Category Archives: Gas

Let Africa exploit its natural gas reserves, says Mary Robinson

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Ex-UN climate envoy says continent’s need for energy is so great it should be able to widely use the fossil fuel

African countries should be able to exploit their vast natural gas reserves despite the urgent need to cut global greenhouse gas emissions, the former UN climate envoy Mary Robinson has said.

Robinson, the chair of the Elders group of former world statespeople and business leaders, said African countries’ need for energy was so great that they should use gas widely, in contrast to developed countries that must halt their gas use as quickly as possible to stave off climate breakdown.

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PM says prospect of Chinese naval base in Cambodia ‘concerning’ – as it happened

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Prime minister responds to reports of Chinese naval base in Cambodia; nation records 29 Covid deaths. This blog is now closed

There’s no magic fix for inflation, Jason Clare says

Education minister Jason Clare appeared on the Today show this morning alongside Scott Emerson.

Inflation is through the roof. Wages are through the floor. We have got interest rates knocking at the door. The Reserve Bank ... have made it clear there will be a number of interest rate rises, which makes it harder for people with big rate rises already. Especially for people who are ahead in their mortgage, but if you have just signed up and the bank says you have to pay more, it will make it harder and harder.

There is no simple magic fix to this.

The market expects them to increase interest rates because we have an inflation problem in the economy and rising interest rates were something that the Reserve Bank governor flagged before the election and that is the trajectory we are on, but just because these interest rate rises are expected, it won’t make them any less difficult for a lot of people who are already confronting cost-of- living pressures.

That is the unfortunate reality. There is no point mincing words about that. Our job is the government is to make sure that after some of this near-term cost-of-living relief runs out that it is replaced by responsible long-term sustainable cost-of-living relief in areas like medicines and childcare, getting power bills down over time and getting real wages moving again.

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Chris Bowen says Labor ‘actively managing’ energy crisis as Dutton criticises response

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Bowen blames decade of inaction on renewables and limitations on gas trigger for preventing a swifter fix

Chris Bowen has rejected Coalition claims Labor is not doing enough to fix the energy crisis, labelling its input “as effective as advice from the captain of the Titanic on navigation skills”.

The climate change and energy minister told Sky News on Sunday the new government was “actively managing” the crisis but a decade of inaction on renewables and limitations on the gas trigger was preventing swifter fixes.

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‘World of pain’: warnings of gas shortages amid soaring power prices add to Australia’s energy woes

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Aemo has identified a possible shortfall of gas supplies on Thursday in Victoria, SA and Tasmania amid ongoing burst of cold weather

Australia’s energy woes are mounting with the market operator warning of potential gas supply shortages on Thursday, one of the largest generators issuing a profit warning and more retailers turning away customers as wholesale power prices soar.

Just hours after new treasurer, Jim Chalmers, warned of “this perfect storm of energy price spikes … doing enormous damage to our employers, to our households, and to our national economy,” spot power prices were soaring towards $1,000 per megawatt hour in most of the east coast grid after an alert – now cancelled – that Victoria was facing evening reserve shortages.

More concerning, though, was a separate warning by the Australian Energy Market Operator (Aemo) that it had identified a possible shortfall of gas supplies in Victoria, South Australia and Tasmania on Thursday amid an ongoing burst of cold weather.

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Russia cuts gas supplies to Netherlands and firms in Denmark and Germany

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Gazprom raises stakes in sanctions war after EU move to embargo most Russian oil imports and companies miss deadline to pay in roubles

Russia has further cut off gas supplies to Europe, after state energy giant Gazprom turned off the taps to a top Dutch trader and halted flows to some companies in Denmark and Germany.

The intensification of the economic battle on Tuesday over Russia’s invasion of Ukraine follows the EU’s overnight decision to place an embargo on most Russian oil imports as part of its financial sanctions against the Kremlin.

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Could a cartel of large energy consumers cut oil and gas prices?

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Italy’s PM Mario Draghi suggests big consumers club together to limit how much is paid and raises idea of EU gas price cap

Energy prices are skyrocketing as the world confronts the economic ramifications of Russia’s invasion of Ukraine, supply chain bottlenecks and the lingering effects of Covid-19 lockdowns. But Italy’s prime minister, Mario Draghi, has a plan.

The celebrated former European Central Bank president recently broached the idea of creating a “cartel” of oil consumers at a meeting with Joe Biden. Just as the biggest oil-producing nations club together through Opec to agree annual oil production quotas, Draghi has suggested big energy consumers join forces to increase their bargaining power.

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AGL’s coal implosion shows what a disorderly transition to clean energy looks like

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What happens from here is unclear, but the company’s turmoil can’t be divorced from the Coalition’s policy failures

The spectacular implosion at AGL Energy, Australia’s biggest corporate greenhouse gas polluter, has been years in the making and should have ramifications across Australia’s political and business classes.

The short story is that this is what a disorderly transition to a clean economy looks like – the kind that we have long been warned will happen if governments don’t plan for the future.

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Ban on new gas connections will help transition Victoria away from fossil fuels, inquiry finds

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Parliamentary committee also recommends cut-off date for sale of diesel and petrol cars

A Victorian parliamentary committee has recommended the Andrews government consider a ban on gas connections in new homes to help accelerate the state’s transition to renewables.

It also urged Victoria to commit to a cut-off date for the sale of new petrol, diesel and gas-fuelled vehicles.

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Russia halts gas supplies to Finland as payments row with the west escalates

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Russia cut off gas to Bulgaria and Poland last month amid an energy payments dispute sparked by Putin’s invasion of Ukraine

Russia has halted providing natural gas to neighbouring Finland, which has angered Moscow by applying for Nato membership, after the Nordic country refused to pay supplier Gazprom in roubles.

Gazprom Export has demanded that European countries pay for Russian gas supplies in roubles because of sanctions imposed over Moscow’s invasion of Ukraine, but Finland refuses to do so.

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Average price of gas surpasses $6 a gallon for first time in California

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The price is a record high for the state and follows a record high average price nationwide at nearly $4.59 a gallon

The average price of gas in California has surpassed $6 a gallon for the first time ever as fuel costs across the US reach record highs.

Drivers in the Golden state are paying more for a gallon of fuel than anywhere else in the country at an average of $6.06, an all-time high for California and the US, according to AAA. The national average is nearly $4.59 a gallon, also a record, increasing 10 cents since Monday. Meanwhile, in some rural regions of California prices are even higher – fuel costs more than $7 a gallon in Mono county in the state’s east.

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EU plans ‘massive’ increase in green energy to help end reliance on Russia

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European Commission says extra €210bn needed over next five years to pay for phasing out of Russian fossil fuels

The EU plans a “massive” increase in solar and wind power, and a short-term boost for coal, to end its reliance on Russian oil and gas as fast as possible.

In a plan outlined on Wednesday, the European Commission said the EU needed to find an extra €210bn (£178bn) over the next five years to pay for phasing out Russian fossil fuels and speeding up the switch to green energy.

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Industry call for Australia to ‘unlock wealth’ of new oil and gas fields at odds with IEA warning

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Increasing supply is ‘absolutely part of the solution’ to decarbonising the economy, Appea chair tells conference

Fossil fuel representatives have joined the Morrison government in rejecting scientific warnings that no new oil and gas fields should be opened if the world is to deal with the climate crisis, with a national conference hearing Australia should be “smart enough” to back continued expansion.

Increased gas and oil supply was “absolutely part of the solution” to decarbonising the economy, the annual conference of gas industry group the Australian Petroleum Production and Exploration Association (Appea) was told.

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EU comes to the crunch over Russia’s demands to pay roubles for gas

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Brussels commissioner says energy ministers accept bowing to Moscow’s demands would breach sanctions, as payment date looms

Europe is facing a crunch point in mid-May when EU member states will have to reject Moscow’s demands for fuel payments to be made in roubles – despite being without alternative gas supply, Brussels has warned.

Kadri Simson, the European commissioner for energy, said on Monday that the Kremlin’s demands had to be rebuffed despite the risks of an interruption to supply at a time that the shortfall cannot be made good.

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Mike Cannon-Brookes buys up AGL shares in bid to block energy giant’s demerger

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AGL says it’s determined to go ahead with the merger despite the purchase, which has made Cannon-Brookes the company’s largest single shareholder

AGL Energy, Australia’s biggest electricity generator, says it remains determined to pursue its plan to split despite a bid for a blocking stake by technology billionaire Mike Cannon-Brookes.

In a second tilt at the company in three months, Cannon-Brookes bought 11.28% of the AGL shares through his family’s Grok Ventures firm, making him the largest single shareholder.

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Hinkley Point B nuclear plant could be spared imminent closure

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Energy minister Kwasi Kwarteng believed to be open to extension in response to leap in gas prices and energy security concerns

Nuclear power advocates believe energy minister Kwasi Kwarteng is open to extending the life of the Hinkley Point B plant to help wean the UK off gas imports and prevent a faster-than-expected decline in Britain’s fleet of atomic reactors.

Soaring gas prices and the war in Ukraine have already spurred the government to ask coal power plant owners to stay open longer, while ministers also revisited their staunch opposition to fracking in the light of energy supply concerns.

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Australia’s wholesale power prices double in a year as coal-fired power plants falter

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The jolt in costs is being blamed mostly on more expensive fossil fuels and falling reliability of coal-fired power plants

Wholesale power prices in Australia’s main electricity market continued to rise in the first three months of 2022, more than doubling the cost a year earlier, with the increase blamed mostly on more costly fossil fuels and the falling reliability of coal-fired power plants.

Renewable energy, meanwhile, grew its share of the market to more than one-third, pushing carbon emissions from the largest polluting sector to new lows, according to the quarterly energy dynamics report from the Australian Energy Market Operator (Aemo).

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European gas firms seek ways to pay after Putin’s roubles demand

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Energy suppliers in Germany and Austria confirm they are looking at sanctions-compliant methods

Energy companies in Europe are considering opening Russian accounts to pay for gas from Gazprom after Vladimir Putin’s regime cut off supplies to Poland and Bulgaria and insisted other countries must pay in roubles.

Big gas distributors in Germany and Austria confirmed they were seeking ways to continue to make payments after Putin signed a decree at the end of March calling for a “special procedure for foreign buyers’ fulfilment of obligations to Russian suppliers of natural gas”.

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Russia accused of blackmail after gas supplies to Poland and Bulgaria halted

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EU hits out at move that Kremlin says is response to countries’ failure to pay in roubles

Europe appears to be on the brink of an energy crisis that could further drive up household bills after Russia halted gas supplies to two EU countries and threatened others, in a move condemned by European leaders as blackmail.

The immediate consequence of Gazprom’s decision to stop supply to Poland and Bulgaria while warning other nations opposed to Russia’s war in Ukraine that they could soon be hit was a 20% rise in the wholesale gas price.

In an address in St Petersburg, Vladimir Putin said any countries attempting to interfere in Ukraine or creating “unacceptable strategic threats for us” would be met with a “lightning-fast” response from Moscow. He claimed he had “all the tools for this – ones that no one can brag about … We will use them if needed. And I want everyone to know this. We have already taken all the decisions on this.”

The UN secretary general, António Guterres, arrived in Ukraine committing to evacuate civilians and seek a diplomatic way to end the war, after his controversial meeting with Putin and the Russian foreign minister, Sergei Lavrov, in Moscow on Tuesday.

Serhiy Volyna, the acting commander of the 36th marine brigade in the besieged port city of Mariupol, said hundreds of civilians including children were living in unsanitary conditions and running out of food and water.

The interior ministry of Moldova’s breakaway region of Transnistria issued a statement claiming it had come under attack from Ukraine, raising fears that the country would now be dragged into active conflict.

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How worried should Europe be as Russia starts cutting off gas supplies?

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Analysis: Putin is determined to use resource as a weapon, as shown in move to cut off Poland and Bulgaria

The unavoidable truth looming over Europe’s response to the invasion of Ukraine is that Russian gas heats the continent’s homes and powers its industries.

While European leaders have vowed to wean themselves off Kremlin-controlled supplies, both of gas and oil, the reality is that this is very hard to do in short order. There will be at least one more cold winter to come before major energy-hungry economies that rely heavily on Russia, such as Germany and Italy, can tap other sources.

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Public lands to reopen for oil and gas drilling in a first under Biden

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Interior department raises royalty rates by 50% as administration juggles high oil prices and climate impact

As federal officials weigh efforts to fight the climate crisis against pressure to bring down high gasoline prices, the interior department is moving forward with the first onshore sales of public oil and natural gas drilling leases under Joe Biden.

The move also calls for a sharp increase in royalty rates for companies, ostensibly to limit global emissions driving the climate crisis, though economists say the effect will be relatively small.

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