politicodiary

Frequent drillings have triggered earthquakes in the Groningen field area of Netherlands making lives of those staying around difficult and natural gas extraction impossible Europe wants to use its largest gas field to dodge the menace with Russia over supplies, but the bad news is that it can’t. Its hands are currently tied as it finds it tough to explore its big landmass that has enough untapped capacity to replenish the natural gas it is currently running short of. The sad news is that its largest gas reserves that are situated in Netherlands are under threat from tremors and therefore might need to be shut down. In question here are the sprawling  Groningen field , beneath the windmill-dotted marshlands of the Netherlands. They are considered Europe’s largest natural gas reserve. It holds enough fuel to replace what Germany once imported from Russia. Surprisingly, frequent drillings have triggered earthquakes in the area making lives of those staying around ...

 In a recent incident, Belarus made and statement for an “unscheduled repair” on a branch of the “Friendship pipeline” carrying oil supplies from Russia through their country to a number of EU states, stating that the repairs will take three days. Transneft, the Russian energy giant has said that this is a short-term disruption and the repair work should be completed by weekend. Though the monthly supply volumes should not be affected by this halt in supply. The pipeline connects oil fields in Central Russia to consumers in Poland, Hungary, Czechia and Germany. This situation has caused a record-high increase in natural gas prices in Europe. Various factors are aggravating the current situation in Europe, including the unusual cold winter, which demands people to heat their homes for longer than usual. Also, the need for natural gas is higher due to decisions regarding phasing out of coal and a bad year for wind production. The political situation in Europe is also not conduc...

It is strange but true that amidst the growing scare and unrest over the coronavirus , the Middle East oil and gas market is reportedly growing twice as fast as the global energy demand. This has been confirmed by the Boston Consulting Group ’s report (BCG) and International Gas Union (IGU). Both have suggested that the Middle East and Asia-Pacific have demonstrated the strongest growth in gas demand in the past ten years – growing at an average of 4.6% per year, double the rate of global primary energy demand. Due to limitations of regional infrastructure, many Middle Eastern countries are apt to use foreign supply chain for lucrative gains from the large gas reserves that they have.  So connecting gas reserves with the end-use markets at a low cost is a more hopeful picture to engage in infrastructure investment, and policy support. The report has estimated that by 2030, the Middle East would be capable of delivering approximately 8,500 billion cubic meters (bcm) ...