Page 13 - Gi flipbook May 2018

FRANCE
France calls on EU nations to

adopt carbon price floor Brune Poirson

France wants to adopt a we are going to accelerate measures designed to curb
regional carbon price floor the fight against climate supply from 2019 get closer.
change,” Poirson said. “It’s true we have
The conference in reformed the European
Brussels brought together trading scheme but with
officials from France, the expected price levels
Germany, Britain, Finland, for emission permits,
the Netherlands and coal will remain the most
Sweden to discuss how competitive fossil fuel for
to send a strong market years to come,” Poirson said.
signal toward meeting the Such a regional initiative
bloc’s goals of reducing could bring additional
greenhouse gases by at emission reductions, revenues
least 40 per cent by 2030. for national budgets and
Carbon prices under the reduce the need to subsidise
European Emissions Trading renewables, she argued.
FRANCE CALLED ON from €5 to €30 per tonne System (ETS), which Traders, however, said
other EU nations to adopt in power generation to help charges more than 11,000 there is little expectation
a regional carbon price accelerate the shift from companies for each tonne a Europe-wide floor price
floor for power generators coal to gas and renewables, of carbon dioxide they emit, would ever materialize in
to promote a shift away reports Reuters. have suffered from a glut of the EU’s trading system.
from coal to more climate- Power generation permits, prompting reforms “It’s really not realistic,”
friendly fuels. accounts for about a fifth of agreed this year. one carbon trader said.
At a conference hosted the bloc’s total emissions. Benchmark prices in the “And I don’t see what the
by France to debate the “The prices are often EU’s cap-and-trade system point would be. They’ve
issue, French Ecology too weak to push real hit 10.32 euros/tonne in just passed very ambitious
Minister Brune Poirson changes in behaviour and March. Analysts expect market reforms which will
called for a price floor of yet this is what we need if prices to continue rising as lead to higher prices.” ■
NORD STREAM

ASIA

Asian oil and gas to boom by 2025, predicts analysts

Analysts predict a boom in ASIA HAS 130 new crude gas projects account for
Asian oil and gas projects oil and natural gas projects 76 and 44 of new projects
planned to go into operation respectively, with five coal-
between 2018 and 2025, bed methane, three heavy
reports Energy Live News. oil and two unconventional
That’s according to gas projects also planned.
analytics firm GlobalData, India is expected to lead
which says these projects growth in the market with
will contribute around a total of 62 projects,
518,000 barrels per day followed by China with 20
to global oil production and Indonesia with 19.
and nearly 11.5 billion cubic Malaysia is likely to drive
feet per day (bcfd) to the natural gas production with
world’s gas production. a forecast contribution of
Around 76 of the projects 3.8bcfd by 2025, whereas
are still in the early-stages China will be responsible
of planning while 54 have for the largest contribution
progressed to well-defined to oil and condensates with
development plans. 195mbd of capacity to be
Conventional oil and installed. ■

13

News.indd 8 19/04/2018 12:43