Biden's DoE LNG Export Study Tepid on New Permits
The administration of U.S. President Joe Biden released a long-awaited study on the economic and environmental impacts of liquefied natural gas exports on Tuesday, saying the results underscored the need for a cautious approach to new permits.Biden in January had paused the Department of Energy's approvals of U.S. LNG exports to big consumers in Asia and Europe so that his administration could conduct the review, triggering complaints from the oil and gas industry."The main takeaway is that a business-as-usual approach is neither sustainable nor advisable," Energy Secretary Jennifer Granholm told reporters ahead of the release of the study.
Eoltech Wins Repeat Contracts
Wind energy consulting firm Eoltech announced that it won contracts from major French customers to deploy IREC-Index. With this advanced multi-source wind energy index, Eoltech will aim to refine the monitoring of 24 wind farms in France, representing a total output of 500MW. IREC-Index will enable Eoltech’s clients to check the consistency of their fleet’s output against the available wind resource to detect potential turbine performance discrepancies. The specificity of IREC-Index is to be based on the selection and combination of several data sources that are both independent and coherent with one another.
GTT Debuts LNG Advisor
GTT, the world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas), announces the launch of a new offer with LNG Advisor. Designed for LNGCs, it is a new boil-off gas (BOG) monitoring system during LNG sea transport. LNG Advisor will provide on-board crews and onshore teams with real time reliable data on the energy performance of the ship. The system automatically monitors the engine and the gas combustion unit consumptions of boil-off gas, marine diesel oil and heavy fuel oil as well as the natural and forced BOG during navigation.
Petrobras’ Refineries Integrate Energy Saving
Over the years, Petrobras has taken measures in its refineries to improve their energy efficiency. In the last five years, despite the growing complexity of its refineries to meet new fuel quality specifications, these initiatives have resulted in an energy saving representing approximately 2.5 million barrels of oil equivalent per year, or 15,000 terajoules per year – equivalent to enough electricity to supply a Brazilian city of 630,000 inhabitants for one year. This result represents a reduction in the energy intensity of Petrobras’ refining operations of approximately 5.2%, leading to an estimated decline in carbon dioxide emissions of around 3,000 metric tons per day.
Oil Outshines Other Commodities at Major Banks
Active trading on oil markets was a bright spot in otherwise lacklustre commodities revenue growth at the top investment banks in the nine months to October, a consultancy said. Revenue from commodities for the leading 10 banks rose 8 percent to $4.3 billion, sharply down from the 21 percent gain in the first half, London-based financial industry analytics firm Coalition said in a report on Friday. Coalition, which did not break out third quarter revenue, said turnover was affected by the continued withdrawal of some banks from the commodities sector, while the metals business continued to be hit by regulatory pressures and a slowdown in top consumer China.
$310 Billion 'Energy Efficiency' Market Grows Rapidly
IEA report sees energy efficiency finance becoming established market segment in its own right ... The global energy efficiency market is worth at least $310 billion a year and growing, according to a new report from the International Energy Agency that confirms the position of energy efficiency as the world’s “first fuel”. The report also finds that energy efficiency finance is becoming an established market segment, with innovative new products and standards helping to overcome risks and bringing stability and confidence to the market. “Energy efficiency is the invisible powerhouse in IEA countries and beyond…
Austria, Poland face Fines Over Energy Law
Austria and Poland face fines for failing to implement EU law on making buildings more energy-efficient, the EU executive said on Thursday. The European Commission is asking the Court of Justice of the European Union (ECJ) in Luxembourg to apply a penalty of 96,720 euros ($131,900) against Poland and 39,593 euros against Austria for every day they do not comply with EU law. The European Union aims to cut Europe's annual primary energy consumption by 20 percent by 2020. Buildings account for about 40 percent of that consumption and more than a third of EU carbon-dioxide emissions, it says.
