The Oil and Gas Authority in the United Kingdom has welcomed a High Court ruling which dismissed environmentalists’ challenge of the regulators’ strategy.
Industry
Hydrogen Economy Hints at New Global Power Dynamics
IRENA says green hydrogen could disrupt global trade and bilateral energy relations, reshaping the positioning of states with new hydrogen exporters and users emerging.
Natural gas shortage drove steep increase in carbon prices in 2021
During 2021, emissions trading schemes (ETS) around the world saw record-high carbon prices, with the highest seen in the EU and UK.
However, data and analytics company GlobalData said that prices worldwide were still inadequate to reduce emissions in line with the Paris Agreement. The company highlights that only 22% of greenhouse gases are explicitly priced and less than 4% are priced at $40/ton — the minimum price considered necessary to meet Paris Agreement targets.
Miles Weinstein, Energy Transition Analyst at GlobalData, said: “Increasing carbon costs is a key strategy towards eliminating coal-fired power production.
ExxonMobil tops list of top 10 most mentioned oil and gas companies in 2021
The Oil and gas industry is recovering gradually from the impact of the COVID-19 pandemic, which disrupted the supply chain and cratered demand, according to GlobalData.
WEB and Eagle LNG Enter into Landmark LNG Supply Agreement
Eagle LNG Partners, a US company based in Houston, Texas and Jacksonville, Florida, has completed a long-term supply contract to establish a liquefied natural gas receiving and regasification terminal in Aruba with WEB Aruba, the local power and water utility.
With new projects scarce, gas famine looms
The biggest announcement of the fourth quarter was the go-ahead for Woodside’s Scarborough LNG project. However, Scarborough and Barossa are the only two new LNG projects Australia has going while the North West Shelf is already starting to decline.
A ‘Big Step Forward’ for CCS
The voice of Australia’s oil and gas industry said the announcement by Minister for Resources and Water, Keith Pitt, of five new areas in Commonwealth waters marked out for exploring greenhouse gas storage opportunities was another significant step forward to reducing emissions through carbon capture and storage (CCS).
NGIP rolls out framework for 20-year gas supply
The Australian Federal Government’s National Gas Infrastructure Plan (NGIP) and Future Gas Infrastructure Investment Framework has paved a path for secure gas supplies for the next 20 years.
‘Rising transport costs fuelling cost of living pressures’
Australia’s peak motoring body has released its latest Transport Affordability Index showing weekly costs have for the first time risen above $400 for the average Australian metropolitan household.
Higher investment needed for Eagle Ford to spur production
Crude oil and natural gas production in the Eagle Ford shale play, situated in southeast Texas, dropped by almost 35% and 20%, respectively, in May 2020 due to the COVID-19 pandemic, according to GlobalData.