Bloomberg New Energy Finance says U.S. and Canadian companies likely to beat European rivals in carbon capture and storage. Climate Spectator steps up with an analysis piece comparing China’s three main carbon markets. The IEA sets out shale gas ‘golden rules’ for cleaner fracking, covered by Business Green.

Quote of the Day:

“It has been clear for years that if the world’s industrial and power generation sectors are not to see a large part of their asset base rendered obsolete, they need carbon capture and storage to work. But not one large-scale, end-to-end project has yet been built, and the technologies still have to prove their cost-effectiveness.”

-Bloomberg New Energy Finance Chief Executive Officer Michael Liebreich in a statement.

Lead Stories

American Companies Beating Europe to First Commercial CCS Plant
Companies in the U.S. and Canada are likely to beat European rivals in building the first large-scale project trapping carbon dioxide to sequester underground, Bloomberg New Energy Finance said. 

North America leading the race for CCS commercialisation
Business Green
A Yorkshire carbon capture and storage (CCS) project has been named among the world’s top 10 most advanced large-scale projects in a new ranking compiled by analysts Bloomberg New Energy Finance (BNEF).

Inspecting China’s carbon trading plans
Climate Spectator
China’s three main carbon markets – the Beijing Environment Exchange, Shanghai Environment Energy Exchange and Tianjin Climate Exchange – were all formed within two months of each other, towards the end of 2008. At that point, the European Union’s emissions trading system was still struggling to recover from a crash a year previously, which had seen the price of carbon allowance plummet from 30 euro to just a few cents.

Barclays slashes H2 2012 carbon price outlook
Barclays analysts on Monday cut their second-half 2012 price outlook for European Union carbon by 28 percent, citing a growing supply glut and prospects of further deterioration in the EU economy.
**RKB — Analysts forecast EU Allowances to average 6.5 euros ($8.13) a tonne in the second half of this year, down from a previous estimate of 9 euros a tonne.

EU must take ‘decisive action’ to shore up carbon price
Business Green
Energy companies and traders have once again called on the EU to take “decisive action” to support the plunging carbon price.

EU Carbon May Become More Volatile in June: New Energy
European Union carbon permits may become more volatile next month because of the prospect of intervention in the market following a review by regulators, according to Bloomberg New Energy Finance.

COLUMN-Green energy can survive support cuts: Gerard Wynn
Infrastructure investment plus new emerging markets in Brazil and Mexico could counterbalance falling renewable energy support in indebted Europe, which until now has accounted for the majority of green subsidies.

World to gain from gas glut if regulation right: IEA
A boom in unconventional natural gas over the next 20 years could see the United States and others benefit from cheaper energy while the importance of the Middle East declines, the International Energy Agency (IEA) said on Tuesday.

IEA sets out shale gas ‘golden rules’ for cleaner fracking
Business Green
Green groups have slammed a new report by the International Energy Association (IEA), which set out a set of “golden rules” that could help the world’s fledgling shale gas industry triple the supply of unconventional natural gases to 1.6 trillion cubic metres per year by 2035.

THE REPORT: Golden Rules for a Golden Age of Gas

Chinese Solar Shipments May Drop 75% on U.S. Tariffs
Chinese solar panel shipments to North America may be cut by 75 percent this year because of an anti-dumping ruling by the U.S. Commerce Department, according to IHS Inc. (IHS).

Green Climate Fund will struggle without private sector input
Environmental Finance
The absence of private sector participation on the board that will oversee the Green Climate Fund (GCF) will challenge its ability to reach its monetary target, experts said.


Obama’s Pick for Nuclear Safety Cop Seen Shunning Confrontation
Allison Macfarlane, the geologist and expert on atomic waste picked to lead the U.S. Nuclear Regulatory Commission, is described by associates as someone who can advocate positions without offending her opponents. 

White House disputes Solyndra-Bain Capital comparison
The Hill’s E2 Wire
The White House aimed Tuesday to squash comparisons between Mitt Romney’s tenure at Bain Capital and the administration’s financial support for green energy companies that have struggled, including the bankrupt solar firm Solyndra. 

Obama campaign strikes back at Romney on green energy
The Hill’s E2 Wire
President Obama’s reelection campaign is returning fire after Mitt Romney’s new Web ad bashed White House support for green energy companies.


Canada must act fast or miss LNG window-Shell CEO
Canada only has until the end of this decade to build up its liquefied natural gas industry or face being overtaken by other countries looking to cash in on booming demand for the fuel throughout Asia, Royal Dutch Shell Plc’s chief executive said on Tuesday.

Western premiers find common ground on energy, resources issues
Globe and Mail
Canada’s western premiers are rallying behind a call for a Canadian energy strategy and the push by territories for resource rights, saying energy issues will continue to drive economic growth in the West and North.

Western premiers back Redford’s proposed Canadian energy strategy
Calgary Herald
Premier Alison Redford won a quick consensus from western provincial and territorial leaders supporting her proposal for a Canadian energy strategy. 

Shell to Expand Athabasca Oil-Sands Output
Wall Street Journal
Royal Dutch Shell RDSA +0.24% PLC will expand its Athabasca oil-sands project by a third by the end of the decade and Canada will make up a larger share of Shell’s energy production over that period, Chief Executive Peter Voser said Tuesday.


Polish green utility PEP up for sale-sources
Polish wind and biomass energy producer PEP has been put up for sale, three sources close to the talks told Reuters, with foreign rivals and local utilities PGE and Enea likely to be interested in the $140 million company.

UK bets on biomass in move away from coal
Britain is placing Europe’s biggest bet on biomass as an alternative to polluting oil and coal and expensive gas, but reliance on imports could challenge the plan’s low-carbon credentials and Britain’s energy security.

UK powered up 7bn sterling of green energy investments in 2011
Business Green
In the last financial year, renewable energy companies unveiled plans to invest nearly 7bn sterling across the UK, potentially creating more than 20,000 jobs, according to new government figures.

Commerzbank Sees Renewable Energy Financing Threat, Welt Reports
Jan-Philipp Gillmann, the Commerzbank AG (CBK) manager in charge of renewable energy financing, said higher interest rates may threaten projects in Germany and endanger the country’s plan to exit nuclear power. He spoke in an interview with Die Welt.

Dogan Agrees to Buy 2 Wind Power Plants for 240 Million Euros
Dogan Sirketler Grubu Holding AS (DOHOL), a Turkish group with interests in media and energy, agreed to buy two wind-power plants from the Agaoglu group for 240 million euros ($301 million).

Infinia to Supply 25.5-Megawatt Solar Thermal Project in Cyprus
Infinia Corp., a developer of power systems that convert solar heat to electricity, said it won a contract to supply equipment to a 114 million-euro ($143 million) project in Cyprus.


India’s GVK wins state nod for $9.9 bln Australia coal project
India’s GVK Power & Infrastructure won environmental approval from Queensland state for its A$10 billion ($9.9 billion) Alpha coal project, clearing a key hurdle toward developing one of Australia’s biggest coal mines.

Former Japanese PM calls for end to nuclear power
The Age
In an unusually stark warning, Japan’s prime minister during last year’s nuclear crisis has told a parliamentary inquiry the country should discard nuclear power as too dangerous, saying the Fukushima accident had pushed Japan to the brink of ”national collapse.”

Airline blames carbon tax for axing of routes
The Age
A REGIONAL airline operating out of Canberra has cited the carbon tax as a ”major factor” in its decision to axe two of its regular routes in favour of the more lucrative charter business catering to the resources boom.

Africa/Middle East

Chevron May Use Solar in Oilfield Shared by Kuwait, Saudi
Chevron Corp. (CVX) is considering using solar energy to produce the steam needed to pump heavy crude from an oilfield straddling Saudi Arabia and Kuwait.

Latin America

Vale sells Colombia coal mines to GS-led group
Brazilian miner Vale (VALE5.SA)(VALE.N) said on Monday it agreed to sell its thermal coal assets in Colombia for $407 million to a unit of Colombian Natural Resources, a mining company controlled by U.S. investment bank Goldman Sachs (GS.N).

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