Category: Highlights

On October 19, Romania’s Romgaz and Azerbaijan’s Socar inked a memorandum of understanding expressing an intention to “explore the opportunity of jointly developing a liquefied natural gas project [LNG] in the Black Sea” (Romgaz.ro, October 19). Both parties committed to preparing a comprehensive feasibility study; however, this concept is not new, as the Black Sea LNG Project (as coined by Romgaz) has been discussed for over a decade already. According to the official Romgaz press release, the Black Sea LNG Project will consist of “an LNG liquefaction plant, a regasification plant,…

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Germany is putting in place emergency measures in case of blackouts this winter, Reuters has reported, citing several unnamed sources familiar with the preparations. One of the measures involves the central bank of Germany hoarding billions of euros in case of a run on banks. The possibility of putting limits on bank withdrawals is also among the options. Priority access to fuel is also being discussed some of the Reuters sources told the news agency.Government officials have said the risk of a blackout this winter is small but the head…

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Life has taken an incredible turn for 24-year-old Qais Qadeer when he, as a scholarship student a few years ago, joined China Three Gorges Corporation, a Chinese company constructing a hydropower plant on Pakistan’s river Jehlum. Now working as an operation engineer at the Karot hydropower project in the country’s eastern Punjab province, Qadeer told Xinhua that he is living a successful and fulfilling life that a person like him could never dream of. The project is one of the China-aided power projects being built in the country under the…

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Pakistan has become the canary in the mine of climate change in 2022. The flood that destroyed a third of the country this year came from the sky, not overflowing rivers. An area larger than many European countries has been turned into a flooded lake, many meters deep. The disaster was an undeniable consequence of global warming. “Pakistan has flooded before, but never on this scale,” one observer wrote, “and never in so many ways at once: cloud bursts and glacial outbursts in the north, long spells of rain in…

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A week ago, the Energy Information Administration (EIA) released its latest Short Term Energy Outlook (STEO) wherein it revised its 2022 and 2023 oil production outlook. The EIA revised 2022 U.S. crude oil supply higher by 80 thousand barrels per day (kb/d) to 11.828 million barrels per day (mb/d) and crude oil supply growth for 2022 higher by 80kb/d to 574kb/d. The energy watchdog, however, revised its 2023 production outlook lower by 21kb/d to 12.31mb/d and 2023 growth lower by 121kb/d to 487kb/d. This in effect means that next year’s…

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