Andreas Sieber’s Post

The agreement does say that the transition will happen in a ‘just and equitable manner’. That could mean different countries have different timelines to change their ways. For instance, a country like Nigeria is still heavily dependent on its oil reserves — 60% of revenues come from fossil fuels. That’s what keeps the economy chugging. And it still has a vast amount of untapped crude and gas reserves under its lands. It will want to exploit these. On the other hand, a rich country like the US might be expected to stop exploration of new oil reserves immediately. We'll have to wait and see if that's what will happen. And maybe the balancing effect can help halve emissions by 2030. So yeah, getting the F-word into the agreement is definitely historic. And it could well signal the official beginning of the end of fossil fuels. #fossilfuels #climatechange #carbonemissions #cleanfuel

TotalEnergies Lifts Namibian Stakes in Boost for Oil Development - Financial Post: TotalEnergies Lifts Namibian Stakes in Boost for Oil Development  Financial Post

🌟 In the News: COP28 opens with aggressive anti-methane stance, and will the tide turn on LNG? 🌟 🔍 Global LNG Insights: Delve into the latest trends and breakthroughs in the LNG industry, exploring key markets and countries at the forefront of LNG development. 📝 Article Highlights: LNG-fuelled ships could come under greater scrutiny following yesterday’s Cop28 comments on methane by US envoy for the climate, John Kerry. 🔗 Discover More: [Deep Dive: https://lnkd.in/gzT89jgU] – Stay updated with our comprehensive news coverage on LNG markets from across the globe. 🌐 Visit our news hub for more insights: https://lnkd.in/gvCrX7kR #LNG #Energy #GlobalMarkets #Sustainability #Innovation #LNGTechnology #USA #Australia #Qatar #Russia #Japan #China #LNGCluster #EnergyTransition

🌟 In the News: COP28 opens with aggressive anti-methane stance, and will the tide turn on LNG? 🌟 🔍 Global LNG Insights: Delve into the latest trends and breakthroughs in the LNG industry, exploring key markets and countries at the forefront of LNG development. 📝 Article Highlights: LNG-fuelled ships could come under greater scrutiny following yesterday’s Cop28 comments on methane by US envoy for the climate, John Kerry. 🔗 Discover More: [Deep Dive: https://lnkd.in/gzT89jgU] – Stay updated with our comprehensive news coverage on LNG markets from across the globe. 🌐 Visit our news hub for more insights: https://lnkd.in/gvCrX7kR #LNG #Energy #GlobalMarkets #Sustainability #Innovation #LNGTechnology #USA #Australia #Qatar #Russia #Japan #China #LNGCluster #EnergyTransition

🌟 In the News: COP28 opens with aggressive anti-methane stance, and will the tide turn on LNG? 🌟 🔍 Global LNG Insights: Delve into the latest trends and breakthroughs in the LNG industry, exploring key markets and countries at the forefront of LNG development. 📝 Article Highlights: LNG-fuelled ships could come under greater scrutiny following yesterday’s Cop28 comments on methane by US envoy for the climate, John Kerry. 🔗 Discover More: [Deep Dive: https://lnkd.in/gC7hGSFV] – Stay updated with our comprehensive news coverage on LNG markets from across the globe. 🌐 Visit our news hub for more insights: https://lnkd.in/grCFA2SN #LNG #Energy #GlobalMarkets #Sustainability #Innovation #LNGTechnology #USA #Australia #Qatar #Russia #Japan #China #LNGCluster #EnergyTransition

Amid COP28 UAE negotiations involving nearly 200 countries, the debate swirls around phasing out fossil fuels versus leveraging carbon capture and storage (CCS) technology. Governments are offering subsidies, but the effectiveness remains uncertain. In the US, despite substantial investment in CCS projects, operational success is limited due to regulatory and logistical challenges. Ethanol factories in the Midwest face pipeline hurdles, leading to project cancellations. Globally, CCS deployment hurdles persist, evident in projects like Chevron's Gorgon in Australia and the Texas-based Century, the world's largest CCS project, facing capacity and economic issues. Experts emphasize the immediate need for profitable technologies like solar and wind, cautioning against overreliance on CCS and hydrogen. #CarbonCapture #Sustainability

According to the Financial Times this morning, Shell and TotalEnergies are stepping up oil exploration in Namibia 😳 The two European oil majors are investing heavily in a potentially giant oilfield off the coast of Namibia. Shell has received approval to drill 10 more wells, TotalEnergies will spend $300mn in the country this year 💰. The field is estimated to hold more than 3bn barrels of oil ⛽️, which would make it the eighth biggest oil discovery in the world since 2000 🌎. As everyone knows the IPCC has stated last year that there is no room for new oil exploration if we are to limit global warming to 1.5°C 🌡️. Sigh. #juststopoil (source: https://lnkd.in/eJe5Xmnb)

‘Last year, the oil and gas industry across the world banked about $4tn…It is 40 times the $100bn-a-year target for the global south that was pledged in 2009 for 2020 but never reached. ‘$25bn global windfall levy on oil and gas profits, paid by the richest petrostates, would amount to less than 1% of global oil and gas revenues and only 3% of the export earnings of these major producers. ‘$25bn global windfall levy could also be the trigger for historical and current emitters to contribute their share of the $1tn a year now required to meet the climate and development needs of the global south’ #polluterspay #climatejustice

To see a movement that at first appeared impossible grow from zero to 21 government signatories is amazing. For those of you who don't know it, the Beyond Oil and Gas Alliance (BOGA) is about managing a just and orderly phase out of oil and gas (in addition to coal of course) with both the speed we need and the attention to fairness for countries with less capacity to manage the transition of their industries. BOGA is a brave initiative. It began with a flurry of zoom calls under lockdown in 2020 with the idea that a small group of only the highest ambition first movers would join. This picture was from their press conference on Tuesday at #cop28uae which welcomed new members, including #Spain #Samoa #Colombia and #Kenya. The latter two are the first recipients of the BOGA Fund to enable planning for moving beyond oil and gas. Whether it is 'phase down' or 'out' that makes it into the COP text, this is a long journey. As it stands, oil and gas make the world go round, accounting for 55% of our total energy consumption and about 40% of total human-caused GHG emissions. Many economies are highly dependent on the industry and its exports while the global economy itself is intertwined with and strongly influenced by fluctuations in oil trade. Change is never easy. It requires visionary leaders, sound research, cooperation and a helluva lot of diplomacy. And in that regard, huge respect to Dan Jørgensen Andrea Meza Tomas Anker Christensen Sian Bradley Alache Fisho Rabab Fayad Louise Burrows and the many more who made it happen.

The scale of oil and gas influence in Dubai is unprecedented, with almost four times as many industry-affiliated lobbyists than the number registered for Cop27 in Sharm el-sheikh – which itself was a record year. Fossil fuel lobbyists vying to push the interests of oil and gas companies such as Shell, Total and ExxonMobil outnumber official Indigenous representatives by seven to one – another sign, say campaigners, that oil and gas industry profits are being prioritised over a sustainable planet and frontline communities. https://lnkd.in/dFtctui8