in partnership with WB Regional teams supported the development of Rio Low Carbon City Development Program (LAC), Metro Colombo Green Growth Program Blueprint (SAR), Cali Green Growth Program Blueprint (LAC) and support to Amman Green Growth Program (MNA). The initiative resulted in several innovations, including a multi-tier assessment framework for the identification and measurement of green growth (sustainability) benefits. The Gold Standard Foundation developed the MRV framework that verifies and validates the sustainability outcomes of the urban green growth programs. A summary of the initiative’s results will be presented at the BBL [goldstandard.org]

» September 15 2015 - #Oil #Iea #SeptemberOilMarketReport [by iea] Low price seen triggering largest cut in non-OPEC supply in more than two decades, raising "call" on OPEC in 2016. The latest tumble in the price of oil, which hit a six-year low in August, is expected to cut non-OPEC supply in 2016 by nearly 0.5 million barrels per day (mb/d) - the biggest decline in more than two decades, the IEA Oil Market Report for September informed. Lower output in the United States, Russia and North Sea is expected to drop overall non-OPEC production to 57.7 mb/d. US light tight oil, the driver of US growth, is forecast to shrink by 0.4 mb/d next year. OPEC crude supply fell by 220000 barrels per day (220 kb/d) in August to 31.57 mb/d, led by declines in Saudi Arabia, Iraq and Angola. The group's output stood 1.2 mb/d higher than a year earlier. The "call" on OPEC climbs to 31.3 mb/d in 2016, up 1.6 mb/d year-on-year as lower prices dent non-OPEC supply and support above-trend demand growth. Global oil demand growth is expected to climb to a five-year high of 1.7 mb/d in 2015, before moderating to a still above-trend 1.4 mb/d in 2016 thanks to lower oil prices and a strengthening macroeconomic backdrop [iea.org]

» September 15 2015 - #Oil #Opec #MonthlyOilMarketReport [by opec] September 2015. Oil market highlights. Crude Oil Price Movements. The OPEC Reference Basket fell below $50/b in August to average $45.46/b, mostly attributed to sell-offs amid enduring oversupply and Chinese economic turbulence. Crude oil futures plunged sharply again to multi-month lows, with ICE Brent ending at $48.21/b and Nymex WTI at $42.89/b. Speculators continued to be bearish in August with net-long positions in oil futures and options at record lows. The Brent-WTI spread narrowed about 52¢ to $5.32/b in August. World Economy. World economic growth has been revised down to 3.1% for 2015 and to 3.4% for 2016. While OECD growth remains unchanged at 2.0% for 2015 and 2.1% in 2016, major emerging economies are increasingly facing challenges. China's and India's growth forecasts have been revised down by 0.1 percentage points to now stand at 6.8% and 6.4% for China and at 7.4% and 7.6% for India in 2015 and 2016, respectively. World Oil Demand. In 2015, world oil demand growth is expected to be around 1.46 mb/d after an upward revision of around 84 tb/d, mainly to reflect better-than-expected data from OECD region. In 2016, world oil demand is anticipated to rise by 1.29 mb/d after a downward revision of around 50 tb/d. World Oil Supply. Non--OPEC oil supply is expected to grow by 0.88 mb/d in 2015, following a downward revision of around 72 tb/d, due to lower-than-expected output in the US. In 2016, nonOPEC oil supply is expected to increase slightly by 0.16 mb/d, a downward revision of 110 tb/d from the previous report. OPEC NGLs are expected to grow by 0.19 mb/d in 2015 and 0.17 mb/d in 2016. In August, OPEC crude production averaged 31.54 mb/d, according to secondary sources [opec.org]

» September 15 2015 - #ClimateChange #ClimateScience #ClimatePolicy #SSClimate [by rome2015.it] #ROME2015 SCIENCE SYMPOSIUM ON CLIMATE, Call for Abstracts. The Conference is hosted by FAO - Food and Agriculture Organization of the United Nations. FAO will provide its expertise to ensure that the Conference findings - which are sole responsibility of the organizers - are relevant to member countries goals of food security, sustainable natural resources management and rural development. The Conference will be held on November 19-20, 2015 at FAO Headquarter (Rome). SISC - Societa' Italiana per le Scienze del Clima in co-operation with AGI - Associazione Geofisica Italiana, AIEAR - Associazione Italiana degli Economisti dell'Ambiente e delle Risorse naturali, ATIt - Associazione Teriologica Italiana, CATAP - Coordinamento delle Associazioni Tecnico-scientifiche per l'Ambiente ed il Paesaggio, COI - Commissione Oceanografica Italiana, GII - Gruppo italiano di Idraulica, HOS - Historical Oceanography Society, SIF - Societa' Italiana di Fisica, SMI - Societa'Meteorologica Italiana, and UNASA - Unione delle Accademie di Agricoltura is pleased to open the for Call for Abstracts [rome2015.it]

» September 15 2015 - #CleanEnergy #ClimatePolicy #CEMReport [by cleanenergyministerial.org] The Clean Energy Ministerial (CEM) has released a new report summarizing key outcomes from the six public-private roundtables held as part of the sixth Clean Energy Ministerial (CEM6) in Merida, Mexico, in May 2015. Public-Private Roundtables at the Sixth Clean Energy Ministerial captures the key messages and recommendations of the government and private-sector leaders who participated in the discussions. The roundtables provide an opportunity for the CEM participating energy ministers and other high-level officials to engage in an open discussion with other stakeholders-including civil society organizations, global business leaders, entrepreneurs, experts from laboratories and academia, and leaders from civil society organizations-on key clean energy challenges. The discussions capture the various perspectives, inform current CEM initiative work, and encourage ongoing public-private dialogue and cooperation to accelerate clean energy progress [...] Accelerating Energy Productivity; Achieving a Social License for Clean Energy Deployment; Finance for Clean Energy Access; Power System Transformation and the Smart Utility of the Future; Public-Private Consortia for Advanced Clean Energy Technology Research; The Sustainable Urban Energy Transition [cleanenergyministerial.org]

» September 14 2015 - #ClimateChange #ClimatePolicy #ClimateMetrology #NPLReport [by npl.co.uk] Metrology for Climate - Metrology priorities for the earth observation and climate community. The report contains the recommendations from international research organisations on current measurement challenges with the aim of supporting future climate research. The report follows a two-day event hosted by the Centre for Carbon Measurement at the National Physical Laboratory, UK, in May 2015. The event brought together key technical experts to prioritise the role metrology should play in supporting all 50 Essential Climate Variables. The document serves as an input to a number of ongoing international strategy initiatives and provide the evidence base to steer new collaborative research activities, prioritising current available investments and establishing mechanisms for future interactions. It can be used as a reference document to understand the measurement challenges associated with understanding climate change - an essential component of climate policy [npl.co.uk]

» September 11 2015 - #NaturalGas #Oil #Russia #China #Geopolitics [by abo.net] The Western Route of Sino-Russia gas pipeline. The pipeline, with a total length of 3,170 km, should be built in China. But oil and gas price fluctuations, along with other factors, are casting shadows over this ambitious project. Till September of this year, nearly 20 months by taking Western sanctions to Russia, the relationship between Russia, the United States and Europe almost into a "new Cold War." In late this July, the Russian media had focused on postpone indefinitely the western route of natural gas pipeline project. Despite Gazprom finally cleared ,that China and Russia has still engaging on the West Route Project with maintaining close communication. But economically and geopolitically, this rumor is not fiction. Brent oil prices plummeted at US $107/barrel in June 2014, and dropped onto $53/barrel at the beginning in July this year, and all believed that $50/barrel price will remain for some time or even much lower than this; natural gas prices over the same period was quickly down from $4.5 to $2.779/MMBTU, while the average pipeline price of gas in Gazprom in 2014 was $372.4/thousand cubic meters, equivalent to $11.6/MMBTU. In this context, export revenues of Gazprom plummeted. If this market until 2018, Gazprom will be hard-pressed to invest in new projects. Global demand for natural gas has grown, China will become a big gas market. To 2035, China will have a demand of 400 billion cubic meters for his market as the same size of the European market on nature gas. The deal of 30-year exports to China with totally 38 billion cubic meters of natural gas agreement signed in May 2014, this total length of 3170 km of natural gas pipeline has scheduled to be built from the Heihe to Shanghai in the Chinese territory, as the most longest pipeline in Asia. Pipeline construction is expected to be completed in 2018, Russia will build nine underground gas storage in the vicinity of the Chinese section alongside of the pipeline. [abo.net]

» September 10 2015 - #ClimateChange #RenewableEnergy #UE [by europa.eu] #StateOfTheUnione2015. We have no silver bullet to tackle climate change. But our laws, such as the EU Emissions Trading Scheme, and our actions have allowed us to decrease carbon emissions whilst keeping the economy growing. Our forward--looking climate policy is also delivering on our much needed Energy Union goals: it is making us a world leader in the renewable energy sector, which today employs over one million people across the EU and generates €130 billion turnover, including €35 billion worth of exports. European companies today hold 40% of all patents for renewable technologies and the pace of technological change increases the potential for new global trade in green technology. This is why a strategic focus on innovation and on interconnecting our markets is being given in the implementation of the Energy Union. This is what I promised you last year and this is what this Commission has delivered and will continue to deliver. The fight against climate change will not be won or lost in diplomatic discussions in Brussels or in Paris. It will be won or lost on the ground and in the cities where most Europeans live, work and use about 80% of all the energy produced in Europe [europa.eu]

» September 10 2015 - #OilAndGasFirms #Fracking #UK [by theguardian.com] The UK government has added its weight to a behind-the-scenes lobbying drive by oil and gas firms including BP, Chevron, Shell and ExxonMobil to persuade EU leaders to scrap a series of environmental safety measures for fracking, according to leaked letters seen by the Guardian. The deregulatory push against safety measures, which could include the monitoring of on-site methane leaks and capture of gases and volatile compounds that might otherwise be vented, appears to go against assurances from David Cameron that fracking would only be safe "if properly regulated" [theguardian.com]

» September 9 2015 - #Coal #China #India [by eenews.net] Can India fill 'China-shaped hole' in global markets? With China's economy cooling off, the coal business is losing the friend it trusted most to keep demand, and prices, high. That's why the industry's already pointing to its next great hope: India. Coal companies argue that India will lead the next chapter of global coal growth, helping lead an industry recovery. But they're up against analysis that says India won't be a second China and that India may feed its needs domestically rather than import from Indonesia, Australia or the United States [eenews.net]

» September 8 2015 - #RenewableEnergy #US [by aspentimes.com] Aspen (Colorado) is one of three U.S. cities to run on 100 percent renewable energy [...] The shift to energy that is generated from natural resources - including wind power, solar power and geothermal heat - follows a "decade-plus' city goal [...] The first two U.S. cities to reach the goal were Burlington, Vermont, followed by Greensburg, Kansas. Aspen's transition to 100 percent renewable occurred Thursday after the city signed a contract with wholesale electric energy provider Municipal Energy Agency of Nebraska [...] The city had been using about 75 to 80 percent renewable energy beforehand [...] Aspen eliminated coal and added to its wind power to replace the remaining 20 to 25 percent of non-renewable energy and reach its 100 percent goal [...] Aspen receives its wind energy from about four wind farms in Nebraska and South Dakota [...] the city also uses energy from Ruedi Reservoir, Maroon Creek and Ridgway Reservoir, which is a hydropower facility near Montrose. Aspen Electric Utility serves about half the community, while Holy Cross Energy powers the other half [...] While Aspen set its goal of 100 percent renewable energy about 10 years ago, the effort really kicked off in the 1980s with Ruedi and Maroon Creek hydroelectric projects [aspentimes.com]

» September 7 2015 - #ClimateChange #INDC #MRV #Cop21 #CsisEnergy #CsisLive [by csis] The #Paris2015Conference -- the next conference under the UN Framework Convention on Climate Change adopted in 1992 -- is highly anticipated around the globe but is yet another step on the longstanding pathway to coordinated global action. As was determined in Durban, South Africa in 2011, the goal of negotiations is an agreement with legal force that is applicable to all. Each country has been subsequently charged with arriving in Paris with predetermined climate goals, in the form of an Intended Nationally Determined Contributions (INDC). Following an overview of the content and purpose of the INDCs, the expert panel will discuss comparability between already submitted INDCs, those yet to come, and the accompanying Measuring, Reporting and Verification (MRV) processes. The CSIS Energy and National Security Program is pleased to host Joseph Aldy, Associate Professor of Public Policy at the John F. Kennedy School of Government at Harvard University, and Elliot Diringer, Executive Vice President at the Center for Climate and Energy Solutions (C2ES) to discuss current and expected Intended Nationally Determined Contributions (INDC) in advance of the United Nations Climate Change Conference, COP21, to take place in Paris later this year. Sarah O. Ladislaw, Director and Senior Fellow in the CSIS Energy and National Security Program, will moderate: WEDNESDAY, SEP 9, 2015 | 10:00 AM - 11:30 AM [csis.org]

» September 7 2015 - #Coal #CCS #Funding [by iea-coal.org.uk] #USA: #DOE Selects Eight Projects to Receive Funding for Reducing the Cost of CO2 Capture and Compression. The U.S. Department of Energy's (DOE) National Energy Technology Laboratory (NETL) has selected eight projects to receive funding to construct small - and large-scale pilots for reducing the cost of carbon dioxide (CO2) capture and compression through DOE's Carbon Capture Program. The Carbon Capture Program is developing technologies that will enable cost-effective implementation of carbon capture and storage (CCS) in the power generation sector and ensure that the United States will continue to have access to safe, reliable, and affordable energy from fossil fuels. The program consists of two core research technology areas, post-combustion capture and pre-combustion capture, and also supports related CO2 compression efforts. Current research and development efforts are advancing technologies that could provide step-change reductions in both cost and energy penalty compared to currently available technologies. The selected projects focus on advancing the development of a suite of post-combustion CO2 capture and supersonic compression systems for new and existing coal-based electric generating plants, specifically: (1) supersonic compression systems, (2) small pilot-scale (from 0.5 to 5 MWe) post-combustion CO2 capture development and testing, and (3) large pilot-scale (from 10 to more than 25 MWe) post-combustion CO2 capture development and testing [iea-coal.org.uk]

» September 4 2015 - #Oil #OilPrice #UpstreamProject #FiscalRegime #Webinar [by energy.globaldata.com] With the oil price having fallen from over US$110/bbl to lows below US$50/bbl over the past eight months, E&P companies are lobbying for tax cuts in many countries. In most mature basins, relatively low costs and the design of fiscal regimes should mitigate the impact of lower prices on the viability of oil and gas developments. However, with costs for new sources of supply likely to be higher as the industry moves into more challenging locations, government responses to the current price scenario are likely to significantly impact the supply outlook for the long term. Analysing the effects of lower oil prices on project economics in 10 mature basins, (Argentina, China, Indonesia, Iraq, Norway, Russia, UAE, UK, US Gulf of Mexico and Venezuela) and four key areas for supply growth (Brazil-s pre-salt, Canada's oil sands, Mexico and the Russian Arctic), GlobalData's analysis assesses where low prices may threaten supply if the tax burden is not reduced [energy.globaldata.com]

» September 4 2015 - #ClimateChange #ClimateFinance #WorkingPaper [by odi.org] The Copenhagen commitment for $100 billion in climate finance per year by 2020 is one of the most contentious sticking points under the negotiations to secure a global climate deal. Parties have different opinions on what types of finance flows should be counted towards this goal. The Climate Policy Initiative (#CPI), World Resources Institute (#WRI) and Overseas Development Institute (#ODI) have this week launched a working paper with the goal of opening up debate on this key issue. What counts: tools to help define and understand progress towards the $100 billion climate finance commitment’ distills the debate into five key variables that have emerged as relevant to what parties consider to count as climate finance: Motivation - the extent to which a financial flow was explicitly designed to reduce greenhouse gas emissions or support climate adaptation. Concessionality/source - the legitimacy of public versus private sources of climate finance, and the degree of "softness" of the finance reflecting the benefit to the recipient compared to a loan at market rate. (To simplify categorisation and facilitate debate we combine "source" with "concessionality", though recognise this is imperfect). Causality - the extent to which a contributor's intervention, whether public finance or policy, can be said to have mobilised further investment in climate-relevant activities. Geographic origin. Recipient [odi.org]

» September 3 2015 - #ClimateChange #GHGEmissions #CCS #GreenhouseGasControl [by #InternationalJournalofGreenhouseGasControl] A Special Issue commemorating the 10th year anniversary of the publication of the Intergovernmental Panel on Climate Change Special Report on CO2 Capture and Storage is now on line for all to view. The Special issue has been over a year in preparation and contains an Editorial and 17 papers that chart the progress made in key areas of CCS in the last ten years. It was deliberately timed to come out in advance of COP21 to provide an update on technical developments on CCS to demonstrate that the technology has not stood still since the IPCC SRCCS was issued in 2005 [sciencedirect.com]

» September 2 2015 - #ClimateChange #GHGEmissions #VTTReport #Finland [by VTT]Assessing countries' historical contributions to GHG emissions. One of the main principles in the UNFCCC is the recognition of parties' "common but differentiated responsibilities and respective capabilities". Countries' past contributions to climate change or global greenhouse gas (GHG) emissions differ, which has prompted discussion over their historical responsibility for current and future climate change. This report first assesses the countries' contribution to historical GHG emissions using different scopes of time and emission sources, both as cumulative emissions and cumulatively on per-capita terms. The choice over the scope used affects the countries' contribution significantly. Whether emissions prior to 1990 are accounted affects particularly the contribution of USA, EU and China, whereas the inclusion of LULUCF emissions has a tremendous effect on the contribution of Brazil and Indonesia. When emissions are measured on per-capita terms, the contribution of e.g. Brazil and Indonesia can become significant, while that of EU is decreased considerably [vtt.fi]

» September 1 2015 - #RenewableEnergy #ElectricityCost #NuclearPower #CoalPowerPlant #GasPowerPlants #IeaReport [by Iea] The cost of producing electricity from renewable sources like wind and solar has been falling for several years. Now, a new report provides in detail the contrasting costs for different power generation technologies around the world and shows that renewable sources can produce electricity at close to or even below the cost of new fossil fuel-based power stations. The report, Projected Costs of Generating Electricity: 2015 Edition, also shows that new nuclear power plants generate electricity more cheaply than other established "baseload" sources such as coal- and gas-fired power plants over the full lifetime of facilities when financing costs are relatively low [iea.org]

» September 1 2015 - #ClimateChange #ClimateTechnologyFinancing #UNFCCC [by unfccc.int] Participate virtually in UNFCCC climate technology talks. The UNFCCC's Technology Executive Committee (TEC) will hold its 11th meeting on 7-11 September 2015, in Bonn, Germany. [...] At this meeting, the TEC will work on policies that can enhance climate technology action. In particular, the TEC will continue to implement its 2014-2015 workplan and consider issues such as: technology needs assessments; climate technology financing; enabling environments and barriers; and mitigation and adaptation technologies. The meeting will be webcast and online participants may send questions and comments to the TEC by including the hashtag #climatetech and #TEC11 in their Twitter posts [unfccc.int]

» August 31 2015 - #NaturalGas #Eni #MediterraneanSea #Egypt [by eni.com] Eni discovers the largest gas field in the Mediterranean Sea. The discovery could hold a potential of 30 trillion cubic feet of lean gas in place (5.5 billion barrels of oil equivalent in place) covering an area of about 100 square kilometres. It's the largest gas discovery ever made in Egypt and in the Mediterranean Sea and could become one of the world's largest natural-gas finds. This exploration success, after its full development, will be able to ensure satisfying Egypt's natural gas demand for decades. Egypt remains at the heart of the Eni Group's international strategy: an alliance that has lasted for more than 60 years [eni.com]

» August 28 2015 - #EnergyPolicy #FossilFuelTechnologies #LowCarbonTEchnologies #WorkingPaper [by sei-international.org] Assessing carbon lock-in. This paper presents a systematic approach for gauging carbon lock-in risks associated with major energy-consuming assets. The term "carbon lock-in" refers to the tendency for certain carbon-intensive technological systems to persist over time, "locking out" lower-carbon alternatives, and owing to a combination of linked technical, economic, and institutional factors. These technologies may be costly to build, but relatively inexpensive to operate and, over time, they reinforce political, market, and social factors that make it difficult to move away from, or "unlock" them. As a result, by investing in assets prone to lock-in, planners and investors restrict future flexibility and increase the costs of achieving agreed climate protection goals. The authors present here a straightforward approach to assess the speed, strength, and scale of carbon lock-in for major energy-consuming assets in the power, buildings, industry, and transport sectors. They pilot the approach at the global level, finding that carbon lock-in is greatest, globally, for coal power plants, gas power plants, and vehicles. The approach can be readily applied at the national or regional scale, and may be of particular relevance to policy-makers interested in enhancing flexibility in their jurisdictions for deeper emissions cuts in the future, and therefore in limiting the future costs associated with "stranded assets" [sei-international.org]

» August 28 2015 - #EnergyPolicy #CarbonPricing #DecarbonisingEurope #UE [by insightenergy.org] Decarbonising the EU Energy System - Beyond Carbon Pricing. In the EU, substantial change to the physical infrastructure of the energy system is required for decarbonisation. So far non-carbon pricing instruments have had a substantial impact in the early phase of this transition. Carbon pricing will be important in the coming years, but the extent and profile of its impact is highly uncertain, and limited in some sectors. A broad policy mix, spanning market-based, technology/regulatory and behaviour-focussed instruments, is required [insightenergy.org]

» August 27 2015 - #OilPrice #OilMarket #SaudiArabia #Opec [by energypost.eu] Market watchers assume that Saudi Arabia will not change its oil policy any time soon, which means that oil prices will continue to be in the doldrum for quite some time. However [...] the Saudis may well face an open revolt from fellow OPEC members at the next OPEC meeting. They will then be faced with the choice to cut production - or see OPEC fall apart. OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oil prices rather than to continue Saudi Arabia's role of guarantor of $100+/bbl oil [energypost.eu]

» August 26 2015 - #OilPrice #OilMarket #ChinaDemand #UsSupplies [by washpost.bloomberg.com] Oil Fluctuates Below $40 as U.S. Supplies Seen Worsening Glut. Oil swung between gains and losses in New York amid speculation U.S. crude stockpiles expanded for a second week. Futures remained below $40 a barrel after rising 2.8 percent Tuesday. Inventories probably increased by 1.45 million barrels through Aug. 21, a Bloomberg survey showed before a report from the Energy Information Administration on Wednesday. Venezuela is seeking to promote cooperation between OPEC and Russia, the world's biggest crude producer, according to President Nicolas Maduro. Oil's decline since this year's peak in June has deepened to more than 35 percent amid a global commodities rout fueled by concern that China's demand will slow. The Bloomberg Commodity Index of 22 raw materials including crude and metals was little changed after rebounding Tuesday from a 16-year low [washpost.bloomberg.com]

» August 26 2015 - #RenewableEnergy #PV #India [by climateactionprogramme.org] Kochi airport becomes world's first 100% solar-powered airport. The airport, in the state of Kerala (India), introduced a 12-megawatt solar station in partnership with Bosch Limited and the unit will produce 50,000 units (kWh) of power per day. The unit covers 50 acres and is the largest solar project built for an airport in India. The new solar power station added to a previous installed capacity of 1.1 MW means that CIAL will become 'grid power neutral' [climateactionprogramme.org]

» August 25 2015 - #RenewableEnergy #PowerToGas #RenewableMethane #BalancingPowerMarket #Germany [by oilprice.com] Although Germany has increased its renewable energy generation by almost five times in the last decade, it has failed to invest in building the necessary infrastructure to carry this energy. The excess electricity that is being generated by Germany is spilling over to Poland and Czech Republic, two countries that are investing close to $180 million to shore up their grids from Germany's power spillage. [...] There is a way that this excess power is stored [...] there is an energy storage technology that has the capability of storing this excess power. The power to gas technology basically converts the excess electricity into gaseous energy by producing a zero carbon hydrogen gas. This gas can then be converted into renewable methane and used as an energy source in future. German auto giant Audi was the first to use this technology by setting up the world's first 6 MW - 'power to gas' plant in its home country [oilprice.com]

» August 24 2015 - #ClimateChange #ClimatePolicy #ClimateScienceSymposium [by rome2015.it] Few days before the COP21 in Paris, the Italian Scientific Community organizes an event in Rome aiming at fostering the international scientific debate on climate change. ROME2015 - SCIENCE SYMPOSIUM ON CLIMATE (November 19-20, 2015 at FAO Headquarter in Rome) will focus on the multidisciplinary dimension of Climate Sciences in order to address the advances in Climate Sciences, Adaptation and Climate Impacts, Mitigation Strategies. Scientific societies, Institutions and Associations dealing with the study of one of the most important issue of our times, its impacts and its socio-economic implications, team up their experiences and their expertise and share them with the participation of renowned keynote speakers at the national and at the international level; experts gathering in parallel sessions for scientific multidisciplinary in-depth analyses; decision makers and experienced people whose activities are related to the scientific knowledge on climate [rome2015.it]

» August 24 2015 - #SolarEnergy #PV #ElectricityCost [by fool.com] The Solar Energy Revolution: Past the Point of No Return. When the SunShot Initiative was launched by the U.S. Department of Energy in 2011 [...] it was a little crazy to think the goal of $1-per-watt solar energy was within reach. [...] Last weekend, First Solar's (NASDAQ:FSLR) CEO Jim Hughes said that $1 per watt is not only on the horizon, but is less than two years away. The government's progress toward achieving $1 per watt by 2017 and having it be a widespread commercial reality by 2020 is well ahead of schedule, and that bodes well for the future of solar energy [...] The resulting cost structure is leading to highly competitive prices for solar energy versus fossil fuels. First Solar says that bids for solar projects are now in the $0.04-to-$0.05-per-kWh range, which is less than you can build a fossil fuel plant for, no matter the source of energy [fool.com]

» August 7 2015 - #ClimateChangePolitics #GlobalEnvironmentalPoliticsArticle [by mitpressjournals.org] Advancing Comparative Climate Change Politics: Theory and Method. Central to this special issue is the notion that the methods and conceptual tools of comparative politics can improve our understanding of global climate change politics. Building on recent advancements in the field of comparative environmental politics, the special issues offers a more comprehensive treatment of climate change politics in developed countries, emerging economies and least developed countries. In this introduction, I distil the key features of comparative politics, advocate for the more rigorous application of comparative methods in climate politics scholarship and highlight three groups of political factors-institutions, interests and ideas-that hold considerable promise in explaining climate change politics at the domestic level. The introduction concludes with an appeal to (re)think how international and domestic politics interact. Examples drawn from the articles assembled for this special issue are used to substantiate the claims made [mitpressjournals.org]

» August 6 2015 - #ClimateChange #WorldEconomy #BusinessClimateAction [by treehugger.com] We're in a new era of corporate activism as businesses voice their support for Obama's clean power plan. When 13 corporate giants pledged $140 billion to fight climate change last week, it was tempting to focus on all that new money flowing to renewable energy. Perhaps more important, however, was the fact that these 13 influential businesses were giving their backing to the search for a far-reaching international agreement on climate change. In other words, they were willing to not just act, but be climate activists too. And they are not alone. Yesterday, when the Obama administration revealed its long-awaited (and stronger than expected!) clean power plan, 365 businesses came out in vocal support (General Mills, Nestle, Staples, Adidas, Mars etc.). What's interesting about this list of backers is that it wasn't just wind turbine manufacturers or solar power companies looking to make a fast buck off some crony capitalism (sorry deniers, but your Solyndra storyline won't fly here). Instead, it's a broad cross-section of our economy-a cross-section that increasingly sees both risk in inaction, and opportunity in taking on the climate challenge head on [treehugger.com]

» August 5 2015 - #Coal #ClimateChange #EpaNewCleanPowerPlan #US [by bloombergview.com] Obama Didn't Kill Coal, the Market Did. Critics of the Environmental Protection Agency's new Clean Power Plan are describing it in apocalyptic terms. But much of what they believe about the plan -- that it will destroy the coal industry, kill jobs and raise costs for consumers -- is wrong. And it's important to understand why. The overblown political rhetoric about the plan tends to obscure the market reality that the coal industry has been in steady decline for a decade, partly as a result of the natural gas boom, but mostly because consumers are demanding cleaner air and action on climate change. Communities across the U.S. have led the way in persuading utilities to close dirty old coal plants and transition to cleaner forms of energy. The Sierra Club's grass-roots Beyond Coal campaign (which Bloomberg Philanthropies funds) has helped close or phase out more than 200 coal plants over the past five years. The primary reason for the public revolt against coal is simple: It causes death, disease and debilitating respiratory problems. A decade ago, coal pollution was killing 13,000 people a year. Today, the number is down to 7,500, which means that more than 5,000 Americans are living longer, healthier lives each year thanks to cleaner power. At the same time, jobs in the energy industry have multiplied, led by natural gas and renewable sources such as solar and wind. Today, there are nearly two people working in the solar industry for each person employed by the coal industry [...] But the fact remains that King Coal is dying of natural causes: Market forces, technological advances, and public demands for clean air and climate action have combined to make alternative sources of energy more financially attractive. The price of new wind power, for example, is lower than that of coal in most parts of the country [bloombergview.com]

» August 5 2015 - #Nuclear #IranNuclearDeal #US #EU #Russia #Geopolitics #BelferReport [by belfercenter.org] The Iran Nuclear Deal: A Definitive Guide. This report has been produced in the interest of contributing to informed Congressional review and public discourse on a comprehensive nuclear agreement with Iran-the Joint Comprehensive Plan of Action (JCPOA). It provides a concise description of the agreement and the accompanying UN Security Council Resolution 2231. It also includes a balanced assessment of the agreement's strengths and weaknesses with respect to its central objective to prevent Iran from acquiring nuclear weapons. The team of experts who prepared the report includes Democrats, Republications, independents, and internationals. Noting areas of disagreement among themselves, they agreed that this report provides an accurate description and balanced assessment of the agreement [belfercenter.org]

» August 5 2015 - #GlobalWarming #Iran #Iraq [by accuweather.com] No Foreseeable Relief After Iran City Feels Like Exceptional 163 F. The air felt like an exceptional 163 F (73 C) in Bandar Mahshahr, Iran, on Friday, and no relief is expected in the foreseeable future. Due to extreme heat and humidity, Bandar Mahshahr registered an apparent temperature of 154 F (68 C) on Thursday. "That was one of the most incredible temperature observations I have ever seen and it is one of the most extreme readings ever in the world," stated AccuWeather Meteorologist Anthony Sagliani [accuweather.com]

» August 4 2015 - #RenewableEnergy #WindPower #ETHZurichStudy [by ethlife.ethz.ch] Large wind turbines kinder to the environment. An ETH-Zurich study headed by Stefanie Hellweg, a professor of ecological systems design, concludes that large wind power plants produce greener electricity than smaller ones. The fact that the plant construction firms gain experience and learn from each other has a positive impact on the environment [ethlife.ethz.ch]

» August 4 2015 - #ClimateChange #ClimateModel #SmithsonianMasonSchoolofConservation [by smconservation.gmu.edu] Global Climate Models (GCMs) indicate that rising concentrations of greenhouse gases will have significant implications for climate at global and regional scales. Less certain is the extent to which meteorological processes at individual sites will be affected, yet these potential changes at smaller scales are exactly what engineers, consultants and land managers are most concerned with. Statistical downscaling techniques are used to bridge the spatial and temporal resolution gaps between what climate modelers are currently able to provide (low resolution, course-scale data) and what impact assessors require (high-resolution, fine-scale data). The Statistical DownScaling Model (SDSM) is a freely available software tool that facilitates the rapid development of multiple, low-cost, single-site scenarios of daily surface weather variables under present and future climate forcing. SDSM is the most ubiquitous statistical downscaling software used in the scientific literature with over 200+ studies in over 39 countries. This course trains on the use and application of this freely available decision support tool for assessing local climate change impacts using a robust statistical downscaling technique, taught by professionals currently using this technique in their own research [smconservation.gmu.edu]

» August 3 2015 - #ClimateChange #US #ObamaCleanPowerPlan [by whitehouse.gov] Climate Change, is not an opinion is fact, a memo to America, President Obama's action plan. The Clean Power Plan sets achievable standards to reduce carbon dioxide emissions by 32 percent from 2005 levels by 2030. By setting these goals and enabling states to create tailored plans to meet them, the Plan will: Protect the health of American families. In 2030, it will: Prevent up to 3,600 premature deaths; Prevent 1,700 non-fatal heart attacks; Prevent 90,000 asthma attacks in children; Prevent 300,000 missed workdays and schooldays. Boost our economy by. Leading to 30 percent more renewable energy generation in 2030; Creating tens of thousands of jobs; and Continuing to lower the costs of renewable energy. Save the average American family. Nearly $85 a year on their energy bills in 2030. Save enough energy to power 30 million homes in 2030, and Save consumers $155 billion from 2020-2030. Continue American leadership internationally on climate change by keeping us on track to meet the U.S. 2020 and 2025 emissions targets [whitehouse.gov]

» August 3 2015 - #ClimateChange #RenewableEnergy #Hydropower #Norway #NtnuResearch [by climateactionprogramme.org] Norway could become the "green battery of Europe" by using hydropower plants to provide extra electricity in case the production of wind and solar power declines in other countries. Engineers have suggested that the existing network of hydropower plants could instantly boost power supplies across the continent in the event of an energy shortfall and avoid other nations having to turn to fossil fuel power sources. Norway is the sixth largest hydropower producer in the world with its 937 hydropower plants providing 96 per cent of the country's electricity. Europe has 400 million people in 24 countries connected to a single grid and power surpluses from one country are exported to neighbouring states or imported as national requirements fluctuate. With energy supplies from wind and sun power sources relatively unreliable, many countries keep gas and coal plants on standby to make up for any shortage. Research by the Hydraulic Laboratory at the Norwegian University of Science and Technology (NTNU) in Trondheim suggests that it can engineer Norway's power plants so that they can act as a standby battery [climateactionprogramme.org]

» July 31 2015 - #ClimateChange #EconomistReport #WorldEconomy [by economistinsights.com] The asset management industry-and thus the wider community of investors of all sizes- is facing the prospect of significant losses from the effects of climate change. Assets can be directly damaged by floods, droughts and severe storms, but portfolios can also be harmed indirectly, through weaker growth and lower asset returns. Climate change is a long-term, probably irreversible problem beset by substantial uncertainty. Crucially, however, climate change is a problem of extreme risk: this means that the average losses to be expected are not the only source of concern; on the contrary, the outliers, the particularly extreme scenarios, may matter most of all. The findings in this report indicate that climate change is likely to represent an obstacle for many asset owners and managers to fulfil their fiduciary duties [economistinsights.com]

» July 31 2015 - #ClimateChange #EconomicRisk #US #RiskyBusinessReport [by riskybusiness.org] The Southeast U.S. and Texas are experiencing an economic boom, mostly due to manufacturing and energy industry growth. But that boom is at risk from unchecked climate change, which could render this region-already one of the hottest and most weather-vulnerable of the countryat significant economic risk. However, if policymakers and business leaders act aggressively to adapt to the changing climate and to mitigate future impacts by reducing their carbon emissions, this region can lead in responding to climate risk. The Southeast can demonstrate to national and global political leaders the kind of strong response necessary to ensure a strong economic future. This region, comprising the 11 Southeastern states of Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Virginia as well as Texas to the west, has witnessed a major recent manufacturing boom, and is poised for further economic growth in the coming years. In 2013, manufacturing contributed $2.1 trillion to the U.S. economy-more than 12% of GDP-and accounted for 88% of all U.S. exports, a remarkable 51% increase from declines during the last recession. The region's economic vitality makes it one of the most productive parts of the country. But climate change is putting that productivity at risk. While the Southeast and Texas are generally accustomed to heat and humidity, the scale of increased heat-along with other impacts such as sea level rise and storm surge-will likely cause significant and widespread economic harm, especially to a region so heavily invested in physical manufacturing, agriculture and energy infrastructure [riskybusiness.org]

» July 30 2015 - #RenewableEnergy #SolarEnergy #US #GTMresearchReport [by greentechmedia.com] U.S. Residential Solar Financing 2015-2020. 2014 was the third consecutive year that the U.S. residential solar market experienced more than 50% growth and the first year it exceeded installations in the non-residential market. This rapid growth can largely be attributed to the widespread availability and increasing diversity of financing solutions. The first wave of growth in the residential market, from about 2010 to 2014, can be attributed to third-party financing for leases and PPAs that made solar affordable to the masses. More recently, the market has seen a resurgence of direct ownership, with a number of new players introducing a wide range of loan products. The residential solar market is still in its infancy, and the competitive landscape continues to evolve thanks to new market entrants, acquisitions, and constantly changing consumer finance options [greentechmedia.com]

» July 30 2015 - #RenewableEnergy #ClimateChange #Germany #Energiewende [by thinkprogress.org] On Saturday, July 25, Germany set a new national record for renewable energy by meeting 78 percent of the day's electricity demand with renewables sources, exceeding the previous record of 74 percent set in May of 2014. According to an analysis by German energy expert Craig Morris at the Energiewende blog, a stormy day across northern Europe combined with sunny conditions in southern Germany led to the new record, the exact figures of which are still preliminary. Morris writes that most of Germany's wind turbines are installed in the north and most of its solar panels are in the south [thinkprogress.org]

» July 29 2015 - #EnergyPolicy #EnergySecurity#RenewableEnergy #ClimateChange #EU #TradeAgreements #UniversityOfLondonArticle [by papers.ssrn.com] The impact of European Union (EU) preferential trade agreements (PTAs) in addressing climate change mitigation and energy security by promoting renewables. A major aim of the international community is to decarbonize the economy. With renewables, international trade in energy is likely to increase. In turn, the international trading system can be a major vehicle towards moving away from fossil fuels to renewable energy. To this end, it can provide fair competition, economies of scale and knowledge transfer. This article analyzes the impact of European Union (EU) preferential trade agreements (PTAs) in addressing climate change mitigation and energy security by promoting renewables. Currently, there is a proliferation of PTAs; this trend seems irreversible and is likely to persist, given the current crisis in the multilateral trading system. We argue that the EU can, through its network of PTAs, move towards greater energy independence as renewable energy becomes increasingly economically viable. This article provides a thorough review of the renewable energy-related provisions in the EU’s current PTAs and recommends three tangible ways through which the EU could capitalize its vast network of PTAs to boost the renewable energy market [papers.ssrn.com]

» July 29 2015 - #EnergyPolicy #EnergyPoverty #EU #InsightEReport [by stakeholderforum.org] Energy poverty and vulnerable consumers in the energy sector across the EU: analysis of policies and measures. This report focuses on how EU Member States define the issues of energy poverty and vulnerable consumers, and the measures that have been implemented to address these issues. The report first focuses on the European context, describing the Commission's existing competencies and activities in this area, and the current understanding of the energy poverty problem across Europe. The main substance of the report (section IV) is then a review of how Member States view and define these issues, and the resulting action being undertaken. Our key finding is that Member States define and address these issues in very different ways, based on their national circumstances. We set out a number of recommendations concerning how the European Commission can bolster action in this area while still ensuring that Member States have the flexibility to undertake country-appropriate measures [stakeholderforum.org]

» July 29 2015 - #OilMarket #Greece #ThomsonReutersReport [by thomsonreuters.com] Vessel tracking data suggests crude inflows into Greece have risen 62% in the month to date, according to the Oil Research & Forecasts team at Thomson Reuters: Vessel tracking data suggests crude inflows into the country have risen 62% in the month to date compared to last month as the country faces yet another crisis. Domestic petroleum products consumption expected to decline regardless of an exit from the European currency. Downstream sector to remain competitive in the short-term due to the complexity of refineries and bias towards product exports [thomsonreuters.com]

» July 29 2015 - #Coal #RenewableEnergy #Australia #OxfamReport [by theguardian.com] Tony Abbott wrong on coal being 'good for humanity', Oxfam report finds. Report says Australia must embrace renewables and coal exacts an 'enormous toll' on health, drives climate change and is ineffective in delivering electricity to world's poor [theguardian.com]

» July 28 2015 - #OilPrice #Shale #US [by oilprice.com] With oil prices hitting their lowest levels since March, a renewed sense of gloom has washed over oil markets, and with it, fears over deeper trouble for U.S. shale companies are spreading. After hitting $43 per barrel in March, oil prices jumped to $60 per barrel by May and then stayed around that level for almost two months, raising confidence that a rebound was underway, albeit at a slow pace. A few companies, including EOG Resources, Pioneer Resources, Occidental Petroleum, and Diamondback Energy, suggested that they were considering stepping up rig counts and drilling activity this year on the heels of stronger oil prices. Having weathered the worst, drillers had cut costs and planned on bouncing back with gusto. But the optimism is a thing of the past. WTI dipped below $48 per barrel on July 27, not far from the March lows. The low oil prices will likely force a fresh round of layoffs across the shale patch. Halliburton and Baker Hughes have eliminated 27,000 jobs combined, twice as much as they originally announced in February, according to the Wall Street Journal. Months ago job cuts were centered on rig workers and other blue-collar jobs at drilling sites, but now the layoffs are moving up the food chain, hitting engineers and scientists. Usually that is something companies try hard to avoid, for fear of losing irreplaceable talent [oilprice.com]

» July 28 2015 - #Oil #Gas #BP [by energyvoice.com] BP's profits took a significant hit in the wake of its $18.7billion Deepwater Horizon settlement. The operator's profits tumbled 64% with the firm recording a replacement cost profit of $1.3billion for the second quarter. The number is down on the previous quarter's $2.6billion and last year's $3.6billion [energyvoice.com]

» July 27 2015 - #Gas #Russia #China #Ukraine #Geopolitics #CsisPublication [by csis.org] In the twelve months since the collapse of global oil prices and the imposition of Western economic sanctions against Russia, the number of new Russian gas export project announcements has skyrocketed. Only last month, Gazprom signed a memorandum of understanding (MOU) with three European companies to build a second large gas pipeline system under the Baltic Sea called Nord Stream II. This was preceded by the announcement in December by President Vladimir Putin himself of the cancellation of the ambitious South Stream gas pipeline under the Black Sea to be replaced by an equally grandiose project, soon to be dubbed Turkish Stream. Both Nord Stream II and Turkish Stream are designed to bypass the critical transit route through Ukraine utilized by 40 to 50 percent of Russia's current gas exports to Europe. Russia and Gazprom's position on whether gas transit through Ukraine will continue after the current agreement expires in the not-too-distant future flip-flopped within a matter of weeks recently - first proclaiming that all transit will cease after 2019, then declaring that negotiation of a new deal has been ordered by President Putin. In the past year, we have also seen the supposed conclusion of not one but two large gas deals with China. Together with numerous previously proposed liquefied natural gas (LNG) and export pipeline projects, this picture is enough to make even a seasoned energy observer’s head spin. To make matters worse, the mainstream press tends to report each one of these announcements, no matter how fanciful, as if they are all realistic projects that will be completed by the notional target dates even as Russia's financial position continues to deteriorate. The total cost of these projects is somewhere between $150 and $200 billion, and it is unlikely that Russia (even together with its prospective partners) could muster the necessary capital to complete most of them amidst Russia's low oil revenue, budget deficits, and falling GDP. Instead, the raft of announcements, postponements, and cancellations in June and July of 2015 suggest that Russia is groping for a viable gas export strategy. [csis.org]

» July 27 2015 - #Oil #Gas #China #Japan #Geopolitics [by offshore-mag.com] Japan has posted photos of Chinese oil and gas activity in the East China Sea near disputed waters and is concerned about China drawing on reserves that extend into Japanese waters. According to Reuters, China has responded that it has the right to develop resources in its waters and that Japan's actions will only serve to provoke confrontation between the two countries. In a statement, Japan's Ministry of Foreign Affairs urged China to return to talks about a 2008 agreement on joint development of resources in one area around the median line [offshore-mag.com]

» July 24 2015 - #Oil #WorldOilGasReserve #Opec #OpecAnnualStatisticalBullettin [by opec.org] OPEC, Annual Statistical Bulletin. The Annual Statistical Bulletin (ASB) contains about 100 pages of tables, charts and graphs detailing the world's oil and gas reserves, crude oil and product output, exports, refining, tankers, plus economic and other data [opec.org]

» July 24 2015 - #Coal #China #Vietnam [by energycentral.com] China-invested Power Plant Starts Construction in Vietnam. The Phase 1 of Vinh Tan coal-fired power plant came under construction in Vietnam on July 18. This is the first largest power plant Chinese company invests in Vietnam and the first BOT power project Chinese company builds in Vietnam. With an expected investmtnet of USD 1.76 billion, the Phase 1 project is located in Binh Thuan, Vietnam and it builds two 600,000kV super-critical thermal power units. China Southern Power Grid takes control of the project; general contractor is a syndication consisting of Energy China GEDI and Energy China GPEC. Construction period of the project is four years and franchised operation period is 25 years; the project will be transferred to the Vietnamese government free of charge after expiration. A consortium consisting of China Development Bank and Bank of China provides loans for the project. No. 1 unit is predicted to come into operation at the end of 2018, and the plant is scheduled to come into operation in the first half of 2019 [energycentral.com]

» July 23 2015 - #CleanEnergyTransition #ClimatePolicy #China #CenterForInternationalGovernanceInnovation #PolicyBrief #Geopolitics [by cigionline.org] How China Can Help Lead a Global Transition to Clean Energy. China's coal consumption fell marginally in 2014, the first such drop this century, in large part as a result of its policies to address its severe air pollution, develop renewable and alternative energy, and transition its economy away from heavy industry. China should take advantage of its current circumstances to adopt an aggressive national coal consumption cap target and policy to peak its coal consumption as soon as possible, no later than its next Five Year Plan (2016-2020), so that it can then peak its CO2 emissions by 2025. It can achieve this target by building upon its existing achievements in developing clean energy such as wind and solar power, where it leads the world in manufacturing and installation, and focusing on improving integration of renewable energy and scaling technologies such as energy storage, electric vehicles and smart grids. China should also prioritize renewable energy development over coal in its western expansion in order to avoid making large investments in stranded assets, and should price carbon high enough to direct investment toward clean energy. By doing so, China can help lead a transition to clean energy that will contribute greatly to global efforts to keep warming to no more than 2°C, and can serve as a model for other developing countries. Building upon domestic actions, China should work with other key players, including the Group of Twenty (G20), to advance the international climate agenda. China should also ensure that the newly formed Asian Infrastructure Investment Bank (AIIB) prioritizes clean energy development for developing countries and does not fund coal mining or coal power projects, so that other countries can leapfrog the environmental pollution that China is now seeking to remedy [cigionline.org]

» July 22 2015 - #ClimatePolicy #ETS #EU #Thomson ReutersPointCarbonReport [by thomsonreuters.com] The new report from Thomson Reuters Point Carbon explains the key elements in the Commission's proposal and provides a detailed analysis of how the phase 4 allocation will be shared between various elements of auctioning and free allocation. One of the main conclusions of the report is that the tighter benchmark allocation to industry sectors will not be sufficient to avoid the application of a cross-sectoral correction factor in phase 4. The decreasing amount of free allocation will likely affect the willingness of industrials to sell allowances and act as the marginal source of supply for the market. As the Commission's proposal is to a large extent in line with our current assumptions, we have made only minor adjustments to our price forecast. We now expect EUA prices to reach €16/t in 2020 and €30/t in 2020 [thomsonreuters.com]

» July 22 2015 - #ClimateChange #SolarActivity #SolarCycle #RoyalAstronomicalSocietyNews [by RoyalAstronomicalSociety] A new model of the Sun's solar cycle is producing unprecedentedly accurate predictions of irregularities within the Sun's 11-year heartbeat. The model draws on dynamo effects in two layers of the Sun, one close to the surface and one deep within its convection zone. Predictions from the model suggest that solar activity will fall by 60 per cent during the 2030s to conditions last seen during the 'mini ice age' that began in 1645. Results were presented by Prof Valentina Zharkova to the National Astronomy Meeting in Llandudno on 9 July 2015 [ras.org.uk]

» July 22 2015 - #ClimateChange #ChinaEnergyTransition #ChinaClimatePolicy #IIEAReport #Geopolitics [by iiea.com] It is common in the West to point the finger at China as a climate villain. We often hear about how China "wrecked" the Copenhagen climate negotiations, how its emissions have outstripped the EU and the US combined or how a coal fired power station is allegedly being build every week. In this report, Climate Hero or Villain? An Analysis of China's Plans for Low Carbon Transition, the IIEA looks beyond the headlines and presents a forensic analysis of China's evolving response to the climate challenge. It addresses in turn, China's international climate diplomacy, its climate policy-making apparatus, target setting, technology policy, progress in pricing carbon and monitoring, reporting and verification of efforts. We conclude that there is little evidence to support the sobriquet of villain, but also identify areas where China could make further progress, including striving for an earlier cap to emissions, delivering national pricing of carbon, and a greater focus on innovation and transparency. For the West the message is clear: China can no longer be used as an excuse for climate inaction [iiea.com]

» July 21 2015 - #OilPrices #Brent #WTI #Geopolitics [by bloomberg.com] The oil guru who predicted last year's rout said $100-a-barrel crude is likely to return within five years as faltering supply fails to meet demand. Gary Ross, the founder of consultants PIRA Energy Group, said oil markets aren't nearly as oversupplied as many believe and spare capacity is tight since Saudi Arabia is pumping all the crude it can without new drilling. "Current prices are unsustainable," he said Monday in an interview in London. "It's hard not to see oil hitting $100 a barrel at some point in the next five years." The forecast from Ross, who last year turned bearish on oil before prices shrank by half, is at odds with other analysts and investors bracing for "lower for longer" prices, a term coined by BP Plc Chief Executive Officer Bob Dudley. Saudi Oil Minister Ali Al Naimi said in December the world may not see $100 crude again, while the International Energy Agency has described the markets as "massively oversupplied." Such views fail to take into account the impact of $50 oil on output outside North America as producers reduce spending, according to Ross. The likelihood of further disruption to OPEC supplies and the boost to consumption from cheap fuel also support prices, he said. Brent crude, the global benchmark grade, was down 14 cents at $56.51 a barrel on the London-based ICE Futures Europe exchange at 9:51 a.m. local time on Tuesday. West Texas Intermediate oil fell 18 cents to $49.9 [bloomberg.com]

» July 20 2015 - #Gas #RussianGasExport #CsisLive #Geopolitics [by csis.org] The Future of Russian Gas Exports. 2:00 PM - 3:30 PM, Wednesday, July 22, 2015 [...] The CSIS Energy and National Security Program and Russia and Eurasia Program are pleased to host Isabel Gorst, longtime Moscow-based foreign correspondent, to discuss current and planned Russian natural gas export projects. In the twelve months since the collapse of global oil prices and the imposition of Western sanctions, the Russian economy has been placed under severe strain. Simultaneously, the number of new Russian gas export project announcements has proliferated, with projects announced from the Baltic to the Black Sea and to China. Though the feasibility of these proposed projects remains to be seen, the impact on natural gas markets could be compelling. With extensive on-the-ground experience reporting on energy projects in the former Soviet Union, Ms. Gorst brings two decades of insightful analysis to a discussion featuring Edward Chow, Senior Fellow with the CSIS Energy and National Security Program, and Andrew Kuchins, Director and Senior Fellow with the CSIS Russian and Eurasia Program [csis.org]

» July 20 2015 - #ClimateChangeRisks #FinancialMarkets #UKsForeignCommonwealtOffice #MilitaryRiskAssessment #Geopolitics [by csap.cam.ac.uk] An international group of climate scientists, energy analysts, and experts in risk from finance and the military recently released a new independent assessment of the risks of climate change, designed to support political leaders, businesses and financial markets in their decisions on how much priority to give to the issue. The UK's Foreign and Commonwealth Office commissioned this report. The authors have written it in their independent capacity. This independent report applies the principles of risk assessment used in finance, insurance and national security to better understand and communicate the risks of climate change. The report is a major multi-country climate change risk assessment, which considers: the future pathway of global emissions; the direct risks arising from the climate's response to those emissions; and the risks arising from the interaction of climate change with complex human systems. The report has been co-authored by: Sir David King (the UK Foreign Secretary's Special Representative for Climate Change, formerly UK Chief Scientific Adviser), Prof. Daniel Schrag (Director, Harvard University Center for the Environment, Member of the US President's Council of Advisers on Science and Technology), Prof. Zhou Dadi (Emeritus Director-General of the Chinese government's Energy Research Institute, and member China National Expert Committee on Climate Change), Prof. Qi Ye (Director, Brookings-Tsinghua Centre for Public Policy at Tsinghua University) and Dr Arunabha Ghosh (CEO, CEEW). More than 40 climate scientists, as well as experts in energy technology, water, food, public health, oceans, flooding, finance, insurance, defence and national security were involved in the process of climate risk assessment (through meetings, workshops, wargaming, scenario planning) from November 2014 to April 2015. Meetings were held in Cambridge (Massachusetts), Beijing, New Delhi, and London [csap.cam.ac.uk]

» July 17 2015 - #Oil #Gas #Iran #IOCs #IranP5NuclearDeal #Geopolitics [by interfaxenergy.com] Iran's nuclear deal will allow International oil companies (IOCs) to return, but while vast reserves and low global energy prices make the country attractive, it is yet to finalise its contractual framework for upstream developments [interfaxenergy.com]

» July 17 2015 - #ClimateChange #Energy #EU #CarbonLeakage #Steal #Cement [by diw.de] European Commission has missed the opportunity for innovation in CO2 intensive materials. Researchers in the Climate Strategies network found that the European Commission's proposal for carbon leakage protection post-2020 will fail to realize a large share of innovation opportunities in materials industries like steel and cement. "This is a major missed opportunity since steel and cement alone account for 38% of industrial CO2 emissions in Europe", said Karsten Neuhoff. The research, led by the German Institute for Economic Research (DIW Berlin), analyzed the effectiveness of climate and other policies in the steel and cement sectors over the last 15 years. It explored what policy options are available to implement innovation and modernization opportunities in the CO2 intensive materials industry [diw.de]

» July 17 2015 - #ClimateChange #Energy #EU #CarbonMarket #ETS [by energypost.eu] On 15 July, the European Commission unveiled its long-awaited proposals for a deep and meaningful reform of Europe's carbon market from 2021-30. It neatly turns into law political decisions by EU heads of state and government last October. NGOs have lambasted it for lack of ambition while industry is screaming blue murder about a declining pot of free carbon allowances. Welcome to the start of a two-year battle that is probably the last chance for the EU ETS to reclaim its place as Europe's flagship climate policy [energypost.eu]

» July 17 2015 - #ClimateChange #GlobalWarming #WarmRecord #NOAAData [by ncdc.noaa.gov] The globally averaged temperature over land and ocean surfaces for May 2015 was the highest for the month of May since record keeping began in 1880. March-May and the year-to-date (January-May) globally averaged temperature were also record high. During May, the average temperature across global land and ocean surfaces was 0.87°C above the 20th century average. This was the highest for May in the 1880-2015 record, surpassing the previous record set last year in 2014 by 0.08°C) [ncdc.noaa.gov]

» July 16 2015 - #IranianNuclearDeal #Oil #Iran #Opec #US #Russia #Geopolitics [by belfercenter.ksg.harvard.edu] The Energy Implications of a Nuclear Deal between the P5+1 and Iran. Iran had the ability to supplement its current production of 2.8mnb/d to bring an additional 800,000 barrels of crude oil and condensate per day to market within a year; of these additional barrels, 300-500,000 would be crude oil. Of the crude oil, 150,000 would be new oil, while the remainder would be achieved through better enhanced oil recovery techniques. Achieving these numbers would not necessarily demand foreign investment, but would require significant investment made possible by the release of Iranian frozen assets. These numbers are in contrast to the more ambitious predictions made by Iranian Oil Minister Bijan Zangeneh; in June 2015, he said that Iran could immediately increase oil exports by 500,000 after sanctions were lifted and produce a total of 4mnb/d within the three months that followed [...] According to the experts present, Iran could well reach production levels of over 5mnb/d by 2020, but this depends more on Iran's ability to attract foreign investment into the oil sector [...] Russia's decision not to play a spoiler role may also be the result of Moscow and Russian energy entities having a better understanding of Iran's energy strategy than most of the other actors; in particular, they may not perceive Iran's natural gas to be a major threat to Russian markets. The volumes of additional crude oil Iran brings to market within the calendar year are unlikely to be sufficient in themselves to prompt a change in the current strategy of Saudi Arabia or other members of OPEC [...] However, the combination of growing Iranian and Iraqi crude and weak global demand over the next several years, could lead Saudi Arabia, Iraq, Iran, and other large producers - inside or outside of OPEC - to return to some collective decision making to prevent a complete collapse in prices [belfercenter.ksg.harvard.edu]

» July 16 2015 - #Energy, #Iran, #NuclearSafety #IranP5NuclearDeal #Geopolitics [by eeas.europa.eu] The final text of Joint Comprehensive Plan of Action: Joint Comprehensive Plan of Action; Annex I Nuclear related commitments; Annex II Sanctions related commitments; Annex II Attachments; Annex III Civil nuclear cooperation; Annex IV - Joint Commission; Annex V Implementation Plan [eeas.europa.eu]

» July 15 2015 - #Gas #Coal #Electricity #US #Geopolitics [by theguardian.com] For the first time ever, gas has usurped coal as the biggest producer of electricity in the US. Analysts say Obama administration's proposed climate change rules are likely to establish gas as the predominant source of electricity as early as 2020. Figures released by the US government's Energy Information Administration (EIA) show that in April, natural gas produced 31.5% of the country's electricity and coal 30.2%. The interregnum will not last, with coal expected to average around 35.6% of generation across 2015. But a decade ago, such an inversion was unthinkable. Americans got half their electricity from coal and just a fifth from natural gas. Now the two are neck and neck. In April a glut of fracked gas from new shale regions drove the price of gas down to just $2.50/million Btu (British thermal unit, a widely-used measure of energy), a 35% drop since February. This oversupply, combined with a routine seasonal shut down of coal plants, caused gas production to creep above coal for the first time [theguardian.com]

» July 14 2015 - #Nuclear #IranianNuclearDeal #US #China #Geopolitics [by foreignaffairs.com] The China-Iran Nuclear Pipeline [...] Although China claims otherwise, it seems likely that the Chinese government uses these so-called private brokers as proxies to assist Iran’s nuclear program. In that way, Beijing can both benefit from the illicit transactions with Iran and appear an adherent of various nonproliferation agreements. The massive scale of Iran's nuclear and missile program procurement from China in recent years, and the United States' remarkable inability to halt it, even with stringent UN Security Council sanctions in place, is a sign that China serves as a potentially pivotal back door source of nuclear materials for Iran. If a nuclear deal is to succeed, its implementation will require both intense monitoring of Iran and also much more cooperation from Beijing than it has provided thus far. Iran currently lacks the capacity to produce several key items for its nuclear and missile programs. Tehran has therefore sought to acquire them from overseas. For example, Iran's nuclear program still depends on the import of specialized materials and technology necessary to build and maintain gas centrifuge facilities for enriching uranium. The June 2014 report of the UN Panel of Experts on implementing sanctions against Iran noted that Iran "continues to seek key items abroad, preferably from established, high-quality suppliers." Pressure transducers are crucial to the operation of a gas centrifuge plant. Since Iran has been unable to manufacture them domestically, it has had to acquire them overseas. The transducers have a lifespan of only about three years, so Iran needs to continually find suppliers [foreignaffairs.com]

» July 14 2015 - #OilMarketReport #Opec #Geopolitics [by fuelfix.com] OPEC believes worldwide demand for crude next year is going to grow faster than the oil can flow out of countries that claw it from the earth. That will help ease a global oil glut and bring about "a more balanced market," the Organization of Petroleum Exporting Countries said in its monthly oil market report Monday. OPEC expects a big bulge of economic growth in emerging markets to spur global oil demand to climb by 1.34 million barrels a day next year, even as several nations outside of the Saudi Arabia-led cartel are projected to see a decline in production growth. The United States, OPEC estimated, should see its daily oil output grow by 330,000 barrels in 2016 - around a third of the 930,000 barrels a day it added in 2015. "Better-than-expected momentum in the global economy, especially in the emerging markets, would contribute further to oil demand growth in the coming year," OPEC said, though it warned many potential problems around the world could weigh on prices next year, including European debt issues, an increase in U.S. interest rates and a possible slowdown in China's economic growth. It said China's economic growth could decline next year to 6.5 percent, down from 6.9 percent this year. But India could pick up some of the slack, forecast to grow from 7.5 percent this year to 7.7 percent next year. Overall, global growth figures are expected to come in at 3.5 percent overall in 2016, up from 3.2 percent this year. "The improvement in global economic activities in 2016 is projected to translate into higher oil consumption," the group said. OPEC expects world oil demand this year to be 93.94 million barrels a day next year, up from 92.61 million in 2015. It estimated world's daily oil supply grew by 220,000 barrels last month to average 94.03 million barrels. OPEC's report came on the heels of the International Energy Agency's forecast on Friday that global oil demand would actually sink through the rest of 2015 and next year, and that'll probably be a big check on crude prices. The Paris-based group's calculation was based on April economic growth figures by the International Monetary Fund, which put out gloomier numbers the same day the IEA report came out. The IMF believes global economic growth could sit at a six-year low next year [fuelfix.com]

» July 14 2015 - #Nuclear #Gas #Iran #US #EU #Geopolitics [by reuters.com] Iran and six major world powers reached a nuclear deal on Tuesday, capping more than a decade of on-off negotiations with an agreement that could potentially transform the Middle East, and which Israel called an "historic surrender". Under the deal, sanctions imposed by the United States, European Union and United Nations would be lifted in return for Iran agreeing long-term curbs on a nuclear program that the West has suspected was aimed at creating a nuclear bomb [reuters.com]

» July 13 2015 - #SolarEnergy #EnergyStorage #NanoTechnologies #PV #UclaREserach #SciencePaper [by ucla.edu] UCLA chemists devise technology that could transform solar energy storage. The materials in most of today's residential rooftop solar panels can store energy from the sun for only a few microseconds at a time. A new technology developed by chemists at UCLA is capable of storing solar energy for up to several weeks - an advance that could change the way scientists think about designing solar cells. The findings are published June 19 in the journal Science [...] The two components that make the UCLA-developed system work are a polymer donor and a nano-scale fullerene acceptor. The polymer donor absorbs sunlight and passes electrons to the fullerene acceptor; the process generates electrical energy. The plastic materials, called organic photovoltaics, are typically organized like a plate of cooked pasta - a disorganized mass of long, skinny polymer 'spaghetti' with random fullerene 'meatballs.' But this arrangement makes it difficult to get current out of the cell because the electrons sometimes hop back to the polymer spaghetti and are lost. The UCLA technology arranges the elements more neatly - like small bundles of uncooked spaghetti with precisely placed meatballs. Some fullerene meatballs are designed to sit inside the spaghetti bundles, but others are forced to stay on the outside. The fullerenes inside the structure take electrons from the polymers and toss them to the outside fullerene, which can effectively keep the electrons away from the polymer for weeks [newsroom.ucla.edu]

» July 13 2015 - #Gas #CaspianGasImports #TranCaspianGasPipeline #TAP #TANAP #EU #Turkmenistan #Azerbaijan #Geopolitics [by worldreview.info] New pipeline project could triple Caspian gas imports to Europe. Building a Trans-Caspian Pipeline would allow the European Union to triple gas imports from the Caspian region in five years. The first gas supplies from Turkmenistan could arrive in Europe in four years, if the plans go ahead [...] The EU, Turkmenistan, Turkey and Azerbaijan adopted a joint declaration on May 1, 2015, to welcome the completion of the preliminary environmental study on the Trans-Caspian Pipeline. It has financial backing from the EU and the World Bank. The environmental study will be published before the end of 2015. A joint working group on a Trans-Caspian Gas Pipeline (TCP) project has been formed. The pipeline would see EU gas imports from the Caspian region increase from 10 bcm to 30 bcm after 2020 with the first Turkmen gas supplies expected in 2019. The impact of the Ukraine conflict and the EU,s rising distrust of Russia have created new dynamics, changed geopolitical patterns and the EU's future role in Central Asia as Turkmenistan, Azerbaijan and Turkey look to reduce their energy dependence on Russia and diversify their gas export and import supplies. Russia announced it is cutting gas imports from Turkmenistan to 4 bcm in 2015. This is due to Russia's own gas crisis and a potential production surplus of up to 100 bcm with no market. Russian energy giant Gazprom's decision to reduce gas imports has angered the Turkmenistan government which believes Gazprom is violating inter-state, inter-government and inter-department agreements. Azerbaijan and Turkmenistan's successful gas export diversification efforts have rung alarm bells in Russia which has monopolised gas exports from the Caspian Sea region and Central Asia for several decades. The EU and Turkmenistan have intensified talks since 2014 about exporting Turkmen gas to Europe and building the TCP between Turkmenistan and Azerbaijan. Gas exports from Azerbaijan's Shah Deniz field to Turkey began in 2007. The EU discussed receiving Turkmen gas supplies via a TCP through Azerbaijan, Georgia and Turkey for the original Nabucco-pipeline, as part of the EU's Southern Gas Corridor project. But this EU-backed gas pipeline project failed in 2013. It has been replaced by building the Trans-Anatolian Pipeline (TANAP) from eastern to western Turkey with the linked Trans-Adriatic Gas Pipeline (TAP). The first Azerbaijan gas supplied from its huge Shah Deniz-2 offshore gas field in the Black Sea is projected to flow to the European markets by 2019. Gas from Turkmenistan, Kurdistan and Iran could also be transported via TANAP and TAP and/or other pipelines to Central Europe. Turkmenistan has the world's fourth-largest total of proven gas reserves with 17.5 trillion cubic metres (tcm) - 9.3 per cent of global gas reserves. Its giant Galkynysh gas field is one of the world’s largest and already exports to China [worldreview.info]

» July 13 2015 - #ClimateFinance #MultilateralDevelopmentBanks #CommonPriciple [by eib.europa.eu] Development Banks Agree Common Approach to Measure Climate Finance The world's leading development finance institutions have taken an important step forward in tracking more consistently the flows of finance that help countries and people deal with the effects of climate change. The six large multilateral development banks (MDBs) and the International Development Finance Club (IDFC), a network of national, regional and international development banks, have agreed on a common set of principles to track financial commitments that help countries prepare for and build resilience to the impacts of climate change. The ability to track systematically the flows of finance that support climate adaptation makes an important contribution to helping societies deal more effectively with the negative effects of climate change Labelled, the Common Principles for Climate Change Adaptation Finance Tracking, the initiative builds on a similar agreement earlier this year to define and track mitigation finance, the funding aimed at combatting climate change. By increasing transparency of climate finance flows, the agreement on the two common principles for tracking climate finance will help to build confidence that money is flowing to help deal with this major global challenge. It is an important signal ahead of this year's COP21 conference in Paris that aims to deliver a global agreement on climate [eib.europa.eu]

» July 13 2015 - #ClimateChange #NonStateInternationalClimateInitiative #EcofysReport [by energypost.eu] Non-state actors account for growing share of emission reductions. International climate initiatives by non-state actors account for roughly half of the emission reductions pledged by governments, according to conservative calculations made by consultancy Ecofys. Cities and regions provide the larger part of these efforts, companies about a quarter. That is not yet enough to bridge the gap to the reductions that are needed, but there is scope for a further increase, write Rolf de Vos and Kornelis Blok of Ecofys. They note that non-state initiatives are becoming increasingly important in the international climate picture [energypost.eu]

» July 10 2015 - #Oil #WorldOilDemand #IeaOilMarketReport [by iea.org] Global oil demand growth is forecast to slow to 1.2 million barrels per day (mb/d) in 2016, from an average 1.4 mb/d this year, the IEA Oil Market Report for July informed subscribers, though strong consumption is expected in non-OECD Asia. World oil demand growth appears to have peaked in the first quarter at 1.8 mb/d and will continue to ease throughout the rest of 2015 and into 2016 as temporary support fades. Global oil supply surged by 550 000 barrels per day (550 kb/d) in June, on higher output from both OPEC and non-OPEC producers. At 96.6 mb/d, world oil production was an impressive 3.1 mb/d higher than a year earlier, with OPEC crude and natural gas liquids accounting for 60% of the gain. Non-OPEC supply growth is expected to grind to a halt in 2016, as lower oil prices and spending cuts take a toll. OPEC crude supply rose by 340 kb/d in June to 31.7 mb/d, a three- year high, led by record high output from Iraq, Saudi Arabia and the United Arab Emirates. OPEC output stood 1.5 mb/d above the previous year. The 'call on OPEC crude and stock change' for 2016 is forecast to rise by 1 mb/d, to 30.3 mb/d. OECD industry inventories hit a record 2 876 mb in May, up by a steep 38 mb. Product holdings led the build-up and by end-month covered 30.7 days of forward demand. Global supply and demand balances suggest that the rate of global stock increases quickened rapidly to an astonishing 3.3 mb/d during the second quarter. Robust margins spurred stronger-than-expected OECD refinery runs, lifting second-quarter global throughput estimates to 78.7 mb/d. Global refinery throughputs are forecast to increase by a further 0.7 mb/d in the third quarter, with annual gains shifting to the non-OECD. New capacity start-ups in 2015 and 2016 will put margins under pressure [iea.org]

» July 10 2015 - #ClimateChange #Oil #FossilFuelCompanies #UcsDossier [by ucsusa.org] The Climate Deception Dossiers. For nearly three decades, many of the world's largest fossil fuel companies have knowingly worked to deceive the public about the realities and risks of climate change. Their deceptive tactics are now highlighted in this set of seven 'deception dossiers'-collections of internal company and trade association documents that have either been leaked to the public, come to light through lawsuits, or been disclosed through Freedom of Information (FOIA) requests. Each collection provides an illuminating inside look at this coordinated campaign of deception, an effort underwritten by ExxonMobil, Chevron, ConocoPhillips, BP, Shell, Peabody Energy, and other members of the fossil fuel industry [ucsusa.org]

» July 10 2015 - #ClimatePolicy #ClimateChangeAdaptationMitigation #WHOstatusReport #Geopolitics [by euro.who.int] Implementing the European Regional Framework for Action to protect health from climate change. How far have Member States in the WHO European Region progressed in implementing the European Commitment to Act on climate change and health? This was the question addressed to members of the Working Group on Health in Climate Change (HIC) of the European Environment and Health Task Force in summer 2012. The HIC members were asked to respond to a comprehensive questionnaire to assess the current status of health-relevant climate change mitigation and adaptation actions. A total of 22 Member States answered the questions focusing on eight thematic areas or topics: governance, vulnerability, impact and adaptation assessments, national and subnational adaptation strategies, climate-change mitigation, strengthening of health systems, awareness raising and capacity building, green health services and sharing best practices. This publication describes and analyses their responses [euro.who.int]

» July 09 2015 - #GasPipelines #SouthStream #TurkishStream #Russia #Italy #EU #Saipem #Gazprom #Geopolitics [by bloomberg.com] Saipem SpA, Italy's biggest oil-and-gas contractor, lost its $2.2-billion contract to lay a Russian natural-gas pipeline under the Black Sea after its fleet waited for the start of the work for seven months. Russia's OAO Gazprom decided to cancel the deal as it was impossible to reach an agreement on "many working and commercial issues" related to the project, the Moscow gas exporter said late Wednesday in a statement. The pipeline works will proceed as Gazprom plans to start talks with potential contractors soon, it said. Russia kept Saipem waiting since December after President Vladimir Putin abandoned a $45 billion gas-pipeline link to Bulgaria and on to the European Union as his ties with the region soured over the conflict in Ukraine. Saipem had two contracts for the scrapped link worth 2.4 billion euros ($2.7 billion), most of the money coming from laying the first undersea line. While Saipem shares slid on the last year's news, Russia said it would build a link to Turkey instead of through Bulgaria as it aims to bypass Ukraine's network from 2020. Saipem, controlled by Italy's state-run energy company Eni SpA, was to start work on the new project in June, Gazprom executives said in May. Russia and Turkey then stalled over the pipeline deal, people with knowledge of the matter said, though the Russian government approved access for Saipem's fleet to Russian territorial waters last week [bloomberg.com]

» July 09 2015 - #OilMarket #OilPrices #IranDeal #Grexit #ThomsonReutersOilMarketReview [by thomsonreuters.com] Oil prices traded in a narrow range in June as a series of developments throughout the month kept investors on the sidelines. OPEC's meeting in the beginning of June, ongoing negotiations over Iran's nuclear programme and the Greek debt crisis kept the market finely unbalanced. For the rest of the year we expect oil process to trade within a $5/bbl range around current levels and volatility to reduce from current levels. Downside risks, such as a 'Grexit' and the likelihood of additional oil exports from Iran remain which could drastically change the picture of the oil markets [thomsonreuters.com]

» July 08 2015 - #CarbonEmissions #EmissionsByCountries #WriCaitData [by climatecentral.org] Carbon emissions are often considered in the future tense: the G7 aims to reduce future emissions and countries attending the Paris climate summit in December will pledge to make future carbon cuts. Amid all the future talk, the World Resources Institute (WRI) has released new information about the present - an infographic and huge database of the world's current greenhouse gas emissions. Based on data from the WRI's CAIT Climate Data Explorer, the graphic shows emissions data from 2012 by country. As a whole, the world emitted 42,386 megatonnes of greenhouse gases. Here's how that number breaks down. The top 10 list of emitters is no surprise. It includes China, the U.S., European Union 28, India, Russia, Japan, Brazil, Indonesia, Mexico and Iran. Together, they emit twice as much as the other 175 countries in the data, accounting for 72 percent of the globe's emissions. The top two alone, China and the U.S., account for more than one-third of the world's emissions [oecd.org]

» July 08 2015 - #ClimatePolicy #LowCarbonTransition #LowCarbonEconomy #OecdReport [by oecd.org] The OECD, in co-operation with the International Energy Agency, the International Transport Forum and the Nuclear Energy Agency, just released the report Aligning Policies for a Low-carbon Economy, which opens a new phase in policy efforts to fight climate change. Our economies and infrastructures have been hard-wired around the use of fossil fuels for well over a century - fossil fuels still capture two thirds of global energy supply investments today. Existing policy frameworks, established prior to the emergence of climate change, inadvertently hinder low-carbon policy efforts. For instance, the share of energy in public R&D spending has dropped from 11 to 4% since 1980 in IEA countries, almost 50% of agricultural subsidies in OECD countries can potentially harm the climate, and various tax provisions (e.g., company cars, property taxes) encourage CO2-intensive choices. Such policy incoherence limits the effectiveness of countries' climate change efforts and increases the cost of the low-carbon transition. This report offers the first diagnosis of misalignments between existing policy frameworks and a low-carbon transition. It identifies inconsistencies in cross-cutting policy domains such as investment and finance, taxation, innovation and skills, trade, but also in areas fundamental to a low-carbon future: electricity market regulation, urban mobility and agriculture. In a lecture hosted by the London School of Economics on 3 July, OECD Secretary-General Angel Gurria urged governments to diagnose and address misalignments of their specific domestic frameworks, starting by demanding that each ministry regularly report on which of its policies run counter to desirable climate outcomes. Aligning these policies with a low-carbon economy will allow countries to be more ambitious in their emission mitigation pledges towards COP21, and can contribute to a broader reform agenda for greener, more resilient and inclusive growth [oecd.org]

» July 07 2015 - #ClimateChange #ChinaNewClimatePlan #McKinseyWorkingPaper [by wri.org] A Closer Look at China's New Climate Plan (INDC). China's post-2020 climate action commitment [...] is arguably one of the most anticipated climate announcements of the year. The world's largest emitter restated in its "intended nationally determined contribution" (INDC) its previously announced goal to peak its emissions around 2030 and increase its share of non-fossil fuels in primary energy consumption to around 20 percent by the same year. The latter will require China to deploy 800 to 1,000 gigawatts in non-fossil capacity, close to the United States' total current electricity capacity. The country also builds on these commitments with additional announcements on carbon intensity, forests, adaptation and more [wri.org]

» July 07 2015 - #ClimateChange #CompaniesClimateRelatedRisks #McKinseyWorkingPaper [by mckinsey.com] How companies can adapt to climate change. Taking effective action can turn risk into competitive advantage. From the early days of seafaring trade, dealing with the weather has been an integral part of doing business. Today, however, concerns over climate change are taking this to a whole new level, and companies will have to adapt to growing regulatory, environmental, and consumer pressures. This is a daunting prospect. That may explain why, in a survey of S&P Global 100 companies by the Center for Climate and Energy Solutions, only 28 percent said they had done climate assessments, and an even smaller number (18 percent) said they use climate-specific tools or models to assess their risks. But delay is not a strategy. Organizations can benefit by taking action to recognize and even anticipate such climate-related risks as changing government policies, product-preference shifts, and price volatility. There are, in broad terms, six different kinds of climate risks. These can be divided into two interconnected groups: value-hain risks and external-stakeholder risks [mckinsey.com]

» July 06 2015 - #OilPrice #Iran #China #Greece #Geopolitics [by bloomberg.com] Brent slid below $60 a barrel for the first time since April amid speculation Greece could exit the euro area after rejecting austerity measures and concern that China's stock market turmoil may lead to weaker fuel demand. Futures dropped as much as 2.1 percent in London to the lowest in more than 11 weeks. European leaders will hold an emergency summit Tuesday after Greek voters rejected creditors' bailout terms. China is seeking to restore investor confidence after the Shanghai Composite slumped since mid-June. U.S. Secretary of State John Kerry tempered expectations that diplomats in Vienna will quickly reach a deal with Iran. Oil last week slumped the most since March amid speculation the Greek crisis prompted investors to eschew riskier assets. Iran, the fourth-largest member of the Organization of Petroleum Exporting Countries, has estimated it could double crude exports from about 1 million barrels a day within six months of sanctions being lifted. "We are entering a week in an environment where China is starting to panic about the plunge of its stock market, Brussels is in shock about the results of the Greek referendum and where a breakthrough deal with Iran is likely to be announced," Olivier Jakob, managing director at Petromatrix GmbH in Zug, Switzerland [bloomberg.com]

» July 06 2015 - #Gas #EnergyPolicy #TurkishStreamPipeline #Greece #UE #Russia #Geopolitics [by oilprice.com] With Greece's debt situation spiraling downwards, the European project is showing some cracks [...] In the meantime, the turmoil offers an opportunity for Russia to advance its interests. Of course, the EU is an absolutely critical trading partner for Russia, so if the bloc starts to fray at the seams, that presents financial risks to an already struggling Russian economy. Russi's central bank governor Elvira Nabiulllina warned in June of the brewing threat that a Greek default would have on Russia. [...] With the economic fallout in mind, Russia does see strategic opportunities in growing discord within Europe. First, Russia is pushing its Turkish Stream Pipeline, a natural gas pipeline that it has proposed that would run from Russia through Turkey and link up in Greece. From there, Russian gas would travel on to the rest of Europe. Russia is vying against a separate pipeline project that would send natural gas from the Caspian Sea through Turkey and on to Europe [...] The pipeline remains in limbo. Despite Russian insistence that construction could begin in 2016 and be completed by 2019, the 2 billion euro project does not have firm commitments from Turkey, and it also still faces opposition within Europe, which is trying to wean itself off of Russian gas. But with Greece's debt crisis hitting new lows, there remains the possibility that Russia could come to Greece's aid if the latter starts to pull away from Europe. And Greece has tried to use a potential turn towards Russia as leverage in talks with Europe [oilprice.com]

» July 03 2015 - #EnergyPolicy #EuElectricityMarket #EuDecarbonisation #RenewableEnergy [by energypost.eu] EU electricity market redesign: a protean moment. On 15 July, the European Commission will take a concrete step towards fleshing out its vision for an Energy Union for Europe. It will for the first time unveil its thinking on how the European electricity market should look in future and according to what rules it should function. We expect two strategy papers, one dedicated to the wholesale market, the other to the retail market [...] The goal of the redesign is that of the Energy Union: to see through a successful transition to a more secure, affordable, sustainable energy system. "In the 1990s, it was all about market integration. Now the policy priorities are decarbonisation and security of supply. Market design needs to evolve to give incentives for those priorities," explains Fabien Roques, co-author of a new study from FTI-CL Energy (see box) called "Toward the Target Model 2.0: Policy recommendations for a sustainable EU power market design". This was launched in Brussels on 29 June [...] Long-term price signals are equally important (on the decarbonisation front, this will also come from a reformed EU Emission Trading Scheme, ETS, the Commission notes) [...] Renewables should be fully integrated into the market, says the Commission too. This includes "balancing their portfolio" and contributing to increase system flexibility. "If necessary, existing provisions excluding particular means of power generation from normal market rules have to be revisited." A successful redesign also depends on getting the grid right. More interconnections will allow for a smoothing effect between the weather patterns in different countries for example. The Commission will come forward with a strategy next year for reaching a 15% interconnection target for 2030, it says [energypost.eu]

» July 03 2015 - #Oil #DeepWaterHorizon #BP #US [by wsj.com] BP PLC agreed to pay $18.7 billion to settle all federal and state claims arising from the 2010 Deepwater Horizon oil spill, including the biggest pollution penalty in U.S. history. If approved by a federal judge, Thursday's deal would conclude a monumental legal showdown over the Deepwater Horizon disaster, which killed 11 crew members aboard the drilling rig and caused the largest oil spill in U.S. waters. The agreement would avert years of litigation over the environmental impact of a spill that leaked millions of barrels of crude into the Gulf of Mexico over the course of 87 days and coated hundreds of miles of sensitive beaches, marshes and mangroves with oil. The settlement would add at least $10 billion to the roughly $44 billion BP has already incurred in legal and cleanup costs, pushing its tab for the spill higher than all the profits it has earned since 2012. The company will pay far less in fines-$5.5 billion of the settlement-s total-than the maximum $13.7 billion it faced under the federal Clean Water Act. But its payment would be the largest ever under that law, the government said, and the entire deal would be biggest it ever reached with a corporation [wsj.com]

» July 02 2015 - #Oil #NewOilContract #Iran #NuclearDeal #Geopolitcs [by ft.com] Mehdi Hosseini, an adviser to Iran's oil ministry who has been drafting a new energy contract for the past two years, said he expected President Hassan Rouhani to approve it in the coming months. The current system, which prevents companies from booking reserves or taking equity stakes in Iranian companies, has proved hugely unpopular with multinationals and deterred investors even before sanctions were tightened. US oil majors, which have had no presence in Iran since the 1979 Islamic revolution, would be able to bid for Iranian oil contracts if a nuclear deal between Iran and six world powers is agreed. A talks deadline was extended this week. The Islamic republic, which has the world's largest gas reserves and fourth-biggest oil reserves, has plans to increase its oil production capacity to about 5m barrels a day by the end of the decade from about 1mb/d since sanctions were introduced in 2012. Details of the new contract remain vague but Mr Hosseini said it would have a "flexible fee", address the risks of each project and take market fluctuations into consideration. Under some circumstances, reserves could be booked, but foreign companies would still not own oilfields he added. "The value of these contracts may exceed $100bn," [ft.com]

» July 02 2015 - #EntsoeEnergyOutlook #GeneratingCapacity #EU #Gas #Coal #Nuclear #RenewableEnergy [by entsoe.eu] Highest expected load growth forecast seems to be impacted by electrification processes and economic recovery. Annual monthly peak loads increase over the period 2016-2025 by 0.9%, and show a somewhat higher trend than energy consumption growth (0.8% annual). In 2016, the expected net generating capacity (NGC) is lower than previously reported in both Scenarios A and B. On the other hand, in the mid (2020) and long term (2025), the confirmed development of generation capacity, indicated in Scenario A, points to higher values than in SO&AF 2014. In the case of Scenario B a general postponement of new units is observed. Fossil fuel-based capacity is expected to fall after 2016 with lower values than in previous reports. Along with this general decrease of fossil fuel capacity, gas-fired power stations are also forecast to replace coal power stations. In the case of Scenario B, the total gas capacity increases by approximately 22 GW (annual growth of 1.13%) by 2025. In the case of nuclear power, capacity at ENTSO-E level will be maintained at around 120 GW until 2020. From 2020 until 2025, a decrease of 12% is foreseen in Scenario B. This results in a similar level of nuclear generation to that reported in Scenario A in SO&AF 2014. This means that the nuclear capacity in this year's Scenario B is nearly 9% (-11 GW) lower in 2025 compared with last year's forecast. Renewable energy sources (RES) will have a dominant role in new capacity additions over the upcoming years. While RES-HPP (Hydro Power Plants) NGC is expected to remain stable until 2025, the installed wind and solar NGC are forecast to increase by 80% and 60%, respectively. Biomass and other RES technologies will have a more marginal role. The progressively growing gap between Scenarios A and B reflects the uncertainty related to the revision of incentive policies and changes in the general economic framework conditions. Although the NGC is increased from 1021 GW in 2016 to 1167 GW in 2025 (in Scenario B), the increase in the so-called Reliable Available Capacity shows very little increase, from 602 GW to 611 GW. These results should be understood within the applied assumptions regarding so-called Unavailable Capacity, which for RES is proportional to (1 - RES Load Factor) [entsoe.eu]

» July 02 2015 - #OilPrice #US #SaudiArabia #ISIS #Iran #Iraq #Russia #China #Geopolitics [by daily-times.com] What is now at play in oil price formation is geopolitics. The Gulf in the Middle East is in a war - Shia and Sunni, Iran and Saudi Arabia - with the frontline in Iraq. Is the Islamic State of Iraq and the Levant (ISIS) a threat to the OPEC supply of crude oil? The reality "on the ground" is negative. ISIS requires the revenue from oil and not its disruption. If, however, one day there is a confirmed attack upon Saudi Aramco oil fields and refinery infra-structure, the speculators and hedge funds will buy oil and the price could reach $75 or more per barrel. If the damage was serious enough to take Saudi production off-line at the rate of 300,000 barrels per day the price of oil could approach $90. Libya is too small a producer to matter as a geopolitical variable in an upward price move. Military events in Iraq could affect oil production in a downward supply scenario. However, no war induced "scorched earth" option is likely as the Kurd interest continues to sustain oil production and pipelines to export markets. At the end of the month, the geopolitical impact of a nuclear non-proliferation treaty with Iran would release Iranian oil supply from the constraints of sanctions. Iran can export 1.5 million additional barrels per day. The Iranian post-treaty supply to an over-supplied global market would lower the price of West Texas Intermediate indirectly to a range of $38 to $46 which eliminates the recent rally of this year. It is not clear if OPEC can manage the Iranian supply which creates new conflicts for the cartel. It also creates cash flow pressures upon Southwest and Dakota unconventional producers and a new round of efficiency and cost measures. The other principal geopolitical threat to the price of oil is Russia and Ukraine. While the conflict is seen in Europe from the perspective of natural gas supply and dependence, the potential disruption to oil supply or Russian exports is serious. Russian production is now well over 10 million barrels per day with exports at 75 percent. Should the Minsk standoff agreement fail and military confrontation expand, the market perception would factor in a war over resources with accidental events escalating into a NATO response via Eastern European members. Naval interceptions of Russian crude oil would drive the financial services to speculative buying of oil. The West Texas Price of oil would reach $100 per barrel before U.S. Government margin (deposits in the future markets) restrictions and attempts at market containment. The South China Sea is a new threat since it is the sea-route of Middle East oil to Asia. China is building an island-base to defend its supply of oil imports. Vietnam in particular claims the same territory and has the capability to challenge China. Gun-boat diplomacy or worse will be buy signals to oil traders from now on [daily-times.com]

» July 02 2015 - #ClimateChange #CarbonEmissions #DeepOcean #ClimateModel #LosAlamosACME [by lanl.gov] Los Alamos National Laboratory scientists have developed a computer model that clarifies the complex processes driving ocean mixing in the vast eddies that swirl across hundreds of miles of open ocean. "The model enables us to study the important processes of ocean storms, which move heat and carbon from the atmosphere into the deep ocean," said Todd Ringler, who leads the Accelerated Climate Model for Energy (ACME) ocean science team at Los Alamos. "This happens very slowly, but over the next 1,000 years, much of the fossil fuel carbon emissions will end up in the deep ocean; ocean eddies make that happen [lanl.gov]

» July 02 2015 - #ClimateChange #GHGEmissions #Australia [by theguardian.com] The Climate Change Authority says Australia needs to cut carbon emissions by 30% by 2025 and sign up to further cuts of 40-60% by 2030 to catch up to other countries in the international effort to mitigate the risks of global warming. The authority's call for Australia to show increased ambition and global leadership comes ahead of the Abbott government announcing its final decision on the post-2020 targets Australia will take to United Nations climate talks in Paris later this year. 'The authority believes its recommendations constitute a credible package for the Australian government to take to the Paris conference,' the Climate Change Authority (CCA) said in its final report on emissions reduction targets, released on Thursday [theguardian.com]

» July 01 2015 - #ClimateChange #GHGEmissions #China #IndcUnfccc [by cleantechnica.com] China has kept its word and submitted a United Nations climate INDC. This occurs as the UN high-level meeting in New York winds down and an EU-China summit opens in Paris. Chinese Premier Li Keqiang reiterated to EU leaders in Brussels yesterday his nation's determination to work with the international community to seek a 'fair, reasonable, win-win' approach to global climate change mitigation and adaptation. The new China INDC is now available at the UNFCCC submissions website, along with new plans from Iceland and the Republic of Korea [unfccc.int]. It reiterates the huge and rapidly developing nation's commitment made at the summit between Presidents Xi Jinping and Barack Obama in November 2014 to limit the emerging nation's greenhouse gas output to a peaking target date around 2030 [...] Scaling up from the 40-45% goal for 2020, the China INDC pledges to cut the carbon emissions/GDP ratio for 2030 by 60% or more over 2005 levels. The Asian nation will also increase its renewable energy capacity, which rose 31% last year, to a full 20% of the energy mix by 2030. A national spokesperson emphasized wind and solar in yesterday's New York UN talk. China has already initiated carbon emission trading pilot programs in 7 provinces and cities and low-carbon development pilots in 42 provinces and cities. It also pledges to increase forest stock volume by around 4.5 billion cubic meters over the 2005 level and promote a low-carbon way of life. German news outlet Deutsche Welle reports that World Bank chief economist Marianne Fay stated that the China INDC should be seen as 'a floor, not a ceiling.'[cleantechnica.com]

» July 01 2015 - #Hydrogen #IeaReport #RenewableEnergy [by iea.org] With flexibility and energy density somewhat close to that of fossil fuels, hydrogen offers a way to integrate variable renewable electricity into the energy system that could resolve key emissions-reduction challenges in sectors such as transport, industry and buildings, as well as the electricity network. But not only is hydrogen technology's economic success uncertain, its necessary components are also less advanced than those of many other low-carbon alternatives. So a new IEA report, Technology Roadmap: Hydrogen and Fuel Cells, details the steps governments, industry and researchers need to take to foster and track deployment of the technology if hydrogen is to become a significant energy carrier by 2050 [iea.org]

» June 30 2015 - #EnergyPolicy #UE #EnergyPoverty #EuropeanCommissionStudy [by ec.europa.eu] The European Commission has published a new study on the state of energy poverty across Europe and ways to combat it. The study found that while many EU countries do have measures in place to protect vulnerable people, nearly 11% of the EU's population is in a situation where their households are not able to adequately heat their homes at an affordable cost. This situation is estimated to affect around 54 million people in Europe (2012 figures). The scale of the problem is due to rising energy prices, low income and poor energy efficient homes, and it is particularly prevalent in Central Eastern and Southern Europe, the study says. Under the EU's so-called Third Energy Market Package, the responsibility for addressing energy poverty, identifying vulnerable consumers and putting measures in place lies with national governments. However, a number of EU countries do not currently identify or quantify vulnerable consumers, and therefore cannot adequately target energy poverty measures. Less than a third of EU countries officially recognise energy poverty, and only a few have an official definition in their national legislation [ec.europa.eu]

» June 26 2015 - #Oil #Gas #Iran #US #EU #Russia #Opec #Geopolitics [by foreignpolicy.com] The Next Iranian Revolution. With an end to sanctions in sight, one of the world's richest oil and gas prizes is about to open up. That makes some nervous, but has oil majors and energy-hungry countries rubbing their hands in anticipation. The future of Iran's nuclear weapons program is the biggest question mark looming over the final negotiations between Tehran and global powers this week in Vienna. But almost as important, and with huge implications for the United States, Europe, Russia, and OPEC, is the breakout capacity of Iran's straitjacketed energy sector, if and when sanctions are lifted as part of the nuclear deal. The prospect of an end to sanctions, which have targeted Iran's energy sector and have sharply curtailed oil exports, have raised hopes inside the country and fears without that the long-shunned Persian giant will storm back onto global energy markets. Other oil producers inside OPEC - as well as U.S. oil producers working in the shale patch - fear that quick sanctions relief could unleash a glut of Iranian oil, which would push already low prices down even further [foreignpolicy.com]

» June 25 2015 - #NaturalGas #TurkishStream #Russia #Turkey #Geopolitics [by offshore-mag.com] Gazprom says Turkey has issued a permit on engineering surveys for the offshore section of the planned Turkish Stream gas pipeline system in the Black Sea. Investigations will be performed within Turkey's exclusive economic zone and territorial waters for installation of the first pipeline string. The offshore section of Turkish Stream will eventually comprise four strings, each with throughput capacity of 15.75 bcm (556 bcf). The lines will extend 660 km (410 mi) within the existing corridor of the South Stream project (postponed following sanctions against Russia) and 250 km (155 mi) within a new corridor toward the European part of Turkey. Natural gas from the first gas pipeline string will likely be allocated solely to the Turkish sector. Additionally, Gazprom says Turkey has confirmed that the findings of the original environmental impact assessment for the Turkish offshore segment of South Stream can be applied for construction of the new gas trunkline. Late last year, Gazprom and Turkish utility Botas signed a memorandum of understanding on constructing the Turkish Stream gas pipeline with an annual capacity of 63 bcm (2.22 tcf) [offshore-mag.com]

» June 25 2015 - #OilMarket #ThomsonReutersWebinar [by Thomson Reuters] The past six months have seen unprecedented level of uncertainty in the oil market. Will US production growth slow and if yes, when? Will we see more Iranian oil this year? Will demand rebound further due to lower prices? These are the key questions that remain unanswered. Thomson Reuters oil webinar - SESSION 1 Thursday 2nd July, 9.00am BST, 10.00am CET, 4.00pm SGT - SESSION 2 Thursday 2nd July, 10.30am CDT, 11.30am EST, 4.30pm BST [edge.media-server.com]

» June 24 2015 - #RenewableEnergy #BnefReport [by oilprice.com] After years of anticipation, the renewable energy revolution is finally here. Solar energy is poised to become the dominant player in electricity markets worldwide moving forward, capturing a large share of the expected $12 trillion in investment between now and 2040, according to a new report from Bloomberg New Energy Finance. Geographically speaking, the vast majority of the $12 trillion in investment will take place in the Asia-Pacific region, driven, as usual, by India and China. The report details the revolution that is just starting to get underway. By the middle of the next decade, utility-scale solar power will be competitive in most places around the world. The cost of solar has fallen by 75 percent since 2009, but costs are still going down. Over the next two and a half decades, not only will solar outcompete new fossil fuel plants - natural gas and coal - but solar will also start to edge out existing fossil fuel power plants[oilprice.com]

» June 24 2015 - #Oil #BPdata #UsOilProduction #IranProvenReserves #Geopolitics [by rcem.eu] Is the United States Really the World's Top Crude Oil Producer or is this a Figment of BP's Imagination? [...] For their data, BP Statistical Review relies on published figures from third party sources (which are usually bloated and highly political). Iran is a case in point. Since 2010 BP Statistical Review has been reporting that Iran has proven reserves of 157 billion barrels (bb) when two retired National Iranian Oil Company's (NIOC) experts: The late Dr Ali Samsan Bakhtiari and Dr Ali Muhammed Saidi estimated Iran's proven reserves at no more than 36 bb-37 bb [...] BP is doing it again. The 2015 issue of BP Statistical Review claims that the United States has overtaken both Saudi Arabia and Russia in 2014 to emerge as the world's top crude oil producer with an average daily production of 11.64 million barrels a day (mbd) in comparison with 11.51 mbd for Saudi Arabia and 10.84 mbd for Russia [...] First off, calling the US the world's top oil producer is inaccurate and also misleading. BP includes natural gas liquids (NGLs) which may not qualify as crude oil and condensates in its crude oil count [...] The Washington Post recently ran an article detailing the economic pains those layoffs are bringing to a subsection of the economy that grew to depend on those well-paying oil jobs. According to the article, 17,000 oil and natural gas jobs evaporated in the month of May alone, and now many of those workers are struggling to find other work [rcem.eu]

» June 23 2015 - #LowCarbonEnergy #EnergyEfficiency #SmartCities #H2020 #EU #EnergyTechnologies [by b2match.eu] A Brokerage Event in the field of Energy Technologies. Are you interested in submitting a proposal for 'Energy' in Horizon 2020? Start building your consortium of excellent partners from industry and academia now! Do not miss the following opportunity - free of charge. H2020 Energy - New Calls. 14th/15th September 2015 - EU Energy Infodays. 16th September 2015 - Brokerage Event. The event will target a wide spectrum of companies, universities and researchers from Europe and beyond to foster the creation of consortia for the upcoming Horizon 2020 Energy calls 2016/17 in the 3 Focus areas: EnergyEfficiency; CompetitiveLowCarbonEnergy; Smart Cities and communities [b2match.eu]

» June 23 2015 - #Oil #ShaleOil #Opec #US #Geopolitics [by brookings.edu] Why OPEC can't stop the shale oil industry. Some might argue that shale drilling flourished only briefly when oil prices were high, but they're forgetting that there hasn't been much supply coming from conventional sources of energy. OPEC is not what it used to be. The cartel of major oil producing nations, dominated by Saudi Arabia, used to meet to collude on cutting production in order to support prices. Now they meet to try to get someone else to do the cutting, and their target is the shale oil industry [brookings.edu]

» June 22 2015 - #NaturalGas #PV #MediumTermGasMarketReport2015 #IEA #CsisLive [by csis.org] The CSIS Energy and National Security Program is pleased to host Laszlo Varro, Head of Gas, Coal & Power Markets Division at the International Energy Agency (IEA), to present the IEA's Medium-Term Gas Market Report 2015. The annual report, which gives a detailed analysis and five-year projections of natural gas demand, supply and trade developments, examines the interaction of increased gas demand in light of substantial price drops while the upstream sector is suffering amid large capital expenditure cuts. The impact on global gas markets of Russia's strategic shift in its gas export policy and the rising tide of liquefied natural gas supplies are also given special consideration. The Medium-Term Gas Market Report is part of a series of annual reports the IEA devotes to each of the main primary energy sources: oil, gas, coal, renewable energy and energy efficiency. Live, Thursday, jun 25, 2015 | 10:00 AM - 11:30 AM [csis.org]

» June 22 2015 - #RenewableEnergy #PV #2015Outlook [by mercomcapital.com] Mercom Capital Group, llc, a global clean energy communications and consulting firm, projects a strong year for solar, forecasting global installations to reach 57.4 GW in 2015 [...] Mercom expects China, Japan and the U.S. to account for approximately 60 percent of global solar installations this year. Since Mercom's previous forecast three months ago, China has revised its solar installation target yet again by 20 percent to almost 18 GW for 2015. [...] China's solar installation goals were revised numerous times last year, and a similar trend can be expected this year if there are implementation issues on the ground. Trade skirmishes are now a familiar part of the solar sector. The European Union (EU) announced that it has opened investigations into imports from Taiwan and Malaysia. The EU is following the US-China template where antidumping duties were imposed on Chinese manufacturers, followed by another case against circumvention. The EU recently imposed tariffs on three solar companies for violating the minimum tariff agreement between China and the EU. The EU is also reviewing the current minimum import price agreement which is due to expire in December of this year. Mercom forecasts Japanese solar installations in 2015 to be approximately 10 GW. The Ministry of Economy, Trade and Commerce (METI) announced feed-in tariff (FiT) cuts in March [mercomcapital.com]

» June 22 2015 - #ClimateChange #EnergyPolicy #ClimatePolicy #LowCarbonEconomy #GlonalFinancialStability #PolicyBrief [by cigionline.org] Today, the financial sector is exposed to the physical risks associated with climate change and the impact of climate policies. Securing global financial and economic stability and scaling up low-carbon, climate-resilient investments are not conflicting, but rather mutually reinforcing, objectives. The fifth policy brief in the Fixing Climate Governance series argues that while crucial, classic climate policies do not appear sufficient to address the challenges from climate change that the financial sector is facing. Policies affecting and instruments matching the demand side and supply side of finance need to be aligned with climate objectives to efficiently shift investments toward a low-carbon, climate-resilient economy. Once the link between climate change and the mandates of international financial sector governance and regulatory institutions is understood, the existing tool kits and processes of these institutions - common standards, principles and guidelines with various levels of legal force, country surveillance and technical assistance - present entry points to mainstream climate-related risks and opportunities into their core operations [cigionline.org]

» June 19 2015 - #ClimateChange #EnergyPolicy #EnergyPost [by energypost.eu] With his encyclical "Laudato Si" the Pope has written more than a moral appeal without obligation. He has presented a pioneering political analysis with great explosive power, which will probably determine the public debate on climate change, poverty and inequality for years to come, argues Brigitte Knopf from the Mercator Research Institute on Global Commons and Climate Change. Through her secular eyes the implications of the encyclical become even more apparent: path-breaking is especially the fact that the Pope frames the atmosphere as a "global commons" and not as a "no man's land", which everybody, including the owners of fossil fuel resources, may pollute [energypost.eu]

» June 19 2015 - #ClimateChange #EnergyPolicy #IeaOutlook #CsisLive [by csis.org] 9:00 AM - 10:30 AM Friday, June 26, 2015 - The CSIS Energy and National Security Program is pleased to host Dr. Fatih Birol, Chief Economist and incoming Executive Director of the International Energy Agency (IEA), to present the IEA's World Energy Outlook 2015 Special Report on Energy and Climate Change. The special report presents a detailed first assessment of the energy sector impact of known and signaled national climate pledges for the climate change meeting in Paris in December 2015 (COP21). Additionally, it proposes a bridging strategy to deliver a near-term peak in global energy-related greenhouse-gas emissions, based on five pragmatic measures that can advance climate goals through the energy sector without blunting economic growth. Lastly, it highlights the urgent need to accelerate the development of emerging technologies that are, ultimately, essential to transforming the global energy system into one that is consistent with the world’s climate goals, and recommends four key pillars on which COP21 can build success from an energy sector perspective [csis.org]

» June 18 2015 - #UnconventionalOilGas #EnergyPolicy #US #Geopolitics #HarvardBusinessSchoolReport [by hbs.edu] America's unconventional gas and oil resources are a once-in-a-generation opportunity to enhance the nation's economic competitiveness while minimizing environmental impacts, and making major progress toward reduced greenhouse-gas emissions [...] In a joint research effort, Harvard Business School (HBS) and The Boston Consulting Group (BCG) have put forward a comprehensive plan [...] The report, America's Unconventional Energy Opportunity: A Win-Win Plan for the Economy, the Environment, and a Lower-Carbon, Cleaner-Energy Future, outlines a strategic, fact-based approach to developing America's new energy advantage such that it increases U.S. competitiveness and drives much-needed job and economic growth, while reducing environmental impacts and accelerating progress on climate change [hbs.edu]

» June 18 2015 - #RenewableEnergy #EnergyPolicy #REN21GlobalStatusReport #Geopolitics [by ren21.net] The newly released Renewables 2015 Global Status Report is now available. Find out what made 2014 another record year for renewables. First released in 2005, REN21's Renewables Global Status Report (GSR) provides a comprehensive and timely overview of renewable energy market, industry, investment and policy developments worldwide. It enables policymakers, industry, investors and civil society to make informed decisions. The Renewables Global Status Report relies on up-to-date renewable energy data, provided by an international network of more than 500 contributors, researchers, and authors [ren21.net] REN21 GSR Launch webinar - 18 June 2015, 7:30 a.m. EDT | 1:30 p.m. CEST. The Clean Energy Solutions Center, in partnership with the Renewable Energy Policy Network for the 21st Century (REN21), is hosting a no-cost, webinar-based training for the launch of REN21's flagship report, the Renewables 2015 Global Status Report. Discover how the energy and power markets are increasingly affected by renewable energy uptake. Investment levels and policy developments will also be discussed [cleanenergysolutions.org]

» June 17 2015 - #EnergyTransition #RenewableEnergy #EnergyEfficiency #EnergyPolicy #IeaPaper #Geopolitics [by iea.org] Enabling Renewable Energy and Energy Efficiency Technologies. The increased deployment of renewable energy and energy efficiency technologies (RE&EET) in the South Eastern Mediterranean (SEMED) region and in the Early Transition Countries (ETC) could bring a host of benefits, including enhanced energy security, increased national revenues and environmental gains. A new IEA Insights paper considers policy options for supporting the deployment of RE&EET, as well as the surrounding factors that can enable - or indeed impede - the successful implementation of such support policies in both regions. Drawing on a wealth of IEA analyses and policy experiences globally, the paper: provides a summary of the energy profiles of the ETC and SEMED regions; highlights overarching, "enabling" factors that can help to set the necessary foundations for the successful implementation of policy to support RE&EET deployment; analyses policy options for both RE and EE, drawing on practical examples and highlighting indicative policies that correspond with varying levels of market maturity; and provides a checklist for assessing the level of supportiveness of national policy frameworks for RE&EET. The paper concludes by pointing to the significant potential for energy efficiency and renewable energy gains in both regions [iea.org]

» June 17 2015 - #EnergyTransition #RenewableEnergy #ClimateChange #EU [by towards2030.eu] Towards 2030-dialogue project, publication of the 4th Issue Paper. The EU 2030 Framework for Renewables - Effective Effort Sharing through Public Benchmarks. The '2030 Climate and Energy Policy Framework' was adopted by the European Council on 23/24 October 2014. The centre pieces of this framework are a binding target of a 40% reduction of greenhouse gas emissions until 2030 compared to 1990, a 27% share of renewable energies in gross final energy demand and an indicative target of a 27% increase in energy efficiency compared to a 'business-as-usual' projection of the future energy demand. Contrary to the 2020 policy framework, the EU-target for renewables will not be broken down into legally binding national targets. Instead, the EU‐target shall be reached by clear, self-imposed commitments of each EU member state and guided by a solid governance framework as part of the Energy Union. To this end, the European Commission plans to develop indicators for evaluating national energy plans [towards2030.eu]

» June 17 2015 - #EnergyTransition #FossilFuels #Wind#SolarEnergy [by earth-policy.org] The Great Transition: Shifting from Fossil Fuels to Solar and Wind Energy, L.R. Brown, with J. Larsen, J.M. Roney, and E.E. Adams, Chapter 6. The Age of Wind. In the global transition from fossil fuels to wind and solar energy, wind has taken the early lead. Wind is abundant, carbon-free, and inexhaustible. It uses no water, no fuel, and little land. It also scales up easily and can be brought online quickly. Little wonder that wind power is expanding so fast. Over the past decade, world wind power capacity grew more than 20 percent a year, its increase driven by its many attractive features, by public policies supporting its expansion, and by falling costs. By early 2014, global wind generating capacity totaled 318,000 megawatts, enough to power more than 80 million U.S. homes. Wind currently has a big lead on solar PV, which has enough worldwide capacity to power more than 20 million U.S. homes. The leaders in wind generating capacity are China and the United States. At the start of 2014, China had 91,000 megawatts of wind generating capacity, followed by the United States with 61,000 megawatts. Germany ranked third, with 34,000 megawatts, followed by Spain and India with around 20,000 megawatts each. The United Kingdom, Italy, France, and Canada were clustered together in the 8,000-10,000 megawatt range [earth--olicy.org]

» June 17 2015 - #Oil #ShaleOil #US [by bakken.com] North Dakota's crude oil output has peaked, according to the latest production data published by the state government, as the slump in prices takes its toll. The state produced 1.17 million barrels per day (bpd) in April, down from a peak of 1.23 million in December, the Department of Mineral Resources (DMR) reported on Friday. The former rapid growth in production has stalled and current output is no higher than it was in September 2014 [...] They confirm that U.S. shale output is leveling off and even falling as the industry scales back drilling and completions in response to lower prices which are still 45 percent lower than this time last year [bakken.com]

» June 16 2015 - #EnergyUnion #Paper #QueenMaryUniversityofLondon [by R. Leal-Arcas, J.A.Rios, Queen Mary University of London - School of Law] The Creation of a European Energy Union. Energy security is one of the main problems that humanity faces today and the European Union (EU) has to rely on energy-rich countries for its energy needs. The European Innovation Union, the Energy Community, and the Europe 2020 initiative address energy security as a priority, but policies seem to be reactive instead of addressing energy security in its complexity. This problem can be solved with appropriate legal tools. Energy governance has links with several policies: trade, investment, environmental protection, energy transit, energy security, finance, et cetera. Of these policies, energy trade has a high impact for European energy security policy. Currently, the international community does not address trade in energy as a cohesive entity and its governance is fragmented. The paper explores the institutional legal framework for the creation of a European energy union, whose aim is to achieve affordable, secure and sustainable energy. This energy union is based on five pillars, which are analyzed: security, solidarity and trust; the completion of a competitive internal market; moderation of demand; the decarbonization of the EU energy mix (i.e., greater use of renewable energy); and technologies. The EU is the first region in the world to set up the ambitious target of decarbonizing its economy by 2050. The paper then looks at the energy union in the context of the rule of law. All of this could be reproduced in other regions of the world and eventually create a new international energy order. This requires a fresh and comprehensive approach to legal instruments [papers.ssrn.com]

» June 16 2015 - #ClimateChange #Energy #EmissionsPeak #IeaReport [by iea.org] World Energy Outlook 2015 Special Report. Peak in global energy-related emissions could be achieved as early as 2020 and at no net economic cost [...] The Agency showed how to achieve an early peak in emissions as one of four key pillars that it believes are needed to make the upcoming UN climate talks a success, from an energy perspective. The world is at a critical juncture in its efforts to combat climate change, with momentum building towards the 21st UN Conference of the Parties (COP21) in Paris in December 2015. World greenhouse-gas (GHG) emissions from energy production and use are double the level of all other sources combined, meaning that action to combat climate change must come first and foremost from the energy sector. The IEA proposes that the following four key pillars are needed to make COP21 a success, from an energy perspective: 1. Peak in emissions - set the conditions to achieve an early peak in globalenergy-related emissions. 2. Five--ear revision - review national climate targets regularly, to test the scope to raise ambition. 3. Lock in the vision - translate the world's climate goal into a collective long-term emissions goal. 4. Track the transition - establish a process for tracking achievements inthe energy sector [...] A peak in global energy-related emissions could be achieved as early as 2020 if governments implement just five key policy measures, as shown in the IEA's "Bridge Scenario". This major climate milestone is possible utilising only proven technologies and policies, and without changing the economic and development prospects of any region. Intended as an effective bridge to further action, the five measures focus on: Increasing energy efficiency in the industry, buildings and transport sectors. Reducing the use of the least-efficient coal-fired power plants and banning their construction. Increasing investment in renewable energy technologies in the power sector from $270 billion in 2014 to $400 billion in 2030. Gradual phasing out of fossil-fuel subsidies to end-users by 2030. Reducing methane emissions in oil and gas production [iea.org]

» June 15 2015 - #RenewableEnergy #IrenaReport [by irena.org] Increasing the implementation of renewable energy worldwide is a key component of any plan to curb climate change and decarbonize the planet. But to get where we need to go, we need to know where we are today. Towards this end, IRENA just released the world's most comprehensive, up-to-date and accessible figures on renewable energy capacity. Renewable Energy Capacity Statistics 2015, which includes figures from 2000 to 2014, contains 12,000 data points from more than 200 countries and territories. While capacity data is readily available for larger markets like China and Germany, information for smaller markets, like Small Island Developing States (SIDS), can be more difficult to find. The data reveals that renewable energy capacity has increased 120 per cent worldwide since 2000. While SIDS were not able to keep pace with this growth rate, the data finds that they did utilize a more diversified mix of renewable energy than other countries, including hydropower, bagasse, solar and wind power. Amongst SIDS themselves, notable trends include the rise of wind power in the Caribbean and a broader range of renewable energy developments in solar, wind and geothermal energy for Pacific SIDS. Another impressive trend gleaned from the data set is the growth in biogas, which was present in only 26 countries in 2000 and has now reached 63 countries worldwide [irena.org]

» June 12 2015 - #NaturalGas #RenewableEnergy #ElectricityMarket #EU #Algeria #Morocco [by ec.europa.eu] Commissioner launches Euro-Mediterranean gas platform. The platform aims to incentivise dialogue, facilitate partnerships between stakeholders and strengthen cooperation between the Members of the Union for the Mediterranean. It is the first of the three platforms - on gas, regional electricity market, and renewables and energy efficiency - to be launched following the Commissioner's visit to Algeria and Morocco last month. These regional platforms aim to deepen energy cooperation between the EU and South and East Mediterranean countries. The Gas Platform is expected to strengthen security of gas supply in the region by promoting regional cooperation around gas exploration and production, by supporting the development of necessary infrastructure and by reinforcing regional gas trade exchanges, making the Mediterranean basin a major gas marketplace in the future [ec.europa.eu]

» June 11 2015 - #FossilFuelSubsidies #CfrReport [by cfr.org] Subsidies that encourage fossil fuel consumption cost governments an estimated $500 billion annually and have vexed policymakers for years. The Maurice R. Greenberg Center for Geoeconomic Studies at the Council on Foreign Relations convened a group of roughly twenty experts in early May 2015 for an all-day workshop to discuss challenges, opportunities, and strategies of fossil fuel subsidy reform. This report summarizes the highlights of the discussion [cfr.org]

» June 11 2015 - #RenewableEnergy #Statistics #IrenaAtlas [by irena] On 16 June, IRENA is releasing the Global Atlas pocket, an app that enables anyone with a smart phone to prospect for renewable energy projects anywhere on the planet, for free. It is the most advanced tool of its kind, and allows any mobile device to be turned into a prospecting tool for renewable energy opportunities. The pocket helps answer questions like, can geothermal energy power this island? What percentage of this city can be powered by solar energy? If I want to invest in a wind power project, where are the highest potential locations? [gotowebinar.com]

» June 10 2015 - #Energy #EnergyPolicy #Statistics ##BPStatisticalReviewOfWorldEnergy2015 [by bp.com] The 2015 edition of the BP Statistical Review of World Energy, launched today, highlights how significant changes in global energy production and consumption have had profound implications for prices, for the global fuel mix, and for global carbon dioxide emissions. The 64th annual edition of the Statistical Review highlights the continuing importance of the US shale revolution, with the US overtaking Saudi Arabia as the world's biggest oil producer and surpassing Russia as the world's largest producer of oil and gas. On the consumption side, the Statistical Review records primary energy consumption slowing markedly, with growth of just 0.9% in 2014, a lower rate than at any time since the late 1990s (other than in the immediate aftermath of last decade's financial crisis). Chinese growth in consumption slowed to its lowest level since 1998 as its economy rebalances away from energy intensive sectors, though China remained the world's largest growth market for energy [bp.com]

» June 10 2015 - #Energy #Oil #Gas #Coal #Renewable #EnergyPolicy #Statistics #StatoilPerspectives [by csis.org] The CSIS Energy and National Security Program is pleased to host Eirik Wærness, Chief Economist in Statoil, to present the company's newly released Energy Perspectives 2015 publication. The report describes the macroeconomic and market outlook to 2040 including supply, demand, energy trade and CO2 impacts. The outlook illustrates some of the uncertainties about the future through modeling various scenarios. This year's report describes the possible development in global energy markets towards 2040 through three alternative scenarios, called Reform, Renewal and Rivalry, respectively [csis.org]

» June 10 2015 - #Energy #Oil #Gas #Coal #Renewable #EnergyPolicy #Statistics #BPReview [by bp.com] BP, Statistical Review of World Energy 2015 - webcast. What changes to global oil production and consumption drove the sharp fall in oil prices in 2014? How did slower economic growth in China and other emerging markets impact energy consumption? How has continuing strong growth in US shale oil and gas production altered its importance as an energy producer? In the run-up to the UN climate change conference in Paris, where are CO2 emissions rising and falling? Did the US remain the world's leader in renewable energy use? Live webcast marking the launch of the 64th annual BP Statistical Review of World Energy at 10am (BST) on 10 June 2015 [bp.com]

» June 09 2015 - #Coal #US #CleanPowerPlan #MercuryandAirToxicsStandard #Epa #GasPrice [by jrwpolicy.com] You would think that the Clean Power Plan must be responsible for the loss of coal mining jobs. Think again. Coal mining jobs have been in decline for 20 years. There have been coal plant closures in the electric power sector and there will be more. But EPA's proposed carbon dioxide rule is not the main culprit. In fact 18 gigawatts of coal-fired capacity have already been retired since 2011 and the Clean Power Plan final rules have yet to be published. There is another EPA rule with a much lower public profile than the Clean Power Plan but a much more dramatic and immediate impact on public health, air quality and electricity generation. Under EPA's Mercury and Air Toxics Standard (known as MATS), it is now illegal to emit deadly toxins such as mercury and arsenic into the air. MATS requires coal-fired power plants to control emissions of acid gases, toxic metals and mercury. Power plant operators can control the emissions by installing either flu-gas desulfurization equipment (scrubbers) or dry sorbent injection systems. Coal-fired power plants must comply with MATS or shut down by April 2016. Faced with the prospect of costly retrofits and low natural gas prices, 138 coal-fired generating units have already been retired. Most of these are the oldest, smallest, least efficient and most polluting units in the power fleet. According EIA analysis, considering the combined impact of all environmental rules and market forces, 40 gigawatts of coal-fired power capacity will retire over the next 25 years even if the Clean Power Plan never goes into effect. A combination of market forces and environmental demands - i.e. lower natural gas prices, stagnant electricity demand, mercury and air toxics regulatory compliance, and state policies promoting renewable energy sources - are making older coal-fired plants obsolete [jrwpolicy.com]

» June 09 2015 - #Coal #G7 #Britain #GErmany #Italy #Japan #France [by theguardian.com] Five G7 nations increased their coal use over a five-year period, research shows. Britain, Germany, Italy, Japan and France burned more coal between 2009 and 2013 and demanded poor countries slash their carbon emissions. Five of the world's seven richest countries have increased their coal use in the last five years despite demanding that poor countries slash their carbon emissions to avoid catastrophic climate change, new research shows. Britain, Germany, Italy, Japan and France together burned 16% more coal in 2013 than 2009 and are planning to further increase construction of coal-fired power stations. Only the US and Canada of the G7 countries meeting on Monday in Berlin have reduced coal consumption since the Copenhagen climate summit in 2009 [theguardian.com]

» June 09 2015 - #ClimateChange #ClimatePolicy #ClimateFinance #ClimateAgreement #G7 #Cop21 #Geopolitics [by g7germany.de] G7, Preparations for the UN Climate Change Conference in Paris. The focus was first on climate policy. The paramount goal of the G7 is to prepare for the UN Climate Change Conference in Paris at the end of the year, where a binding global climate agreement is to be adopted. For Chancellor Angela Merkel it is important that the G7 participants affirm their commitment to the 'two-degree target', i.e. to keep global warming down to a rise of no more than 2°C as compared to the pre-industrial era [...] The same applies to climate finance. It is important that the G7 confirm their pledge to mobilise climate finance of 100 billion euros a year as of 2020. In the field of energy, the G7 intend to support the Communique from the G7 Energy Ministers' Meeting. One of the things agreed at their meeting in mid-May in Hamburg was to enhance energy security [g7germany.de]

» June 08 2015 - #ClimateChange #ClimateNegotiations #UNFCCC #COP21Paris #Geopolitics [by csis.org] International Climate Negotiations Glossary. This glossary provides an overview of terms used by negotiators and others when discussing international climate negotiations. While several excellent climate glossaries exist-including from the U.S. Environmental Protection Agency and the United Nations Framework Convention on Climate Change (UNFCCC)-that provide technical definitions of terms, this glossary also provides the political and economic context for understanding the developments leading up to the Conference of Parties 21 (COP 21) in Paris in December 2015. At COP 21, Parties to the UNFCCC will be negotiating an international agreement that provides the framework for greenhouse gas emission reduction beyond the year 2020 [csis.org]

» June 08 2015 - #EnergySecurity #EnergyCharterTreaty #UE #EnergyCommunity #OilGasReserves #Geopolitics [by Queen Mary University of London] The Energy Community, the Energy Charter Treaty and the Promotion of EU Energy Security. The European Union (EU) is for its most part dependent on the world outside its borders for a steady and secure energy supply. The EU borders, or is close to, areas rich in energy-related natural resource endowments - such as Russia, the Caspian Sea, the Middle East and North Africa regions, and Norway - from where the bulk of energy imports into the EU are sourced. The collapse of the Soviet Union and of the bureaucratic regimes in Central and Eastern Europe - which precipitated the opening up of those economies to globalization and its attendant processes - has increasingly made their energy-related natural resource endowments available on global markets. Developed, yet energy-poor, Western economies - many of which have galvanized behind the EU - saw opportunities to enhance their energy security through those economies on the brink of collapse. To that end, the EU has sought to entangle those energy-rich (or otherwise 'energy-significant' states, e.g., regarding energy transit) areas into multilateral regimes - such as those based on the Energy Charter Treaty and the Energy Community. While both these special regimes count among their numbers several parties that are not EU member states, they are not neutral in their ontology, given that these regimes, since their inception, are inherently linked to the energy interests of EU economies. The present chapter presents an analysis of these regimes and their systemic relationship to the EU [papers.ssrn.com]

» June 05 2015 - #OilGas #Capex #USCompanies #OilPrices #OilGasReserves, #ErnstYoungReport [by ogj.com] US oil and gas companies reported increases across the board in capital expenditures, revenues, and reserves in 2014 as oil prices nearly halved during the second half, according to an annual oil and gas reserves study conducted by Ernst & Young unveiled in Houston on June 3. The study analyzes US upstream spending and performance data for the past 5 years for the largest 50 companies based on yearend 2014 oil and gas reserves estimates from disclosure information reported to the US Securities and Exchange Commission. Compared with 2013, revenues increased 10% in 2014 while yearend oil and gas reserves gained 8% and 7%, respectively [...] A 16% rise in capex in 2014 to $200.2 billion, however, contrasted with a decrease in overall spending during the previous year [...] it's "a much different world now" as prices hover about $60/bbl compared with the beginning of the year when they fell toward $40/bbl. He believes $50-60/bbl oil is "much more attainable" for companies to generate profit, but they need liquidity to survive the weaker months. "I think over time they will find a way to be profitable in this environment," [...] drilling and completions costs per well are declining, and cost reductions are compensating for reserves reductions [ogj.com]

» June 05 2015 - #ElectricityConsumtion #RenewableGeneration #FossilFuelGeneration #EU #ENTSO-EReport [by entsoe.eu] ENTSO-E electricity consumption is decreasing. Overall electricity consumption in the ENTSO-E perimeter reached 3 210TWh in 2014. It is 2.4% lower than in 2013, underthe combined effects of mild weather conditions, economic slowdown and energy efficiency efforts. This fits in with the continuous trend of consumption decrease observed in the ENTSO-E area since 2010. In 2014, the peak load of the overall system reached 522GW on 29 January at 7pm and was below the historical maximum of 557.3GW reached in February 2012, when an exceptional period of cold weather stroke the main part of Europe. FOSSIL FUEL GENERATION ON THE DESCREASE WHILE RENEWABLE GENERATION KEEPS ON PROGRESSING. The Net Generating Capacity (installed capacity) of fossil fuel, nuclear and hydraulic is stable. The capacity of other Renewable Electricity Sources (RES) increased by 11GW and has now reached 22% of the total Net Generating Capacity of ENTSO-E. The reduction of consumption has resulted on average to a decrease of the total net generation. The evolution of the net generation between 2013 and 2014 however differs from one type of fuel to the other: wind and solar energy increased by 12% each, while fossil fuels decreased by 7%. Hydraulic and nuclear generation remain stable. Including hydro generation, 32% of the consumption in ENTSO-E was covered by renewable energy sources in 2014. INCREASED CROSS BORDER EXCHANGES AND RENEWABLES DRIVE THE NETWORK DEVELOPMENT. Electricity exchanges are facilitated by the interconnected network. In 2014, ten countries within the ENTSO-E perimeter exported more than 10% of their annual national generation to neighbouring countries. Thirteen other countries of ENTSO-E imported more than 10% of their annual internal consumption from other ENTSO-E countries. As in 2013 exports from countries along a North-East to SouthWest axis increased and were related to an energy mix based on hydro, coal and renewables. Countries where gas fired plants are preponderant saw an increase of imports due to a market context unfavourable to gas. As electricity consumption is low, the development of renewables and cross-border exchanges are actually the main drivers for the development of ENTSO-E interconnected network [entsoe.eu]

» June 05 2015 - #RenewableEnergy #SolarEnergy #PV #ScientificPaper [by solarthermalmagazine.com] The efficient conversion of light into electricity plays a crucial role in many technologies, ranging from cameras to solar cells. It also forms an essential step in data communication applications, since it allows for information carried by light to be converted into electrical information that can be processed in electrical circuits. Graphene is an excellent material for ultrafast conversion of light to electrical signals, but so far it was not known how fast graphene responds to ultrashort flashes of light. CFO researchers Klaas-Jan Tielrooij, Lukasz Piatkowski, Mathieu Massicotte and Achim Woessner led by ICFO Prof. Frank Koppens and ICREA Prof. at ICFO Niek van Hulst, in collaboration with scientists from the research group led by Pablo Jarillo-Herrero at MIT and the research group led by Jeanie Lau at UC Riverside, have now demonstrated that a graphene-based photodetector converts absorbed light into an electrical voltage at an extremely high speed. The study, entitled Generation of photovoltage in graphene on a femtosecond timescale through efficient carrier heating, has recently been published in Nature Nanotechnology [solarthermalmagazine.com]

» June 05 2015 - #ClimateChange #UNFCCC #BonnConference [by unfccc] UNFCCC, Bonn Climate Change Conference, Climate Action Network International. Second working group session of the multilateral assessment under the international assessment and review process [live now]

» June 05 2015 - #ClimateChange #ClimateFinance #COP21 #C2esReport [by c2es] Addressing Finance in a 2015 Climate Agreement. A central issue in the Paris climate negotiations is how the new global climate agreement to be reached this year can help strengthen climate finance for developing countries. Developed countries have committed under the United Nations Framework Convention on Climate Change (UNFCCC) to help developing countries reduce their greenhouse gas emissions and adapt to the impacts of climate change. The new agreement will build on steps already taken and define an approach to climate finance for the post-2020 period. This brief provides an overview of: existing finance commitments, institutions and mechanisms under the UNFCCC and the Kyoto Protocol; current climate finance flows; potential finance-related objectives in a 2015 climate agreement; and options for addressing finance in the 2015 agreement [c2es]

» June 04 2015 - #ClimateChange #RenewableEnergy #LowCarbonEconomy #GlobalApolloProgramme #UK [by globalapolloprogramme.org] The Global Apollo Programme, A major global research programme to make carbon-free baseload electricity less costly than electricity from coal, and to do it within 10 years. The plan is the brainchild of a group of eminent UK scientists, economists and businessmen including Sir David King, Lord Nicholas Stern, Lord Adair Turner and ex-BP chief Lord John Browne. The challenge. To avoid irreparable damage, governments of the world have agreed to limit the world's rise in temperature to 2°C. This means an absolute limit on the total accumulated CO2 that can be produced. On present trends that limit will be breached by 2035. So we must urgently reduce our annual output of CO2. The method. Carbon-free energy must rapidly become less costly to produce than energy based on coal, gas and oil. This requires a major scientific and technological programme of research, using the best minds in the world and the best science. The objective of the Programme. Within 10 years, baseload wind and/or solar power will become less costly in every country than power based on coal. The scale of the Programme. Countries joining the Programme will devote at least 0.02% of GDP to public expenditure on the Programme over a 10-year period. The organisation of the Programme. The Programme will be modelled on the International Technology Roadmap for Semiconductors which has reduced semiconductor prices year on year for thirty years. There will be a Commission of countries which decide to join. This will appoint a Roadmap Committee which identifies the bottlenecks to cost reduction year on year and co-ordinates international research to unblock the bottlenecks. Areas to be tackled include electricity storage and transmission, and the generation of wind and solar power. It is hoped that the management of the Programme will be co-located with the International Energy Agency in Paris but the Programme will include many countries that are not members of the IEA. Progress. Over the last year the Programme has been privately discussed with Governments worldwide and has been widely welcomed. The issue will be discussed at the G7 meeting on 7-8 June, and it is hoped that by the end of the year the major countries of the world will have decided to join [globalapolloprogramme.org]

» June 04 2015 - #ClimateChange #GHG #RegionalEmissionsManagement #US #CleanPowerPlan, #CsisWebinar [by csis.org] The Future of the Regional Greenhouse Gas Initiative (RGGI). The CSIS Energy and National Security Program is pleased to host a discussion on the future of the Regional Greenhouse Gas Initiative (RGGI) under changing leadership. The keynote address will focus on the outlook for regional emissions management in the Northeast. Following the keynote, an expert panel will discuss the background and history of RGGI, the opportunities for using RGGI as a compliance tool under the Clean Power Plan (CPP), and the political context of potential RGGI expansion. 10:00 AM - 12:00 PM. Watch Live [csis.org]

» June 04 2015 - #Oil, #SaudiArabia, #OilWarPrice, #FPReport, #Geopolitics [by foreignpolicy.com] Saudi Arabia Takes Out Its Energy Weapon. Riyadh is pushing to keep the oil taps open at Friday's OPEC meeting. That's a direct challenge to enemies in Tehran and Moscow, not U.S. wildcatter. The OPEC oil cartel made a surprising decision last fall to keep pumping oil into a market already awash in the black gold. On Friday in Vienna, they'll almost certainly double down on that strategy. Despite plenty of brave rhetoric from OPEC ministers this week, that's less a reflection that the cartel is winning the oil wars than a recognition that its most powerful member, Saudi Arabia, is in a long-term fight to defend its privileged position - and take geopolitical rivals like Iran and Russia down a notch [foreignpolicy.com]

» June 04 2015 - #Nuclear, #Coal, #RenewableEnergy, #Germany [by uk.reuters.com] The multi-billion euro decommissioning of Germany's nuclear power plants could be facilitated by adopting a similar model to the phas-out of its coal mines, the head of the foundation set up to run the coal mining closures will say in a speech on Friday. Werner Mueller will argue the power utilities who own the nuclear plants should pool the funds set up to finance their run-down and drop their more than 20 separate legal battles over damages they say they have suffered as a result of the government's nuclear policies. Mueller is head of the RAG foundation dealing with liabilities of the former Ruhrkohle AG. RAG holds a majority in chemicals maker Evonik, into which Ruhrkohle's activities were transferred and whose profits help cover its coal mining liabilities. The executive's comments are potentially significant because relations between Berlin and Germany's big utilities are fraught and with his track record of resolving the coal industry problems he could be a mediator that the two sides listen to. Utilities RWE, E.ON, EnBW and Vattenfall are scheduled to switch off their nuclear plants by an accelerated 2022 deadline, set after the 2011 Fukushima disaster in Japan. They have built up a total of 38.5 billion euros ($42 billion) for the purpose of pulling down reactors and disposing of nuclear waste. But a structural crisis in Germany's energy sector, stemming from government policies in favour of renewables, is putting increasing doubts on whether the companies will be able to stump up the funds [uk.reuters.com]

» June 03 2015 - #EnergyInfrastructure, #SmartGrids, #RenewableEnergy, #EnergyEfficiency, #IeaReport [by iea.org] Smart grids present an important element in meeting the challenge to move toward sustainable energy infrastructure. Improving efficiency, facilitating integration of renewable energy sources and providing system resilience, flexibility and security are among the many substantial benefits that smart grid technologies can bring. The IEA How2Guide for Smart Grids in Distribution Networks provides guidance on developing and implementing a national or regional smart grid roadmap, in mature and developing grids alike, walking stakeholders through the process, including: planning and preparation; visioning preparing the roadmap; implementation and monitoring [iea.org]

» June 03 2015 - #CO2Emissions, #India, #PowerPlants [by carbonmarketdata.com] India GHG Reporting Company Database. CO2 emissions data from 450 Indian power plants. The India GHG Reporting Company Database provides the following information on 450 Indian power plants [carbonmarketdata.com]

» June 03 2015 - #RenewableEnergy, #EU, #US, #China, #Geopolitics [by energypost.eu] The West must do as the Chinese: build renewables systems for energy security and abundance. In the western world renewables are burdened by the idea that they are a moral imperative, essential to fight global warming, writes professor John Mathews. By contrast China is building renewables systems as an economic imperative. Unless Western countries follow the Chinese model and intervene in their economies to build green energy and resource systems, they will continue to be defeated by China [marketsandmarkets.com]

» June 03 2015 - #OilAndGasindustry, #OilGasMajors, #CDatamanagementMarket [by marketsandmarkets.com] The total Oil and Gas Data Management market is expected to grow from $6.08 Billion in 2015 to $21.22 Billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 28.4% from 2015 to 2020. Oil exploration companies are exploring for oilfields located in remote and harsh environment to fulfill the gap between supply and demand. The trend of exploitation of offshore deep-water reserves and development of unconventional reserves is being followed by most of the oil and gas companies. This will require IT infrastructure, data analysis and consultation service to optimize performance and maintain safety standards. The oil and gas data management market has been broadly segmented into three main categories which includes IT infrastructure, Data management and Services. The Oil and Gas industry requires complex technical data to be deployed in diverse ways. However, the costs, time and risks associated with managing and moving this data are high. The rising trend of adoption of modern technologies and solutions in the entire value chain of oil and gas sector is playing huge role for companies to achieve the best operational efficiency targets set by oil and gas companies. The energy sector produces vast and varied amounts of information: raw exploration data, real-time production data, refinery process-related data, and trading and retail information [marketsandmarkets.com]

» June 02 2015 - #ClimateChange, #OilGasMajors, #CarbonPricing [by ogj.com] European oil, gas majors call for carbon pricing systems. Recognizing "the importance of the climate challenge," six major European oil and gas companies have joined together in calling for governments around the world and the United Nations Framework Convention on Climate Change (UNFCCC) "to introduce carbon pricing systems and create clear, stable, ambitious policy frameworks that could eventually connect national systems." BP PLC, BG Group PLC, Royal Dutch Shell PLC, Statoil ASA, Eni SPA, and Total SA jointly documented their position in a letter from their chief executives to the UNFCCC Executive Secretary and the president of the COP21 ahead of the UNFCCC's COP21 climate meetings in Paris in December. They note that the current trend of greenhouse gas emissions is more than what the Intergovernmental Panel on Climate Change says is needed to limit global temperature rise to no more than 2°C [ogj.com]

» June 02 2015 - #RenewableEnergy, #REN21Report, #Webinar [by cleanenergysolutions.org] REN21 Global Status Report Launch: Domination of Renewables. 18 June 2015, 7:30 a.m. EDT | 1:30 p.m. CEST. The Clean Energy Solutions Center, in partnership with the Renewable Energy Policy Network for the 21st Century (REN21), is hosting a no-cost, webinar-based training for the launch of REN21's flagship report, the Renewables 2015 Global Status Report. Join us for this webinar and find out what made 2014 another record year for renewables. Learn about how increased additions of solar PV and wind in the electricity sector have driven other energy sectors. Discover how the energy and power markets are increasingly affected by renewable energy uptake. Investment levels and policy developments will also be discussed [cleanenergysolutions.org]

» May 29 2015 - #NaturalGas, #IGU, #Geopolitics [by energypost.eu] 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 Jerome 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!" [...] there are plenty of reserves to enable a global transition to a gas-supported sustainable energy system. [...] the distribution of conventional resources is heavily concentrated at the moment. "60% of conventional gas reserves are in four countries: Russia, Iran, Turkmenistan, Qatar." Here is where the development of unconventional gas could be important [...] "The largest shale gas resources are located in countries such as the US, Mexico, Argentina, Algeria, China and Australia. Geopolitically this is very exciting. Non-conventional gas will increase diversification." [energypost.eu]

» May 29 2015 - #FossilFuelSubsidies, #ImfWorkingPaper [by imf.org] How Large Are Global Energy Subsidies?. Pre-tax subsidies were 0.7 percent of global GDP in 2011 and 2013, and are projected to decline by about one-third to 0.4 percent of global GDP ($333 billion) in 2015. This reduction reflects both the decline in international energy prices and an assumption that many countries only partially pass-through those reductions to retail prices based on their historical pass-through experiences. Lower pre-tax subsidies for petroleum, natural gas, and electricity account, respectively, for 63 percent, 9 percent, and 28 percent of the reduction in total pretax subsidies between 2013 and 2015 (the level and change in coal pre-tax subsidies are negligible). What is most striking [...] is the dramatically larger size of post-tax subsidies, which are eight times as large as pre-tax subsidies in 2011 and 16 times the level in 2015. In fact, despite the sharp drop in international energy prices, post-tax subsidies have remained high, at 5.8 percent of global GDP ($4.2 trillion) in 2011, 6.5 percent ($4.9 trillion) in 2013, and also 6.5 percent ($5.3 trillion) in 2015. The main reason for this is the high growth in energy consumption, in particular for coal, in countries with relatively high environmental damage from coal. The other striking finding is the much higher estimate of post-tax subsidies, which are about twice as high for 2011 [imf.org]

» May 29 2015 - #Coal, #CoalDivestment, #Norway, #NorwegianGovernmentPensionFundGlobal [by ieefa.org] Where Norway Leads on Coal Divestment, Others Will Follow. It was a coal-divestment shot heard 'round the world yesterday when the finance committee of Norway's parliament agreed in bipartisan fashion to have the country's $900 billion public pension fund pull billions of dollars out of coal sector holdings. Of course the motion must still be put to the entire membership of the unicameral parliament on June 5, but the momentum is in place. What we're watching unfold in Norway are the actions of a fiduciary-the Norwegian parliament-as it debates, deliberates, and now makes a decision on coal investments. The Norwegian Government Pension Fund Global has exhausted its efforts to constructively engage coal companies, and divestment is the logical next step. The fund is one of the most active investors in the world on matters of public health and the environment, and it is not shy about making its positions known. Norway will no doubt continue to rely on the tools of persuasion to encourage responsible corporate behavior, but in the case of coal, the die is now cast. Fund managers elsewhere should take note. [wri.org]

» May 29 2015 - #ClimateChange, #EmissionsReductionCountriesPledges, #INDCs, #UndpWriReport [by wri.org] Designing and Preparing Intended Nationally Determined Contributions (INDCs). This report guides countries on the preparation and design of Intended Nationally Determined Contributions (INDCs), including detailed technical guidance and process-related considerations. It walks practitioners through the choices they will face in preparing and designing their INDCs, laid out in five general steps: identifying the benefits of an INDC, organizing the INDC process, identifying data and analysis to inform the INDC, designing the INDC, and communicating the INDC [wri.org]

» May 29 2015 - #ClimateChange, #ClimateFinance, #Shell, #OilCompanies, #Stern [by theguardian.com] Nick Stern: Shell is asking us to bet against the world on climate change. Oil giant is wrong on climate policy and on the progress that will be made in renewables over next 20-30 years, says influential economist Nick Stern. Shell is asking investors to bet against the world taking action on climate change or in renewables displacing fossil fuels, says influential economist Nick Stern. [...] Lord Stern said Shell and other hydrocarbon companies were getting it wrong on the potential of renewables technology and that people will insist on policies to hold global warming to 2C. "They do not believe the world will be wise enough to follow policies that can hold the world to 2C and are asking us to bet against the world ... telling us that we won’'t do what we've set out to do and that it is a safe bet to bet that we won't. "We have to try to show them that they are wrong and that we can get the world's people to insist that we must follow those policies. We must try to build pressure to try to make that 2C assumption correct and the forecast of the energy companies wrong." Stern's intervention comes after Shell CEO Ben van Beurden told the Guardian that his company would continue to look for new reserves of oil and did not believe its assets were overvalued or unusable as a result of current or reasonably foreseeable future legislation concerning carbon. He also said renewables did not produce enough financial return to justify more investment. [...] Stern said most effective divestment strategy did not just look to divest from fossil fuel companies, but to positively keep stocks or invest in companies that were taking responsible action on climate change [...] the best way to undermine demand for fossil fuels would be to expose people to the proper price through taxing carbon and ending subsidies [theguardian.com]

» May 28 2015 - #OilCompanies, #GHGEmissions, #EnergyMix, #CarbonReductionTool, #OilGasClimateInitiative, #Cop21 [by eni.com] Coinciding with Paris Climate Week 2015, the Oil and Gas Climate Initiative (OGCI) - whose members include BG Group, BP, Eni, Pemex, Saudi Aramco, Shell, Sinopec and Total - held its first high-level multi-stakeholder workshop meeting to discuss sector contributions to help address climate change. Combined, OGCI member companies produce almost 25 million barrels of oil equivalent a day, around one-sixth of the world's oil and gas production. OGCI and its member companies are committed to an ambitious and action-focused agenda to drive the sector forward on climate change contributions. This includes proactively strengthening collaboration, information sharing and joint reporting to improve oil and gas industry greenhouse gas emissions management and to help drive the transition to lower carbon energy. During the one-day OGCI meeting experts from a wide range of oil and gas industry stakeholder groups participated in technical workshops clustered around the OGCI's three active, priority work-streams: Role of Natural Gas - including role of natural gas in the energy mix, methane emission management, reduction of gas flaring, and energy efficiency. Carbon Reduction Instruments & Tools - managing greenhouse gas emissions and improving the operating and product efficiency of oil and gas production companies. Long Term Solutions - developing visions of the long term energy mix and assessing innovative technology, regulation and change in customer behaviour. The OGCI workshop meeting was addressed by Christiana Figueres, Executive Secretary, United Nations Framework Convention on Climate Change and Janos Pasztor, Assistant Secretary-General on Climate Change, United Nations. Outcomes from the workshop will help inform the OGCI's first joint report that will be published ahead of the 21st session of the Conference of the Parties to the UNFCCC (COP21). The report will highlight practical actions taken by OGCI member companies to improve greenhouse gas emissions management and to transition to lower carbon energy in the longer term [eni.com]

» May 28 2015 - #LowCarbonEconomy, #GHGEmissions, ClimateChangeImpacts, #US, #ClimateCommitment, #WriReport [by wri.org] Delivering on the U.S. Climate Commitment: A 10-Point Plan Toward a Low-Carbon Future. Mounting evidence indicates that combating climate change is compatible with strong economic growth, and that the benefits of a low-carbon economy can outweigh the costs. Many of the key drivers of economic growth-including more efficient use of resources, infrastructure investments, and technological innovation-can also drive a transition to a lower carbon economy. This has been demonstrated across the United States, where numerous low-carbon investments are already saving money for businesses and consumers, creating new job opportunities in low-carbon technology sectors, and improving public health. Ambitious action is needed to avert the worsening impacts of climate change. In the absence of concerted, global efforts, greenhouse gas (GHG) emissions will continue to rise, posing huge economic, social, and environmental risks to the United States, as well as the global community. The year 2014 was the hottest on record, and the impacts of climate change are becoming more frequent and severe, with increasing costs to businesses, consumers, and public health. The United States is already experiencing sealevel rise, higher frequency of flooding, heavier precipitation events, and more frequent heat waves and wildfires. As the largest economy and the second-largest emitter of GHGs, U.S. leadership is required for a global transition to a low-carbon economy. In this paper, we present pathways that illustrate how the United States could move toward a lower-carbon economy and meet its climate goals in the 2025-30 timeframe [wri.org]

» May 28 2015 - #EnergyPolicy, #US, #CentralAsia, #Kazakhstan, #Kyrgyzstan, #Tajikistan, #Turkmenistan, #Uzbekistan, #Geopolitics, #CsisReport [by csis.org] Central Asia in a Reconnecting Eurasia. U.S. Policy Interests and Recommendations. Energy infrastructures [...] The two most significant projects being implemented under the New Silk Road rubric, CASA-1000 and TUTAP (TurkmenistanUzbekistan-Tajikistan-Afghanistan-Pakistan), are designed to deliver surplus electricity from Central Asia to the large, electricity-poor markets of South Asia. Still on the drawing board is the Turkmenistan-Afghanistan-Pakistan-India (TAPI) natural gas pipeline, which could allow Turkmenistan to reduce its dependence on China and Russia while addressing growing demand for energy in South Asia. These projects, and the hopes for a more stable Afghanistan that is motivating their development, require continued U.S. engagement and investment in Central Asia [...] the gas pipelines linking Turkmenistan, Kazakhstan, and Uzbekistan (and soon Kyrgyzstan and Tajikistan as well) to China that have been developed over the past five years [csis.org]

» May 28 2015 - #NaturalGas, #WorldGasConference #Geopolitics [by gastoday.com.au] The global gas industry is facing unprecedented challenges because of current global oil price volatility. Supply and demand challenges, technological innovations and the role of gas in an affordable and secure transition to a lower carbon economy also rank high on the agenda. The upcoming 26th World Gas Conference (WGC) in Paris will look at the future plans of global gas companies and governments, where future work flow is going to come from and what to expect at this time of industry turmoil [...] Dr Daniel Yergin and Marcel Kramer will present a session titled Energy Industry in Turmoil, in which they will discuss the huge challenges the energy industry is facing due to sudden changes in the market, unclear energy policies and changing subsidisation for the development of renewables; and, French Minister of Foreign Affairs Laurent Fabius will set the scene for the upcoming Conference of Parties (COP) 21 which will result in an international energy agreement to limit global warming, in a special session titled Natural Gas and COP21 [gastoday.com.au]

» May 27 2015 - #EnergyUnion, #2016Budget, #EU [by paneuropeannetworks.com] European Commission proposes 2016 EU budget. Europe: The European Commission has proposed a 2016 EU budget of €143.5bn in payment credits designed to support the recovery of the European economy and help improve lives in Europe. According to the Commission, the money will be invested to boost innovation, support job creation, help convergence amongst member states and among regions, deal more effectively with migration and further strengthen the role of the EU in the wider world. Close to half the budget will be used to stimulate growth, employment and competitiveness, with €66.58bn allocated. For the political priorities being pushed by Brussels, such as the Energy Union proposal,€1.67bn will be provided. Erasmus+, the EU training and education programme, will receive €1.8bn. A total of €42.86bn will be allocated to farmers [paneuropeannetworks.com]

» May 27 2015 - #ClimateChange, #AdaptationActions, #UnfcccNegotiations, #OecdIeaReport [by oecd.org] A new report on "The Role of the 2015 Agreement in Enhancing Adaptation to Climate Change" from the OECD/IEA Climate Change Expert Group. Adaptation responses are needed to address the existing levels of climate variability and to prepare for future climate impacts. There is wide agreement that adaptation is an important issue and would benefit from being enhanced through more effective action and better planning. The prominence of adaptation in the UNFCCC negotiations has increased, in part as the scientific evidence has become clearer that climate change is occurring and its impacts are projected to grow in future. Efforts to enhance adaptation actions and increase resilience are thus expected to play a key role in the post-2020 climate agreement to be agreed at COP21 in December 2015. This paper explores how the 2015 agreement can help to foster enhanced policies and co-ordinate planning for greater resilience and adaptation capabilities at the national level. The paper considers the technical advantages and disadvantages of selected adaptation-related concepts that have been put forward in the negotiations. These include proposals for global or national goals; developing or improving adaptation institutions or planning; enhancing information availability; and facilitating or enhancing adaptation finance. Many of these proposals have the potential to improve sub-national, national and international planning about and responses to climate adaptation. However, the actual impact of these proposals is likely to vary significantly depending on how they are implemented on the ground [oecd.org]

» May 27 2015 - #FossilFuels, #CarbonCaptureAndStorage, #CCS, #Webinar, #EnergyChat [by TheEnergyCollective] "Fossil Fuels Without the CO2: Can Carbon Capture and Storage Deliver?". A live, exclusive webinar from The Energy Collective. May 27th, 2015 12:00pm ET/9:00am PT. Carbon capture and storage technology promises to deliver fossil energy without the CO2. Able to capture and permanently sequester carbon emissions from power plants, oil field operations, or other concentrated sources of CO2, the technology may be a critical tool in efforts to build a lower-carbon energy system. With several large-scale demonstration projects now under construction or operational in the United States, Canada, Europe, and China, we'll discuss the promise and potential of carbon capture technology, what it will take to bring down the cost of these technologies, and take a close look at some of the large-scale demonstrations now underway [The Energy Collective, gotowebinar]

» May 27 2015 - #RenewableEnergy, #SaudiArabia #Geopolitics [by abo.net] Saudi Arabian Oil Minister Ali al-Naimi said that he sees a great future for solar power, but that the world can't abandon fossil fuels in the short term. Mr. Naimi, speaking during a panel at the Business and Climate Summit in Paris, addressed questions about whether the world's oil-and-gas companies should move on to other forms of energy to face the climate change linked to human carbon emissions. He said it wouldn't make economic sense to make a dramatic move now: "you say decarbonize. Are you willing to have me go back home and shut all the oil wells? Can you afford that today? What will happen to the oil price if today I remove 10 million barrels per day of the market" [abo.net]

» May 26 2015 - #NaturalGas, #Turkey, #EU, #Tanap, #Tap, #Azerbaijan, #Turkmenistan, #Iran #Geopolitics [by naturalgaseurope.com] What countries will be able to use Turkey as a bridge to bring Caspian and Middle-Eastern gas to Europe? [...] "If there is one certainty about the Southern Gas Corridor, this is Azerbaijan," [...] Given the country's current track record-it already delivers gas to Turkey through the South Caucasus Pipeline and is set to send gas from its Shah Deniz field to Turkey by 2018 and to Europe by 2019-there is no doubt [....] as to the viability of Azerbaijan's future through Turkey. "The construction of the Trans Anatolian Pipeline, which will connect the South Caucasus Pipeline to the Turkish-Greek border is already initiated," [...] "The construction of the Trans Adriatic Pipeline, bringing gas to the Italian market, will follow." In addition to those infrastructure projects, gas sales agreements have already been signed between Italy, Greece, and Bulgaria. "For these reasons, we can consider secure the prospect of 10 billion cubic metres of gas a year from Azerbaijan by 2019 to the European market." The prospects for using Turkey as a bridge for other countries is not so certain, however. Turkmenistan, for example, despite purportedly having large gas reserves, could also potentially use Turkey to route its gas to Europe-but it depends on a number of factors [naturalgaseurope.com]

» May 26 2015 - #NaturalGas, #StorageMarket, #EU, #CeerPaper [by ceer.eu] CEER Final Vision for Regulatory Arrangements for the Gas Storage Market. This paper sets out CEER's final Vision on Regulatory Arrangements for the Gas Storage Market. It outlines key elements to help achieve a competitive, sustainable framework for gas storage in Europe. It also describes the current conditions of the gas storage market and presents regulatory principles, identified by CEER, to improve the functioning of the gas storage market. This paper incorporates the findings of the CEER Public Consultation on the draft CEER Vision on Regulatory Arrangements for the Gas Storage Market launched in 2014 and provides a set of regulatory and policy options to ensure that gas storage can compete in a flexibility market, where present [ceer.eu]

» May 26 2015 - #ClimatePolicy, #EmissionsScenarios, #NetherlandsEnvironmentalAssessmentAgencyReport, #Geopolitics [by pbl.nl] Enhanced policy scenarios for major emitting countries. This study provides an overview of projected greenhouse gas emissions of 13 major emitting countries up to 2030, taking into account the emission trajectories based on current and planned policies, and selected enhanced mitigation measures that are in line with national priorities. Some countries are likely to achieve their 2020 pledges through current policies, while others require the effective implementation of planned policies or additional measures [pbl.nl]

» May 25 2015 - #LowOil, #OilPrice, #OilSubsidies #Finance, #Geopolitics [by abo.net] The consequences of the consequences of low oil prices. Lower prices had a direct impact on exporting countries such as Russia and Venezuela. These impacts produced their own "second order" effects that are only just being felt. Many of these effects will be negative, but some will have positive results, as governments take the opportunity to initiate reforms [...] Seizing the moment to cut oil subsidies [...] Low oil and high finance [...] The geopolitical repercussions [abo.net]

» May 25 2015 - #OilMarkets, #OilPrice, #GoldmanSachsForecasts [by oilprice.com] Some market watchers, such as Cornerstone Analytics (CA), have consistently stated that the underestimation of demand, coupled with over-estimation of supply, will mask the growing call on OPEC oil in the second half of this year. CA recently noted that global demand outstripped supply by some 4 million barrels in April. This comes in addition to the mounting evidence that the oil market, via rig count declines, slowing production growth, higher demand and huge API crude inventory declines, is starting to readjust. Be that as it may, Goldman Sachs (GS) seems to believe oil must fall to $45 by October (like it previously thought $30 oil was a certainty) to clear the market and rebalance, despite signs that a readjustment is already underway. When was the last time fundaments got ignored and prices went in opposite direction? As an aside, take a look at the S&P 500 vs. GDP growth, as one makes new highs while the other falls from 3.0 percent growth to under 1 percent so far this year! In other words, asset prices continue to be set by central bankers, and not free markets, so the GS call does make sense if you believe fundamentals don't matter at all [oilprice.com]

» May 25 2015 - #EnvironmentalDemocracy, #CountriesIndex, #Geopolitics [by environmentaldemocracyindex.org] Environmental Democracy Index. Environmental democracy is rooted in the idea that meaningful public participation is critical to ensure that land and natural resource decisions adequately and equitably address citizens’ interests. At its core, environmental democracy involves three mutually reinforcing rights: the right to freely access information on environmental quality and problems; the right to participate meaningfully in decision-making; the right to seek enforcement of environmental laws or compensation for harm. Protecting these rights, especially for the most marginalized and vulnerable, is the first step to promoting equity and fairness in sustainable development. Without essential rights, information exchange between governments and the public is stifled and decisions that harm communities and the environment cannot be challenged or remedied. Establishing a strong legal foundation is the starting point for recognizing, protecting and enforcing environmental democracy. The international community first recognized these rights as part of Principle 10 of the 1992 Rio Declaration on Environment and Development, which 178 governments signed. The legally binding Aarhus Convention, established by the UN Economic Commission for Europe (UNECE) in 1998, now has 47 ratifying parties (46 countries and the European Union). The Aarhus Convention defines minimum standards and obligates parties to the convention to implement these rights. It also creates a compliance mechanism that is accessible to citizens from the countries that are parties to the convention [environmentaldemocracyindex.org]

» May 22 2015 - #NaturalGas, #US, #Geopolitics [by eia.gov] U.S. net imports of natural gas decreased 9% in 2014, continuing an eight-year decline. As U.S. dry natural gas production has reached record highs, lower domestic prices have helped to displace natural gas imports. Net natural gas imports (imports minus exports) totaled 1,171 billion cubic feet (Bcf) in 2014, the lowest level since 1987. Imports by pipeline from Canada account for nearly 98% of all U.S. natural gas imports, and were the main driver of the decrease in total imports. Net imports from Canada represented 7% of total U.S. natural gas consumption in 2014, down from 11% in 2009. U.S. natural gas exports also decreased in 2014, but at a slower rate than the decrease in imports, and were still 9% above the previous five-year average. Natural gas exports to Mexico, which account for nearly 50% of U.S. natural gas exports, increased 12% in 2014. Net imports of liquefied natural gas (LNG) in 2014 totaled 43 Bcf, down 54% from the level in 2013 and continuing a five-year decline. LNG exports increased from 2013 levels, but not enough to offset a nearly 40% decrease in total LNG imports in 2014 [...] Inflows of natural gas from Canada were equivalent to 50%-80% of New York's natural gas consumption as late as 2008. In 2014, however, outflows of U.S.-produced natural gas through pipelines that crossed into Canada through New York state exceeded inflows of Canadian gas through pipelines into that state, as increased production from the Marcellus region outpaced regional demand [...] Natural gas exports to Mexico through pipelines crossing the international border in Texas, California, and Arizona increased to a record 706 Bcf in 2014 to meet increasing demand from new natural gas-fueled power plants in Mexico. Higher production of natural gas from the U.S. Gulf Coast and the Eagle Ford Shale in southern Texas contributed to the increase in exports to Mexico [eia.gov]

» May 22 2015 - #ClimateChange, #CO2Emissions, #INDCs, #ParisConference, #UNFCCC, #FactorCO2Report [by factorco2.com] Factor CO2, the first issue of the publication "INDC UPDATE", which includes a comparative analysis of the Intended Nationally Determined Contributions (INDCs) sent to the United Nations Framework Convention on Change Climate Change (UNFCCC) to date. In the run-up to the Paris Conference, Factor CO2 will assess the post-2020 pledges made by Parties by comparing them to their 1990 levels. This simple exercise will allow a straightforward comparability of the GHG emission reduction targets published by Parties. The information will be updated every month; starting on May 2015 (issue no. 1) and ending on October 2015 (issue no. 6). The analysis of the first 10 INDCs shows that, even though all countries indicate that in 2030 they will reduce emissions by a certain percentage, two of them (Mexico and Andorra) will actually increase them by that year. In addition, it notes that the US commitment is significantly reduced once calculated in relation to 1990 emissions, turning out to be 14.85% (vs. 26% -28% announced in its contribution). Likewise, Canada's reduction compared to 1990 will be of 14.47% (compared with 30% stated in the INDC) [factorco2.com]

» May 21 2015 - #NaturalGas, #Pipelines, #SouthStream, #TANAP, #TurkishStream, #Russia, #EU, #Russia, #Geopolitics [by oilprice.com] U.S. And Moscow Ramp Up Pressure On Greece Over Gas Pipelines Russian Foreign Minister Sergei Lavrov says Europe's only realistic choice for importing gas is through Moscow's planned Turkish Stream pipeline, not a rival conduit, also through Turkey, that's being promoted by the West. Lavrov pushed back against U.S. pressure on Greece to choose the American-preferred route, the Trans-Anatolian Pipeline (TANAP) [...] If built, the Turkish Stream pipeline would begin shipping some 63 billion cubic meters of gas annually by December 2016, which Lavrov said would bring "energy security" to Europe. TANAP would bring gas from Azerbaijan - and perhaps even from Turkmenistan on the other side of the Caspian Sea - through Turkey and into Europe [...] Lavrov's comments come after a trip by Amos Hochstein, the US State Department's special envoy on energy affairs, who was sent to Athens to discuss the options with several Greek officials. Moscow is attempting to sway Greece in favor of its Turkish Stream project. On May 8 Hochstein reported that both sides "agreed on more than we disagreed," especially given that work on TANAP already has begun and Turkish Stream remains only a concept in search of a route [...] Turkish Stream would replace the South Stream pipeline project to Europe, which was ended in late 2014 because of a European Union rule that forbids one entity to own both the pipeline and the gas it carries. That project as well as Turkish Stream and TANAP are potential alternatives to Russia's current method of shipping fuel from its state-run Gazprom to European customers [oilprice.com]

» May 21 2015 - #OilDemand, #OilProduction, #OilShortfall [by energyvoice.com] Growing global oil demand will create a daily shortfall equating to about 80 times the size of current North Sea output without more investment in production, Royal Dutch Shell boss Ben van Beurden has said. The gap between supply and demand could grow to 70million barrels per day by 2040, he said, adding: "That's the equivalent of six times Saudi Arabia's 2013 production and 80 times the size of today's UK North Sea production." [energyvoice.com]

» May 21 2015 - #NaturalGas, #SpotMarkets, #DerivativesMarkets, #ThomsonReutersWebinar [by thomsonreuters] LNG in 2015: Changing market dynamics. Thursday 28th May, 2015, 9:00 am (London), 10:00 am (Geneva, Frankfurt), 4:00 pm (Singapore). Northeast Asian spot LNG prices are now trading between $7- 7.5/MMBtu after falling significantly from an average of $13/MMBtu during April and May last year. The premium of Asian spot LNG to UK NBP gas prices has narrowed to pre-Fukushima levels. Disappointing demand growth and increasing supply in Asia Pacific have put the spot prices under significant downward pressure, leading to more LNG flows to the Atlantic [thomsonreuters]

» May 20 2015 - #RenewableEnergy, #Jobs, #IrenaReport [by irena.org] Renewable Energy and Jobs - Annual Review 2015 presents the status of renewable energy employment, both by technology and in selected countries, over the past year. In this second edition, Irena estimates that renewable energy employed 7.7 million people, directly or indirectly, around the world in 2014 (excluding large hydropower). This is an 18% increase from the number reported the previous year. In addition, Irena conducted the first-ever global estimate of large hydropower employment, showing approximately 1.5 million direct jobs in the sector. The 10 countries with the largest renewable energy employment were China, Brazil, the United States, India, Germany, Indonesia, Japan, France, Bangladesh and Colombia. The solar PV industry is the largest renewable energy employer worldwide with 2.5 million jobs, followed by liquid biofuels with 1.8 million jobs, and wind power, which surpassed 1 million jobs for the first time. The employment increase extends across the renewable energy spectrum with solar, wind, biofuels, biomass, biogas and small hydropower all seeing increases in employment [irena.org]

» May 20 2015 - #NaturalGas, #SpotMarkets, #DerivativesMarkets, #EU, #Powernext [by powernext.com] PEGAS, the pan-European gas trading platform operated by Powernext, announced that a total volume of 77.0 TWh was traded in April 2015. This represents an increase of 81 percent compared to 42.5 TWh traded in April 2014 [...] Spot Markets. Overall trading volumes on the Spot Markets amounted to a record of 46.5 TWh in April (April 2014: 18.8 TWh) which is an increase of 13 percent compared to the previous record of 41.2 TWh set in March 2015 [...] Derivatives Markets. In April, trading volumes on the PEGAS Derivatives Markets reached 30.5 TWh which represents an increase of 29 percent compared to April 2014 (23.7 TWh) [powernext.com]

» May 20 2015 - #ElectricityMarket, #FeedInTariff, #LowCarbonTechnologies, #EnergyBrief [by insightenergy.org] Electricity market design options for promoting low carbon technologies. The increasing share of electricity production from renewables is achieved by political promotion strategies like feed-in tariffs, which foresee payments for renewables outside of the electricity market. Assuming a phase out of the existing promotion strategies, the question arises if other or additional market design options for promoting low carbon technologies are necessary. In this paper, we have made an assessment based on the literature to identify possible market designs that are focusing on the promotion of low carbon technologies. The discussed options for altering the current market design range from providing greater certainty for future carbon prices, over capacity mechanisms for conventional as well as for renewable energy to a complete restructuring of the market design. The study shows that there seems to be three main tendencies to promote low carbon technologies, namely existing EOM with market add-ons for low carbon technologies, a separate market for low carbon technologies or an overall single market based on levelized costs [insightenergy.org]

» May 20 2015 - #ClimateFinance, #LowCarbonEconomy, #InvestorPlatform, #ClimateChange, #Webinar [by investorsonclimatechange.org] Global investor groups, new Investor Platform for Climate Actions. The Investor Platform for Climate Actions covers three primary action areas: Measurement (e.g. carbon footprinting of portfolios); Engagement (e.g. with fossil fuel and energy intensive companies); Reallocation (including investment in low carbon assets and shifting capital from emissions intensive activities). By showcasing the broad range of climate actions being undertaken by the investor community globally, investors are determined to encourage further initiatives and help drive momentum for an ambitious global climate deal in Paris in December. Actions taken by investors will be central to tackling climate change and moving the world to a low carbon economy. This platform provides a single location for investors as well as the wider stakeholder community to identify how investors are helping accelerate the shift to a low carbon economy. The launch of the platform follows the call last September to world leaders by more than 360 investors managing over $24 trillion in assets for a strong global climate deal. The Investor Platform for Climate Actions is a joint project of IIGCC in Europe, Ceres' Investor Network on Climate Risk (INCR) in North America, IGCC in Australia/New Zealand, ASrIA's Asia Investor Group on Climate Change (AIGCC), PRI, CDP and UNEP FI. The regional climate investors groups will be hosting a webinar with Responsible Investor on June 10th at 3pm BST / 10am EDT for investors to learn more about the strategies and solutions available for protecting portfolios against climate change and contributing to the low carbon economy. The webinar will use the recently published Climate Change Investment Solutions: A Guide for Asset Owners as the basis for discussion and learnings. To register for the webinar please email MPauliukova@IIGCC.org [investorsonclimatechange.org]

» May 19 2015 - #Oil, #Opec, #OilMajors, #ShaleOil [by economist.com] After OPEC. BIG companies making big bets on big oilfields, while a cartel of oil-producing states fixed the price to keep itself rich and others, including the oil majors, profitable. That, in caricature, was how the oil industry once ran. That model now seems broken. On May 13th the International Energy Agency, representing the main oil-consuming countries, said a global oil glut was building, as Saudi Arabia pumped oil frantically in a continuing battle for market share with American shale-oil producers. The shale firms have proved a lot more resilient, and a lot more productive, than the Saudis and other members of OPEC, the producers' cartel, had expected [economist.com]

» May 19 2015 - #ClimateChange, #CorporateAdaptationReport, #NotreDamUniversity [by nd.edu] In partnership with Four Twenty Seven and with support from Business for Social Responsibility, ND-GAIN just released the 2015 Corporate Adaptation Report. The report offers insights into whether and how enterprises are preparing for the physical impacts of climate change [gain.org]

» May 18 2015 - #NaturalGas, #GasPrice, #US, #Geopolitics [by linkedin.com-pulse] Fundamentals unsupportive of Henry Hub futures [...] The persistent growth in gas production from the shale plays together with strongly improving storage levels in the US will be sufficient to meet gas demand in the country during the current injection season. The US will also be well equipped storage wise for the 2015-2016 gas-withdrawal season. This will be a major drag on Henry Hub futures in the coming months, and will cap gains in the price [linkedin.com]

» May 18 2015 - #Oil, #OilPrice, #OilProduction, #SaudiArabia, #US, #Russia, #Geopolitics [by energyandcarbon.com] Why the new norm is $60 oil [...] investors are very bullish on the oil price. This positive view can also be seen on the equity markets. March was a record month for equity offerings ($3.8bn) by U.S. oil and gas exploration and production companies. In addition, the recent $70bn attempt by Shell to acquire BG Group has helped bolster share prices as investors anticipate heightened oil and gas M&A. The big question is whether investors are right to be so positive about future oil price developments? If the past was anything to go by, investors are right to do so. Time and again investors have made the most money by buying the "oil troughs". However, there are many reasons to doubt history and to say that "this time it is different." The first reason for is Saudi Arabia's refusal to reduce oil production. Their decision led to the initial sharp drop in oil price nine months ago as this decision took the market by shock, as everyone had assumed that they would always act as "central banker" to the oil world. There have been lots of theories that the Saudi decision is politically motivated but the reality is that it is about economics and long term positioning on the global oil market. And things have changed. For the last 20 years, Saudi has produced somewhere between 9m and 11.5m barrels of oil every day and it is moved its production up and down over that period in an effort to keep price stability. Over that period from 1994 to last year, Russia has nearly doubled its oil production steadily from 6.3m barrels to circa 11m barrels last year. Meanwhile the US has gone from 8.3m barrels in 1994 to 11.4m barrels in 2014. The result of the big production increases in both the US and Russia is that we now have three global players each of which are more or less are the same size and which together produce close to 40% of global oil production. This is a new paradigm for global oil and will take a while for these suppliers to find a happy equilibrium together [energyandcarbon.com]

» May 15 2015 - #ClimateCrisis, #MediterraneanClimate, #LivingCondition, #WaterResources, #ClimateProjections, #ScientificReport [by nature.com] The warm-temperate regions of the globe characterized by dry summers and wet winters (Mediterranean climate; MED) are especially vulnerable to climate change. The potential impact on water resources, ecosystems and human livelihood requires a detailed picture of the future changes in this unique climate zone. Here we apply a probabilistic approach to quantitatively address how and why the geographic distribution of MED will change based on the latest-available climate projections for the 21st century. Our analysis provides, for the first time, a robust assessment of significant northward and eastward future expansions of MED over both the Euro-Mediterranean and western North America. Concurrently, we show a significant 21st century replacement of the equator-ward MED margins by the arid climate type. Moreover, future winters will become wetter and summers drier in both the old and newly established MED zones. Should these projections be realized, living conditions in some of the most densely populated regions in the world will be seriously jeopardized [nature.com]

» May 15 2015 - #ClimateCrisis, #EnergyPolicy, #RenewableEnergy, #Canada, #VAN100RE, #Vancouver [by bcsea.org] In March, motivated by the climate crisis, Vancouver City Council took the bold step of declaring that Vancouver would become a 100% Renewable Energy City, obtaining 100% of its energy from renewable sources, and asked its staff to get back to them by fall with a clear articulation of the date by when it might be feasible. The city's staff, in turn, are seeking the public's input, using the hashtag #VAN100RE. This is a great beginning-but what does it mean, and how soon might it be achieved? [...] Ideally, becoming a 100% renewable energy city should mean replacing all of the fossil-fuel energy that's used in Vancouver with renewable energy. In reality, it can't include the energy used to make the bicycles, iPads and yoga-mats that Vancouver depends on, since success here hinges on how fast countries like China and Vietnam can become zero-carbon, and whether 3-D printing using bioplastics will transform manufacturing [bcsea.org]

» May 15 2015 - #EnergyPolicy, #India, #Geopolitics [by nature.com] Rethink India's energy strategy. India's policy-makers have three big energy goals: providing everyone with access to energy, securing energy supply and trying to limit carbon emissions without encumbering the nation's growth. These important concerns miss the point. Energy access cannot be assured by progress towards a simple target such as supplying power 24 hours a day, 7 days a week, nationwide. India has deep divides in the quantity and quality of energy consumed across income groups and between rural and urban households. Fuel subsidies are poorly designed and the strategies to reduce them to enhance energy security are heavy-handed. And because of limited action by the world's largest emitters, there is little left in the global carbon budget before planetary safety limits are breached. Clean energy and alternative growth is imperative. India's energy priorities should be reframed as follows: to cater to the different energy demands of citizens of various economic strata; to direct energy subsidies to benefit the poor; and to promote low-carbon industry [nature.com]

» May 14 2015 - #EnergyPolicy, #G7Communique, #Geopolitics [by ec.europa.eu] G7 Energy Ministerial in Hamburg - G7 Hamburg Initiative for Sustainable Energy Security. I. Secure Energy Systems (Transparent, liquid and competitive gas markets; Electricity security and resilience). II. Support of Most Vulnerable Countries including Ukraine. III. Energy Efficiency. IV. Energy Resources and Innovative Energy Technologies [ec.europa.eu]

» May 14 2015 - #Gas, #LNG, #KoreaEconomy, #ThomsonReutersReport, #Geopolitics [by thomsonreuters.com] South Koreas economy is expected to improve this year after a period of weak economic growth. Nevertheless, we expect a slight drop in the country's total gas consumption and LNG imports as a result of increasing nuclear generation which lowers gas-for-power-generation demand [thomsonreuters.com]

» May 14 2015 - #Gas, #FLNG, #UpstreamCosts, #ThomsonReuters, #Geopolitics [by thomsonreuters.com] Liquified Natural Gas (LNG) production and shipping may change forever with the advent of floating LNG projects (FLNG)that allow natural gas to be extracted from the ocean floor at a fraction of the current cost. Many companies are now investing in FLNGs and it may be a few years before they see any profits. Meanwhile, the current situation for carriers is not so favorable as asking prices for transportation are falling [thomsonreuters.com]

» May 13 2015 - #Gas, #SouthStream, #Saipem, #Geopolitics [by saipem] Saipem announces that it has received notice that the client South Stream Transport BV is lifting the suspension of work under the contracts, and that Saipem should commence works on the offshore pipeline in the Black Sea [saipem.com]

» May 13 2015 - #EnergySecurity, #GasMarkets, #Gazprom, #EuropeanUnion, #Regulation, #Geopolitics, #EuiScientificPaper. [by European University Institute-Robert Schuman Centre for Advanced Studies, A.V. Belyi-A. Goldthau] Between a rock and a hard place: International market dynamics, domestic politics and Gazprom's strategy. Gazprom, Russian's prime state owned gas producer, is facing severe pressure stemming from international gas market dynamics, EU regulation and the Ukraine crisis. Slowing gas demand coupled with shifting pricing models and a persisting transit issue pose significant challenges for Gazprom's business going forward. Domestic pressure emerges from competition arising from private companies, mainly Notatek, but also state owned rival Rosneft, and is reinforced by governmental moves toward more market oriented Russian gas sector organization. Gazprom's options include pivoting to alternative markets, notably China; reverting to international legal bodies and market principles to counter EU regulatory pressures; and to depoliticize gas trade in order to generate long term expectations on its prime market - Europe. We pose that neither of these options is likely to fully solve Gazprom's dilemma, whose competitive position will arguably further weaken both domestically and internationally. We believe that Gazprom's best option would be to aim for depoliticizing gas trade, by way of giving up its de facto monopoly on gas exports to Europe [cadmus.eui.eu]

» May 13 2015 - #ZeroCarbonEconomy, #GHG, #ClimateChange, #WorldBankReport, #EnergyPolicy, #Geopolitics. [by worldbank.org] World Bank, Decarbonizing Development: Three Steps to a Zero-Carbon Future. The report lays out three steps countries can follow to reduce net emissions of greenhouse gases to zero and stabilize climate change: Plan for the end goal, not just the short-term; get prices right as part of a broad policy package that triggers changes in investment and behavior; and smooth the transition for those most affected. The Decarbonizing Development: Three Steps to a Zero Carbon Future report, released in advance of the Business and Climate Summit in Paris, says the actions necessary to make the transition to zero net emissions are affordable if governments start today, but it warns that the costs will grow if action is delayed [worldbank.org]

» May 12 2015 - #NaturalGas, #Russia, #China, #Europe, #Geopolitics, #CsisCommentary. [by csis] Russia-China Gas Deal and Redeal [...] Despite a series of handshakes and high-profile events, signs point to continued tensions in Russia-China energy ties. The friction stems from the difficult economics of these long-haul pipeline deals, but may also reflect the real state of bilateral relations, which are often characterized by both sides as "unprecedented" in degree [...] Russia has always preferred the western route from its existing Siberian gas fields through its Altai region to Xinjiang, which would be shorter and cheaper for Gazprom than the eastern line to China's northeast industrial region and coastal cities from undeveloped resources in East Siberia [...] As with the logjams over ESPO [East Siberia-Pacific Ocean oil pipeline following an initial accord in 2001], Russia spent years negotiating a starting price for gas deliveries to China, insisting on European-level netbacks from the new Asian market. Gazprom's goal was to send a message to Europe that it could sell its gas elsewhere if it continued to face regulatory and pricing pressures. In that context, Russia's preference for the Altai route has been a key factor, since it would tap Siberian fields that supply Europe. China's concerns about high prices and greater distances from Xinjiang were treated as secondary. Conditions have changed dramatically since last year when the contract for the eastern route was signed with an estimated value of $400 billion and a presumed starting price of $350 per thousand cubic meters (mcm). Russia's strategy of insisting on equal netbacks appears to have backfired, due in part to its attempts to isolate Ukraine. Last September, Russia limited gas supplies to European customers by restricting them to contract minimums in order to discourage "reverse flow" sales to Ukraine. But in early March, Gazprom abruptly abandoned the strategy after estimated costs of nearly $6 billion, due largely to lost revenue. European gas prices quickly dropped by some $100/mcm. The developments may leave China wondering why it should be stuck with a starting price of $350/mcm, when Gazprom is now selling gas to Ukraine at $247/mcm. Pressure for renegotiation seems likely to be another reason for withholding prepayments, particularly in light of concerns about commitments to the eastern line. A large cloud looms over the bilateral relationship as a result of Russia's repeated use of opportunities with China as a foil for competition with other countries and markets. The Russian energy minister admitted after the most recent signing that "There is still no agreement on the commercial price" for the western route [csis.org]

» May 12 2015 - #EnergyTransition, #RenewableEnergy, #FossilFuel, #ClimateChange, #ResourceDepletion, #ScientificPaper. [by arXiv.org-Cornell University Library] A Net Energy-based Analysis for a Climate-constrained Sustainable Energy Transition. The transition from a fossil-based energy economy to one based on renewable energy is driven by the double challenge of climate change and resource depletion. Building a renewable energy infrastructure requires an upfront energy investment that subtracts from the net energy available to society. This investment is determined by the need to transition to renewable energy fast enough to stave off the worst consequences of climate change and, at the same time, maintain a sufficient net energy flow to sustain the world's economy and population. We show that a feasible transition pathway requires that the rate of investment in renewable energy should accelerate approximately by an order of magnitude if we are to stay within the range of IPCC recommendations [arXiv.org]

» May 11 2015 - #OilPriceDecline, #ChemicalIndustry, #McKinseyInsights. [by mckinsey.com] The oil-price decline since mid-2014 has been a major shock to the global chemical industry. Many producers were underprepared for both the magnitude and speed of the impact on their businesses. The changing nature of oil supply and demand is expected to exacerbate volatility and increase the likelihood of oil-price shocks. Chemical companies need to develop the organizational agility to prepare for impending shocks and take rapid action when they occur, to capture value and minimize threats [mckinsey.com]

» May 11 2015 - #NuclearProgram, #Egypt, #Russia, #China, #SouthKorea, #Geopolitics. [by thecairopost.com] Construction of Egypt's first nuclear plant will start in mid-2016 and last for five years, an Egyptian official said Tuesday. Russia, China and South Korea are competing to win a tender to build the first phase of the project [...] The first phase of the project will include building two nuclear-operated facilities to produce electricity with a capacity of 950 to 1,600 megawatts each. The project will be constructed in four phases [thecairopost.com]

» May 11 2015 - #EnergyPolicy, #EconomicGrowth, #EU. [by energypolicy] The economic growth enigma revisited: The EU-15 since the 1970s. Current macro-econometric models mostly incorporate just two factors of production, labour and capital (with a time-dependent multiplier representing technological change or total factor productivity). These models assume that energy is an intermediate product of some combination of human labour and capital. These models also assume that the supply of energy is driven by economic demand. We assume the contrary, i.e. that useful energy is a primary input, derived (mostly) from natural capital. This failure to capture the impact of primary resources (as useful energy) on economic growth leads to inappropriate formulation of economic growth theories. To understand that impact better we need explicit evidence of marginal products of capital, labour and useful energy or useful work. As applied to the explanation of the past half century of economic growth of the EU-15 countries, the new results demonstrate the use of non-parametric relationships between capital, labour and useful energy to explain economic growth. They also indicate that marginal products of capital, labour and useful energy are variable - the marginal product depends on the levels of capital stock, labour input and useful energy flows. The proposed semi-parametric production function suggests country-specific policy implications for the EU (and other countries) [sciencedirect.com]

» May 11 2015 - #EnergyStorage, #RenewableEnergy, #TeslaMotors. [by theglobeandmail.com] Tesla Motors Inc. [...] unveiled Tesla Energy - storage systems or batteries for homes, companies and utilities that will expand its business beyond electric vehicles and tap into a fast-growing area of the energy industry. Chief Executive Elon Musk said the company's goal was to "fundamentally change the way the world uses energy on an extreme scale." [...] In Tesla's view, such storage systems could become part of a fossil-fuel-free lifestyle in which people can have solar panels on their roof generating electricity to power their home and recharge their electric car batteries. The smallest battery [...] is housed in a six-inch-wide container that is meant to be hung inside a garage or on the outside wall of a house. At $3,500 (U.S.) for a 10kWh model, excluding inverter and installation prices, the Powerwall can be used for backup power or to store solar energy. Tesla's lead installation partner for the home battery will be SolarCity Corp. [theglobeandmail.com]

» May 08 2015 - #Coal, #NaturalGas, #GHG, #Methane, #IeaReport. [by iea-coal.org.uk] Coal is the most widely used primary energy source in power generation, with 36% share in 2014 of globally generated electricity. There is currently a trend of substituting coal with natural gas in some parts of the world. Natural gas combustion produces about half the greenhouse gases compared to coal. However, in recent years, several studies considered the implications of methane emissions on climate change in large scale switching from coal to gas for electricity generation. Methane (CH4) is a hydrocarbon and the primary component of natural gas. It is more potent than carbon dioxide (CO2) as a greenhouse gas (GHG), and therefore is a significant contributor to climate change, especially in the near term (10-20 years). The studies have found that methane emissions from gas exploration, extraction, transmission and distribution, unless controlled, could make the benefits of coal to gas substitution, questionable, especially so in the short term. This report reviews these publications and their findings [iea-coal.org.uk]

» May 08 2015 - #OilPrice, #InternationalCapitalCompetition. [by Carole Nakhle, worldreview.info] The bright side of low prices for oil and gas companies. Oil prices are a driver of change in the relationship between the two key players: host governments and companies. And oil price plays a big part in determining the bargaining power each party - host governments who are the owners of resources; and companies, the holders of capital and technology - has at the negotiating table. When the oil price is high, the government usually has the upper hand; but when the price moves in the opposite direction, the pendulum swings in favour of the companies. Even before the oil price started to weaken, some governments introduced drastic changes to improve their investment outlook. Such moves further toughen competition between countries for international capital. It is, however, a question of time before the pendulum swings again [worldreview.info]

» May 08 2015 - #OilProduction, #Qatar, #Offshore. [by pipelineme.com] Qatar's state-run oil and gas company, Qatar Petroleum (QP) has announced invitation for bids for its 300,000 barrel-per-day offshore Al-Shaheen field. The announcement comes as current field operator Maersk Oil Qatar will see its 25-year exploration and production sharing agreement (EPSA) with QP expire in mid-2017 [pipelineme.com]

» May 08 2015 - #CleanEnergyInvestment, #EnergyInvestment, #ClimateChange, #WorldEconomy, #Bnef, #Iea, #Geopolitics. [by Noah Deich, theenergycollective.com] In 2014, investors allocated $310B in capital to clean energy projects according to Bloomberg New Energy Finance, making up a significant portion of the $1.5T in total global investment in energy supply as estimated by the International Energy Association ("IEA"). What's more, the IEA predicts we will need over $40T in cumulative energy investment by 2035 to meet energy needs, suggesting that the amount of capital needed to be deployed annually for clean energy projects will have to increase by an order of magnitude over the coming decades to meet the dual goals of preventing climate change and powering the world's economy [theenergycollective.com]

» May 07 2015 - #NaturalGas, #Russia, #China, #GasPipelineAgreement, #Geopolitics. [by pipelinesinternational.com] Russia ratifies gas pipeline agreement with China [...] The agreement, originally signed in Moscow on 13 October 2014, aims to develop Russian-Chinese cooperation in the energy sector and outlines the main conditions for natural gas supplies from Russia to China, which includes a trans-border gas pipeline across the Amur (Heilongjiang) River between Blagoveshchensk (Russia) and Heihe (China). The agreement's conclusion is an essential condition for the contract signed between Gazprom and China National Petroleum Corporation on 21 May 2014, on the purchase and sale of natural gas and its delivery via the 'Eastern' route, to come into force. The agreement is valid for 40 years. Once its term ends, it is automatically extended for subsequent five-year periods if neither party has sent written notification of intent to terminate the agreement to the other party within the set deadline [pipelinesinternational.com]

» May 07 2015 - #GreenhouseGasNeutralPolicy, #LowCarbonEnergy, #LowCarbonEconomy, #EnergyPolicy, #Germany. [by umweltbundesamt.de] The German Federal Environmental Agency has recently completed a study that looks at the possibility of a greenhouse gas-neutral Germany in 2050. In order to prevent serious disruption to the climate system and its uncontrollable consequences, industrial countries must reduce their GHG emissions by approximately 80-95% compared to 1990. Our study shows that a virtually GHG-neutral Germany with annual per capita emissions of around one tonne of CO2eq by 2050 is technically achievable. In our scenario analysis, we assume that Germany in 2050 is still an exporting industrial nation whose consumption and behaviour patterns are similar to today's. Our study looks at all GHG emission sources in Germany, including the following sectors: energy (including transport), agriculture, industrial processes and LULUCF. For sustainability reasons, it is based on the following premises: No use of fossil or nuclear energy carriers; No cultivation of biomass crops for energy purposes; No CCS. The study is not a prediction of future developments and does not outline transformation pathways, but describes one of many possibilities of achieving a GHG-neutral Germany. Essential steps towards GHG neutrality in Germany are closely entwined with developments within the EU and depend on a European policy that, at the very least, sets ambitious GHG reduction targets for the entire union and supports national policies to achieve GHG-neutrality [umweltbundesamt.de]

» May 07 2015 - #LowCarbonEnergy, #RenewableEnergy, #ClimateResilientEnergySector, #EnergyPolicy. [by en.openei.org] The first version of the Energy Toolkit, a collection of leading instruments and methodologies for low-emission, climate-resilient development planning in the energy sector, is now available. The goal is to offer energy practitioners, policymakers, and experts a quick reference guide for well-established low-emissions development strategies planning tools that are available at no or low cost [en.openei.org]

» May 06 2015 - #Oil, #Gas, #Offshore, #Capex, #PerformanceForumReport. [by analysis.upstreamintel.com] Offshore project management costs soar 20% in two years. Globally, the cost of project management as a share of total capex has risen from 9% in 2013 to 11% in 2015, for a project with capex of $3 billion, the report said. The cost of project management represents as much as 20% to 30% of total costs for almost a fifth of projects currently being developed. The survey analyzed 150 projects undertaken by 20 operators, and found the rise in project management costs varied according to the type of project and location. Projects involving floating platforms such as Floating Production, Storage and Offloading units (FPSOs) and tension leg platforms (TLPs) were more expensive than subsea operations. The costs were generally highest for Gulf of Mexico projects, followed by African and Asian projects. North Sea projects represented the lowest-cost. The size of the company was a major factor, with large integrated firms spending three percentage points more than their smaller rivals on project management [analysis.upstreamintel.com]

» May 06 2015 - #EnergyRenewable, #CarbonBubble, #CCS, #ClimateChange, #CoalPower, #ElectricityMarket, #EnergySecurity, #NaturalGas, #NuclearEnergy, #Oil. [by energypost.eu] IEA: Clean energy progress falls well short of what is needed. It is "realistic and economically sensible to pursue a clean energy agenda", states the International Energy Agency (IEA) in a new edition of its annual Energy Technology Perspectives. But, it adds: "clean energy progress is failling well short of the levels needed to limit the global increase to no more than 2 degrees Celsius". Governments must do much more to stimulate the uptake of clean energy and energy efficiency technologies [energypost.eu]

» May 05 2015 - #ClimateChange, #Geoengineering. [by Bulletin of the Atomic Scientists] Rutgers University climatologist Alan Robock talks with the Bulletin of the Atomic Scientists about geoengineering and nuclear winter. He says that geoengineering is not the solution to global warming because of its many risks and unknowns. He notes that some of the technology that would be required to implement geoengineering has not been developed and that many socio-political questions would have to be resolved before it could be put into practice - questions such as who decides what the global temperature should be? The world would have to reach agreement on a target temperature and on what entity should do the implementing. Robock's biggest fear with regard to geoengineering is that disputes over these questions could escalate into nuclear war which in turn could cause nuclear winter, producing global famine among other effects [Bulletin of the Atomic Scientists]

» May 05 2015 - #WindPower, #Germany, #EOn. [by eon.com] Two E.ON offshore wind farms are gradually coming online, further increasing the economic significance of the company's renewables business. Humber Gateway began exporting power to the U.K. grid at the end of February. Now Amrumbank West, which is located in the German North Sea, has also started producing power. The power from the first of its 3.6 megawatt turbines flows to an offshore transformer and converter platform from which it is exported via a 85-kilometer subsea cable, which comes ashore near Busum, about 100 kilometers northwest of Hamburg. The installation of turbines is moving forward. Humber Gateway will be completed this summer, Amrumbank West this fall. The two farms will have an aggregate capacity of more than 500 megawatts [eon.com]

» May 05 2015 - #NaturalGas, #Turkey, #Russia, #TurkishStream, #Geopolitics. [by naturalgaseurope.com] The reality behind Russia's Turkish stream. Last December Moscow took Europe by surprise with an announcement that South Stream, a 63 billion cubic metre (bcm) pipeline designed to bring Russian natural gas to southern Europe across the Black Sea would be scrapped and replaced with a pipeline of similar capacity that would cross Turkey and stop at its border with Greece. Some energy analysts hailed the new project - Turkish Stream - as a geopolitical asset for Turkey, allowing it not only to source more natural gas at a time when its energy consumption is growing, but also to secure a position of influence in the region, as it would become a key transit route. Others suggested that Turkey's partnership in the project that will bring 15.75bcm/year to its domestic market and earmark the remaining 47bcm for European customers would give Ankara a leverage position in its negotiations with Russia. The reality behind this project disproves the solidity of these arguments and raises serious questions with regards to Turkey's energy security and that of the surrounding region [naturalgaseurope.com]

» May 04 2015 - #Oil, #Russia, #OilPrices, #GlobalDataReport, #Geopolitics. [by energy.globaldata.com] Russia's oil production will continue to grow despite low oil prices. Oil production surge outside OPEC is deemed one of the driving factors behind the recent decline in global crude prices. The behavior of main crude suppliers in the near term will determine if the global supply will equilibrate with the demand for oil; however, suppliers differ in their ability to respond to price changes and in their longer-term intentions for securing market share. Russia, the world's leading energy producer, has been steadily increasing its crude output. Since the factors behind the past production increase are expected to remain in place, Russian crude output is likely to continue at current levels in the near term [energy.globaldata.com]

» May 04 2015 - #RenewableEnergy, #SolarEnergy, #US. [by solarthermalmagazine.com] SolarCity has activated a fund including an investment from Credit Suisse that is expected to finance more than $1 billion in commercial solar energy systems-including battery storage systems-for businesses, schools and government organizations across the U.S. SolarCity and Credit Suisse finalized the deal in February and began funding the first projects in late March. The fund-believed to be the largest of its kind-is expected to finance more than 300 megawatts of new commercial solar projects over the next two years. It is the latest in a series of collaborations between SolarCity and Credit Suisse-the financial services leader has previously acted as structuring agent and bookrunner for SolarCity's industry-first securitization transactions, and also as structuring agent and administrative agent for the facility to finance the purchase of solar energy systems through SolarCity's new MyPower loan program [solarthermalmagazine.com]

» May 04 2015 - #Coal, #ClimateChange, #UNFCCC. [by theguardian.com] The UN climate chief, Christiana Figueres, has said there was "no space" for new coal developments and stressed the benefits of ambitious renewable energy targets after a meeting with representatives from seven Australian governments. At the meeting in Adelaide, organised by the South Australian government, federal, state and territory administrations agreed to work more closely to drive an uptake in renewable energy, coordinate energy-efficiency schemes and help communities adapt to climate change. Figueres, the executive secretary of the United Nations framework convention on climate change, urged the states and territories to work with the federal government to help deliver a "strong" global agreement at key climate talks in Paris in December [theguardian.com]

» May 02 2015 - #GeothermalEnergy, #EnhancedGeothermalSystems, #US. [by energy.gov] EGS are man-made reservoirs created by drilling wells thousands of feet below the earth to access hot rock at the earth's crust. Highly pressurized cold water is pumped through the wells to cause pre-existing fractures of the hot rock to open up, increasing permeability. This enables the water to flow through the cracked rock and pick up heat. The resulting hot water pumps back to the surface where it is depressurized to make steam, which spins a turbine to generate electricity. The water is then cooled and pumped through the wells again, repeating the same process and creating a closed-loop system [...] The Energy Department supports research and development at five active EGS demonstration projects in Nevada, Idaho, Oregon and California. The U.S. Geological Survey estimates that EGS could provide 100 gigawatts of geothermal resource capacity in the United States - enough to power about 100 million homes. EGS provides power around the clock and emits little to no greenhouse gases. The technology also allows for geothermal development outside of the western United States, where most hydrothermal resources are located. The Energy Department's future Frontier Observatory for Research in Geothermal Energy, called FORGE, will be the first-of-its-kind field laboratory that will enable scientists and researchers to develop, test and accelerate breakthroughs in EGS technologies. When it is fully implemented in 2020, FORGE will also allow researchers to collect and disseminate data in real time and identify low-risk, replicable pathways to commercial EGS development [energy.gov]

» April 30 2015 - #NaturalGas, #Tap, #ShahDeniz, #SouthernGasCorridor, #EU. [by tap-ag.com] The regulatory authorities in TAP's host countries - Greece, Italy and Albania - have released a joint opinion, prolonging the validity period of TAP's exemption from certain provisions of the EU Gas Directive. TAP's exemption has been updated in line with the planned commencement date of Shah Deniz Phase 2 gas exports to Europe, now expected in 2020. This enables TAP to be fully aligned with upstream developments in the Southern Gas Corridor value chain. The updated joint opinion follows the approval of the European Commission as well as a positive opinion by the Energy Community Secretariat. The joint opinion has been implemented in TAP's host countries via national decisions [tap-ag.com]

» April 30 2015 - #ClimateChange, #OceanWarming, #OceanAcidification, #OceanDeoxygenation, #SeaLevelRise, #IDDRIReport. [by iddri.org] The Oceans 2015 Initiative, Part I An updated synthesis of the observed and projected impacts of climate change on physical and biological processes in the oceans. The oceans have absorbed approximately 93% of the excess heat caused by global warming. Warming increases stratification, limiting the circulation of nutrients from deep waters to the surface. There is evidence that enhanced stratification and increasing temperature are causing a decline in dissolved oxygen concentration and expanding existing oxygen minimum zones (OMZs). Approximately 26% of anthropogenic CO2 is absorbed by the oceans, resulting in a reduction in pH and carbonate ion concentration, termed ocean acidification. Anthropogenic CO2 has caused global ocean pH to decrease by 0.1 units since the start of the Industrial Revolution [iddri.org]

» April 30 2015 - #GreenEconomy, #TransitionFinancing, #ClimateChange, #LowCarbonEconomy, #G7. [by g7g20] Financing the transition to a green global economy. Investment in clean energy has risen substantially over recent years, but we are still not safe from the 2C threshold for climate change. The world needs greater access to climate finance, explains Christiana Figueres, Executive Secretary, United Nations Framework Convention on Climate Change. Financing a transition to a low-carbon world - one that can keep a global temperature rise under 2C this century - requires the determined and timely deployment of smart public policies able to unlock ever greener investment flows. The G7 summit hosted by Germany this year has two significant roles to play as countries prepare for the United Nations climate conference in Paris, France, and a new universal agreement. The first is helping to orchestrate the build-up to the $100 billion a year that the international community has agreed to provide developing countries as support towards their climate-friendly development ambitions. The second is to contribute to the global framework that will green capital at levels high enough to transform the economy, estimated by many at an annual $1 trillion over the next 10 to 15 years [g7g20.com]

» April 29 2015 - #Oil, #SaudiArabia, #China. [by AbO] Saudi Arabia ready to supply more crude oil to China. Oil Minister Al-Naimi, during his trip to China, said that in addition to oil exports to the country, the collaboration between the two countries also concerns the services sector and research [abo.net]

» April 29 2015 - #ClimateFinance, #NordicReport. [by norden.diva-portal.org/] Nordic Climate Finance Opportunities: The NCF Case Study. The goal of reaching an ambitious globally binding climate agreement by 2015 is one of the key challenges that the international community needs to address. Issues on how private finance can be linked to public funding structures to ensure sufficient funding for mitigation and adaptation activities, and how technology transfer could work as part of climate finance continue to be key topics in the upcoming climate negotiations.This report focuses on the current Nordic climate finance landscape, and uses the Nordic Climate Facility (NCF) as a case study, to offer examples of and lessons learned from practical Nordic climate actions that can be used in on-going and future climate negotiations. The report concludes with eight targeted recommendations that highlight key points and lessons learned that can be used for replication and scaling up of future climate actions [norden.diva-portal.org/]

» April 28 2015 - #NaturalGas, #US, #EiaOutlook. [by eia.gov] In its recently released Annual Energy Outlook 2015 (AEO2015), EIA expects the United States to be a net natural gas exporter by 2017. After 2017, natural gas trade is driven largely by the availability of natural gas resources and by world energy prices. Increased availability of domestic gas or higher world energy prices each increase the gap between the cost of U.S. natural gas and world prices that encourages exports of liquefied natural gas (LNG), and, to a lesser extent, greater exports by pipeline to Mexico. The AEO2015 examines alternate cases with higher and lower world oil price assumptions, which serve as a proxy for broader world energy prices given oil-indexed contracts, as well as with higher assumed U.S. oil and natural gas resources. These assumptions significantly affect projected growth in annual net LNG exports after 2017. Net LNG exports make up most of the natural gas exports in most cases. By 2040, LNG exports range from 0.2 trillion cubic feet (Tcf) in the Low Oil Price case to 10.3 Tcf in the High Oil and Gas Resource case. For comparison, 2040 natural gas net exports by pipeline range from 1.1 Tcf in the High Oil Price case to 2.9 Tcf in the High Oil and Gas Resource case [eia.gov]

» April 28 2015 - #FossilFuelSubsidies, #WorldBank, #OilChangeInternationalReport. [by priceofoil.org] Still Funding Fossils: World Bank Group Energy FY 2014. Despite repeated calls for urgent action on climate change, the World Bank Group increased funding for fossil fuels in its last fiscal year. The World Bank's increase in fossil fuel finance is especially disappointing as 2014 was the first full fiscal year following the World Bank's commitment to limit coal financing due to climate concerns. The main findings of the review include: The World Bank Group increased its support for oil, gas, and coal in FY 2014 over previous years; Financing for fossil fuel exploration continued at significant levels, in spite of the fact that this lending supports the expansion of projects that threaten the climate; WBG financing still went to coal, despite the pledge to end finance for coal power plants except in extreme circumstances; Financing for energy access increased somewhat over previous years, with 13 percent of energy financing in FY 2014 going to projects that target increased energy access for the poor; Fossil fuels and large hydropower accounted for only 4 percent of energy access financing, showing again that investing in large, conventional energy projects is not an effective way to increase energy access [priceofoil.org]

» April 28 2015 - #EnergyCharterTreaty, #Italy. [by globalinvestorcoalition.org] Italy to quit Energy Charter Treaty. Italy will withdraw from the Energy Charter Treaty at the beginning of next year, as claims brought by solar power investors mount against European countries [globalarbitrationreview.com]

» April 28 2015 - #ClimateChange, #LowCarbonEconomy, #InvestmentSolutions, #GlobalInvestorCoalitionReport. [by globalinvestorcoalition.org] the Global Investor Coalition on Climate Change has released a new, free publication: "Climate Change Investment Solutions: A Guide for Asset Owners." The Guide outlines a range of strategies and approaches investors can use to address climate change, focusing on investment solutions and also referencing engagement and portfolio decarbonization - as investors around the world work to scale up their efforts to reduce carbon risks and invest in clean energy. The Guide builds on the investor commitments set forth in the Global Investor Statement on Climate Change that more than 360 global investors signed in 2014. It focuses on 4 areas: (1) strategic review to integrate climate change into investment beliefs and policies, (2) strategic asset allocation to assess and manage the risks and opportunities presented by climate change within existing and evolving asset allocations, (3) approaches for investing in climate change mitigation including reducing carbon intensity of existing assets and investing in low carbon, clean energy and energy efficient assets, and (4) ways to invest in climate adaptation to reduce vulnerability of existing assets to physical impacts and build exposure to emerging adaptation solutions [globalinvestorcoalition.org]

» April 28 2015 - #ClimateChange, #LowCarbonEconomy, #EmissionReductionTargets, #Australia, #Geopolitics. [by climatechangeauthority.gov.au] First draft report of the Special Review: Australia's future emissions reduction targets. The Special Review is being conducted at the request of the Minister for the Environment. This first draft report of the Special Review is intended primarily as an input to the Government's deliberations on emissions reduction targets. The Government has indicated it will announce Australia's targets by mid-2015, well ahead of the international negotiations for a new climate agreement in Paris in December 2015. The Authority recommends a 2025 target for Australia of 30 per cent below 2000 levels. The Authority considers this target is comparable to the efforts of other countries. In recommending targets, the Authority attaches most weight to the science of climate change, the efforts of comparable countries to reduce their emissions, and Australia's own long term interests. In considering targets for the post-2020 period, the Authority has taken account of the uncertainty regarding Australia's action to 2020, and how quickly Australia might 'catch up' with global efforts. The recommended 2025 target of a 30 per cent reduction by 2025 remains reasonable and achievable even if Australia does not strengthen its 2020 target beyond the minimum 5 per cent reduction. If Australia is able to do more than 5 per cent by 2020, this would allow a more gradual acceleration of effort beyond 2020 [climatechangeauthority.gov.au]

» April 27 2015 - #NaturalGas, #Iran, #Geopolitics. [by naturalgaseurope.com] Iran's natural gas production has reached 660 million cubic meters per day (mcm/d) and the country is expected to increase this volume to 760 mcm/d by next spring. Iran has so far completed South Pars field's phases 1 to 10. Meanwhile, phases 12, 15 to 18 opened early and were expected to become fully operational within a year. Iran wants to increase South Pars gas production from its current levels of 350 mcm/d to 800 mcm/d by 2019. This requires completing 19 new phases of South Pars (Phases 11 to 29) with investing at least $43 billion. This means that Iran's natural gas production would stand at least at 1,100 mcm/d by 2019 totally. Official figures say that during last Iranian fiscal year (ending on March 20) about 40 percent of the country's total produced gas, or, 91 bcm, was consumed at housing sector. The number increased by more than two percent in comparison with the previous year [naturalgaseurope.com]

» April 27 2015 - #RenewableEnergy, #Nuclear, #NaturalGas, #France. [by energypost.eu] French government study: 95% renewable power mix cheaper than nuclear and gas. A new French government study shows that the cost to the French consumer of a 100% renewable scenario is more or less equal to a scenario close to today's, with only 40% renewables. It is yet another instance of leading energy experts asserting that a 100% renewable future is possible, writes Terje Osmundsen, Senior Vice-President of Norwegian independent solar power producer Scatec Solar [energypost.eu]

» April 27 2015 - #Nuclear, #Russia, #Argentina. [by world-nuclear-news.org] Russia's Rosatom has released details of an inter-governmental agreement to build Argentina's sixth nuclear power reactor. The memorandum of understanding (MoU), signed yesterday in the presence of Russian President Vladimir Putin and Argentine President Cristina Fernandez de Kirchner, establishes a "framework for cooperation" for construction of a 1200 MWe VVER unit in the South American country, the state nuclear corporation said [world-nuclear-news.org]

» April 24 2015 - #RenewableEnergy, #EnergySystemInnovation, #US. [by stanford.edu] Stanford Energy System Innovations. Stanford announces an innovative new approach to meeting its energy needs that will make it one of the world's most energy-efficient universities. The comprehensive new system incorporates solar power for electricity, combined with heat recovery, to allow the university to exceed the aggressive greenhouse gas emissions reduction goals of California's landmark AB 32 Global Warming Solutions Act. It eliminates 150,000 tons of carbon dioxide annually, the equivalent of removing 32,000 cars from the road [stanford.edu]

» April 24 2015 - #EnergyPriceShock, #ClimateChange, #WaterCrises, #GeopoliticalRisksWefReport, #GlobalEconomy, #Geopolitics. [by zurichna.com] Global Risks 2015: 10th Edition. The growing interconnectedness of the global economy increases the economic effects of any geopolitical conflict. Supply chains that run across countries in conflict could be interrupted, leading to disruptions in the availability of goods or energy. Survey respondents considered the risk of an energy price shock to the global economy as more impactful and more likely than in previous years, despite the increasing availability of shale gas or alternative energy sources [...] Over the past decade, awareness has grown regarding the threats posed by environmental change to social, political and economic security. As the Global Risks Perception Survey 2014 highlights, three of the top 10 risks in terms of impact over the next 10 years are environmental risks: water crises, at the top of the table, and failure of climate-change adaptation as well as biodiversity loss. Both water crises and failure of climate-change adaptation are also perceived as more likely and impactful than average [...] Major consumer companies and financial institutions see the need to reduce global climate risks and have mobilized action along their supply chains, for example through the New York Declaration on Forests and the move towards climatefriendly coolants. The Oil & Gas Climate Initiative signalled refreshed engagement from major energy producers [zurichna.com]

» April 24 2015 - #OilPrices, #OilProduction, #Opec, #US, #ShaleBoomCrush. [by oilprice.com] Oil Price Rebound Soon. BP's former CEO Tony Hayward agrees with OPEC that its strategy of maintaining the oil glut and thereby helping to drive down prices will quickly crush the US shale boom and that oil prices will rally sooner than many people expect. Hayward, one of 42 speakers at the Financial Times' Global Summit in Lausanne, Switzerland, on April 20-22, said the average global price of a barrel of crude will soon be around $80, up from the current price of about $60, demonstrating that OPEC is "the most successful cartel in history." [oilprice.com]

» April 24 2015 - #CleaEnergyAccess, #RenewableEnergy, #EnergyPolicy, #FinanceAndEconomics. [by Clean Energy Ministerial] Pathways for Clean Energy Access. Around the world, more than 1 billion people lack access to electricity, concentrated in Sub-Saharan Africa and Asia. Improving access to clean and affordable energy services for these populations will be a critical driver for poverty reduction as well as improved health and social outcomes. Improving energy access is a complex challenge, so it's no surprise that solutions designed to address it are also multi-faceted. Extending the central grid to many rural communities is often not economically viable, but these unserved populations can gain access to electricity through a growing range of technologies that provide increasing levels of service. Decentralized clean energy technologies such as off-grid solar lanterns, solar home systems and mini-grids displace dirty fuels such as kerosene and diesel. As component costs (e.g., solar photovoltaic panels, battery storage, and LEDs) fall and market shares increase, these clean technologies are bringing more modern energy services within reach for vast new segments of un- and under-electrified populations. The Clean Energy Ministerial's Global Lighting and Energy Access Partnership (Global LEAP) has prepared a new infographic that outlines the key pathways to energy access, highlighting the range of clean energy technologies that can be applied in different energy access contexts [cleanenergyministerial.org]

» April 23 2015 - #ClimateGovernance, #EnergyUnion, #RenewableEnergy, #EnergyPolicy, #FinanceAndEconomics, #EurelectricPositionPaper. [by eurelectric.org] Energy Union and 2030 Energy & Climate Governance. Eurelectric supports the development of a holistic governance system which provides for a coherent approach both to the 2030 climate and energy framework and to Europe's broader "Energy Union" policy objectives. Governance should ensure that Europe proceeds towards the agreed 2030 targets without compromising security of supply, competitiveness, and sustainability. The costs for European customers should remain affordable. EU targets and policy objectives should be handled in a manner consistent with the development of a more integrated European energy market. The binding carbon reduction target of 40% should remain the centrepiece of the 2030 framework. Decarbonisation should take place cost efficiently. Two elements are key in this respect: a well-functioning electricity market and a robust EU ETS. The governance of the internal electricity market, including the role of ACER, must be developed with a European mind-set safeguarding the interests of the European customers. The first step should be to develop a vision for the role of ACER. Regional cooperation of TSOs should be increased, aiming for TSOs acting as regional system operators. The role of ENTSO-E should be developed, learning from past experience. To ensure collective progress towards Europe's agreed 2030 targets and other energy policy objectives, key performance indicators should be introduced. The governance process, including the national plans for 2030, should provide a transparent, credible and predictable framework for investors along the whole value chain. The governance system should also ensure regional cooperation, coordination and solidarity, starting from the early stages of national policy drafting. For instance, regional cooperation may allow Member States to develop renewables more cost-efficiently by pooling resources. Should Member States decide to continue support schemes for mature renewable technologies after 2020, the impacts of these measures should be assessed and discussed with neighbouring countries and the Commission, to ensure consistency with other measures, e.g. the ETS, to maximise cost efficiency, and minimise market distortions[eurelectric.org]

» April 23 2015 - #SustainableElectricity, #OkinawaDeclaration. [by snam.it] International Electricity Summit 2015 in Okinawa. The future of electricity supply and demand, the increasing diffusion of renewable sources, political and regulatory tendencies in the carbon and nuclear sectors, the challenge of climate change related to the UN conference scheduled to take place in Paris in December this year. These are the main topics discussed at the 2015 edition of International Electricity Summit that was held in Okinawa (Japan) on April 13-14. At the end of the summit, the representatives of the sector's industry associations from around the world - European Eurelectric, the U.S. Edison Electric Institute, Canadian Electricity Association of Canada, Australia Energy Supply Association and Japanese Federation of Electric Power Companies of Japan - released a joint declaration which reaffirms "the crucial role of electricity in the transition towards a sustainable global energy system." The common goal of the associations is to "supply sustainable, reliable, inexpensive and accessible electricity." The next International Electricity Summit will be held in Portugal in 2016 [snam.it]

» April 23 2015 - #OilGasSector, #OilGasMobilityMarket, #MaMReport. [by marketsandmarkets.com] The Oil and Gas Mobility market to grow from $7,007.5 million in 2015 to $ 18,693.9 million by 2020, at a CAGR of 21.7%. The report "Oil and Gas Mobility Market by Application (Asset Management, Data Management, Risk and Regulatory Compliance, Materials Management, Workforce Automation, Mobile Analytics, Others), by Service, by Deployment Type (Hosted, and On-Premises), by Users & by Region - Global Forecast to 2020", defines the Oil and Gas Mobility market based on various software, service types, deployment types, and user types with an in-depth analysis and forecasting of market sizes. Oil and Gas Mobility provides automation to various processes of the oil and gas sector. These functions include Asset Management, Materials Management, Mobile Analytics, Risk and Regulatory Compliance, and Workforce Automation. Apart from automating the functions, oil and gas mobility also help in automating the analysis of large chunks of quantified data which is generated in upstream, midstream and downstream process. This analysis helps in establishing a functional digital link among diverse locations, drafting organizational strategies, and ensures quick decision making. Thus, making oil and gas mobility market one of the most crucial markets in the world. Oil and gas mobility solutions help the oil and gas companies to plan their operations in a secured and efficient means [marketsandmarkets.com]

» April 23 2015 - #OilDemand, #reuters. [by reuters.com] Global oil demand is set to rise by 1 million or even 1.5 million barrels per day (bpd) in 2015, according to a range of forecasters. Coupled with a fall in shale output in the second half of the year, as the decline in the U.S. rig count takes effect, that should be enough to bring the oil market near to balance by early 2016 [reuters.com]

» April 22 2015 - #OilProduction, #Angola, #OpecBullettin. [by opec.org] Angola has announced that it is aiming to attain its longawaited crude oil production target of two million barrels/day by the beginning of next year. The OPEC Member Country's state oil company, Sonangol, said that to achieve this target by 2016, domestic production would have to rise by around 330,000 b/d from the 1.67m b/d average produced last year. The 2014 production figure was 50,000 b/d lower than the 1.72m b/d recorded in 2013. According to official figures quoted by the Platts news service, Sonangol's share of total output last year stood at 222,269 b/d, up from 181,746 b/d in 2013. Sonangol said: "In the first half of the year we saw a sustained reduction in oil production that reached its lowest daily level of 1,474,066 b/d in March 2014. The effects of this production decrease were partially offset by higher prices of crude [opec.org]

» April 22 2015 - #CleanEnergyInvestment, #CleanEnergyPipelineReport. [by energypost.eu] New investment in the global clean energy sector totalled $61.0 billion in Q1 15, a 14% decrease on Q4 14 ($71.3 billion) and a 5% decrease on the corresponding quarter in 2014 ($64.4 billion). This was announced on 21 April by Clean Energy Pipeline, an online financial news and data service dedicated to the clean energy sector. [...] "Project finance performed well, registering a 10% increase over the same period last year. However, public market activity and venture capital and private equity investment underperformed significantly." According to Clean Energy Pipepline, the "brightest news" from Q1 15 was "a 12% annual increase in clean energy project finance to $44 billion. This was underpinned by a surge in deal activity in Asia - approximately $13 billion was raised for renewable energy projects in Asia in Q1 15, almost double the $6.9 billion invested in Q1 14." Project finance was also boosted by the financial close of ten of the seventeen wind, solar and biomass projects in Round 3 of South Africa's Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), said Clean Energy Pipeline. "Some $2.8 billion was secured for these projects, the most notable of which are the $880 million 100 MW Xina Solar One CSP plant backed by Spain-based Abengoa Solar and the $812 million 360 MW Khobab, Loeriesfontein 2 & Nouport wind portfolio developed by Irish project developer Mainstream Renewable Power." There were also two notable offshore wind project finance deals in Q1 15. The 322 MW Nordsee 1 offshore wind farm in Germany secured $889 million debt financing from a group of ten lenders while the 30 MW Block Island offshore wind farm, which will be the first utility-scale project in US waters, also reached financial close. Clean Energy Pipeline further notes that "clean energy companies raised $2.9 billion on the public markets in Q1 15 through a mixture of IPOs, secondaries and convertible note issuances, a 42% decrease on the $5.0 billion secured during the corresponding period in 2014." "YieldCos continued to tap the public markets in Q1 15. Seven YieldCos raised a combined $1.4 billion, accounting for nearly half of the total volume secured. This is also a 47% increase on the $950 million quarterly average secured by YieldCos since the beginning of 2013. Notable public market deals by YieldCos in Q1 15 included the secondary offerings by TerraForm Power ($352 million), Pattern Energy Group ($351 million) and Abengoa Yield ($328 million)." [energypost.eu]

» April 22 2015 - #ClimateFinance, #ClimateChange, #G7. [by germanclimatefinance.de] Climate change will rank high on the agenda when the leaders of the seven major developed economies - Germany, France, the United Kingdom, Italy, Japan, the USA and Canada (G7) - meet in Bavaria's Schloss Elmau in June. The focus is inevitable, as Chancellor Merkel may have thought to herself, if a comprehensive climate change agreement is to be reached in Paris in late 2015. Moreover, she had not attended the last gathering of heads of government on the topic - the UN climate summit in New York last September - with the very excuse that climate change would feature prominently at the G7 summit under German presidency. Progress on climate finance will apparently also be a focus of the meeting. At the G7 summit in Brussels in 2014, the heads of government had already reaffirmed the pledge they made in Copenhagen in 2009 to increase their financial support for developing countries in the fight against climate change to $100 billion annually by 2020 [germanclimatefinance.de]

» April 22 2015 - #OilProduction, #Egypt, #Eni. [by eni.com] Eni reached a record level of production of 70 thousand barrels of oil per day in the Western Desert of Egypt, doubling its level of production in the area in just three years. Such result was achieved mainly thanks to the Melehia development lease, located 290 kilometers west of Alexandria. In Melehia, Eni's production has reached 54 thousand barrels of oil per day following the exploration successes obtained in the deep plays of Lower Cretaceous and Jurassic age, where the company is currently carrying out an intensive exploration, appraisal, workover and production optimization activity. The remaining part of the production in the area comes from other three development leases (Ras Qattara, Raml and West Razzak). In January this year, Eni signed a new Concession Agreement to operate in the Melehia Southwest block, where exploration activities on the same deep plays will start within the year. Eni deems this concession a key element for the sustainability of future production growth in the Egyptian Western Desert [eni.com]

» April 22 2015 - #OilPrices, #OilMarket, #WebcastPremieresLIVE. [by Offshore] Falling oil prices and the offshore oil and gas industry: assessing the state of the market. The precipitous decline in oil prices has brought many areas of the oil and gas industry to a standstill. Yet while some sectors are feeling the pinch, others are still moving forward with field development and project plans. And, there may be a difference in the impact with regard to onshore versus offshore operations. How have falling oil prices impacted the offshore oil and gas industry? This focused webcast will examine the effects of falling prices on the offshore sector, notably in the Gulf of Mexico, West Africa and Brazil. And, the industry experts participating in this webcast will provide a near-term and long-term outlook for the offshore industry as well. April 23, 2015 [Offshore]

» April 21 2015 - #RenewableEnergy, #EnergyPolicy, #EU, #Towards2030Report. [by towards2030.eu] Towards2030-dialogue project has the pleasure to announce the publication of the 3rd Issue Paper: "What will be the Main Challenges for the Design of Renewable Electricity Policy in the EU?" The aim of the 3rd Towards2030-dialogue Issue Paperis to provide an initial analysis of: challenges related to policy design (choice of renewable electricity instrument and design element) for future (2030) renewable electricity policy in Europe; and policy measures to mitigate the problems associated to these challenges, focusing on instruments and design elements [towards2030.eu]

» April 21 2015 - #NaturalGas, #LNG, #EU, #Thomson ReutersReport. [by gasworld.com] Various dynamics in the global LNG business mean that an influx of LNG into Northwest Europe is not expected this summer, according to a Thomson Reuters LNG Outlook report. Far more LNG cargoes were delivered to northwest Europe this winter (October – March 2014/15) than winter 2013/14. Lower demand from several large Asian importers and higher export volume led to an ample supply overhang in the market, drawing excess Qatari and Atlantic cargoes to Europe. This summer (April - September 2015), however, Thomson Reuters expects the LNG Asian spot price to remain depressed at 7–9 $/MMBtu. Its report therefore assumes the current differential (< 2 $/MMBtu) between northwest European forward prices and Asian LNG spot price will prevail throughout the summer - attracting uncommitted Atlantic volumes and excess Qatari production to Europe [gasworld.com]

» April 20 2015 - #ShaleGas, #Fracking, #EnvironmentalRisks, #China. [by odi.org] This paper analyses the best available technical, scientific and engineering literature on the risks and opportunities posed by shale gas, and also what policy environment could maximise the opportunity and minimise the risk. It also analyses China's current policies and practice to understand whether the conditions for greener growth are in place. We conclude that many of the environmental risks shale gas poses are manageable, and amenable to conventional environmental law and policy tools. Its development could in principle offer significant net environmental benefits if the gas produced permanently replaces coal and helps set China on a pathway to a renewable-dominated energy system. The greater impediment is political, hinging on whether China has the political will and capacity to dramatically cap coal generation, invest in renewable energy and enforce strong environmental regulations and targets [odi.org]

» April 18 2015 - #Oil, #CrudeOilPrices, #US, #SaudiArabia. [by espresso.economist.com] Crude-oil prices: the new normal. An oil-price collapse is now as unlikely as a spike. The new normal lies between $50 and $70, with America replacing Saudi Arabia as the swing producer. For the sheikhs, political reasons determined output; for America's shalemen, however, only market signals matter. Though the rig count has fallen by half, the International Energy Agency reckons that American oil production will decline only slightly by the fourth quarter of this year, from 12.6m barrels a day to 12.5m. That has created a "fracklog"-up to 800,000 b/d which will come into production if prices rally. Meanwhile OPEC-despite frantic entreaties from Russia-keeps putting market share first: prices are down by 45% but Saudi Arabia is pumping at a near-record rate of 10.1m b/d. As always, a big upset in the Middle East could change the outlook. But the lesson from America is that technology and finance are trumping geology and geopolitics [espresso.economist.com]

» April 18 2015 - #Coal, #RenewableEnergy, #PV, #Australia. [by theage.com.au] AGL, the country's largest greenhouse gas emitter, has vowed to close all its existing coal-fired power stations by 2050 and will not build or buy new conventional plants in the meantime. The company, which emits about 40 million tonnes of carbon dioxide annually, has a key role in gradually reducing emissions while providing secure and affordable electricity, Andrew Vesey, the company's chief executive, said. AGL released its Greenhouse Gas Policy on Friday, the same day that Mr Vesey installed the last of 1,366,380 solar panels at the company's giant Nyngan Solar Plant in western NSW. The 102-megawatt plant, Australia's largest solar site, is part of a $440 million project, which also includes a partner 53MW plant at Broken Hill due for completion later this year. AGL's renewable energy portfolio has now expanded to 1,766 MW, contributing 17 per cent of its generation capacity. To support the federal government's commitment to work towards keeping global warming to less than 2 degrees of pre-industrial levels, "companies such as AGL need to take the lead" [theage.com.au]

» April 18 2015 - #NuclearPower, #EconomicCost, #CO2Emissions, #Japan. [by J.M. Pedraza, Energy Economics and Geopolitics] Economic cost of Japan's nuclear shutdown. Nuclear power benefitted the Japanese economy by some ¥33 trillion over the years, said Masakazu Toyoda of the Institute of Energy Economics, Japan (IEEJ), and the country risks wasting this in its slow progress to restart its reactors. Speaking at the Annual Conference of the Japan Atomic Industrial Forum (JAIF), Toyoda said that Japan's dependence on imported fossil fuels was now higher than it was in 1973. The country's response then was to increase nuclear power generation, and now it should maintain nuclear power as an "essential option", he said. Beyond financial considerations, the rush to fossil fuels also caused Japanese carbon dioxide emissions to rise to some 10.8% beyond 1990 levels, according to Kenji Yamaji of the Research Institute of Innovative Technology for the Earth, who presented yesterday at the same conference. Yamaji said this completely eliminated Japan's achievement of its Kyoto Protocol targets in 2010. All 48 of Japanese nuclear power reactors remain offline pending confirmation that they meet heightened post-Fukushima safety requirements set by the still-new Nuclear Regulation Authority [linkedin.com]

» April 17 2015 - #NaturalGas, #EU, #Greece, #Russia, #TAP, #TurkishStream, #Geopolitics. [by bruegel.org] Will natural gas cooperation with Russia save the Greek economy? Structural impact on the Greek economy will be limited. [...] President Putin declared that Russia would consider the option of providing loans to Greece for joint large-scale natural gas projects. This was a reference to Turkish Stream, a project launched in December 2014 by the Russian President himself, intended to deliver substantial volumes of Russian gas to Turkey and Europe while completely bypassing Ukraine from 2019. According to President Putin, Greece would primarily benefit from the pipeline project by enjoying significant transit revenues. Let's try to figure out whether this statement has a solid basis. Turkish Stream is set to have a capacity of 63 billion cubic metres per year (bcm/y). Considering that 14 bcm/y will be exclusively devoted to the Turkish domestic market, the maximum volume that might transit through Greece would be 49 bcm/y. Considering that Slovakia applies a transit fee of about EUR 7.8 per thousand cubic metres (tcm) for the natural gas transit from Ukraine to Austria via its 400 km-long transit route, Greece might collect about EUR 380 million annually in transit charges. According to Prime Minister Tsipras, the construction of a pipeline connecting the arrival point of Turkish Stream at the Turkish-Greek border with the Greek-Macedonian border (from where natural gas might flow northwards to Austria via Macedonia, Serbia and Hungary) might have a considerable impact in terms of job creation in Greece. To put it into perspective, Trans Adriatic Pipeline AG, the company working on a similar pipeline project -TAP- optimistically projects the creation of around 2,000 directly related new jobs and a further 10,000 peripheral new jobs in Greece. These numbers indicate the limited impact of these projects on the Greek labour market. Furthermore, Greece hopes that enhanced natural gas cooperation with Russia will also lead to a significant discount on its imports of Russian gas, at a level of around 10 percent. Considering that the average price paid by Greece for Russian gas was around EUR 440 per thousand cubic metres in 2013 and that Greece annually imports from Russia around 2.4 bcm of natural gas, the annual natural gas bill of Greece vis-a-vis Russia could be estimated at about EUR 1 billion. A 10 percent discount would thus represent a net saving of about EUR 100 million. To put it into perspective, we compare the "Russian gas package" with Greece's actual bailout package. In short, the sum of the potential annual transit charges of EUR 380 million and the potential annual savings on the natural gas bill of EUR 100 million have a net present value of EUR 4.8 billion (calculated with the current long-term interest rate of 10 percent). This is two orders of magnitude smaller than the Second Economic Adjustment Programme approved by euro area finance ministers in 2012 which foreseen financial assistance of EUR 164.5 billion until the end of 2014. Furthermore, considering that Eurostat estimates Greece's total annual government spending at EUR 107 Billion, the impact of the "Russian gas package" on the country's total annual government spending would be limited, at 0.5 percent [bruegel.org]

» April 17 2015 - #RenewableEnergy, #PV, #DeutscheBankReport. [by db.com] Solar Grid Parity in a Low Oil Price Era. Despite the recent drop in oil price, we expect solar electricity to become competitive with retail electricity in an increasing number of markets globally due to declining solar panel costs as well as improving financing and customer acquisition costs. Unsubsidized rooftop solar electricity costs between $0.08-$0.13/kWh, 30-40% below retail price of electricity in many markets globally. In markets heavily dependent on coal for electricity generation, the ratio of coal based wholesale electricity to solar electricity cost was 7:1 four years ago. This ratio is now less than 2:1 and could likely approach 1:1 over the next 12-18 months. Electricity Prices are Increasing, Despite Nat Gas Price Swings. Peak to trough, average monthly natural gas prices have decreased ~86% over the past 10 years. Yet, during this time period, average electricity prices have increased by ~20% in the US. The main driver for rising electricity bill is that T&D investments which represent 50% of bill have continued to ramp and have accelerated recently. In 2010, T&D capex levels of for US Utilities ~$27B were ~300% higher than 1981 levels. We expect electricity prices worldwide to double over the next 10-15 years making the case for solar grid parity even stronger. Solar System Costs Could Continue to Decline. The economics of solar have improved significantly due to the reduction in solar panel costs, financing costs and balance of system costs. Overall solar system costs have declined at ~15% CAGR over the past 8 years and we expect another 40% cost reduction over the next 4-5 years. YieldCos have been a big driver in reducing the cost of capital and we expect emergence of international yieldcos to act as a significant catalyst in lowering the cost of solar power in emerging markets such as India. How to Make Hay While the Sun Shines?. The solar sector has been generally under owned by institutional investors and we expect greater institutional ownership to drive positive momentum for the sector over the next 12-18 months. We expect a number of new business models focused on the downstream part of the value chain to emerge and expect innovative private companies to drive cost improvement/solar adoption. We believe companies involved in financing/downstream part of the value chain stand to generate the most significant shareholder value in the near term. Our top picks include SUNE, SCTY, SPWR, TSL, FSLR and VSLR [db.com]

» April 17 2015 - #RenewableEnergy, #FossilFuel, #Bloomberg. [by bloomberg.com] Fossil Fuels Just Lost the Race Against Renewables. The race for renewable energy has passed a turning point. The world is now adding more capacity for renewable power each year than coal, natural gas, and oil combined. And there's no going back. The shift occurred in 2013, when the world added 143 gigawatts of renewable electricity capacity, compared with 141 gigawatts in new plants that burn fossil fuels, according to an analysis presented Tuesday at the Bloomberg New Energy Finance annual summit in New York. The shift will continue to accelerate, and by 2030 more than four times as much renewable capacity will be added. "The electricity system is shifting to clean," Michael Liebreich, founder of BNEF, said in his keynote address. "Despite the change in oil and gas prices there is going to be a substantial buildout of renewable energy that is likely to be an order of magnitude larger than the buildout of coal and gas." The price of wind and solar power continues to plummet, and is now on par or cheaper than grid electricity in many areas of the world. Solar, the newest major source of energy in the mix, makes up less than 1 percent of the electricity market today but could be the world’s biggest single source by 2050, according to the International Energy Agency. The question is no longer if the world will transition to cleaner energy, but how long it will take. In the chart below, BNEF forecasts the billions of dollars that need to be invested each year in order to avoid the most severe consequences of climate change, represented by a benchmark increase of more than 2 degrees Celsius. The blue lines are what's needed, in billions; the red lines show what's actually being spent. Since the financial crisis, funding has fallen well short of the target, according to BNEF [bloomberg.com]

» April 16 2015 - #Oil, #IeaMarketReport. [by ogj.com] In its April Oil Market Report, the International Energy Agency raised its forecast of 2015 global oil demand by 90,000 b/d to 93.6 million b/d, a gain of 1.1 million b/d on the year and a notable acceleration of the 700,000-b/d growth in 2014, as the global economy slowly gains momentum. Colder-than-year-earlier temperatures in most Organization for Economic Cooperation and Development economies in this year's first quarter also accounted for part of the upward revision. Since bottoming out at a 5-year low of 270,000 b/d year-on-year in second-quarter 2014, global growth has steadily strengthened, rising to a one-and-a-half-year peak of 1.3 million b/d year-on-year in this year's first quarter. Global supply rose an estimated 1 million b/d month-on-month in March to 95.2 million b/d. Supplies from the Organization of the Petroleum Exporting Countries surged to 31.02 million b/d in March, up 890,000 b/d on February, as top exporter Saudi Arabia ramped up output towards record rates while Iraq and Libya rebounded strongly. Estimated non-OPEC oil production rose 100,000 b/d to 57.7 million b/d in March, led by the US, with Russia also contributing [ogj.com]

» April 16 2015 - #Energy, #WaterRisk, #China, #ChinaWaterRiskReport. [by chinawaterrisk.org] Towards a water & energy secure China. China's waterscape is changing. Water risks in China, be they physical, economic or regulatory, have great social-economic impact and are well recognized. China Water Risk (CWR) has encouraged a comprehensive view of such water risks since our launch in October 2011 with the aim of increasing the understanding and thereby the mitigation of such risks. We believe that water cannot be considered alone, that an unsiloed approach to the challenges China faces relative to water is critical. Thus water and energy has of necessity been a key area of focus. We can no longer ignore that rapid industrialization and rising affluence, along with an increasingly complex waterenergy nexus, has put mounting pressure on the supply of water. Today, power generation is the largest user of industrial water. In fact, 93% of power generation in China is water-reliant. In short, no water = no power and vice versa as we require power to clean, transport and distribute water. Moreover, China's water resources, arable land and energy reserves are mismatched: many of the nation's large coal mines lie next to the North China Plain, the country's agricultural heartland. Many of these areas also have limited water. In China, water scarce provinces (with water resources similar to the Middle East) generate nearly half of China's GDP, almost 40% of total agricultural output value and hold over half of China's ensured coal reserves. Rampant pollution has also exacerbated water scarcity and brought about concerns over soil pollution and food safety. It is inevitable that there will be conflicting needs for limited water in the future [chinawaterrisk.org]

» April 16 2015 - #NaturalGas, #Russia, #EU. [by ft.com] Gazprom chief warns EU over pricing challenge. Gazprom, Russia's state controlled gas exporter, has said attempts by Brussels to crack down on its pricing model will backfire - and trigger higher average energy costs across Europe. Alexei Miller, chief executive, issued the warning on Monday as the European Union prepares a landmark antitrust case over accusations that Gazprom overcharged customers in eastern Europe. Brussels is also drawing up plans to challenge Gazprom's ability to charge widely divergent prices across the EU, by giving the European Commission oversight over the gas company's contracts. EU officials are encouraging gas purchasers to give themselves more leverage in negotiations with Russia by clubbing together to buy their gas jointly, in higher volumes [ft.com]

» April 15 2015 - #FossilFuelSubsides, #WB, #Geopolitics. [by theGuardian] Scrap fossil fuel subsidies now and bring in carbon tax, says World Bank chief. Jim Yong Kim calls for five-point plan to deliver low-carbon growth, including removal of incentives to exploit oil, gas and coal. [...] Kim said it was crazy that governments increased the use of coal, oil and gas by providing subsidies for consumers. He said that in low and middle-income countries, the richest 20% received six times as much from fossil fuel subsidies as the poorest 20%. He added: "We need to get rid of fossil fuel subsidies now." Kim insisted that the recent fall in energy prices meant there had never been a better time to reduce the payments made by governments to help people with their fuel bills. Politicians around the globe currently spend around $1tn a year subsidising fossil fuels, but Kim said: "Fossil fuel subsidies send out a terrible signal: burn more carbon." Some countries, such as South Korea, have recently announced carbon taxes as a way of making the use of fossil fuels more expensive. Kim said: "You can have growth that will protect the planet and decouple carbon emissions from growth. We can get it now, but it would be much easier if we put a price on carbon." [theguardian.com]

» April 15 2015 - #NaturalGas, #Ukraine, #Russia, #EU, #Geopolitics, #CsisLiveEvent. [by csis] Ukrainian Energy Reforms and European Gas Supply. Monday, Apr 20, 2015 | 2:00 pm - 3:30 pm. Following the ousting of Viktor Yanukovych in early 2014, a pro-reform and pro-Western government emerged. Despite the Russian annexation of Crimea and ensuing conflict in eastern Ukraine, much hope is placed in the new Ukrainian government's ability to institute wide-ranging domestic reforms, particularly in the energy sector. Nonetheless, concrete, effectual changes have yet to materialize. Simultaneously, the EU is looking to move ahead with its antitrust case against Russian gas giant Gazprom anti-competitive business practices [csis.org]

» April 15 2015 - #GHGEmissions, #Coal, #Japan. [by bnef] Japan's greenhouse gas emissions rose 1.2 percent in fiscal 2013 amid an increase in consumption of coal for power generation, the Ministry of the Environment said Tuesday in a report. Emissions of carbon dioxide rose 9.9 percent in the commercial sector, which includes office buildings, hotels and stores, as their consumption of electricity and oil products increased, according to the ministry. Other sectors such as industries, transport and residential saw their CO2 emissions drop. Carbon dioxide accounts for more than 90 percent of greenhouse gases. Greenhouse gas emissions totaled 1,408 million tons in fiscal 2013, the highest level since a record 1,412 million tons in fiscal 2007, the ministry said, revising preliminary figures announced in December [bnef.com]

» April 15 2015 - #EnergyTransition, #ExergeiaReport. [by impacteconomy.com] Energy Transition Fast Forward! Scouting the Solutions for the 80-100% Renewable Economy. What would need to happen if we were to dramatically accelerate the energy transition under way? The mission-driven global impact investing and strategy firm Impact Economy launched today a report "Energy Transition Fast Forward! Scouting the Solutions for the 80-100% Renewable Economy" on disruptive innovation opportunities in the renewable energy industry, shedding light on disruptive technologies and strategies to help bring them to the global energy market. Based on a nine-month comprehensive global scouting effort for the most promising clean energy solutions and technologies around the world, the report analyzes the current playing field, identifies the leading types of opportunities, and formulates recommendations for investors, inventors and the public sector on how to move forward. In 2015, the global community is facing an important year in global climate negotiations and investments in renewables are broadening. Next to surfacing bespoke investment opportunities via the Exergeia Project, the corresponding report is destined for a larger public. It provides empirical insights into which practical alternative energy possibilities could come on stream in order to accelerate the energy transition and raise the share of renewables to 80+ percent in the energy mix. The report also sheds light on the critical blockers standing in the way of a large-scale transition to using intermittent sources of renewable energy to power the global economy. Given that only about 13 percent of total global energy supply is currently produced from renewable energy sources, this report provides pointers on how to ultimately invert these proportions. In a world where an estimated 1.3 billion people around the world have no access to electricity at all, and where under a business as usual scenario, containing the rise in global temperature to two degrees Celsius will be impossible, it is time to take innovation and incubation of alternative energy solutions to the next level [impacteconomy.com]

» April 14 2015 - #Oil, #Iran, #P5+1Agreement, #Geopolitics, #EiaSteo. [by eia] Iran and the five permanent members of the United Nations Security Council plus Germany (P5+1) reached a framework agreement that could result in the lifting of oil-related sanctions against Iran [...] Iran is believed to hold at least 30 million barrels in storage, and EIA believes Iran has the technical capability to ramp up crude oil production by at least 700,000 bbl/day (bbl/d) by the end of 2016. The pace and magnitude at which those volumes would reach the market would depend on the terms of a final agreement. For additional analysis of the possible oil market effects of a lifting of sanctions against Iran [eia.gov]

» April 14 2015 - #NaturalGas, #Coal, #US, #EiaSteo. [by eia] U.S. Power generators are using more natural gas than last year, primarily because of lower natural gas prices compared with coal prices. The use of natural-gas-fired generation is projected to average 30.4% of total generation in 2015 compared with 27.4% during 2014. U.S. coal production is expected to fall by 7.1% in 2015, as natural gas displaces coal for power generation [eia.gov]

» April 14 2015 - #Oil, #China, #Iran, #Geopolitics. [by reuters] China exported 750,000 tonnes of crude oil in March, its largest volume since 2006, in a possible sign the world's second largest crude importer is running out of storage capacity. The figure could also reflect transfers of crude oil stored in China by Chinese trade partners, such as Iran [reuters.com]

» April 14 2015 - #EnergyPolicy, #Oil, #China, #Iran, #Geopolitics. [by abo.net] China-Iran: New oil agreements in sight. The new phase of relations between Beijing and Tehran sees two key Chinese players at the forefront of negotiations with National Iranian Oil Company: UNIPEC, trading division of Sinopec, and Zhuhai Zhenrong, one of the largest Chinese groups dealing with imports and exports of crude oil. The first agreement on the Iranian nuclear program, with the promise of a withdrawal of sanctions on the Islamic Republic by the Western countries, will have, among its first effects, that of allocating Chinese investments in Iran and of increasing crude oil supplies from Tehran to the first customer of Iranian crude oil: China [abo.net]

» April 14 2015 - #EnergyPolicy, #ClimatePolicy, #China, #CsisLiveEvent. [by csis] Energy Sector and Climate Reforms in China. Two major political goals are animating change in China's energy sector: the goal of peaking carbon dioxide emissions on or before 2030 as part of China's international climate commitment and the drive for energy market and pricing reform. Yet energy sector reform and climate policy in China are operating on two separate tracks. 9:30 am - 11:00 am [csis.org]

» April 13 2015 - #ClimateChange, #ParisClimateTalks, #Geopolitics. [by oilprice.com] Is The Paris Climate Conference Doomed To Fail? The Intended Nationally Determined Contributions or INDCs are beginning to pour in and the public declarations will serve as fodder for any international agreement in Paris. To date, Gabon, the European Union, Mexico, Norway, Russia, Switzerland, and the United States have published their INDCs. Together, this group accounts for approximately 34 percent of global CO2 emissions - the US alone is responsible for about half of that. Individually, support for international market mechanisms a la the European Union's Energy Trading System appears to be widespread - a pattern attributable to their growing success worldwide, and in the US, at the state level. In the US Northeast, the Regional Greenhouse Gas Initiative (RGGI) is exceeding expectations. Since 2008, the cap and trade program has reduced emissions from the power sector by 30 percent. [...] In California - the world's 8th largest economy - cap and trade is off to a roaring start. Since its inception in 2013, the program, which covers 85 percent of the state's GHG emissions, has already seen capped emissions fall by 4 percent. Jobs growth, economic output and efficiency, and clean technology venture capital investment are all up significantly - and well above national averages - since the Global Warming Solutions Act became law. As of 2014, California's market is fully linked with Quebec - a bond that aims to pave the way for similar linkages worldwide [...] a global carbon tax or cap and trade system doesn't begin with the US - carbon taxes of varying degrees already exist in 15 nations and cap and trade programs are even more widespread - but without its clear support, much less cooperation, Paris 2015 and any subsequent mitigation efforts will have substantially less bite, not to mention effect [oilprice.com]

» April 13 2015 - #NaturalGas, #Russia, #Turkey, #EU, #Geopolitics. [by abo.net] Turkish Stream: seeks itself a new name. Greek Prime Minister Alexis Tsipras' visit to Moscow has brought a result: Turkish Stream, the project proposed after the termination of South Stream, will have international partners. In the front row is Greece, followed by others countries [naturalgaseurope.com]

» April 13 2015 - #ShaleGas, #France. [by naturalgaseurope.com] Buried Report: Shale Gas Not Safe for Hollande's Political Health. The revelations made by The Figaro, France's main conservative daily paper, that the government buried its own report underlining the benefits of shale gas for the economy in a much safer way than the controversial fracking technique raise questions. Critics say François Hollande is more concerned about his re-election prospects and protecting his leftist allies than make people back to work [naturalgaseurope.com]

» April 13 2015 - #CO2Emissions, #US, #UK, #Germany. [by carbonbrief.org] Climate showdown: Has the US, UK or Germany done more to cut emissions? The UK and Germany like to think of themselves as climate leaders. But how does their progress in cutting carbon stack up against the US, which has famously failed to pass climate laws? Over the past two weeks the results came in, with each country publishing carbon dioxide emissions figures for 2014. Carbon Brief slices up the data to find out who's winning the climate showdown [...] The UK, US and Germany all published official carbon dioxide emissions estimates for 2014 at the end of March. [...] UK [data] showed a 9.7% drop in carbon emissions compared to 2013. The US data shows 2014 carbon emissions increased by 1% compared to a year earlier, while Germany's fell by 4.8%. So, the UK recorded the largest percentage drop in emissions last year. But that's only a single year, hardly a fair comparison. The chart below compares the path of each country's carbon emissions over the past quarter century [carbonbrief.org]

» April 13 2015 - #Oil, #NaturalGas, #Fracking. [by bloomberg.com] Big Oil Pressured Scientists Over Fracking Wastewater's Link to Quakes. Energy firms tried to slow science inquiries blaming them for earthquakes in Oklahoma [bloomberg.com]

» April 13 2015 - #RenewableEnergy, #PV, #WindEnergy. [by ensia] Look what's cooking in the world of renewable energy. The solar and wind innovations that got us where we are today - and those waiting in the wings - point to a hopeful future [...] Solar Surprise In January 2015, Saudi Arabian company ACWA Power surprised industry analysts when it won a bid to build a 200-megawatt solar power plant in Dubai that will be able to produce electricity for 6 cents per kilowatt-hour. The price was less than the cost of electricity from natural gas or coal power plants, a first for a solar installation. Electricity from new natural gas and coal plants would cost an estimated 6.4 cents and 9.6 cents per kilowatt-hour, respectively, according to the U.S. Energy Information Agency [...] A Matter of Size. While solar power is just starting to reach grid parity, wind energy is already there. In 2014, the average worldwide price of onshore wind energy was the same as electricity from natural gas, according to Bloomberg New Energy Finance. As with solar, the credit goes to technological advances and volume increases. For wind, however, innovation has mainly been a matter of size. From 1981 to 2015 the average length of a wind turbine rotor blade has increased more than sixfold, from 9 meters to 60 meters, as the cost of wind energy has dropped by a factor of 10 [ensia.com]

» April 11 2015 - #Oil, #NaturalGas, #UsUpstream. [by ogj] US rig count falls under 1,000 for first time since 2009. After noticeably slowed declines over the previous 2 weeks, the US drilling rig count fell 40 units to 988 rigs working during the week ended Apr. 10, settling under 1,000 for the first time since Sept. 11, 2009, according to data from Baker Hughes Inc. Forty-one units went offline during the previous 2 weeks. The count has fallen in 18 consecutive weeks, during which time it has plunged 932 units. The total of 988 is the lowest since Aug. 21, 2009, and 843 fewer units compared with this week a year ago. The average US rig count for March was 1,110, down 238 from February's average, and down 693 from the average in March 2014. During the week, virtually all of the declines in the US comprised land-based oil rigs. Land rigs and oil rigs plunged 42 units each to respective totals of 951 and 760. Offshore rigs ended its weeks-long losing streak with a 2-unit gain to 33. Gas rigs gained 3 units to 225. Rigs drilling in inland waters were unchanged at 4. Rigs engaged in horizontal drilling plunged 29 units to 770. Since Nov. 21, 602 horizontal units have gone offline. Rigs drilling directionally dropped 3 units to 90 [ogj.com]

» April 11 2015 - #Oil, #NaturalGas, #UsUpstream. [by ogj] US rig count falls under 1,000 for first time since 2009. After noticeably slowed declines over the previous 2 weeks, the US drilling rig count fell 40 units to 988 rigs working during the week ended Apr. 10, settling under 1,000 for the first time since Sept. 11, 2009, according to data from Baker Hughes Inc. Forty-one units went offline during the previous 2 weeks. The count has fallen in 18 consecutive weeks, during which time it has plunged 932 units. The total of 988 is the lowest since Aug. 21, 2009, and 843 fewer units compared with this week a year ago. The average US rig count for March was 1,110, down 238 from February's average, and down 693 from the average in March 2014. During the week, virtually all of the declines in the US comprised land-based oil rigs. Land rigs and oil rigs plunged 42 units each to respective totals of 951 and 760. Offshore rigs ended its weeks-long losing streak with a 2-unit gain to 33. Gas rigs gained 3 units to 225. Rigs drilling in inland waters were unchanged at 4. Rigs engaged in horizontal drilling plunged 29 units to 770. Since Nov. 21, 602 horizontal units have gone offline. Rigs drilling directionally dropped 3 units to 90 [ogj.com]

» April 10 2015 - #Oil, #NaturalGas, #USOilGasFields, #CrudeOilReserves, #EiaData. [by eia] This supplement to the U.S. Energy Information Administration's (EIA) U.S. Crude Oil and Natural Gas Proved Reserves, 2013 ranks the 100 largest U.S. oil and gas fields by their estimated 2013 proved reserves. EIA defines a field as "an area consisting of a single reservoir or multiple reservoirs all grouped on, or related to, the same individual geological structural feature and/or stratigraphic condition. There may be two or more reservoirs in a field that are separated vertically by intervening impervious strata or laterally by local geologic barriers, or by both." This definition is not used by all states in their designation of fields; consequently, areas classified as individual fields by some states may be found combined in these tables or in the EIA Field Code Master List [eia.gov]

» April 10 2015 - #ClimateChange, #ClimatePolicies, #ParisClimateTalks. [by energypost] Why the Paris climate talks won't be another Copenhagen. Nick Rowley of the University of Sydney, who was closely involved in the failed Copenhagen Climate Summit in 2009, presents five reasons to be optimistic about the outcome of the upcoming Paris talks. Many countries now see a climate agreement as more than an end in itself, he notes. They regard it as a vital means to address other challenges as well. And he notes that the cast of characters in Paris looks much better than in Copenhagen [energypost.eu]

» April 10 2015 - #OilPrices, #NaturalGas. [by pacificenergydevelopment] How Will Low Oil Prices Affect Natural Gas. Media coverage of energy has focused heavily on oil prices, lately, for understandable reasons. Oil's dramatic plunge and subsequent volatility would be newsworthy, even if petroleum weren't still our leading source of energy, especially for transportation. In this context, the dog that hasn't barked is natural gas, although oil and gas are still linked by common drilling hardware and often produced from the same wells. With oil drilling being curtailed in response to low oil prices, should we be concerned about natural gas supplies in the months and years ahead? At first glance the answer ought to be a straightforward "no." As most people now know, US drillers figured out how to tap the country's vast shale gas resources economically. US gas production is at record levels, after rising steadily since 2006 and surpassing former top producer Russia around 2009. US natural gas inventories were severely depleted following last year's "Polar Vortex" winter, but output grew fast enough to keep the benchmark price of gas below $4 per million BTUs this winter, despite below-average temperatures east of the Mississippi. However, in assessing gas supply under low oil prices we must factor in the industry's response to the natural gas price collapse in 2008. The prices of oil and gas both dropped precipitously during the financial crisis, but gas didn't recover to the same extent as oil. In 2007 the average spot price of natural gas on an energy equivalent basis was just over half that of West Texas Intermediate crude (WTI). By 2010 gas was worth only a third as much as oil, and by 2012 just 17%--the equivalent of $16 per barrel in a world of $100 oil. Drillers responded accordingly [pacificenergydevelopment.com]

» April 10 2015 - #Oil, #Gas, #US, #EIA. [by ogj] EIA: US held spot as worl's largest producer of petroleum, gas in 2014. US production volumes of petroleum and natural gas remained tops in the world in 2014, exceeding that of both Russia and Saudi Arabia, according to estimates from the US Energy Information Administration. EIA specifies that its petroleum production figures encompass crude oil, natural gas liquids, condensates, refinery processing gain, and other liquids such as biofuels. Despite the 50% decline in crude oil prices that occurred in the second half of last year, US petroleum production still increased 3 quadrillion btu (quads)-1.6 million b/d-in 2014. US petroleum production since 2008 has increased more than 11 quads, spurred by dramatic growth in Texas and North Dakota. US gas production increased 5 quads-13.9 bcfd-over the past 5 years. Combined hydrocarbon output in Russia increased 3 quads and in Saudi Arabia 4 quads over the past 5 years [ogj.com]

» April 9 2015 - #EnergyPolicy, #ClimatePolicy, #China, #CsisLiveEvent. [by csis] Energy Sector and Climate Reforms in China. Two major political goals are animating change in China's energy sector: the goal of peaking carbon dioxide emissions on or before 2030 as part of China's international climate commitment and the drive for energy market and pricing reform. Yet energy sector reform and climate policy in China are operating on two separate tracks. This event will explore changes to China's energy sector from the perspective of both energy market reform and climate policy, examining what action China will need to take to meet its climate targets in the electricity sector and in the broader energy market. Finally, the discussion will place these two issues in the broader context of Chinese politics and domestic economic reforms: Tuesday, Apr 14, 2015, 9:30 am - 11:00 am [csis.org]

» April 9 2015 - #Oil, #OilMajors, #Shell. [by ogj.com] Royal Dutch Shell PLC has agreed to acquire BG Group PLC in a $70.1-billion cash and shares deal intended to sharpen Shell's focus on integrated gas projects and deep water. If the transaction is approved by shareholders and completed, existing BG shareholders will own about 19% of Shell. Shell said the acquisition would increase its proved oil and gas reserves by about 25% and its production by 20%. In its 2014 annual report, BG estimated its natural gas reserves at 11.55 tcf proved, 5.8 tcf proved and developed, and 9.25 tcf probable under the Society of Petroleum Engineers assessment method. It estimated oil reserves at 1.69 billion bbl proved, 537 million bbl proved and developed, and 1.37 billion bbl probable. BG in 2014 produced 606,000 boe/d of oil and gas in Australia, Bolivia, Brazil, Egypt, India, Kazakhstan, Norway, Thailand, Trinidad and Tobago, Tunisia, the UK, and the US. Of $9.4 billion in capital investment by BG last year, $6.3 billion was in Australia and Brazil [ogj.com]

» April 9 2015 - #EnergyEfficiencyPolicy, #EU, #EnspolReport. [by enspol.eu] Energy Saving Policies and Energy Efficiency Obligation Scheme. Directive 2012/27/EU, are the Energy Efficiency Directive EED, requires each Member States to apply an energy efficiency obligation scheme (EEOs) or alternative policy measures that would deliver a certain amount of end-use energy savings over the 2014-2020 obligation period. The ENSPOL project’s main aim is to support member states who intend to set up new EEO schemes. Starting from experiences of existing obligation schemes is one corner stone to reach this objective. Therefore, this deliverable describes and analyses the existing EEO schemes in the European Union: Flanders (Belgium), France, United Kingdom, Denmark, Poland and Italy. Based on the results and the lessons learned, member states opting for EEOs can further improve the design of their new EEO in order to be more effective in reaching the energy efficiency objectives [enspol.eu]

» April 8 2015 - #FossilFuel, #Subsidies, #PolicyResearchWorkingPaper, #WorldBank. [by worldbank] Fossil Fuel Subsidies: Approaches and Valuation. Numbers ranging from half a trillion to two trillion dollars have been cited in recent years for global subsidies for fossil fuels. How are these figures calculated and why are they so different? The most commonly used methods for measuring subsidies are the price-gap approach-quantifying the gap between free-market reference prices and the prices charged to consumers-and the inventory approach, which constructs an inventory of government actions benefiting production and consumption of fossil fuels. Practitioners are not faced with two choices. The two methods are complementary and should be used together-price gaps cause distortions throughout the economy and quantification is needed for improving pricing policies; an inventory is useful for examining budgetary allocation. An inventory based on a full accounting framework for producer and consumer support estimates in fact captures price gaps as market transfers to producers or consumers. Differences in subsidy valuation arise from assumptions made to compensate for missing data and the scope of subsidy measurement. Having a common understanding of terms and standardizing calculation methods would go a long way in enabling comparison of subsidies across countries and sectors, benchmarking pricing, and assessing subsidy policies. Subsidy measurement should not be viewed as a one-off exercise to inform subsidy reform strategies. Just as subsidy reform in many countries does not have a clear end but is a continuous process of adjustment, so too is subsidy tracking. Devoting resources to data collection and analysis to track subsidies on a continuous basis can bring rich dividends by increasing transparency and enabling informed decisions [earthtrack.net]

» April 8 2015 - #RenewableEnergy, #UAE, #IrenaReport. [by irena] Solar and wind may now be the cheapest sources of new energy supply in the United Arab Emirates, according to a report released today by the UAE Ministry of Foreign Affairs, International Renewable Energy Agency (IRENA), and Masdar Institute of Science and Technology. Marking the country's first public comparison of different energy technology costs and potentials, the Renewable Energy Prospects: United Arab Emirates report finds the UAE could achieve a 10 per cent share of renewable energy in its total energy supply - and almost 25 per cent in the power sector - resulting in energy system savings of USD 1.9 billion (AED 7 billion) annually by 2030 [...] The report cites sharp declines in renewable energy costs in the UAE, as well as rising costs for natural gas as domestic production declines and the country turns to more expensive imported sources, as the key drivers for renewable energy's financial attractiveness. Solar PV costs, for instance, have fallen by 80 per cent since 2008, while the cost of new gas supplies in the UAE has grown from under $2.5/MMBtu in 2010 to $6-8/MMBtu for domestic production and $10-18/MMBtu for imports today, even after the recent decline of oil and LNG prices. The report estimates that solar, wind, and waste-to-energy are preferable for power generation when new gas is above $8/MMBtu – making them immediately competitive in the UAE, where natural gas supplies almost 100 per cent of power [irena.org]

» April 8 2015 - #NuclearEnergy, #Argentina, #Bolivia. [by world-nuclear-news] Argentina, Bolivia sign agreement to develop nuclear energy. Argentina and Bolivia have signed a cooperation agreement to promote and develop infrastructure and institutions for the peaceful use of nuclear energy [...] Argentina's support will include the design, construction and operation of nuclear power plants and research reactors, as well as radioactive waste management. Cooperation would also involve research into the use of radioisotopes in medicine and agriculture. In October last year, Bolivian president Evo Morales said the country would invest more than $2 billion in the development of nuclear energy over the next decade [world-nuclear-news.org]

» April 7 2015 - #ClimateChange, #EmissionsReductionPledge, #IntendedNationallyDeterminedContributions. [by wri] "Ambitious and achievable" is how the White House described its formal emissions reduction pledge-a cut of 26 to 28 percent from 2005 levels by 2025-to the United Nations Framework Convention on Climate Change (UNFCCC) in preparation for negotiation of a binding climate agreement in Paris in December. Opinion about the aptness of the two adjectives was, predictably, mixed. The U.S. pledge follows on the heels of a U.S. agreement to form a joint task force on climate policy co-operation with Mexico, which has become the first developing nation to formally announce its greenhouse gas emissions reductions ahead of Paris-25 percent by 2030. The only other countries to meet an informal March 31 deadline to declare formal plans to the UNFCCC for voluntary greenhouse gas emissions cuts-so-called intended nationally determined contributions (INDCs)-were the 28-nation European Union, Switzerland, Norway, and, at the midnight hour, Russia, which said it would cut its emissions by as [wri.org]

» April 7 2015 - #EnergyInfrastructure, #ClimateChange, #CsisLive. [by csis] Sustainable Resilient Energy Infrastructure. Natural disasters, resource constraints and new patterns of urbanization and development require companies and governments to plan for energy and other related infrastructure to be both resilient and sustainable. Panelists will address strategies for deploying sustainable resilient infrastructure in a variety of locations around the world, from the pre-existing well-built environments to infrastructure deficient regions, with a focus on highly urbanized communities. Watch live [csis.org]

» April 7 2015 - #ClimateChange, #GlobalWarming, #CO2Emissions, #US, #NatureClimateChange, #ClimateOpinionMaps, #Yale, UtahStateUniversity. [by nyt] the Yale analysts, with partners at Utah State University, have built an illuminating set of maps of American attitudes - right down to the congressional district - on a variety of important questions related to global warming and options for addressing it, including regulating carbon dioxide as a pollutant and boosting government spending on research to improve renewable energy technologies. The background science is being published online today in Nature Climate Change. Here are three mapped data sets (at the state level) that illustrate a vitally important point, to my mind: Estimated % of adults who think global warming is happening; Estimated % of adults who support regulating CO2 as a pollutant; Estimated % of adults who support funding research into renewable energy sources; Estimated % of adults who support a carbon tax if revenues are refunded to every American household [...] No Red and Blue Divide [dotearth.blogs.nytimes.com]

» April 7 2015 - #OilPolicy, #China, #OffshoreResources, #Geopolitics. [by jrwpolicy.com] China's Quest for Asia-Pacific Energy Resources Driven by Overall Growth in Energy Demand Fossil fuels are the lifeblood of China's economy. Affordable, reliable sources of crude oil enable China's transportation sector to grow and thrive. Natural gas is becoming a cornerstone to China's electric power capacity and an alternative transportation fuel. China's remarkable economic growth over the past three decades is matched by an insatiable thirst for oil. China's 2013 oil consumption of 459 mmt exceeded domestic production by 239 mmt. China's average annual growth in crude oil consumption has been 7.4% over the past ten years. In the ten year period 2001 to 2011, Chinese oil consumption more than doubled from 4.859 billion barrels to 9.758 billion barrels. 58% of China's 2013 crude oil demand was met by imports. By 2020, the CNPC Economic and Technology Research Institute projects that 65% of Chinese crude oil supplies will be imported. 42% of China's imports come from the Persian Gulf region. Natural gas is quickly emerging as a primary alternative fuel in China for electric power generation and transportation. 30% of China's 2013 natural gas consumption was imported.6 Demand growth for natural gas is expected to climb. The Institute of Energy Economics of Japan's projection, through the year 2040, forecasts a steep 42% rise in China's natural gas consumption from 2011. Oil security for China means the assurance of sufficient oil at affordable prices. The fact that most of China's oil requirements must be met by sources outside of China is a simple realty of geography, geology and demand. Given that domestic supplies are insufficient to meet China's energy needs, China's oil security policy is based on the broad goals of supply availability, affordability, reliability and diversity. China's exploitation of East China Sea and South China Sea resources is consistent with those goals [jrwpolicy.com]

» April 6 2015 - #OilPolicy, SaudiArabia, #Iran, #Israel, #Geopolitics. [by therealnews] Saudi Arabia's policy on oil, especially recently in the context of the OPEC meetings, it became very clear that they wanted to maintain their market share regardless of the price of oil, and they kept pouring oil into markets, without any kind of anticipation of how this is going to affect the price. Saudi Arabia, in a way, is luckier than other oil-producing countries in the region. For example, Iran and Venezuela. Because they have a lot of reserves of cash, and they have accumulated over the past years, and therefore they could maintain their sort of income, at least in the short term. But in the long term, there is a problem. And in a way, we talk about the Sunni-Shiite rivalry, Saudi Arabia and Iran, as if this is only a conflict that could be explained only in terms of ideological factors. But there is, the bottom line, is also a conflict about oil. Saudi Arabia wants to make sure that it remains the main producer in the Arab world, and it is at the moment. But it does not want to see neither Iraqi oil nor Iranian oil coming to the market. And in that context of reaching an agreement over Iran's nuclear program, in the discussion between the United States and the P5+1, Saudi Arabia is worried about lifting the sanctions on Iran, which means that there is more oil from Iran coming to the market. It will depress probably the prices even more, but Saudi Arabia's determined to make that difficult, and it keeps pouring oil. At the same time, it didn't anticipate the low demand [...] Talking about any kind of Israeli-Saudi relationship is taboo in Saudi Arabia. Saudi Arabia maintains that it is going to liberate the occupied territories, and it takes Jerusalem as a symbolic city for all Muslims. Very much like Iran does, and they both use this issue. But since the Arab uprising in 2011, we don't hear anybody talking about the Israeli-Palestinian conflict or trying to push for a solution. Saudi Arabia identified its enemy first as Iran, then the Islamists, especially the ones who won elections in Tunisia and Egypt, and it passed anti-terrorism laws to criminalize those. And therefore, the Palestinian issue had been put on the shelf, as far as the Saudi leadership is concerned, and in fact most of the Arab region. Of course, this is a situation that is beneficial to Israel, because it could actually keep then no solution as the solution [therealnews.com]

» April 6 2015 - #ShaleGas, ProductionPeak, #MarcellusShale, #US. [by oil and gas investments bullettin] One of the little spoken truths of the shale gas industry over the past three years has been that most of America's gas fields are now experiencing production declines with one large exception: the Marcellus Shale in Pennsylvania. And that narrow reliance on one play gets even more concentrated-the North American natural gas market has morphed from relying on the entire Marcellus to provide all of the continent’s production growth a year ago-to now hoping that growth in select Pennsylvania counties will sustain current trends. Unfortunately, in addition to production declines in West Virginia, Pennsylvania Marcellus production is now in decline in two of its three most prolific counties. According to 2H 2014 production data from the PA DNR, Bradford and Lycoming Counties, which produced a combined 3.6 bcf/d in 2H 2014, experienced production declines of 3 and 5 percent respectively. A flattening of Marcellus production will send shockwaves throughout the North American natural gas market. With US production at approximately 70 bcf/d of which ~58 bcf/d is production from outside of the Marcellus, US production could experience a net decline of 6 bcf/d over the next 12 to 18 months should growth in the Marcellus not pick up and natural declines continue. Based on state production data in recent months it is easy to see Texas decline 2 bcf/d, Louisiana drop 1 bcf/d with Wyoming, Colorado and New Mexico each experiencing declines of .5 bcf/d over the next 12 to 18 months. Another 1.5 bcf/d of aggregate declines can be expected from states such Oklahoma, Kansas, Utah, North Dakota, Montana, California and the Gulf of Mexico where drilling activity is down approximately 40 percent compared to year ago levels [oil and gas investments bullettin]

» April 6 2015 - #GlobalEnergyGovernance, #EnergyTransit, #EnergyCharterConference, #WTO, #NAFTA, #ASEAN, #EU, #UnuCrisWorkingPaper. [by unu-cris] The ambiguities surrounding allusions often made to global energy governance, focusing mainly on the question of energy transit. They discuss how the issue has been sanctioned in various regimes in international law (including the UN Convention on the Law of the Seas, the Energy Charter Treaty and Article V of the General Agreement on Tariffs and Trade). They go further to expatiate on the complexities of this governance regime that is rendered even more convoluted by regional energy transit provisions included in important regional treaties such as those of the North American Free Trade Agreement (NAFTA), the Association of Southeast Asian Nations and the European Union (EU) [papers.ssrn.com]

» April 4 2015 - #NaturalGas, #EU, #Ukraine, #Russia, #Geopolitics. [by abo] Ukraine announces a new agreement for buying Russian gas. The agreement extends the conditions of the "winter package" between the companies Naftogaz and Gazprom. Ukraine's Energy Minister, Volodymyr Demchyshyn, emphasized that the new agreement provides "a reasonable market price from an economic point of view" [abo.net]

» April 3 2015 - #Oil, #OilRevenues, #Opec, #SaudiArabia, #EiaData. [by eia] For 2014, the U.S. Energy Information Administration (EIA) estimates that, excluding Iran, members of the Organization of the Petroleum Exporting Countries (OPEC) earned about $730 billion in net oil export revenues (unadjusted for inflation). This represents an 11% decline from the $824 billion earned in 2013, largely because of the decline in average annual crude oil prices, and to a lesser extent from decreases in the amount of OPEC net oil exports. This was the lowest earnings for the group since 2010. These net export earnings do not include Iran's revenues because of the difficulties associated with estimating Iran's earnings, including the country's inability to receive payments and possible price discounts Iran offers its existing customers. Saudi Arabia earned the largest share of these earnings, $246 billion in 2014, representing approximately one-third of total OPEC oil revenues. For 2015, EIA projects that OPEC net oil export revenues (excluding Iran) could fall further to about $380 billion in 2015 (unadjusted for inflation) as a result of the much lower annual crude oil prices expected in 2015. EIA expects that OPEC's crude oil production and exports (as a whole) in 2015 will be unchanged from 2014 levels, following OPEC's decision on November 27 to not change its production targets from previous levels [eia.gov]

» April 3 2015 - #RenewableEnergy, #PV, #GTMResearch. [by greentechmedia.com] According to the new report, SolarCity installed 34% of all U.S. residential solar in 2014, followed by 13% from second-place Vivint Solar. While the top ten installers gained share in 2014, the rest of the pack grew 13% on an absolute basis [greentechmedia.com]

» April 3 2015 - #ClimateChange, #GreenHouseGas, #IEA, #AnnualReview. [by IEA] The 2014 Annual Review from the IEA Greenhouse Gas R&D initiative outlines the work undertaken and produced including the conferences, networks, technical reports, information papers and presentations [iea.org]

» April 3 2015 - #NuclearDeal, #OilMarkets, #Geopolitics. [by WSJ] How Iranian Nuclear Deal Would Affect Oil Markets. The framework nuclear deal between Iran and six global powers on Thursday boosts the odds for the lifting of curbs on Tehran's oil exports, but it doesn't throw open the floodgates of Iranian crude supply just yet. Any ramp up in Iranian oil exports depends on a final nuclear deal in June, a subsequent lifting of sanctions and the pace of recovery in Iran's investment-starved oil sector. Oil prices fell after the framework deal was announced, with Brent crude losing 3.7% in the last trading session, but consulting firm Eurasia Group said the drop in the oil price will likely wash out when harsh debate over the agreement begins next week [wsj.com]

» April 3 2015 - #CleanEnergy, #ChangingEnergyTechnologies, #Arpa-e. [by scientificamerican.com] A Historical Tour of the Clean Energy Future. ARPA-E started in 2009 with a budget of $400 million, about one third of what its intellectual predecessor, the Defense Advanced Research Projects Agency (DARPA) got for its start in 1962. With ambitions to instigate a second industrial revolution, the agency received proposals for some 3,700 would-be world-changing energy technologies and handed out $151 million to 37 of them, ranging from turning water and CO2 into fuel with nothing but sunlight to better batteries. The largest single award, for $9.1 million, went to Foro Energy to help develop laser drilling that could make it cheaper to tap Earth's heat to generate electricity. ARPA-E's offices within the U.S. Department of Energy (DoE) are meant to feel more like a Silicon Valley start-up than a part of a sclerotic bureaucracy tasked primarily with minding nuclear weapons and their legacy. ARPA-E staff, including directors, serve three-year terms. The short time frame is meant to inspire the "fierce urgency of now," a quotation from Martin Luther King, Jr. that hangs on the wall of DoE HQ, a concrete block building on stilts with row after row of box windows. The plan was to be a government agency that did not fear risk-a bureaucracy without bureaucrats [scientificamerican.com]

» April 2 2015 - #EnergyPolicy, #EU, #EnergyUnion. [by energypost] The European Commission has announced a plan to amend the EU Treaties to make regions, not national governments, responsible for decisions over the so-called "energy mix", or what energy is produced where. The idea is that regions will become the dominant decision-makers over energy policy in Europe in future. They will set regional renewables and energy efficiency targets, cooperate on infrastructure development, and most importantly, decide jointly on whether and how much energy is produced from coal, gas, oil, nuclear, biofuels, wind, solar etc. [energypost.eu]

» April 2 2015 - #OilExports, #US, #CsisWebinar. [by csis] U.S. Refining and Crude Oil Exports: An Update. The latest developments in the crude oil export debate as well as the role of refining (both domestic and globally) in finding an economically viable home for US light oil production: Apr 2, 2015 | 9:00 am - 12:00 pm [csis.org]

» April 2 2015 - #ClimateChange, #ClimateEconomics, #EmissionTrading, #CO2, #Geopolitics, ThomsonReutersReport. [by thomsonreuters.com] CO2 - Ten Years of Emission Trading: Does It Work? Buying and selling emission rights continues to be seen as a controversial instrument for cutting CO2 emissions. Some argue that it doesn't work. Some accuse it of being equivalent to the indulgences of the Catholic Church of old, whereby Western governments and companies buy remission for their sins - only to go on polluting as before. The opposite is also heard: that developing countries use it as a ploy to draw investments to industry and infrastructure projects by feigning a positive effect on the global climate. If these allegations are true, how is it possible that emission trading is still around and even expanding? The simple answer is twofold: Some once-important markets have seen volumes and prices dropping to a point at which their future existence seems doubtful. For the markets that do thrive, we shall argue that the allegations are not true [thomsonreuters.com]

» April 1 2015 - #OilCrash, #SaudiArabiaProduction, #Opec, #US, #Geopolitics . [by o&gj] With Saudi Arabia reluctant to cut production, crude oil prices over the next decade depend greatly on producers' costs, says a veteran observer of oil markets and the Middle East. An oil-price rise to $80-90/bbl in the next couple of years requires a production cut unlikely to be made by Saudi Arabia, says Fereidun Fesharaki, chairman of Facts Global Energy (FGE), London. Without a Saudi cut, Fesharaki writes in a March report, "prices can lag at $40-60/bbl for some time to come." Lower growth in oil production in the US, he adds, will not support prices on its own. According to Fesharaki, Saudi Arabia "had no choice" when under pressure last year to cut production in defense of the crude price while supply was zooming in the US. Before agreeing to cut output, he believes, the Saudis need to see growth in US oil production fall to no more than 200,000 b/d in 2016 and Iraq accept "real quotas." Both conditions are steep. US production growth last year was 1.5 million b/d and this year will be about 1 million b/d. And Iraq, which will be producing nearly 4 million b/d by yearend, remains "absolutely reluctant" to accept a quota. [...] The market needs to shed 3-3.5 million b/d of current and future oil production to allow the crude price to exceed $80/bbl in the next year or two, he says. This could occur if Saudi Arabia lowered production to 8 million b/d, if US production growth fell by 500,000-800,000 b/d, and if Iraq accepted a quota not exceeding 3.5-4 million b/d. Other OPEC members also would have to cut production, and Russia is likely to lose 300,000-500,000 b/d of production because of low oil prices and sanctions [...] Fesharaki outlines one scenario in which crude prices fluctuate within a range of $50-80/bbl for the next 10 years. This assumes producers, especially in the US, don't cut costs dramatically. If costs do plummet, the price range for the next 10 years will drop to $40-60/bbl as US production continues to grow faster than 500,000 b/d/year in 2016 and 2017 [ogj.com]

» March 31 2015 - #RenewableInvestments, #RenewableEnergy, #FrankfurtSchoolUNEPCentreBNEFReport . [by unep.org] Global investments in renewable energy rebounded strongly last year, registering a solid 17% increase after two years of declines and brushing aside the challenge from sharply lower crude oil prices. Major expansion of solar installations in China and Japan and record investments in offshore wind projects in Europe helped propel global 2014 investments to $270 billion, a 17% surge from the 2013 figure of $232 billion. It was the first annual increase in dollars invested in and committed to renewables (excluding large hydro-electric projects) in three years, a total just 3% below the all-time record of $279 billion set in 2011. The falls in the investment figures for 2012 (to $256 billion) and 2013 (to $232 billion) were attributed in part to lower prices for renewable energy technologies due to economies of scale. The 103Gw of generating capacity added around the world made 2014 the best year ever for newly installed capacity, according to the UNEP's 9th annual "Global Trends in Renewable Energy Investments" report, prepared by the Frankfurt School-UNEP Centre, and Bloomberg New Energy Finance [...] Over $2 trillion invested in renewables since 2004. The 2014 global investment of $270 billion in renewables followed investments of $232 billion (2013), $256 billion (2012), $279 billion (2011), $237 billion (2010), $178 billion (2009), $182 billion (2008), $154 billion (2007), $112 billion (2006), $73 billion (2005) and $45 billion (2004) - an 11-year total of $2.02 trillion (unadjusted for inflation) [unep.org]

» March 31 2015 - #NuclearNegotiations, #Iran, #Geopolitics, #BelferCenterForum. [by belfercenter] The Iran Nuclear Negotiations: A Good Deal or a Bad Deal? Belfer Center for Science and International Affairs, Harvard Kennedy School Forum Event, 6:00 p.m. (Easter Standard Time), live stream [ogj.com]

» March 31 2015 - #OilCrash, #OGJvideo. [by O&GJ] Elements of the Oil Price Crash. This important interview of NGP Energy Capital's CEO Kenneth Hersh, covers the elements behind the oil price crash over the last six months including market fundamentals, geopolitical contributions and dollar value considerations [ogj.com]

» March 31 2015 - #ClimateChange, #LowCarbonEconomy, #BusinessClimateAction, #ParisCop. [by wwf] With the expectations of reaching an ambitious climate agreement by the end of this year, all the reflectors are on Paris, on the process to reach such an ambitious agreement and on the commitments that countries have started to put on the table. Despite not having an official voice in the process, it is undeniable that businesses have played and will continue to play a significant role in shaping the level of ambition of the individual country commitments and, ultimately, of the international climate agreement. The pre-2020 question. In recognition of this, a number of progressive businesses are stepping forward in support of an ambitious climate agreement and encouraging other companies to do their part. While the constructive engagement of businesses is an important element in reaching an ambitious climate agreement, it is equally important, if not more, to mobilize businesses to ensure that they also do their part in reducing greenhouse gas emissions and transitioning towards a low-carbon economy. While a lot of the political momentum is being invested in actions that countries will take in the period comprised between 2020 and 2030, we still need to ensure that emissions peak within this decade and rapidly decline thereafter in order to keep good chances of keeping global warming well below 2C compared to pre-industrial temperatures [climate-energy.blogs.panda.org]

» March 31 2015 - #OilExports, #US, #CsisWebinar. [by csis] U.S. Refining and Crude Oil Exports: An Update. The latest developments in the crude oil export debate as well as the role of refining (both domestic and globally) in finding an economically viable home for US light oil production. As debates heat up over domestic policy choices affecting both the upstream and downstream sectors, the need for informed (and perhaps more detailed) discussion has become increasingly important. This conference seeks to both inform and supplement the debate on two issues that will have a large impact on the future domestic U.S. energy landscape as well as global investment going forward. The Refining panel will provide a primer on the U.S. refining sector, addressing refinery configurations, operations and economics; the ability of the domestic and global refining system to accommodate additional light oil production and some of the implications of investment choices and oil flows in the near and medium terms [csis.org]

» March 30 2015 - #EnergySystem, #EU, #WebinarPodcast. [by energypost.eu] Catch 2030 the webinar: a debate on the European energy system of the future. How can we transform the European energy system while improving security of supply and competitiveness? In a webinar hosted by Energy Post and sponsored by EDF, four energy experts discuss the future of the European energy system and answer questions from listeners. To watch the full webcast [energypost.eu]

» March 30 2015 - #OilPrice, #ChinaEconomy, #GlobalRecession. [by oilprice.com] Low Oil Prices Stimulate Chinese Growth, Prevent Global Recession. Two of the factors in the oil price crash are well constrained: 1) oversupply of expensive light tight oil (LTO) in North America and 2) the decision of OPEC to not cut production. The third possible factor of weak global demand is not so easy to constrain but the current oil price crash bears many of the same hallmarks as the 2008 finance crash. This has led to speculation that weak global demand, stemming from masked economic woes, may also be playing a key role [...] a clear story of a major economic slowdown in China. This most certainly will be implicated in the ongoing oil price weakness. The $10,000 question is will China make a cyclical rebound like it has done in the past? [oilprice.com]

» March 28 2015 - #RenewableEnergies, #Energiewende, #Germany. [by bmwi-energiewende.de] Cost-effective, plannable and market-focused: the 2014 EEG reform. The Renewable Energy Sources Act (EEG) has put wind power, biomass and photovoltaics in Germany on the path to success. The reform of the Act aims to substantially slow any further rise in costs, to systematically steer the expansion of renewable energy, and to bring renewable energy more and more to the market - while at the same time distributing the financial burdens more equitably [bmwi-energiewende.de]

» March 27 2015 - #Oil, #Gas, #Mediterranean, #Offshore, #OMC2015Conference, #Geopolitics. [by AbO.it] Ravenna, Offshore's capital in the Mediterranean. "Focus on Change: Planning the next 20 years. Diversifying Choices, Increasing Opportunities", 12th edition of the Offshore Mediterranean Conference and Exhibition - OMC 2015. To discuss the industry's future, representatives of hundreds of oil companies from Europe, North Africa, the Middle East and America will be in Ravenna, together with thousands of technicians and experts, taking part in 33 technical sessions. Two other issues are on the agenda for the event: "Enhanced Oil Recovery (EOR)" with a workshop on technologies that allow more oil to be recovered from oilfields, and regulatory, legal and technological issues of offshore exploratory activities in Italy, Cyprus and Croatia, to be analyzed during the special session "Five years after Macondo". Agenda and articles [abo-omc2015.net]

» March 27 2015 - #OilGas, #Steel, #Iran, #Geopolitics. [by irna.ir] Oil and gas and their derivatives constitute the lifeline of Iran's economy but the key driver of the country's growth is the steel industry which is growing by leaps and bounds. Iran plans to quadruple steel production to 55 million tons a year by 2025 in the face of sanctions in order to keep pace with its growing economy -- one of the Next Eleven candidates to become the world's largest in the 21th century [bna.com]

» March 27 2015 - #Nuclear, #US, #BnaSummit, #Geopolitics. [by bna.com] The US nuclear industry faces significant uncertainty today - a perfect storm of economic and policy challenges brought on by the unintended consequences of market structure and government policies. These factors threaten to undermine the promise of this reliable source of carbon-free energy, and could have consequences for our energy security [...] Bloomberg New Energy Finance Summit, A Conversation on Nuclear Energy. Industry experts will explore burning industry questions and engage in spirited discussion about the future of nuclear energy. Tuesday, April 14, 2015, 3:00 PM - 4:00 PM [bna.com]

» March 26 2015 - #Oil, #SaudiArabia, #Yemen, #Iran, #Geopolitics. [by reuters.com] Oil prices rallied for a second straight day on Thursday after Saudi Arabia and its Gulf Arab allies began air strikes in Yemen, sparking fears of a bigger Middle East battle that could disrupt world crude supplies. The military operation against Houthi rebels, who have driven the president from Yemen's capital Sanaa, has not affected oil facilities of major Gulf producers. But fears the conflict could spread has stoked concerns about Middle East oil shipments. Saudi rival Iran, which backs the Houthi rebels, denounced the air strikes. Russian President Vladimir Putin, in a phone conversation with his Iranian counterpart, called for an "immediate ceasefire." Pakistan, a Riyadh ally far away from the conflict, promised a "strong response" to any threat to Saudi integrity [reuters.com]

» March 26 2015 - #Nuclear, #NuclearThoriumReactor, #Coal, #China, #Geopolitics. [by Energy Economics and Geopolitics, J. Morales] Chinese scientists urged to develop new thorium nuclear reactors by 2024. The deadline to develop a new design of nuclear power plant has been brought forward by 15 years as the central government tries to reduce the nation's reliance on smog-producing coal-fired power stations. A team of scientists in Shanghai had originally been given 25 years to try to develop the world's first nuclear plant using the radioactive element thorium as fuel rather than uranium, but they have now been told they have 10, the researchers said. "In the past the government was interested in nuclear power because of the energy shortage. Now they are more interested because of smog," said Professor Li Zhong, a scientist working on the project [linkedin.com]

» March 26 2015 - #Oil, #SaudiArabia, #Yemen, #Iran, #Geopolitics. [by stratfor.com] Saudi Arabia and Iran Compete in Yemen. While the al-Houthi movement struggles to manage multiple regional challenges to its north, its rise to power in Yemen is a setback for Saudi Arabia on its southern flank. After the fall of the Yemeni government, Riyadh will have to capitalize on the al-Houthis' need for political and financial support to re-establish its influence in the country. But because Iran is trying to fill that support gap, too, Yemen has become another battleground where the two sectarian rivals will struggle against one another [stratfor.com]

» March 26 2015 - #ClimateChange, #GHGEmissions, #CarbonPricing, #NatureClimateChangePaper. Monitoring, reporting and verifying emission in the climate economy. The monitoring, reporting and verification (MRV) of greenhouse-gas emissions is the cornerstone of carbon pricing and management mechanisms. Here we consider peer-reviewed articles and 'grey literature' related to existing MRV requirements and their costs. A substantial part of the literature is the regulatory texts of the 15 most important carbon pricing and management mechanisms currently implemented. Based on a comparison of key criteria such as the scope, cost, uncertainty and flexibility of procedures, we conclude that conventional wisdom on MRV is not often promoted in existing carbon pricing mechanisms. Quantification of emissions uncertainty and incentives to reduce this uncertainty are usually only partially applied, if at all. Further, the time and resources spent on small sources of emissions would be expected to be limited. Although provisions aiming at an effort proportionate to the amount of emissions at stake - 'materiality' - are widespread, they are largely outweighed by economies of scale: in all schemes, MRV costs per tonne are primarily driven by the size of the source [nature.com]

» March 25 2015 - #Gas, #Pipeline, #TAP, #EU, #Italy. TAP Issues Contract Notice for Italy Onshore Construction. Trans Adriatic Pipeline AG (TAP) invites companies to pre-qualify for the construction of the Pipeline Receiving Terminal (PRT) and the installation of onshore pipeline in Italy [tap-ag.com]

» March 25 2015 - #Nuclear, #Geopolitics. [by oilprice.com] While fear still lingers of a nuclear catastrophe on a similar scale as Fukushima, or earlier accidents such as Three Mile Island or Chernobyl, that hasn't stopped a slew of countries from moving forward on plans to develop nuclear plants as an adjunct to existing power sources like hydro, coal, natural gas and good ol' oil. Especially in developing countries that lack access to fossil fuels, nuclear is seen as a viable and cost-effective form of baseload power. Beyond Iran And Pakistan: 7 Nuclear Wannabes (UAE, Turkey, Lithuania, Poland, Belarus, Vietnam, Bangladesh) [oilprice.com]

» March 25 2015 - #EnergyEfficiency, #SustainableEnergy, #RenewableEnergy, #EnergyEUFinancingProgramme, #Horizon2020. [by ec.europa.eu] Horizon 2020, Energy-efficiency call for proposals builds on the experience of the previous Intelligent Energy Europe Programme. The Energy-efficiency Call supports the implementation of the EU's energy and climate policies. It covers the following areas, including topics covering all sustainable energy fields: Buildings & consumers, Heating & cooling, Industry & products and Finance for sustainable energy. [...] In particular, funding is available for proposals addressing "Finance for sustainable energy". Sustainable energy refers to investments in energy efficiency and renewables [ec.europa.eu]

» March 24 2015 - #OilDemand, #OilProduction, #Economics, #US. [by api] Total U.S. petroleum deliveries (a measure of demand) rose 1.5 percent from February 2014 to average 19.3 million barrels per day. This was the highest February demand since 2008. February gasoline demand edged up 0.1 percent from the prior year to average 8.7 million barrels per day - the highest level for the month since 2009. Demand for jet fuel rose 2.4 percent over the same period to the highest February level since 2008, while deliveries of "other oils" gained 13.0 percent driven by strong demand for propane. Demand for distillate and residual fuel fell by 4.8 percent and 4.3 percent, respectively. At nearly 9.3 million barrels per day, U.S. crude oil production in February increased by 14.5 percent from a year earlier. This was the highest crude oil production level since April 1973. Natural gas liquids (NGL) production, a co-product of natural gas production, set a new all-time high last month by gaining 18.1 percent over the same period to average nearly 3.2 million barrels per day [api.org]

» March 24 2015 - #OilPrice, #Economics, #US, #CsisPodcast. [by csis] Assessing the Economic Impact of U.S. Oil Export Policy in a Low Price Environment. The CSIS Energy and National Security Program hosted Dan Yergin, Kurt Barrow and Rick Bott of IHS. They presented their most recent analysis looking at the oil export question in light of the fall in oil prices and the impact on investment and in terms of the supply chains in the non-oil producing states. The analysis considers 60 separate supply chain industries and provides granular impact analysis to fully understand the economic and job growth impact across the nation. [...] The fall in oil prices in 2014 has triggered new questions about sustainability of production both in the United States and across the globe. The future of U.S. unconventional production in particular has become a focus of intense interest, leading to further debates on U.S. policies. Perhaps the most significant debate in this context is the one surrounding U.S. crude oil exports. How will the ban affect the economics of U.S. production in a low oil price environment? What impact would the lifting of the ban have? [csis.org]

» March 23 2015 - #OilGas, #Tax, #UK. [by offshore-mag] UK budget slashes petroleum revenue tax [...] reduction in the supplementary charge tax (SCT) from 30% to 20%; Reduction in petroleum revenue tax (PRT) from 50% to 35%; Introduction of a basin-wide Investment Allowance, allowing exemption of 62.5% of new investment expenditure from SCT; £20 million ($29.5 million) support for the newly formed Oil and Gas Authority to commission seismic and other surveys on under-explored areas of the UK continental shelf (UKCS) during 2015-2016 [offshore-mag.com]

» March 23 2015 - #ShaleGas, #ShaleOil, #Fracking, #US. [by pennenergy] The Obama administration is requiring companies that drill for oil and natural gas on U.S. government lands to disclose chemicals used in hydraulic fracturing operations. A final rule released Friday also updates requirements for well construction and disposal of water and other fluids used in fracking, a drilling method that has prompted a boom in natural gas production [pennenergy.com]

» March 22 2015 - #Energy, #FossilFuel, #RenewableEnergy, #India. [by worldreview] [...] According to BP's World Energy Outlook, by 2035, India's natural gas imports will rise by 573 per cent, oil imports by 169 per cent, and coal by 85 per cent. India's largest energy source is coal, followed by oil and natural gas which, together, meet almost 92 per cent of the country's total energy needs. The rest comes from hydropower, traditional biomass and waste. Coal is also the main fuel for electricity production, accounting for more than 71 per cent. In 2013, India saw its second largest volumetric increase in coal consumption on record. With an 8.5 per cent share of the world's total consumption, it is the third largest consumer of coal after China (50 per cent) and the US (12 per cent). India has the fifth largest coal reserves in the world (6.8 per cent), after the US, China, Russia and Australia, and is also the world's fifth largest producer (almost 6 per cent), after China (48 per cent), US (13 per cent), Australia (7 per cent) and Indonesia (7 per cent). In 2013, India displaced Norway to become the fifth largest global hydropower producer after China, Canada, Brazil, US and Russia. The monsoon season, however, has a direct correlation with hydropower generation; a drought or weak monsoon season leads to a fall in hydropower generation with the coal power plants balancing the system. Despite the government's effort to diversify its sources of energy mainly by increasing the share of renewables (wind and solar), and its desire to make India the world's largest destination for renewable energy, experts expect the country's energy mix to evolve very slowly over the next 20 years, with fossil fuels accounting for 87 per cent of demand in 2035. The dominance of fossil fuels, in particular coal, is the main culprit behind India's rank as the third largest carbon emitter in the world, after China and US. The country's energy-related emissions are set to more than double by 2040, according to the International Energy Agency (IEA) [worldreview]

» March 20 2015 - #Oil&Gas, #RenewableEnergy, #GreatConvergence, #Statoil, #Norway. [by energypost.eu] Norwegian oil giant Statoil, owned 67% by the Norwegian State, readily acknowledges the need to take drastic measures against climate change. But it nevertheless persists in a strategy aimed at expanding its oil and gas production globally. According to Anders Bjartnes, editor of the website Energi og Klima, the company cannot forever embrace these opposing views, "where verbal concerns go in one direction while strategy and cash go in the opposite direction". Statoil should transform itself from an oil and gas company to a broad provider of energy services, writes Bjartnes in an in-depth strategic analysis that is of relevance to energy companies everywhere [energypost.eu]

» March 20 2015 - #Coal, #Fracking, #US, #China, #Geopolitics. [by oilprice.com] The future for the coal industry is looking "increasingly bleak," according to an investor's note from Macquarie Research. The analysis firm also said that "a wave of bankruptcies" appear to be just over the horizon as coal mining companies deal with mounting debt and a shrinking market. The coal markets have collapsed in spectacular fashion over the last few years due to a perfect storm of factors. U.S. coal producers first had to compete ferociously with shale gas in America's electric power sector as fracking took off about a decade ago. That forced an array of coal plants to shut down as cheap gas washed over the country. Subsequently a regulatory crack down from the federal government - including forthcoming restrictions on greenhouse gases - further dimmed the growth prospects of coal. But U.S. coal producers always had the international market, and exports stepped up in concert with falling domestic consumption. Now the foreign buyers are shrinking as well. China, the one country that the coal industry could count on for ceaseless growth in coal consumption, actually burned 2.9 percent less coal in 2014 than it did the year before [oilprice.com]

» March 19 2015 - #Oil, #Fracking, #SaudiArabia. [by AbO] Saudi Arabia needs more oil and relies on fracking. By April, Saudi Arabia's daily oil production could reach 10 million barrels a day. The Kingdom is advancing on several fronts, by launching a new unit for producing gasoline in Yanbu (on the Red Sea), in addition to the intention to take advantage of US hydraulic fracking specialists for exploiting shale oil and shale gas within its territory [abo.net]

» March 19 2015 - #ClimateChange, #IPCC, #ClimateScientificResearch. [by Belfer center] Harvard Project and Collaborators Examine IPCC, improving the process by which research on climate change is assessed-with a focus on the social sciences (economics, political science, policy studies). Participants discussed potential reforms in the assessments of the Intergovernmental Panel on Climate Change (IPCC) and also the development of assessment processes complementary to the IPCC. The workshop was sponsored by the Harvard Project on Climate Agreements, Fondazione Eni Enrico Mattei (Italy), the Mercator Research Institute on Global Commons and Climate Change (Germany), and the Stanford Environmental and Energy Policy Analysis Center (USA). The Mercator Institute hosted the workshop in Berlin [...] Leaders of three of the sponsoring organizations [...] have prepared a memorandum drawing from the discussions at the workshop [...] The memo describes specific challenges and opportunities facing the IPCC and provides recommendations for improving the IPCC's process of assessing scientific research on climate change [belfercenter.ksg.harvard.edu]

» March 18 2015 - #ClimateChange, #Geoengineering, #ClimatePolicyStrategy. [by nas] National academy of sciences, Climate Intervention Reports. Climate Intervention: Carbon Dioxide Removal and Reliable Sequestration and Climate Intervention: Reflecting Sunlight to Cool Earth. Climate intervention is no substitute for reductions in carbon dioxide emissions and adaptation efforts aimed at reducing the negative consequences of climate change. However, as our planet enters a period of changing climate never before experienced in recorded human history, interest is growing in the potential for deliberate intervention in the climate system to counter climate change. This study assesses the potential impacts, benefits, and costs of two different proposed classes of climate intervention: (1) carbon dioxide removal and (2) albedo modification (reflecting sunlight). Carbon dioxide removal strategies address a key driver of climate change, but research is needed to fully assess if any of these technologies could be appropriate for large-scale deployment. Albedo modification strategies could rapidly cool the planet’s surface but pose envi­ronmental and other risks that are not well understood and therefore should not be deployed at climate-altering scales; more research is needed to determine if albedo modification approaches could be viable in the future [nas-sites.org]

» March 18 2015 - #ClimateChange, #ClimateChangeImpacts, #Migration. [by cmcc] In the coming decades, climate change will expose hundreds of millions of people to its impacts. As shown by the latest research (see the summary in the second volume of the IPCC Fifth Assessment Report on Climate Change (AR5), some parts of the world will be more vulnerable than others to these impacts. Aside from the increase in average temperature and changes in precipitation, many areas will have to deal with extreme weather conditions such as heatwaves, droughts and floods, increasingly becoming the norm. This, in turn, leads to serious implications for water supplies, crops, health, and economic growth. Some areas will be relatively less exposed to these pressures due to their geographic location or ability to respond and adapt better. Given that climate change is and will continue to impact regions in different ways, the migration of individuals and communities from the areas most exposed to climate change impacts needs to be considered. Impacts of climate change and migration [opec.org]

» March 18 2015 - #OilPrice, #WorldEconomy, #WorldOilDemad, #WorldOilSupply, #OpecMonthlyReport. Opec, Monthly Oil Market Report. Crude Oil Price Movements. The OPEC Reference Basket averaged $54.06/b in February, representing a gain of $9.68 or nearly 22% amid a pickup in prompt demand from Europe and Asia and optimism thatil prices may have reached bottom. ICE Brent rose $9.04 to $58.80/b, while Nymex WTI gained $3.40 to stand at $50.72/b. The Brent-WTI spread widened to above $8/b in February. World Economy. World economic growth for 2014 is now seen at 3.3%, up from growth of 3.2% in the previous report. Global economic growth in 2015 remains unchanged at 3.4%. The OECD growth estimate is unchanged at 1.8% for 2014 and 2.2% in 2015. China's growth forecast remains at 7.4% for 2014 and 7.0% for 2015. The growth forecasts for India in 2014 and 2015 have been revised higher to 7.2% and 7.5%, respectively, following large revisions by the country's statistical office. Russia is now expected to see a contraction of 3.2% in 2015, compared to a contraction of 2.4% in the previous report. Brazil's growth in 2015 has also been revised lower to 0.2%, from 0.7% previously. World Oil Demand. The estimate for world oil demand growth in 2014 remains broadly in line with the previous report at 0.96 mb/d. For 2015, global oil demand growth is expected to average 1.17 mb/d, relatively unchanged from the previous month. Almost half of 2015 oil demand growth is projected to come from China and the Middle East. World Oil Supply. Non-OPEC oil supply growth in 2014 is now expected at 2.04 mb/d, following an upward revision of 0.05 mb/d from the last report, mostly due to stronger-than-expected growth in 4Q14. In 2015, non-OPEC oil supply is projected to grow by 0.85 mb/d, unchanged from the previous assessment. OPEC NGLs in 2015 are forecast to grow by 0.19 mb/d. In February, OPEC crude production declined by 0.14 mb/d to 30.02 mb/d, according to secondary sources [opec.org]

» March 17 2015 - #Oil, #Shale, #USProduction. Shale oil production in the United States could potentially stop growing as early as now. The information came out in the EIA's latest Drilling Productivity Report [eia.gov]

» March 17 2015 - #OilSands, #Alberta, #Canada. [by ogj.com] Alberta introduced new requirements to control tailings ponds and regulate water use from the Athabasca River as part of the Canadian province's efforts to reduce oil sands development impacts [...] The Tailings Management Framework focuses on getting tailings ponds remediated faster and slowing tailings ponds growth. Tailings are currently managed through the Alberta Energy Regulator's directive 074, which does not set timelines for the remediation of existing ponds [...] the framework's highlights include limiting the amount of tailings that can be accumulated, pushing companies to invest in technology to remain within those constraints, establishing firm thresholds to identify when companies must take action to prevent environmental harm, and requiring companies to post additional financial security to deal with potential remediation issues through the Conservation and Reclamation Regulation. Oil sands operators also will be required to ensure tailings are progressively treated and reclaimed throughout the project’s life-cycle and are ready-to-reclaim within 10 years of the end-of-mine-life of that project, it indicated [ogj.com]

» March 16 2015 - #OilPrice, #OpecStrategy, #ShaleProduction, #US. [by reuters] U.S. oil output could start to take a hit by late 2015 due to low prices, OPEC said on Monday, suggesting the exporter group will have to wait beyond its next meeting in June to see if its strategy to defend market share will dent the shale oil boom. The halving of oil prices since June 2014 has prompted spending cuts by oil companies and a drop in U.S. drilling, raising expectations of slowing output in countries outside the Organization of the Petroleum Exporting Countries (OPEC). But in a monthly report, OPEC left its forecast for non-OPEC supply this year unchanged and said output of U.S. "tight" oil, also known as shale, might only start to be curbed towards the end of the year [reuters.com]

» March 16 2015 - #ClimateChange, #GlobalEmissions, #CoalPlants, #PowerCompanies, #StrandedAssets, OxfordUniversityReport. [by smithschool, Oxford University] Stranded Assets and Subcritical Coal, new report from Oxford University. The Risk to Companies and Investors [...] Coal provides 40% of the world's electricity [...] of this capacity, 75% is subcritical the least efficient and most polluting form of coal-fired generation [...] We analysed the world's 100 largest SCPS portfolios by total generation capacity - together these account for 66.2% of global subcritical generation. Globally, Chinese and US companies dominate in terms of size, with 7 out of the 10 largest SCPS portfolios being Chinese, and 6 of the largest 20 American. Government-owned companies account for 59 of the world's 100 largest company SCPS portfolios, and over two-thirds of their generation. Among the remaining 41 non-government owned company portfolios, the United States (26), EU (5), and India (3) have the greatest number, whereas China, Indonesia, and South Africa have none. Where governments have a significant stake in SCPS portfolios, it is generally thought that they would be less likely to introduce policies that would directly strand their own assets. However, this view is being contradicted by recent policy tightening in both China and India [smithschool.ox.ac.uk]

» March 16 2015 - #ClimateChange, #Oil. [by TomDispatch] Big Oil's Broken Business Model. The Real Story Behind the Oil Price Collapse. Many reasons have been provided for the dramatic plunge in the price of oil to about $60 per barrel (nearly half of what it was a year ago): slowing demand due to global economic stagnation; overproduction at shale fields in the United States; the decision of the Saudis and other Middle Eastern OPEC producers to maintain output at current levels (presumably to punish higher-cost producers in the U.S. and elsewhere); and the increased value of the dollar relative to other currencies. There is, however, one reason that's not being discussed, and yet it could be the most important of all: the complete collapse of Big Oil's production-maximizing business model [...] In recent years, this output-maximizing strategy had, in turn, generated historic wealth for the giant oil companies. Exxon, the largest U.S.-based oil firm, earned an eye-popping $32.6 billion in 2013 alone, more than any other American company except for Apple. Chevron, the second biggest oil firm, posted earnings of $21.4 billion that same year. State-owned companies like Saudi Aramco and Russia's Rosneft also reaped mammoth profits. How things have changed in a matter of mere months. With demand stagnant and excess production the story of the moment, the very strategy that had generated record-breaking profits has suddenly become hopelessly dysfunctional. To fully appreciate the nature of the energy industry's predicament, it's necessary to go back a decade to 2005, when the production-maximizing strategy was first adopted [tomdispatch.com]

» March 14 2015 - #ClimateChange, #CO2GlobalEmissions, #EconomicGrowthDecoupling, #IEAdata. [by iea] Data from the International Energy Agency (IEA) indicate that global emissions of carbon dioxide from the energy sector stalled in 2014, marking the first time in 40 years in which there was a halt or reduction in emissions of the greenhouse gas that was not tied to an economic downturn [...] Global emissions of carbon dioxide stood at 32.3 billion tonnes in 2014, unchanged from the preceding year. The preliminary IEA data suggest that efforts to mitigate climate change may be having a more pronounced effect on emissions than had previously been thought. The IEA attributes the halt in emissions growth to changing patterns of energy consumption in China and OECD countries. In China, 2014 saw greater generation of electricity from renewable sources, such as hydropower, solar and wind, and less burning of coal. In OECD economies, recent efforts to promote more sustainable growth - including greater energy efficiency and more renewable energy - are producing the desired effect of decoupling economic growth from greenhouse gas emissions [...] In the 40 years in which the IEA has been collecting data on carbon dioxide emissions, there have only been three times in which emissions have stood still or fallen compared to the previous year, and all were associated with global economic weakness: the early 1980's; 1992 and 2009. In 2014, however, the global economy expanded by 3%. More details on the data and analysis will be included in an IEA special report on energy and climate that will be released on 15 June in London. The report will provide decision-makers with analysis of national climate pledges in the context of the recent downturn in fossil fuel prices, suggest pragmatic policy measures to advance climate goals without blunting economic growth, and assess adaptation needs, including in the power sectors of China and India [iea.org]

» March 13 2015 - #OilPrice, #Shale, #OfgjArticle. [by ogfj] The february issue of OGFJ examined the impact of $70/bbl oil prices to the production and investment levels for North American unconventional activity. Since then, the WTI oil price has fluctuated from $60/bbl in December to around $40/bbl in January and back to $50/bbl in February. In the current uncertain environment, price forecasts are hard to estimate, therefore it is important to analyze the sensitivity of investment and production levels at different price levels. Compared to other sources of investments, shale activity is particularly flexible. At lower prices, operators can focus on core areas and decrease rig counts. BHP Billiton, for example, plans to decrease its 2015 onshore US rig count by 40% and drill mainly in its Eagle Ford acreage. This level of flexibility is not available for other types of projects, especially offshore, where project start-up has a long lead time [ogfj.com]

» March 13 2015 - #Oil, #2015Forecast, #Iea. [by Iea] Steady climb in global demand growth prompts slight upward revision of 2015 forecast. Having bottomed out in the second quarter of 2014, global oil demand growth has since steadily risen, with year-on-year gains estimated at around 0.9 million barrels per day (mb/d) for the final quarter of last year and 1.0 mb/d for the current quarter, the IEA Oil Market Report for March informed subscribers. The forecast of demand growth for all of 2015 was raised by 75 kb/d to 1.0 mb/d, bringing global demand to an average 93.5 mb/d. Global supply rose by 1.3 mb/d year-on-year to an estimated 94 mb/d in February, led by a 1.4 mb/d gain in non-OPEC output. Declines in the US rig count have yet to dent North American output growth. Final December and preliminary current-quarter data show higher than expected US crude supply, raising the 2015 North American outlook. OPEC crude output edged down by 90 kb/d in February to 30.22 mb/d, as losses in Libya and Iraq offset higher supply from Saudi Arabia, Iran and Angola. The slightly higher demand forecast has raised the "call" on OPEC crude for the second half of 2015 to 30.3 mb/d, above the group's official 30 mb/d target [iea.org]

» March 13 2015 - #RenewabelEnergy, #NaturalGas, #US. [by ensia.com] Will natural gas dim solar's shine? As natural gas booms, renewable energy proponents ponder whether it will serve as a bridge or roadblock to photovoltaic power . On the outskirts of downtown St. Paul, Minn., Xcel Energy's High Bridge Generating Station offers an iconic view of the current state of electrical generation in the United States. Opened in 2008 as a replacement for an aging coal plant, the 534-megawatt natural gas facility looms over three solar photovoltaic panels that provide a sculptural element to the site in addition to 9.8 kilowatts of electricity. In the United States in 2014, PV accounted for around half of a percent of the nation's electricity production compared with natural gas's 27 percent, according to the U.S. Energy Information Administration. Yet if PV seems more ornamental than a serious energy contender, the data over the past two years documenting a dramatic increase in PV generation show a promising rookie ready to compete in the big leagues [ensia.com]

» March 12 2015 - #EnergyStorage, #US, #GreetechmediaReport. [by greetechmedia] 2014 U.S. Energy Storage Monitor. Delivered quarterly, the U.S. Energy Storage Monitor provides the industry's only comprehensive research on energy storage markets, deployments, policies, regulations and financing in the U.S. [...] The U.S. Energy Storage Monitor is offered quarterly in two versions - the executive summary and the full report. The executive summary is free, and provides a bird's eye view of the U.S. energy storage market and the trends shaping it [greentechmedia.com]

» March 12 2015 - #ClimateChange, #Energy, #GlobalRisks, #NatureArticle. [by nature] Global change: Put people at the centre of global risk management. Globalization is changing the nature of risk. Natural and social systems - from climate to energy, food, water and economies - are tightly coupled. Abrupt changes in one have a domino effect on others. Floods in Thailand in 2010, for example, led to a global shortage of computer hard disks as a result of factories closing, as well as more than US$330 million in damage and around 250 deaths. The exposure of people and assets to risks is increasing worldwide. From 1980 to 2012, annual economic losses from environmental disasters rose more than sevenfold, from about $20 billion to $150 billion a year. Yet most risk assessments ignore networked threats. The annual Global Risks report of the World Economic Forum considers risks qualitatively, based on the views of experts. But global outlooks remain sectorial and too coarse to guide individuals, organizations, municipalities or nations. Risk reports also neglect the collective impacts of personal choices. For example, eating more beef causes deforestation and biodiversity loss in the Amazon. Local dams for hydropower or water storage alter sediment flows to fertile coastal regions. The movement of people from the countryside to cities affects water, food, climatic and energy systems planet-wide [nature.com]

» March 12 2015 - #Oil, #Opec. [by bloomberg] As OPEC's refusal to curb oil production contributes to a nine-month plunge in prices, a new paper suggests the group's days may be numbered. OPEC, the Organization of the Petroleum Exporting Countries, has vowed to defend its market share against higher-cost producers such as U.S. shale drillers and companies developing Canada's oil sands. Its strategy hinges on the odds that an extended period of low prices will lead other producers to scale back output, enabling the group to reassert its influence. OPEC supplies about 40 percent of the world's crude [bloomberg.com]

» March 11 2015 - #Hydrocarbon, #ResearchFund, #Iceland. Hydrocarbon Research Fund - Call for grant applications. The Hydrocarbon Research Fund is an educational and research fund relating to hydrocarbon activities in Iceland. The deadline for applications is 30 April 2015. The role of the Fund is to strengthen the development of research and scientific knowledge of hydrocarbon resources on the continental shelf of Iceland, the conditions for their formation and to enhance the development of technologies that can improve performance under conditions prevailing there [nea.is]

» March 11 2015 - #Oil, #Opec, #Shale, #US. [by Reuters] OPEC is winning its battle with U.S. shale. U.S. shale producers are falling behind in the Red Queen's Race as the downturn in drilling means that new oil production is failing offset falling output from existing wells. The famous race is named after the scene from Lewis Carroll's novel "Through the Looking-Glass", in which the Red Queen warns Alice: "It takes all the running you can do, to keep in the same place. If you want to get somewhere else, you must run twice as fast." The race is a metaphor for the relationship between increased oil production from newly drilled wells on the one hand and declining output from old wells on the other. The net result is that the downturn in drilling is threatening to cut output for the first time since the start of the shale revolution. Other forms of oil production, notably from offshore fields in the Gulf of Mexico, will continue to increase in the next few months. But in the shale sector, the Organization of the Petroleum Exporting Countries (OPEC) has won its battle with U.S. shale producers and forced output growth to a standstill [uk.reuters.com]

» March 11 2015 - #RenewableEnergy, #WindEnergyYield, #TurbulenceIntensity, #ResearchPaper. [by RenewableEnergy] Surface turbulence intensity as a predictor of extrapolated wind resource to the turbine hub height. Based on power law (PL), a novel method is proposed to extrapolate surface wind speed to the wind turbine (WT) hub height, via assessment of wind shear coefficient (WSC), by only using surface turbulence intensity, a parameter actually regarded as a merely critical one in wind energy studies. A 2-year (2012-2013) dataset from the meteorological mast of Cabauw (Netherlands) was used, including 10-min records collected at 10, 20, 40, and 80 m. WT hub heights of 40 and 80 m have been targeted for the extrapolation, being accomplished based on turbulence intensity observations at 10 and 20 m. Trained over the year 2012, the method was validated over the year 2013. Good scores were returned both in wind speed and power density extrapolations, with biases within 7 and 8%, respectively. Wind speed extrapolation was better predicted 10-40 m (NRMSE = 0.16, r = 0.95) than 10-80 and 20-80 m (NRMSE = 0.20-0.24, r = 0.86-0.91), while for power density even finer scores than wind speed were achieved (r = 0.98 at 40 m, and r = 0.96 at 80 m). Method's skills were also assessed in predicting wind energy yield. Application over sites with different terrain features and stability conditions is expected to provide further insight into its application field [ciencedirect.com]

» March 11 2015 - #OilPrice, #GlobalSupplyGlut, #USDrillers. [by EnergyVoice] The price of a barrel of Brent crude oil has dropped for a fifth consecutive day, its longest retreat in almost three months, amid signs that the global supply glut will persist. Brent fell as much as 2.9% in London and 1.9% in New York today. US crude supplies are projected to have increased from a record high last week, according to a Bloomberg survey before an Energy Information Administration report tomorrow. Futures also slid after the dollar strengthened on speculation America is moving closer to raising interest rates. Oil has rebounded after reaching a five-year low in January amid speculation that a global surplus will diminish as the year progresses. Since the start of December, drillers in the US have reduced the number of active rigs seeking oil by 41% to 922, the fewest since April 2011, Baker Hughes data shows [energyvoice.com]

» March 10 2015 - #Energy, #EuropeanStrategicInvestmentFund, #EFSI, #EU, #Italy. [by European Commission] Investment Plan for Europe: Italy to contribute Euro 8 billion. Today Italy announced that it would contribute Euro 8 billion to projects benefiting from finance by the European Fund for Strategic Investments (EFSI), which is the core element of the Euro 315 billion Investment Plan for Europe. The contribution will come via its National Promotional Bank Cassa Depositi e Prestiti. That makes Italy the fourth country to contribute to the Plan even before the European Fund for Strategic Investments has been formally set up [europa.eu]

» March 10 2015 - #ClimateChange, #Emissions, #Coal, #Gas, #Gasoline, #ResearchPaper. [by springer.com] A multi-impact economic valuation framework called the Social Cost of Atmospheric Release (SCAR) that extends the Social Cost of Carbon (SCC) used previously for carbon dioxide (CO2) to a broader range of pollutants and impacts. Values consistently incorporate health impacts of air quality along with climate damages. The latter include damages associated with aerosol-induced hydrologic cycle changes that lead to net climate benefits when reducing cooling aerosols. Evaluating a 1% reduction in current global emissions, benefits with a high discount rate are greatest for reductions of co-emitted products of incomplete combustion (PIC), followed by sulfur dioxide (SO2), nitrogen oxides (NOx) and then CO2, ammonia and methane. With a low discount rate, benefits are greatest for PIC, with CO2 and SO2 next, followed by NOx and methane. These results suggest that efforts to mitigate atmosphere-related environmental damages should target a broad set of emissions including CO2, methane and aerosol/ozone precursors. Illustrative calculations indicate environmental damages are $330-970 billion yr-1 for current US electricity generation (14-34c$ per kWh for coal, 4-18c$ for gas) and $3.80 (-1.80,+2.10) per gallon of gasoline ($4.80 (-3.10,+3.50) per gallon for diesel). These results suggest that total atmosphere-related environmental damages plus generation costs are much greater for coal-fired power than other types of electricity generation, and that damages associated with gasoline vehicles substantially exceed those for electric vehicles [springer.com]

» March 10 2015 - #Oil, #DeepWater, #Africa, #LatinAmerica, #NorthAmerca, #OilPrices, #SubseaCapexForecast, #InfieldReport. [by offshore-mag.com] Infield Systems' new Interim Subsea Market Report to 2019 sees potential for growth in the subsea market over the next five years. If oil prices recover, subsea capex could grow at a compound annual growth rate of 11.1% from 2015-2019. Historical high oil prices and advances in technology have allowed for increasing oil and gas activity in deeper, more remote waters, where economics previously made developing prospects challenging. These trends have had a positive effect on the subsea market in recent years. However, market conditions created by the current uncertainties in global oil prices could put some subsea projects at risk, particularly those associated with field developments with high costs and high risks. Subsea demand is likely to continue to be dominated by developments in Africa, Latin America and North America, influenced largely by their continued focus on deepwater activity. Infield Systems' subsea market forecast expects these three regions combined to account for 75% of global subsea capex demand and 59% of subsea tree installations over the next five years [mckinsey.com]

» March 10 2015 - #OilPrices, #WorldEconomy, #Forecasts. [by mckinsey.com] Leading forecasters estimate that the world economy will grow by between 2.8 and 3.8 percent this year-about one percentage point lower than last year's consensus forecasts. Yet as monitors of the global economy lower their expectations for 2015, executives are increasingly focusing on opportunities presented by diverging growth rates among regions, countries, and even sectors. This means an essential element of strategic and financial planning for 2015 and beyond is taking closer account of critical regional trends and risks, with sensitivity to key economic indicators and government policy responses. McKinsey's Global Economics Intelligence (GEI) team closely tracks forecasts of leading financial institutions and multilaterals. By the latest estimate of the International Monetary Fund (IMF), in October 2014, world GDP growth was measured at 3.3 percent for 2014.1. For 2016, the IMF and other organizations have lowered previous global GDP growth projections to 3.1 to 4.1 percent (Exhibit 1). Most forecasters expect a robust US economy to continue to lead the way, and the eurozone's new program of quantitative easing is a sign the region is ready for expansion. And while falling oil prices weigh heavily on growth prospects for commodities-dependent Brazil and Russia, China and India are benefiting from easing inflationary pressures [mckinsey.com]

» March 09 2015 - #GHGEmissions, #SouthKoreaDatabase, #LowCarbonEconomy. [by carbonmarketdata] South Korea GHG Reporting Company Database. 684 companies, emitting a total of around 580 MtCO2. The Korea GHG Reporting Company Database provides greenhouse gas emissions data as well as energy consumption and sales revenue information on around 700 companies based in South Korea. Under the South Korean State regulations, these companies have had to report their greenhouse gas emissions since 2007. Moreover, the vast majority of these companies are also participating to the Korean carbon cap-and-trade programme, which started on 1 January 2015 [carbonmarketdata.com]

» March 09 2015 - #RenewableEnergy, #PV, #India, #LowCarbonEconomy. The Government encourages setting up of solar power projects through various measures like: (i) Grant of subsidy on off-grid applications. (ii) Provision for renewable purchase obligation for solar has been made in the National Tariff Policy. (iii) Concessional Import duty/Excise duty exemption for setting up of solar power plants, accelerated depreciation and tax holiday. (iv) Generation based incentive and facility for bundled power for Grid connected Solar Power Projects through various interventions announced from time to time. (v) Several R&D efforts have been initiated for new technologies and improvement in efficiency. Government of India has accorded in-principle approval for setting up Solar Parks in the State of Gujarat, Andhra Pradesh, Uttar Pradesh, Meghalaya, Rajasthan, Madhya Pradesh, Tamil Nadu, Karnataka, Punjab and Telangana. Projects under Central/State Schemes shall come up in these Solar Parks [pib.nic.in]

» March 09 2015 - #CarbonTax, #Swiss, #ClimateChange, #ClimateEconomics. [by CarbonPulse] Swiss voters on Sunday firmly rejected a measure proposed by the Liberal Green Party to replace the country's value-added tax (VAT) with a carbon tax. Official results reported by local media showed that 92% of voters rejected the initiative, with an overall turnout of around 42% of eligible voters. The tax, which was also supported by the Green Party of Switzerland and environmental groups, would have applied to fossil fuel sources such as gasoline and heating oil, encouraging consumers to use more renewable forms of energy. But Switzerland's parliament, government, cantons and largest companies opposed the proposal, warning that it would drastically cut the 22 billion francs currently raised annually by the VAT [carbon-pulse.com]

» March 07 2015 - #Oil, #CaspianSea, #Iran. [by AbO] Iran is involved in exploration activities in the Caspian Sea with the aim of discovering new oil and gas fields. Oil Minister Bijan Namdar Zanganeh has decided to develop deposits in this area due to the rich hydrocarbon resources in the Persian Gulf, in the Khuzestan Province and in the central regions of Iran. In May 2012 drilling was completed of the first well of Sardar Jangal, in the Caspian Sea, whose oil reserves are around 2 billion barrels. The Managing Director of the National Iranian Oil Company, Roknoddin Javadi, appreciated ongoing operations in the Caspian Sea and reiterated that Tehran will go ahead with explorations [abo.net]

» March 07 2015 - #Gas, #LNGMarket, #EnergyEconomics. [by oilprice.com] Growth in the global natural gas trade is expected to continue to climb rapidly. Worldwide trade in liquefied natural gas (LNG) is expected to reach $120 billion this year, making it the second most valuable commodity, according to Goldman Sachs. The $120 billion figure will allow LNG to overtake iron ore in terms of the value traded. The strong growth is the result of major supply expansions that are expected to come online this year and next. More liquefaction capacity will mean an erosion of the practice of linking the price of LNG to the price of oil under long-term contracts. In its place will be an increasing reliance on the spot market, giving greater leverage to buyers. Over the next ten years, LNG is expected to see a 5.1% growth rate [news.yahoo.com]

» March 06 2015 - #Oil, #OilProducion, #US, #EnergyEconomics. [by news.yahoo] The U.S. has so much crude that it is running out of places to put it, and that could drive oil and gasoline prices even lower in the coming months. For the past seven weeks, the United States has been producing and importing an average of 1 million more barrels of oil every day than it is consuming. That extra crude is flowing into storage tanks, especially at the country's main trading hub in Cushing, Oklahoma, pushing U.S. supplies to their highest point in at least 80 years, the Energy Department reported last week [news.yahoo.com]

» March 06 2015 - #Oil, #OilProducionForecast, #Geopolitics, #EnergyEconomics. [by offshore-mag] ExxonMobil expects to increase its global production by 2% this year to more than 4.1 MMboe/d, driven by 7% liquids growth. This is partly due to ramp-up of several projects completed in 2014 and seven new major developments likely to start up in 2015. These include Hadrian South in the Gulf of Mexico, Banyu Urip offshore Indonesia, and deepwater expansion projects at Erha off Nigeria and Kizomba off Angola. In 2016 and 2017, the company foresees production ramping up from projects including Gorgon Jansz off Western Australia, Hebron offshore Newfoundland & Labrador, and expansions of Upper Zakum offshore the UAE, and Odoptu offshore Sakhalin Island [offshore-mag.com]

» March 06 2015 - #Energy2030, #EU, #ClimateAndEnergy, #Geopolitics, #Workshop. [by towards2030] The Thematic workshop on "Implementing the EU 2030 climate and energy framework: a closer look at renewables" will take place on the 18th of March from 09:30 - 14:00 in CEPS, Brussels, Belgium [towards2030.eu]

» March 06 2015 - #NaturalGas, #Ukraine, #Russia, #Geopolitics. [by EnergyPost] Gazprom is blocking reverse gas flow from Slovakia to Ukraine in violation of EU law, says Andriy Kobolev, the CEO of Ukraine's state-owned gas monopoly Naftogaz, in an exclusive interview with Slovakian energy analyst Jozef Badida. As a result European companies are not able to meet the demand from gas in Ukraine and Ukraine is left at the mercy of Gazprom. Kobolev calls on the EU to take action against the Russian company. But he also notes that despite Gazprom's opposition, supplies to Ukraine from the EU have increased considerably since 2009. "The old days for Gazprom are over." He calls on other Central and Eastern European countries to create an efficient gas market together [energypost.eu]

» March 06 2015 - #OilAge, #EnergyEconomics, #OilCrisis, #ShaleOil, #US, #SaudiArabia, #Geopolitics. [by TheOilAgeJournal] World discovery peaked in 1964 and delivered a corresponding peak of production of conventional oil in 2005. This in turn prompted the industry to turn to ever more difficult sources, which have much lower net energy yields. A debate rages as to the precise date of the peak production of all categories of oil, which is imminent, but misses the point when what matters is the vision of the long decline on the other side of it. The difficulties in assessing the position arise because there is no standard classification of the various categories which is a cause of much confusion in public databases. Information on so-called reserves is also unreliable in many countries, especially the OPEC members, due to political and economic pressures [...] The Second Half of the Oil Age. It is evident from the foregoing that the Second Half of the Oil Age dawns. The decline in this critical source of energy will clearly have a colossal impact, and the transition threatens to be a time of great tension as indeed already witnessed by demonstrations, riots and revolutions around the world. People facing soaring food prices and falling employment understandably become resentful and blame their governments, not realising that the circumstances are ultimately imposed by Nature. Oil prices reached almost $150 a barrel in 2008 following the peak of conventional oil production three years earlier, which in turn prompted a serious economic recession cutting demand. The financial structure of the world was seriously affected with several prominent banks failing. But the fall in demand put pressure on oil prices which have fluctuated widely over the past few years. In the United States, whose conventional production peaked in 1970, the high prices prompted a turn to so-called fracking, namely a process using highly deviated wells to inject fluids under high pressure to fracture oil- and gas-bearing rocks lacking sufficient natural porosity and permeability to be normal reservoirs. The wells, having a low net energy yield, are expensive and short-lived, with $80 a barrel being widely seen as the minimum oil price to make them viable. The more promising areas, termed sweet spots, were naturally tapped first, as soon as they could be identified. The resource in the ground is enormous and unquantifiable, but it is a very different source of energy from that which powered the First Half of the Oil Age. A recent anomalous fall in prices to around $50 a barrel was triggered when Saudi Arabia decided to ignore its OPEC obligations to cut production to support price. Its motives are obscure with a possible factor being the recent death of King Abdullah, who once said that he wished to leave as much oil as possible in the ground for his grandsons. It is too soon to forecast the future price range but the current low level is certainly anomalous and probably short-lived. It costs Saudi Arabia less than $30 a barrel to produce its oil, so when they sell it for over $100 that is unearned income on a massive scale. Much of the surplus is no doubt placed with international banks who in turn lend it out charging interest and creating yet more money out of thin air [localcampus.com]

» March 06 2015 - #OilPrice, #SaudiArabia, #Opec, #Geopolitics. [by bloomberg] The world's biggest oil exporter will only cut output if customers refuse to buy its crude, which is unlikely because Saudi Arabia has the most reliable supply, Oil Minister Ali al-Naimi said in Berlin on Wednesday. Prices will continue to stabilize as recovering demand helps the global market to rebalance, he said [...] The Organization of Petroleum Exporting Countries' strategy of pressing rival producers such as U.S. shale explorers into tackling the current surplus will prove to be "the correct path," according to al-Naimi. U.S. producers have implemented an unprecedented cut in drilling as oil collapsed to a near six-year low after OPEC's Nov. 27 decision to maintain production [bloomberg.com]

» March 06 2015 - #NuclearPower, #Areva, #France, #Geopolitics. [by J. Morales Pedraza] Areva has a two-part strategy to refocus on its core business of nuclear power and return to competitiveness, aiming to make savings of about Euro 1 billion ($1.1 billion) over the next few years after a record loss in 2014 of Euro 4.83 billion ($5.38 billion). Areva - which is 85% owned by the French state - attributed the size of the loss to costs associated with delays to its nuclear and renewable energy projects. Revenue dipped 7.2% year on year to Euro 8.34 billion ($9.29 billion), of which nuclear operations accounted for Euro 8.21 billion ($9.14 billion) - down 7.3% - and renewables operations euro 53 million ($59 million) - down 21.4%. As well as construction delays, including to the Olkiluoto nuclear power plant in Finland, Areva said its bottom line was also hit by impairment charges to upgrading work at its Comurhex II uranium conversion plant project in France. The company, which plans to announce by the end of this month a three-year financing plan to achieve the cost savings, said it will sell assets and start talks with trade unions about potential redundancies. It aims to reduce capital expenditure to less than Euro 3.0 billion ($3.3 billion) between 2015 and 2017. Other considerations for Areva include liabilities from new regulations on the decommissioning of nuclear fuel facilities [Energy Economics and Geopolitics]

» March 05 2015 - #NaturalGas, #Coal, #GasGoldenAge. [by theEconomist] Once upon a time, in a world in which oil was costly and energy sources seemed scarce, the International Energy Agency, a think-tank for countries which import fossil fuels, produced a special report heralding a "golden age of gas". That was in 2011. It suggested that fast-rising demand, chiefly from emerging economies and in power generation, could lead gas to displace coal by 2030. Big energy companies shared that optimism. High prices and rising demand in East Asia, especially China and Japan [...] America, awash with gas thanks to the shale boom, began rejigging coastal terminals originally built for importing LNG, so as to begin exporting it. But something unexpected happened. Coal, despised as the dirtiest fossil fuel, underwent an unexpected renaissance, notably in Europe, displacing gas in power generation. This was partly because of plentiful supplies of cheap coal on world markets [economist.com]

» March 05 2015 - #RenewableEnergy, #PV, #Apple. [by yourenergyblog.com] According to Reuters, Apple is teaming up with First Solar, Inc. to purchase 130 megawatts (MW) of electricity, costing the tech giant a measly $848 million over 25 years. "Given the profile of Apple and their reputation we think it's going to stimulate a lot of other companies that may not have programs as active as Apple's to ask questions - is there a smarter better way we can procure our energy?" stated Jim Hughes, CEO of First Solar. So what does Apple plan to do with all this energy? CEO Tim Cook spoke at an investors' conference and stated that the company planned to use the energy to power its California operations, including several stores, a data center in Fremont, and its new campus in Cupertino [energyvoice.com]

» March 04 2015 - #OilPriceCrisis, #UK, #NorthSea. [by energyvoice.com] David Glen, head of tax at PricewaterhouseCoopers (PwC) in Scotland, said there is a "real danger" plunging oil prices could result in investment becoming uneconomic, leading to diminishing field life and speeding up decommissioning. The latest economic report from the University of Strathclyde's Fraser of Allander Institute, sponsored by PwC, joins calls for the Chancellor to take action in the Budget later this month. The industry has been hit by job losses with BP, ConocoPhillips, Talisman Sinopec, Shell, Chevron and Schlumberger all announcing cuts in recent months [energyvoice.com]

» March 04 2015 - #EnergySectorReturns, #Russia, #OilPrice, #Geopolitics. [by breakingenergy] Despite the ongoing Ukraine crisis, a plethora of Western sanctions and a plummeting currency, amazingly Russian energy sector returns have risen by about 22 percent. "No other country comes close. Canada, another oil- and gas-heavy nation, has seen industry equity returns rise by just 1.8 percent this year, while the MSCI USA Index is up only 0.7 percent. Why is Russia, which is fraught with geopolitical problems and currency issues, dramatically outperforming everyone else? In part, because its market dropped well before the oil crisis began [breakingenergy.com]

» March 04 2015 - #OilPrice, #OilCrisis, #SaudiArabia. [by O&GJ] Saudi Arabia has fiscal buffers enabling it to cover projected deficits while oil prices are low for at least 4 years and perhaps more than 8 years, according to an analyst at Arab Petroleum Investments Corp., Dammam. With other resources, "including a large, untapped borrowing capacity, the country's fiscal power appears almost inexhaustible," writes Ali Aissaoui, APICORP senior consultant in a report published this month. Many market analysts believe the kingdom's policy of defending oil-market share instead of the price of crude depends on its ability to endure budget deficits while the price is low. Saudi Oil Minister Ali Al-Naimi enunciated that policy after successfully resisting measures to lower oil supply at an Organization of Petroleum Exporting Countries meeting last November [ogj.com]

» March 03 2015 - #Oil, #GulfOfMexico, #US. [by fuelfix] The recent downturn in crude oil prices isn't expected to have much of an impact on Gulf of Mexico production, according to a report from the U.S. Energy Information Administration. The government agency projects that crude oil production will reach 1.52 million barrels per day and grow to 1.61 million barrels per day in 2016. By 2016, the Gulf will account for about 17 percent of total U.S. crude production. The growth will be driven by both new projects coming online and the expansion of existing fields. While onshore production plans have been scaled back as crude prices have fallen, many producers have been more hesitant to cut offshore projects because of the long timelines associated with the production [fuelfix.com]

» March 03 2015 - #NuclearPower, #France, #NuclearRisks. [by newsweek] Most French Nuclear Plants 'Should Be Shut Down' Over Drone Threat [...] "You don't need massive amounts of force to allow a nuclear plant to go into instability. The plant has enough energy to destroy itself. Drones can be used to tickle the plant into instability." [newsweek.com]

» March 03 2015 - #EnergyTransition, #EnergyPolicy, #EarthPolicyBook. The Great Transition, Lester R. Brown, As fossil fuel reserves shrink, as air pollution worsens, and as concerns about climate instability cast a shadow over the future of coal, oil, and natural gas, a new world energy economy is emerging. The old economy, fueled largely by coal and oil, is being replaced with one powered by solar and wind energy. We can see the transition unfolding. In the U.S. Midwest, Iowa and South Dakota are generating 26 percent of their electricity from wind farms. Denmark generates 34 percent of its electricity from wind. Portugal and Spain are above 20 percent. In China, electricity from wind farms now exceeds that from nuclear power plants. And in Australia, 15 percent of homes draw energy from the sun. With solar and wind costs falling fast, their spread is accelerating [...] the environmental and economic wisdom of moving to solar and wind energy and shows how fast change is coming [earth-policy.org]

» March 03 2015 - #ClimateChange, #IPCC. The Intergovernmental Panel on Climate Change (IPCC) has taken a series of decisions to make its reports more accessible and involve developing countries more closely in its work. The decisions, following a review of the future work of the IPCC over the past year and a half, pave the way for the IPCC to prepare its next cycle of reports, which will be initiated by elections for a new Bureau and Chair in October 2015. Among the moves agreed to this week at its Session in Nairobi, Kenya, the Panel decided to increase the representation of African and Asian countries in the IPCC Bureau by increasing the number of its members to 34 from 31. It also decided to continue preparing comprehensive assessment reports every five to seven years, which also cover regional aspects of climate change, taking into account the work of the United Nations Framework Convention on Climate Change (UNFCCC) in determining its future reports and their timing [ipcc.ch]

» March 03 2015 - #RenewableEnergy, #PV, #GreentechmediaOutlook. Global PV Pricing Outlook 2015. Driven by the emergence of a strong set of regionally diverse country markets in the last two years, the global PV supply chain overcame the stress of overcapacity, now benefiting from a healthy supply-demand market. Though supply-demand stability and input cost reduction are expected to continue in 2015, the continually evolving regional tariff landscape will pose price risks [greentechmedia.com]

» March 02 2015 - #NaturalGas, #Gaza, #PalestinianTerritories, #Israel, BrookingsPaper. Gaza Marine: Natural gas extraction in tumultuous times? [...] The reality is that there are practical solutions for these issues. The direct sale of gas by the BG Group through Israeli infrastructure just north of the Gaza Strip, licensed by the internationally recognized Palestinian Authority in Ramallah, offers a viable route to bring the gas field into production. Security concerns would be alleviated by the underwater piping to safer facilities in Israel. The technicalities, in other words, are solvable, and the economics make sense. All that is lacking now is sufficient political leadership [brookings.edu]

» March 02 2015 - #NaturalGas, #LNG, #GHG, #US, EnvironSciTechnolPaper. Life Cycle Greenhouse Gas Emissions From U.S. Liquefied Natural Gas Exports: Implications for End Uses. This study analyzes how incremental U.S. liquefied natural gas (LNG) exports affect global greenhouse gas (GHG) emissions. We find that exported U.S. LNG has mean precombustion emissions of 37 g CO2-equiv/MJ when regasified in Europe and Asia. Shipping emissions of LNG exported from U.S. ports to Asian and European markets account for only 3.5−5.5% of precombustion life cycle emissions, hence shipping distance is not a major driver of GHGs. A scenario-based analysis addressing how potential end uses (electricity and industrial heating) and displacement of existing fuels (coal and Russian natural gas) affect GHG emissions shows the mean emissions for electricity generation using U.S. exported LNG were 655 g CO2-equiv/kWh (with a 90% confidence interval of 562–770), an 11% increase over U.S. natural gas electricity generation. Mean emissions from industrial heating were 104 g CO2-equiv/MJ (90% CI: 87–123). By displacing coal, LNG saves 550 g CO2-equiv per kWh of electricity and 20 g per MJ of heat. LNG saves GHGs under upstream fugitive emissions rates up to 9% and 5% for electricity and heating, respectively. GHG reductions were found if Russian pipeline natural gas was displaced for electricity and heating use regardless of GWP, as long as U.S. fugitive emission rates remain below the estimated 5–7% rate of Russian gas. However, from a country specific carbon accounting perspective, there is an imbalance in accrued social costs and benefits. Assuming a mean social cost of carbon of $49/metric ton, mean global savings from U.S. LNG displacement of coal for electricity generation are $1.50 per thousand cubic feet (Mcf) of gaseous natural gas exported as LNG ($.028/kWh). Conversely, the U.S. carbon cost of exporting the LNG is $1.80/Mcf ($.013/kWh), or $0.50-$5.50/Mcf across the range of potential discount rates. This spatial shift in embodied carbon emissions is important to consider in national interest estimates for LNG exports [pubs.acs.org]

» February 27 2015 - #Oil, #Geopolitics, #Fracking, #US, #SaudiArabia, #Opec, #Russia. [by AbO] The chances of US fracking. The North American oil business is playing a new lottery that even has its own Twitter "hashtag": #rigcountguess. Since Saudi-led OPEC decided at the end of last November not to support international crude prices by reducing production, the bottom has of course fallen out of the market, sucking margin from relatively costly American fracking production and making the drilling of new wells economically unattractive. The result has been a spectacular collapse in the number of drilling rigs in operation in the U.S.; a trend so marked and so alarming that attempting to guess just how bad it can get has become a major oil industry sport - something like "fantasy football", but about real money [abo.net]

» February 27 2015 - #NaturalGas, #Geopolitics, #Russia, #Ukraine. [by FP] Putin's Ukrainian Power Play. Russia's latest threats to cut off natural gas supplies to Kiev are part and parcel of its growing push to force the West to back down in the battle for Ukraine [foreignpolicy.com]

» February 27 2015 - #ClimateChange, ClimateSystem#, #GlobalWarming, #ClimateVariability, #ClimateModelProjections, #SciencePaper. After a period of rapid global warming, the rate of global temperature rise has slowed markedly in the past 10 to 15 years. Is this "hiatus" a result of natural climate variability, or does it signify a change in the drivers of global warming? [...] Steinman et al. present time-series estimates of Atlantic and Pacific variability from state-of-the-art climate modeling. They show that in the past 130 years, periods of natural variability both in the Atlantic and Pacific have at times enhanced or counteracted the underlying global warming trend. The results support the conclusion that cool Pacific temperatures have played a key role in modulating atmospheric temperature increases in the past 10 years, only partially offset by modest warming in the Atlantic [...] The recent slowdown in global warming has brought into question the reliability of climate model projections of future temperature change and has led to a vigorous debate over whether this slowdown is the result of naturally occurring, internal variability or forcing external to Earth's climate system. To address these issues, we applied a semi-empirical approach that combines climate observations and model simulations to estimate Atlantic- and Pacific-based internal multidecadal variability (termed "AMO" and "PMO," respectively). Using this method, the AMO and PMO are found to explain a large proportion of internal variability in Northern Hemisphere mean temperatures. Competition between a modest positive peak in the AMO and a substantially negative-trending PMO are seen to produce a slowdown or "false pause" in warming of the past decade [sciencemag.org]

» February 27 2015 - #NaturalGas, #ShaleGas, #Geopolitics, #BelfercenterReport. The geopolitics of natural gas. A study directed by Harvard University's Geopolitics of Energy Project at the Kennedy School, the Center for Energy Studies at Rice University's James A. Baker III Institute for Public Policy, and the University of California, Davis Graduate School of Management. Some of the most dramatic energy developments of recent years have been in the realm of natural gas. Large quantities of North American unconventional gas are now commercially viable, changing the strategic picture for the continent and raising the possibility that the United States could become an exporter of natural gas to Asian and European markets. This development has reverberated across the globe, causing shifts in patterns of trade and catalyzing other countries in Europe and Asia to explore their own indigenous shale gas potential. The increased availability of unconventional natural gas is, in turn, putting pressure on longstanding contractual arrangements that underpin the oil-linked gas pricing paradigm. In addition, the heretofore discrete nature of North American, European, and Asian natural gas markets is being challenged by increasing opportunities for trade, particularly via liquefied natural gas (LNG), which may lead to strategic shifts, such as the weakening of Russia’s dominance in the European gas market [belfercenter.ksg.harvard.edu]

» February 27 2015 - #GHGEmissions, #ElectricityGeneration, #NatureArticle. [by Nature Climate Change] To reduce greenhouse-gas emissions in the short term, and catalyse longer-term cuts, countries should reduce the carbon intensity of electricity generation to below a universal target of 600 tCO2e GWh-1 by 2020 [nature.com]

» February 26 2015 - #OilInfrastructure, #US, #Csis. CSIS Energy and National Security Program, rollout of its newly released report, Delivering the Goods: Making the Most of North America's Evolving Oil Infrastructure, WATCH LIVE at 1:00 PM EST [csis]

» February 26 2015 - #ShaleOil, #US. [by bakken.com] North Dakota's oil producers have pulled back to the core areas of the Bakken formation to cut costs and maximize output amid the slump in prices. The number of active rigs in the state has fallen to just 121, from 190 a year ago, according to an active rig list published by the state's Department of Mineral Resources (DMR) on Wednesday. The rig count is now below the threshold of "at least 130" DMR Director Lynn Helms identified last month as needed to sustain output at the current level of just over 1.2 million barrels per day. But more important than the raw number is their distribution across the state, with drilling now increasingly concentrated in only the most promising areas. Of the 121 rigs active on Wednesday, 115 are drilling in just four counties at the heart of the Bakken - Dunn, McKenzie, Mountrail and Williams [bakken.com]

» February 26 2015 - #SustainablePackaging, #ClimateChangeMitigationOptions, #FaoConference. International online conference 'Economics of Climate Change Mitigation Options in the Forest Sector' organized by the FAO Forestry Department. Fifty one technical presentations combined with panel and plenary discussions provide an excellent opportunity for sharing country experiences during this event [...] The next conference session, Sustainable Packaging - online conference session, will begin in 1 day: Friday 27 February - 2pm Rome time (UTC+1) [fao.org]

» February 26 2015 - #RenewableEnergy, #EnergyPolicy, #France. Policy uncertainty biggest threat to France's 2030 renewable targets and long awaited offshore wind plans. Despite France's energy transition law, which could lead to the country generating 40% of its electricity from renewables by 2030, too many "what ifs" shadow the country's clean energy ambitions and job creation needs [csis.org]

» February 25 2015 - #EnergyPolicy, #EnergyUnion, #ClimatePolicy, #EU. Today the European Commission sets out its strategy to achieve a resilient Energy Union with a forward-looking climate change policy. Energy is used to heat and to cool buildings and homes, transport goods, and power the economy. But with ageing infrastructure, poorly integrated markets, and uncoordinated policies, our consumers, households and businesses do not benefit from increased choice or from lower energy prices. It is time to complete the single energy market in Europe. [...] Key figures: The EU is the largest energy importer in the world, importing 53% of its energy, at an annual cost of around Euro 400 billion; 12 EU Member States [Cyprus, Estonia, Ireland, Italy, Lithuania, Latvia, Malta, Poland, Portugal, Romania, Spain, United Kingdom] do not meet the EU's minimum interconnection target - that at least 10% of installed electricity production capacity be able to "cross borders"; The EU has listed 137 electricity projects, including 35 on electricity interconnection: between them, these projects could bring that figure from 12 down to 2 Member States; An appropriately interconnected European energy grid could save consumers up to euro 40 billion a year; 6 EU Member States[Bulgaria, Estonia, Finland, Latvia, Lithuania, Slovakia] are dependent on one single external supplier for all their gas imports; 75% of our housing stock is energy inefficient - 94% percent of transport relies on oil products, of which 90% is imported; Over Euro 1 trillion needs to be invested into the EU energy sector by 2020 alone; Wholesale electricity prices in Europe are 30% higher, and wholesale gas prices over 100% higher, than in the US; European renewable energy businesses have a combined annual turnover of Euro 129 billion, employing over a million people - The challenge is to retain Europe's leading role in global investment in renewable energy; EU greenhouse gas emissions fell 18% in the period 1990-2011; By 2030, the EU aims to cut greenhouse gas emissions by at least 40%, boost renewable energy by at least 27%, and improve energy efficiency by at least 27% [europa.eu]

» February 25 2015 - #ClimateChange, #CO2Emissions, #ClimateAgreement, #ParisCoP, #EU. The European Commission today set out the EU's vision for the new global climate change agreement due to be adopted in Paris in December. The Communication, "The Paris Protocol - a blueprint for tackling global climate change beyond 2020", is part of a package unveiled by the European Commission as part of the EU's Energy Union strategy. As well as securing Europe's energy supply, ensuring affordable and competitive energy and an integrated energy system, the strategy also aims to tackle climate change through the transition to a low-carbon, climate-friendly economy [...] In Paris, this December, the EU is seeking a transparent and dynamic legally binding agreement, containing fair and ambitious commitments from all Parties based on evolving global economic and geopolitical circumstances. Collectively, these commitments - based on scientific evidence - should put the world on track to reduce global emissions by at least 60% below 2010 levels by 2050 [ec.europa.eu]

» February 25 2015 - #RenewableEnergy, #EU, #PowerGeneration, #DnvGlReport. [by EnergyPost] The integration of approximately 60% of renewables into the European electricity system will be feasible by 2030, but will come with an extensive expansion of infrastructure, including transmission and distribution networks as well as conventional backup generation. The challenges of grid integration of renewables can be mitigated by a number of technical and regulatory measures. These are the findings of a DNV GL study for the European Commission, carried out in conjunction with Imperial College London and NERA Economic Consulting [energypost.eu]

» February 25 2015 - #Coal, #NaturalGas, #PowerGeneration, #IEACleanCoalCentreWebinar. Coal and gas competition in power generation in Asia, webinar, Wednesday 18 March at midday (UK time). Competition between coal and natural gas for power generation has been observed to occur in North America and Europe in recent years, where the costs of the two fuels have played a key role in determining the relative competitiveness. It is perceived that such a competition could also happen in Asian countries. More importantly, as these countries are expanding their generation capacity to meet growing electricity demand, a key question is raised of whether coal or gas power plants should be built with priority. This webinar is based on a recent report published by IEA CCC, where the authors investigate nine Asian countries to seek to understand the mechanisms that drive the competition between coal and gas for power generation [iea-coal.org]

» February 25 2015 - #Oil, #KeystoneXLpipeline, #US, #Canada. [by The NewYorkTimes] President Obama on Tuesday rejected an attempt by lawmakers to force his hand on the Keystone XL oil pipeline, using his veto pen to sweep aside one of the first major challenges to his authority by the new Republican Congress. With no fanfare and a 104-word letter to the Senate, Mr. Obama vetoed legislation to authorize construction of a 1,179-mile pipeline that would carry 800,000 barrels of heavy petroleum a day from the oil sands of Alberta to ports and refineries on the Gulf Coast [nytimes.com]

» February 24 2015 - #Oil, #OPEC, #Geopolitics. [by AbO] OPEC's winning strategy. Forecasts suggest that OPEC's strategy is beginning to have results: demand will grow despite the price crash and the supply surplus, and while shale oil is in crisis and Russia is sceptical, the price-cutting strategy in Asian markets seems to be working [abo.net]

» February 24 2015 - #EnergyPolicy, #EU, #EnergyUnion. [by Energy Post] The "Energy Union" for Europe is a dream that the European Commission will find hard to realise with its existing powers limited to the internal market and competition law, says Jean-Michel Glachant, Robert Schuman Chair, Director of the Florence School of Regulation and Director of the Loyola de Palacio Energy Policy Programme at the European University Institute. [...] he applauds the ambition behind this creative renaming of EU energy policy, and discusses three forms he believes an Energy Union could take: "Eurelectric-Eurogas" (the internal market), "Tusk-Oettinger" (security of supply) and "Vinois-Delors" (innovation, consumers and sustainability). But none of the three are very realistic. Without institutional change, Glachant fears, the scope for "Union" is limited [energypost.eu]

» February 24 2015 - #OilDemand, #Forecast, #OPECMonthlyOilMarketReport. [by OPEC MOMR] Global oil demand in 2015 is currently anticipated to rise by 1.17 mb/d; however, developments need to be monitored closely, particularly following the sharp drop in crude oil prices seen in recent months. As prices drop, oil requirements are likely to respond positively, although this can be impacted by other factors. For example, in 2008, prices fell sharply starting in the summer with the onset of the financial crisis and the global economic recession, which also led to a deterioration in demand. This time the sharp fall in prices has been mainly driven by excess supply. As a result, lower prices are likely to help to accelerate the pace of oil demand growth this time. Other factors can also impact the degree to which any acceleration in demand takes place. In addition to economic growth, the adoption of energy policies and regulations can also influence oil requirements greatly. These factors tend to vary considerably from one economy to another and, as a result, their impact will also differ. A review of oil demand patterns going into 2015 bears this out. Preliminary data for US oil demand shows a continuation of the positive momentum started in 4Q14. Gasoline, in particular, remains a key driver behind the growth in US oil demand, largely a result of lower oil prices. Gasoline pump prices in the US currently average $2.07/gal, down $1.22/gal from a year earlier. Preliminary data for January shows another significant rise in gasoline demand of 0.70 mb/d, continuing the general positive trend seen in the previous three months. Over this period, middle distillates have largely experienced the opposite trend, with preliminary data showing y-o-y growth falling for two-consecutive months. Overall, US oil consumption has seen a noticeable rise and is expected to stay firm in the near term amid lower oil prices and as economic activities improve. US oil demand growth is forecast to be around 0.18 mb/d and could see further upward revisions as the situation continues to improve [opec.org]

» February 24 2015 - #Biofuels, #FuelCycleAnalysis, #WiresEnergyEnvironPaper, #DeCicco. [by Wiley] The liquid carbon challenge: evolving views on transportation fuels and climate. Carbon-based liquid fuels are highly valued for transportation; they are the world's largest form of commercial energy and second largest source of anthropogenic carbon dioxide (CO2) emissions. Strategies to address their CO2 emissions have been shaped by fuel cycle analysis (FCA), a version of lifecycle assessment that examines fuel products and their supply chains. FCA studies have diverse findings and large uncertainties. Disagreements are particularly sharp for biofuels, which are seen as key replacements for petroleum fuels. A critical reading of the evolving literature reveals problems of model structure, including system boundary misspecification, flawed carbon cycle representation, and use of a static framework to analyze dynamic systems. New analytic paradigms are needed for liquid fuels, given their tradability, the realities of the carbon cycle, and the implausibility of capturing carbon from mobile sources. Logical decomposition of options shows that, beyond measures to limit fuel demand, CO2 emissions from liquid fuels must be balanced by increasing the rate of net carbon fixation. Further analysis and discussion are needed of carbon accountingmethods, energy research priorities, ways to link CO2 removal options to fuel-related mitigation efforts, and the transportation elements of climate policy [wiley.com]

» February 24 2015 - #Biofuels, #Aviation, JetFuel, #TransparencyMarketResearchReport. Fuels made from biomass, known as bio-fuels, contains enormous amount of energy similar to any other energy resources such as oil, gas, coal and others. However, bio-fuel provides more cleanliness than any other conventional energy resources. Bio-fuel has the potential to fulfill the needs and objectives of both aviation and bio-fuels stakeholders. Aviation industry uses a variety of strategies to deal with aviation fuel price fluctuations, including increased vertical integration, financial hedges and adjustments in aircraft utilization and size. Investments in the research and development in alternative aviation fuel can become a way to diversify exposure to the price of conventional fuels. Bio-fuel can be proved a more diversified fuel for airlines, resulting in decreased impact of fuel price volatility, increased price certainty, reduced hedging costs and narrowed fuel costs. The aviation Industry uses two type of conventional fuel including aviation gasoline and jet fuel. Jet fuels are further are divided into two types based on the specifications such as kerosene-type and naphtha-type. Kerosene-type aviation jet fuel is the most commonly used fuel type in commercial aviation and bio-fuel can be an economical substitute for kerosene-type aviation fuels, known as bio-jet. Currently bio-fuel, in the form of ethanol is one of the largest domestic fuels used for cars and trucks which are blended into motor gasoline. Bio-fuel can be segmented on the basis of the production methods. There are chiefly two methods to produce bio-fuels such as Fischer-Tropsch (FT) and hydroprocessed esters to meet the American Society for Testing and Materials (ASTM) standards for aviation use. Bio-fuel as aviation fuel can be segmented according to the number of airports and air-carrier capacity in different regions [transparencymarketresearch.com]

» February 23 2015 - #ClimateChange, #SocioPoliticalIdentities, #Nature. [by Nature Climate Change] Public division about climate change rooted in conflicting socio-political identities. Of the climate science papers that take a position on the issue, 97% agree that climate change is caused by humans, but less than half of the US population shares this belief. This misalignment between scientific and public views has been attributed to a range of factors, including political attitudes, socio-economic status, moral values, levels of scientific understanding, and failure of scientific communication. The public is divided between climate change 'believers' (whose views align with those of the scientific community) and 'sceptics' (whose views are in disagreement with those of the scientific community). We propose that this division is best explained as a socio-political conflict between these opposing groups. Here we demonstrate that US believers and sceptics have distinct social identities, beliefs and emotional reactions that systematically predict their support for action to advance their respective positions. The key implication is that the divisions between sceptics and believers are unlikely to be overcome solely through communication and education strategies, and that interventions that increase angry opposition to action on climate change are especially problematic. Thus, strategies for building support for mitigation policies should go beyond attempts to improve the public's understanding of science, to include approaches that transform intergroup relations [nature.com]

» February 23 2015 - #NaturalGas, #ShaleGas, #US. [by O&GJournal] The Marcellus and Utica natural gas plays have made headlines for years, but moving the gas to end users to the East has not been easy due to a limited pipeline capacity. The Federal Energy Regulatory Commission has approved Constitution pipeline. Several other pending projects also seek to deliver Marcellus-Utica gas to customers in the Northeast, a region growing more dependent on gas for electric power generation. The Northeast's growing gas demand was made clear during the severe winter of 2013-14. According to a primer from the New York Independent System Operator-manager of New York's power grid-regional gas demand reached record levels in January 2014, prompting a rise in gas prices, which was passed on to electricity customers [ogj.com]

» February 23 2015 - #RenewableEnergy, #CPV, #NaturePaper. Wide-angle planar microtracking for quasi-static microcell concentrating photovoltaics. Concentrating photovoltaics offer a way to lower the cost of solar power. However, the existing paradigm based on precise orientation of large-area concentrator modules towards the Sun limits their deployment to large, open land areas. Here, we explore an alternate approach using high-efficiency microcell photovoltaics embedded between a pair of plastic lenslet arrays to demonstrate quasi-static concentrating photovoltaic panels <1cm thick that accomplish full-day tracking with >200x flux concentration ratio through small (<1 cm) lateral translation at fixed latitude tilt. Per unit of installed land area, cosine projection loss for fixed microtracking concentrating photovoltaic panels is ultimately offset by improved ground coverage relative to their conventional dual-axis counterparts, enabling a ~1.9x increase in daily energy output that may open up a new opportunity for compact, high-efficiency concentrating photovoltaics to be installed on rooftops and other limited-space urban environments [nature.com]

» February 23 2015 - #OilGasMarkets, #LatinAmericanEnergy, #CsisConference. Latin American Energy: An Oil and Gas Market Overview, Csis conference, 2:00 PM - 3:30 PM, Wednesday, February 25, 2015. Latin America's hydrocarbon potential has been widely discussed: the region is estimated to hold a fifth of the world's oil reserves and considerable shale gas potential. With recent improvements in the investment climates of several countries--most notably Mexico--coupled with expanded exploration elsewhere, including Brazil, Venezuela, Argentina and Colombia, the region has the resource potential to garner a larger role in the international energy landscape. Nonetheless, obstacles to increased production persist. Ranging from security issues to technological challenges to political hurdles, questions remain as to what the future will hold [csis.org]

» February 23 2015 - #GreenBuilding, #ClimateChangeMitigationOptions, #FaoConference. International online conference 'Economics of Climate Change Mitigation Options in the Forest Sector' organized by the FAO Forestry Department. Fifty one technical presentations combined with panel and plenary discussions provide an excellent opportunity for sharing country experiences during this event. [...] The next conference session, the Green Building conference session, will begin in 1 day: Green Building - online conference session, Tuesday 24 February - 3pm Rome time [fao.org]

» February 23 2015 - #NaturalGas, #EU, #Russia. [by OilPrice] Gazprom's dominance over European energy supplies may be beginning to slip. The collapse of oil prices has punished Gazprom's revenues, but in a new development that is further damaging to the Russian state-owned company, the European Union is also beginning to shake itself of Russian gas. Russian exports of natural gas through the Nord Stream pipeline - which runs from Russia to Germany across the Baltic Sea - have dropped by more than half in February from the same period last year, according to Reuters. Average daily deliveries have declined from 98 million cubic meters to 45 million cubic meters. For 2014 on the whole, the European Union reduced Russian gas imports by 9 percent, the fourth consecutive year of declines. There are several reasons for this. First, the European economy is growing slowly, if at all. That keeps a lid on natural gas consumption. Second, the 28-member bloc is actually making substantial progress on energy efficiency. Third, Europe has experienced a mild winter, lessening demand for natural gas supplies [oilprice.com]

» February 23 2015 - #Oil, #ShaleGas, #TightOil. [by Arthur Berman] Today's Shale Era Is The Retirement Party For Oil Production. A leading geologist delivers the hard facts [artberman.com]

» February 22 2015 - #Oil, #NaturalGas, #NuclearTalks, #Iran. [by Shana] A deputy petroleum minister has said that foreign investors are waiting for the result of Iran's nuclear talks before deciding to come to Iran. "All foreign parties are willing for presence in Iran, but they are waiting for the result of nuclear negotiations," Abbas Sheri-Moqaddam said. Sheri-Moqaddam, who is also head of National Petrochemical Company, said talks have been held directly and indirectly with potential foreign investors. [...[ Iran can provide a good venue for European financiers who are facing negative rate of return on investment in their own countries. "They will be very satisfied even if they gain 10% profit. Moreover, huge oil and gas reserves in Iran are a kind of guarantee for foreign investors," [...] Iran's free trade zones, proximity to Persian Gulf and the Sea of Oman as well as easy access to Central Asia, Iraq, India and China markets could be good advantages for investors [shana.ir]

» February 20 2015 - #NaturalGas, #AzerbaijanProduction. [by NaturalGasEurope] Azerbaijan's gas production hit a new record due to increased output from Stage 1 of the Shah Deniz gas field. 2014 saw 29.418 bcm of gas (+0.7%) of gas extracted in Azerbaijan with marketable gas production amounting to 18.728 bcm (+4.9%). British Petroleum (BP) Azerbaijan Co. reported today that gas production from Shah Deniz Stage 1 increased to its highest level since the field became operational in 2006, with opportunity for further growth. According to BP Azerbaijan report, during 2014 some 9.9 billion cubic meters of gas (bcm) and 2.3 million tons of gas condensate were produced from Shah Deniz Stage 1. Comparative figures for 2012 and 2013 were 7.73 bcm and 9.8 bcm of natural gas, respectively. The report says that optimization of the equipment would permit output to surpass 10.7 bcm in 2015 [naturalgaseurope.com]

» February 20 2015 - #Coal, #Nuclear, #RenewableEnergy, #Energiewende, #Germany. [by EnergyPost] Critics of renewable energy have mocked the Energiewende, claiming that it has led to an increase in coal power and related CO2 emissions in Germany. But Conrad Kunze and Paul Lehmann of the Helmholtz Centre for Environmental Research - UFZ show that this is a myth. German coal generation and CO2 emissions rose not because of but in spite of the Energiewende. They would have been even higher if Germany had not phased out its nuclear power and embarked on its remarkable renewable energy path [energypost.eu]

» February 20 2015 - #NaturalGas, #Offshore, #Pipeline, #Cyprus, #Egypt. [by Pennenergy] Cyprus and Egypt have tightened their energy cooperation with an agreement to sort out the technical details of laying an undersea pipeline that would carry offshore natural gas to Egyptian processing facilities. Egyptian petroleum minister Sherif Ismail and Cypriot Energy Minister Yiorgos Lakkotrypis agreed in Cairo on Monday to find a way to transport gas from a field off Cyprus that is estimated to hold 3.6 trillion to 6 trillion cubic feet of the fossil fuel. A statement said the details will be examined with other companies involved in gas transport and processing and a deal is expected to be hammered out within six months. Ismail said in November that his country is looking to import Cypriot gas both for domestic use and for possible re-export to other countries [pennenergy.com]

» February 20 2015 - #Oil, #TightOilProduction, #US. [by ArtBerman] U.S. tight oil production may fall 600,000 barrels per day by June 2015 based on reasonable projections of current rig counts. I compared the decrease in rig counts that began in late 2014 to the rig count decrease in 2008 and 2009 following the Financial Crisis. I projected current total rig counts according to three scenarios out to June 5, 2015 shown in the chart below. I then applied those decline rates to rig counts and production in the 4 major tight oil plays: the Bakken, D-J Niobrara, Eagle Ford and Permian basin [artberman.com]

» February 20 2015 - #OilMarket, #OilPrices, #US, #Eia. [by Reuters] Brent crude oil prices fell below $59 a barrel on Thursday after U.S. government data showed crude stocks hit a record high last week. U.S. commercial crude oil inventories rose by 7.7 million to a record 425.64 million barrels in the week ended Feb. 13, said the U.S. Energy Information Administration (EIA). The build exceeded analysts' expectations of a 3.2 million-barrel rise. Gasoline stocks rose by 485,000 barrels compared with analysts' expectations in a Reuters poll for a 167,000 barrels gain. Distillate stockpiles fell by 3.8 million barrels, versus expectations for a 2.1 million barrels drop. Crude stocks at the Cushing, Oklahoma, delivery hub rose 3.66 million to 46.26 million barrels, the EIA data showed [reuters.com]

» February 20 2015 - #ClimateChange, #GlobalCarbonBudget, #Canada. BCSEA Webinar: The 2040 Climate Imperative: Zero Emissions by 2040, on Tuesday February 24 at noon PST (3:00 PM EST, 20:00 UTC). The climate crisis is easy to understand once you have the key numbers. And those numbers lead to some clear and compelling conclusions. In this webinar, Guy Dauncey will show why the global carbon budget has fallen to 493 gigatonnes of CO2, and why all countries need to aim for zero emissions by 2040. He will explain Canada's share of the budget, show why Canada needs to reduce its emissions by 5% a year to remain within its budget and reach zero by 2040, and lay out the key roadmap actions and policies that would enable Canada to meet its target [bcsea.org]

» February 19 2015 - #NaturalGas, #Iran, #Qatar. [by Shana] Bank Mellat is investing $7 billion in six phases of the giant offshore South Pars gas field, managing-director of Bank Mellat said. Mohammad-Reza Saroukhani said the bank has agreed to invest in phases 13 and 20-24 of South Pars which Iran shares with Qatar in the Persian Gulf. He said that Bank Mellat has been serving as agent bank in oil projects which are financed by the National Development Fund of Iran (NDFI). He said Persian Gulf Star Refinery and three petrochemical projects are also to receive funding through Bank Mellat [shana.ir]

» February 19 2015 - #ShaleGas, #MethaneEmissions, #HydraulicFracking, #US, #NaturePaper. Study suggests methane leaks from gas fields overestimated. New data show that methane emissions from major natural gas fields in the eastern United States are relatively low, suggesting that overall methane emissions from gas production may not be as high as feared. Total methane emissions from three regions - the Haynesville, Fayetteville and Marcellus formations - average about 1% of the gas produced there. That is roughly in line with US government estimates and less than similar measurements published for older fields in the West, according to a study published on 18 February in the Journal of Geophysical Research. These formations are responsible for roughly 20% of the total US natural-gas production and 50% of the newer shale-gas production, which relies on hydraulic fracturing [nature.com]

» February 19 2015 - #RenewableEnergy, #SolarEnergy, #India, #Jobs, #CeewReport. New analysis released by the Council on Energy, Environment and Water (CEEW) and the Natural Resources Defense Council (NRDC) shows that achieving Prime Minister Modi's recently announced 100 gigawatt (GW) solar energy goal by 2022 could create as many as one million jobs, while greatly improving energy access for Indian citizens and fighting climate change. Achieving India's proposed target of 60 GW of wind energy by 2022 would also generate an additional 180,000 jobs. The analysis, Clean Energy Powers Local Job Growth in India, finds that the project planning, construction, installation and operations required to meet this solar goal could generate as many as 1,000,000 jobs in less than a decade. This projection does not include jobs created in the manufacturing sector, another significant jobs opportunity [ceew.in]

» February 19 2015 - #ClimateChange, #EnergyEfficiency, #FinancialInstruments, #EIB, #EU. New European support to address climate and biodiversity challenges. Two new financial instruments that aim to encourage greater private sector involvement in schemes that contribute to the twin climate priorities of reducing energy use and conserving natural capital, especially biodiversity, in Europe [...] The EIB and European Commission have joined forces to back investment through these two initiatives that support Europe's contribution to achieving global energy, climate and environmental goals. The Private Finance for Energy Efficiency and Natural Capital Financing Facility schemes will be formally launched in Brussels [...] It is expected that at least EUR 500 million of dedicated financing to reduce energy bills will be unlocked by the Private Finance for Energy Efficiency (PF4EE) scheme intended to increase specialist investment. The initiative will encourage local banks in a number of European countries to increase lending for energy efficiency projects by both providing long-term low-cost loans and credit risk protection to financial intermediaries, as well as improving lending expertise in the sector. The new initiative will be managed by the European Investment Bank and the European Commission will provide EUR 80 million for credit risk protection of energy efficiency loan portfolios and support of technical experts funded from the Life programme [eib.org]

» February 19 2015 - #WoodEnergy, #ClimateChangeMitigationOptions, #FaoConference. International online conference 'Economics of Climate Change Mitigation Options in the Forest Sector' organized by the FAO Forestry Department. Fifty one technical presentations combined with panel and plenary discussions provide an excellent opportunity for sharing country experiences during this event. [...] The next conference session (Wood Energy) is on Friday, 20 February, 2-4 pm, Rome time) [fao.org]

» February 18 2015 - #Energy&Water, #ClimateChange, #SchlumbergerBusinessConsultingEnergyInstituteFactBook. Introduction to the Water and Energy Challenge. The local Water-Energy equation. Energy & water are highly interconnected locally & globally. A new SBC Energy Institute FactBook finds that: Freshwater supply will not meet forecast demand, requiring compromises; Water shortages are already affecting energy supply; Location-specific solutions will be required. The FactBook provides: A global picture of the main water resources; An overview of the current and forecast mismatch between supply and demand, and its likely consequences if left unaddressed; A summary of water risks and their multi-dimensional nature. One of a series of FactBooks on the energy transition published by the SBC Energy Institute, a non-profit group created by Schlumberger Business Consulting in 2011 to provide expert analysis on energy technologies, this new publication also: Describes the water industry's principal value chains, market trends and promising solutions; Compares water consumption for different energy-production pathways; and Illustrates the impact water constraints have already had, and continue to have, on the development of conventional and unconventional resources [sbc.slb.com]

» February 18 2015 - #OilPrice, #WorldOilDiscoveries, #OilGlobalInvestment. [by OilPrice] Why Oil Prices Must Go Up. [...] While analyzing the short-term trajectory of oil prices is certainly important, it obscures the fact that over the long-term, oil exploration companies may struggle to bring new sources of supply online. Ed Crooks over at the FT persuasively summarizes the predicament. Crooks says that 2014 is shaping up to be the worst year in the last six decades in terms of new oil discoveries (based on preliminary data). Worse still, last year marked the fourth year in a row in which new oil discoveries declined, the longest streak of decline since 1950. The industry did not log a single "giant" oil field. In other words, oil companies are finding it more and more difficult to make new oil discoveries as the easy stuff runs out and the harder-to-reach oil becomes tougher to develop. The inability to make new discoveries is not due to a lack of effort. Total global investment in oil and gas exploration grew rapidly over the last 15 years. Capital expenditures increased by almost threefold to $700 billion between 2000 and 2013, while output only increased 17 percent [oilprice.com]

» February 18 2015 - #FossilFuelDivestment, #UK. [by the Guardian] Fossil fuel industry protests over 'risky' assets warning from energy secretary. The fossil fuel industry was deeply "unsettled" by comments from energy secretary Ed Davey raising the prospect that their assets could be rendered worthless by global action on climate change, according to a letter of protest sent to the secretary of state. [..] The strong reactions reveal the depth of concern inside fossil fuel companies at analyses showing there are already three times more fossil fuels in proven reserves than can be burned if global warming is to be limited to 2C, the pledge made by the world's nations. If a global climate deal makes good on that pledge, those coal, oil and gas reserves could become worthless, potentially losing investors trillions of dollars. Fossil fuel companies, which spent $650bn in 2013, searching for more reserves are also under attack from a fast-growing divestment campaign, which has persuaded over 180 groups to dump their fossil fuel stocks [theguardian.com]

» February 18 2015 - #PowerSector, #Supergrid, CarbonEmissionsCutting, #EU. [by Future Power Technology] By 2050 the European Union has the objective of cutting its carbon emissions by at least 80% below 1990 level, with an upper aim of 95%. For its part, the power sector is expected to slash carbon emissions by at least 93% in order for the objecteve to be achieved [...] Power generation is only half the battle. Successfully achieving the ambitious goals will also required sea change in how electricity is managed, stored an transmitted. The prime candidate for delivering this is to estabilish a supergrid across continent that connects the country-level network, while also linking up with offshore wind farms and other renewable energy infrastructure to enable the free flow of electricity across Europe. The recent decision by EU to allow France to provide state aid of Euro 86,6 milion for the development of technologies for such a supergrid, this is becoming even more of a reality [future-power-magazine]

» February 17 2015 - #EnergyOutlook2035, #EnergyDemand, USTightOil, #LNG, #Coal, #CarbonEmissions, #BP. [by BP] Despite the dramatic recent weakening in global energy markets, ongoing economic expansion in Asia - particularly in China and India - will drive continued growth in the world's demand for energy over the next 20 years. According to the new edition of the BP Energy Outlook 2035, global demand for energy is expected to rise by 37% from 2013 to 2035, or by an average of 1.4% a year. The Outlook looks at long-term energy trends and develops projections for world energy markets over the next two decades. The new edition was launched today in London by Spencer Dale, BP's group chief economist, and Bob Dudley, group chief executive. US tight oil grows. The Outlook projects that demand for oil will increase by around 0.8% each year to 2035. The rising demand comes entirely from the non-OECD countries; oil consumption within the OECD peaked in 2005 and by 2035 is expected to have fallen to levels not seen since 1986. By 2035 China is likely to have overtaken the US as the largest single consumer of oil globally. The current weakness in the oil market, which stems in large part from strong growth in tight oil production in the US, is likely to take several years to work through. In 2014, tight oil production drove US oil output higher by 1.5 million barrels a day - the largest single-year rise in US history. But further out, the growth in tight oil is likely to slow and Middle East production will gain ground once more. By the 2030s the US is likely to have become self-sufficient in oil, after having imported 60% of its total demand as recently as 2005. Gas rising fast; coal slow. Demand for natural gas will grow fastest of the fossil fuels over the period to 2035, increasing by 1.9% a year, led by demand from Asia. Half the increased demand will be met by rising conventional gas production, primarily in Russia and the Middle East, and about a half from shale gas. By 2035, North America, which currently accounts for almost all global shale gas supply, will still produce around three quarters of the total. Coal had been the fastest growing of the fossil fuels over the past decade, driven by Chinese demand. However over the next 20 years the Outlook instead sees coal as the slowest growing fossil fuel, growing by 0.8% a year, marginally slower than oil. The change is driven by three factors: moderating and less energy-intensive growth in China; the impact of regulation and policy on the use of coal in both the US and China; and the plentiful supplies of gas helping to squeeze coal out from power generation. LNG grows, becoming dominant in trade. As demand for gas grows, there will be increasing trade across regions and by the early 2020s Asia Pacific will overtake Europe as the largest net gas importing region. The continuing growth of shale gas will also mean that in the next few years North America will switch from being a net importer to net exporter of gas. The overwhelming majority of the increase in traded gas will be met through increasing LNG supplies. Production of LNG will show dramatic growth over the rest of this decade, with supply growing almost 8% a year through the period to 2020. This also means that by 2035 LNG will have overtaken pipelines as the dominant form of traded gas. Increasing LNG trade will also have other effects on markets. Over time it can be expected to lead to more connected and integrated gas markets and prices across the world. And it is also likely to provide significantly greater diversity in gas supplies to consuming regions such as Europe and China. Energy flowing east. Energy self-sufficiency in North America - which is expected to become a net exporter of energy this year - and increasing LNG trade are also over time expected to have fundamental impacts on global energy flows. Increased oil and gas supplies in the US and lower demand in the US and Europe due to improving energy efficiency and lower growth will combine with continuing strong economic growth in Asia to shift the energy flows increasingly from west to east. Carbon emissions continue to grow. The Outlook also considers global CO2 emissions to 2035 based on its projections of energy markets and the most likely evolution of carbon-related policies. Its projection shows emissions rising by 1% a year to 2035, or by 25% over the period, on a trajectory significantly above the path recommended by scientists as illustrated, for example, by the IEA's "450 Scenario." To abate carbon emissions further will require additional significant steps by policy makers beyond the steps already assumed, and the Outlook provides comparative information for possible options and their relative impacts on emissions. However, as no one option is likely to be sufficient on its own, multiple options will need to be pursued. This underlines the importance of policymaking taking steps that lead to a meaningful global price for carbon which would provide incentives for everyone to play their role in meeting the world's increasing energy needs in a sustainable manner [bp.com]

» February 17 2015 - #OilCrisis, #OilPrices, #Libya, #Iraq, #Kurdistan #Dollar, #US, #EU, #Greece, #Geopolitics. [by Reuters] Oil prices were little changed on Monday after touching their highest nearly two months, as gains in the dollar following the collapse of Greek debt talks offset growing violence in Libya and concerns over exports from Kurdistan. The U.S. dollar index reversed early losses to trade higher by midday on Monday after talks between Greece and euro zone finance ministers broke down when Athens rejected a proposed six-month extension of its bailout. In thin activity, oil prices had earlier pushed to a new 2015 high amid supply worries in two big oil producers. Egypt bombed Islamic State targets inside Libya on Monday and Cairo renewed calls for a U.S.-led coalition to confront militants there a day after the group released a video appearing to show the beheading of 21 Egyptians. In Iraq, a deal aimed at resolving a dispute between Baghdad and Kurdish authorities over oil export revenues looked fragile after Kurdish Prime Minister Nechirvan Barzani cautioned Baghdad against breaking its side of the bargain. The December pact allowed for shipping some 550,000 barrels per day of oil. "The geopolitical risk is not something to write off," said Olivier Jakob, oil analyst at Petromatrix in Zug, Switzerland [reuters.com]

» February 17 2015 - #FossilFuelSubsidies, #ClimateChange, #EnergyPolicy, #EmissionsReduction, #NordicReport. Fossil-Fuel Subsidies and Climate Change: Options for policy-makers within their Intended Nationally Determined Contributions. Every year governments spend $543 billion subsidising fossil-fuels. This report finds that removing these subsidies could lead to global GHG emissions reductions of between 6-13% by 2050. With potential domestic savings to government of between 5-30% of expenditures, and in the context of the low oil price many governments are removing subsidies. This report shows how to include national emissions reduction estimates within country contributions towards the UNFCCC using the Global Subsidies Initiative – Integrated Fiscal (GSI-IF) model [norden]

» February 17 2015 - #Oil, #NaturalGas, #Coal, #EnergyPolicy, #Economics, #China. [by Pipeline] Over the past two decades, commodity demand growth had maintained relatively proportionate annual increases to GDP growth. In 2014 however the pace of power, gas, coal and diesel demand increase fell more drastically than the slight GDP moderation, beyond expectations. Wood Mackenzie expects gas demand will recover in one to two years as the key drivers of slower growth are mainly cyclical but power, coal and diesel demand will see their outlook change notably over the long-term due to major structural changes in the economy and policy. Global energy sector will need to identify which changes are structural or cyclical in to determine future demand patterns and opportunities. China's GDP grew by 7.4 per cent in 2014 compared to 7.7 per cent in 2013, a modest decline. Meanwhile, compared to 2013 power demand growth fell by almost half; gas demand growth fell by more than 8 percentage points; coal demand barely grew; and diesel demand actually contracted for the first time in more than a decade [pipelineme.com]

» February 17 2015 - #GlobalEnergyIssues, #BPEnergyOutlook2035. What will the world's energy mix look like in 2035? Which fuels will gain - and lose - global market share? What is the outlook for US tight oil and shale gas supply, and what will the US energy renaissance of recent years mean for global markets into the future? What changes are likely for China (the world's biggest energy consumer)? What are the implications for CO2 emissions? And, with the oil price in the spotlight, what are the forces that will influence energy prices over the decades to come? The BP Energy Outlook 2035 - February 2015 contributes to the wider debate on global energy issues by asking these and many other questions. The report will be available for download from 17 February. Tuesday 17 February 2015, 3:00pm GMT /10:00am EST, Live webcast - registration open [bp.com]

» February 16 2015 - #Energy, #Economics, #CO2Emissions, #China. [by World Review] China's economy has shifted from high-speed to medium-speed growth - the New Normal. Economic growth will remain at the 'normal' range of around seven per cent, rather than the average 10 per cent of the past decade. This means moving to healthier, more sustainable growth in terms of finance, environment, and social development, says China's leader Xi Jinping. How China's energy future will be affected under the policy of New Normal has been laid out in the country's newly published Energy Development Strategy Action Plan (2014-2020). The Chinese economy is fuelled by raw materials supplied worldwide. China is now the world's biggest energy consumer and carbon emitter. It imports close to 60 per cent of its oil, 30 per cent of natural gas, and 60 per cent of iron ore. It also ranks number one in soy bean imports, taking 56 per cent of the global share, and ranks number two in global rice imports [...] The Chinese government is now determined to replace coal and related industries with renewables such as gas, solar, wind, and nuclear power [worldreview.info]

» February 16 2015 - #EuDecarbonisation, #EuEts, #LowCarbonEconomy, #ResearchPaper, #Climatestrategies. Is a Market Stability Reserve likely to improve the functioning of the EU ETS? Evidence from a model comparison exercise. In January 2014 the European Commission proposed the introduction of a Market Stability Reserve (MSR) to improve the functioning of the European Union Emissions Trading System (EU ETS). According to the European Commission, the MSR is designed to adjust the EU ETS to supply-demand imbalances and protect the system from unexpected and sudden demand shocks and by doing so, ensure an efficient abatement pathway for the long-term decarbonisation of the European economy (European Commission, 2014). We explore what market and regulatory failures could inhibit the functioning of the EU ETS and result in deviations from the efficient abatement pathway. Different research teams explore the implications of potential market and regulatory failures and/or inefficient responses to incomplete or complex information. Simulation models show that each of these factors can result in deviations from the efficient abatement pathway, and that an MSR can restore some of the lost efficiency. In considering MSR designs, an Early Start MSR (2017) with the back-loaded allowances placed directly into the reserve is shown to improve the performance compared to an MSR implemented in 2021. Laboratory experiments with human subjects show the importance of the quantity trigger levels and point to the importance of review provisions for adjustments in the early 2020ss to ensure private banking requirements can be met [climatestrategies.org]

» February 16 2015 - #OilCrash, #OilPrices, #OilSupply, #OilDemand, #US, #Opec, IeaMtomr, #Csis. CSIS, the IEA's 2015 Medium-Term Oil Market Report (MTOMR), 9:30 AM - 10:45 AM Friday, February 27, 2015. According to the MTOMR, the recent crash in oil prices will cause the oil market to re-balance in ways that challenge traditional thinking about the responsiveness of supply and demand. The report is an attempt to comprehensively chart how the market response to the lower prices is likely to unfold, including an analysis of impacts on demand, OPEC and non-OPEC supply, refining, crude trade and product supply. On the supply side, its forecast reflects not just lower price assumptions, but also the high price-responsiveness of US light tight oil compared with conventional crude, as well as OPEC's embrace of market forces in late 2014 in a bid for market share. On the demand front, it shows how the response to lower prices will differ this time around from that of prior episodes of re-balancing [csis.org]

» February 15 2015 - #OilInvestment, #OilExportingCountries, #Offshore, #Brazil. [by offshore-mag] Brazil has ambitions to become one of the largest oil exporters in the world over the next decade or two, but the country's ability to reach that goal is the pressing question. In September 2014, Brazilian federal energy planning company Empresa de Pesquisa Energetica (EPE) laid out its 10-year plan for energy expansion, which foresees that the country will be able to produce 5 MMb/d of oil by 2023. That would be a significant jump from the roughly 2 MMb/d of oil the South American nation currently produces. According to the EPE, domestic demand will only consume approximately 3.5 MMb/d, leaving 1.5 MMb/d to be directed for export to the international market. A significant level of investment will need to be placed in Brazil's hydrocarbon segment if this goal is to be reached. Of the BRL 1.26 trillion ($540 billion) the EPE believes will be spent on energy projects in the country over the next decade, including electricity generation and biofuels, 61.6%, or BRL 778 billion ($332.7 billion), will need to go toward the exploration of oil and natural gas. It is likely that a large portion of that investment will be spent on presalt areas, as the EPE expects two-thirds of oil production to come from those fields by 2023 [offshore-mag.com]

» February 14 2015 - #ClimateFinance, #CarbonAssetRiskInitiative, #CERES. Through Ceres' Carbon Asset Risk Initiative, investors are urging the industry to adapt, transitioning toward cleaner, low-carbon energy sources including renewables and energy efficiency. It's the only way these companies will remain successful as the world moves to reduce reliance on fossil fuels, accelerate renewable energy and reduce overall carbon emissions to tackle climate change [ceres.gov]

» February 14 2015 - #EnergyTransition, #US. Energy Secretary Ernest Moniz announced the launch of the Office of Technology Transitions (OTT) to help expand the commercial impact of the Department of Energy's (DOE) research. The office will work closely with the national laboratories and engage with industry to commercialize technology and strengthen the global competitiveness of U.S. industries based on scientific and technological innovations [energy.gov]

» February 13 2015 - #OilCrisis, #Geopolitics, #US. [by energypost.eu] Republican leaders in the US have developed a geopolitical strategy, which, according to famous energy author Michael Klare, is "nothing less than a plan to convert Canada and Mexico into energy colonies of the United States, while creating a North American power bloc capable of aggressively taking on Russia, China and other foreign challengers". He warns that this vision of a "North American energy fortress", which Republican presidential hopefuls are already campaigning for, and which is strongly backed by ExxonMobil and other oil companies, will prove to be a "nighmare of environmental degradation and global conflict" [energypost.eu]

» February 13 2015 - #OilCrisis, #Geopolitics, #US. [by energypost.eu] Republican leaders in the US have developed a geopolitical strategy, which, according to famous energy author Michael Klare, is "nothing less than a plan to convert Canada and Mexico into energy colonies of the United States, while creating a North American power bloc capable of aggressively taking on Russia, China and other foreign challengers". He warns that this vision of a "North American energy fortress", which Republican presidential hopefuls are already campaigning for, and which is strongly backed by ExxonMobil and other oil companies, will prove to be a "nighmare of environmental degradation and global conflict" [energypost.eu]

» February 13 2015 - #RenewableEnergy, #EU. [by ecohz.com] The European market for renewable energy, documented with Guarantees of Origin, increased by 26.5 % in 2014 compared to 2013. For the first time, the demand surpassed 300 TWh states the statistics from the Association of Issuing Bodies (AIB). This is nearly one tenth of all electricity demand in Europe (ca. 3,300 TWh) and one third of all electricity from renewable sources in Europe (ca. 900 TWh) [ecohz.com]

» February 13 2015 - #NaturalGas, #TurkishStream, #SouthStream, #Turkey, #Azerbaijan, #Russia, #Turkmenistan, #EU. [by eurasianet.org] Could Turkey Become the New Ukraine? The deepening crisis in Ukraine is boosting Turkey's decade-long efforts to establish itself as the lynchpin in energy flows from eastern providers to European customers. On February 8, Turkish Energy Minister Taner Yildiz and Gazprom Chief Executive Officer Alexei Miller surveyed possible routes for the so-called "Turkish Stream" gas pipeline, a multi-billion-dollar project that could funnel up to 63 billion cubic meters of natural gas under the Black Sea from Russia to Turkey, and on to Greece and the European Union. The project, announced by Russian President Vladimir Putin during a December 2014 state visit to Turkey, shook the energy world. It would supersede the partially built Russia-to-Bulgaria "South Stream" pipeline.In mid-January, Moscow announced Turkish Stream would replace its existing pipelines crossing Ukraine to European markets. Construction of the Turkish Stream's first section should be completed by December 2016, according to Gazprom [eurasianet.org]

» February 13 2015 - #ShaleOil, #OilCrisis, #Fracking, #CarbonMarket, #CCS, #US. [by oilprice.com] In 2013, US shale was responsible for approximately 20 percent of world investment in oil, while only supplying four percent of global production. The figures today are even grimmer. Baker Hughes is cutting 7,000 jobs; Halliburton, 6,500; Schlumberger, 9,000. The national oilrig count has sunk to a three-year low. Chevron is slashing its budget 13 percent relative to last year; ConocoPhillips, 20 percent; ExxonMobil prefers not to say for now. Pick a metric and I can find two that are trending downward. For US shale, this is largely a self-inflicted wound. Up 80 percent since 2008, US oil production was never supposed to be here - not again at least. Booming production met an unprepared and reasonably saturated market and the rest is history, still in the making. West Texas Intermediate (WTI) is in the $50 - $52 per barrel range, and threatening lower as plays in the Bakken, Eagle Ford, and Permian basins continue to churn out more [...] An old, but increasingly interesting technique is the gas frack. More specifically, dry fracking, or gas fracking - which usually isn't dry - utilizes gas liquids or carbon dioxide (CO2) instead of water as the primary medium to create underground fissures [oilprice.com]

» February 13 2015 - #NaturalGas, #EnergySecurity, #EU, #Towards2030DialogueReport. In this paper the results of a coordinated modelling assessment are presented, where gas market impacts of European energy efficiency and renewable policies integrated with two possible gas market development scenarios are evaluated. The two energy efficiency and renewable scenarios were developed by Fraunhofer ISI and TU Vienna, while the gas market modelling was carried out by REKK. A detailed statistical coverage on the gas supply security situation of 12 selected Member States (12 MS), those most vulnerable to Russian gas supplies, was also provided by ECN. In this assessment two gas demand levels are analysed (Limited and Full cooperation scenarios) according to the stringency of renewable (RES) and energy efficiency (EE) policies bringing different level of gas demand reduction [towards2030.eu]

» February 12 2015 - #ShaleOil, #Cowboyistan, #US. [by Oil & Gas Financial Journal] We're entering a new era in oil, said Continental Resources president and COO Jack Stark, and it's time for the US to compete globally in the free market. Stark delivered the keynote address Wednesday morning at the NAPE Business Conference in Houston. What the industry has accomplished in recent years is "nothing short of amazing…world changing," he said. In 2005, net imports made up 60% of US consumption. By 4Q14, that percentage had dropped to 25%. Crediting technology for the remarkable growth in US production since 2010, Stark said advances have "established a whole new class of reservoirs." It's no surprise that by unlocking source rock, the US has greatly improved production, but adding scale to the numbers, Stark pointed out that by combining new Permian, Bakken, and the Eagle Ford into one entity dubbed "Cowboyistan," you're looking at the world's number seven petroleum/liquids producer [ogfj.com]

» February 12 2015 - #NaturalGas, #UAE, #ADNOC. [by WAM, Emirates news agency] Abu Dhabi National Oil Company, ADNOC, has initiated the IGD-E project as a priority in developing and expanding current facilities to boost gas exports from offshore to onshore in order to satisfy the increasing demand for gas locally. On behalf of ADNOC, Abu Dhabi Gas Industries, GASCO, and Abu Dhabi Gas Liquefaction Company, ADGAS, have confirmed the award of the following contracts for Engineering, Procurement, Construction and Commissioning (EPC) works for the Integrated Gas Development Expansion (IGD-E) Phase 1 Project on Lump Sum Turnkey Basis, as follows; Das Island facilities (Package No. 1), Offshore Pipeline (Package No. 2), Onshore Pipeline and Habshan Modifications (Package No. 3) [wam.ae]

» February 12 2015 - #CarbonMarket, #EmissionsTrading, #ICAPReport. Ten years following the introduction of the pioneering emissions trading system (ETS) in the European Union, emissions trading has spread worldwide. As of 2015, there are 17 distinct ETS in force across four continents. The Republic of Korea launched their national system in January 2015 and China is rapidly developing a national carbon market, expected to start as early as 2016. The International Carbon Action Partnership (ICAP) has just released its 'Emissions Trading Worldwide: ICAP Status Report 2015' offering insights from ETS practitioners working across the globe, detailed factsheets on existing and planned ETS and key infographics that highlight the latest developments in emissions trading [icapcarbonaction.com]

» February 12 2015 - #Coal, #CleanCoalTech, #DisinvestingFossilFuel, #CCS, #WCA. [by The Times] The world's largest coalminers are forming a new initiative to bring cleaner power plant technology to developing countries to ward-off the burgeoning pressure for pension funds to divest fossil fuel producers. The World Coal Association, which comprises the likes of Anglo American, Rio Tinto and Glencore, argues that divestments of coal producers would ultimately damage the environment by deterring investment in cleaner coal-fired power stations and, ultimately, in carbon capture storage technology [thetimes.co.uk]

» February 12 2015 - #LowCarbonTransition, #BioEnergyCarbonCaptureSequestration, #BECCS, #NaturePaper. [by Nature] Sustainable biomass can play a transformative role in the transition to a decarbonized economy, with potential applications in electricity, heat, chemicals and transportation fuels. Deploying bioenergy with carbon capture and sequestration (BECCS) results in a net reduction in atmospheric carbon. BECCS may be one of the few cost-effective carbon-negative opportunities available should anthropogenic climate change be worse than anticipated or emissions reductions in other sectors prove particularly difficult. Previous work, primarily using integrated assessment models, has identified the critical role of BECCS in long-term (pre- or post-2100 time frames) climate change mitigation, but has not investigated the role of BECCS in power systems in detail, or in aggressive time frames, even though commercial-scale facilities are starting to be deployed in the transportation sector. Here, we explore the economic and deployment implications for BECCS in the electricity system of western North America under aggressive (pre-2050) time frames and carbon emissions limitations, with rich technology representation and physical constraints. We show that BECCS, combined with aggressive renewable deployment and fossil-fuel emission reductions, can enable a carbon-negative power system in western North America by 2050 with up to 145% emissions reduction from 1990 levels. In most scenarios, the offsets produced by BECCS are found to be more valuable to the power system than the electricity it provides. Advanced biomass power generation employs similar system design to advanced coal technology, enabling a transition strategy to low-carbon energy [nature.com]

» February 11 2015 - #OilPriceCrisis, #ThomsonReutersReport. [by Thomsos Reuters] A brief history of the oil crash. On June 22 last year, two tankers loaded 1.3 million barrels of crude at the port of Tobruk in eastern Libya and signalled the end of a decade-long boom in oil markets. Just three days earlier, benchmark Brent peaked at almost $116 per barrel, the highest level for 2014, before beginning a relentless slide that would see prices sink by more than 60 percent over the next seven months. The reopening of Libya's ports and oilfields, which had been closed for months by unrest, marked the oil market's tipping point. Libya's production, which had dropped to 250,000 barrels per day (bpd) in April, May and June from around 1.8 million bpd before the country's civil war in 2011, rebounded to almost 900,000 bpd over the next three months. The increase was significant, but not because of the volume. World production and consumption of oil are around 93 million bpd so the extra 600,000 bpd amounted to less than 1 percent of daily demand. The resumption of Libyan exports mattered because it was so unexpected [reuters.com]

» February 11 2015 - #ClimateAction, #DisinvestingFossilFuel. Global Divestment Day. [by gofossilfree] "As governments fail to take bold action to confront the climate crisis and fossil fuel expansion continues at an ever increasing pace, it's time for us to take matters into our own hands. Last September hundreds of thousands of people took to the streets as part of the People's Climate March and global mobilisation making history with our collective demand for climate action. Worldwide people are standing up to the interests of the fossil fuel industry knowing they are the biggest obstacle to tackling the climate crisis. The fossil fuel industry has our political process in shackles with its financial might. But we are matching their financial might with a different kind of power. The power that comes from movements and the movement of the moment is divestment. [...] The divestment campaign highlights a conflict that most politicians are reluctant to address. If the world is to avoid catastrophic global warming, most known fossil fuel resources need to stay in the ground. Yet fossil fuel companies not only plan to extract and sell their existing reserves but are exploring ever more sensitive territory to find new ones, thus ruining any chance of securing a safe planet. [...] February 13-14 for Global Divestment Day to take action and demand institutions and individuals do what is necessary for climate action by divesting from fossil fuels. On Global Divestment Day we will move our public money out of fossil fuels and call on others to do the same. Together we will directly challenge the social license of the fossil fuel industry and break the climate deadlock before it's too late. Together, we will begin to make fossil fuels history" [gofossilfree.org]

» February 11 2015 - #NaturalGas, #Turkmenistan, #China, #iran, #Russia. [by Natural Gas Europe] For first time, Turkmenistan announced exaction volumes of planned gas production and export, which the country is to increase in 2015. The statement from Ashgabat came last week while Russia announced that Turkmen gas imports will decrease by 6.5 billion cubic meters per annum (bcm/a) to 4 bcm/a in 2015. Russian giant Gazprom's Deputy Chairman Alexander Medvedev said that based on 2015 contracts, Russia's gas purchases from Uzbekistan also will decrease from 3.8 billion in 2014 to one bcm/a in current year. Russia purchased 19.6 bcm of Turkmen gas in 2012 but gradually decreased this volume. Turkmenistan reportedly exported approximately 6 bcm of gas to Iran in 2014, which increased the volume since fall to above 35 to 38.5 mcm/d. It is expected that the country's gas export to Iran stood at around 9 to 10 bcm in 2014. According to China's Custom report released on January 26th, China recieved 25.9 bcm of Turkmen gas in 2014, less than the 30 bcm/a agreed between state-owned companies Turkmengaz and China National Petroleum Corp. The two companies also agreed to boost China's imports of Turkmen gas to 40 Bcm/a in 2015 [naturalgaseurope.com]

» February 11 2015 - #RenewableEnergy, #FossilFuel, #IrenaReport. [by RT] The cost of supplying wind and solar energy has been plummeting since 2010, with accelerated deployment putting it on par with the costs of fossil fuel energy generation in some of the areas, says the International Renewable Energy Agency (IRENA). Hydro, biomass, geothermal and wind power are now competitive with or cheaper than coal, oil and gas-fired power stations, despite oil prices are falling , according to a IRENA report. The IRENA study called Renewable Power Generation Costs in 2014, shows how renewable energy technology has changed over the past four years [rt.com]

» February 11 2015 - #Climate Change, #GreenEconomy, #GreenGrowth, #LowCarbonEconomy, #UK, #Confererence. The Grantham Research Institute on Climate Change and the Environment (London School of Economics and Political Science), Green Growth and the New Industrial Revolution Conference. The conference will present the key results from a two year research programme conducted by the Grantham Research Institute on Climate Change and the Environment (GRI) and supported by the Global Green Growth Institute(GGGI). Its aim has been to understand better the links between environmental protection, growth and development (focusing on climate change) and to strengthen the analytical and empirical underpinnings of the 'green growth' concept in relation to both developing and developed countries. The full day event will feature GRI researchers and invited experts and include sessions on the following: The 'green growth' narrative and the GRI research programme; Macroeconomics: jobs, poverty and green growth; Assessing the impacts of innovation and other climate-change policies; Evidence from economic history about the sources of growth and the role of policy; Growth and adaptation to climate change; The future of the green growth paradigm. Date: 26 March, 2015, 8:30 am - 5:45 pm. Venue: Royal Society of Arts, 8 John Adam Street, London [lse.ac.uk]

» February 10 2015 - #RenewableEnergy, #America, #US, #BnefReport. [by BNEF] The United States saw continued growth in renewable energy, natural gas and energy efficiency in 2014, according to the third annual Sustainable Energy in America Factbook. The Factbook shows that U.S. deployment of sustainable energy increased as prices continued to fall and that investment in U.S. clean energy grew at a higher rate. Analysts at Bloomberg New Energy Finance who prepared the Factbook for the Business Council for Sustainable Energy found that "over the 2007-2014 period, U.S. carbon emissions from the energy sector dropped 9%, U.S. natural gas production rose 25% and total U.S. investment in clean energy (renewables and advanced grid, storage and electrified transport technologies) reached $386 billion." [bnef.com]

» February 10 2015 - #OilPrice, #OilRevenues, #IranBudget. [by Shana] Next year's budget bill has been arranged in a way that oil price fluctuations will not be able to destabilize revenues, deputy chairman of integrated commission of Parliament Ahmadreza Dastgheib said. [...] "With regard to uncertainty about realization of oil revenues and special economic circumstances of the country, we have considered two ceiling for budget revenues in next year's public budget which relief our worries about not realization of anticipated revenues" [...] While this year's budget was dependent on oil revenues by 39.3 percent, next year budget relies on oil revenues by 36.3 percent, equivalent to 530 trillion IR rials which is less than 710 trillion rials had been proposed in next year's budget draft, according to the legislator. [...] based on our calculations, even if oil prices edges down to 40 dollars per barrel, it will not negatively impact on earnings of next year's budget [shana.ir]

» February 10 2015 - #CCS, #FutureGen2.0, #US. [by REneweconomy] In another blow to promoters of carbon capture and storage (CCS) the much-touted FutureGen 2.0 coal power project in Illinois has collapsed following a US Department of Energy decision to withdraw funding for the plant. While the concept of the FutureGen project dates back to approximately 2003, the real impetus came from a federal government process seeking bids from state governments wanting to host potential CCS projects [reneweconomy.com.au]

» February 10 2015 - #EnergyConsumption, #EnergyProduction, #EnergyDependency, #EU, #Eurostat. In 2013, gross inland energy consumption, which reflects the energy necessary to satisfy inland consumption, amounted in the European Union (EU) to 1 666 million tonnes of oil equivalent (Mtoe), back to its early 1990s level and down by 9.1% compared to its peak of 1 832 Mtoe in 2006. In 2013, nuclear energy (29%) accounted for the largest share of EU domestic production of energy, ahead of renewables (24%), solid fuels (20%), gas (17%), oil (9%) and non-renewable wastes (1%). In total, the EU produced 790 Mtoe of energy in 2013. As a result, the EU was dependent on energy imports for slightly over a half (53%) of its consumption in 2013 [ec.europa.eu]

» February 10 2015 - #OilPriceCrisis, #OilDrillingPlunge, #US. [by Oil & Gas Journal] The US drilling rig count plunged 87 units, a decline that was again spurred mostly by oil rigs, to settle at 1,456 rigs working during the week ended Feb. 6, Baker Hughes Inc. reported. That total is the lowest since Mar. 26, 2010, and 315 units fewer compared with this week a year ago. The count has now fallen 10 consecutive weeks, losing 464 units during that time, of which 435 were targeting oil (OGJ Online, Dec. 5, 2014). The average US rig count for January was 1,683, down 199 from December 2014 and 86 from January 2014. During the week, land rigs plunged 85 units to 1,397. Rigs drilling in inland waters dropped 3 units to 9. Offshore rigs edged up a unit to 50. Oil rigs plummeted 83 units to 1,140, while gas rigs dropped 5 units to 314. Rigs considered unclassified edged up a unit to 2. Horizontal drilling rigs plunged 80 units to 1,088. Since Nov. 21, 284 units have gone offline. Directional drilling rigs fell 5 units to 135 [ogj.com]

» February 09 2015 - #EnergyTransition, #LowCarbonElectricity, #Renewable, #Decarbonization, #Nuclear, #EconomicCrisis, #EU, #EurelectricReport. A sector in transformation: Electricity industry trends and figures. [...] In 2013, for the second year in a row, more than half of the electricity generated in Europe came from low-carbon facilities. Of the 3101 TWh of electricity produced in 2013 in EU 28, 27% came from renewables and another 27% from nuclear. The structure of the power industry is changing rapidly, with a growing diversification of its portfolio towards variable generation sources and a stronger focus on developing smart meters and empowering customers. Of the newly installed renewables capacity in 2013, 80% were added by large utilities, making the European utility business a world sustainability leader. These results are a direct consequence of the commitments made by power companies since the inception of the EU's climate policies to actively contribute to the decarbonisation process. Going down the decarbonisation path, the economic crisis that hit Europe in 2009 and the prolonged effects of recession have put strains on the European climate ambition, somewhat blurring some of the results and placing increased emphasis on policy costs [eurelectric.org]

» February 09 2015 - #Oil, #Kashagan, #Saipem, #Italy, #Kazakhstan. Saipem, through its subsidiary ERSAI Caspian Contractor LLC, has been awarded a major new Engineering & Construction contract for the Kashagan field project, located in the Kazakh waters of the Caspian Sea, valued at approximately $1.8 billion. The North Caspian Operating Company (NCOC) has awarded Saipem a contract for the construction of two 95 kilometer pipelines, which will connect D island in the Caspian Sea to the Karabatan onshore plant in Kazakhstan. The scope of work includes the engineering, the welding materials, the conversion and the preparation of vessels, the dredging, the installation, the burial and the pre-commissioning of the two pipelines. Some of the scope will be executed with specialized subcontractors. The two pipelines, with a diameter of 28 inches, are made of carbon steel, internally cladded with a corrosion resistant alloy layer, and will each have an offshore length of about 65 out of the total 95 km. The construction will be completed by end of 2016 [saipem.com]

» February 09 2015 - #ClimateFinance, #GreenClimateFund, #ParisCop2015. A new Heinrich Boll Foundation North America report provides a comprehensive summary of the status of decision-making towards full operationalization of the Green Climate Fund ahead of its 9th Board meeting in March in Songdo, where the Fund hopes to accredit its first implementation partner institutions. The GCF agenda for the year ahead will be ambitious and politically driven as the success of the Board in making the first financing decisions on non-readiness activities at its last meeting of 2015 as planned is intrinsically linked to the success of the Paris COP in reaching a new global climate agreement [us.boell.org]

» February 09 2015 - #ShaleOil, #US . [by ABO] The USA looks beyond shale oil. Among the effects of the oil price crash has been to make shale oil production less competitive. Obama is looking for alternatives before it's too late. Last week the Obama administration announced their intention to increase extraction activities along the Atlantic coast, from Virginia to Georgia, as part of an increase in offshore development that will not be easy to realise and in any case will likely not see the light of day before 2017. The plan has also attracted some criticism for the unknown effects it will have on the environment, but in any case it would be a victory for the American oil and gas sector [abo.net]

» February 09 2015 - #ClimatePolicy, #TechnologyDevelopmentTransfer, #ResearhPapers. A recent Climate Policy Journal special issue on Climate Policy for Technology Development and Transfer [...] aims to offer insights to climate policy makers as to the nature of domestic policy in deploying climate mitigation technologies in developing countries, the role of firms in all countries involved in this process, and the linkages between domestic technology approaches and international climate policies. In addition, as a contribution to the policy research literature, the special issue takes forward the interdisciplinary discussion on how to advance technology transfer through better national and international climate policies [tandfonline.com]

» February 08 2015 - #ClimateChange, #Economics, #MitigationOption, #ForestSector, #FaoOnlineConference. The International online conference 'Economics of Climate Change Mitigation Options in the Forest Sector' organized by the FAO Forestry Department, 6-27 february 2015. It will run in the next three weeks in February with six sessions covering afforestation and reforestation, reducing deforestation and degradation, changing forest management practices, wood energy, green building, and sustainable packaging. With 50 technical presentations including case studies from 25 countries, combined with panel and plenary discussions, the conference is expected to provide an excellent platform for sharing of experiences from around the world. In recent decades, there has been growing interest in the role of forests and forest products in climate change mitigation. This has resulted in a number of initiatives such as REDD+, the development of markets for forest carbon, the promotion of green building and other wood uses and many policies to encourage the development and use of bioenergy. While the range of potential mitigation options in the forest sector is quite wide, many countries and regions have tended to focus largely on one or two options in their investments and policy measures. It is likely that this is partly due to a lack of information about the costs and benefits of different options and uncertainties about the feasibility of implementing various policy measures. This online conference will explore how a wide range of different interventions in the forest sector might help to mitigate climate change, based on existing country experiences as well as analyses of the costs and benefits of various options under a range of different circumstances. Sessions: Afforestation and reforestation (6 Feb); Reduced deforestation and degradation (13 Feb); Changing forest management practices (17 Feb); Wood energy (20 Feb); Green building (24 Feb); Sustainable packaging (27 Feb) [fao.org]

» February 07 2015 - #OilPriceRebound, #CapitalExpediture, #Exxon, #Shell, #Chevron, #ConocoPhillips, #BP. [by Oilprice] This Week In Energy: Is Oil Back? Oil Prices are flirting with a rebound, poised to jump the most in four years for the week ending on February 6. The markets do not know what to make of the current pricing situation, as volatility is also at a multi-year high. But major capital expenditure cuts from the big boys - billions of dollars are set to be slashed by ExxonMobil (NYSE: XOM), Royal Dutch Shell (NYSE: RDS.A), Chevron (NYSE: CVX), ConocoPhillips (NYSE: COP), and BP (NYSE: BP) - are signaling that the bottom is coming into view. Rig counts also continue to slide at a rapid clip. Oil prices took a pause mid-week, erasing much of their 19% gain after the EIA reported that oil inventories were at an 80-year high. But WTI and Brent posted further gains to close out the week, providing some serious evidence that a rally could be in the making [oilprice.com]

» February 07 2015 - #OilPriceRise. [by Financial Times] Crude is poised for its biggest weekly gain in four years amid growing optimism that the commodity has finally found a floor after plunging more than 50 per cent since last June. Ice March Brent, the international crude benchmark, rose 2.4 per cent on Friday, taking its gains since Monday to 9.2 per cent. The rise, the biggest since February 2011, marks the second consecutive week of gains for the black stuff following last week's 8.6 per cent rally. West Intermediate Texas, the US benchmark, up 2.2 per cent, is set to end the week 7 per cent higher. Oil prices, which have endured seven months of battering amid a perfect storm of slowing demand and supply glut, have been on the mend since last Friday after a substantial fall in US oil rig count sparked hope in the market that production growth could soon begin to slow [ft.com]

» February 06 2015 - #CoalCombustionResiduals, #US, #EPA, #BloombergBnaWebinar. With its new Coal Combustion Residuals (CCR) Rule, the Environmental Protection Agency enhanced regulation of CCR by establishing national standards using existing Resource Conservation and Recovery Act, Subtitle D authorities, and by structuring the requirements as self-implementing and enforceable by states and citizens. This webinar will discuss the fundamentals of EPA's new regulations for CCR disposal and beneficial use, and practical implications of the regulatory structure in the context of hazardous and solid waste regulatory principles. The presenters will discuss the significance of CCR regulation under Subtitle D of RCRA, the state/federal relationship, and implications for future litigation. The presenters will also discuss the unique requirements and issues presented for CCR impoundments [bna.com]

» February 06 2015 - #EnergyPolicy, #EU, #EnegyUnion, JackDelorsInstituteReport. An "Energy Union" in Europe means that an EU-level organisation will balance the flows of electricity, not national transmission system operators. And it means the EU will ensure security of supply - not the national member states. That is the vision of Jean-Arnold Vinois, until recently Director in charge of the internal energy market at the European Commission and co-author of a groundbreaking report from Notre Europe (Jacques Delors Institute) on the Energy Union. As Brussels awaits the official version of the Energy Union from the Commission on 25 February, Vinois slams the current state of the European energy sector. The distribution system operators, he says, are ineffective, the generators are "dinosaurs", almost no one is investing in R&D in energy, the decision to allow state aid to the nuclear project Hinkley Point C is "questionable" and the lack of solidarity EU countries show in regard to Putin is "sad". He predicts IT companies may take over from the energy companies and the Chinese may blow away Alstom, Siemens and ABB [energypost.eu]

» February 06 2015 - #RenewableEnergy, #SolarPower, #India, #CouncilOfEnergyEnvironmentAndWaterReport. Tapping Every Ray of the Sun: A Roadmap for a Significant Role of Solar in India. India's average solar irradiance at approximately 5.1 kWh/m2 is one of the highest irradiation received by any country in the world. As a result, the theoretical potential of annual power generation from solar is about 5000 trillion kWh, which is equivalent to the cumulative solar capacity of 600,000 GW. Whilst this large potential assessment is entirely theoretical, the opportunity that solar energy offers is undisputed. Power from solar energy contributed only 0.41% of overall power demand in India in 2013-14. A cumulative installed capacity (CIC) of 100 GW of solar power by 2021-22 would help scale up India's solar capacity to 9% of total power demand. However, meeting such an ambitious goal would also mean a high compounded annual growth rate (CAGR) in solar capacity addition of 62.2% between now and 2021-22. This policy brief presents a roadmap for achieving India's ambitious target of 100 GW of cumulative installed capacity from solar [ceew.in]

» February 06 2015 - #OilPricePlunge, #Mexico, #Colombia, #WesternProducingNations. [by Oil & Gas Journal] The recent global crude-oil price plunge could be aggravating underlying problems in Mexico, Colombia, and other Western Hemisphere producing nations, speakers suggested during a Feb. 4 discussion at the Woodrow Wilson International Center for Scholars. "Mexico is a perfect storm - a serious production decline and a low oil price," said Duncan Wood, who directs the center's Mexico Institute. "It instituted modest energy reforms that look more like service agreements than production-sharing contracts. This might explain why only seven [international oil companies] have asked to see data rooms for the 14 offered contracts. There’s a perception the program has failed." [...] Colombia used a steady increase in oil income to fund an economic transformation over the last decade, according to Alfonso Cuellar, president and managing director of Hill & Knowlton Colombia. Each $1/bbl price decline reduces its crude revenue by an estimated $20 million, and the national budget was bullish on prices above $85/bbl, he said. The country's crude production doubled in 10 years as prices swung from $25/bbl to $100/bbl and the government instituted social reforms. These included requirements for the industry to consult with affected indigenous communities, which companies strongly dislike, Cuellar said. But there also haven't been any new oil resources discovered in Colombia since the Cupiagua basin in 1993 [ogj.com]

» February 05 2015 - #CCS, #GHGEmissions, #ClimateChange, #Canada. Almost half of the emissions that need to be captured to battle climate change come from the process industries. John McKenna looks at how Carbon Capture and Storage could play a vital role in reducing industrial emissions. When it comes to cutting CO2 emissions, Carbon Capture and Storage (CCS) has for a long time seemed like the panacea that was too fanciful and costly to ever become a reality. However, 2014 marked a significant turning point for the technology, when the first commercial-scale power plant to use CCS began operating in Canada in October. SaskPower's Boundary Dam Integrated CCS project in Estevan, Saskatchewan is an 110MW coal-fired power unit with amine capture technology. It is anticipated that the C$1.35 billion facility will capture around one million tonnes of CO2 each year from the power plant's Unit 3, cutting the unit's emissions by 90%. Captured CO2 will be piped to Cenovus Energy's oilfields for use in enhanced oil recovery (EOR) operations [globalccsinstitute.com]

» February 05 2015 - #ClimatePolicy, #GHGEmissions, #Economics, #Norway. The Norwegian Government will present [on February 6] a White Paper on a New Norwegian Commitment for the Period After 2020. The Paper will discuss the suggested commitment, the reasoning behind the reduction target and how it can be fulfilled. The Norwegian government suggests that Norway by 2030 reduce greenhouse gas emissions by at least 40 per cent compared to the 1990 level. The EU is leading the way in the efforts to combat anthropogenic climate change. The Norwegian government aims for Norway to join the EU 2030 framework for climate policies in order for Norway and the EU to jointly fulfil their climate targets [regjeringen.no]

» February 05 2015 - #OilCrash, #Economics, #ThomsonReutersWebniar. [By Thomson Reuters] A brief story of the oil crash, Thomson Reuters webinar [media-server.com]

» February 05 2015 - #NaturalGas, #Russia, #US, #EU, #Geopolitics. [By Fuel Fix] The United States and Russia are once more locked in what could be a generation-defining conflict, and Europe is yet again the core battleground. But this Cold War reprise isn't about military supremacy. It's about heat and electricity for tens of millions of Europeans. The points on the map aren't troop deployments, tank battalions and missile silos but pipelines, ports and power plants [fuelfix.com]

» February 05 2015 - #OilPrices, #OilProduction, #Russia, #SaudiArabia. [By Tass] Head of the international affairs committee of Russia's State Duma (the lower house of Russia's parliament) Alexey Pushkov has dismissed reports alleging that negotiations have been held on oil production cuts by Saudi Arabia in exchange for Moscow's refusal to support Syrian President Bashar Assad. The report has been published by The New York Times [itar-tass.com]

» February 05 2015 - #RenewableEnergy, #India. [By Carbon Brief] The US and India have signed a deal to "enhance cooperation" on cutting emissions and investing in low carbon energy sources. The countries agreed the deal during President Obama's state visit to meet India's prime minister Narendra Modi [...] The new US-India pact is weaker than the agreement Obama signed in Beijing. But there are a number of good reasons India is reluctant to take strong action to curb its emissions in the short term [...] No one expects India to be able to meet such huge demand totally, or even mostly, with low-carbon energy sources. But that doesn't mean India is going to single-handedly ruin the world's efforts to cut emissions and tackle climate change. India's economy is currently heavily reliant on coal, and that's unlikely to change any time soon. Last year, almost 60 per cent of India's installed power plants were coal-based [carbonbrief.org]

» February 04 2015 - #OilPrices, #OilProduction, #CitigroupReports. [By CNNMoney] The oil crash - and cheap gas bonanza - probably isn't over yet. After suffering an epic meltdown last year, oil is showing real signs of life lately. It surged 19% to close at $52 a barrel in just three days -- its best performance in six years. Drivers may have noticed a pop in gas prices too. The national average price of gasoline jumped nearly five cents a gallon on Wednesday, according to AAA. The oil bounce also caused stock prices to surge on Tuesday. What's going on? It all goes back to simple supply and demand. The world is awash in oil - more than it needs, especially given sluggish demand caused by lackluster growth overseas. But there is fresh evidence U.S. oil producers are racing to fix the oversupply problem by shutting down oil drilling rigs. That's causing prices to bounce and some experts are calling a bottom in oil and gas prices. A top OPEC official even predicted crude could eventually explode to upwards of $200 a barrel. Citigroup doesn't buy the bottoming out thesis. In a pair of reports released this week, the bank warns crude oil may need to tumble to $30 because the world still has too much oil on hand [money.cnn.com]

» February 04 2015 - #OilPrices, #OilProduction. [By The Associated Press] Oil rose again Tuesday as oil giant BP announced plans to cut exploration spending, another sign that the recent plunge in prices will lead to cuts in global production. U.S. oil rose $1.60, or 3.2 percent, to $51.17 a barrel, and has gained about 15 percent over three trading sessions. Brent crude, a benchmark for many international oils imported by U.S. refineries, rose $1.44, or 2.6 percent, to $56.18 a barrel. The sudden rally follows a months-long decline that knocked oil prices down about 60 percent. The gains began Friday with a report showing a sharp drop in the number of rigs in the U.S. drilling for oil. On Monday, BP announced a 20 percent drop in capital spending for this year. That follows Chevron's projected cut of 13 percent [finance.yahoo.com]

» February 04 2015 - #WindEnergy, #BNAReport. Global Wind Energy Fortunes (and Turbines) Growing Fast, at Least in Short Term, Bloomberg BNA Free Report. While a very bright short-term future is easy to see, an unusual convergence of factors makes predicting the industry's post-2020 fortunes more difficult. How will these future developments impact your operation? [...] with expert insight on: Next-generation turbines; Offshore obstacles; Wind-energy ports; the Production Tax Credit (PTC); Global opportunity [bna.com]

» February 04 2015 - #NaturalGas, #GALSI, #Italy, #Algeria. Italy is still interested in GALSI gas pipeline project, linking Algeria to Italy via Sardinia, said Monday in Algiers Italy's Minister of Foreign Affairs and International Cooperation Paolo Gentiloni. "We are still interested in the project (GALSI) and we support the idea of the diversification of energy resources," Gentiloni said during a press conference held jointly with his Algerian counterpart Ramtane Lamamra. The gas pipeline is due to have a capacity of 8 billion cubic metres per year. Algeria owns 41.6 % of the project. To a question on the development of economic relations between Algeria and Italy, Gentiloni underlined the need to further improve the Algerian-Italian cooperation [aps.dz]

» February 04 2015 - #OilProduction, #WorldStatistics. The main oil production changes from November to December are: World total liquids up 150,000 bpd; OPEC up 80,000 bpd; N America up 80,000 bpd; Russia and FSU up 180,000 bpd; Europe down 70,000 bpd (compared with December 2013); Asia down 60,000 bpd. The continued growth in production into December shows that global production growth had significant momentum that has not yet been curtailed by the price rout. The fall in the oil price continued throughout January, WTI hitting a low of $44.80 on January 26th and Brent hitting a low of $45.13 on January 13th. The main dynamic statistic has been the plunge in US oil rig count down to 1223 rigs on January 30th from a recent high of 1609 rigs on October 10th 2014. The rig count news led to a strong rally in oil price on 30th January [oilprice.com]

» February 04 2015 - #Oil&GasIndustry, #USFiscal2016. US President Barack Obama has proposed his federal budget for fiscal 2016 that he said was designed to help a beleaguered middle class take advantage of a strong economic recovery. It also included proposals from previous years to close what the administration considers oil and gas tax loopholes and the industry regards as necessary provisions to offset ongoing business expenses [...] But its proposals to repeal several tax-code provisions would affect the US oil and gas industry. Its plan to modify rules for dual capacity taxpayers, which would raise a projected $533 million in fiscal 2016 and nearly $10.32 billion over 10 years, would hit firms operating overseas that use the foreign tax credit. Independent producers would be hit hardest by proposals to repeal expensing of intangible drilling costs (IDCs) (nearly $2.27 billion in 2016 and $15.5 billion by 2025), end percentage depletion for oil and gas wells ($1.12 billion in 2016 and $13.25 billion by 2025), and increase geological and geophysical amortization from 5 to 7 years ($91 million in 2016 and $2.87 billion by 2025). The budget also calls for making the oil and gas industry ineligible for the domestic manufacturing deduction under Section 199 of the American Jobs Creation Act. The provision was enacted to help US businesses offset foreign governments' subsidies for their countries’ industries. This would primarily affect refiners and raise an estimated $647 million in 2016 and $11.9 billion over 10 years [ogj.com]

» February 03 2015 - #NuclearSafety, #France. The French nuclear safety regulator has specified additional post-Fukushima safety measures to be taken at the country's fuel cycle and research facilities. Stress tests that were performed on European nuclear power reactors following the March 2011 Fukushima accident were extended in France to cover all basic nuclear installation. The aim of these stress tests was to determine the safety margins that exist on these facilities with regard to extreme hazards, such as earthquakes and flooding. For Areva, these stress tests were performed on fuel cycle facilities at its La Hague, Romans-surIsere, Tricastin and Marcoule sites. Meanwhile, such tests were carried out at fuel and research facilities operated by the French Atomic Energy and Alternative Energies Commission (CEA) at Marcoule, Cadarache and Saclay [world-nuclear-news.org]

» February 03 2015 - #Bioenergy, #BiomassEnergy, #CO2Price, LowCarbonEconomy, #Deforestation, #FoodPrices, #MitReport. What will large-scale global bioenergy production look like? We investigate this question by developing a detailed representation of bioenergy in a global economy-wide model. We develop a scenario with a global carbon dioxide price, applied to all anthropogenic emissions except those from land-use change, that rises from $15 per metric ton in 2015 to $59 in 2050. This creates market conditions favorable to biomass energy, resulting in global non-traditional bioenergy production of 150 exajoules (EJ) in 2050. By comparison, in 2010 global energy production was primarily from coal (139 EJ), oil (175 EJ) and gas (108 EJ). With this policy, 2050 emissions are 16% less in our Base Policy case than our Reference case, although extending the scope of the carbon price to include emissions from land-use change would reduce 2050 emissions by 57% relative to the same baseline. Our results from various policy scenarios show that lignocellulosic (LC) ethanol may become the major form of bioenergy, if its production costs fall by amounts predicted in a recent survey and ethanol blending constraints disappear by 2030; however, if its costs remain higher than expected or the ethanol blend wall continues to bind, bioelectricity and bioheat may prevail. Higher LC ethanol costs may also result in expanded production of first-generation biofuels (ethanol from sugarcane and corn) so that they remain in the fuel mix through 2050. Deforestation occurs if emissions from landuse change are not priced, although the availability of biomass residues and improvements in crop yields and conversion efficiencies mitigate pressure on land markets. As regions are linked via international agricultural markets, irrespective of the location of bioenergy production, natural forest decreases are largest in regions with the lowest political constraints to deforestation. The combination of carbon price and bioenergy production increases food prices by 2.6%-4.7%, with bioenergy accounting for 1.3%-2.6% [globalchange.mit.edu]

» February 03 2015 - #OilPrices, #Pipelines, #ProcessingPlants. Oil and natural gas producers confronting a cash drain are auctioning off the family silver: pipelines and processing plants. Bakken shale billionaire Harold Hamm and Canadian gas giant Encana Corp. are among the latest to peddle some of their most valuable assets and steadiest earners. They don't have much choice - as the oil price collapse deflates the value of drilling operations, pipes and plants are about the only things attracting big payments for producers vying to stay afloat [bloomberg.com]

» February 03 2015 - #NaturalGas, #LNG, #NaturalGasFuelMarket, #OilPrices, #StrategicReport. The FC Gas Intelligence LNG, Oil Prices & the High Horsepower Markets 6,000 word report examines the state of the market for natural gas fuels. Throughout the report, our analyst explores how lower diesel prices are impacting the demand for natural gas fuels from the 'High Horsepower markets' such as Rail, Mining, Marine and Oil & Gas Drilling Operations [fc-gi.com]

» February 03 2015 - #NaturalGas, #SouthStream, #TurkishStream, #Russia, #EUEnergySecurity, #CsisWebinar. With much speculation as to the winners and losers of the decision to scrap South Stream, CSIS experts will endeavor to answer the many questions the new project raises. Is South Stream truly scrapped? Is Turkish Stream a more viable pipeline project? Will it lessen or exacerbate Europe's energy security concerns? What are the broader geopolitical implications for the European Union, Ukraine, Turkey and Russia, as well as the United States? podacast download [csis.org]

» February 03 2015 - #ClimateChange, ##GlobalWarming, #OceanTemperature, #NatureClimateChangePaper. A fresh analysis of thousands of temperature measurements from deep-diving Argo ocean probes shows (yet again) that Earth is experiencing "unabated planetary warming" when you factor in the vast amount of greenhouse-trapped heat that ends up in the sea. This is not even close to a new finding, but the new study shows more precisely where most of the heat has been going since 2006 (in the Southern Ocean outside the tropics) [...] The study, "Unabated planetary warming and its ocean structure since 2006," was published today in Nature Climate Change [dotearth.blogs.nytimes.com]

» February 02 2015 - #Oil, #Artic, #CollapsingOilPrices. Oil companies have eyed the Arctic for years. With an estimated 90 billion barrels of oil lying north of the Arctic Circle, the circumpolar north is arguably the last corner of the globe that is still almost entirely unexplored. As drilling technology advances, conventional oil reserves become harder to find, and climate change contributes to melting sea ice, the Arctic has moved up on the list of priorities in oil company board rooms. That had companies moving north - Royal Dutch Shell off the coast of Alaska, Statoil in the Norwegian Arctic, and ExxonMobil in conjunction with Russia's Rosneft in the Russian far north. But achieving the goals of tapping the extensive oil reserves in the Arctic has been much harder than previously thought. Shell's mishaps have been well-documented. The Anglo-Dutch company failed to achieve permits on time, had its drill ships run aground, and saw its oil spill containment dome "crushed like a beer can" during testing. That delayed drilling for several consecutive years. However, the first month of 2015 has darkened Arctic dreams even further. Oil companies are scratching their heads trying to figure out how to deal with a collapse in oil prices, now below $50 per barrel. With virtually every upstream company around the world slashing spending, it is the highest-cost and riskiest projects that are getting scrapped first [oilprice.com]

» February 02 2015 - #NaturalGas, #EU, #Ukraina, #Russia, #SouthStream, #TurkishPipeline, #Geopolitics. In an exclusive interview with Natural Gas Europe at the European Gas Conference 2015 in Vienna, Austria, Prof. Stern offered how he sees the state of natural gas diplomacy at the beginning of 2015, describing it as, "very difficult", indeed. [...] At the end of 2019, the long-term contract for transport through Ukraine runs out, so from 2020 onwards there is no contractual relationship which would require them to put gas through Ukraine. Our work suggests that even with the Turkish pipelines, they [Russians] would still need to get 30-50 BCM - in other words between a quarter and a third of the gas they send to Europe - would still need to go through Ukraine. So we don't think it's realistic for them to say, "we're not going to put gas through Ukraine anymore," just as we think it's unrealistic for the Ukrainians to say, "we're not going to buy gas from Russia anymore." [naturalgaseurope.com]

» February 02 2015 - #RenewableEnergy, #Tanzania, #WorldBankFinancing. Off-Grid Electric Ltd., a provider of distributed-generation solar systems, raised $7 million in loans to install rooftop systems in Tanzania. International Finance Corp., the World Bank's private-sector financing arm, is providing $4.5 million and Cordiant Capital $2.5 million, according to an e-mailed statement. Off-Grid Electric has raised about $35 million, including grants, and is seeking to increase the number of sunshine-powered households in Tanzania this year to 200,000 from about 35,000 [bnef.com]

» February 02 2015 - #EnergySecurity, #EU, #Russia, #Ukraine. Energy security remains a vital issue for the European Union (EU), even more so in the wake of the events that unfolded in early 2014 in Ukraine. The EU's already fragile position in the international energy arena in terms of supply security appears to be more uncertain than ever after umpteenth fall out with its historic energy supplier, Russia. This situation is untenable and calls for swift and decisive action to adequately tackle the issue once and for all. The paper deals with the establishment of a single EU energy market through integration of energy networks in the EU; it then offers various ways for the EU to diversify its energy supplies (whether increasing the import of liquefied natural gas, the promotion of renewable energy or the construction of alternative pipelines and energy routes) and analyzes the current and future role of the Energy Charter. The paper concludes that from energy transit, to technology transfer, to investment protection, energy and trade present interplays across various fields. Improvements can be made to the EU trading system to ensure greater energy security and more efficient energy markets [papers.ssrn.com]

» February 02 2015 - #Oil, #OilPricesCrash, #Iran, #Russia, #China. The weight of the oil fall on the Iranian economy. The economic consequences that Iran is dealing with as a result of international sanctions and the fall in oil prices could weaken the moderate leadership of the country. The axis with Russia and China appears to be the most credible antidote and it is promoting new investments in the Iranian oil market, but only the resolving of the nuclear dispute could provide the economic policy of the moderate President Hassan Rouhani with some credibility [abo.net]

» February 01 2015 - #LowCarbonEconomy, #ClimateFinance, #CarbonPricing, #WorldBankReport. Preparing for Carbon Pricing: Case Studies from Company Experience - Royal Dutch Shell, Rio Tinto, and Pacific Gas and Electric Company. This report covers case studies with three companies: Royal Dutch Shell, Rio Tinto, and Pacific Gas and Electric (PG&E), capturing their experiences and lessons learn preparing for and operating under policies that price carbon emissions. It is relevant for private companies and countries interested in seeing how companies are putting a price on carbon [worldbank.org]

» January 30 2015 - #Oil, #KeystoneXLPipeline, #US. A Dirty Link Between the Senate and the Keystone Vote. Daphne Wysham - an associate fellow at the Institute for Policy Studies (IPS) and a climate policy fellow at the Center for Sustainable Economy (CSE)- says that the Senators who voted in favor of the Keystone XL Pipeline accepted seven times more campaign funding from fossil fuel energy groups [therealnews.com]

» January 30 2015 - #Oil&GasIndustry, #Mergers&Acquisitions, PwCUSAnalysis. Mergers and acquisitions (M&A) in the oil and gas industry hit 10-year highs in terms of deal value and volume in 2014, according to PwC US. The record breaking year was primarily driven by deals valued at more than $1 billion each. Overall, there were 49 of these "mega" deals worth a total of $266.1 billion in 2014, compared to 24 deals worth $71 billion in 2013. "While 2014 was a very strong year for oil and gas deal activity, we saw a steady decline in November and December as the drop in oil prices accelerated, contributing to a marked shift in deal sentiment from playing offense to playing defense as companies focused on maintaining liquidity," [offshore-mag.com]

» January 30 2015 - #EnergySecurity, #EnergyPolicyResearchPaper. Energy security studies have expanded from their classic beginnings following the 1970s oil crises to encompass various energy sectors and increasingly diverse issues. This viewpoint contributes to the re-examination of the meaning of energy security that has accompanied this expansion. Our starting point is that energy security is an instance of security in general and thus any concept of it should address three questions: "Security for whom?", "Security for which values?" and "Security from what threats?" We examine an influential approach - the 'four As of energy security' (availability, accessibility, affordability, and acceptability) and related literature of energy security - to show it does not address these questions. We subsequently summarize recent insights which propose a different concept of energy security as 'low vulnerability of vital energy systems' [sciencedirect.com]

» January 30 2015 - #NaturalGas, #WorldwidePipeline, #OGJWebninar. The Forecast & Review/Worldwide Pipeline Construction 2015 Webcast will address Oil & Gas Journal's outlooks for the oil market and pipeline construction in a year of turbulence [...] The pipeline construction outlook previews the Worldwide Pipeline Construction special report coming in the Feb. 2, 2015, issue of OGJ. It projects pipeline mileage, by region and pipeline type, to be completed in 2015 and in years beyond and highlights globally important project planned and under way. Webinar, 30 January 2015, 11:00 AM EST, 10:00 AM CST, 08:00 AM PST, 16:00 GMT, Free to attend [ogj.com]

» January 30 2015 - #ClimateFinance, #GreenClimateFund, #Korea, #Japan, #ResearchPaper. This paper provides practical information for both donors and recipients to be prepared for the readiness program of the Green Climate Fund (GCF) and also to identify the issues of the existing readiness program. Specifically, this paper attempts to focus on the needs of developing countries in the context of climate finance and issues of GCF readiness. In this paper, four gaps between current readiness programs and recipient expectations are identified: 1) gap in the capacity for the direct approach, 2) gap in readiness for the private sector, 3) gap in experiences in the development field, and 4) gap in the absorptive capacity of funds by the recipient. Furthermore, this paper also identified the uniqueness of the fiduciary standards of GCF by comparing with those of other climate funds. To fill the above gaps, five policy recommendations are presented [jica-ri.jica.go.jp]

» January 30 2015 - #LowCarbonGrowth, #FiscalInstruments, #India. Greenhouse gases (GHGs) and other pollutants impose negative externalities in the form of additional costs on the entire society. Given India's voluntary domestic commitment to reduce emissions intensity of its GDP by 20-25% from 2005 levels by 2020, it is important for Indian States to adopt a low carbon growth path. The emissions of GHGs and other pollutants, if left to free market forces, are unlikely to be reduced on their own, thereby necessitating government intervention. Several States have adopted fiscal instruments to mobilize resources for promoting their low carbon growth plan. However, little is known about their operational mechanics and performance to date. This policy brief series compiles experiences from some of these States that have implemented fiscal instruments to address environmental and climate issues: Policy brief Akshaya Shakti Nidhi ( Green Energy Fund)- Karnataka; Policy brief Financing instruments for addressing climate change and pollution: Lessons learned from Maharashtra; Report - Fiscal Instruments for Environment and Climate Change: Experiences from Indian States [ifmrlead.org]

» January 29 2015 - #OilPipeline, #KeystoneXL, #US, #Canada. The Senate on Thursday passed a bill to force approval of the controversial Keystone XL oil pipeline, which President Obama is certain to veto in his first official clash with the new Republican-majority Congress. The five-year fight over the Keystone pipeline has become a proxy symbol for far broader fights over climate change, energy and the economy, and for the conflict between Mr. Obama and congressional Republicans [nytimes.com]

» January 29 2015 - #CarbonDioxideGeologicalStorage, #CarbonCaptureandStorage, #CCS, #EuReport, CCSDirective. This report presents the consultant's work in supporting the Commission in their review of the CCS Directive. The work under this contract consists of two main parts. The first part is to effectively carry out an interim evaluation of Directive 2009/31/EC on the geological storage of carbon dioxide (the Carbon Capture and Storage (CCS) Directive), including consideration of the Directive under the new Regulatory Fitness and Performance programme (REFIT). The second part of the work is more forward-looking and focuses on preparing a set of recommendations for the future of the CCS Directive, and wider CCS enabling policy for the Commission to consider. This report contains the results of the work on both parts of the contract. The work is also designed to contribute to the European Commission Review of the CCS Directive, as required by Article 38 of the Directive [ccs-directive-evaluation.eu]

» January 29 2015 - #NaturalGas, #WorldwidePipeline, #OGJWebninar. The Forecast & Review/Worldwide Pipeline Construction 2015 Webcast will address Oil & Gas Journal's outlooks for the oil market and pipeline construction in a year of turbulence [...] The pipeline construction outlook previews the Worldwide Pipeline Construction special report coming in the Feb. 2, 2015, issue of OGJ. It projects pipeline mileage, by region and pipeline type, to be completed in 2015 and in years beyond and highlights globally important project planned and under way. Webinar, 30 January 2015, 11:00 AM EST, 10:00 AM CST, 08:00 AM PST, 16:00 GMT, Free to attend [ogj.com]

» January 29 2015 - #Oil, #OilPricesCrash, #BPSpending. Oil major Shell will cut its spending by $15billion over the next three years. The move was made on the back of falling oil prices during the last six months. Despite this, Shell had posted an increase in profits for the last three months of 2014, which jumped from $2.2billion in the same period a year earlier to $4.2billion [energyvoice.com]

» January 29 2015 - #OilCrash, #Economics, #ThomsonReutersWebniar. A brief story of the oil crash, Thomson Reuters webinar. From 2010 until mid-2014, global oil prices remained stable at around $110 a barrel. However since June, prices have more than halved. US crude oil has dipped below $48 a barrel, and Brent crude is down to below $50 a barrel for the first time since May 2009. This has lead to significant revenue shortfalls in many energy exporting countries, while importing countries have benefited from the reduction in costs. [...] What caused the 60 percent drop in oil prices between June 2014 and January 2015? How will it affect US shale oil production? What is the outlook for oil prices and production in 2015 and 2016? 5th February, 2015, 8:30 AM (Chicago), 9:30 AM (New York), 2:30 PM (London), 3:30 PM (Geneva) [thomsonreuters]

» January 29 2015 - #ClimateChange, #Economics, #CarbonPricing, #Ets, #CarbonTax, #WorldBankInitiative. Around the world, countries are developing ways to put a price on carbon to fight climate change. They are choosing different approaches depending on their national circumstances. China has pilot emissions trading systems (ETS) in seven provinces and cities and is planning a national ETS in 2016. Chile recently approved a carbon tax to start in 2018. Mexico and Colombia are implementing sector-wide crediting mechanisms that reward low emission programs with carbon credits, for example in the transport sector by substituting conventional vehicles with electric cars. Many countries have renewable energy portfolio standards and feed-in tariffs. These domestic initiatives are crucial to lowering greenhouse gas emissions. Each is being designed individually, though, creating a patchwork of regulations and missing the economy of scale that a connected system could bring. The World Bank Group has been working on ways to network these initiatives and facilitate an integrated international carbon market. Networking domestic efforts can help countries achieve their climate mitigation objectives in a more cost-effective way. When different carbon pricing systems are connected, they create a larger, potentially more liquid, market. The larger the market, the more the price of carbon is resilient to extreme volatility. Also, by connecting with different carbon pricing systems, countries can tap into other abatement options, which can help to reduce costs. The cost and efficiency benefits that result from networking may, therefore, enable countries to increase the ambition of their climate mitigation efforts. An integrated carbon market also has advantages for the private sector and the flow of finance. Currently, about 40 countries and more than 20 cities, states and provinces have or plan to implement some kind of carbon pricing. In many cases, each is following a different climate mitigation rulebook. This makes it difficult to track progress and compare achievements among different jurisdictions. This variability is reflected in the wide carbon price range: within the United States alone, the carbon price under the Regional Greenhouse Gas Initiative (RGGI), involving nine northeastern states, was $5.21 at its most recent auction, while the carbon price under the California ETS was $12.10 [worldbank.org]

» January 29 2015 - #NaturalGaas, #PipelineIntegrityManagement, #NtsbStudy. The US National Transportation Safety Board (NTSB) recently adopted a safety study on integrity management of gas transmission pipelines in high consequence areas. The NTSB has released its Safety Study: Integrity Management of Gas Transmission Pipelines in High Consequence Areas following a board meeting on 27 January. NTSB notes that this material "is subject to further review and editing." [...] In 2003, the Pipeline and Hazardous Materials Safety Administration (PHMSA) issued regulations governing integrity management processes, which took effect in 2004. In its safety study, the NTSB analysed information from PHMSA�s data systems, federal and state pipeline inspectors, transmission pipeline operators, industry associations, and pipeline and safety engineering support organisations. The study includes recommendations addressing a broad range of improvements, which include broadened use of in-line inspection. The recommendations also emphasise closer state to-state and federal-state cooperation among inspectors, and call for expanded and improved resources and guidance at the federal level, including improvements to the National Pipeline Mapping System and better integration of geographic information system technology [pipelinesinternational.com]

» January 28 2015 - #Energy, #ClimateChange, #WecReport. Energy leaders see energy price volatility and the future of a climate framework as their top critical uncertainties, according to the latest research by the World Energy Council. The 7th annual edition of the World Energy Issues Monitor, entitled "Energy price volatility: the new normal", is a barometer of the top issues set to shape the energy sector for the year ahead. This year the report has gathered the views of more than 1,000 energy leaders, including ministers and chief executives from nearly 80 countries. The uncertain impact of volatile energy and commodity prices, first highlighted in last year's report as an emerging priority, has now established itself as the number-one issue for energy leaders worldwide. Energy leaders are worried about the recent sharp plunge in the oil price to its five-year low. They are kept busy by the continual reduction in the cost of renewable energy technologies, which have increased their share in the energy mix, but have also put strains on the energy system. In some parts of the world that do not have viable energy storage solutions, the grid is not yet able to cope with large shares of intermittent forms of energy and lacks effective market signals to deliver back-up capacity or storage. Climate framework is perceived as the next most critical uncertainty ahead of a global climate agreement being reached at the Conference of the Parties meeting (COP-21) in Paris at the end of this year. This issue - which could spell the presence or absence of a meaningful carbon price - has been a top critical uncertainty since the first World Energy Issues Monitor in 2009 [worldenergy.org]

» January 28 2015 - #Oil, #Offshore, #Decommissioning. With oil price at its current rate, the rise in non-economic offshore facilities will bring forward the opportunity for decommissioning. Decomworld free webinar at 10am-11am CST on Wednesday 4 February [...] Insight from decommissioning industry expert Brian Twomey on the impact low oil prices will have on the decommissioning value chain in 2015; Q&A with Stone Energy's Decommissioning Manager, Gary Siems, to assess an independent operator's perspective on decommissioning in light of low oil prices; Up to the minute progress shared on the industry's subsea decommissioning study to see how operators in the Gulf of Mexico are driving best practice for subsea P&A [gotowebinar.com]

» January 28 2015 - #ClimateChange, #Post2020ClimateAgreements, #ResearchPaper, #NatureClimateChange. Post-2020 climate agreements in the major economies assessed in the light of global models. Integrated assessment models can help in quantifying the implications of international climate agreements and regional climate action. This paper reviews scenario results from model intercomparison projects to explore different possible outcomes of post-2020 climate negotiations, recently announced pledges and their relation to the 2 °C target. We provide key information for all the major economies, such as the year of emission peaking, regional carbon budgets and emissions allowances. We highlight the distributional consequences of climate policies, and discuss the role of carbon markets for financing clean energy investments, and achieving efficiency and equity [nature.com]

» January 28 2015 - #OilPrices, #CarbonTaxes, #Wba&AebiomInitiative. The decline of oil price offers the unique opportunity to introduce or increase the carbon taxes without burden to the end consumer. In this regard, World Bioenergy Association (WBA) and European Biomass Association (AEBIOM) sent out a letter to policy decision makers on the global level and to the media to seize this opportunity [ wba ]. The Economist has a similar view in their recent article [economist.com]

» January 28 2015 - #ClimateChange, #ArticSeaIce, #ResearchPaper, #NatureClimateChange. Influence of internal variability on Arctic sea-ice trends. Internal climate variability can mask or enhance human-induced sea-ice loss on timescales ranging from years to decades. It must be properly accounted for when considering observations, understanding projections and evaluating models [nature.com]

» January 28 2015 - #LowOilPrices, #Geopolitics, #EnergyMarkets. CSIS Conference, The Energy Market Impacts of Low Oil Prices: How Low? How Long? [Watch Live]

» January 28 2015 - #ClimateChange, #UK, #DeccReport, #OpenSourceModel. The Global Calculator, an online software tool developed by the UK Department of Energy and Climate Change (Decc), with partners. The Global Calculator shows that as lifestyles continue to improve while still tackling climate change, we must transform the technologies and fuels we use, and make smarter use of our limited land resources. The report Prosperous living for the world in 2050 uses evidence from the tool to show what we need to achieve [globalcalculator.org]

» January 28 2015 - #Energy, #Hydrogen, #Japan. The Tokyo Metropolitan Government is setting up a ¥40 billion fund to promote the use of hydrogen energy and promote Japan's ecological technologies ahead of the 2020 Olympic Games. The fund, according to the draft fiscal 2015 budget, is intended to cover the cost of building hydrogen stations, promoting fuel cell vehicles and providing fuel cells for business and industrial use. Experts view hydrogen as a prime energy source because it does not emit carbon dioxide when burned and emits only water as a byproduct. It also contributes to energy security because hydrogen can be sourced from all over the world. There are high expectations for hydrogen, but there are also many hurdles to overcome, including how to lower the cost of using it. Here are some questions and answers about Tokyo's campaign [japantimes.co.jp]

» January 27 2015 - #OilPrices, #OpecWarning. Oil prices gained Tuesday as the Organization of the Petroleum Exporting Countries (OPEC) warned that prices may jump to 200 dollars a barrel in future without sufficient investment in production. OPEC General Secretary Abdalla El-Badri said Monday in an interview that oil prices may surge in future if there is no adequate investment. He said the oil market will be back to balance by a reduction in supply, rather than an increase in demand. There is an oversupply of about 1.5 million barrels a day on the oil market and OPEC is open to a meeting with countries outside the group to tackle the glut. The OPEC agreed at a meeting on Nov. 27 to maintain its collective output target of 30 million barrels a day. Saudi Arabia's oil minister discussed on Tuesday with Russian and Norwegian officials about market stability, according to the official Saudi Press Agency [news.xinhuanet.com]

» January 27 2015 - #OilMarkets, #OilPrices, #MarketOversupply, #SaudiArabia, #Opec. At present, the oversupply in the market is estimated at approximately 1.5 million barrels per day. Figures released by the American Petroleum Institute on Jan. 23 showed U.S. inventories reaching their highest December levels since 1930 of 383.5 million barrels. In addition, U.S. production increased by 16 percent to 9.12 million barrels a day, the highest level in a single month since February 1986. A report by the EIA expected on Jan. 28 is expected to show a third consecutive week of growth in U.S. crude inventories. Last year, oil prices dropped by 48 percent, to their lowest since 2008, and yet global production rose by 2.1 percent to 93.3 million barrels a day. The EIA is predicting consumption by the 34 members of the OECD to drop to 45.6 million barrels a day in 2015. Figures like these, in combination with comments from key oil ministers within OPEC, do little to restore confidence in the markets. Short WTI positions increased by 6,262 contracts to 94,203, net-long positions fell by 3.3 percent to 216,704 with producers increasing their net-short positions by 7,623 to 132,143 contracts. Elsewhere in the markets, bullish bets on gasoline increased by 5.8 percent to 39,418 contracts with futures increasing by 3.5 percent to $1.3128 a gallon. In combination with the spate of recent cuts to capex and employment by many oil majors, with BP opting for a pay freeze in 2015, it is unsurprising that market sentiment is so weary. However, to claim that oil could reach $200 due to a lack of investment is incredibly far-fetched as, even if shale operations continue to be pared back in the U.S., with Canadian tar sands following suit, any oil price rebound to even $100 a barrel would once again make these projects profitable, with supply and demand equilibrium returning quickly given the agility of so many of the major oil companies operating in the U.S, according to Ole Sloth Hansen, an analyst at Saxo Bank A/S in Copenhagen. The comments from OPEC's secretary general come as yet another display of power, following Iranian claims that the nation could withstand $25 per barrel or that OPEC will allow the markets to decide the price of oil and not intervene by cutting production. However, the latest reports from Davos indicate that, for all of their prognosticating, Saudi Arabia and OPEC may be considering taking action in conjunction with non-OPEC members to remedy the situation as El-Badri has said recently. How this might work in conjunction with global producers' desperate bids to maintain market share is anyone's guess, but it does indicate that OPEC's position may be softening somewhat [oilprice.com]

» January 27 2015 - #EnergyPolicy, #Oil&GasStrategy, #ClimateChange, #US, #EnerknolResearchPaper. 2015 will be a showdown over President Obama's energy legacy through regulatory change and pushback from the 114th Congress, all while looking ahead at the 2016 elections. The outcome will have a dramatic impact on utilities, conventional and renewable energy industries and federal and state government in 2015 and beyond. The recent debates over the Keystone XL pipeline - and its amendments - have foreshadowed both the Republican legislative agenda and the Democratic strategies to stop it, as well as possible bipartisan compromise that could lead to a comprehensive energy efficiency bill. Republicans will focus on securing oil and gas in the "all of the above energy strategy," and Democrats aim to block partisan legislative efforts by putting Republicans on record as either supporting or denying human contribution to climate change [enerknol.com]

» January 27 2015 - #Oil, #OilPrices, #USProduction, #USDrillingRigs. Lower 48 oil production outlook stable despite expected near-term reduction in rig count. The sharp decline in oil prices over the last quarter of 2014, which has continued in January, is already having a significant effect on drilling activity in the United States, as shown by the 16% decline in the number of active onshore drilling rigs in the Lower 48 states between the weeks ending on October 31, 2014 and January 23, 2015, according to data from Baker-Hughes. Moving from what has happened to forecasting the future is challenging, in part because market expectations of uncertainty in the price outlook have increased as reflected in the current values of futures and options contracts. When the latest edition of EIA's monthly Short-Term Energy Outlook (STEO) was issued on January 13, the 95% confidence interval for market expectations for prices in December 2015 was extremely wide, with upper and lower limits of $28/barrel (bbl) and $112/bbl, respectively. The growing uncertainty surrounding oil prices presents a major challenge to all price forecasts. EIA's January STEO forecasts Brent crude oil prices averaging $58/bbl in 2015 and $75/bbl in 2016, with annual average West Texas Intermediate (WTI) prices expected to be $3/bbl to $4/bbl lower. Should its price forecast be realized, EIA projects that the number of operating rigs will decrease by approximately 24% from January to October 2015 before beginning to rebound in November 2015. However, the outlook for Lower 48 production reflects more than just the rig count. Other key factors include the efficiency of drilling, which EIA tracks in its Drilling Productivity Report, the rate of decline in production from existing wells, and changes in the amount of time between the start of drilling (called spudding) and the completion of the well [eia.gov]

» January 27 2015 - #Oil, #USProduction, #USImports. Exporting crude oil and natural gas from the United States are among the dumbest energy ideas of all time. Exporting gas is dumb. Exporting oil is dumber. The U.S. imports almost half of the crude oil that we use. We import 7.5 million barrels per day. The chart below shows the EIA prediction that production will slowly fall and imports will rise (AEO 2014) after 2016 [...] The U.S. will never be oil self-sufficient and will never import less than about 6 million barrels of oil per day; U.S. total production will peak in a few years and imports will increase; The U.S. is a relatively minor reserve holder in the world [energypost.eu]

» January 27 2015 - #ClimateChange, #Australia, #CsiroProjections. New climate change projections for Australia. CSIRO and the Bureau of Meteorology today released climate change projections for Australia that provide updated national and regional information on how the climate may change to the end of the 21st century. The projections are the most comprehensive ever released for Australia and have been prepared with an emphasis on informing impact assessment and planning in the natural resource management sector. Information has been drawn from simulations based on up to 40 global climate models [...] By 2090, winter rainfall is expected to decrease in eastern Australia. Southern and eastern Australia are projected to experience harsher fire weather, while tropical cyclones may occur less often, but become more intense [...] Observed climate information indicates that Australian average surface air temperature has increased by 0.9°C since 1910, and many heat-related records have been broken in recent years. Sea level has risen about 20 cm over the past century [csiro.au]

» January 26 2015 - #GlobalEnergyIssues, #BPEnergyOutlook2035. What will the world's energy mix look like in 2035? Which fuels will gain - and lose - global market share? What is the outlook for US tight oil and shale gas supply, and what will the US energy renaissance of recent years mean for global markets into the future? What changes are likely for China (the world's biggest energy consumer)? What are the implications for CO2 emissions? And, with the oil price in the spotlight, what are the forces that will influence energy prices over the decades to come? The BP Energy Outlook 2035 - February 2015 contributes to the wider debate on global energy issues by asking these and many other questions. The report will be available for download from 17 February. Tuesday 17 February 2015, 3:00pm GMT /10:00am EST, Live webcast - registration open [bp.com]

» January 26 2015 - #Oil&Gas, #OilPrices, #UK. BG Group [a world leader in exploration and LNG] has become the latest firm to cut its contractor rates in the wake of the fall off in oil prices. A staff meeting was held Friday in Aberdeen where people were informed of the priorities for the year, the need to improve efficiency and the decision to reduce contractor rates by an average of 10%. BG employs 230 contractors in Aberdeen. The company joins a number of firms, including BP, Premier Oil, Wood Group PSN and Apache, that have also announced contractor rates cuts within the last few months. Last year, oil service firms Petrofac, Wood Group and Amec first moved to reduced contractor rates by 10% to help keep business competitive and reduce spiralling costs [energyvoice.com]

» January 26 2015 - #Energy, #Geopolitics, #UncertaintyAboutFuture. The 8 Major Geopolitical Catalysts Of 2015. Uncertainty about the immediate future seems to permeate most societies around the world. Few look far beyond the immediate. But what is now being put in place with the current global upheaval will form the basis of the strategic framework for the coming decades. Former US Secretary of State Henry Kissinger was quoted as saying that "if you don't know where you are going, any road will get you there". Updating this in The Art of Victory, I noted: "If you don't know where you're going, any road will lead to disaster." [...] The Immediate Factors: The decline of the West or the rise of the East?; The impact of changing alliances; Significant changes in leadership; The increasing distortion of the nation-state, and concepts of governance and �democracy� because of ongoing urbanization [...]; The start of the global population slowdown [...]; The start of the global population slowdown [...]; The transformation of the technologies, economics, and doctrines of warfare [...]; The impact of transforming commodity prices, as well as transforming energy costs and efficiencies, and their relationships to water and security [...] [oilprice.com]

» January 24 2015 - #Oil, #SaudiArabia, #Opec, #Iraq, #Iran, #Geopolitics. The major news story breaking in the oil space today is the passing of Saudi Arabia's King Abdullah and the succession to the throne of King Salman bin Abdulaziz Al Saud. This comes at a time when oil prices have fallen over 60 percent since June 2014, aided substantially by OPEC's decision in November not to cut crude oil production. [...] At present, the Saudi budget, which depends on petroleum exports for 85 percent of its annual revenues, balances at around $63 a barrel. This may partly explain Saudi Armaco's latest decision to diversify its operations by, "investing big in gas," at a field near Jordan according to its Chief Executive Officer Khalid Al-Falih. With prices hovering around $46 this morning and many predicting a prolonged period of depressed prices, Saudi Arabia will be forced to dip into to its $800 billion dollar cash reserves to handle the largest deficit in its history of $38.6 billion. The domestic, fiscal problems along with the oil price situation, coupled with regional conflicts and even minor ISIS incursions on the Saudi Arabian border all signal a baptism of fire for Saudi Arabia's new King Salman. Meanwhile, two fellow OPEC members are facing their own unique set of challenges. Firstly, Iraq has reportedly lost approximately 50 percent of its revenues from oil exports and has consequently had to boost output to record levels just to stay afloat, according to Bloomberg. This move saw OPEC's overall output rise by 80,000 barrels a day last month reaching a total of 30.48 million, with the drop off in Libyan supply being covered by Iraq and then some. While some stability has returned to Iraq following a deal with the Kurdistan Regional Government, according to Iraqi Prime Minister Haidar al-Abadi, the loss of oil revenues greatly impedes the fight against ISIS and threatens the Iraqi oil industry's long-term survival and ability to maintain capacity at such high levels. Secondly, amid allegations of illegally falsifying Iranian exports as Iraqi by switching ship cargoes off the coast of the United Arab Emirates, Iran is also facing further pressure on its exports from one key trading partner: India [eos-intelligence.com]

» January 24 2015 - #RenewableEnergy, #China. China is widely criticized as the world's largest emitter of carbon dioxide and other greenhouse gases. Less noticed, however, has been the fact that the country is also building the world's largest renewable energy system. China plays a significant role in the development of green energy technologies and has over the years become the world's biggest generator and investor of renewable energy. As China heads towards becoming the global leader in renewable energy systems, we pause to take a look at the major drivers behind this development and its implications on China as well as on the rest of the world [eos-intelligence.com]

» January 23 2015 - #GridStorage, #RenewableIntegration, #CsisWebinar. Grid Storage Technologies, Webninar, Tuesday, Jan 27, 2015 | 10:00 am - 11:30 am. Grid storage is often touted as a way to help integrate intermittent sources of electricity such as wind and solar onto the grid. The development of grid storage technology, however, is about much more than just renewable integration. This session will address various grid storage technologies and their current and future potential to help create a more resilient and cost-effective energy infrastructure. Panelists will discuss existing and emerging grid storage technologies and applications, market factors affecting storage development, the deployment of storage technologies and regulatory/policy factors affecting grid storage deployment [csis.org]

» January 23 2015 - #RenewableEnergy, #ClimateChange, #India, #US. With the recent memory of a joint US-China statement on energy and climate, and an upcoming landmark climate change meeting in Paris at the end of 2015, there is growing speculation that, as part of a wider package, India will unveil a goal of renewable energy growth in the range of 15-20 per cent (some guessing even as high as 33 per cent) of its electricity needs coming from zero-emission sources by 2030. For the US side, such a statement would help provide evidence that other large developing countries are pulling their weight in addressing climate change, providing political cover for Obama's domestic efforts on energy and climate. From an Indian perspective, what are the merits and demerits of such a statement? [indianexpress.com]

» January 23 2015 - #CleanEnergyTechonology, #China, #CleanEdgeWebinar. A decade ago, China and the concept of clean tech were oxymoronic. But today, China is the world's largest single investor in clean energy ($89.5 billion in 2014), ranks at the top of most renewable energy country indexes, and is the number one manufacturer globally of solar PV modules and lithium ion batteries. It also is home to the world's largest installed base of wind turbines and is number two for installed solar PV capacity, with the goal of being number one by 2020 (if not sooner). Moving forward, what impact will the recently announced U.S.-China Agreement on Climate Change have on the global clean-tech market? How far can China transition from its reliance on dirty coal to renewables and efficiency? Can China pivot from being primarily a manufacturer to leading the charge in a design-led revolution? And for clean-tech entrepreneurs, what opportunities and challenges lay at the intersection of China and clean-tech deployment and innovation? Clean Tech and The China Equation Webinar, Tuesday, February 10, 2015 4 PM Pacific/ 7 PM Eastern Wednesday, February 11, 2015 8 AM Beijing [gotowebinar.com]

» January 23 2015 - #NaturalGas, #LNG, #India, #US. India will strongly raise the issue of LNG imports with President Barack Obama as the country wants liquefied natural gas to be exported only in vessels built in USA, manned by US crew and insured by American companies, official and industry sources said. Officials also said India wants to make sure that the US government does not take any action against top energy firms Oil and Natural Gas Corp and Indian Oil Corp, which were named by the US government Accountability Office in a list of companies that have done business with Iran. US sanctions against Iran can create hurdles for such companies. State-run GAIL (India) Ltd has an agreement to ship 5.8 million tonnes a year of LNG from two projects in the United States although it needs the approval of US government to bring gas. It plans to buy gas at Henry Hub prices, a US benchmark, where prices are below $3 a unit, making it the cheapest source of gas. However, liquefaction and transport charges would raise the price significantly by the time it lands in India [indiatimes.com]

» January 23 2015 - #OilPriceCrash, #OilSupply/DemandBalance, #ClimatePolicy. Regardless of whether oil prices regain some of their 2014 losses in the next few years, the latest petro-roller coaster illustrates the monumental challenge that still lies ahead for attempts to reduce greenhouse gas emissions by switching to EVs or biofuels. To see why, start by recognizing that the oil crash of 2014 resulted from a collection of unforeseen changes to supply and demand. Economies in Europe and Asia saw slower demand growth than was forecast. The U.S. supply expansion (mainly from fracking in North Dakota and Texas) continued at a more robust pace than anticipated, while U.S. demand is dampened by years of improving fuel economy. Libya's oil production rebounded as warring factions reached enough accord to get oil onto tankers. And OPEC did not offset these surprises as it has done in the past (mostly just Saudi Arabia) by taking a few million barrels per day off the market. But the piece of this story that has gotten very little attention is how small the supply and demand surprises have been as a share of the 92 million barrel per day market. Given past trends, the news in the last year didn't plausibly change the supply/demand balance by more than 5 million barrels per day, and it was probably a lot less. Yet, that was enough to drop the spot price of oil by more than 50% and push down long-run oil price expectations by more than 30%. The reason for this outsized reaction is the simple economics of competitive markets: the price is set by the marginal cost of the last, or highest cost, barrel sold. The marginal barrel is less costly to produce these days than 6 months ago, but most of the crude oil supplied is even less expensive. The recent oil price drop shows that a small increase in crude supply and/or a small drop in demand brings a much cheaper barrel of oil to the margin, and that sets the price [theenergycollective.com]

» January 23 2015 - #ClimateChange, #Economics, #ClimatePolicy, #ResearchPapers. Journal of Benefit-Cost Analysis, special issue, "Perspectives on Implementing Benefit-Cost Analysis in Climate Assessment," a collaboration among climate economists and scientists. The issue is a suite of papers exploring the frontiers of economic analysis of climate change impacts and adaptation using Benefit-Cost Analysis (BCA). The papers in this issue both identify the challenges in applying BCA for climate change, and explore the use of economic tools and information in broader analytical and decision frameworks [degruyter.com]

» January 22 2015 - #OilPrice, #OilMarket, #Opec, #DavosForum. The Organization of the Petroleum Exporting Countries defends its decision to not intervene in the market, after the alarm raised by the CEO of Eni, Claudio Descalzi, according to who the reduction in investments due to the fall in prices could lead crude oil down to $200 per barrel by the end of the decade. OPEC Secretary-General, Abdalla El-Badri, (pictured) speaking at the World Economic Forum in Davos, Switzerland, explained that if the production had been cut in November, then it would have to be cut again in March and in June, while the non-OPEC producers would continue to produce gaining market share. Because of the market price, the CEOs of the oil industry present at Davos Forum, witnessed a climate of increasing uncertainty about the economic situation. Moreover, according to the OPEC Secretary-General "oil prices collapsed very quickly. If we had reduced production in January, we would have to do it in March and in June. Therefore we have decided to keep it unchanged and see how the market reacts" [abo.net]

» January 22 2015 - #CleanEnergy, #WorldwideInvestment. New clean energy investment surges 12% in 2014. Clean Energy Pipeline, the online financial news and data service dedicated to the clean energy sector, [...] releases its preliminary analysis of venture capital, private equity, project finance, mergers and acquisitions and public markets activity during Q4.14 and 2014. New investment in the global clean energy sector totalled $67.9 billion in Q4.14, a 4% increase on the corresponding quarter in 2013 ($65.2 billion). More significantly total investment for CY2014 increased 12% year-on-year to $274.2 billion, the highest annual investment volume since 2011. "Last year the clean energy industry really demonstrated its resilience," commented Douglas Lloyd, CEO of Clean Energy Pipeline. "Despite a reduction in subsidies in Europe�s major renewable energy markets and very competitive natural gas prices in the US, investment in the global clean energy sector registered its first annual increase since 2011." [cleanenergypipeline.com]

» January 22 2015 - #Coal, #CO2Emissions, #UK. There was a 10 per cent reduction in UK carbon dioxide emissions in the twelve months to October 2014 compared to the previous year, new government data shows. The majority of the 49 million tonne reduction came from reduced energy emissions as a three year surge in UK coal use came to an end, with renewables and gas picking up the slack in power supplies. The reduction saw total UK carbon dioxide emissions fall to their lowest level in the past quarter-century, to 28 per cent below 1990 levels [carbonbrief.org]

» January 22 2015 - #OilPrice, #SaudiArabia, #CarbonBubble. Most analysts believe Saudi Arabia refuses to cut production because it wants to shake out its higher-cost competitors or because it wants to punish Iran and Russia. There may be some truth in those theories, writes Elias Hinckley, strategic advisor and head of the energy practice with international law firm Sullivan and Worcester, but they miss the deeper motivation of the Saudis. Saudi Arabia, he says, sees the end of the Oil Age on the horizon and understands that a great deal of global fossil fuel reserves will have to stay underground to avoid catastrophic global warming. "That's why it has opened the valves on the carbon asset bubble." [energypost.eu]

» January 22 2015 - #ClimateChange, #ClimatePolicy, #US. The U.S. Senate on Wednesday voted 98-1 to approve a resolution stating that "it is the sense of the Senate that climate change is real and not a hoax." Then, about 15 minutes later, the Senate rejected a second resolution that said climate change is real and caused by humans [thinkprogress.org]

» January 22 2015 - #RenewableEnergy, #RenewableEnergyIntegration, #ElectricityGrids, #IEAReport. IEA-RETD is pleased to release the results of the RE-INTEGRATION report, a study on the issues and challenges of the integration of variable renewables energy (VRE) technologies into the electricity grids. The study, carried out by Mott MacDonald, analysed the influence of different jurisdictions' energy context on the integration challenges. It looked into the typical country specific factors determining the choice of integration measures, the applicability and effectiveness of policy measures and drew general lessons for countries with similar underlying characteristics. The study concludes that the continued increase of levels of penetration of VRE technologies requires new policies in order to secure a successful integration of VRE's into markets and power systems. The study finds that there is no 'one size fits all' approach: policy makers will need to tailor their policy interventions to suit their country specific factors, though many VRE integration policies have the additional benefit of promoting efficient markets. Countries with weak interconnection and electrical system flexibility will face the greatest challenge, and so they will need to implement appropriate VRE integration measures at lower levels of VRE penetration. The Volume I: Main Report outlines the overall approach taken, the background and methodology behind the study and key findings. The study undertook a more detailed analysis, through case studies, of 10 jurisdictions around the globe. The case studies included: Canada (Alberta, Ontario), Denmark, Germany, Great Britain, Ireland, Japan (Hokkaido), Spain and USA (California, Texas (ERCOT)). Detailed information relating to each jurisdiction can be found in Volume II: Case Studies [iea-retd.org]

» January 22 2015 - #OilPrice, #Opec, #USShale. U.S. shale drillers won't scale back output quickly enough for OPEC to avoid production cuts this year, according to a quarterly poll of Bloomberg subscribers. Forty-nine percent of analysts, traders and investors surveyed said the Organization of Petroleum Exporting Countries will have to lower its production target this year, while 34 percent said shale drillers will lower output in time. Seventeen percent weren't sure [bloomberg.com]

» January 22 2015 - #SmartGrid, #WorldwideForecastandAnalysis, #ResearchReport. The report "Smart Grid Analytics Market by Solution (AMI Analytics, Demand Response Analytics, Asset Management, Grid Optimization, Energy Data Forecasting/Load Forecasting and Visualization Tools) - Worldwide Forecast and Analysis 2014 - 2019", defines and divides the smart grid analytics market into various segments with an in-depth analysis and forecasting of revenues. This research report also identifies the factors driving this market, various restraints, challenges, and opportunities impacting it along with the future roadmaps. Additionally, the report emphasizes on key adoption trends, evolution of smart grid analytics, attractive market opportunities, and business cases in this innovative market. The Smart Grid Analytics Market to grow from $12 Billion in 2014 to $5.5 Billion in 2019, at a Compound Annual Growth Rate (CAGR) of 25.0% from 2014 to 2019 [marketsandmarkets.com]

» January 22 2015 - #RenewableEnergy, #100%Renewable, #SmartestCompanies, #BriefingReport. To meet the world's growing demand for energy, the most influential companies are finding innovative ways to decarbonize their power use. And the smartest companies are making the boldest commitments of all: to be 100% renewable as an integral part of their business strategies. This RE100 Insight Briefing Report provides a snapshot of current global trends in corporate demand for, and investment in, renewable power. Made up of case studies from RE100 corporate partners, the briefing showscases the most popular renewable power technologies, and which industries are the biggest investors with the best financial returns. RE100: The journey to 100% is the first report of RE100, an initiative of The Climate Group in partnership with CDP, a global campaign working with the world's most influential businesses on their journeys to becoming 100% powered by renewables [theclimategroup.org]

» January 22 2015 - #RenewableEnergy, #India. According to the latest numbers released by the Ministry of New and Renewable Energy(MNRE), the total grid-connected renewable energy capacity stood at 33,792 MW (as of 31 December 2014), out of which 9.1% was contributed by solar. The installed capacity of wind and solar were 22,465 MW and 3,063 MW respectively. During the calender year 2014, a total of 2,314 MW of wind capacity and 886 MW of solar capacity were added [re-solve.in]

» January 21 2015 - #Nuclear, #Finland, #Russia. Rusatom Overseas has signed contracts with several suppliers that bid for work on the Hanhikivi nuclear power plant project in Finland. A subsidiary of state nuclear corporation Rosatom, Rusatom Overseas is responsible for promoting Russian nuclear technology on the global market. A Gidropress-designed AES-2006 plant, which uses a 1200 MWe-class reactor, Hanhikivi 1 and will be built at Pyhajoki in northern Finland and is scheduled to start generating electricity by 2024. The project is owned by Finland's Fennovoima, of which another Finnish company, Voimaosakeyhtio, has a 66% share. The remaining 34% of Fennovoima is held by RAOS Voima Oy, the Finnish subsidiary Rosatom set up last year to hold a stake in the company [world-nuclear-news.org]

» January 21 2015 - #EnergySecurity, #EnergySustainability, #CountryPerformanceIndex, #ResearchPaper. Three blind men and an elephant: The case of energy indices to measure energy security and energy sustainability. A large number of indices claim to quantify the performance of a country in attaining the goal of energy security and energy sustainability. The paper compares three different indices, viz., 'Energy Sustainability Index', 'International Index of Energy Security Risk' and 'Energy Architecture Performance Index' along with their variants to examine if they provide consistent results for various countries. A comparative assessment reveals that the three indices provide different country rankings, which are inconsistent. This situation is akin to three blind men groping the elephant with each one measuring a different part of the body and asserting that only their assessment is true. Further analysis reveals that countries which rank in the top of the list of different indices are insensitive to differences in construction of the index and it can be inferred that they have robust energy systems, which partly resolves the conflict. However, much more needs to be done, to examine energy security and energy sustainability of a country with other relevant tools. It may therefore be concluded that while the country ranking from the individual indices may be correct, basing the assessment of a country's performance, on the score obtained in one specific study may not be accurate [sciencedirect.com, Energy]

» January 21 2015 - #NaturalGas, #WorldwidePipeline, #OGJWebninar. The Forecast & Review/Worldwide Pipeline Construction 2015 Webcast will address Oil & Gas Journal's outlooks for the oil market and pipeline construction in a year of turbulence. Based on two annual special reports [...] The Forecast & Review portion of the webcast will identify forces underlying the collapse in crude oil prices and assess prospects for changes essential to recovery-all in the context of geopolitical pressures buffeting the market. The special report on which it is based appeared in the Jan. 5, 2015, edition of OGJ [...] The pipeline construction outlook previews the Worldwide Pipeline Construction special report coming in the Feb. 2, 2015, issue of OGJ. It projects pipeline mileage, by region and pipeline type, to be completed in 2015 and in years beyond and highlights globally important project planned and under way. 30 January 2015, 11:00 AM EST, 10:00 AM CST, 08:00 AM PST, 16:00 GMT, Free to attend [ogj.com]

» January 21 2015 - #ClimateChange, #GlobalWarming, #2014WarmestYear, #NOAAData. 2014 Global Temperature Recap. A NOAA's animation shows Earth's surface temperature in 2014 compared to the 1981-2010 average, followed by monthly maps of difference from average temperatures for each month January through December 2014. Maps are based on data from NOAA's National Climatic Data Center. In 2014, the combined land and ocean surface temperature was 1.24°F (0.69°C) above the 20th century average, making the year the warmest since records began in 1880. The ocean alone was record warm, while the land alone was fourth warmest. Five months set new records for warmth: May, June, August, September, and December. October tied for record warmest. Nineteen of the twenty warmest years on record have occurred in the past 20 years. Except for 1998, the 10 warmest years on record have occurred since 2002 [climate.gov]

» January 20 2015 - #OilMarket, #OpecJanuaryMarketReport. The OPEC Monthly Oil Market Report covers major issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year. Crude Oil Price Movements. The OPEC Reference Basket averaged $59.46/b in December, following a decline of $16.11 or 21%. In annual terms, the Basket averaged $96.29/b in 2014, representing a decline of $9.58 from the previous year. ICE Brent in December plunged $16.36 to stand at $63.27/b, averaging $99.45/b for the year. Nymex WTI lost $16.52 to stand at $59.29/b in December, for a yearly value of $92.97/b. The Brent-WTI spread stood at $3.98/b. World Economy. World economic growth for 2014 and 2015 remains unchanged from the previous month at 3.2% and 3.6%, respectively. The OECD growth estimate is unchanged at 1.8% for 2014, but the 2015 forecast has been revised to 2.2% from 2.1%. The forecasts for China and India remain unchanged at 7.2% and 5.8% in 2015, respectively. World Oil Demand. Global oil demand is estimated to have grown by 0.95 mb/d in 2014, representing an upward revision of 20 tb/d from the previous month. The adjustment mainly reflects better-than-expected oil demand data from OECD America and China. In 2015, world oil demand is anticipated to rise by 1.15 mb/d, following an upward revision of 30 tb/d due to expectations of higher oil requirements in OECD America and Other Asia. World Oil Supply. Non-OPEC oil supply is estimated to have grown by 1.98 mb/d in 2014, following an upward revision of 260 tb/d from the previous report, driven by higher than expected growth seen at the end of the year. In 2015, non-OPEC oil supply is projected to grow by 1.28 mb/d, representing a downward revision of 80 tb/d from the previous report. OPEC NGLs and non-conventional liquids are expected to average 6.03 mb/d in 2015, up from 5.83 mb/d in 2014. In December, OPEC crude oil production averaged 30.20 mb/d, according to secondary sources, an increase of 0.14 mb/d over the previous month [opec.org]

» January 20 2015 - #RenewableEnergy, #PV, #TechnologyImprovements. [...] The first practical photovoltaic solar cells were the product of Bell Laboratories in the U.S. in 1954 and were able to convert 6% of the sunlight hitting them into electricity. Four years later when the U.S. satellite Vanguard 1 was launched, it was powered by six solar cells. Now, over 50 years later, modern satellites are still powered by photovoltaic cells, some of which have a lifespan of over 40 years. And the commonly used material for making solar cells is still silicon; the material first used all those years back in Bell Laboratories. And just like the costs of semiconductors (which also use silicon) have tumbled, so have solar panel prices. In 2004, a typical 200 watt solar module sold for about $1,300. That same module now sells for around $130 today! And there are further cost reductions to come as technology improvements push conversion efficiencies above the 18% level found in today's standard solar modules towards the rates of a modern satellite (40%). [...] One of the major advantages of photovoltaic solar is that it can be used in both small and large-scale installations. PV can be used to power calculators, they can be mounted onto our roofs or fa�ades, or they can be configured in large-scale plants. Plus, installation is simple and quick. Whereas a nuclear power station with a GW of power capacity could take ten years from inception to commission and generate its first megawatts of power, solar can be deployed at breathtaking speeds. China, for instance, installed just under 11GW of new solar capacity in 2014. And nearly all of these systems required less than six months to plan, construct, and connect to the grid to start delivering power to the public. Solar�s steep cost curve has fueled its viral expansion. In 2000, the global market for solar was a mere 277 MW. In 2014 the market was over 40 GW, and it could well be that this year solar will overtake both coal and gas to become the number one power generation technology [energyandcarbon.com]

» January 20 2015 - #RenewableEnergy, #PowerGenerationCosts, #IrenaReport. The competitiveness of renewable power generation technologies continued improving in 2013 and 2014, reaching historic levels. Biomass for power, hydropower, geothermal and onshore wind can all provide electricity competitively against fossil fuel-fired power generation. Solar photovoltaic (PV) power has also become increasingly competitive, with its levelised cost of electricity (LCOE) at utility scale falling by half in four years. Renewable Power Generation Costs in 2014 aims to reduced uncertainty about the true costs of renewable power generation technologies, so that governments can be more ambitious and efficient in their policy support for renewables. As this comprehensive report from the International Renewable Energy Agency (IRENA) underlines, perceptions that such technologies are expensive or uncompetitive are outdated, at best [irena.org]

» January 20 2015 - #ClimateChange, #Agriculture, #Food, #GeneticResources, #FAO. Genetic resources for food and agriculture play a crucial role in food security, nutrition and livelihoods and in the provision of environmental services. They are key components of sustainability, resilience and adaptability in production systems. They underpin the ability of crops, livestock, aquatic organisms and forest trees to withstand a range of adverse conditions. Thanks to their genetic diversity plants, animals and micro-organisms, in terrestrial and aquatic environments, adapt and survive when their environments change. Genetic diversity is also globally threatened by climate change, which poses new challenges to their management, but it also underlines their importance. Given the importance of the issues, the Food and Agriculture Organization of the United Nations (FAO) prepared, at the request of the Commission on Genetic Resources for Food and Agriculture, thematic studies on the interactions between climate change and plant, animal, forest, aquatic, invertebrate and micro-organism genetic resources (available at Fao). The results of these studies are summarized in the book entitled: "Coping with climate change - the roles of genetic resources for food and agriculture" [...] the book presents six sections dealing with the various sectors of genetic resources for food and agriculture. Each section addresses two key questions: What are the possible effects of climate change on genetic resources for food and agriculture and how does it influence their management? What are the specific roles of genetic resources for food and agriculture in coping with climate change? [fao.org]

» January 19 2015 - #CollapsingOilPrices, #Opec, #Iran, #Iraq, #Geopolitics. The precarious "game theory" equilibrium that worked for decades while OPEC was still a functioning cartel is unwinding before everyone's eyes [...] Iran's budget should be based on oil at $72 per barrel, but Iran could withstand lower oil prices. "Even if the oil price goes down to $25 a barrel, the oil industry will not be threatened," the Fars news agency quoted him [Iran's petroleum minister] as saying [...] the country formerly known as Iraq (and now better known as that region around the Tigris and the Euphrates that does not belong to ISIS) is pumping crude at a record pace and will continue to boost exports this year, its Oil Minister Adel Abdul Mahdi said [zerohedge.com]

» January 19 2015 - #Climate Change, #GHGReductionGoals, #Economics, #Policies, #WRI. The World Resources Institute is pleased to announce the launch of the GHG Protocol Policy and Action Standard and Mitigation Goal Standard - new international standards for assessing the greenhouse gas effects of policies and actions and accounting for national and subnational GHG reduction goals. The standards as well as executive summaries and accompanying documents are available at [ghgprotocol.org]

» January 19 2015 - #Oil, #Economics, #EnergySubsidies, #CarbonEmissions, #IMF, #Lagarde. Christine Lagarde, IMF Managing Director, The year 2015 must be the "year of action" when policymakers redouble their efforts to tackle deep-seated economic weaknesses and show greater political leadership on infrastructure investment, trade agreements, and climate change [...] Test of cheaper oil. The immediate test for many policymakers is the impact of lower oil prices, Lagarde observed. Not so much for oil importers, for whom the windfall provides an opportunity to strengthen their macroeconomic frameworks and may help in alleviating inflation pressures. By contrast, oil exporters need to cushion the shock on their economies. In the euro area cheaper oil is contributing to a further decline in inflation expectations, which increases the risk of deflation and bolsters the case for additional monetary stimulus. Most importantly, Lagarde added, the drop in oil prices also provides a golden opportunity to cut energy subsidies and use the savings for more targeted transfers to protect the poor [...] in 2015 a major United Nations conference will seek to adopt a new set of Sustainable Development Goals, and global leaders will also aim for a comprehensive climate change deal that cuts carbon emissions [imf.org]

» January 19 2015 - #Gas, #Norway. Gassco transported 101 bcm (4 tcf) of gas last year through various offshore trunkline systems to terminals in Belgium, France, Germany, and the UK. Dry gas deliveries from Norway declined slightly in 2014, down by 1.5 bcm (50 bcf) compared with 2013. Gassco adds that it achieved average regularity of 99.92% for the transport system in 2014, up from 99.68% the year before. Deliveries of natural gas liquids and condensate from the west Norwegian process plants at Karsto and Kollsnes (via Vestprosess) rose to 8,106,950 metric tons (8,936,383 tons), against 7,285,460 metric tons (8,030,845 tons) in 2013 [offshore-mag.com]

» January 19 2015 - #WorldEnergy, #WorldEnergyIssuesMonitor, #WorldEnergyCouncil. On 20 January, the World Energy Council (WEC) will publish its World Energy Issues Monitor - an annual survey of over 1,000 energy leaders in over 80 countries. WEC's Secretary-General Christoph Frei notes the biggest changes compared to last year are that energy leaders have become more concerned with security of supply (Russia) and cyber-security. Price volatility and climate framework remain at the top of the worries list. In an in-depth interview with Alex Forbes for World Energy Focus, Frei discusses his own concerns. He believes the long-term trend of the oil price will be upwards, but renewables will make headway only gradually. At the climate conference in Paris later this year he does not expect a global deal, but hopes the "big players" will set up a connected carbon market, which other countries could join in the future. "That would be a real achievement." [energypost.eu]

» January 18 2015 - #RenewableEnergy, #WorldFutureEnergySummit, #UAE, #OnlineBroadcast. The International Renewable Energy Agency (IRENA), the online broadcast of a high-profile event on global renewable energy knowledge. This event will take place on 20 January 2015 at the World Future Energy Summit in Abu Dhabi, UAE. Renewable energy information is often seen as less accessible, detailed and accurate than information on conventional energy technologies. The lack of consistent, transparent data and analysis has created uncertainties for investors and allowed misunderstandings about renewables to persist in public opinion. The international community is striving to improve the quality and timeliness of the publicly available information on renewable energy around the world. The objective of this workshop will be to illustrate the level of renewable energy information currently available and discuss what efforts are needed to accurately capture future market developments [irena]

» January 16 2015 - #EnergyInfratructureProjects, #ClimateTest, #KeystonXL. Major energy infrastructure projects will be more and more put to a climate test. In the US, for example, draft environmental legislation adopted last year stipulates that climate analysis of federal projects should include �downstream� emissions. In future it will not be so easy for companies to say "if we don�t do it, somebody else will". But how do you measure indirect climate effects? The Stockholm Environment Institute is one place where they have started to do this type of analysis. Senior Scientists Peter Erickson and Michael Lazarus describe the results of their greenhouse gas analysis of the biggest pipeline project in the US, Keystone XL, and conclude that it may lead to a substantial increase in greenhouse gas emissions [energypost.eu]

» January 16 2015 - #RenewableEnergy, #IrenaGlobalAtlas. IRENA, CENER (Spain), DLR (Germany), Masdar Institute (UAE), NREL (USA) and MINES ParisTech (France) are very pleased to announce the release of Global Atlas 2.0. This new version features maps for solar, wind, geothermal, bioenergy and marine energy, and includes new functions and tools such as: Map gallery: Search maps by keyword, location or source; Infopicker: Access data, tools and country profiles from REsource - IRENA's Knowledge Gateway; Catalog search: Search for more data by name, location, keyword or data quality (beta); Universal data viewer: Solar and wind graphs and charts in one click [irena.masdar.ac.ae]

» January 16 2015 - #ClimateChange, #CO2EmissionsCosts, #ResearchPaper, #StanfordUni, #NatureClimateChange. The "social cost" of carbon dioxide emissions may not be $37 per ton, as estimated by a recent U.S. government study, but $220 per ton. Estimated social cost of climate change not accurate, Stanford scientists say. The economic damage caused by a ton of carbon dioxide emissions - often referred to as the "social cost" of carbon - could actually be six times higher than the value that the United States now uses to guide current energy regulations, and possibly future mitigation policies [...] A recent U.S. government study concluded, based on the results of three widely used economic impact models, that an additional ton of carbon dioxide emitted in 2015 would cause $37 worth of economic damages. These damages are expected to take various forms, including decreased agricultural yields, harm to human health and lower worker productivity, all related to climate change. But according to a new study, published online this week in the journal Nature Climate Change (Temperature impacts on economic growth warrant stringent mitigation policy), the actual cost could be much higher. "We estimate that the social cost of carbon is not $37 per ton, as previously estimated, but $220 per ton," [...] Their alternative formulation incorporated recent empirical findings suggesting that climate change could substantially slow economic growth rates, particularly in poor countries [news.stanford.edu]

» January 16 2015 - #Oil, #AgeOfOil, #SaudiArabia, #Opec, #Geopolitics. Saudi Arabia's decision not to cut oil production, despite crashing prices, marks the beginning of an incredibly important change. There are near-term and obvious implications for oil markets and global economies. More important is the acknowledgement, demonstrated by the action of world's most important oil producer, of the beginning of the end of the most prosperous period in human history � the age of oil. In 2000, Sheikh Yamani, former oil minister of Saudi Arabia, gave an interview in which he said: "Thirty years from now [2000] there will be a huge amount of oil - and no buyers. Oil will be left in the ground. The Stone Age came to an end, not because we had a lack of stones, and the oil age will come to an end not because we have a lack of oil." Fourteen years later, while Americans were eating or sleeping off their Thanksgiving meals, the twelve members of the Organization of the Petroleum Exporting Countries (OPEC) failed to reach an agreement to cut production below the 30 million barrel per day target that was set in 2011. This followed strenuous lobbying efforts by some of largest oil producing non-OPEC nations in the weeks leading up to the meeting. This group even went so far as to make the highly unusual offer of agreeing to their own production cuts. [...] Saudi Arabia is seeing a new and massively changing energy landscape. The U.S. and China have agreed to bilateral carbon reduction targets. 2014 is now officially the hottest year recorded in human history, a record set almost impossibly without the presence of El Nino. And on January 7 a report released in Nature lays bare the fossil fuel climate change equation by concluding that to achieve anything better than a 50/50 shot at keeping global warming under 2 degrees centigrade (the most widely accepted threshold for avoiding catastrophic climate change) 82% of fossil reserves must remain in the ground. That report puts hard numbers on the percentages of fossil fuels that must �stay in the ground� and calls for 38% of proven Mideast oil reserves to never to be pumped from the ground. That 38% represents some 260 billion barrels of oil � worth tens of trillions of dollars � much of that not held in Saudi reserves [theenergycollective.com]

» January 15 2015 - #Methane, #Emissions, #Oil&Gas, #US. The Obama Administration [...] is announcing a new goal to cut methane emissions from the oil and gas sector by 40 - 45 percent from 2012 levels by 2025, and a set of actions to put the U.S. on a path to achieve this ambitious goal. U.S. oil production is at the highest level in nearly 30 years, providing important energy security and economic benefits. The U.S. is also now the largest natural gas producer in the world, providing an abundant source of clean-burning fuel to power and heat American homes and businesses. Continuing to rely on these domestic energy resources is a critical element of the President's energy strategy. At the same time, methane - the primary component of natural gas - is a potent greenhouse gas, with 25 times the heat-trapping potential of carbon dioxide over a 100-year period. Methane emissions accounted for nearly 10 percent of U.S. greenhouse gas emissions in 2012, of which nearly 30 percent came from the production transmission and distribution of oil and natural gas. Emissions from the oil and gas sector are down 16 percent since 1990 and current data show significant reductions from certain parts of the sector, notably well completions. Nevertheless, emissions from the oil and gas sector are projected to rise more than 25 percent by 2025 without additional steps to lower them. For these reasons, a strategy for cutting methane emissions from the oil and gas sector is an important component of efforts to address climate change. [...] Achieving the Administration's goal would save up to 180 billion cubic feet of natural gas in 2025, enough to heat more than 2 million homes for a year and continue to support businesses that manufacture and sell cost-effective technologies to identify, quantify, and reduce methane emissions [...] In 2012, the Environmental Protection Agency (EPA) laid a foundation for further action when it issued standards for volatile organic compounds (VOC) from the oil and natural gas industry. These standards, when fully implemented, are expected to reduce 190,000 to 290,000 tons of VOC and decrease methane emissions in an amount equivalent to 33 million tons of carbon pollution per year [...] EPA will develop new guidelines to assist states in reducing ozone-forming pollutants from existing oil and gas systems in areas that do not meet the ozone health standard and in states in the Ozone Transport Region. These guidelines will also reduce methane emissions in these areas. The guidelines will help states that are developing clean air ozone plans by providing a ready-to-adopt control measure that they can include in those plans [...] EPA will continue to promote transparency and accountability for existing sources by strengthening its Greenhouse Gas Reporting Program to require reporting in all segments of the industry. In addition to finalizing the updates to the program EPA has already proposed by the end of 2015, EPA will explore potential regulatory opportunities for applying remote sensing technologies and other innovations in measurement and monitoring technology to further improve the identification and quantification of emissions and improve the overall accuracy and transparency of reported data cost-effectively [...] The Department of Interior's Bureau of Land Management (BLM) will update decades-old standards to reduce wasteful venting, flaring, and leaks of natural gas, which is primarily methane, from oil and gas wells. These standards, to be proposed this spring, will address both new and existing oil and gas wells on public lands [...] The Department of Transportation's Pipeline and Hazardous Materials Safety Administration (PHMSA) will propose natural gas pipeline safety standards in 2015. While the standards will focus on safety, they are expected to lower methane emissions as well. [...] The President's FY16 Budget will propose $15 million in funding for the Department of Energy (DOE) to develop and demonstrate more cost-effective technologies to detect and reduce losses from natural gas transmission and distribution systems. This will include efforts to repair leaks and develop next generation compressors. The President's budget will also propose $10 million to launch a program at DOE to enhance the quantification of emissions from natural gas infrastructure for inclusion in the national Greenhouse Gas Inventory in coordination with EPA [whitehouse.gov]

» January 15 2015 - #OilPrices, #OilProductionForecast, #US, #EIA. Even with oil prices continuing to plummet and oil companies decommissioning drilling rigs every day, the Energy Department on Tuesday projected that domestic crude production would continue to rise in 2015, although growth would slow. The forecast of even more American supplies on an oversupplied global market was not unexpected, but it added to the probability that oil prices that have plummeted around 55 percent since June will not completely recover any time soon. But the department projected a modest recovery for the Brent global oil price benchmark, now around $46 a barrel, which it said would average $58 a barrel this year but rebound to $75 in 2016. On Tuesday, both Brent and the American benchmark oil prices tumbled sharply, but later rose from their lows. The projection came hours after North Dakota regulators reported that oil companies had decommissioned eight rigs overnight, reducing the number in the state to the lowest level in over four years. North Dakota, the No. 2 state in oil production behind Texas, still has 158 rigs drilling, but only last month there were 183 rigs operating. Nevertheless, the report issued by the department's Energy Information Administration forecast that total American crude production that averaged 9.2 million barrels a day at the end of 2014 would average 9.3 million barrels a day in 2015 [nytimes.com]

» January 15 2015 - #RenewableEnergy, #StableEnergy, #EnergyStored, #ResearchPaper. A New Approach for Converting Renewable Energy to Stable Energy. A renewable energy plant which relies on wind speed or solar insolation is unreliable because of the stochastic nature of weather patterns. It is theorized that by using multiple renewable energy plants in separate areas of a region, the differ- ent weather conditions might approach a probabilistically independent relationship. The goal of this paper is to utilize the power system technology to help disseminate wind and solar power systems to get a stable energy. A new approach to get appropriate stable energy is achieved by using the interrupted energy that obtained from wind farm and solar in- solation. This is achieved by lifting water to a higher level with appropriate pumps and storing it in the form of potential energy. Then a stable energy is obtained by reliving water to the lower level. In this paper, the efficiency obtained from the renewable energy is compared with that obtained from traditional ones. An experimental model to simulate the process of converting the renewable energy to a stable energy is presented. The obtained results from experimental model explained that the renewable energy can be converted to a stable one with high efficiency [Engineering, scirp.org]

» January 15 2015 - #LowOilPrices, #Geopolitics, #EnergyMarkets. CSIS Conference, The Energy Market Impacts of Low Oil Prices: How Low? How Long? For the past several years, oil prices have remained in a predictably stable price "band" of around $100/barrel - in spite of an unprecedented spate of global disruptions and new geopolitical unrest. A combination of lackluster oil demand growth, an unprecedented supply surge courtesy of U.S. tight oil production, and other market factors has led to a rapid decline in global oil prices. While it is likely too early to answer the critical questions about how low prices will go, how long they will stay there, and whether this recent price collapse will lead to a new oil price band or an era of greater price volatility, it is a good time to start assessing some of the key variables to watch. This session is an opportunity explore the various oil market dynamics at play and assess the potential implications and outlooks for the future - Wednesday, January 28th, 2015 [csis.org]

» January 14 2015 - #RenewableEnergy, #US, #IrenaReport. The International Renewable Energy Agency (IRENA) has just released a new report for renewable energy in the USA. The report shows that the United States can increase the use of renewable energy in its energy mix from 7.5 per cent in 2010 to 27 per cent by 2030 - and in the power sector alone to almost 50%. The report shows that in order to reach this mark an annual investment of USD 86 billion between today and 2030 in renewable technologies is required - an increase of USD 38 billion beyond a business-as-usual. The report also finds that higher deployment of renewables will result in annual savings of USD 30 � 140 billion by 2030 when accounting for benefits resulting from reduced health effects and CO2 emissions. The report is part of IRENA's renewable energy roadmap, REmap 2030, which provides a plan to double the share of renewable energy in the world's energy mix by 2030 and determines the potential for the US and other countries to scale up renewable energy in the energy system, including power, industry, buildings, and the transport sector [irena.org]

» January 14 2015 - #ClimateChange, #ClimatePolicy, #Geopolitics. Climate change: a complex, challenging issue, and in some ways a failure. Dale Jamieson, Professor of Environmental Studies and Philosophy, Affiliated Professor of Law, and Director of the Animal Studies Initiative at New York University, has dedicated his book "Reason in a Dark Time: Why the Struggle Against Climate Change Failed � and What It Means for Our Future" to explaining this failure while providing a comprehensive history of the denial and political paralysis that have prevented us from stopping global warming. Evolution, he argues, did not design us to address or even identify this kind of problem. The challenges that climate change presents go beyond the resources of common sense morality while making it hard to believe that our individual actions matter [climatescienceandpolicy.eu]

» January 14 2015 - #OilPrices, #OilImports, #China, #Geopolitics. Oil prices continue to decline, despite record-high volumes of oil imports by China, and analysts say a recent set of price forecasts for crude all point in same direction - down. [Yesterday] Brent futures had fallen by $0.92 to $46.51 a barrel, while WTI futures were down by $0.72 to $45.35. Prices for both benchmarks have been falling seven weeks in a row, and are now at the lowest level since April 2009, Reuters reports. [...] Analysts at the investment bank Goldman Sachs have lowered their mid-year price forecast for the international benchmark Brent crude oil in 2015 from $83.75 to $50.40 per barrel, and for U.S. benchmark WTI crude from $73.75 to $47.15. According to them, investments in shale oil will decline if the price for U.S. benchmark remains at $40 during the first half of the year. Analysts of Dutch bank ABN Amro have lowered their mid-year price forecast for Brent crude oil in 2015 to $60 per barrel, and that for WTI to $55 per barrel. China's crude oil imports in December reached record volumes, exceeding seven million barrels per day for the first time [unian.info]

» January 14 2015 - #NaturalGas, #UE, #Russia, #Geopolitics. A Mild winter and robust European Union policy have blunted the edge of what was once Vladimir Putin's most effective foreign-policy weapon: the politicised export of gas. [...] Why has Russia lost its hold on European gas? European policymakers still remember the shocks of 2006 and 2009, when Russia cut gas supplies to Ukraine amid a row about prices and debts, leading to heating crises and factory closures in countries such as Slovakia and Hungary, and making western European countries such as Germany scramble to find alternative supplies. Europe gets a third of its gas from Russia, half of it from pipelines across Ukraine. [...] Since then the EU has made some big changes. It pushed through a controversial but effective liberalisation of the gas market, known as the Third Energy Package: Russia cannot now both own and control pipelines on EU territory. The EU has has also made the supply system a lot more resilient, putting taxpayers' money into new interconnectors between countries dependent on Russian gas imports. This rewrites the rules. If supplies from the east are interrupted, the countries affected can import gas from elsewhere. [...] Moreover, a mild winter means Europe's gas consumption is low and storage is high for the time of year. Even if Russia did try to interrupt supplies, the effect would be modest [...] The low oil price is straining the Kremlin's coffers. In December, Mr Putin abruptly cancelled the $40 billion South Stream pipeline to central Europe via the Black Sea and Balkans after it ran into trouble [economist.com]

» January 13 2015 - #CollapsingOilPrices, #SaudiArabia, #US, #Venezuela. The Minister of Petroleum and Mineral Resources Ali bin Ibrahim Al-Naimi met here today with US Deputy Secretary of Energy Dr. Elizabeth Sherwood-Randall and her accompanying delegation. During the meeting, they reviewed the situations of the international oil market, and discussed cooperation in the fields of energy, environment, climate change, uses of solar energy, joint investments, and the exchange of technical and technological experiences between the two countries [spa.gov.sa]. Venezuelan President Nicolas Maduro met Sunday with Saudi Arabia's Crown Prince Salman, a day after talks with Iran's supreme leader focused on the slump in global oil prices. The official Saudi Press Agency reported that the leaders discussed areas of cooperation between the two OPEC-member countries and ways to promote bilateral ties. [...] Oil prices have plunged more than 55 percent since June to less than $50 a barrel, placing a severe strain on Venezuela and other oil-producing countries like Iran. Saudi Arabia has strong financial reserves to weather lower oil prices, but Venezuela's cash-strapped government is among the cartel's most vulnerable. Analysts estimate that Venezuela needs oil at $110 per barrel to continue meeting its budgetary obligations. Saudi Arabia, OPEC's largest oil producer, has refused to cut production despite willingness to do so by Venezuela and others. Saudi Arabia's oil minister has argued that curbing production would erode the kingdom's market share and would have no impact on oil prices. A recent Bank of America Merrill Lynch Global Research report said that physical oil supply is still outpacing demand, setting the stage for a further slide in prices in the first quarter of 2015. The report said there is a growing risk of U.S. crude prices moving below $35 a barrel in the near term and Brent crude to $40 a barrel [pennenergy.com]

» January 13 2015 - #CollapsingOilPrices, #FrackingBubble, #FinancialCrisis As Congress removes restrictions on taxpayers bailing out the too-big-to-fail banks, the right is blaming environmentalists and Russia for the demise of the fracking boom. In reality, the banks' junk bonds and derivatives have flooded Wall Street, and now the fracking bubble threatens another financial crisis. Collapsing crude oil prices due to oversupply are reaching tsunami proportions, threatening Wall Street banks, investors and a dozen countries, foremost Russia, Iran and Venezuela, where revenue losses have caused severe financial degradation, and economies are about to implode. While Americans are today enjoying $2 per gallon gasoline, Wall Street's analysts predict that an imminent energy market collapse will bring financial institutions to their knees once again, and taxpayers are being set up for another mandatory bailout [truth-out.org]

» January 13 2015 - #ClimateChange, #EnvironmentalMigration, #InternationalOrganizationforMigrationReport. As the environment, climate change and migration complex nexus is drawing increasing attention in the contemporary international agenda, The State of Environmental Migration 2014: Review of the Year 2013 is the fourth of our annual publication1, with a specific focus on the year 2013 and aiming to enhance understanding on natural disasters, sudden onset events and slow onset events and their links to human mobility. The publication is not only focused on 2013 events but does also consider the longer term impacts of a natural event on migration, as we can assess them with the state of knowledge we have in 2013, as well as developments at policy level relating migration, climate and the environment [iom.int]

» January 13 2015 - #NaturalGas, #Security, #RenewableEnergy, #Efficiency, UE, #Towards2030Paper. How can renewables and energy efficiency improve gas security in selected Member States? This fact-finding paper seeks to identify recent trends in natural gas use and import dependencies in twelve rather vulnerable EU Member States and to analyse the potential to reduce insecurity of external gas supplies of these countries in the short and longer term up to 2030. In doing so, the potential contribution of renewables and energy efficiency to reduce gas import dependency will be assessed [towards2030.eu]

» January 13 2015 - #OilPrices, #U.S.StockFutures. U.S. stock futures were higher in early trading, after a two-day slide on concern about plummeting oil prices and whether earnings at large corporations might show weakness as a result. Oil prices continued their dramatic slump to near-six-year lows this morning, as an oil minister from OPEC reiterated that the group would not be changing its production strategy [cnbc.com]

» January 13 2015 - #Oil&GasIndustry, #Exploration&ProductionSpending. Global exploration and production spending is expected to decline at least 8.8% in 2015 vs. 2014, according to 225 companies surveyed in the Barclays E&P Spending Outlook. North American budgets, meanwhile, are expected to fall at least 14.1% with significant downside potential, Barclays said. Survey results estimated $679 billion worldwide E&P capital spending for 2014 compared with an estimated $619 billion for 2015. For North America, survey results estimated $196 billion for 2014 E&P spending compared with an estimated $166 billion for 2015. The results provide only a "snapshot" of industry's planning as of December, said David Anderson, a Barclays services and equipment analyst. At the time of the survey, participants assumed average 2015 oil prices of $70/bbl for Brent and $65/bbl for US light, sweet crude oil. "We would expect spending to decline as much as 30% or more if 2015 West Texas Intermediate prices hold" in the vicinity of $50/bbl [...] A competing spending survey [...] indicated global capital expenditures for E&P projects are expected to drop 17% to $571 billion in 2015 [...] The Barclays survey showed 40% of North American E&P companies expect drilling and completion costs to fall more than 10%, a complete reversal from 2014 [ogj.com]

» January 12 2015 - #NaturalGas, #SouthStream, UE, Russia, Turkey, Geopolitics. South Stream Is Dead. Long Live South Stream. South Stream is not dead - rather it has morphed into a new project which is part of a complex commercial power play on the part of Russia and Turkey [...] the new South Stream, if it happens, will offer new opportunities to Europe, but also new threats. In particular, the EU will see its diversification strategy come under pressure as Azerbaijan and potential Central Asian suppliers are likely to be squeezed by the Moscow-Ankara alliance [energypost.eu]

» January 12 2015 - #Coal, #Biomass, IEA CCC Webinar. Wednesday 21 January at midday (UK time). Biomass could have an important role in the strategy to reduce greenhouse gas emissions from large coal plants. Amongst the plethora of different biomasses, wood pellets have emerged as one of the most successful and fast growing internationally traded commodities. Wood (and straw) pellets offer a more energy dense and transportable alternative to the traditional wood chip, a product most commonly associated with the paper and pulp industry. A few large scale projects in Europe have drawn on North American sources to supplement local supplies of biomass without any major problems. At current levels of demand, there appears to be an abundance of wood resource. However, extending cofiring at low rates (5-10%) to the world's coal-fired fleet will increase demand for wood pellets significantly. Meeting this demand will offer opportunities and challenges for the entire biomass supply chain, not least forest resources. This presentation accompanies a report by the IEA Clean Coal Centre to review the current understanding of world biomass resources using published forestry data from the UN Forestry and Agricultural Organization (FAO). From these data, the author attempts to identify a global and regional resource figure for wood in the form of residues and waste by-products that arise from the forestry industry; and discusses the broad issues that affect forest resources worldwide [iea-coal.org.uk]

» January 12 2015 - #OilPrice, #EnergyPolicy, Russia, Geopolitics. The price of the benchmark Brent crude fell below $49 per barrel on the Intercontinental Exchange (ICE) in London on Monday. Brent futures dropped by 2.2% as of 07:35 GMT to $48.97 per barrel. The Russian ruble continued its downside slide on the Moscow Exchange on Monday amid falling world oil prices. As of 1:43 p.m. (10:43 GMT), the dollar rose by 1.10 rubles to 62.65 while the euro climbed by 1.85 rubles to 74.09 [itar-tass.com]

» January 12 2015 - #Oil, #EnergyPolicy, US. Oil prices have declined sharply over the last six months, with the U.S. benchmark closing below $50/barrel on Jan. 6th, for the first time since 2009. A number of factors have contributed to this fall in prices, including an increase in U.S. tight oil production and decreased global demand. Beyond the immediate financial benefits of lower fuel prices for U.S. consumers, the falling price of oil raises several policy questions. Impacts on financial markets and geopolitical tensions that could be exacerbated if the low price persists are only a few of the potential issues U.S. policymakers may find themselves dealing with [ourenergypolicy.org]

» January 12 2015 - #OilConsumption, #EnergyPolicy, US. America Shakes Its Addiction to Oil. As GDP grows and gas prices plunge to the lowest levels in four years, oil consumption should be soaring. It isn't [bloomberg.com]

» January 09 2015 - #NaturalGas, #EnergyPolicy, Turkey, TANAP-TAP Pipeline, #Geopolitics. With all of the recent references to Turkey's energy policy, it appears that most people and even specialists, are not well aware of what constitutes to a "gas hub". In a nutshell, a region might become a physical gas hub when it creates an intensive network facilitating a financial, spot and transportation market for natural gas that would be utilized by many players in and out of that specific region for their trade and businesses. In this respect, it is unlikely Turkey would become such a place, as it is neither located in a region with a free gas market with non-oil-indexed pricing, nor does it have a favourable position for becoming an LNG trade centre. However, due to its geographic location, Turkey indeed merits and attempts to become a pipeline transit network in the region, linking the Eastern and Northern energy sources to Europe. Neighbouring gas-rich countries naturally have interests to transfer their gas through Turkey which is also enjoying noticeable growth in gas demand. Azerbaijan is in most favourably positioned with its SCP and TANAP-TAP projects in terms of using its closest neighbour as a transit to Europe [naturalgaseurope.com]

» January 09 2015 - Unburnable Fossil Fuels, Oil, Gas, Coal, Global Warming, Geopolitics. Canada, Russia, Saudi Arabia and the U.S. cannot burn much of the coal, oil and gas located within their national territories if the world wants to restrain global warming. That's the conclusion of a new analysis aimed at determining what it will take to keep average global temperatures from rising more than 2 degrees Celsius this century-a goal adopted during ongoing negotiations under the United Nations Framework Convention on Climate Change. "If we want to reach the two degree limit in the most cost-effective manner, over 80 percent of current coal, half of gas and one third of oil need to be classified as unburnable," said Christophe McGlade, a research associate at University College London's Institute for Sustainable Resources (ISR) and lead author of the report published in Nature on January 8, during a press conference. (Scientific American is part of Nature Publishing Group.) Those global restrictions apply even if technologies that can capture carbon dioxide and dispose of it become widespread over the next decade. "Rapid development of [carbon capture and storage] only allows you to produce very slightly more." [scientificamerican.com]

» January 08 2015 - Renewable Energy, Geothermal Energy, Oil Price. When the price of oil drops, there are winners and losers. People tend to think that all types of renewable energy lose out to cheap oil, but that is not the case. One renewable source that wins is geothermal. Countries along Latin America's Pacific Coast and in the Caribbean have significant geothermal resources; however, these have been underexploited. It is estimated that only 4-5% of geothermal energy's potential has been developed in the region. [...] geothermal currently accounts for only a minimal portion of the energy matrix in Latin America and the Caribbean. This situation is changing. Many countries�with support from the IDB-are working to develop new geothermal plants, to make this technology a reality for the region. We have seen more and more activity, whether direct (exploration or project construction) or indirect (policies conducive to investment). The drop in the price of crude oil in the last few months could boost these efforts. It's a simple question of supply and demand. The geothermal industry and the oil industry use all the same drilling services, which can amount to as much as 50% of a project's total budget [bruni, iadb.org]

» January 08 2015 - Oil Price, Oil Production, US, Canada. Oil prices have almost bottomed out and "some recovery" is likely by the second half of the year as demand picks up, commodity hedge fund manager Andrew J. Hall told investors. Crude could trade in the $40-a-barrel range in 2015, close to "an absolute price floor," the head of Astenbeck Capital Management wrote in a Jan. 2 letter obtained by Bloomberg News. A significant amount of U.S. and Canadian production can't cover the cash costs of operating at that price [bloomberg.com]

» January 08 2015 - Energy Policy, EU, Energy Union. The EU readies to overhaul its energy governance. The reach and power of the EU and its institutions are up for serious debate as Europe prepares to enter into an "Energy Union". The European Commission plans to publish its vision for such a Union by the end of February. But already member states and Members of the European Parliament are weighing in with their own ideas of what Europe should prioritise � and who should be in charge [energypost.eu]

» January 08 2015 - Climate Change, Fossil Fuel, Economics, Geopolitics. Vast amounts of oil in the Middle East, coal in the US, Australia and China and many other fossil fuel reserves will have to be left in the ground to prevent dangerous climate change, according to the first analysis to identify which existing reserves cannot be burned. The new work [The geographical distribution of fossil fuels unused when limiting global warming to 2C, published in the journal Nature] reveals the profound geopolitical and economic implications of tackling global warming for both countries and major companies that are reliant on fossil fuel wealth. It shows trillions of dollars of known and extractable coal, oil and gas, including most Canadian tar sands, all Arctic oil and gas and much potential shale gas, cannot be exploited if the global temperature rise is to be kept under the 2C safety limit agreed by the world's nations. Currently, the world is heading for a catastrophic 5C of warming and the deadline to seal a global climate deal comes in December at a crunch UN summit in Paris [...] the new study is the first to reveal which fuels from which countries would have to be abandoned [theguardian.com]

» January 07 2015 - Climate Change, IPCC Fifth Assessment Report, Environmental Law Institute Articles. The Intergovernmental Panel on Climate Change's (IPCC) Fifth Assessment Report presented significant data and findings about climate change. But the IPCC's working groups' summaries for policymakers avoid making normative statements about the IPCC's findings. The authors of this collection of essays are members of the Environmental Law Collaborative, a group of environmental law scholars that meet to discuss important and timely environmental issues. Each scholar chose one passage from one of the IPCC's three Summaries for Policymakers as a jumping-off point for exploring climate change issues and responding directly to the reports. They each identify and analyze a wide variety of normative claims that stem from the working groups' summaries to spark deeper discussion and hopefully help shape the IPCC's sixth assessment [papers.ssrn.com]

» January 07 2015 - Oil Market, Oil Prices. [...] The big question is what oil prices will do in 2015. Oil prices are unsustainably low right now - many high-cost oil producers and oil-producing regions are currently operating in the red. That may work in the short-term, but over the medium and long-term, companies will be forced out of the market, precipitating a price rise. The big question is when they will rise, and by how much [energyvoice.com]

» January 07 2015 - Climate Change, Global Warming. It's official: 2014 has taken the title of hottest year on record. That ranking comes courtesy of data released Monday by the Japan Meteorological Agency (JMA), the first of four major global temperature recordkeepers to release their data for last year. The upward march of the world's average temperature since 1891 is a trademark of human-influenced global warming with 2014 being the latest stop on the climb. All 10 of the hottest years have come since 1998. The average temperature was 1.1°F above the 20th century average according to JMA's data. That edges 1998, the previous warmest year, by about 0.1°F [scientificamerican.com]

» January 07 2015 - Oil, Pipeline, Energy and Environmental Policy, US, Canada. The White House on Tuesday threatened to veto the first piece of legislation introduced in the Republican-controlled Senate, a bill approving the much-delayed Keystone XL oil pipeline, in what was expected to the first in many confrontations over energy and environmental policy. Hours after supporters of the bipartisan bill, sponsored by all 54 Republicans and six Democrats, announced its introduction, the White House said for the first time that President Barack Obama would veto it. White House press secretary Josh Earnest said Tuesday he does not expect Obama would sign any Keystone legislation that reaches his desk. He said legislation should not undermine a "well-established" review process being run by the State Department or circumvent a lawsuit still pending in Nebraska over the pipeline's route. The two main sponsors, Sen. Joe Manchin, D-W.Va., and Sen. John Hoeven, R-N.D., said Tuesday morning they had enough votes to overcome a filibuster of the bill but not a presidential veto. The House is expected to vote and pass a bill approving the $5.4 billion project, which was first proposed in 2008, on Friday [pennenergy.com]

» January 07 2015 - Energy, Geopolitcs. Geopolitics is the battle for space and power played out in a geographical setting. Just as there are military geopolitics, diplomatic geopolitics and economic geopolitics, there is also energy geopolitics. For natural resources and the trade routes that bring those resources to consumers is central to the study of geography. Every international order in early modern and modern history is based on an energy resource. Whereas the Age of Coal and Steam was the backdrop for the British Empire in the 18th and 19th centuries, the Age of Petroleum has been the backdrop for the American Empire from the end of the 19th to the early 21st centuries. And indeed, just after other countries and America's own elites were consigning the United States to a period of decline, news began to emerge of vast shale gas discoveries in a host of states, especially Texas. The Age of Natural Gas could make the United States the world's leading geopolitical power well into the new century. [...] "Asia has become 'ground zero' for growth" as far as the consumption of energy is concerned, writes Malik. His research shows that over the next 20 years, 85 percent of the growth in energy consumption will come from the Indo-Pacific region. Already, at least a quarter of the world's liquid hydrocarbons are consumed by China, India, Japan and South Korea. According to the World Energy Outlook, published by the International Energy Agency, China will account for 40 percent of the growing consumption until 2025, after which India will emerge as "the biggest single source of increasing demand," in Malik's words. The rate of energy consumption growth for India will increase to 132 percent; in China and Brazil demand will grow by 71 percent, and in Russia by 21 percent. Malik explains that the increase in demand for gas will overtake that for oil and coal combined [forbes.com]

» January 06 2015 - Coal, Climate Change, Competitiveness, Energy Security, CSIS Commentary. Perhaps no other energy topic today elicits such starkly polarized attitudes as coal. Coal is vilified as a dirty fuel by some and praised as a necessary means for developing economies to modernize by others. These debates are unlikely to subside, as coal is the second-largest primary energy source in the world today and coal consumption is expected to keep growing for decades to come. In particular, coal continues to play a dominant role in developing countries, where the need for cheap and reliable energy to fuel economic development drives coal use. Continued reliance on coal in these economies, however, has spurred concern about how to de-conflict continued reliance on coal for economic development with the need to address climate change. There are several main economic, technology and public policy issues to consider in reconciling the two divergent coal narratives today, as emphasized at a recent public conference, Revisiting the Role of Coal: Competitiveness, Climate, and Security run by the CSIS Energy and National Security Program on December 17 [csis.org]

» January 06 2015 - Unconventional Oil, US. American Eagle Energy Corp., Denver, has suspended its 2015 drilling budget and does not anticipate resuming drilling operations until crude oil prices improve. American Eagle operates in the Bakken and Three Forks formations in North Dakota. "The company continues to be focused on capital discipline and maintaining liquidity," a Dec. 31, 2014, news release said. After drilling the Huffman 15-34S well in November 2014, American Eagle released the drilling rig. American Eagle expects to conduct completion operations in the first quarter on two gross (1.9 net) wells (Byron 4-4 and Shelley Lynn 4-4N) were drilled during the 2014 fourth quarter. The company anticipates that its average production for the fourth quarter will be 2,600-2,700 boe/d [ogj.com]

» January 05 2015 - Energy Policy, Climate Policy, Poland, Fridtjof Nansen Institute (FNI) Report. This report examines Poland's implementation of the EU climate and energy policy package to attain 2020 goals: the extent to which and how these policies have been implemented to date, why and with what consequences for Poland's positions on new EU climate policies. Because unanimity is required on new long-term climate and energy policy goals, the relationship between the EU and Poland is crucial. Indigenous coal accounts for nearly 90% of the country's electricity production and 50% of its total CO2 emissions. The first observation is that there have been significant implementation problems concerning the ETS, RES and CCS Directives. The EU package cannot be said to have been a 'game changer' - Poland has mainly opposed and absorbed the package to make it fit with existing policies and energy mix. Second, implementation challenges arise from EU adaptation pressure and 'misfit' with national policies, negotiating position and energy mix. Domestic politics has also proved important: The consistency in governmental prioritization of coal, opposition to climate policy by state-owned energy groups and privileged access to decision making for these groups. Moreover, lack of willingness, ability and opportunities at the national level to transform the linking of various policies and issues that promoted EU level agreement has made Poland increasingly resistant to long-term EU policies. This is partly reflected in the new 2030 climate and energy policy framework adopted by the European Council in October 2014. Still, there are some signs of changes that may drive Poland towards a 'greener' pathway in the future [fni.no]

» January 05 2015 - Oil, Prices, Markets, Supplies. The oil market is set for "more problems" this year as increasing supplies from countries including Russia and Iraq add to the global glut that drove prices almost 50 percent lower in 2014, according to Morgan Stanley. Output may increase from fields in West Africa, Latin America, the U.S. and Canada in addition to more exports from Russia and Iraq, offsetting concerns of reduced production in Libya, analysts including New York-based Adam Longson said in an e-mailed report today. Iran may raise overseas shipments by about 500,000 barrels a day if western sanctions against the country are lifted, according to the report. Morgan Stanley is predicting additional supplies coming to the market as the Organization of Petroleum Exporting Countries maintains its production quotas and the U.S. pumps at the fastest rate in more than three decades. Benchmark prices are extending declines in a bear market as OPEC pumped above target for a seventh straight month in December [bloomberg.com]

» January 05 2015 - Electric Vehicles (EV), Oil, BMW. BMW have started from scratch with i3 and have created with it the world's first mass produced automobile to use carbon fiber reinforced plastic throughout the vehicle. This high-tech material is around 50% lighter than steel components and allows BMW to reduce the weight of the car (incl. batteries) to the weight of a similar sized combustion engine car. With the launch of the i series, BMW is not only showing strong leadership and a good sense of timing in launching a new brand for electric cars, but also launching a "test bed" which will allow the company to put in place radical new manufacturing methods, enter the electric vehicle race as well as test new services. The latter is very important because if electric cars do take off then many of the incumbent manufacturers will come under significant profit margin pressure. As it now stands circa 10-15% of total industry profitability comes from after sales services including the sale of spare parts. The issue with EVs and in particular the i3 is that it has a much simpler design with fewer components, which translates into lower maintenance needs and lower spending on replacement parts. The big question is whether the industry can offset these falls in margins by new activities such as car sharing and re-charging. This is what BMW is attempting to do with the i-series and projects such as the Drive Now car sharing program. In addition, BMW offers an extensive range of services for i3 which they label, their 360° ELECTRIC package. This includes the installation of the BMW i Wallbox in the customer's garage, a renewable energy supply offer, to the charging card for user-friendly access to the public charging infrastructure and additional driver assistance services from BMW ConnectedDrive. Besides learning about the future BMW is also selling lots of i3s, some 8,401 units in the first eight months of the year. Whatsmore the i3 is already outselling Tesla in North America. In August BMW sold sold 1,025 i3s in North American as opposed to 600 Model S's. And things are probably going to get better for BMW given that the total cost of ownership of a BMW i3 in its home market Germany (over a three year period) is very similar to that of say the BMW X1. In addition, with battery costs likely to fall by 50% over the next few years plus carbon fiber costs according to BMW to fall to the aluminum production levels by 2020 it will not be long before the costs of an electric car are lower than a traditional combustion engined car [energyandcarbon.com]

» January 05 2015 - Energy Policy, Climate Change Policy, UK. Last year was a rough one for the climate change secretary, the Lib Dems' Ed Davey. The big government offer in 2010 of a clear, market-driven energy policy turns out to have been easier to promise than to deliver. That is partly the fault of coalition politics. Energy became the battleground for the most fundamental differences between the two partners. As a result, a policy area that demands long-term thinking has been mired in uncertainty. The case for green energy has been widely undermined by misleading accounts of its cost to the consumer. David Cameron, the man who used to say vote blue, go green, now talks of cutting the green crap. In the midst of the political squabbling, the Department of Energy and Climate Change (Decc) has lurched between crises. Last month, faced with warnings from the power-generation industry that they were working at something close to full capacity, with a margin of as little as 2% at times of peak demand, Mr Davey's department looked for a cast-iron guarantee that the lights would stay on. Although many independent observers argued that the 2% margin was likely to be breached only in an extreme winter, and then only for a very short period, last month the National Grid held the first ever auction for capacity contracts which can ensure the lights will not go out. The generators guaranteed they would have power available and, in return, were guaranteed sales at a price that, when it comes on stream three years from now, will cost consumers about �1bn a year [theguardian.com]

» January 02 2015 - Energy, Oil, Gas, Coal. Wood Mackenize's analysts highlight key global themes and predictions to look for in 2015. Oil markets: Struggling to find balance in 2015 [...] Natural Gas: LNG suppliers hoping for cold [...] Macroeconomics: Asia's consumers are key [...] Coal: China's shift to cleaner consumption [...] Corporate: A true buyers' market could emerge in 2015 [...] Based on Wood Mackenzie's predictions, OPEC and Asia will continue to be big players in 2015 impacting energy markets [oilonline.com]

» January 02 2015 - Oil Price, Renewable Energy, BNEF Research. Oil price plunge and clean energy - The real impact. The 45% fall in oil prices is being portrayed as a big blow to clean energy deployment. In fact, its impact will vary by sector and region, but will be modest in major electricity markets where renewables compete with gas and coal, and benefit from stable policy support [bnef.com]

» January 02 2015 - Renewable Energy, Solar Energy, California, US. California continues to set daily records for utility scale solar energy. On June 1, 2014, the California Independent System Operator (CAISO) recorded a record midday hourly peak of 4,767 megawatts of alternating current (MWAC) of utility-generated solar electricity delivered into the California grid. With rapidly growing utility-scale solar capacity, CAISO has regularly recorded new hourly output records going back to 2010 when it first began publishing the daily data. When the hourly data are averaged over the course of a month to control for weather variation, the average peak hourly generation in May 2014 of 4,086 MWAC was 150% greater than the level in May 2013. In 2013, 2,145 MW of utility-scale solar capacity entered service in California, of which more than 500 MW came from large-scale solar thermal plants. California accounted for more than 75% of U.S. utility-scale solar capacity installed in 2013. Total solar electricity output in May 2014 constituted 6% of the total CAISO electricity load that month, compared with 2% in May 2013. However, during the average peak solar output hour, between 11:00 a.m. and noon for May 2014, solar supplied 14% of total power, compared with 6% in May 2013. Solar generation facilities generally provide power to the CAISO grid from early morning until the evening, and reach peak output around midday. When solar electricity is being generated, less electricity from other sources such as natural gas or interstate electricity imports is required. Conversely, when there is little-to-no solar generation, the shares of other fuels used in California's supply mix rise [eia.gov]

» January 02 2015 - Oil, US, Opec, Saudi Arabia. Oil fell in 2014 by the most since the 2008 global financial crisis as U.S. producers and the Organization of Petroleum Exporting Countries ceded no ground in their battle for market share amid a supply glut. The U.S. benchmark ended at a five-year low yesterday, capping a 46 percent drop in 2014, as stockpiles of crude oil and gasoline reached seasonal record highs and as OPEC produced more than its quota in December for a seventh month. Goldman Sachs Group Inc. (GS) said it expects a "far lower2 new normal for prices and Barclays Plc (BARC) said oil has "further downside risk." Oil's slump has roiled currencies including the Russian ruble and the Nigerian naira and squeezed government budgets in producing nations including Venezuela and Ecuador. It's also boosted China's emergency crude reserves and helped shrink fuel subsidies in India and Indonesia. U.S. drivers may save as much as $75 billion at gasoline pumps in 2015, AAA said. Low prices have prompted producers including ConocoPhillips and Continental Resources Inc. (CLR) to plan spending cuts for 2015 [bloomberg.com]

» January 01 2015 - Climate Change, CO2 Emissions, Annual Report, 'Trends in global CO2 emissions' . 2013 saw global CO2 emissions from fossil fuel use and cement production reach a new all-time high. This was mainly due to the continuing steady increase in energy use in emerging economies over the past ten years. However, emissions increased at a notably slower rate (2%) than on average in the last ten years (3.8% per year since 2003, excluding the credit crunch years). This slowdown, which began in 2012, signals a further decoupling of global emissions and economic growth, which reflects mainly the lower emissions growth rate of China. China, the USA and the EU remain the top-3 emitters of CO2, accounting for respectively 29%, 15% and 11% of the world�s total. After years of a steady decline, the CO2 emissions of the United States grew by 2.5% in 2013, whereas in the EU emissions continued to decrease, by 1.4% in 2013 [reportingclimatescience.com]

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