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Friday, November 23, 2007

EU vs. Gazprom round N, China's new renewable toys and the latest on CO2 storage

Once upon the time, I talked about the battle of EU with Russia/Gazprom. Back then, it was something that looked funny to me, because, of course, nobody called it like this. But now, it seems like I was right. Check out this:

EU-Russia gas battles 'only beginning', says report

With Gazprom actively seeking stakes in the European and particularly the German energy market, a new report warns about a 'clash of agendas' between the EU and Russia that will increasingly undermine the security of Europe's energy supply.

"While the EU is challenged by issues related to gas supply, Russia is fighting the challenges related to access to the market. This clash of agendas is threatening Europe's security of supply", says the European Energy Markets Observatory 2007, published by the consultancy Capgemini.

The report points to increased efforts by Gazprom, Russia's state-owned energy giant, to gain "control of the whole value chain" of the EU's energy supply, citing a number of new gas infrastructure projects and important pipeline ventures agreed jointly with Germany's E.ON and Italy's ENI. Alexander Medvedev, Deputy Chairman of Gazprom's Management Committee, seemed to confirm the trend.

The EU's dependancy on Russian gas is increasing steadily, and is expected to go from 25% (the current level of dependency) to 50% by 2030, according to the Commission.

Colette Lewiner, one of the authors of the report, told Reuters that the planned construction in Europe of numerous new fossil fuel power plants, most of which rely on imports of oil, coal or gas (notably from Russia), is incoherent with respect to the EU's objective of increasing supply security while decreasing CO2 emissions. source

Well, couldn't agree more! We either go green or buy gas from Russia, there's no middle way. But anyway, better Russia than USA.

China set to take global lead in renewable energy

The emerging Asian superpower is poised to surpass world solar and wind manufacturing leaders in Europe, Japan, and North America in the next three years, the Worldwatch Institute said in a new report released on Wednesday.

At current growth rates, the report says China will likely achieve - and probably even exceed - its target of obtaining 15% of its energy from renewables in 2020, up from 8% currently. By 2050, it could even reach 30%, according to the report, "Powering China's Development: The Role of Renewable Energyexternal ", published on 14 November.

"More than $50 billion was invested in renewable energy worldwide in 2006, and China is expected to invest over $10 billion in new renewables capacity in 2007, second only to Germany," the report points out.

It says a combination of ambitious targets, strong government policies and the manufacturing performance of Chinese companies could enable China to quickly "leapfrog" competitors in industrialised countries. source

My comment: Well, very well said again! All you need is an idea, few billions and decisive government. No question ask, no answers given.
EU plans inclusion of CO2 storage in carbon trading scheme

Industrial greenhouse gases prevented from entering the atmosphere through the use of so-called carbon capture and storage (CCS) technology are to be credited as not emitted under the EU emissions trading scheme, according to Commission plans to be put forward next year.

Carbon capture and storage (CCS) is a method whereby CO2 released during energy production from fossil fuels is captured, transported and stored in underground geological formations. CCS is seen as a key component of EU efforts to reduce greenhouse gas emissions.

But the technology is expensive and faces public scepticism in terms of the safety of long-term underground CO2 storage. It remains uncertain whether CCS will become commercially viable in time to contribute significantly to the EU's commitment to reduce CO2 emissions by 20% by 2020. source

My comment:Doesn't it sound little bit like a joke? EU keep on putting off and off the limits it put itself on. It's ridiculous. Why we should care about the jerks in the BMWs? Give them a fine and let them figure out the problem. As for storage, I wanna know, who guarantees me that after storaging the CO2, it will stay there.

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