The Iran war and the chaos it has inflicted on global energy stability, supply and pricing are a stark reminder of Europe’s risky gas reliance, analysts have warned.
Shell CEO Wael Sawan said that abundance of gas will instead likely create new pockets of demand in price sensitive markets.
The Commission designated a staggering number of hydrogen pipelines and electrolyzers to its list of Projects of Common Interest. Critics warn the gamble could prolong fossil gas use and sidetrack Europe’s energy transition.
The presence of hedge funds in gas markets has increased, leading to questions over their impact on gas prices, Gastech attendees heard.
Gas
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With gas demand in Europe in long-term decline, the EU has access to sufficient supplies in both the short and long-term. That means that contracts for additional LNG are not needed, and only increase stranded asset risk.
Businesses could cut industrial natural gas consumption by more than 50 percent with investments of €9.5 billion, a new paper estimates.
A new report finds that EU levies on imported methane could help clean up gas operations, but may also lead to a two-tiered global LNG market.
Energy Transition
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The UK is set to exceed its GHG emissions target for the period 2033-2037 by 37%, a conference in London heard Tuesday.
Climate
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A group of 27 investors, including Europe’s largest asset manager, have filed a shareholder resolution that calls on Shell to align its operations with the Paris Climate agreement.