reSee.it - Tweets Saved By @Frank_Stones

Frank_Stones
Posted - December 13, 2023 at 1:14 PM
Saved - December 13, 2023 at 2:22 PM
reSee.it AI Summary
Norway's investments in Oil & Gas are set to reach a record high of $22 billion by 2024, marking a 5% increase from 2023. The country aims to tap into offshore resources, including the Arctic Barents Sea, while seeking better coordination with the EU for gas exports. Norway has become the EU's largest gas exporter, supporting the transition away from gas. With significant untapped gas reserves, the government encourages international companies to explore the Barents Sea. State-owned Equinor, Shell, and BP have committed to decarbonization, targeting methane net-zero emissions by 2030 and carbon neutrality by 2050. However, the COP28 agreement focuses on scope 1 and 2 emissions, leaving scope 3 emissions unaddressed, which contribute significantly to global emissions from the energy industry.

@Frank_Stones - Francesco Sassi

📯🇳🇴Norway's investments in Oil & Gas will reach a new high in 2024 to almost $22 billion. A nearly 5% increase compared to 2023. 🇳🇴expects to find more resources in its offshore, including in the Arctic Barents Sea, while it seeks more coordination with🇪🇺EU on gas exports 🧵 https://t.co/oSX5VbNfPo

@Frank_Stones - Francesco Sassi

According to Offshore Norway, investments in the🇳🇴Norwegian offshore will be up nearly 5% compared to 2023 & almost 20% higher than previous estimates. This is due to new upstream developments and the expansion of operating fields, other than a weak currency and high inflation

@Frank_Stones - Francesco Sassi

In the aftermath of the🇷🇺Russian invasion of🇺🇦Ukraine and the crumbling of the bilateral gas interdependence,🇳🇴Norway has become the largest exporter of gas to the🇪🇺EU and a key actor in stabilising the🇪🇺EU energy markets. 🇳🇴Oslo has promised to the🇪🇺EU to keep exports

@Frank_Stones - Francesco Sassi

as high as possible until 2027-2028 in order to support the🇪🇺transition away from🇷🇺gas In November,🇳🇴Norway recorded the highest amount of gas exports to the🇪🇺EU since last January amid ramping consumption and colder temperatures.

@Frank_Stones - Francesco Sassi

According to🇳🇴Norwegian authorities, around 65% of the overall gas resources on the Norwegian Continental Shelf had yet to be produced. Around 1.2 Tcm of gas reserves have already been discovered in the NCS. 🇳🇴Energy Minister Aasland said that the government hopes

@Frank_Stones - Francesco Sassi

those international companies active in the🇳🇴gas sector won't “leave no stone unturned in their quest to find more gas in the Barents Sea" and that they would continue to maximise export capacity in this area, including considering the possibility of building a new pipeline

@Frank_Stones - Francesco Sassi

from the Barents Sea to the already existing pipeline networks lying offshore the coast of🇳🇴Norway and providing sufficient gas supplies to several🇪🇺EU economies, including: 🇩🇪Germany 🇩🇰Denmark 🇫🇷France 🇧🇪Belgium 🇵🇱Poland 🇳🇱Netherlands https://t.co/CfAlDJ835w

@Frank_Stones - Francesco Sassi

🇳🇴state-owned Equinor and🇬🇧Shell & BP, major actors in the exploitation of🇳🇴assets, have signed the Oil and Gas Decarbonization Charter at #COP28 The declaration aims to reach methane net-zero emissions by 2030 and slash carbon emissions to net zero by 2050.

@Frank_Stones - Francesco Sassi

Still, the net zero commitment relates to scope 1 and 2 emissions, mostly related to upstream and midstream operations, where methane emissions are generated. The🇪🇺EU has approved a landmark political agreement to track, regulate and curb methane emissions, which will affect

@Frank_Stones - Francesco Sassi

🇳🇴Norway's gas business, so reliant on the🇪🇺EU market. Instead, #Cop28 Oil and Gas Decarbonization Charter left scope 3 emissions unchecked, contributing for the largest share of global emissions from the energy industry. Are you satisfied with the #Cop28Dubai final results❓

Frank_Stones
Posted - November 28, 2023 at 2:36 PM
Saved - November 28, 2023 at 2:45 PM
reSee.it AI Summary
Libya's gas exports to Italy are declining, raising concerns about the country becoming a gas importer. The domestic gas market is unbalanced, with growing demand from power plants and industries. Production at legacy fields is declining, threatening gas exports through the Greenstream pipeline. This is alarming for Libya's stability and for Italy, which relies on North African gas supplies. Investments of $12-13 billion are needed to develop new gas fields. A multi-year development plan between NOC and Eni aims to bolster gas supplies. Diplomatic visits have been made to strengthen connections with African countries. However, if investments are not increased, Libya may turn into a competitor for Italy, attracting gas imports from neighboring Algeria and Egypt.

@Frank_Stones - Francesco Sassi

🚨🇱🇾Libya's is risking to become a gas importer in the near future and stop exports to🇮🇹Italy. After the🇷🇺Russian invasion of🇺🇦Ukraine and the consequences for the🇪🇺EU gas market,🇮🇹Italy has been looking at North Africa to diversify imports. This is a worryng news for🇮🇹&🇪🇺 🧵 https://t.co/PyKsMIOI9K

@Frank_Stones - Francesco Sassi

According to the🇱🇾NOC's chairman Bengdara, within a couple of years🇱🇾could begin suffering from an unbalanced domestic gas market. The demand from power plants and the industry continues to grow and more domestic gas is needed.

@Frank_Stones - Francesco Sassi

At the same time, gas production at the Wafa and Bouri legacy fields, both running as a JV between🇱🇾NOC and🇮🇹Eni, is declining. These are old assets, which should be replaced to maintain gas production and exports through the🇱🇾🇮🇹Greenstream pipeline.

@Frank_Stones - Francesco Sassi

Just in the last three years,🇱🇾gas exports to🇮🇹have been declining by over 30%. If the Greenstream pipeline, built with a 11 bcm/y of capacity, continues to export gas to🇮🇹at this rate, it will likely run at below the 25% of the available capacity.

@Frank_Stones - Francesco Sassi

🚨🚨This is a distress signal towards for🇱🇾, relying on oil & gas exports for the stability of the national budget, amid an ongoing Civil War and continuous infighting between militias. But this is also bad for🇮🇹which seeks to secure gas supplies from North Africa

@Frank_Stones - Francesco Sassi

In the war-ravaged country,🇱🇾NOC says investments needed to develop new gas fields are close to $12-13 billion, including the offshore Structures A&E which are estimated to contain nearly 170 bcm of gas, or almost 2.5 times🇮🇹yearly gas consumption (2022 data) and for which

@Frank_Stones - Francesco Sassi

🇱🇾NOC &🇮🇹Eni have agreed on a multi-year development plan to bolster gas supplies, the largest investment🇱🇾has seen in decades, signed at the presence of🇮🇹PM Meloni. 🇮🇹has been trying to accelerate the Mattei Plan with the aim of making🇮🇹an energy hinge between🇪🇺&🌍Africa

@Frank_Stones - Francesco Sassi

Several diplomatic visits have been made to the whole African continent by both🇮🇹PM Meloni and her predecessor Mario Draghi, now working for the🇪🇺EU Commission as a special adviser on🇪🇺competitiveness.

@Frank_Stones - Francesco Sassi

Both PMs pushed for a deeper connection between🇮🇹and African countries, including🇱🇾 However, in a few years the country could even turn into a competitor for🇮🇹, attracting gas imports from bordering🇩🇿Algeria &🇪🇬Egypt should🇮🇹Eni not increase its investments there🤯

Frank_Stones
Posted - November 22, 2023 at 3:22 PM
Saved - November 22, 2023 at 3:47 PM
reSee.it AI Summary
Egypt is set to resume LNG exports, potentially to the EU, thanks to reduced domestic consumption and increased imports from Israel. The return of production at Israel's Tamar field allows for increased exports to Egypt. The Adam LNG tanker's arrival at the Idku plant signifies Egypt's comeback as an LNG exporter. Operations at Tamar field and the EMG pipeline have resumed, demonstrating the government's ability to safeguard critical infrastructure. While a truce brings hope for humanitarian aid, tensions persist as PM Netanyahu vows to achieve all goals, including eliminating Hamas. The success of the truce will impact energy security in the region.

@Frank_Stones - Francesco Sassi

📯🇪🇬Egypt is close to resume LNG exports, possibly to the🇪🇺EU, after many months of little or no activity in the two export terminals of Idku and Damietta. This is possible due to lower domestic consumption and increased imports from🇮🇱Israel. Does this mean troubles are over? 🧵

@Frank_Stones - Francesco Sassi

📯🇮🇱Israel has resumed production at the offshore gas Tamar field, allowing it to increase exports to🇪🇬Egypt. This is a positive news the🇪🇺EU gas market and🇪🇬energy security. Still,🇮🇱has given no reason why flows are now resuming and no information about Tamar's future 🧵

@Frank_Stones - Francesco Sassi

Bloomberg reports that the🚢Adam LNG tanker has arrived at🇪🇬Idku plant, signalling the return of the North African nation on the LNG market as an exporter, after importing an LNG cargo last month amid high domestic consumption and lower imports from🇮🇱 https://www.bloomberg.com/news/articles/2023-11-22/egypt-set-to-restart-lng-exports-after-israel-gas-supply-rises?utm_source=website&utm_medium=share&utm_campaign=linkedin&sref=SamVlrGx

@Frank_Stones - Francesco Sassi

The🇮🇱Hamas war impacted🇮🇱production, halting the operations at the Tamar field and those of the🇮🇱🇪🇬EMG pipeline. Now both seem to have resumed activities, in a bold signal by the🇮🇱government to international investors that IDF could deal with threats to critical infrastructures.

@Frank_Stones - Francesco Sassi

A truce between the parties should bring humanitarian assistance to the🇵🇸Palestinians in Gaza and free dozens of prisoners. 🇪🇬🇸🇦🇱🇧🇯🇴Arab foreign ministers welcomed the agreement, but said the truce should be extended and the fights brought to a halt https://english.aawsat.com/arab-world/4683641-arab-nations-say-israel-hamas-truce-should-be-extended-aid-ramped

Arab Nations Say Israel-Hamas Truce Should Be Extended, Aid Ramped Up Arab foreign ministers welcomed an agreement for a temporary truce between Israel and Gaza militant group Hamas on Wednesday but said it should be extended and become a first step toward a full cessation of hostilities. The foreign ministers of Saudi Arabia, Egypt and Jordan told a media briefing in London that the agreement, which includes hostage releases and stepped-up aid into the devastated Gaza Strip, should also ultimately lead to a resumption of talks for a two-state solution. english.aawsat.com

@Frank_Stones - Francesco Sassi

However🇮🇱PM Netanyahu already said that, after the truce, the war "will continue until we achieve all our goals", meaning the elimination of Hamas. Meanwhile, the fights in the🇵🇸West Bank and the missile barrage at the border between🇮🇱&🇱🇧is continuing, with victims on both sides.

@Frank_Stones - Francesco Sassi

In the region, energy security will be influenced by whether the truce will be a success or not. This shows how🇮🇱🇪🇬gas interdependence entails a fragile balance between national & energy security. 🤯🇪🇬could turn out to be the one hit the most by an extension of the🇮🇱Hamas war

Frank_Stones
Posted - November 21, 2023 at 1:01 PM
Saved - November 21, 2023 at 1:29 PM
reSee.it AI Summary
The Olkiluoto 3 nuclear reactor, EU's largest power generator, experienced a shutdown due to a cooling system fault. Repairs are taking longer than expected. The Balticconnector gas pipeline and telecommunication cables between Estonia and Sweden have also faced issues, possibly caused by the same vessels. Power prices have doubled, and without the reactor, alternative fuels like gas must be consumed. Cold weather increases gas demand, but wind conditions will help balance the system. However, Helsinki is now an energy island due to pipeline disruptions. The reactivation of Olkiluoto 3 may be delayed, leading to a peak demand period. Energy security concerns are becoming more complex.

@Frank_Stones - Francesco Sassi

🚨☢️The🇫🇮Finnish Olkiluoto 3 nuclear reactor,🇪🇺EU largest power generator, has suffered a shutdown due to a fault in the cooling system. Repairs are taking longer than expected. ⚡️Electricity prices📈 🚫🇫🇮🇪🇪Balticconnector unavailable for months Is🇫🇮energy security in peril? 🧵

@Frank_Stones - Francesco Sassi

🚨The🇪🇪Estonia Prime Minister Kaja Kallas says that the 3 incidents at the🇫🇮🇪🇪Finnish-Estonian Balticconnector gas pipeline & telecommunication cables between🇫🇮🇪🇪&🇸🇪Sweden "are related" to each other and possibly caused by the same🚢vessel(s) One is from🇨🇳China, one from🇷🇺Russia

@Frank_Stones - Francesco Sassi

On Sunday, the 1,600MW unit known as OL3 suffered an unexpected outage due to a turbine problem. Reportedly, the reactor had shut down automatically when a fault in the cooling system was detected. According to the🇫🇮operator TVO, the event had no implications for☢️safety

@Frank_Stones - Francesco Sassi

Repairs are taking longer than expected and the unit, after repeated delays, should come back by late Tuesday's afternoon. 📈As a consequence, power prices have doubled in🇫🇮 https://yle.fi/a/74-20061308

Olkiluoto nuclear reactor repairs delayed Teollisuuden Voima had stated that the repairs might take until around midday on Tuesday, but that was found to be an under-estimate. yle.fi

@Frank_Stones - Francesco Sassi

☢️nuclear is the largest source of power, generating over 30% of🇫🇮⚡️power needs, followed by hydropower and bioenergy and waste, then comes wind (12%) and natural gas, just over 5%. Without the OL3 reactor🇫🇮must consume alternative fuels, including gas. https://t.co/ygFYOGumil

@Frank_Stones - Francesco Sassi

In the weekend, a cold snap will spread across🇪🇺and🇫🇮Helsinki is forecast to experience lows of -11.5C for 4 consecutive days. The cold will also envelop🇩🇪Germany and the🇬🇧UK, pushing up gas demand of across and demanding higher rates of gas withdrawals from storages

@Frank_Stones - Francesco Sassi

Luckily for🇫🇮, wind conditions will boost⚡️generation, reducing gas consumption. However, given the source's intermittent nature, gas will come in to balance the system. The more OL3 stays out, the more gas🇫🇮, which has no large storage capacity, will consume

@Frank_Stones - Francesco Sassi

Once connected to🇪🇪Estonia through the Balticconnector pipeline,🇫🇮had also the possibility to import gas from🇱🇻Latvia's storage infrastructures. However, since🇨🇳China's Newnew Polar Bear vessel's anchor disrupted the pipeline,🇫🇮has become an energy island within🇪🇺and now it could

@Frank_Stones - Francesco Sassi

only source LNG from the international market. Nonetheless, the icy conditions at the major🇫🇮3.9 mt/y Inkoo terminal are making it difficult to secure cargoes. There are only a few vessels which could navigate towards the terminal. Many of these are operated by🇷🇺Russia https://t.co/nFZfkJ9fr7

@Frank_Stones - Francesco Sassi

Could Olkiluoto 3's reactivation be delayed again? In that case,🇫🇮will power up alternative sources to balance the system, likely to witness a persistent peak demand period over the next few days. I am sure🇫🇮authorities are doing the best they can to face these unplanned problems

@Frank_Stones - Francesco Sassi

However, I remember how Helsinki reassured everybody about🇫🇮energy security when the🇪🇪🇫🇮Balticconnector incident happened, just over a month ago, and how they treated with sufficiency the absence of Baltic gas in🇫🇮energy system. 🧐Now it seems the issue is a bit more complex

Frank_Stones
Posted - November 20, 2023 at 12:21 PM
Saved - November 20, 2023 at 3:32 PM
reSee.it AI Summary
The security of maritime chokepoints is a growing concern for energy markets. Yemen's Houthi rebels have seized a car carrier in the Red Sea, targeting ships. This exacerbates the impact of the worst drought in 70 years at the Panama Canal, forcing transit through other chokepoints like Egypt's Suez Canal. The rebels' actions are politically motivated, supporting the Palestinian cause and challenging Saudi Arabia's role. The seizure highlights the potential weaponization of maritime chokepoints, impacting oil and gas tankers. The disruption of these key transit routes is crucial for energy markets, causing bullish reactions in oil and gas prices.

@Frank_Stones - Francesco Sassi

🚨🚢The security of maritime chokepoints around the world is, again, a major concern for energy markets. 🇾🇪Yemen's Houthi rebels have seized a car carrier in the Red Sea, owned by a🇮🇱Israeli businessman Ray Shipping Group. 📯The group has vowed to continue to target🇮🇱ships 🧵 https://t.co/kdqbtFYbVC

@Frank_Stones - Francesco Sassi

🚨🚢The worst drought over the last 70 years at the🇵🇦Panama Canal is slowing ships' navigation, challenging the economics of energy trade. Also, this forces the transit through other chokepoints such as the🇪🇬Egypt's Suez Canal, now even more strategic for energy geopolitics. 🧵 https://t.co/Q3CteIwdOM

@Frank_Stones - Francesco Sassi

On Sunday,🇾🇪Yemen's Houthi rebels, financially and politically backed by🇮🇷Iran have seized a car carrier named Galaxy Leader in the Red Sea. This is a political act in support of the🇵🇸Palestinian cause and Hamas, amid the ongoing battle in Gaza against the🇮🇱IDF https://t.co/DX2m2GvIrV

@Frank_Stones - Francesco Sassi

In 2021🇾🇪Houthis already targeted🇮🇱ships of the same company. After October 7,🇾🇪Houthis are the only🇮🇷backed force to have declared an open war against🇮🇱, launching cruise missiles and drones at more than 2,000km away, intercepted by🇺🇸US naval units deployed in the area.

@Frank_Stones - Francesco Sassi

🇾🇪Houthis involvement in the conflict is more than just a signal to🇮🇱 It calls into question the leadership in the Islamic world against the Netanyahu government and targets the role of🇸🇦Saudi Arabia, which has fought Houthis in the full-scale civil war erupted in 2014

@Frank_Stones - Francesco Sassi

While the Civil War has temporarily halted as🇸🇦&🇮🇷 have found a political compromise, the country is still run by two competing governments. 🇸🇦has pursued a normalisation with🇮🇱, a process interrupted on October 7, and 🇮🇷has gained more traction in coordinating the efforts of

@Frank_Stones - Francesco Sassi

the several militias financially backed, including🇱🇧Lebanon's Hetzbollah. The attacks over the🇮🇱IDF positions in the North, close to the border, are intensifying. A direct involvement of Hetzbollah could cause further disruptions to🇮🇱gas facilities in the offshore. https://t.co/iqt7HAv449

@Frank_Stones - Francesco Sassi

Nevertheless, the seizure of the🇮🇱car carrier is a political signal that the transit through maritime chokepoints could be easily weaponised. All the groups opposing🇮🇱in the region could target one🛢️oil or🚢LNG tanker affiliated with🇮🇱companies or its🇺🇸🇪🇺Western allies

@Frank_Stones - Francesco Sassi

As I have already said, the disruption of the🇵🇦Panama Canal caused by climate change makes the secure and safe transit through the 🇪🇬Suez Canal 🇩🇯🇪🇷🇾🇪🇸🇴Bab el-Mandeb 🇦🇪🇮🇷🇴🇲🇶🇦Strait of Hormuz key for energy markets. 📈Not by accident, Oil & Gas prices reacted bullish on the news

Frank_Stones
Posted - November 17, 2023 at 1:30 PM
Saved - November 17, 2023 at 3:22 PM

@Frank_Stones - Francesco Sassi

This is how 🌲Climate change 🚨Energy security 🌍International relations come together and become one enormous challenge for all in the new energy geopolitics, deeply affecting climate resilience, economic stability and national security.

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