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Sanctions Intelligence Update
July 17, 2014 SANCTIONS INTELLIGENCE UPDATE GENNADY TIMCHENKO & VOLGA GROUP adapting BUSINESS FOLLOWING U.S. & Canadian sanctions Overview In March and April, the US government sanctioned Russian businessman Gennady Timchenko, his Luxembourg-registered holding company Volga Group, and ten related subsidiaries. Timchenko was identified as a “member of the Russian leadership’s inner circle,” whose involvement in the energy sector was “directly linked to [President] Putin.” To date, Canada has sanctioned Timchenko, Volga Group, and nine Volga Group subsidiaries. The European Union has not acted against Timchenko or Volga Group. Since the announcement of US and Canadian sanctions, Timchenko and Volga Group- controlled firms have announced new projects in Asia, Europe, and Syria with reported financing from Chinese and Russian banks, including institutions sanctioned by the US on July 16. Financial institutions engaged in global business should consider the implications for AML and sanctions risk management. Timchenko’s post-sanctionS business ventures in China In late April 2014, President Putin appointed Gennady Timchenko to lead the Russia-China Business Council (RCBC), a body created in 2004 to expand partnerships between the two countries. Timchenko told reporters after President Putin’s RCBC announcement: “You know what Putin said? He introduced me by As head of RCBC, Timchenko is advancing Volga Group interests in saying Mr. Timchenko is the head of our business council. In other China. words – it is my words here – he is our main man for China.” • In late May 2014, Volga Group is constructing a terminal for announced a joint-venture with coal and iron ore shipments in the state-owned China Harbour Russia’s Far East. -
LNG Plant Cost Reduction 2014–18
October 2018 LNG Plant Cost Reduction 2014–18 OIES PAPER: NG137 Brian Songhurst Research Associate, OIES The contents of this paper are the author’s sole responsibility. They do not necessarily represent the views of the Oxford Institute for Energy Studies or any of its members. Copyright © 2018 Oxford Institute for Energy Studies (Registered Charity, No. 286084) This publication may be reproduced in part for educational or non-profit purposes without special permission from the copyright holder, provided acknowledgment of the source is made. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the Oxford Institute for Energy Studies. ISBN: 978-1-78467-120-4 DOI: https://doi.org/10.26889/9781784671204 i LNG Plant Cost Reduction 2014–18 – October 2018 Acknowledgements My thanks to fellow OIES colleague Claudio-Steuer for his contributions during the drafting of this paper. My thanks also to the following industry colleagues for their review and comments on the draft: Toby Chancellor-Weale, Chair, IChemE Oil and Natural Gas Special Interest Group (SONG) Chris Spilsbury, LNG Specialists Ltd John Rushbrook, Consultant ii LNG Plant Cost Reduction 2014–18 – October 2018 Preface In his recent papers for OIES on the future of gas in Europe and the global energy economy, Jonathan Stern identified affordability as a key factor in determining whether gas would play a major role in Non-OECD countries. As the majority of traded gas will be LNG, the key question is therefore whether the cost of developing new liquefaction projects can be low enough to allow the gas to be competitive when it reaches the end consumer. -
GECF Annual Statistical Bulletin 2019 3Rd Edition
1 2 GECF Annual Statistical Bulletin 2019 3rd edition Authors and Contributors Namely in Alphabetical Order Amira Remadna Data Analysis and Research Diana Cueto ICT and Software Support Katrien Hermans Public Relations and Marketing Maria Arteaga Graphic Design & Administrative Support Mohamed Arafat Data Engineering and Curation Mona Shokripour, PhD Data Modelling and Integration Rixio Morales, PhD ICT Solutions Architect and Maintenance Roberto Arenas Lara, PhD Team Leader 3 Disclaimer The GECF Annual Statistical Bulletin (ASB) 2019 is the result of the data gathering collection and processing obtained directly from GECF Member and Observer Countries through the GECF Data Exchange Mechanism and in part using processed data from secondary sources examined and analysed by GECF Secretariat. The data contained in the GECF ASB 2019 are for information purposes only and do not necessary reflect the views of GECF Member and Observer Countries. Neither GECF Secretariat nor any of GECF Member and Observer Countries nor any of their agents or their employees are liable for any errors in or omissions from such information and materials and does not assume any liability or responsibility for the accuracy completeness or reasonableness of data. Unless copyrighted by a third party, the information presented in the GECF ASB 2019 may be used and/or reproduced for research educational and other non-commercial purposes without GECF Secretariat’s prior written permission provided, fully acknowledging GECF as the copyright holder. Written permission from GECF Secretariat is required for any commercial use. The GECF ASB 2019 contains references to materials from third parties. GECF Secretariat will not be responsible for any unauthorized use of third party materials. -
Natural Gas the Composition of Natural Gas Is 95% Methane, Almost
Natural gas The composition of natural gas is 95% methane, almost 4% ethane and nitrogen, and 1% carbon dioxide and propane. It is produced by the natural transformation of organic materials over millions of years. Methane: the simplest hydrocarbon Methane gas belongs to the hydrocarbon family. A hydrocarbon is an organic composition that contains only carbon and hydrogen atoms. With just one carbon atom and four hydrogen atoms, methane (CH4) is the simplest hydrocarbon. Some other hydrocarbons are: propane (C3H8), ethane (C2H6) and butane (C4H10). Benefits of Natural Gas Natural gas is increasingly the fuel of choice in today's homes. Below are the top reasons to choose natural gas for your home. 1 | Affordability Natural gas costs less to use in your home than electricity, heating oil, propane or kerosene. On average, electricity costs almost four times more than natural gas. 2 | Convenience and reliability Natural gas is piped directly into your home. It's always there when you need it, and you never have to worry about running out of fuel or arranging for deliveries. 3 | Comfort Natural gas heat feels warmer than heat produced by an electric heat pump. 4 | Domestic supply Nearly 100% of the natural gas consumed in the U.S. is produced in North America with 90% coming directly from the U.S. 5 | Environmental impact Simply put - natural gas is the cleanest-burning energy source for your home. The combustion of natural gas emits 45% less carbon dioxide than coal. 6 | Energy efficiency Natural gas is highly efficient. About 90% of the natural gas produced is delivered to customers as useful energy. -
For Health and Climate: Retiring Coal-Fired Electricity and Promoting Sustainable Energy Transition in Developing Countries Author: by Donald P
For Health and Climate: Retiring Coal-Fired Electricity and Promoting Sustainable Energy Transition in Developing Countries Author: By Donald P. Kanak1 Abstract • Coal fuels 38% of global electricity and there are plans to build over 1,000 new coal-fired power plants, mostly in the developing countries with growing energy needs. • Carbon emissions from those current and planned power plants will prevent the world from achieving the 1.5⁰C climate scenarios that call for a reduction of coal-fired electricity from 38% to 9% of total generation by 2030 and to 0.6% by 2050. • ESG initiatives are resulting in leading global financial institutions exiting and/or avoiding new investments in coal, but other buyers are stepping in; thus, many existing and planned coal assets are likely, without intervention, to continue to operate well beyond 2030-2050. • Proposed solution: Coal Retirement Mechanisms (CRMs) financial facilities that purchase coal-fired power plants in developing countries from existing owners and retire the plants in 10-15 years vs. typical 30-40 years of operation. Funds paid to current owners of coal-fired power plants to be recycled into new greenfield sustainable power. • The CRM’s capital would come from developed countries, multilateral development banks, climate funds and/or blended finance. Those investors would be paid back from the power plants’ operating revenues, but at a lower rate of return reflecting today’s low costs of funds. Supplementary revenue from carbon credits, transfer of fossil fuel subsidies, or energy surcharges might be used to meet or accelerate the retirement date. • Parallel to the CRM, a Sustainable Energy Transition Mechanism (SETM) will provide host countries with both financial and technical assistance to accelerate transition towards renewables (including storage, transmission, and distribution infrastructure). -
Europe Gas Tracker Report 2021
Europe Gas Tracker Report 2021Mason Inman, Greig Aitken, Scott Zimmerman EUROPE GAS TRACKER REPORT 2021 Global ABOUT GLOBAL PERMISSION FOR NONCOMMERCIAL USE Energy ENERGY MONITOR This publication may be reproduced in whole or in part and Monitor Global Energy Monitor (GEM) is a in any form for educational or nonprofit purposes without network of researchers developing collaborative informa- special permission from the copyright holders, provided tional resources on fossil fuels and alternatives. Current that acknowledgement of the source is made. No use of this projects include: publication may be made for resale or other commercial ■ Global Coal Plant Tracker purpose without the written permission of the copyright holders. Copyright © April 2021 by Global Energy Monitor. ■ Global Fossil Infrastructure Tracker ■ Europe Gas Tracker FURTHER RESOURCES ■ Global Gas Plant Tracker The Europe Gas Tracker includes project-level data in ■ Global Coal Mine Tracker spreadsheets, methodology notes, and an interactive global ■ Global Steel Plant Tracker map. To obtain primary data from the Europe Gas Tracker, ■ The Gas Index please use our request form. ■ CoalWire newsletter ■ GEM.wiki energy wiki ABOUT THE COVER Cover photo: Construction of the Krk LNG Terminal in ABOUT THE EUROPE GAS TRACKER Croatia. Courtesy of Balkan Investigative Reporting Network. The Europe Gas Tracker is an online database that identifies, maps, describes, and categorizes gas infrastructure in the European Union and surrounding nations, including gas pipelines, liquified natural gas (LNG) terminals, gas-fired power plants, and gas fields. Developed by Global Energy Monitor, the tracker uses footnoted wiki pages to document each project. AUTHORS Mason Inman is Oil and Gas Program Director, Greig Aitken is Research Analyst, Scott Zimmerman is Researcher at Global Energy Monitor. -
Reply Comments of America’S Power Regarding the Commission’S Proposed Policy Statement
UNITED STATES OF AMERICA BEFORE THE FEDERAL ENERGY REGULATORY COMMISSION Carbon Pricing in FERC-Jurisdictional ) Organized Regional Wholesale Electric ) Docket No. AD20-14-000 Energy Markets ) REPLY COMMENTS OF AMERICA’S POWER REGARDING THE COMMISSION’S PROPOSED POLICY STATEMENT SUMMARY OF REPLY COMMENTS America’s Power submits these Reply Comments following the Initial Comments that were filed by at least 70 parties, including America’s Power, in response to the Commission’s Proposed Policy Statement on Carbon Pricing in Organized Wholesale Electricity Markets (“Policy Proposal”). i Our Initial Comments urged the Commission to withdraw its Policy Proposal and terminate Docket No. AD20-14-000. One of our major concerns is that the Commission’s statement of “encouragement” to consider carbon pricing could be misconstrued as a signal that states should adopt carbon prices and enable grid operators to submit new market rules for FERC approval. Such a signal would exceed FERC’s authority. On the other hand, if the Commission finalizes its Policy Statement, our Initial Comments urged the Commission to clarify its intent ii and to take into account certain considerations when reviewing carbon pricing proposals from ISOs/RTOs. iii After reviewing the Initial Comments of other parties, we continue to urge the Commission to withdraw its Policy Proposal and terminate the docket. However, we have modified our recommendation. Our recommendation now is that the Commission — • Withdraw the Policy Proposal and terminate the docket, as we urged the Commission -
Passing Gas: Why Renewables Are the Future
PASSING GAS: WHY RENEWABLES ARE THE FUTURE CLIMATECOUNCIL.ORG.AU Thank you for supporting the Climate Council. The Climate Council is an independent, crowd-funded organisation providing quality information on climate change to the Australian public. Published by the Climate Council of Australia Limited. ISBN: 978-1-922404-21-3 (print) 978-1-922404-22-0 (digital) Andrew Stock © Climate Council of Australia Ltd 2020. Climate Councillor This work is copyright the Climate Council of Australia Ltd. All material contained in this work is copyright the Climate Council of Australia Ltd except where a third party source is indicated. Climate Council of Australia Ltd copyright material is licensed under the Creative Commons Attribution 3.0 Australia License. To view a copy of this license visit http://creativecommons.org.au. Greg Bourne You are free to copy, communicate and adapt the Climate Council of Climate Councillor Australia Ltd copyright material so long as you attribute the Climate Council of Australia Ltd and the authors in the following manner: Passing Gas: Why Renewables are the Future. Authors: Andrew Stock, Greg Bourne, Will Steffen and Tim Baxter. The authors would like to thank our two reviewers, Dr Hugh Saddler and one anonymous reviewer who donated their time of reviewing this report. Professor Will Steffen Climate Councillor — Cover image: Climate Council. Jeeralang A Power Station in Victoria. This report is printed on 100% recycled paper. Tim Baxter Senior Researcher (Climate Solutions) facebook.com/climatecouncil [email protected] twitter.com/climatecouncil climatecouncil.org.au CLIMATE COUNCIL I Contents Key findings .....................................................................................................................................................................................ii 1. Introduction: Gas has no place in Australia’s economic recovery, or climate safe future ................................1 2. -
2012 Annual Report D'amico-SDN-ENG D'amico
d’Amico Società di Navigazione S.p.A. 2012 ANNUAL REPORT 2012 Annual Report Consolidated and Statutory Financial Statements for the Year Ended 31 December 2012 d’Amico Società di Navigazione S.p.A. Registered office: Via Siracusa 27, Palermo (Italy) Head office: Corso d’Italia 35/B, Rome (Italy) Share capital: Euro 25,000,000, fully paid-in Tax code, VAT registration and registration number in the Palermo Companies Register 00768720823 Contents L4 Corporate Boards and Officers B6 Report on Operations 6 Group Structure 8 d’Amico Società di Navigazione Group 9 Business Areas 12 Organization and Human Resources 14 Ship Management 16 Sustainable Development 17 Corporate Governance 19 Significant Events during the Year 22 Financial Performance Analysis – The Group 25 Operating Performance by Business Area 28 Financial Performance Analysis – d’Amico Società di Navigazione S.p.A. 30 Significant Events since the End of the Year and Business Outlook 36 Other Information d’Amico Società di Navigazione Group - Consolidated Financial Statements 39 as at 31 December 2012 40 Consolidated Income Statement 40 Statement of Comprehensive Income 40 Consolidated Statement of Financial Position 42 Consolidated Statement of Cash Flows 43 Consolidated Statement of Changes in Shareholders’ Equity 44 Notes d’Amico Società di Navigazione - Statutory Financial Statements 79 as at 31 December 2012 80 Separate Income Statement 80 Statement of Comprehensive Income 81 Statement of Financial Position 82 Statement of Cash Flows 83 Statement of Changes in Shareholders’ -
Yamal Lng: Meeting the Challenges of Natural Gas Liquefaction in the Arctic
YAMAL LNG: MEETING THE CHALLENGES OF NATURAL GAS LIQUEFACTION IN THE ARCTIC Christopher Ott1, Igor Chasnyk2, Sander Kaart2, Christian Bladanet3, Benoit Laflotte3, Guillaume Le-Ridant3, Benoit Delva3, and Oriano Zucchi4 1 3 Air Products and Chemicals, Inc. Yamgaz (TechnipFMC) 2 4 JSC Yamal LNG Baker Hughes, a GE Company The Yamal liquefied natural gas (LNG) facility is an integrated project located north of the arctic circle on the Yamal Peninsula in northern Russia. The project consists of three LNG trains that produce a total of 16.5 million tonnes per annum (mtpa), along with substantial infrastructure that includes extensive living accommodations, power generation utilities, an ice-free deep-water sea port, and an international airport. The geo-political context, project finance and the extraordinary human endeavor of a project of this size in the arctic were challenges rarely seen in the past. As this is the northern-most operating LNG facility in the world, this paper will cover the achievements of the project, including developing the largest Air Products AP-C3MR™ LNG Process train, constructing a highly modularized project in a harsh environment and successfully loading the first cargo during the polar winter night. This paper focuses on technological features that had to be carefully managed, for example: - Successfully implementing a new high availability, maximum capacity, parallel C3/MR compressor arrangement that required extensive collaboration between the main contractor, compressor supplier, plant operator, and process licensor to achieve the 5.5 mtpa capacity per train - Ethane and propane refrigerant make-up could be produced early due to the turbo-expander based NGL recovery unit - The commissioning and defrosting, under conditions where water exists only as a solid, also required adapting the warm climate methodology - Managing hydrates - Air cooling, in an environment with a very large winter-to-summer range (-40°C to +10°C) The paper will conclude by describing the successful operation and performance test of all three Yamal LNG trains. -
HIA South Korea April 2021
Contents Contents 1 Key Findings 4 Introduction 5 The State of Coal Power and Air Pollution in South Korea 6 Scope and Purpose of the Report 8 RESULTS 10 Emissions Load & Air Quality 10 Toxic Deposition 11 Health Impacts 13 Cumulative Cost of Coal Dependence, Past & Future 18 Recommendations 21 References 22 Appendix 1: Methods & Materials 24 Appendix 2: Stack Properties and Emissions Data 27 Appendix 3: Per-plant Results 30 About CREA The Centre for Research on Energy and Clean Air is an independent research organisation focused on revealing the trends, causes, and health impacts, as well as the solutions to air pollution. CREA uses scientific data, research and evidence to support the efforts of governments, companies and campaigning organizations worldwide in their efforts to move towards clean energy and clean air. We believe that effective research and communication are the key to successful policies, investment decisions and advocacy efforts. CREA was founded in December 2019 in Helsinki, Finland and has staff in several Asian and European countries. Authors: Lauri Myllyvirta Isabella Suarez Andreas Anhäuser Contributors: Minwoo Son The maps used in this document were prepared in accordance with South Korean regulation. CREA is politically independent. The designations employed and the presentation of the material on maps contained in this report do not imply the expression of any opinion whatsoever concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. Time for a Check Up: The Health and Economic Cost of Coal Dependence in South Korea’s Power Mix Key Findings ● Exposure to air pollution from coal-fired power plants (CFPPs) in South Korea is estimated to have caused approximately 9,5001 premature deaths since 1983, costing approximately USD 16 billion in healthcare and welfare expenditures, as well as loss of productivity and life expectancy. -
Significant Energy Assets on the Market (SEAM) Database on IHS
Significant Energy Assets on the Market (SEAM) Database on IHS Connect IHS Energy has launched a new database tool that actively tracks all known energy assets on the market and independently values them in a transparent manner utilizing more than 40,000 comparable transactions from IHS’s M&A database dating back to 1988. Assets on the Market database features include: • Searchable and exportable database covering all global and regional • Source documents including offering memos, prospectuses, and locations and all resource segments, detailing valuations and full press releases. operational data including reserves, production and acreage. • Full opportunity set currently totals approximately $250 billion • Contact information for sellers and advisors. Canada $25 B+ Europe $30 B+ Sellers Key Assets for Sale (or JV) Sellers Key Assets for Sale (or JV) Apache Corp. 1 million acres in Provost region of east-central Alberta Antrim Energy Skellig Block in Porcupine Basin Athabasca Oil Corp. 350,000 net prospective acres in Duvernay BNK Petroleum Joint venture partner sought for Polish shale gas play Canadian Oil Sands Rejects Suncor offer; reviewing strategic alternatives BP 16% stake in Culzean gas field in UK North Sea Centrica plc Offering 6,346 boe/d (86% gas) ConocoPhillips 24% stake in UK’s Clair oil field. Considering sale of Norwegian Cequence Energy Montney-focused E&P undergoing strategic review North Sea fields ConocoPhillips Western Canada gas properties Endeavour Int’l. Bankrupt; to sell Alba and Rochelle fields in the UK North