Hydrogen ‘bank’ could bring storage at scale to UK North Sea
Aberdeen University is working on a project where hydrogen could be “banked” in depleted oil and gas reservoirs in the UK North Sea.
storage
India mulls plan to keep old power plants running for longer
India is discussing a plan to keep old power stations running for longer, arguing that they’re needed to meet demand until enough energy storage can be built.
Shell explores carbon transport and storage in Singapore and Brunei
Shell (LON:SHEL) said today that it is exploring the feasibility of carbon transport and storage options for Brunei and Singapore. Significantly, this could potentially form part of a carbon capture and storage (CCS) hub in Southeast Asia.
China may need to rebuild its oil stockpiles, says Vitol
Oil prices, already up around 20% this year, could be boosted by China potentially replenishing its inventories and financial investors increasing their long positions, according to Vitol Group.
Dwindling OPEC+ spare capacity sets oil up for sizzling summer
As they strain to restore oil production, OPEC and its allies are being left with a diminishing buffer of spare supplies -- potentially setting up crude prices for a sizzling summer.
Linde studies carbon dioxide liquefaction and storage with Singapore LNG
Singapore LNG (SLNG) and Linde have signed a memorandum of understanding to collaboratively explore the feasibility and development of a carbon dioxide (CO2) liquefaction and storage facility in what could be a first in Asia.
TotalEnergies seals LNG storage deal in Indonesia with Pertamina
TotalEnergies will use two storage tanks at the Arun liquefied natural gas (LNG) regasification and receiving terminal in Indonesia after signing an agreement with Pertamina.
Without further delay, we need storage capacity to back up renewables growth
Twenty years ago, I pointed out that we were heading towards 80% of our electricity being generated from gas within two decades and 80% of that gas coming from Russia. It was true at the time.
Sinopec builds China’s first large CCS project
China’s Sinopec has started building the country’s first large-scale carbon capture utilisation and storage (CCUS) project as part of its target to be carbon-neutral by 2050.
Repsol eyes giant carbon storage scheme in Indonesia
Repsol is studying the potential of a giant geological carbon capture and storage project in Sakakemang in Indonesia.
Wartsila helps bridge Philippines power crunch with floater
Technology group Wartsila will supply a flexible barge-mounted 54 MW / 32 MWh energy storage system to Therma Marine Inc (TMI) in the Philippines to help meet the country’s surging demand for electricity. It is billed as the first project of its kind in Southeast Asia.
China’s oil imports surge as Brent cracks $70
China’s crude oil imports surged 28% year-on-year to 12.35 million barrels per day (b/d) in February. This was 2.7 million b/d higher compared to the same period a year ago, the latest data from analytics firm OilX showed.
The long and winding road to recovery
In a recent article I described the mechanisms which drive the market structures of backwardation and contango, which explained how and why the market got into negative territory, with a steep contango forward curve. But having got there, how does that same understanding of market behaviour help us form a view of where we go from here?
IEA: short-term pain to balance out in second half
Actions taken by producer states under the OPEC+ banner, coupled with moving oil into storage, should see a stock draw of 4.7 million barrels per day in the second half of 2020, the International Energy Agency (IEA) has said in its recent Oil Market Report (OMR).
Supply deal should avert ‘uncontrolled dismantling’ of industry, Rystad says
The proposed 10 million bpd cut by OPEC+ for May and June will keep the world from physically testing the limits of storage capacity and save prices from falling into a deep abyss, but it will still not restore the desired market balance. Just hours before delegates stepped into the (again virtual) closed meeting, Brent was fluttering in the mid-$30s, seemingly oblivious to the fact that even if a 10 million bpd cut is agreed upon, or even in the best-case scenario 15 million bpd if the US, Canada, Norway and Brazil join forces, an excess of supply of the magnitude of 5-10 million bpd will remain, and will need to be stored.
UK market sending out ‘strong economic signals’ for more gas storage
Two years after the U.K.’s largest natural gas storage site slipped into retirement, demand for new places to keep the fuel is ratcheting up.
Giant battery planned to balance the UK power grid
Statkraft AS joined with Statera Energy to build 1 gigawatt of storage in the U.K. with a backup generator fueled by natural gas, part of an effort to profit from the nation’s need to balance its power grid.
UK Gov stumps up £20m to crack electricity storage challenge
A £20 million competition has been launched to give a boost to innovative ways of storing electricity, the Government has said.
We’ve got the power, let’s think how to store it
The year ended with exciting headlines about wind power having generated more than 100% of Scotland’s electricity requirements on 20 out of 30 days in November.
OPINION: Time to take pumped storage hydro seriously
There’s no mystery about the biggest problem with wind power. It is, quite simply, that the wind does not always blow and when it doesn’t, other sources of generation have to be available to provide the back-up.
Battery startup gets funding to develop cobalt-free products
Conamix, an Ithaca, New York-based battery-technology startup, raised $2 million from investors including an Exelon Corp.-backed company focused on innovations in energy storage.
Disused slate quarries to be used for power storage
A scheme which will use two disused slate quarries on the edge of Snowdonia as reservoirs for power storage has been given the go-ahead by the Government.
Oil tankers used to store millions of barrels as land sites fill
Oil companies booked tankers to store as many as 9 million barrels of crude in northwest Europe amid signs that space in on-land depots is filling up, a ship-operator said. The glut could get bigger still, given the region is scheduled to load the most cargoes in 4 1/2 years next month.
Oil traders see glimmer of profit ahead in storing crude at sea
Oil traders once again believe it’s worth heading out to sea.
IEA chief calls for greater partnership with China
The new head of the International Energy Agency (IEA) said there needed to be greater partnership between the organisation and China. Fatih Birol made the comments on his first visit to the world's largest energy consumer. Birol, who took up his new post earlier this month, told an audience of Chinese officials and foreign diplomats in Beijing that one of his top priorities in the role will be to strengthen ties with the company.