Tag: energy management

Global LNG trade increased to 360 million tonnes in 2020 despite the unprecedented volatility caused by the COVID-19 pandemic, says oil major Shell in its latest annual LNG Outlook published Thursday. The report also predicts that global LNG demand is expected to reach 700 million tonnes by 2040.

In its January Short-Term Energy Outlook (STEO), US EIA expects the price of Brent crude oil to increase from its December 2020 average of $50 per barrel to an average of $56/b in the first quarter of 2021. The Brent price is then expected to average between $51/b and $54/b on a quarterly basis through 2022.

In order to align with the EU Green Deal objectives, the forthcoming review of the Trans European Network for Energy (TEN-E) Guidelines must recognize the central role of ports in Europe’s new energy systems, ESPO said. 

Transforming the power sector alone will only get the world one-third of the way to net-zero emissions, a new IEA report says, highlighting the need for greater efforts in other key sectors, such as transport, buildings and industry.

The behavioural and economic ramifications of COVID19 will permanently reduce global energy demand, according to DNV GL's newly published Energy Transition Outlook. Among others, the report talks about clean energy technologies, the role of financial institutions in financing the green transition and the long-term impact of COVID-19. 

In fact, according to a recent statement, Leask Marine Ltd. has been presented as a key strategic associate for the Magallanes Renovables’ “OCEAN_2G” project. Namely, the OCEAN_2G (Second Generation technologies in ocean energy) innovation project aims to test; validate and pre-certify an innovative full-size tidal energy harnessing system solution ready to enter into European and global markets, further boosting the growth performance of industrial partners of the consortium and being a worldwide referent in the manufacturing of floating platforms for producing electrical energy from tidal currents.

In fact, Rystad Energy, the energy research and business intelligence company providing data, tools, analytics and consultancy services to the energy industry, reports that energy projects that need oil prices above $60 per barrel in order to break even risk being uncommercial going forward.

UNCTAD launched its 2019 Trade and Development report, focusing on the global financial crisis in relation with the battle against climate change, arguing that the struggle to create jobs is real, the environmental breakdown being a serious threat, adding that these challenges have resulted to new targets and goals to ensure a sustainable and safe future.

By mid-century, the energy mix will be split almost equally between fossil and non-fossil sources, with oil declining steeply after 2030, but gas continuing to grow before leveling off at 29% of the energy mix by 2050, says DNV GL in its latest Energy Transition Outlook. 

In the most recent Energy Transition Outlook, DNV GL presents its timeline of the next 30 years of the energy transition, which shows many astonishing milestones. Namely, the one of the key takeaways of the timeline is the peak of energy supply and demand, but there are other significant milestones as well. According to the timeline oil will peak at 2022, while 4 years later transport energy demand will peak.