Publication Of BP’s Statistical Review

In June, BP published its 63rd Annual Statistical Review of World Energy. The report shows that the year 2013 saw an acceleration in the growth of global energy consumption, despite a stagnant global economy. Oil remains the world’s leading fuel, with 32.9% of global energy consumption, but it also continued to lose market share for the fourteenth consecutive year. Globally, natural gas accounted for 23.7% of primary energy consumption. Coal’s share of global primary energy consumption reached 30.1%, the highest since 1970. Nuclear output accounted for 4.4% of global energy consumption, the smallest share since 1984. The data in this review shows a flexible global energy system adapting to a changing world. To view the report please click here.

Italian Presidency Of The Council Of The European Union

In July, Italy took on the rotating Presidency of the European Council until December 2014. Italy’s energy priorities will be to reach an agreement on the EU 2030 climate and energy policies framework, to address energy supply security and to make progress on the Medium Combustion Plant (MCP) Directive.

Alstom Board Chooses GE Offer

On 21 July, GE informed that the Alstom Board of Directors has unanimously decided to positively recommend GE’s offer to acquire the Power and Grid businesses of Alstom.

Potential Energy Efficiency Binding Target For 2030

The EU’s energy commissioner, Günther Oettinger, has called for a new legally-binding proposal this autumn to cut energy use by 2030, as a way of cutting Europe’s dependence on Russia for a third of its oil, and 39% of its gas supplies. Back in January 2014, the European Commission (EC) proposed a binding 40% greenhouse gas reduction objective compared to 1990 level and an EU-wide target of 27% for renewables by 2030. However, the EC did not include a target on energy efficiency as it would be implemented through the Energy Efficiency Directive, which is set to be reviewed in June 2014. The energy efficiency level target the EC is currently considering and whether the target would be binding on EU or national level is still unknown. For more information, please click here.

Joint Venture Between The Gas Turbine Services (GTS) Business Of Wood Group And The Siemens Energy Service TurboCare Business Unit.

To view the press release, please click here.

Siemens To Acquire The Rolls-Royce Energy Gas Turbine And Compressor Business And Enter Into A Long-Term Technology Partnership

To view the press release, please click here.

Sale Of 40% Of Ansaldo Energia To FSI-Shanghai Electric And Establishment Of Joint Ventures In China

To view the press release, please click here.

Draft Carbon Leakage List Published By The European Commission

On 5 May, the European Commission sent a draft proposal for a 2015-2019 carbon leakage list to the EU Climate Change Committee. In its draft, the EC proposed that 175 industry sectors out of the 245 in total should be entitled to get most of their allowances for free over 2015-2019 to help them meet obligations under the EU’s Emissions Trading System (ETS).

European Parliament’s Committee Approve 2018 Carbon Market Reform

On 24 February, a draft law to reform the EU Emission Trading Scheme (ETS), aimed at reducing the surplus of carbon credits available for trading in order to artificially boost the price, was backed by Environment Committee (ENVI) members in a vote. The MEPs were in favor of introducing early the mechanism known as MSR (Market Stability Reserve), by the end of 2018, three years earlier than the European Commission’s proposal.

he European Commission Published 2030 Climate And Energy Goals

The European Commission today published first proposals on its 2030 energy and climate policy framework. In particular, the Commission proposed a binding greenhouse gas reduction target of 40% and a renewables target of 27%. The Commission also published draft legislation for structural reforms of the Emissions Trading Scheme (ETS).