Amena H. Saiyid

https://lnkd.in/em_Ahvtx The Federal Government has advocated for more investment in Research and Development (R&D) as the surest means of reducing methane emissions in the oil and gas sector. NEITI (Nigeria Extractive Industries Transparency Initiative) ClimateChange Resilience Org NNPC Limited #nigeriansinuk #nigeriansindiaspora #nigeriansincanada #nigeriansinusa

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www.polymerupdate.com *International Energy Agency trims crude oil demand growth forecast for 2024, gap widens with OPEC+ projections* The Paris-based autonomous intergovernmental organisation, the International Energy Agency (IEA), has trimmed its crude oil demand forecast for 2024, widening the difference with the projections made by the producers’ cartel, the Organisation of the Petroleum Exporting Countries (OPEC) and allies (OPEC+). The latest projection may force the OPEC+ members to extend the voluntary output cut beyond June 2024 to achieve supply-demand equilibrium in the market and support the price favourably. Please open link to read full article: https://bit.ly/4arpNZ8 www.polymerupdate.com

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Is LNG worse than coal? Here my FT colleague Alexandra White analyses the peer reviewed academic paper that influenced the Biden administration’s pause on new liquefied natural gas projects and has caused a political firestorm in the US for finding that LNG generates more greenhouse gases than coal. Robert Howarth, a professor at Cornell University and an expert in methane, argues in the study that the emissions footprint of LNG exceeds that of coal by 33 per cent over a 20-year period, challenging the oil and gas industry’s assertion that the fuel is cleaner than coal. “Even though carbon-dioxide emissions are greater from burning coal than from burning natural gas, methane emissions can more than offset this difference,” writes Howarth in the paper, which was published in the journal Energy Science and Engineering. “As a greenhouse gas, methane is more than 80 times more powerful than carbon dioxide when considered over a 20-year period.” Howarth writes that LNG, which is largely produced from shale gas, emits a “substantial amount of methane” that increases during liquefaction and tanker transport of the fuel. “The world is spiralling towards a climate catastrophe,” Howarth told Energy Source in an interview. “Since LNG has a larger climate impact than any other fossil fuel, we should move away from it immediately.” Financial Times

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Long-awaited research from the Science Based Targets initiative has found that using #carboncredits to offset corporate emissions poses "clear risks" to the net-zero transition and its financing. The climate target validation organization said carbon credits are "ineffective in delivering their intended mitigation outcome,” but, in a separate paper, outlined scenarios where environmental attribute certificates could be used help mitigate #scope3 emissions. For ESG Dive:

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A new book urges a bottom-up approach to building a majority that favors climate action and an energy transition. There are aspects of the argument made by the author, David Spence of the University of Texas, that are very much in line with what I've observed from covering climate politics in the Midwest: https://lnkd.in/grQfxj7P

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As large swathes of America sizzle through record temperatures this week, the Energy Institute published its annual statistical review of world energy: it makes for grim reading for people hoping to see rapid progress on the energy transition... Amanda Chu has the story Countries burnt record amounts of oil and coal last year, sending global fossil fuel consumption and emissions to all-time highs, the Energy Institute reported. Oil demand grew 2.6 per cent, surpassing 100mn barrels per day for the first time. Meanwhile, the share of fossil fuels in the energy mix declined slightly by half a percentage point, but still made up more than 81 per cent of consumption.  While EI’s estimates are largely in line with the International Energy Agency’s, its authors offer a more sombre view of the pace of the energy transition compared with the Paris-based watchdog. “Today’s new data provides little encouragement in terms of global climate change mitigation,” said Nick Wayth, chief executive of EI. “Arguably, the transition has not even started.”  Financial Times Energy Institute

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www.polymerupdate.com *Advancements in energy transitions may proportionately reduce global demand for crude oil: IEA* At a time when global crude oil production is set to ramp up, advancements in energy transitions are likely to proportionately reduce global demand for crude oil, finds the International Energy Agency (IEA) in its latest report released today. The expected increase in crude oil production worldwide will ease market strains and push spare capacity towards levels unseen outside of the Covid crisis. Please open link to read full article: https://bit.ly/3VW176Y www.polymerupdate.com

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A handful of oil and gas operators that process, store and transport natural gas in the US Permian Basin may be responsible for the lion’s share of major methane emissions events there, according to an analysis of satellite data by BloombergNEF. Assets operated by West Texas Gas, Enterprise Products, Energy Transfer and Targa Resources, or their subsidiaries, were likely responsible for the majority of methane releases with estimated emissions rates of 100 kilograms an hour or more — so-called super-emitters — observed in the nine months through February of this year. The analysis from my colleague Maria-Olivia T. is one of the first to attribute hundreds of individual methane observations from satellites to individual assets and operators and shows that a small group of companies and assets appear to be responsible for significant and mostly avoidable methane emissions. The study relied on data from the United Nations' International Methane Emissions Observatory - IMEO, which analyzes observations from multiple satellite systems and notifies governments and operators in an effort to halt leaks. Read more in my latest for Bloomberg Green through the gift link below: https://lnkd.in/gA-_GdxH #permian #energy #gas #methane #superemitters #ghgs #Earthobservation

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My new blog for Carbon Tracker looks at how the #SupremeCourt decision to strike down #Chevron Deference will impact efforts to fight #climatechange. https://lnkd.in/eq5JT_Pa

Roughly half a century ago geologists exploring for hydrocarbons accidentally shattered the roof of a huge underground gas deposit opening a crater 60-meters (197-feet) wide. Rather than let the potent #methane fumes leak uncontrollably, engineers eventually lit the gas on fire, presumably on the theory it would quickly burn off. It didn’t and the site is believed to have burned continuously ever since. The Darvaza Crater, nicknamed the Gates of Hell, for years was promoted as a tourist attraction in the central Asia country of #Turkmenistan and has even been recognized by Guinness World Records as the “longest burning methane crater.” But global concern over the climate impact of methane and carbon dioxide emissions has intensified and in 2022 then-President Gurbanguly Berdymukhamedov announced a plan to close the site. In an effort to halt the release, the government proposed drilling a well to extract gas from the reservoir feeding the crater so the fuel could be transported to market, where it’s likely to be burned more efficiently to produce power or heat. Satellite data now shows that plan could be working. The amount of gas burned at the site has fallen roughly 50% since August, according to an analysis by Mark Jonathan Davis, chief executive officer of Capterio, which uses satellites to track flaring globally and works with oil and gas producers and governments to cut emissions by optimizing operations. Davis estimates one million standard cubic feet a day of gas is currently being combusted at the site. While much of the gas emitted from the Darvaza Crater is combusted into CO2, it likely still emits some methane. Turkmenistan sits atop of the world’s fourth-largest natural gas reserves and International Energy Agency (IEA) data shows the nation spews more methane per unit of oil and gas output than any other major supplier. Any progress towards curbing the potent greenhouse gas that leaks from the sparsely populated nation’s oil and gas infrastructure would be a significant climate victory. Read more in my latest for Bloomberg Green through the gift link: https://lnkd.in/gSVPMecN

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How can utilities address energy affordability through the ratemaking process? We summarize different approaches in our latest Center on Global Energy Policy factsheet. 🌐 🔌 💵 Traditionally, efforts to mitigate energy insecurity have focused on downstream solutions like bill assistance and weatherization. However, upstream innovations in utility ratemaking hold significant potential to address the structural causes of energy affordability. Innovative ratemaking approaches, such as segmented rate classes, low-income discount programs, and budgeting strategies, offer promising pathways to reduce energy burdens on disadvantaged households. These approaches, when implemented thoughtfully, can help balance the needs of utility shareholders with the social goal of energy affordability. What other mechanisms are available? Please share in the comments below! Abby Austin, Qëndresa Krasniqi, Diana Hernández, Emma Shumway, Michael Gerrard, Sabin Center for Climate Change Law, Beth Colleton, Robert Johnston #EnergyInsecurity #EnergyJustice #Utilities #Ratemaking

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The SBTi just published an evidence review that pretty comprehensively trashes carbon credits: "[V]arious types of carbon credits are ineffective in delivering their intended mitigation outcomes." "There could be clear risks to corporate use of carbon credits for the purposes of offsetting. This includes potential unintended effects of hindering the net-zero transformation and/or reducing climate finance." "All Tier A evidence challenge the legitimacy of offsetting claims, arguing that treating carbon credits as fungible with other sources, sinks, or reductions of emissions is inadvisable, illogical, or damaging to global mitigation goals." https://lnkd.in/eJfTuPyD

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PREFERRED ROUTES 👉🪨♻️👷🏻‍♂️👷‍♀️: In a newly-launched report, the Morecambe Net Zero (MNZ)/Peak Cluster partnership has set out the opportunity to accelerate new routes to market for commercially mature carbon capture and storage (CCS) projects. They add that their initiative will unlock private investment and ensure the UK can hit its net-zero targets. MNZ/Peak Cluster says its partnership will decarbonise 40% of the UK’s cement and lime industry and ensure that close to four million tonnes of CO₂ emissions from vital industry within Peak Cluster will be captured and then permanently stored in Spirit Energy’s MNZ carbon store each year, from 2030. The partners add that the project is set to generate the equivalent of £1.8bn GVA (gross added value) by 2050, creating and safeguarding more than 13,000 jobs across Derbyshire, Staffordshire and Cumbria, and attracting a further £5bn of investment in construction and operations. It will also see a combined annual increase of £154m in skills uplift and wage increases. #carboncapture #decarbonisation #cement #uk Neil McCulloch John Egan CUNNINGHAM Alex Mineral Products Association GCCA – Global Cement and Concrete Association

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Participants in the carbon markets expressed optimism as they expected demand and sentiment to improve following parties to the Conference of Parties approving the two standards-- for carbon removals and project methodologies-- developed by Supervisory Body. Even though the body is likely to come up with methodologies for Article 6.4 markets as early as mid 2025, there could be possible delays. Read the full story here: https://lnkd.in/g9Mz-7yi Eklavya Gupte Aliana Zulaika Y. Mimansa V. Energy Transition by S&P Global Commodity Insights

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The Environmental Protection Agency announced a final rule today in which the organization seeks to further limit “the emission of non-mercury HAP metals from existing coal-fired power plants. EPA is also tightening the emission standard for mercury for existing lignite-fired power plants to a level that is aligned with the mercury standard that other coal-fired power plants have been achieving under the current MATS." https://lnkd.in/ertm9gUk

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