In this Issue:

FROM THE EDITOR: LOOKING BACK, LOOKING FORWARD

 

COP28 came at the end of another very volatile year for the global energy market. We look ahead to what 2024 has in store, and COP29 in Azerbaijan.

 

COP28 MOVES THE DIAL ON CLIMATE CHANGE

 

On balance, the COP28 deal represents significant progress in the fight to tackle climate change and global warming.

 

WHAT COP28 MEANS FOR NATURAL GAS

 

Even though this is a historic agreement in that for the first time it commits to “transitioning away from fossil fuels”, it still leaves a role for oil and gas in future energy systems for a long time to come.

 

A DISAPPOINTING YEAR FOR SENEGAL’S NASCENT GAS SECTOR

 

Rising costs, delays and a reported dispute between BP and Senegalese authorities have meant upstream gas prospects have not lived up to hopes for the West African country.

 

GAS MAY SERVE AS PRETEXT FOR VENEZUELA TO SPAR WITH T&T

 

Trinidad and Tobago have a greenlight from Washington to work with Venezuela on the joint Dragon project, but Madura appears to be seeking a sweeter deal.

 

IRAN’S GAS WOES IN FOCUS

 

Iran boasts the second-largest natural gas reserves in the world, but systemic problems mean that it is struggling with supply shortages.

 

COASTAL GASLINK’S MECHANICAL COMPLETION PAVES WAY FOR CANADIAN LNG EXPORTS

 

The Coastal Gaslink pipeline achieved mechanical completion in November, and paves the way for the start-up of Canadian LNG exports in 2025.

 

FROM THE EDITOR: COP28 DELIVERS HISTORIC MILESTONE, BUT IT’S NOT THE NAMING OF LORD VOLDEMORT

 

COP28 is over and participants and observers are mulling the results. What are we to make of it?

 

CHINA RE-EMBRACES LNG AS SOUTHERN POWER DEMAND SURGES

 

2024 could finally be the year that Saguaro Energia makes it to a final investment decision.

 

US POISED TO BECOMELNG MARKET’S NO.1 SUPPLIER

 

From 2022-2028, 45% of new LNG capacity worldwide will come onstream in the US, but Canada and Mexico will capture North America’s west coast opportunity. North America will become the primary source of global LNG supply.

 

SOUTH AFRICA INCHES TOWARDS LNG IMPORTS

 

South Africa is finally on the brink of developing its first LNG import terminals, just as it closes in on a substantial increase in domestic gas production. A combination of imported and domestic gas could address the country’s chronic power shortages and still heavy dependence on coal

 

FROM THE EDITOR: A WIDENING GULF

 

The conference of the parties, meeting in the Persian Gulf oil state of the UAE, have reluctantly agreed to move away from fossil fuels, but the Canadian delegation’s efforts to push that agenda don’t sit well with Alberta.

 

IEA: LOW-EMISSION HYDROGEN AT RISK

 

Lagging policy support and rising cost pressures put investment plans for low-emissions hydrogen at risk globally.

 

COP28 YIELDS LANDMARK OIL AND GAS CHARTER TO SLASH METHANE EMISSIONS

 

If met, these initiatives and commitments have the potential to avert a significant amount of global warming before 2030. The urgent task ahead for all parties is to ensure this happens.

 

CHINA’S ELECTRIFICATION ENDGAME

 

Electrification will be the endgame of China’s decades-long energy transition, with a major new outlook released at COP28 in Dubai predicting power demand to more than double by 2060 as Beijing electrifies swathes of the Chinese economy.

 

LEGAL AMENDMENT PAVES WAY FOR GERMAN HYDROGEN NETWORK

 

Germany’s plan for a nearly 10,000-km core hydrogen network is taking shape, but financing arrangements could prove a stumbling block.