The announcement by Saudi Arabia of the creation of a new oil cartel Russia – OPEC+ confirms the intentions of both parties to control the world oil price over the long-term period of time. At the same time, referring to the political weight and military power of the Russian Federation in the world, Riyadh demonstrates readiness to concede a leading position in the new organization to Russia.
Avoiding the impending crisis in the gas distribution industry is possible by establishing on behalf of Ukrainian regulator an objective tariff for gas distribution or a gradual planned reduction of gas distribution networks.
On September 24th, 2018, in New York, on the sidelines of the UN General Assembly session, EU Foreign Minister Federica Mogherini announced the European Commission’s decision to create a “special financial instrument” to support trade operations with Iran. Introduction of the “special financial instrument” for Iran by the European Union could lead to an aggravation of the geopolitical confrontation between Washington and Brussels.
Poland is striving to strengthen its role within the framework of the European energy project «Northern Gas Corridor» (which foresees strengthening cooperation in the energy industry between the states of the Carpathian and Baltic regions). This is evidenced by the results of the conferences of the «Baltic Gas Pipeline» project.
Regulations of greenhouse gases emissions is expected to come into force from 2027 at the global level. It is expected that the price of an emission permit per ton of CO2 from 2025 to 2030 will fluctuate from 30 to 120 USD (dependent on market conditions). The price of this financial instrument can be set higher than oil futures of different types. Introduction of the tool on reporting on CO2 emissions will cover different spheres of economy – agriculture, energy, extractive industries, chemical industry, steel industry, trade, etc.
Reforms in the energy sector are one of the most complex and long-term which is common for most of the EU member states, as opposed to post-Soviet states, where the energy sector is the source of wealth and political tool to retain power and convert it into financial and property dividends. Nowadays within Europe Ukraine belongs to states with the most attractive preconditions for funding of solar power plants and wind farms, objects of bioenergy and corresponding production lines.
The second package of the US sanctions on Iran for breach of the “Nuclear agreement” (Joint Comprehensive Plan of Action as of July 14th, 2015) enters into force on November 5th, 2018. There is a concern of German business and the federal government and the supreme bodies of the EU, namely the European commission and The European external action service are pushed in every means to negotiate with the US in order to find and introduce exceptions.
The world community attempts to build green economy which finds the solution to both environmental and fuel problems, promotes solutions to numerous social problems, improves quality and management efficiency and allows long-term economic growth sustainable to financial risks within the following 20-30 years.
Power to Gas appears to be the all-in-one solution addressing the crucial problems of the European Energy system. Surplus power from wind and photovoltaic can be transformed by electrolysis intro hydrogen and then methane, which can be fed into the gas grid and into existing gas storages.