Category: Highlights

U.S. liquefied natural gas (LNG) exports will rise to a fresh record high in 2021 before easing in 2022 for the first time in years, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO) on Tuesday. The agency forecast U.S. LNG exports would rise to 9.38 billion cubic feet per day (bcfd) in 2021 from a record 6.53 bcfd in 2020, before sliding to 9.22 bcfd in 2022. If correct, 2022 would be the first decline in U.S. LNG exports since 2013 when the only export…

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Oman LNG and Royal Dutch Shell have signed an agreement to deliver the Sultanate’s first carbon-neutral liquefied natural gas (LNG) cargo, the companies said on Tuesday. “The cargo is the first carbon-neutral LNG from the Middle East using nature-based carbon credits to offset full lifecycle CO2 emissions generated across the LNG value chain,” Oman LNG said on Twitter.

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7 May, the Asian Development Bank (ADB) issued a revamped energy policy for consultation – the policy’s first overhaul since 2009. A decade is a long time in the energy world. Between 2010 and 2019, large-scale solar power generation costs dropped 80% (to US$0.068/kWh) and onshore wind dropped 60% (to $0.053/kWh). Both now undercut the levelised (lifetime) costs of new coal and gas. The 2015 Paris Agreement has led many of ADB’s member countries to adopt carbon targets – and some, like China, net-zero targets. The International Energy Agency (IEA),…

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President Joe Biden’s infrastructure plan proposes to spend US$16 billion plugging old oil and gas wells and cleaning up abandoned mines. But there’s no authoritative measure of how many of these sites exist across the nation. In a recent study, my colleagues and I sought to account for every oil and gas well site in the lower 48 states that was eligible for restoration – meaning that the well no longer was producing oil or gas, and there were no other active wells using that site. We found more than…

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The Organization of Petroleum Exporting Countries and their allies in OPEC+ are on a collision course with energy watchdog International Energy Agency (IEA) on at least two counts. Last month, the Paris-based IEA delivered the starkest warning yet on fossil fuels, saying the exploitation and development of new oil and gas fields must stop this year if the world remains serious about reaching net-zero emissions by the middle of the century. IEA is an arm of the Organization for Economic Co-operation and Development (OECD). The IEA call to stop investing…

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