Carbon

CME to Launch Global Emissions Offset Futures Contract

CME to Launch Global Emissions Offset Futures Contract

CME Group plans to launch a futures contract in March that would provide a regulated, market-based solution to manage global emissions risk. The Global Emissions Offset (GEO) futures contract, which is pending relevant regulatory reviews before a launch on March 1, was jointly developed with Xpansiv CBL Holding Group, a data and technology firm focused…

January 26, 2021
Qatar Petroleum Launches Initiative to Cut Emissions from LNG, Upstream Operations

Qatar Petroleum Launches Initiative to Cut Emissions from LNG, Upstream Operations

State-owned Qatar Petroleum (QP), the world’s leading liquefied natural gas (LNG) exporter, has unveiled an ambitious plan to cut emissions and drastically reduce the environmental footprint of its fossil fuel operations.  The company said its “sustainability strategy” establishes targets to align with the goals of the United Nations climate accord, aka the Paris agreement, drafted…

January 21, 2021

Carbon Costs, JKM Strength Push European Natural Gas Prices Higher — The Offtake

A roundup of news and commentary from NGI’s LNG Insight European carbon credits hit $37.57 this week, a high not seen since 2006, according to EBW Analytics Group. “Increases in carbon prices in the European Union are bullish for natural gas in the U.S., since the impact on coal-fired generators in Europe is twice as…

December 11, 2020
Global LNG Prospects Seen Dwindling as Renewables, Efficiencies Expand

Global LNG Prospects Seen Dwindling as Renewables, Efficiencies Expand

More than 75% of new liquefied natural gas (LNG) global supply could be at risk because of quickly expanding renewable energy resources, according to an analysis by Wood Mackenzie. In a forecast issued on Wednesday, the consultancy said its scenario for worldwide gas demand is going to come under pressure as power sector investments increase…

December 9, 2020
Renewables, Nuclear Seen Supplying 10% of Global Primary Demand This Year

Renewables, Nuclear Seen Supplying 10% of Global Primary Demand This Year

Non-carbon energy is expected to reach or exceed 10% of global primary energy demand for the first time ever in full-year 2020, according to new analysis by IHS Markit’s Jim Burkhard, head of oil markets, energy and mobility. Non-carbon refers to wind, solar, geothermal, hydroelectric and nuclear power. Non-carbon energy’s share of global energy demand…

December 9, 2020
ICE Reports Record Open Interest in Environmental Risk Tools

ICE Reports Record Open Interest in Environmental Risk Tools

With a growing commitment among energy companies to tackle climate change, open interest across Intercontinental Exchange Inc.’s (ICE) environmental complex reached a record high last week. The environmental complex, which includes futures and options connected to ICE’s European and California Carbon allowances, Regional Greenhouse Gas Initiative and renewable energy credits, hit record open interest of…

November 16, 2020
Natural Gas Utilities to Play Key Role in Decarbonization, Says Sempra Chief

Natural Gas Utilities to Play Key Role in Decarbonization, Says Sempra Chief

Natural gas utilities can help lead the transition to a carbonless energy future in the United States, Sempra Energy CEO Jeffrey Martin said last week.  California, where two of Sempra’s three major U.S. utilities operate, has a regulatory proceeding to develop a strategy for a phased approach to developing a multi-decade strategy for gas. Martin…

November 9, 2020
Enbridge Outlines ESG Goals, Including Net Zero Emissions by 2050

Enbridge Outlines ESG Goals, Including Net Zero Emissions by 2050

On fronts from climate change to gender and racial equity, Enbridge Inc. has promised to march in step with avowedly “progressive” government and investor agendas for the next three decades. “The energy industry is in the midst of transition and we recognize the need to adapt to the changing expectations of our customers,” said the…

November 9, 2020
Jera to Shutter Inefficient Japanese Coal Plants by 2030 in Move to Net-Zero Carbon Goal

Jera to Shutter Inefficient Japanese Coal Plants by 2030 in Move to Net-Zero Carbon Goal

Japan’s biggest power producer Jera Co. Inc. plans to shutter all its inefficient coal-fired generators in the country by 2030 as it works toward zero carbon emissions by 2050. Jera, a joint venture between utilities Tokyo Electric Power Co. and Chubu Electric Power Co., on Tuesday unveiled more specific plans to move to net-zero carbon…

October 13, 2020
China Chasing Carbon Neutrality by 2060, but LNG Imports Unlikely at Risk

China Chasing Carbon Neutrality by 2060, but LNG Imports Unlikely at Risk

China is aiming to achieve peak carbon dioxide (CO2) emissions before 2030 and carbon neutrality before 2060, President Xi Jinping said Wednesday. In an address to the United Nations (UN) General Assembly focused largely on the need for a coordinated global response to the Covid-19 pandemic, Xi said China will scale up its Intended Nationally…

September 24, 2020
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