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Canada signs off on four LNG export licenses

Canada is well positioned to help meet the growing market demands for liquified natural gas, Canadian Natural Resources Minister Greg Rickford said. "World energy demand is on the rise, and Canada has the unprecedented energy supply to meet that demand," he said in a statement. Rickford announced Wednesday the government approved four long-term liquified-natural gas export licenses for projects along the country’s West Coast. Canadian Prime Minister Stephen Harper has worked to diversify an economy that relies almost exclusively on the United States for oil and natural gas exports. "Opening new markets for our energy products supports our government’s top priority: creating jobs, growth and long-term prosperity for Canadians," Rickford said. Rickford said LNG from Canada’s West Coast can get to Asian markets in less than two weeks, compared with the month it takes a tanker to leave from export terminals in the Gulf of […]

Posted On : Published By : Tom Whipple
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A Canadian family's 'Plan B' to pump tar sands oil

Keystone XL, a pipeline proposal to pump Canadian oil sands through the heart of America, has alarmed environmentalists and become one of the most contentious issues of the Obama presidency. But there is a "Plan B" to cut the United States out of the picture, and it is championed by one of Canada’s wealthiest business dynasties. Since 2012, the billionaire Irving family has been advocating a proposal called Energy East. The 2,858-mile (4,600-km) pipeline would link trillions of dollars worth of oil in land-locked fields in the western province of Alberta to an Atlantic port in the Irvings’ eastern home province of New Brunswick, north of Maine, creating a gateway to new foreign markets for Canadian oil. The C$12 billion ($10.8 billion) line, which would pump 1.1 million barrels per day, would include about 1,865 miles of existing natural gas pipeline converted to […]

Posted On : Published By : Tom Whipple
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A Canadian family’s ‘Plan B’ to pump tar sands oil

Keystone XL, a pipeline proposal to pump Canadian oil sands through the heart of America, has alarmed environmentalists and become one of the most contentious issues of the Obama presidency. But there is a "Plan B" to cut the United States out of the picture, and it is championed by one of Canada’s wealthiest business dynasties. Since 2012, the billionaire Irving family has been advocating a proposal called Energy East. The 2,858-mile (4,600-km) pipeline would link trillions of dollars worth of oil in land-locked fields in the western province of Alberta to an Atlantic port in the Irvings’ eastern home province of New Brunswick, north of Maine, creating a gateway to new foreign markets for Canadian oil. The C$12 billion ($10.8 billion) line, which would pump 1.1 million barrels per day, would include about 1,865 miles of existing natural gas pipeline converted to […]

Posted On : Published By : Tom Whipple
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Russian Energy Denied Goods as U.S. Exports Suspended

The Obama administration is blocking certain U.S. exports to Russia , including some used in its oil and gas industry, expanding the response to the annexation of Crimea. The State Department said today it halted licensing for exports of defense items and services on March 24. The Commerce Department posted a notice on its website saying it had also suspending licensing, effective March 1. Goods licensed by Commerce alone represented $1.5 billion, or 14 percent of all U.S. exports to Russia last year. “This is a lot more significant than blocking some oligarchs,” said Michael Burton , a Washington lawyer who works on export controls. “In light of the allegations that have been made, how could we continue to license, say, rifle scopes to Russia?” Full coverage of the : The U.S. has previously issued sanctions to business leaders and government officials with ties to Russian President Vladimir Putin […]

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IHS: Western sanctions indirectly could hinder Russian oil, gas revenues

Western sanctions imposed against Russian government officials and business executives regarding Russia’s conflict with Ukraine could slow the availability of capital for Russian oil and gas companies trying to launch major new projects, IHS said. The US and Europe earlier this month strengthened economic sanctions against Russia in response to Russia’s annexation of Crimea. “While the sanctions so far do not impose any direct restrictions on the Russian energy sector, they undermine investor confidence, impeding Moscow’s efforts to generate economic growth through expanded investment,” said Julia Nanay, IHS Russia and Caspian energy analyst based in Washington, DC. International sanctions could weaken the ruble, resulting in what Nanay calls “negative momentum for Russian economic growth.” She said, “The sanctions on Russian officials, as well as ratings downgrades on investment, may negatively impact various big-ticket upstream and midstream projects perceived as vital for the Russian state–including gas pipelines, LNG projects , […]

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Russian Buildup Stokes Worries

Russian troops massing near Ukraine are actively concealing their positions and establishing supply lines that could be used in a prolonged deployment, ratcheting up concerns that Moscow is preparing for another major incursion and not conducting exercises as it claims, U.S. officials said. Such an incursion could take place without warning because Russia has already deployed the array of military forces needed for such an operation, say officials briefed on the latest U.S. intelligence. The rapid speed of the Russian military buildup and efforts to camouflage the forces and equipment have stoked U.S. fears, in part because American intelligence agencies have struggled to assess Russian President Vladimir Putin ‘s specific intentions. The troop movements and the concealment—involving covering up equipment along the border—suggest Mr. Putin is positioning forces in the event […]

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Obama Tells Europe to Get Its Energy House in Order

President Barack Obama is passing through Europe, and the Russian annexation of Crimea is top of the agenda. At a summit meeting with European Union leaders in Brussels, Mr. Obama was pressed to speed the export of America’s natural gas as a means of reducing the bloc’s reliance on Russia. Sure thing, said the president, who this week approved a seventh application to export LNG. Let’s just get this trade deal signed and the gas can flow, he added, and in the meantime,  how about you get your own act together ? “This entire event, I think, has pointed to the need for Europe to look at how it […]

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Ukraine crisis: Old constraints spike Kremlin’s firepower

From armour and kit to structure and logistics, the Kremlin has for six years been on a mission to transform Russia’s military from a clunking Soviet-era relic into a modern, flexible fighting force. Given the surgical ease with which Russian troops secured Crimea, wrongfooting Kiev and blindsiding Nato, it would be tempting to judge the reforms as having worked. Indeed, to many in Europe, Russia is proving itself a militarily resurgent power, adroitly, if aggressively, wielding its newfound heft. Russia’s defence budget is forecast to rise to just under 2.5tn roubles ($70bn) this year compared with 1.8tn roubles in 2012. But this perception belies the real state of Russia’s armed forces, which contains 850,000 active service personnel and 2m reservists. Although much changed since the country’s last major campaign, against Georgia in 2008, Russia’s military remains ill-organised and largely underprepared. In depth Crisis in Ukraine Russia has annexed the […]

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Total and Lukoil in talks over Russian shale deal

Total is in talks to partner with Lukoil on its shale oil projects in Russia, as Moscow targets unconventional resources to replace falling production at ageing fields in Siberia. Lukoil, the largest private energy company in Russia, is exploring the giant but unproven Bazhenov formation, which holds the lion’s share of Russia’s shale oil reserves, estimated by the US Department of Energy to be the biggest in the world. People familiar with the matter said that Lukoil and the French oil major are discussing a joint venture to co-operate on the production of “difficult oil” in Russia – a category that includes shale oil. There is no guarantee that the talks would result in a deal, they added. Total and Lukoil declined to comment. The two companies have been discussing a tie-up since before Russia’s annexation of Crimea and the subsequent sanctions imposed on the country by the US […]

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The bill for climate change is coming due

Americans have just endured one of the coldest winters in memory, so global warming may not be on their radar. But a new U.N. panel report has just refocused the public debate on a problem some scientists call the greatest threat facing the world.

There is trouble ahead for global agriculture, warns the influential Intergovernmental Panel on Climate Change, if measures are not taken quickly to reduce greenhouse gas emissions. The panel, which synthesizes the findings of thousands of peer-reviewed studies every seven years, has issued a report card on the state of the planet.

Posted On : Published By : Tom Whipple