In the diplomatic fallout from the crisis in Crimea, European leaders are said to be scrambling to reduce their dependence on Russian gas. You cannot negotiate with Putin if he holds all the aces.
LNG
40% of US Frack Gas Could be Exported
Over 40 per cent of the entire US marketed gas production could be exported, if all the LNG applications go ahead.
British LNG Imports at Risk in Gulf Crisis
More on the growing Iranian crisis. Brent crude is rising this morning due to worries over serious disruptions to the supply of crude after Iran warned its Arab neighbours of “consequences” if they raised oil output to replace Iranian loses through international sanctions. As the US has increased diplomatic pressure on countries that import Iranian … Read More
As Copenhagen begins, Obama Approves $3 Billion for Exxon
Undermining its own credibility in Copenhagen and the integrity of its pledge to phase out support for fossil fuels, an agency of the Obama Administration, the United States Export-Import Bank, has reportedly approved $3 billion in financing for an Exxon led consortium constructing a liquefied natural gas plant on Papua New Guinea. The Obama Administration … Read More
IEA to Reduce Oil Demand Forecasts Again
The tar sands may be doomed. Two of the key arguments against exploiting it are gaining traction, and both may be enough to scupper investment. Yesterday I blogged about how the idea of a carbon-constrained world, which could fatally undermine tar sands extraction, was beginning to be debated in the mainstream press: the message being … Read More
Shell Warns of “Oil Spikes” as its Tar Sands Strategy is Criticised
The outgoing CEO of oil giant Shell, Jeroen van der Veer, has warned of “oil spikes” in the years to come as investment in the oil industry fails to keep up with demand. “There are going to be six to nine billion people by 2050 and it means more energy use, especially in this part … Read More
Shell: World’s Most Carbon Intensive Oil Company
Of all the oil majors, Shell prides itself on undertaking cutting edge energy forecasting, that not only inform the group’s thinking but also dove-tail into policy making by decision makers across the energy spectrum. It is one of the few companies to get out its crystal-ball and try and predict what the energy future will … Read More
The spoils of war are coming home…
It could be the ultimate irony for millions of people who opposed the illegal war in Iraq – within months when they switch on their heating or their cooker, they could be burning Iraqi gas. Their homes could be heated by the spoils of war. Yesterday Shell signed a $4 billion gas deal – the … Read More
LNG Tankers Vulnerable to Terror Attack
A report by US watch-dog, the Government Accountability Office has concluded that the Coast Guard lacks the resources to adequately protect tankers carrying liquefied petroleum or crude oil from a possible terrorist attack. The report concluded that the Coast Guard is stretched too thin in some cases “to meet its own self-imposed security standards such … Read More
ExxonMobil Shelves $5.5bn PNG Pipeline
ExxonMobil and Oil Search, Papua New Guinea’s leading oil and gas producer, have ditched a $5.5bn plan to build a gas pipeline between PNG and Australia, saying they would focus instead on other more “promising investments” to tap into the vast gas reserves of the Pacific nation. The decision was anticipated as the project had … Read More