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S&Ds push for stronger energy co-operation to prevent future #GasSupply crises

EU Reporter Correspondent

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Mechanic, checking the exhaust fumes of a diesel fuelled passenger car for emission gasses, such as carbon dioxide.

S&D spokesperson on this issue Theresa Griffin MEP said: "While the EU is moving towards a more sustainable and energy-efficient economic model, we are still highly reliant on external sources of energy, especially when it comes to gas. In fact, we currently import 65% of our gas from Russia, Norway and Algeria at a cost of €400 billion each year. We must lower this figure and make ourselves less vulnerable.

“This involves developing regional risk assessments and emergency plans to strengthen our energy security. In an increasingly interconnected gas market, by working together we can ensure the security of gas supply to every member state.

“Solidarity is at the core of this regulation. In the event of any future gas crisis, member states will have to co-operate to protect our most vulnerable citizens - including our hospitals and essential social services. In the long run, Socialists and Democrats are also pushing for a diversified energy mix and ambitious targets for energy efficiency, renewables and building renovation."

S&D spokesperson on energy and industry Dan Nica said: “The vote on security of gas supply regulation represents a step forward for the Energy Union and shows the commitment we have for increased energy security.

“As we approach winter, it is also a signal to our citizens that the EU will soon act as a single energy player. We need to show to member states that are highly dependent on countries like Russia for their gas supply that in case of any crisis we will show energy solidarity and act collectively.

“We need more regional cooperation and emergency plans to ensure the proper and continuous functioning of the internal market in natural gas.

“It is the responsibility of all member states to show solidarity towards the Energy Community in emergency cases and ensure that the most vulnerable people and services are protected.”

Electricity interconnectivity

Commission approves €400 million Danish aid scheme to support production of electricity from renewable energy sources

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The European Commission has approved, under EU state aid rules, a Danish aid scheme to support electricity production from renewable sources. The measure will help Denmark reach its renewable energy targets without unduly distorting competition and will contribute to the European objective of achieving climate neutrality by 2050. Denmark notified the Commission of its intention to introduce a new scheme to support electricity produced from renewable energy sources, namely onshore wind turbines, offshore wind turbines, wave power plants, hydroelectric power plants and solar PV.

The aid will be awarded through a competitive tendering procedure organised in 2021-2024 and will take the form of a two-way contract-for-difference premium.. The measure has a total maximum budget of approximately €400 million (DKK 3 billion). The scheme is open until 2024 and aid can be paid out for a maximum of 20 years after the renewable electricity is connected to the grid. The Commission assessed the measure under EU state aid rules, in particular the 2014 Guidelines on state aid for environmental protection and energy.

On this basis, the Commission concluded that the Danish scheme is in line with EU state aid rules, as it will facilitate the development of renewable electricity production from various technologies in Denmark and reduce greenhouse gas emissions, in line with the European Green Deal and without unduly distorting competition.

Executive Vice President Margrethe Vestager, in charge of competition policy (pictured), said: “This Danish scheme will contribute to substantial reductions in greenhouse emissions, supporting the objectives of the Green Deal. It will provide important support to a wide range of technologies generating renewable electricity, in line with EU rules. The wide eligibility criteria and the selection of the beneficiaries through a competitive bidding process will ensure the best value for taxpayers money and will minimise possible distortions of competition.”

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Kazakhstan will continue to increase oil production under OPEC+ agreement

Astana Times

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Kazakhstan will continue to increase oil production in May, June and July of 2021 following the 15th meeting of OPEC (Organisation of the Petroleum Exporting Countries) and non-OPEC ministers meeting that took place virtually, the Kazakh Ministry of Energy press service reported, writes Abira Kuandyk in Business.   

“On 1 April, a ministerial meeting of the countries participating in the OPEC+ agreement took place. Collectively countries decided to increase the current production level of OPEC+ countries by 350,000 barrels per day in May and June and by 450,000 barrels per day in July,” said the Kazakh Ministry of Energy in a press statement. 

Kazakhstan’s obligation under the OPEC+ agreement states that oil production will amount to 1.46 million barrels per day for May and June and 1.47 million barrels per day for July. 

The data on the trading platform illustrates that the cost of Brent crude oil has risen in price by almost 3.6 percent and rose to US$65 per barrel. 

The Meeting welcomed the positive performance of participating countries. “Overall conformity reached 115 per cent in February 2021, reinforcing the trend of aggregate high conformity by participating countries,” said OPEC in a press statement.  

On 4 March, Kazakh Energy Minister Nurlan Nogayev participated in the 14th meeting of OPEC and non-OPEC ministers after which Kazakhstan and Russia were allowed to increase oil production to 20,000 barrels per day and 130,000 barrels per day, respectively, in April. 

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Azerbaijan unearths first gas condensate in Shafag-Asiman

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Azerbaijan’s SOCAR has made the first gas condensate discovery in Shafag-Asiman fields, the company reported.

According to the statement: “As we reached a depth of 7,189 metres in an exploration well drilled in the Shafag-Asiman block, part of the Azerbaijani sector of the Caspian Sea, the first gas condensate was found. That meant the successful completion of the drilling of the Fasila formation in the gas field. At the same time, to fully grasp the extent and size of the reserves, appropriate technical design will be needed to drill an extra lateral appraisal well towards the structure’s arch.”

Exploration at the Shafag-Asiman block is underway as part of the SOCAR-BP venture. In accordance with the Production Sharing Agreement (PSA), the well was drilled by BP at a depth of 623 meters, using the Heydar Aliyev semi-submersible rig operated by the Caspian Drilling Company (CDC). The drilling kicked off on January 11, 2020.

Shafag-Asiman, a complex of offshore geological structures that was discovered in 1961, lies 125km south-east of Baku and covers an area of 1,100 square meters. Here the water depth ranges from 650 to 800 meters. On October 7, 2010, SOCAR and BP entered into a 30-year agreement on exploration, development and production sharing of the Shafag-Asiman offshore block in the Azerbaijani sector of the Caspian Sea. Under the contract, BP conducted a 3D seismic survey at the Shafag-Asiman block in 2012. Having examined the data, the two partners identified the location of the first exploration well and spudded it in 2020.

SOCAR is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to the industry and the public in Azerbaijan.

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