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[misca2] 16/2/2021 17:33

$100 Oil: Big Banks Believe A New Oil Supercycle Is Beginning
By Julianne Geiger - Feb 16, 2021, 11:00 AM CST
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Some of the world’s biggest names in oil trading and analyzing can’t seem to get on the same page when it comes to predicting what will happen next for the volatile commodity.

Some, like Jeffrey Currie of Goldman Sachs and Christyan Malek of JPMorgan, according to the Financial Times, are confident that oil is ready for the next supercycle—a prolonged rise in the price of oil.

And when they refer to this rise, they’re talking $80, or even $100 per barrel.

Others, like oil analyst Arjun Murti who correctly predicted the last $100+ per barrel achievement seen between 2008 and 2014, say that talk of this next supercycle may be a bit hasty.

For Malek, he sees a situation where demand outstrips supply, before “we don’t need it in the years to come.”

The reason for supercycle predictions is simple: stimulus packages, most notably the stimulus package that the U.S. government is expected to roll out, are expected to boost consumption.

And according to Currie, this stimulus will create a “significant, commodity-intensive consumption” as the stimulus package is mostly targeting lower and middle-income households.

“These people don’t drive Teslas,” Currie explained. “They drive SUVs”.

Murti, on the other hand, thinks that if oil demand were to increase by a half a million barrels per day over the next year, it wouldn’t be enough to outstrip supply.

As a point of reference, global oil demand sank roughly 10 million barrels per day as a result of the pandemic in 2020.

If, however, oil demand were to pick up steam by as much as 1.4 million barrels per day, a supercycle may follow.

Veteran trader Pierre Andurand told the Financial Times that the fate of oil prices rests on OPEC—specifically on how much oil they supply.

Standing in the way of the next supercycle, says Andurand, could be Iran returning to the global oil markets, and OPEC’s production in general.

Retired veteran trader—a particularly successful one that made a not-so-small fortune on oil’s last supercycle—Andy Hall, sees the oil market in “terminal decline” the Financial Times writes, and likened any price rally as a dead cat bounce.

By Julianne Geiger for Oilprice.com

[la forge] 15/2/2021 10:26

www.powerengineeringint.com/renewables/biomass/engie-produces-renewable-gas-from-solid-non-recyclable-waste/



ENGIE produces renewable gas from solid non-recyclable waste
February 15, 2021

French multinational energy firm ENGIE has managed to produce renewable gas in a world-first using solid non-recyclable waste.

The milestone was reached at the utility’s GAYA semi-industrial Research & Development facility in Saint-Fons (Rhône), France.

Since its launch in 2010, the project has been supported by the French agency for ecological transition ADEME. As part of the project, some 11 organisations collaborated on research & development of new technologies.

Between 2012 and 2017, the project focused on the design, construction and commissioning of the GAYA platform. In 2018, the project saw the first injection of biomass into the gasifier and production of purified synthesis gas.



In 2019, the first production of biomethane from forest biomass was completed.

The project is among the very first gasification and methanation demonstrators in France and in Europe.

Non-hazardous waste from economic activities is prepared, thus becoming solid recovered fuel according to the standards in force. This is then gasified at a very high temperature to produce synthesis gas with high calorific value. The synthesis gas, resulting from this first conversion, is then purified to transform it into biomethane using a catalytic methanation process.

The waste is mostly made up of waste wood, paper, cardboard and plastic.

The GAYA platform is in line with the targets set by the French law on Energy Transition for Green Growth, which aims for a 50% reduction in the quantity of waste going to landfill by 2025 compared with 2010 and a 30% reduction in fossil fuel consumption in 2030 compared with 2012, with a view to preserving the environment and strengthening France’s energy independence.

The platform contributes directly to ENGIE Group’s purpose, “to act to accelerate the transition towards a carbon-neutral economy, through reduced energy consumption and more environmentally friendly solutions”.

The construction of the first industrial unit in Le Havre could begin in 2023. As of 2026, the unit will recycle 70,000 tonnes of non-recyclable waste per year to be used to produce up to 150GWh of renewable gas, equivalent to the consumption of 670 urban buses.

In addition, the multi-energy process will allow the production of 45GWh of renewable heat to meet urban and industrial needs.



Adeline Duterque, director of ENGIE Lab Crigen, said: “With GAYA, we have made major scientific advances in the development and industrialisation of renewable gas production sectors. The platform model contributes to the energy transition with the production of renewable gas and to the circular economy by making use of waste that until now was destined for landfill. The tests carried out using SRF show that we now know how to produce renewable gas from this type of waste.”

[gibbs1] 14/2/2021 16:27

14 Feb, 13:24
Nord Stream 2 gas pipeline will be built despite US attempts to delay construction - Novak
According to Russian Deputy Prime Minister, the project is "absolutely in line with the law and meets all the requirements of European legislation"
Russian Deputy Prime Minister Alexander Novak Anton Novoderzhkin/TASS
Russian Deputy Prime Minister Alexander Novak
© Anton Novoderzhkin/TASS

MOSCOW, February 14. /TASS/. The Nord Stream 2 gas pipeline will be built despite Washington’s destructive steps aimed at hindering this effort, Russian Deputy Prime Minister Alexander Novak said in an interview broadcast by Rossiya-1 TV channel on Sunday.

"European countries and European companies are interested in it. We are sure that it will be built despite those destructive approaches, which we have seen on the part of the US that certainly, in its turn, has been delaying the implementation of this project," Novak said.

"This project is fully in accordance with European legislation. Here there is rivalry fueled by American partners, who want to supply their liquefied natural gas to Europe, and basically, these are non-market methods of competition. And speaking about legislation and the legal issue, this project is absolutely in line with the law and meets all the requirements of European legislation. That’s why the countries taking part in it are absolutely interested in fulfilling this project," Novak said.

The Nord Stream 2 pipeline will not stand idle after its construction is completed, as European partners are interested in pumping gas through it, Novak added.

"I don't think there are such risks, because, again, our European partners are interested in it," he said, answering a question whether there was any chance that Russia would not be able to use the gas pipeline due to the pressure on the project.

According to Novak, Nord Stream 2 is 95% complete to date and is absolutely in compliance with European legislation.

The Nord Stream 2 project contemplates construction of two gas pipeline strings with the total capacity of 55 bln cubic meters per year from the Russian coast to Germany across the Baltic Sea. The construction was suspended in December 2019 after Allseas, a Swiss company laying the pipes for the Nord Stream 2 pipeline, suspended pipe-laying work over possible US sanctions and recalled its ships. Nord Stream 2 AG resumed pipe-laying work in December 2020, with 2.6 kilometers of the pipeline being laid in Germany’s exclusive economic zone. By now, more than 2,300 out of 2,460 kilometers of pipes, or 94% of the pipeline’s overall length, have been laid, with 120 kilometers are yet to be laid in Danish waters and more than 28 kilometers - in German waters.

[waldron] 12/2/2021 09:01

Russia says it’s ready to end ties with the European Union

Published Fri, Feb 12 20213:36 AM ESTUpdated Fri, Feb 12 20213:38 AM EST

Silvia Amaro
@Silvia_Amaro

Key Points

“We don’t want to isolate ourselves from global life, but we have to be ready for that. If you want peace then prepare for war,” Lavrov added.

The relationship between Russia and the EU hit a new low last week when the EU’s foreign policy chief, Josep Borrell, visited his counterpart in Moscow.

Analysts have told CNBC that the latest differences between Moscow and Russia could put pressure on the gas pipeline being built from Russia to Germany, Nord Stream 2.

[ariane] 11/2/2021 09:39

Global Oil Market's Cautious Rebalancing Is Underway, IEA Says
11 February 2021 - 09:29AM
Dow Jones News

--The IEA has increased its non-OPEC 2021 supply forecast

--The oil market is set for "rapid stock draw" in the second half of the year, the IEA says

--The agency says North American production is rebounding



By David Hodari



The global supply and demand of crude oil are on course to continue rebalancing this year, after the turmoil brought by the pandemic in 2020, the International Energy Agency said Thursday.

Despite increasing its estimates for the world's oil output in 2021, the IEA said in its closely-watched monthly market report that a recovery in demand will outstrip rising production in the second half of the year to prompt "a rapid stock draw" of the glut of crude built up since the outbreak of the coronavirus.

The agency significantly increased its forecast for producing nations outside of the production pact between the Organization of the Petroleum Exporting Countries and allies such as Russia, upping non-OPEC supply by 290,000 barrels a day to an increase of 830,000 barrels a day this year.

At the same time, the IEA trimmed its forecast for global oil demand by 200,000 barrels a day to 96.4 million barrels--around 3% less than in 2019, before the coronavirus pandemic--although added that part of that change came thanks to a change to historic data.

Even so, with much of the developed world grappling with fresh Covid-19 variants and renewed lockdown restrictions, a brightening economic outlook and strict supply discipline from OPEC-plus are hastening the drawdown in global oil inventories, the IEA said. It added that "the prospect of tighter markets ahead" has been responsible for a sharp rally in oil prices in recent weeks.

Crude prices slipped early Thursday, giving up a fraction of their recent gains. Brent crude, the global benchmark, was last down 0.6% at $61.13 a barrel after climbing for nine straight sessions to notch gains of 11% so far in February and break through the $60-a-barrel level for the first time in a year. West Texas Intermediate futures, the U.S. benchmark, fell 0.6% to $58.31 a barrel.

The beginning of February saw Saudi Arabia--one of the world's largest producers--unilaterally cut an additional 1 million barrels of crude a day in a move that surprised the world when it was announced the month prior.

Along with resilient demand in developing-world powerhouses, such as China and India, as well as hopes of a large U.S. stimulus bill and ecstatic trading in broader financial markets, Riyadh's move has helped fuel a recovery in oil prices.

The so-far successful efforts of OPEC-plus to hold back supply, the hoped success of coronavirus vaccination programs, and the prospect of weaker travel restrictions remain the basis for cautious forecasts of an oil-market recovery, the IEA said.

In that context, the production of non-OPEC producers will be in focus in the coming months. Those countries, particularly the U.S. and Canada, are responding to those higher prices, "albeit cautiously and from a low level," the IEA said.

Drilling and well completion-rates in the Permian Basin have steadily risen in recent months and, while U.S. oil companies are under pressure to reward shareholders and retain financial discipline, current oil prices mean "there is clearly potential for some producers to respect those engagements and modestly increase their capital expenditures," the report added.

Canada, meanwhile, is now pumping at record rates, having restored nearly all the production shut during the nadir of the collapse of the global oil market in April.

If balances continue to tighten and non-OPEC producers ramp up production, that could fray the cohesion of OPEC-plus cuts, the IEA said. That might have consequences for the oil-price rally.



Write to David Hodari at [e-mail]



(END) Dow Jones Newswires

February 11, 2021 04:14 ET (09:14 GMT)

[ariane] 07/2/2021 09:08

Engie-led team signs Saudi water agreement

04 February 2021 By Jennifer Aguinaldo MEED

The $850m project in Yanbu includes a desalination plant, water transmission pipeline, water storage and solar farm

[waldron] 06/2/2021 08:33

OIL& GAS INDUSTRY
5 Feb, 22:43
German ex-chancellor sees ‘too much ideology’ around Nord Stream 2
Additional gas delivery route is necessary for Germany due to its plans to phase out nuclear and coal-based power generation, he said

BERLIN, February 5. /TASS/. Gerhard Schroder, who served as the chancellor of Germany in 1998-2005, believes that his country needs the Nord Stream 2 pipeline from Russia, because otherwise it won’t be able to meet its energy demand during the period of transition from traditional energy sources to renewable ones.

"We already have Nord Stream 1, which transports 55 billion cubic meters of gas from Russia to [the northern German state of] Mecklenburg-Vorpommern. And we need the second line," he told the Phoenix TV channel, adding that this additional gas delivery route is necessary for Germany due to its plans to phase out nuclear and coal-based power generation.

"It is clear that we should place our bet on renewable sources. However, there won’t be enough of them in the foreseeable future to provide our economy with energy at an affordable price," he said. "During the period of transition, lasting 10, 20 or 30 years - no one can say for sure - we will be in need of gas, the only reasonable and environmentally pure traditional source of energy."

"And we need to ask ourselves: where are we going to take it?" the ex-chancellor continued.


In his opinion, Russian gas delivered via pipelines is the only reasonable way to get it. According to the former German leader, US gas produced by means of hydraulic fracturing is "more expensive and worse in terms of quality," as well as less environmentally friendly.

"It seems to me, that there is too much ideology here," he said, adding that the Nord Stream 2 pipeline project should not be linked to the situation surrounding blogger Alexei Navalny. "Why a connection is drawn between issues that are not related to each other? What can be in common between Nord Stream 2 and the Navalny case?" he asked rhetorically, describing this approach as a mistake.

The Nord Stream 2 project contemplates construction of two gas pipeline strings with the total capacity of 55 bln cubic meters per year from the Russian coast to Germany across the Baltic Sea. The gas pipeline is 94% complete to date. After the incident with Russian blogger Navalny, a number of German politicians demanded to halt implementation of the project.

[ariane] 03/2/2021 23:08

Cheap-rate power deal in France can be more expensive
Off-peak night-time electricity might not be the 'good buy' it seems, says consumer group 60 Millions de Consommateurs

3 February 2021
EDF and Engie clients need to use at least half of their power on the cheaper night rate for it to cost less than a basic single-rate option

By Connexion journalist

Off-peak night-time electricity might not be the “good buy” it seems – a consumer group found the vast majority of users are losing money with an heures pleines/heures creuses (HP/HC) contract.

EDF and Engie clients need to use at least half of their power on the cheaper night rate for it to cost less than a basic single-rate option.

Increased home-working has highlighted the issue, with more homes heated during the day.

[adrian j boris] 01/2/2021 20:41

UAWIRE.ORG


France urges Germany to stop construction of Nord Stream 2 pipeline
Monday, February 1, 2021 12:07:00 PM

Germany should stop construction of the Nord Stream-2 gas pipeline amid violent crackdown on protesters in Russia, announced French Minister of State for European Affairs Clément Beaune on the radio station France Inter, Deutsche Welle reports.

"We have always said that we have huge doubts about this project in this context," he said.

When asked if this meant a call for Berlin to abandon the Nord Stream 2 pipeline, Beaune said: "This is correct, we have already talked about it."

He also noted that EU leaders are now considering the possibility of imposing new sanctions against Russia amid violent suppression of protests that are taking place in support of the opposition leader Alexei Navalny.

"Sanctions have already been imposed, we can do it (again), but we have to be clear that it will not be enough," Beaune added.

According to him, another option, which is being considered, is Nord Stream-2. At the same time, the minister added that this should be a decision of Germany, as the gas pipeline is laid on its territory.

German Chancellor Angela Merkel said she had not changed her position on Nord Stream 2 and would speak with the US president's administration.

US President Joe Biden called Nord Stream 2 a "bad deal for Europe."

[adrian j boris] 28/1/2021 14:37

Engie to install EV charge points at Premier Inn hotels

28/01/2021 in Electric fleet news
electric fleet - charging and infrastructure


Engie has secured a new contract to deliver 1,000 electric vehicle charging points across Premier Inn hotels in the next three years.

It’s the biggest roll-out of high power EV chargers in the UK hospitality sector, according to the charging point provider.

Engie will install GeniePoint charging points at 300 Premier Inn hotels over the next three years. The first installation will be in Enfield, when the roll-out begins in March.

Access to the charging points will be for hotel guests, as well as members of the public using the GeniePoint Network. The company will install 50kW+ chargers that use 100% renewable energy.

Simon Leigh, procurement director at Premier Inn, said: “Electric vehicles are one of the ways in which the UK strives for a greener future and we’re pleased to help drive this goal forward with what we believe is the UK’s biggest roll-out of rapid charging points to date.

“We know that ‘range anxiety’ is a real concern for many of our guests who own electric cars. Knowing that in many locations they will soon be able to arrive and have access to a high-speed charge point to quickly refuel their car while they relax and refuel themselves will be a great source of comfort.”

Sam Hockman, divisional CEO – Futures at Engie UK & Ireland, added: “This important move by Whitbread highlights the key role the hospitality sector can play to support not only the uptake of EVs, but also the UK's wider commitment to become net zero by 2050."

Fleet News

[florenceorbis] 25/1/2021 09:50

Nord Stream 2 says Russian pipe-laying vessel starts work in Danish zone
Jan. 24, 2021 11:55 PM ETPublic Joint Stock Company Gazprom (OGZPY)By: Carl Surran, SA News Editor

Russian pipe-laying vessel Fortuna has started working at the Nord Stream 2 construction site in Danish waters, defying new sanctions

[florenceorbis] 24/1/2021 10:13

23 Jan, 22:33
Nord Stream 2 project stoppage may result in legal proceedings - German Minister
According to the Minister of Environment Protection and Nuclear Safety Svenja Schulze, Germany will need natural gas during the transitional period after the abandonment of coal-fired and nuclear power generation

BERLIN, January 24. /TASS/. The Nord Stream 2 gas pipeline project is close to completion and all the permits for its implementation were issued in line with principles of the rule of law, Germany’s Minister of Environment Protection and Nuclear Safety Svenja Schulze says in an interview with the Redaktionsnetzwerk Deutschland (RND).

"The decision on the pipeline construction was made many years ago. It is close to completion and received permits in accordance with principles of the rule of law," the Minister said. "If we stop the project now, we will inflict a great deal of harm, casting a doubt on reliability of decisions made on the basis of principles of the rule of law and would probably face court proceedings," Schulze noted.

Germany will need natural gas during the transitional period after the abandonment of coal-fired and nuclear power generation until it will be fully able to ensure energy supplies on account of renewable sources, the Minister said. "Germany barely has its own natural gas reserves, so we depend on import in this regard," she noted.

The Nord Stream 2 project contemplates the construction of two pipeline strings with a total capacity of 55 bln cubic meters per year from the coast of Russia through the Baltic Sea to Germany. To date, 94% of Nord Stream 2 has been finished.

[florenceorbis] 23/1/2021 10:37

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