In this Issue:

FROM THE EDITOR: THIS ENERGY TRANSITION? IT’S AN OIL THING

The global gas industry has claimed the high ground in the elegy transition, with a focus on its contributions to a cleaner energy system over the last two major global gas gatherings. Now it’s oil’s turn, and at the 24th World Petroleum Congress in Calgary this month, the sector championed its decarbonisation aspirations.

EUROPE “READY AS IT CAN BE” FOR UPCOMING WINTER: INTERVIEW

Didier Holleaux, the International Gas Union’s Regional Coordinator for Europe, believes the continent is in good shape to get through winter with sufficient gas supply, but cold weather and disruptions in Russian pipeline and LNG supply still pose a risk.

EUROPE WITHOUT BUFFERS

Europe will remain greatly exposed to global LNG market volatility, energy experts Thierry Bros and Anne-Sophie Corbeau warned in NGW’s latest In a Nutshell podcast, as it has mostly lost its previous “buffers” against supply shocks.

GOOD TIMES IN THE EAST MED

Energean has developed with acquisition-fuelled growth to become the East Mediterranean “premier” gas producer. The company speaks with NGW about the journey so far and the plans ahead.

EASTMED LEADERS REAFFIRM ENERGY TIES AS DECISION TIME NEARS

The leaders of Cyprus, Israel and Greece held their ninth summit meeting in Nicosia on 4 September at a time when projects to export the region’s natural gas appear to be shaping up after years of little progress.

EXPANDED BRICS: IMPLICATIONS FOR GLOBAL ENERGY TRADING

The influence of BRICS will depend on its effectiveness, not on its composition or size … the group could be more effective … if key members were truly serious about pursuing shared goals, Lord Jim O’Neill, UK economist, says. This will be the key test for BRICS+.

CHINA PUSHES FASTER ON DE-DOLLARISATION

China’s push for a different world order that diminishes the US has extended to using its own currency instead of the dollar to pay for oil and gas imports, but the so-called “de-dollarisation” of some chinese trade will not weaken the global importance of the greenback anytime soon.

US SHALE OIL, GAS PRODUCTION POISED FOR DECLINE

Because renewable energy sources such as wind and solar still face major intermittency… natural gas, which generates much less emissions than coal, will have a role to play. At least in the short to medium term, natural gas can help reduce US carbon emissions by substituting coal in power generation.

FROM THE EDITOR: STRIKE ACTION DOWN UNDER AND LNG MARKET STABILITY

As the LNG market grows, there will always be some kind of supply problem somewhere, yet deliveries continue to expand year on year.

DISPUTES INTENSIFY OVER CALCASIEU PASS COMMISSIONING

Another offtaker has reportedly launched arbitration proceedings against venture global LNG as the commissioning of its Calcasieu Pass export terminal drags on.

VIETNAM’S NEW POWER PLAN PROVIDES (SOME) CLARITY FOR LNG

Vietnam has presented a text book energy transition plan with gas, primarily LNG, playing a key role in delivering early emissions reductions and eliminating coal use. The questions now are how much of the anticipated lng demand will actually be realised and when?

COUNTRY FOCUS: KUWAIT – ONWARDS AND UPWARDS FOR LNG

With a deal signed with Shell for LNG supply over 12 years, Morocco has formally entered the LNG market. Its renewable energy plans are moving slowly, suggesting gas will play a key role in the country’s plans to phase coal out of its carbon-heavy generation mix.

LNG DEMAND FROM SHIPPING FACES UNCERTAIN FUTURE

The fleet of LNG-capable and LNG-ready vessels continues to grow, but fuel costs are not supportive of LNG consumption. As the regulatory net tightens, elusive returns for the first movers into lng will not embolden other ship owners to take the plunge.

FROM THE EDITOR: LOST IN TRANSITION

Russia might have championed the development of low-carbon technologies such as hydrogen and carbon capture and storage. Following its invasion of Ukraine, its export-orientated energy transition strategy looks set to flounder.

REPLACING NATURAL GAS WILL BE HARD

The bottom line is that natural gas is hard to replace and will have a key role to play in global energy consumption all the way to 2050 and likely beyond.

GERMANY TAKES MORE PRAGMATIC APPROACH TO HYDROGEN IMPORTS

The german government’s new hydrogen strategy recognises that green hydrogen cannot meet demand alone, and blue hydrogen is a vital piece of the puzzle.