Beatrice Bedeschi

Just weeks before the start of COP28, the UK government approved the Offshore Petroleum Licensing bill, which envisages annual oil and gas licensing rounds.

The fossil fuel industry should commit at COP28 to reduce operational emissions by 60% to 2030, the IEA’s chief executive Fatih Birol said.

An ExxonMobil executive told a London conference that gas is still needed, in spite of growing calls to shift away from fossil fuels towards renewable energy.

Asia is set to account for over 75% of the global LNG market by 2050, with LNG demand reaching over 500 million tonnes per year by that date, delegates heard.

The LNG industry’s outlook is looking increasingly optimistic amid expected demand growth particularly in Asian countries, delegates heard.

The $500 million MidOcean deal marks Saudi Aramco’s first international investment in LNG.

With its Hail and Ghasha mega-project, Abu Dhabi National Oil Company says it will use carbon capture and storage to operate with net zero emissions.

There are calls to abandon energy industry carbon offsets in favour of more effective and permanent carbon reducing interventions.

The Groningen gas field was closed on the back of rising concerns related to earthquakes linked to production activity.