In Germany and Italy, coal-fired power plants that were once decommissioned are now being considered for a second life. In South Africa, more coal-laden ships are embarking on what’s typically a quiet route around the Cape of Good Hope toward Europe. Coal burning in the U.S. is in the midst of its biggest revival in a decade, while China is reopening shuttered mines and planning new ones.
Spiking gas prices across Europe. Complaints from middle-class families from Madrid to the Midlands. Editorials are written about Europe's over-reliance on Russian gas, yet it flows unabated despite a slew of geopolitical concerns.
The repurposing of Europe’s oil and gas pipelines for the transport of carbon dioxide for carbon capture storage (CCS) and hydrogen to fuel the energy transition, could cut the capital outlay to achieve the European Union’s (EU’s) ambitious climate change mitigation targets by more than 70 billion euros, a study showed.
The bulk of the heavy lifting – almost half – in replacing Russian imports is to be achieved by importing 50 bcm more LNG compared to 2021. It is worth noting that, in the first two months of 2022, LNG imports into the EU were already around 10 bcm higher than in 2021
Following Russia’s invasion of Ukraine on 24 February 2022, energy markets are in turmoil. Oil and gas prices are rising and exhibiting high volatility as the markets grapple with the impact of sanctions and the prospect of reduced flows from Russia.
Climate is the most important investment narrative of our lifetime, and if the world has any hope of reaching net-zero targets by 2050, we need to electrify our modes of transportation. We are spreading the event over two weeks.
As we move away from our dependency on fossil fuels and transition towards renewable energy sources, the old business model of oil behemoths that have generated so much cash both for the companies and their investors is at risk.