China Eases Australian Coal Ban
The increasing need to secure energy supplies after easing COVID-19 restrictions has pushed China to gradually resume Australian coal imports and urge domestic miners to boost their already record output.The lifting of the unofficial ban on Australian coal imports, which were halted in 2020 in a fit of Chinese pique over questions on COVID's origins, is the clearest sign yet of the renewed ties between them. The resumption is also a reminder of their economic interdependence as Australia's raw materials play a crucial role in fuelling the export-oriented economy of China…
Shell to Pull the Plug on Gazprom Equity Partnerships
In the latest corporate backlash to Russia's invasion of Ukraine, the Board of Shell plc said it intends to exit its joint ventures with Gazprom and related entities, including its 27.5 percent stake in the Sakhalin-II liquefied natural gas facility, its 50 percent stake in the Salym Petroleum Development and the Gydan energy venture. Shell also intends to end its involvement in the Nord Stream 2 pipeline project.“We are shocked by the loss of life in Ukraine, which we deplore…
Germany Working with U.S. on Nord Stream 2 Pipeline Deal
Germany said on Sunday it was continuing to work closely with the United States on implementing a deal on the Nord Stream 2 pipeline, which runs under the Baltic Sea and carries gas from Russia to Germany.Germany's foreign ministry said it continued to coordinate closely with the U.S. administration on implementing a joint declaration on the $11 billion pipeline.The Biden administration has waived sanctions on the pipeline operator and made a deal with Germany in July, although…
Russian Tanker Back in Region After Shipping U.S. LNG to Europe
A Russian gas tanker that is used to secure energy supplies in the west Russian enclave of Kaliningrad has arrived back in the region after being leased out to transport U.S.-produced LNG to Europe, Refinitiv Eikon data showed on Tuesday.Two energy sources told Reuters in November that energy trader Gunvor had leased the Marshal Vasilevskiy tanker from Russian state-controlled gas company Gazprom for loading an LNG cargo in the United States.That surprised the LNG shipping market because U.S. seaborne LNG is seen as a threat to Gazprom's dominance of Europe's gas market and Russian President Vladimir Putin has accused the United States…
China Navy Ship Makes Maiden Visit to Venezuela
A Chinese naval ship has traveled to Venezuela for the first time, following a visit by President Nicolas Maduro to Beijing this month, where he had been looking to gain China's support for the Latin American nation's struggling economy.The naval medical ship, known as the "Peace Ark", arrived on Saturday at the Venezuelan port of La Guaira for an eight-day period of "friendly visits" to the country, the official Xinhua news agency said on Sunday.Maduro, whose leftist government is under fire in Venezuela as the economy struggles with a fifth year of recession and hyperinflation…
Largest Underwater CO2 Release from Pipeline - DNV GL
Carbon capture, utilisation and storage (CCUS) is gaining momentum to meet stringent climate change goals and secure energy supplies for the future. To fully understand the environmental and safety implications associated with the development of CO2 pipelines, DNV GL is conducting the oil and gas industry’s largest ever controlled release of carbon dioxide from an underwater pipeline at its full-scale Spadeadam Testing and Research Centre, located in Cumbria, UK. The planned underwater release, scheduled to start in January, is part of an international Joint Industry Project (JIP) ‘Sub-C-O2’ to develop safety guidelines on the use of offshore CO2 pipelines.
Polish PM Calls For EU Energy Union To End Dependence On Russian Gas
The European Union must create an energy union to secure its gas supply because the current dependence on Russian energy makes Europe weak, Poland's Prime Minister Donald Tusk wrote in an article in the Financial Times. Russia, which provides around one third of the EU's oil and gas, sent shockwaves through the international community with its military intervention and annexation of Ukraine's Crimea peninsula in March. The action prompted the United States and its European allies to begin imposing sanctions on President Vladimir Putin's inner circle and to threaten to penalise key sectors of Russia's economy if Russia escalates tensions with Ukraine.
A More Powerful Chinese Navy?
According to a report in the Taipei Times, Chinese President Hu Jintao urged the building of a powerful navy that is prepared "at any time" for military struggle, state media reported yesterday. At a meeting of delegates to a Chinese Communist Party navy forum on Wednesday, Hu reportedly said China was a major maritime country whose naval capability must be improved. "We should strive to build a powerful navy that adapts to the needs of our military's historical mission in this new century and at this new stage," he said in comments splashed on the front pages of the party mouthpiece People's Daily and the People's Liberation Army Daily. "We should make sound preparations for military struggles and ensure that the forces can effectively carry out missions at any time," said Hu.
