Year: 2020

The state of Texas and its taxpayers could be on the hook for paying up to US$117 billion for the cleaning-up of abandoned wells as a growing number of U.S. oil companies go bust, and the guarantees for paying for the cleanup cover only 1 percent of estimated costs, a report by climate finance think-tank Carbon Tracker showed on Thursday. U.S. oil and gas producing states and taxpayers may have to pay in total as much as US$280 billion in cleanup costs, with Texas leading with US$117 billion, followed by…

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Denmark cleared on Thursday the final hurdle to Nord Stream 2 potentially starting operations in Danish waters, while the U.S. continues its attempt to stop the Russia-led natural gas pipeline project. On Thursday, the Danish Energy Agency said it had granted Nord Stream 2 AG, the company behind the project, an operations permit for the Nord Stream 2 pipelines on the Danish continental shelf, on a number of conditions. “Commissioning can only take place when at least one of the pipelines has been tested, verified and when relevant conditions in…

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Net-zero goals cannot be met by rising renewable energy usage and wider adoption of electrification in transport alone. The world will need to reduce the emissions from existing energy systems and from heavy industries such as cement, steel, or chemicals production if it hopes to meet the ambitious climate goals and stick to the target in the Paris Agreement to limit global temperature rise well below 2 degrees Celsius. The decarbonization of the energy infrastructure, the reduction of greenhouse gas (GHG) emissions in heavy industries, and the production of low-carbon…

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ISLAMABAD: The federal government is likely to take a decision on the sale price of natural gas in a meeting of the Economic Coordination Committee (ECC), which is scheduled to meet (today) Wednesday. While talking to Business Recorder, Special Assistant to the Prime Minister (SAPM) on Petroleum Nadeem Babar said the ECC would examine the recommendations of the Oil and Gas Regulatory Authority (Ogra) related to the sale price of natural gas to both the gas companies, the Sui Northern Gas Company Limited (SNGPL) and the Sui Southern Gas Company…

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n the aftermath of New York Climate Week and the many new commitments announced to address both climate mitigation and adaptation, it is important to focus on the challenge of accelerating the clean energy transition in the Asia-Pacific region. Although global energy-related emissions flattened in 2019 to an estimated 34.2 gigatons (GT), and the COVID-19 pandemic has led to an estimated 7.7 percent decrease in emissions over the first six months of 2020, Asia-Pacific emissions increased by 2.4 percent in 2019 compared to 2018 and accounted for 50.5 percent of…

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