We are an independent news outlet providing analysis and insight into the clean energy transition of oil and gas companies and countries globally.
#gasoutlook
This week's top 3
#ONGT
tweets and tweeters:
1. Turkey and energy diversification,
@hcanercan
2. Spain imposes a natural gas price cap,
@JavierBlas
3. Sokhranovka and the possible natural gas net flows fall,
@tmarzecmanser
“We have the opportunity to make out of this COP a real turning point, we have no time" -- Teresa Ribera, Spain's Environment Minister, talking at
#COP28
during an announcement that Spain, Kenya and Samoa have joined the
@beyondoilgas
alliance
@Teresaribera
“There are many options on the table right now that speak to the phasing out of fossil fuels. It is for the parties to unpick that but come up with a very clear statement that signals the terminal decline of the fossil fuel era as we know it”— Simon Stiell, Executive Secretary of
The Vatican calls for an immediate end to all new exploration of fossil fuels, and an urgent phase-out of existing production.
@jesuitczerny
on behalf of Pope Francis said that new fossil fuel projects “every day accelerate our race towards the precipice.”
Don’t miss the top
#ONGT
tweets of the week👇
1⃣
@trocaforum_ew
discussed with
@hcanercan
about energy and energy security
2⃣
@tmarzecmanser
- EU natgas demand in November was 24% below the five-year average
3⃣
@tmarzecmanser
- Record daily LNG send-out to EU’s natgas grid (29 Nov)
The language used to describe the future of fossil fuels in the final
#COP28
agreement is the most controversial issue at the U.N. summit this year
Read more here ⬇️
If you haven't followed the gas chat this week, you can check out the top
#ONGT
tweets👇
1⃣First FSRU arrives in 🇩🇪,
@SergioChapa
2⃣Strong uptick in gas storage withdrawal as weather turned freezing in🇪🇺,
@A_Schroeder1985
3⃣The price discount is evaporating on LNG
@ira_joseph
New report by
@CREACleanAir
highlights that Russia earned a record-breaking €93 bn from
#FossilFuel
exports in the first 100 days of the war.
The EU imported 61% of this.
Despite a drop in export volumes, higher fuel prices boosted Russia’s revenues.
"
New reports by
@CambridgeEcon
found that EU households are spending much more on energy than in 2020 and Govts are spending billions to help consumers pay bills and cut taxes. Widespread deployment of renewables could bring significant benefits to the EU.
The most liquid LNG marker - the JKM - was around $6 per mm Btu one year ago. Today a cargo was bought in the same spot market for around $39.3/mm Btu by Trafigura (source
@PlattsGas
&
@SStapczynski
)
#ONGT
#gasoutlook
The climate community is calling for a coordinated withdrawal of EU countries from the
#EnergyCharterTreaty
that allows energy companies to sue governments over legislation that they deem as hurting their fossil fuel investments.
@BeaBedeschi
,
@BJVerbeek
Time to check this week's top
#ONGT
tweets:
1. 🇩🇪industry is cutting
#natgas
demand
2.🇬🇧 is planning new
#nuclear
reactors to boost production
3. 66% of Germans would have no problems with gas from Nord Stream 2, according to survey
@tmarzecmanser
,
@michaeltanchum
#Biomethane
could be a potential alternative to Russian gas. According to the REPowerEU paper, 🇪🇺could increase biomethane production by a factor of 10 by 2030, but it'll require 100bn in investments,
@OlivierGuerrini
said.
New article by
@WalstadAndreas
⬇️
Deepwater drilling for oil and gas is gaining a fresh foothold in
#Argentina
, defying climate warnings and predictions for falling demand
Read more here ⬇️
We're excited to have
@nickcunningham1
joining us this week as Gas Outlook's new Energy Transition Correspondent, covering all things
#gas
and
#energytransition
in North America.
Stay tuned for the latest news and insights.
A new report by
@PriceofOil
finds that despite an array of
#netzero
pledges, decarbonisation plans of western
#oilandgas
majors are woefully inadequate and will not be enough to keep global warming below 1.5c.
Read more ⬇️
"
“
#Methane
emissions from oil and gas alone could be reduced by 75% with existing technologies, highlighting a lack of industry action on an issue that is often very cheap to address”, the
@IEA
.
Regulators are beginning to propose more stringent rules.
Exxon is eyeing a new LNG project in Albania. The pre-feasibility report is expected to be delivered in the third quarter, while the targeted start-up could be as early as 2023.
#ONGT
#gasoutlook
The number of
#netzero
commitments from the world’s top
#fossilfuel
companies has doubled in the past year, but these net zero claims suffer from “credibility gaps” so significant that they are “largely meaningless,” a new report by
@NetZeroTracker
says⬇
Check out the highlights of another week of interesting
#ONGT
tweets.
1⃣
@ira_joseph
, the market is awash with LNG and sellers just want to shift it.
2⃣
@SergioChapa
’s last day at Bloomberg.
3⃣
@HelenCRobertson
, 🇩🇪 finishes building its first LNG import terminal in just 200 days.
New report by
@IEEFA
finds that the majority of carbon capture projects have failed or are underperforming. Moreover, most of the
#CO2
captured today is sold on to oil companies for Enhanced Oil Recovery undermining the climate benefits of carbon capture
The US has become a swing LNG supplier because offtakers can cancel unwanted cargoes. But is flexibility good or bad news for stalled projects? Check out our video to find out more👇
#gasoutlook
#ONGT
#OOTT
Venture Global’s Calcasieu Pass LNG facility continues to spew air contaminants into the atmosphere as operational problems persist. The company wants to build more LNG terminals nearby.
Read more here ⬇️
New satellites will provide unprecedented transparency on
#methane
emissions starting in 2024.
“The days of self-reporting will be over. Theoretical estimates will be contrasted with the observations,”
@marcelomena
told
@GaripPatricia
in an interview. ⬇️
Global
#GasFlaring
falls to the lowest level since 2010, but more effort is needed to end this practice, says
@worldbankdata
. Flaring worldwide is occurring in a small number of places, with the top 9⃣ countries accounting for 74% of flaring volumes. ⬇️
The U.S. just experienced its warmest winter on record, which has suppressed natural gas demand and left markets badly oversupplied. That glut could persist through 2025 ⬇️
Last week's top 3
#ONGT
tweets were about EU gas demand.👇
According to
@tmarzecmanser
EU gas demand in Sept is about 16% below the 5-yr avg.
But the real test is yet to come, adds
@JHuckstepp
The question is, will Bulgaria become Europe's new gas superpower?
@michaeltanchum
To tackle the energy price crisis, the UK announced a £400 discount on
#energybills
for all consumers and additional support for vulnerable households.
But calls for further action don’t abate while the
#dontpayuk
campaign is gaining momentum⬇️ "
Qatar will supply
#LNG
to Germany under a long-term deal. Someone says this deal will put at risk the decarbonisation goals, while others argue that Germany still needs significantly more LNG to replace the lost Russian gas deliveries.
Read more⬇️
A new report says two large Louisiana LNG export facilities are constantly
#flaring
and under-reporting their emissions. Locals and environmental groups fear the possibility of an explosion, such as the one that occurred at Freeport LNG in Texas last year.
In a letter to the U.S. Department of Energy, dozens of members of Congress criticized the agency’s approval of so many new LNG projects citing negative climate and economic impacts, writes
@nickcunningham1
for
@gasoutlook
Asia set to account for 75% of global
#LNG
market by 2050 with demand reaching 500 mil. tonnes annually.
Demand growth will be led by South Asia & China, although rise in domestic production & Russian pipeline deliveries will level off Chinese demand.
If G7 countries accelerate the
#energytransition
, the total
#energybills
per capita will be on average:
-135$ by 2025
-488$ by 2030
-825$ by 2035
Levels of GDP will be on average:
+1.8% in 2025
+1.3% in 2030
+0.8% in 2035
New study by
@WMBtweets
.
"
On June 22, Multnomah County, Oregon, announced a lawsuit against
@exxonmobil
,
@Shell
,
@Chevron
,
@bp_plc
, and several trade associations and consultants for $52bn in climate damages related to a catastrophic 2021 heat wave & future costs for adaptation.
Despite promises to tackle climate change at COP27, Nigerian Pres. Buhari approved new
#oil
exploration at the Kolmani River. An expert says
#Nigeria
could still keep its promise depending on how the govt will use the resources from these explorations. ⬇️
The U.S. Senate Committee is launching an investigation into 7 insurance companies that are underwriting new
#fossilfuel
projects while scaling back coverage for homes in climate disaster-prone areas.
1/5
After a prolonged reliance on Venezuela for oil supply, Aruba is betting on LNG as a backup strategy for intermittent wind power. However, onshore Venezuelan gas would be cheaper
@anteroccs
explained, especially if the US will ease sanctions on the country
Check out the second part of this latest Long Read by our North America Correspondent
@nickcunningham1
into LNG expansion in the U.S. state of Louisiana, and its impacts on the local community ⬇️
Iran’s natural gas pipelines were attacked last month, disrupting flows to the provinces of Chaharmaha-Bakhtiari and Fars, according to reports in Iranian news media.
A new report tracks the wave of global LNG projects proposed or under construction. But not all will get built, and the financial risks are significant as the energy transition proceeds, writes
@nickcunningham1
Read more here ⬇️
Check out last week’s top
#ONGT
tweets👇
1⃣ The 1st cargo from Mozambique's Coral South LNG project was delivered to Spain,
@StemDan
2⃣ Once a niche market LNG trade passed pipeline gas trade for the 1st time in 2021,
@ira_joseph
3⃣ EU+GB natgas demand destruction,
@tmarzecmanser
The spike in energy prices and the EU's attempt to find alternatives for Russian gas have set off a flood of interest in new LNG supply. But building new LNG terminals it’s a ‘lose-lose proposition”, for the climate and for investors,
@ZorkaMilin
explains
The Danish CO2 tax reform will help to reduce
#CO2
emissions by 4.3 million tonnes by 2030. “It is an important step on the way towards phasing out fossil fuels,” says
@TejsLaJe
, and it will support the expansion of offshore wind and green hydrogen.
An unusual winter storm swept across the U.S. last December. A preliminary report into U.S. power outages found that gas-fired power plants failed at an astonishing rate during the storm. Critics say the incident highlights the unreliability of
#gas
.⬇️
Australia and Norway are joining the Clean Energy Transition Partnership (CETP), but concerns over other signatories’ missing targets remain.
Read more here ⬇️
The EU Commission calls for a tax on excess profits for the oil & gas industry to support households and businesses.
@nickcunningham1
explores with
@CEgenhofer
and
@MarcoGiuli
the arguments for taxing windfall profits and the possible impacts. ⬇️
The French🇫🇷 government has launched an ambitious public consultation to phase out
#fossilfuel
heating in buildings and cut direct
#emissions
from 64 mt C2 in 2022 to 30 Mt co2 in 2030.
At the
#CCP
congress Xi Jinping pledged to end GHG emissions in China, but at a “slow and steady pace”. Will this approach jeopardize the country's 2060 net-zero goals or is it too early to presume China will miss its goals?
@mazzocco_ilaria
@XingZhangCREA
Is the Ukraine war a clean energy turning point?
In its 2023 Energy Outlook
#BP
says that the
#UkraineWar
will have long-lasting effects on the global energy system, and explores 3 scenarios as to what the global energy system might look like in 2050. ⬇️
It's Friday, which means time for this week's top
#ONGT
tweets 🎉 3 out of 5 by
@SergioChapa
Some top stories were:
- El Salvador will begin LNG imports
- 'Reliables' not renewables says TRRC Wayne Christian
- Egypt's water desalination plans
@Samir_Madani
@econ_713
#COP28
president Sultan Al Jaber said Monday that he respects science, following his earlier comments that there was “no science” behind calls for the end of fossil fuels to limit temperature rises to 1.5C
The Groningen
#gas
field may close for good this October due to public pressure and earthquake risks. But, the fragile geopolitical backdrop and severe cuts to Russian gas supply mean that powerful voices also want the field to keep producing ⬇️
In the first of our
@gasoutlook
editorials on our correspondent
@nickcunningham1
writes about how CCS is financially risky and could be devastating for the climate.
Read more here ⬇️
Is Canada🇨🇦 sending out mixed messages regarding its net zero targets? The government is touting an
#emissionscap
, yet the Alberta government has placed a moratorium on renewables projects.
Shell & BP both filed for arbitration against
#LNG
exporter Venture Global for failing to supply contracted cargoes while at the same time it was selling the LNG on the more lucrative spot market.
The disputes follow a number of other similar cases of contractual defaults in
The
#EU
has reached an agreement on binding targets for sustainable
#aviation
fuels as part of its plans to decarbonise the wider economy. However concerns are mounting about fuel availability and potential rising prices for flight tickets.
Read more⬇
This is the second part of the Long Read about the Woodfibre LNG project in Squamish, British Columbia 🇨🇦 which delves into the growing concerns over its viability.
The buildout of
#LNG
infrastructure faces increasing financial risk as global gas demand could peak before 2030 and enter into decline📉. The
@IEA
recently revised down its gas demand forecast by 40% due to the war in Ukraine.
New
#TotalEnergies
outlook unveils the company will remain firmly focused on LNG and oil portfolio expansion as part of its strategy to 2030. Critics say the oil major is prioritising short-term profits over long-term global
#netzero
goals.
#OOTT
#ONGT
A new report is sounding the alarm over rising Southeast Asian LNG development, and confirms other recent studies that it is not the environmentally-friendly green transition fuel once thought just a few years ago
Read more here ⬇️
Utility regulators in the U.S. state of Massachusetts have issued a ground-breaking order that will push the state’s gas utilities away from growing their gas businesses, essentially telling them to prepare and plan for the electrification of buildings ⬇️
The top
#ONGT
tweets are back!
Every Friday check out tweets that got energy tweeters talking most.
This week all eyes were on:
1. 🇷🇺 expects to receive rubles for gas payment (
@JavierBlas
)
2.
@epiastr
expands its coverage (
@hcanercan
)
3. 🇩🇪 emergency gas plan (
@JavierBlas
)
European LNG demand could peak as soon as 2025, and the continent is vastly overbuilding LNG import capacity, according to a new report.
By 2030, European LNG import capacity could be three times larger than expected demand⬇️
The french bank
@BNPParibas
announced that it would no longer directly finance new
#oilandgas
projects in an effort to further align its portfolio with a
#netzero
trajectory. Critics point to loopholes that could allow for ongoing gas financing.
Shell has signed a deal to purchase gas from a large Canadian LNG project proposed in northern British Columbia, adding momentum to a project and a region hoping to export gas to Asia.
Read more here ⬇️
Much like the draft
#COP28
text that omitted to mention a fossil fuel phase-out, Brazil’s vow to be the “1.5 paladin” is an empty promise, writes
@amanda_magnani_
The big push for
#biofuels
in India🇮🇳 may eventually end up as a shortsighted approach to
#energysecurity
, experts say.
The plans will have an adverse impact in the long-term on India’s most critical resource - water.
🌍⚠️ The Global Decarbonization Charter just launched at
#COP28UAE
.
The COP28 President called it a “phenomenal achievement”
But critics say it’s just more empty promises from the oil and gas industry, which conveniently overlooks 80-95% of the industry’s emissions: Scope 3
The debate about renewable gas in Australia is heating up as the country considers the role that
#natgas
will play in the energy transition.
Gas companies and distributors such as AGN and Jemena are doing their parts by investing in ads and advertorials ⬇️
Our correspondent
@nickcunningham1
tells
@amanda_magnani_
all about Woodfibre LNG, one of the "gold-rush" of new LNG terminals being built to replace Russian gas following the Ukraine War
Listen to the
@optoutnews
podcast here ⬇️
Saudi Arabia remains a thorn in the side of
#COP28
. Only one solution remains – that the Gulf petrostate host its own COP, and face up to global scrutiny as the United Arab Emirates has done writes
@sophiedaviesed
@UNFCCC
Nigeria Oil and Gas (NOG) Energy Week in Abuja kicked off Monday, emphasising local solutions for sustainable energy and highlighting opportunities for women in industry, check out our correspondent's report from the event 👇
The raft of new
#LNG
import projects in🇪🇺 as well as the long-term gas deals signed by buyers in recent months are incompatible with decarbonization targets and risk jeopardizing the continent’s energy transition, a report by
@GlobalEnergyMon
warned⬇️
Venezuela is poised to lock in oil and gas supply to Caribbean neighbours in spite of a flare-up in tensions with the United States, which is threatening to restore crippling sanctions on Caracas ⬇️
Biden 🇺🇸 has announced $7 billion in funding to launch the development of seven
#hydrogen
hubs around the country.
If the grants assert US efforts towards the big climate solution, experts remain sceptic on this hydrogen approach to reduce emissions. ⬇️