It’s all about gas in today’s edition, with forecasts from Goldman Sachs about EU’s dependency to Russian gas and the Russian government thinking about breaking up Gazprom’s monopoly on exports by allowing other producers to export, too. And it is also about carbon, as the new EPA rules come under scrutiny in Congress.
Quote of the day
“Beyond the summer, we continue to expect European gas to return to a 2013-like dynamic, requiring relatively high imports from Russia and Norway to compensate for 11 billion cubic meters a year of production cuts from the Dutch Groningen gas field.”
London-based Goldman Sachs’s analyst Daniel Quigley, in the Bloomberg Businessweek’s story Goldman Sees EU Using More Gas for Power as Short-Lived
Goldman Sees EU Using More Gas for Power as Short-Lived
Isis Almeida, Bloomberg Businessweek
Europe’s return to favoring natural gas for power generation for the first time in almost three years will be short-lived as Russian and Norwegian gas imports will be needed for winter, according to Goldman Sachs Group Inc.
Putin suggests ending Gazprom pipeline monopoly
Courtney Weaver, Financial Times
President Vladimir Putin has ordered the Russian government to consider breaking Gazprom’s monopoly on pipeline gas exports by allowing other producers to export from new fields in eastern Siberia and the far east.
An Austrian Company in Gazprom’s Grip
Stanley Reed, The New York Times
With tensions escalating between Russia and the West, and Moscow facing the possibility of tougher economic sanctions, few European executives may feel caught in the middle more than Gerhard Roiss.
European wind industry slashes growth forecasts
Jessica Shankleman, BusinessGreen
The European wind industry has lowered its forecasts for the amount of new wind energy capacity that the EU is expected to install through to 2020, blaming the financial crisis and policy uncertainty for a reduction in its expectations for the sector.
***LB: Also in this story “EWEA’s new central scenario expects 192GW of wind capacity to be installed by the end of the decade, capable of meeting 14.9 per cent of electricity consumption.”
EPA chief in hot seat as lawmakers dissect carbon rule
Valerie Volcovici, Reuters
U.S. Environmental Protection Agency Administrator Gina McCarthy will field questions from lawmakers on Wednesday about the agency’s plan to slash carbon pollution from power plants, even as industry groups seek to derail the proposal.
The Surprising Reasons Why Lowering CO2 Emissions Will Drive Our Electricity Bills Down, Not Up
Michael Krancer, Forbes
If the customer wants clean energy, he’ll have to pay for it, right? Wrong. There’s actually no premium attached to low-carbon power, state utility regulators heard last week at their annual conference in Dallas.
EMA’s 18th Annual Meeting
Join the Environmental Markets Association and environmental industry professional for two days of dynamic sessions, two nights of networking receptions, and countless opportunities to increase your business contacts.
October 22 – 24, 2014
Santa Monica, CA
FT European Gas Summit
The FT European Gas Summit brings together leading and aspiring gas suppliers from around the globe, as well as energy industry experts, commentators and government decision makers to review the potential barriers to new gas supplies for Europe, and the impact on the region’s economic competitiveness. The summit will be chaired by Guy Chazan, Energy Editor, Financial Times.
23 October 2014
Industry gangs up on EPA climate rule
Laura Barron-Lopez and Timothy Cama, The Hill
Climate War Episode I: On Tuesday, leading industry groups laid out their grievances in a united front against the Environmental Protection Agency’s (EPA) signature climate rule.
United Airlines’ Cargo Customers Can Now Offset Entire Carbon Footprint
United Airlines today announced the launch of CarbonChoice(SM), a new business tool for corporate cargo customers to easily track and offset the emissions associated with their air freight accounts.
Government trims Green Deal home improvement incentives as scheme passes £50m milestone
James Murray, BusinessGreen
The government has this week revealed its recently launched Green Deal Home Improvement Fund (GDHIF) has delivered encouraging early progress, prompting ministers to announce cuts to the incentives on offer in a bid to ensure as many households as possible can take advantage of the scheme.
Natural gas / coal
Japanese trading houses look to sell Australia coal assets
Jamie Smyth, Financial Times
Two Japanese trading houses are trying to sell their stakes in a big Australian coal project, in a further sign of a sector-wide shake-up being driven by low commodity prices, high costs and a strong Australian dollar.
Japan’s Itochu, Sumitomo put Australia coal stake up for sale
Japan’s Itochu Corp and Sumitomo Corp want to sell their stakes in two Australian coal mines and a coal terminal they co-own with Glencore PLC, two people familiar with the matter said on Wednesday.
Beijing shuts big coal-fired power plant to ease smog
Beijing has closed the first of four large coal-fired power plants set to be decommissioned as part of the city’s efforts to cut air pollution, official news agency Xinhua reported on Wednesday, citing the local planning agency.
Power play: Hong Kong may buy more Chinese electricity in challenge to tycoon-backed utilities
Charlie Zhu, Reuters
Hong Kong is pushing to boost electricity imports from mainland China to reduce pollution and the dominance of two local utilities backed by powerful families, say industry experts who have been involved in consultations with the government.
JA Solar to Complete Half of Planned Solar Farms in August
JA Solar Holdings Co., the world’s third-biggest solar-panel maker, expects to complete construction of a 100-megawatt solar farm in China’s Gansu province in the northwest and connect it to grids in August.
European Investment Bank backs UK smart meter rollout as part of £190m deal
James Murray, BusinessGreen
The European Investment Bank (EIB) has today announced that it has agreed to lend £190m to communications infrastructure specialist Arqiva as part of a deal to support its deployment of smart meter technologies across the north of England and Scotland.
Energy efficiency financing models for buildings could work for natural gas vehicles
Nick Nigro, C2ES (Center forClimate and Energy Solutions)
Owners of large buildings who want to save money by improving energy efficiency first have to overcome a huge hurdle – the upfront costs of getting the work done.
Kelp wanted: Pioneering the seaweed farm of the future
Sandrine Ceurstemont, New Scientist
Late last spring, in a sleepy coastal town in Northern Ireland, a fishing boat returned to shore overflowing with seaweed.
Climate change hits all Pentagon operations, official says
Laura Barron-Lopez, The Hill
All Pentagon operations in the U.S. and abroad are threatened by climate change, according to a Defense Department official.
Green group targets Gardner on oil and gas contributions
Laura Barron-Lopez, The Hill
The Environmental Defense Fund is hitting Republican Senate candidate Rep. Cory Gardner (Colo.) for donations from the oil and gas industry.