Over the past 50 years, global volumes of LNG production have increased 21 times – from 189 billion cubic meters of LNG per year in the period from 1967 to 1990 – up to 676 billion cubic meters of LNG annually by the end of 2018. At present, the share of LNG in the total annual gas consumption in the world (3.67 trillion cubic meters) is 18%.
Jonathan Stern, head of gas programs at the Oxford Energy Research Institute, believes that by the end of 2025 global volumes of liquefied natural gas (LNG) will increase by 418 billion cubic meters of gas per year (up to 1 trillion 94 billion cubic meters of gas). The growth of LNG production will mainly result from the launch of new LNG projects in the US, the potential capacity of which is estimated at 265 billion cubic meters of gas.
On March 8, 2019 in Brussels, the European Commission Spokesperson for climate action and energy, Anna-Kaisa Itkonen, made a statement on the results of the implementation of the Joint U.S.-EU Statement on strategic cooperation with respect to energy, signed on July 25, 2018 by the President of the European Commission J.Juncker and US President D.Trump. Since the signing of the statement, the export of US liquefied natural gas to the EU has grown by 181%. From the beginning of this year, liquefied gas from the United States amounted to 12.6% of the total LNG import into the EU.
On February 1st, 2019, in Moscow, O. Fridman, the first deputy chairman of the board of one of Russia’s largest gas companies, PJSC “NOVATEK”, announced the signing of an agreement between PJSC “NOVATEK” and the German technological conglomerate Siemens AG for the supply of nine new gas “Siemens” compressors for the new “Arctic LNG 2” project in Russia, with a capacity of 19.8 million tons of LNG per year.
The European Gas Conference on Promoting a Dialogue between the EU and its leading Gas Suppliers, organized by the Austrian Oil and Gas Company “OMV”, was held in Vienna, Austria on January 28-30, 2019. The event was attended by representatives of the European Commission, experts from more than 200 world energy companies and government representatives of gas producing countries.
Gas production in the area of the largest Dutch marine gas field “Groningen” may be reduced to 4 billion cubic meters of gas per year as early as 2020, and by the end of 2030, gas production in the “Groningen” area will be fully suspended. Starting from 2030, like most developed EU countries, the Netherlands will turn from a leading gas exporter to gas importer and the government of the country is working on a policy to further ensure the country’s energy balance.
Razvan Nicolescu, an expert at the Bucharestoffice of Deloitte, an international consulting agency, believes that the new legislative norm for progressive taxation of gas companies will allow the government to receive additional revenues to the state budget in the amount of almost 26 billion USD by 2040. At the same time, the GDP of Romania, […]
According to the analysis of research conducted by the International Renewable Energy Agency, IRENA, regarding the impact of new generation of renewable energy technologies (on the base of Renewable Energy Sources, RES) on global geopolitics, as well as on selected regions and countries, we have identified the main trends of this process in the medium and long term.
On November 26th, 2018, the Ministry of Energy of Poland presented the Polish Energy Policy until 2040 which identifies nuclear energy as one of the development priorities in connection with the requirement to abandon the use of coal and to reduce greenhouse gas emissions imposed by the EU within the framework of the EU-wide policy to combat climate change.
The document foresees decline in the share of coal-fired power generation in Poland by 50% in 2030 and by 22% in 2040 (coal-fired power generation currently stands at 80-84%).
On December 20th, 2018 the summit of the Mediterranean countries of Israel, Greece and Cyprus was held in Beersheba (Israel). The main theme of the deliberations among the heads of the three states was the development of energy cooperation between the countries and the demonstration of support to Cyprus in its right to develop hydrocarbon production in its Exclusive Economic Zone.