Category Archives: Gas

EU in row over inclusion of gas and nuclear in sustainability guidance

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Activists including Greta Thunberg criticise ‘fake climate action’ in response to planned investment taxonomy

The European Commission is facing a backlash from Greta Thunberg and fellow climate activists over plans to include gas and nuclear energy in a “green” investment guidebook.

Both energy sources are expected to feature in the next part of the EU’s “taxonomy for sustainable activities”, which is expected at the end of the year, following a period of intense political bargaining between the commission president, Ursula von der Leyen; the French president, Emmanuel Macron; and Germany’s new chancellor, Olaf Scholz.

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Gas crisis fuels call for UK to update energy security policy

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As rising tensions with Russia over Ukraine drive prices to record highs, experts warn of lack of strategy for gas supply

Ministers are relying on an outdated energy security policy, leading academics have warned, as escalating tensions between Russia and western leaders propelled the gas market to record price highs.

UK gas reached a record closing price of 322.5 pence per therm on Tuesday, according to data from market price experts at ICIS, vaulting ahead of the previous high of just over 298p/therm set in early October this year.

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Gazprom profits as Russia prospers from Europe’s gas crisis

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State-owned company accused of ‘selling as much gas as possible without lowering market prices’

• Gas prices near record highs as Berlin rejects pipeline from Russia

About 12.7bn cubic feet of gas flowed into Europe from Russia’s state-owned Gazprom last month. The world’s largest gas producer typically supplies more than a third of the needs of countries across the European Union, but in November flows dwindled to a six-year low.

Gas supplies from Russia have fallen well short of pre-pandemic levels for months. The volumes of Russian gas flowing into homes, businesses and storage facilities this year have been almost a quarter below those in 2019.

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Gas prices near record highs as Berlin rejects pipeline from Russia

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Germany says escalating tensions over Ukraine are one factor in Nord Stream 2 not getting green light

• Gazprom profits as Russia prospers from Europe’s gas crisis

Gas prices across the UK and Europe are on course to return to record highs after Germany said a controversial pipeline from Russia could not be approved amid deepening tensions on the Ukrainian border.

The German foreign minister, Annalena Baerbock, said the Nord Stream 2 pipeline could not be given the green light in its current form because it did not meet the requirements of EU energy law.

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Germany’s foreign minister under pressure over Nord Stream 2 sanctions

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Annalena Baerbock has sympathy with US demands, but there is considerable Social Democrat support for Russia’s pipeline

Germany’s new foreign minister, Annalena Baerbock, has been caught a diplomatic vice days into the job, as US puts pressure on the coalition government in Berlin to vow to block the Nord Stream 2 pipeline in the event of Russia invading Ukraine.

The controversial pipeline project, which runs from Ust-Luga in Russia to Lubmin in north-east Germany, is also likely to be the first test of the new German government’s unity of approach.

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UK ‘embarrassed’ into funding Mozambique gas project, court hears

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Friends of the Earth cites documents suggesting UK’s reputation could suffer if it pulled $1.15bn of promised support

The UK was “embarrassed” into funding a huge gas project in Mozambique while considering ending overseas support for fossil fuels, a court has heard.

During a three-day high court hearing, Friends of the Earth highlighted government documents that suggested there would be “obvious repercussions” if the government did not follow through on $1.15bn of support to an offshore pipeline and liquefied natural gas plant in Cabo Delgado province.

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Old UK oilwells could be turned into CO2 burial test sites

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Exclusive: Consortium of energy firms and universities says underground storage of hydrogen can also be investigated

Exhausted oil and gas wells would be turned into the UK’s first deep test sites for burying carbon dioxide next year, under plans from a consortium of universities and energy companies.

There are hundreds of active onshore oil and gas wells in the UK. But as they come to the end of their lives, some need to be redeployed for trials of pumping CO2 underground and monitoring it to ensure it does not escape, the group says. The test wells could also be used to assess how hydrogen can be stored underground.

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Germany suspends approval for Nord Stream 2 gas pipeline

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Move follows mounting politcal pressure to scrap project in setback to Kremlin-backed project

Germany has suspended its approval process for the controversial Nord Stream 2 gas pipeline which would double its reliance on Russian gas following growing geopolitical pressure to scrap the project.

Energy markets across Europe surged after the German energy regulator suspended its certification process, in a big setback to Kremlin-backed Gazprom’s plans to extend Russian gas dominance via a new pipeline across the Baltic Sea.

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Claims that Russia is using energy as a weapon is nonsense, says Putin – video

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President Vladimir Putin says Russia is ready to provide more gas to Europe if requested, emphatically rejecting the suggestion that Moscow is squeezing supplies for political motives. European gas prices have hit record levels this month, but the Kremlin has repeatedly denied that Russia is deliberately withholding supplies in order to exert pressure for quick regulatory approval of the Nord Stream 2 gas pipeline across the Baltic Sea to Germany

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Europe’s soaring gas prices: does Russia hold solution to crisis?

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Some believe Kremlin sees gas prices as chance for Gazprom to pressure west to speed up Nord Stream 2 approval

The natural gas market has entered uncharted territory. The movements in the price of gas on Wednesday had been, in the words of one analyst, “unprecedented since the year dot of gas liberalisation in Europe”. In record swings, Dutch wholesale gas, a European benchmark, soared by 30% within one period of three or four hours from an already eye-watering level.

These are chilling numbers for European governments with winter stretching ahead, and when the EU sneezes, the UK, heavily reliant on imports from across the Channel, also catches a cold.

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Nord Stream 2 approval may cool gas prices in Europe, says Russia

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Deputy PM calls for rapid clearance from German regulator after prices reach an all-time high

Russia’s deputy prime minister has said certification of the Nord Stream 2 undersea gas pipeline, which is awaiting clearance from Germany’s regulator, could cool soaring European gas prices.

Prices have risen sharply in response to a recovery in demand, particularly from Asia, with storage levels low.

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Business minister bids to calm crisis fears as UK gas prices soar

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No cause for alarm now, says Kwasi Kwarteng as energy discussions are likened to early Covid crisis talks

The government was scrambling on Saturday night to reassure Britons that rising gas prices would not plunge the country into an energy crisis, as ministers held a series of emergency meetings with energy companies and regulators to establish whether the nation could keep the lights and central heating on this winter.

A senior industry insider likened the meetings held between the business secretary, Kwasi Kwarteng, and energy industry leaders to the early crisis talks held following the outbreak of Covid-19.

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BHP to shift oil and gas assets into Woodside Petroleum as part of major overhaul

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Global miner declares a bumper profit due to high iron ore prices but slashes value of NSW coalmine to become a $200m liability

Global miner BHP is planning a major overhaul, simplifying its company structure and dumping its oil and gas assets into Woodside Petroleum, creating one of the biggest energy producers in the world.

BHP on Tuesday declared a bumper profit due to high iron ore prices, as it announced it will bring together its Australian and UK arms into one company and leave the London Stock Exchange, which could have ramifications for investors.

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UK plan to replace fossil gas with blue hydrogen ‘may backfire’

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Academics warn ‘fugitive’ emissions from producing hydrogen could be 20% worse for climate than using gas

The government’s plan to replace fossil gas with “blue” hydrogen to help meet its climate targets could backfire after US academics found that it may lead to more emissions than using gas.

In some cases blue hydrogen, which is made from fossil gas, could be up to 20% worse for the climate than using gas in homes and heavy industry, owing to the emissions that escape when gas is extracted from the ground and split to produce hydrogen.

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Reduce methane or face climate catastrophe, scientists warn

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Exclusive: IPCC says gas, produced by farming, shale gas and oil extraction, playing ever-greater role in overheating planet

Cutting carbon dioxide is not enough to solve the climate crisis – the world must act swiftly on another powerful greenhouse gas, methane, to halt the rise in global temperatures, experts have warned.

Leading climate scientists will give their starkest warning yet – that we are rushing to the brink of climate catastrophe – in a landmark report on Monday. The Intergovernmental Panel on Climate Change will publish its sixth assessment report, a comprehensive review of the world’s knowledge of the climate crisis and how human actions are altering the planet. It will show in detail how close the world is to irreversible change.

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G7 nations committing billions more to fossil fuel than green energy

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In spite of green rhetoric, money has piled into aviation and car industries since start of pandemic, report finds

The nations that make up the G7 have pumped billions of dollars more into fossil fuels than they have into clean energy since the Covid-19 pandemic, despite their promises of a green recovery.

As the UK prepares to host the G7 summit, new analysis reveals that the countries attending committed $189bn to support oil, coal and gas between January 2020 and March 2021. In comparison, the same countries – the UK, US, Canada, Italy, France, Germany and Japan – spent $147bn on clean forms of energy.

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‘Cataclysmic day’ for oil companies sparks climate hope

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Court and investor defeats over carbon emissions a historic turning point, say campaigners and lawyers

A “cataclysmic day” for three major oil companies in which investors rebelled over climate fears and a court ordered fossil fuel emissions to be slashed has sparked hope among campaigners, investors, lawyers and academics who said the historic decisions marked a turning point in efforts to tackle the climate crisis.

A Dutch court on Wednesday ordered Shell to cut carbon emissions from its oil and gas by 45% by 2030. A tiny activist investor group simultaneously won two places on ExxonMobil’s board and Chevron’s management was defeated when investors voted in favour of forcing the group to cut its carbon emissions.

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Suspected Russia-led cyber campaign targets Germany’s Green party leader

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Annalena Baerbock faces social media onslaught after voicing opposition to Nord Stream 2 project

Fears are growing in Berlin of a Russian-led cyber campaign against the leader of Germany’s Green party after she pledged to block a gas pipeline project between Russia and Europe.

Annalena Baerbock, who is running to succeed Angela Merkel as chancellor in September’s election, has been targeted in recent days by an increasingly vicious campaign across social media.

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Fighting rages in Mozambique close to Total’s gas project

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Islamist insurgents have attacked strategic port town of Palma, near gas operations on Afungi peninsula

Helicopter gunships have exchanged fire with Islamist insurgents as fighting raged for a second day around a strategic town in northern Mozambique.

The town of Palma was attacked earlier this week in a three-pronged assault by rebel fighters which was launched just hours after Total, the France-based oil and gas company, announced that it would resume work on its multibillion-dollar liquified natural gas project nearby.

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EU leaders approve sanctions on Turkish officials over gas drilling

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Bloc defers decision on trade tariffs and arms until consultation with Biden administration

EU leaders have agreed to impose sanctions on an unspecified number of Turkish officials and entities involved in gas drilling in Cypriot-claimed waters – but they deferred bigger decisions such as trade tariffs or an arms embargo until they have consulted with the upcoming Biden administration.

The decision reached by the EU council after hours of heated debate disappointed hardliners such as France, Cyprus and Greece, which had pressed for more urgent and substantive action to express EU disapproval of Turkish foreign policy.

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