Daily Archives: May 11, 2011

Kiran Stacey

Last month, Vestas launched its new 7MW offshore wind turbine to great fanfare. At the top of London’s South Bank Centre, accompanied by a flashy video and models of the turbine for every attendee, we were told that this was the future of offshore wind power.

This was an obvious pitch to developers hoping to build under the upcoming third round of leasing of the UK’s seabed for offshore wind farms. The only problem was that the company hadn’t got very far with it – no prototype had been built and no location had been set for its manufacture.

Kiran Stacey

Nuclear towerA global backlash against nuclear power in the wake of the Fukushima crisis would lead to higher prices, less energy security and higher carbon emissions, according to Fatih Birol, chief economist at the International Energy Agency.

Birol was speaking as part of the FT’s weekly energy podcast, and told us that if countries around the world scaled back their nuclear ambitions, it would be highly damaging.

Energy use in non-OECD Asia, led by China and India, is growing faster than anywhere else in the world – it will more than double between 1990 and 2035,  according to a report by the US Energy Information Administration published in April.

But how will India deal with escalating demand? A separate report by Bernstein Research, a US asset management company, suggests it will struggle to do so, as price-capping measures stifle private investment in natural gas.

India’s imports of natural gas are set to grow by 139 per cent in the next five years from 1.4m cubic metres per hour in 2010 to 3.4m cubic metres per hour by 2015, according to J P Morgan. The bank says Indian production will grow by 90 per cent over the same period, leaving the country with a natural gas shortage.

FT Energy Source

Japan nuclear expansion plans abandoned – The Guardian

German panel to endorse closing nuclear plants – Reuters

- Shell resurrects Alaska drilling plans – FT

- Shrinking oil supplies put Alaskan pipeline at risk – WSJ

BP gets final approval to buy Brazilian oilfields – FT

- Protests over Chile’s hydroelectric project – FT

- Government’s climate adviser steps into carbon budget row – The Guardian

- YPF makes second shale oil discovery – FT

Australia cuts more funding for CCS programmes – Argus

- French lean towards fracking ban – NY Times

- France pushes for increased CO2 regulation in Europe – Argus

- China opposes EU move to curb airline emissions – Reuters

- Pertamina and Cnooc at loggerheads – FT

- Eon profit holds steady – WSJ

- BG Group seeks permission to export LNG – FT

- BG profits hit by North Sea tax hike – The Telegraph

- BG production cut amid spate of headwinds – FT

- Windfall taxes damaging the economy, Osborne told – The Times

- Floods set to force up price of petrol – FT

- Top oil  execs to appear before Senate to discuss tax breaks – WSJ

- SSE found guilty of misleading on sales – FT

- Key moment for ‘green deal’ – The Guardian

- Historic dockyard to build world’s biggest wind turbines – The Times

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