article thumbnail

BNEF, Snam, IGU report finds global gas industry set to resume growth post-pandemic; low-carbon technologies for long-term growth

Green Car Congress

After growing by more than 2% in 2019, global gas use is set to fall by around 4% in 2020, as the COVID-19 pandemic reduces energy consumption across the global economies. The pandemic has created disruption in the global energy sector, but low gas prices will ultimately stimulate demand growth as the economy recovers.

Gas 243
article thumbnail

Opinion: How Much Longer Can OPEC Hold Out?

Green Car Congress

With its headquarters in Vienna, Austria, one of the mandates of 12-member OPEC is to “ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry.” Source: opec.org).

article thumbnail

Opinion: Is Russia Plotting To Bring Down OPEC?

Green Car Congress

Energy is the foundation of Russia, its economy, its government, and its political system. Russia supplied about 30 percent (146.6 They pose an existential threat to the industry and therefore to the Russian economy: The revenues Russia can earn from its crude and natural gas exports face intense pressure. mmbbl/day) in 2013.

Russia 150
article thumbnail

Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

Green Car Congress

million barrels per day in 1H 2015, in part because as Russia's economy contracted, reducing domestic crude demand to 3.47 As we have pointed out, RBC Capital’s fragile five , Algeria, Libya, Nigeria, Iraq and Venezuela, the pain is intense. Moreover, Saudi policy, combined with the impact of U.S. million barrels/day in 2014 to 7.55

article thumbnail

Europe moves forward on the Energy Union; transport key element

Green Car Congress

Today, we set in motion a fundamental transition towards a low-carbon and climate-friendly economy, towards an Energy Union that puts citizens first, by offering them more affordable, secure, and sustainable energy. Six Member States depend on a single supplier for their entire gas imports and therefore remain too vulnerable to supply shocks.