Our planet is facing a triple crisis of climate, nature, and pollution, with one common cause: the fossil-fuel economy. Oil, gas, and coal are at the root of runaway climate disruption, widespread biodiversity loss, and pervasive plastic pollution. The conclusion is clear and must be paramount when political leaders gather in Stockholm this week to commemorate the 50th anniversary of the first United Nations Conference on the Human Environment. Any effort to address these existential threats to human and ecological health will mean little as long as the fossil-fuel economy remains intact.
As UN Secretary-General António Guterres recently noted, fossil fuels are choking our planet. In the last decade, their combustion accounted for 86% of global carbon dioxide emissions, for which just a few actors bear overwhelming responsibility. In fact, nearly two-thirds of all CO2 emitted since the Industrial Revolution can be traced to just 90 polluters, mostly the largest fossil-fuel producers.
Yet, rather than reining in the polluters, the world’s governments are currently planning to allow more than twice as much fossil-fuel production in 2030 than would be consistent with the goal – agreed under the 2015 Paris climate agreement – of limiting global warming to 1.5C above pre-industrial levels. And when it comes to the damage wrought by fossil fuels, higher global temperatures and intensifying extreme weather events are only the beginning.
Last year, the UN Special Rapporteur on Toxics and Human Rights, Marcos A Orellana, affirmed what frontline communities have long known: fossil-fuel production generates toxic compounds and pollutes air, water, and soil. Air pollution from burning fossil fuels was responsible for about one in five deaths worldwide in 2018. Moreover, oil and gas are the building blocks of the toxic chemicals, pesticides, and synthetic fertilisers that are pushing ecosystems and species to extinction. These fossil-fuel-based products perpetuate an economic and agro-industrial model that drives deforestation, destroys biodiversity, and threatens human health.
Fossil fuels are also behind the proliferation of plastics, which are accumulating in even the most remote areas of the planet, from the top of Mount Everest to the bottom of the Mariana Trench. Ninety-nine percent of all plastics are made from chemicals derived from fossil fuels, predominantly oil and gas. The production of petrochemical feedstocks for plastics and the use of fossil fuels throughout the plastics value chain are boosting demand for oil and gas and exposing millions of people to toxic pollution.
As if that were not enough, fossil fuels foment and fund violent conflict around the world. The fossil-fuel economy is enabling Russian President Vladimir Putin’s war in Ukraine and the humanitarian crisis it has created. In the seven years after Russia illegally annexed Crimea, eight of the world’s biggest fossil-fuel companies enriched Russia’s government by an estimated $95.4bn. Russia’s revenues from energy exports have soared since the invasion of Ukraine in February, which drove up prices. And big Western oil companies, cashing in on the conflict, have raked in record profits.
Instead of facing accountability, the oil and gas industry and its allies are exploiting the Ukraine crisis to push for even more drilling, fracking, and exports of liquefied natural gas (LNG) all around the world. But new fossil-fuel infrastructure, which will take years to bring online, will do nothing to address the current energy crisis. Instead, it will only deepen the world’s dependence on fossil fuels, enhance producers’ ability to wreak havoc on people and the planet, and push a climate-safe future further out of reach.
As world leaders gather for Stockholm+50, breaking our addiction to fossil fuels should be the top priority. Yet fossil fuels are conspicuously absent from the official concept note and agenda, and they are barely mentioned in the background papers of the three Leadership Dialogues that are supposed to inform the summit’s outcome.
This omission is no accident. The fossil-fuel lobby has decades of experience sowing doubt about the damage the industry is causing and obscuring the link between fossil fuels and the toxic chemicals used in industrial agriculture and plastic products. When outright denial has not worked, the industry has touted false solutions, including speculative technological fixes, market mechanisms with gigantic loopholes, and misleading “net-zero” pledges. The goal is to divert political attention from the urgent action needed to end reliance on fossil fuels and scale-up proven approaches, like renewable energy, agroecology, and plastic reduction and reuse.
Such transformative action is precisely what Stockholm+50 must deliver. Participating governments and decision-makers must acknowledge that fossil fuels are the main driver of the triple crisis we face, and they must set a bold agenda for halting fossil-fuel expansion, ensuring a rapid and equitable decline of oil, gas, and coal, and accelerating a just transition to a fossil-free future.
One possible feature of such an agenda would be a Fossil Fuel Non-Proliferation Treaty – an initiative that has attracted wide support, including from thousands of civil-society organisations, hundreds of scientists and parliamentarians, more than 100 Nobel laureates, and dozens of municipal governments. To spur progress, a broad range of stakeholders – including representatives of indigenous communities, governments, international institutions, and academia – will gather the day before Stockholm+50 for the Pre-Summit on the Global Just Transition from Fossil Fuels.
In parallel with the Stockholm meeting, an intergovernmental negotiating committee, convened by the UN Environment Programme, is gathering in Dakar to develop a legally binding global plastics treaty. Crucially, the treaty will have to take a comprehensive approach that addresses the full plastic life cycle, beginning with fossil-fuel extraction.
If we have learned one thing in the 50 years since the first Stockholm conference, it is that a future tied to fossil fuels is no future at all. To tackle the converging crises of climate change, biodiversity loss, and petrochemical and plastic pollution, Stockholm+50 has no alternative but to confront oil, gas, and coal head-on. — Project Syndicate

• Nikki Reisch is Director of the Climate and Energy Program at the Center for International Environmental Law.
• Lili Fuhr is Deputy Director of the Climate and Energy Program at the Center for International Environmental Law.

Saudi Arabia will hold billions of dollars from its oil windfall in a government current account until the end of the year, when it will decide how to distribute it – marking a shift in its strategy from previous boom periods.
In the past, higher oil prices and output would quickly translate into rising foreign reserves and deposits in local banks, and often lead to a swift boost in government spending.
This time, the government won’t spend the money until it’s rebuilt reserves depleted during eight years of subdued oil prices. It could then use some of the cash to repay debts and pour it into state investment vehicles, including the powerful Public Investment Fund (PIF) and the National Development Fund, which focuses on domestic infrastructure.
“The surplus achieved in Q1 is shown in the government current account and has not yet been deposited to government reserves nor transferred to other groups,” Finance Minister Mohamed al-Jadaan said in a statement to Bloomberg. “This allocation will occur after the surplus is realized, which means after the closing of the fiscal year.”
The government’s current account held at the central bank rose by 70bn riyals ($19bn) in the first quarter of the year, when Saudi Arabia reported a $15bn budget surplus.
The finance ministry’s comments solve a mystery that had stumped some analysts covering Saudi Arabia; they were waiting to find out where those billions of dollars would show up.
The world’s largest crude exporter has seen revenues soar on the back of $100 oil and rising production. Oil gross domestic product is expected to grow 19% this year, al-Jadaan said at the World Economic Forum in Davos, Switzerland.
If crude prices remain that high, Saudi Arabia’s total oil exports are estimated to reach $287bn this year, according to Ziad Daoud, chief emerging markets economist at Bloomberg Economics.
Officials had previously said that much of the extra money would be used to accelerate efforts to diversify the economy away from oil – currently Saudi Arabia’s main source of income.
“The windfall from the additional revenues that we will get from high oil prices will be essentially invested in resilience,” Faisal Alibrahim, Minister of Economy and Planning, told Bloomberg in an interview at Davos. “Whether it’s replenishing reserves, paying off debt or investing in unique transformational projects through our wealth fund, that really helps us accelerate the diversification plans.”
The kingdom’s $600bn sovereign wealth fund, the PIF, is at the heart of Prince Mohamed bin Salman’s plan to overhaul the economy and invest in new non-oil industries like tourism.
It owns most of the kingdom’s mega-projects, including Neom – a $500bn new city – as well as tourism developments on the Red Sea coast and a massive entertainment complex planned near Riyadh.
“The responsibility of boosting growth has shifted to state-owned entities ex-budget, led by PIF,” Mohamed Abu Basha, head of macroeconomic research at Egyptian investment bank EFG Hermes, wrote in a note. That leaves “the transmission of high oil prices to the economy more indirect than at any time in history.”
Reserves jumped in March, supported by dividend payments from oil giant Aramco. But the increase was smaller than it was in the same period last year, when oil prices averaged above $60 a barrel.
One part of the economy that hasn’t benefited is the domestic banking system. In the past high oil prices would mean an influx of cheap deposits into the Saudi banks, helping to keep local currency lending rates low.
Yet Saudi banks are facing the tightest liquidity conditions since 2016, as measured by the three-month Saudi Interbank Offered Rate, or SAIBOR, despite soaring oil prices. It took off even before an overall 75 basis-point interest rate hike by the US Federal Reserve so far this year.
“The increase in SAIBOR rates reflects some of the lag between the surge in oil prices and the domestic liquidity boost,” said Carla Slim, economist at Standard Chartered Plc. “Excess liquidity in the banking system, as measured by volumes deposited in Saudi Arabian Monetary Authority’s reverse repo facility, has contracted sharply.”
The finance ministry said in its statement that money supply was ample.

Bloomberg

Sweden, known for its long dark winters with barely any daylight, is seeing a solar power boom.
Harnessing whatever sunshine the country gets is emerging as the quickest solution to fill part of the void left by two closed nuclear reactors in southern Sweden, where the biggest cities and industries are located. With shortages piling up in the region and consumers keen to secure green energy at stable prices, solar is quickly catching up with wind as developers put panels on rooftops and underutilised land in populated areas.
While the lack of sunlight is a hindrance, every bit of new electricity capacity will lower imports from Europe where prices are more than three times higher than in the rest of Sweden. Projects are also getting built quickly because developers are directly getting into power sales deals with consumers and aren’t dependent on government support, said Harald Overholm, CEO of Alight AB, which started Sweden’s biggest solar plant this month.
Companies are targeting a quick ramp-up, pushing total capacity in the country to 2 gigawatt this year. That’s more than the two nuclear reactors in Ringhals that were halted in 2020, and will close the gap with Denmark, an early mover in the industry in the region.
“We are very good at creating contracts directly with commercial partners that use power, and that is what drives our development,” said Harald Overholm, CEO of Alight.
The past winter has demonstrated the hole left behind by the two atomic reactors, with the government facing the task of resolving a divergent market. While vast hydro and wind projects have kept the cost of electricity in the sparsely populated north in check, a lack of generating capacity and congested grids have forced the south at times to import power.

Rome (AFP) – After a tycoon bromance, Italy’s Silvio Berlusconi is struggling to break up with Russia’s Vladimir Putin over the Ukraine war — like many in his country, where ties with Moscow run deep.

The billionaire former premier’s unwillingness to speak ill of Putin is echoed by other leading Italian politicians, while in the media, there are concerns that pro-Russian sentiment has warped into propaganda.

Prime Minister Mario Draghi is committed to NATO and the EU, strongly backing sanctions against Moscow, and at his urging a majority of Italy’s MPs approved sending weapons to help Ukraine defend itself.

But much of Draghi’s coalition government — Berlusconi’s Forza Italia, Matteo Salvini’s League and the once anti-establishment Five Star Movement (M5S) — has long pursued a “special relationship” with Moscow.

Italy used to have the largest Communist party in the West, and many businesses invested in the Soviet Union in the 1960s, while Russians in turn sought opportunities here.

Barely a month before the February 24 invasion, Putin spent two hours addressing top Italian executives at a virtual meeting.

Beds, hats, parties

Berlusconi, 85, has been out of office for more than a decade but remains influential both in politics and through his media interests, as founder of the Mediaset empire.

He was an ardent admirer of the Russian leader, and a close chum — they stayed in each other’s holiday homes, skied together and were snapped sporting giant fur hats.

“They were two autocrats who mutually reinforced their image: power, physical prowess, bravado, glitz,” historian and Berlusconi author Antonio Gibelli told AFP.

Putin gave Berlusconi a four-poster bed, in which the Italian had sex with an escort in 2008, according to her tell-all book. He in turn gave Putin, 69, a duvet cover featuring a life-sized image of the two men.

In the months before the Ukraine war, Berlusconi continued to promote his close ties, including a “long and friendly” New Year’s Eve phone call.

It was not until April, two months after Russia’s invasion, that he publicly criticised the conflict, saying he was “disappointed and saddened” by Putin.

He has struggled to stay on message since then.

Speaking off the cuff in Naples last week, he said he thought “Europe should… try to persuade Ukraine to accept Putin’s demands”, before backtracking and issuing a statement in Kyiv’s support.

“Breaking the twinning with Putin costs Berlusconi dearly: he has to give up a part of his image,” Gibelli said.

Meanwhile, the leader of the anti-immigration League, Salvini, who has proudly posed in Putin T-shirts in the past, has argued against sending weapons to aid Ukraine.

The League did condemn Russia’s military aggression, “no ifs and no buts”, on February 24 when Russia invaded.

But an investigation by the L’Espresso magazine earlier this week found that, in the over 600 messages posted by Salvini on social media since Russia invaded, he had not once mentioned Putin by name.

He did so for the first time on Thursday, saying “dialogue” with Putin was good, and encouraging a diplomatic end to the war.

‘Biased media’

Many pro-Russian figures are given significant airtime in the media, which itself is highly politicised.

“Italy is a G7 country with an incredibly biased media landscape,” Francesco Galietti, founder of risk consultancy Policy Sonar, told AFP.

TV talk shows are hugely popular in Italy, and “one of the main formats of information” for much of the public, notes Roberta Carlini, a researcher at the Centre for Media Pluralism and Media Freedom at the European University Institute.

But she warns they often “obscure facts”.

Italy’s state broadcaster RAI is being investigated by a parliamentary security committee for alleged “disinformation”, amid complaints over the frequent presence of Russian guests on talks shows.

Commercial giant Mediaset is also in hot water after airing an interview with Russia’s Foreign Minister Sergei Lavrov in which highly polemical claims went unchallenged.

It defended the interview, saying good journalism meant listening to “even the most controversial and divisive” opinions.

“RAI is a reflection of the political landscape, with its many pro-Russian parties. And Mediaset… well, Berlusconi is an old pal of Putin’s, so what do you expect?” Galietti said.

He also points to a decades-long culture in Italy of allowing conspiracy theories — particularly on the interference of US spies in Italian politics — to circulate in the media unchallenged.

“You end up with a situation where Russia Today (RT) is considered as authoritative as the BBC,” he said.

© 2022 AFP

Food price increases are having devastating effects on the poorest and most vulnerable around the world.
People most impacted by higher food prices live in the developing world, where a larger percentage of incomes is spent on food.
Global food prices started to rise in mid-2020 when businesses shut down due to the Covid-19 pandemic, straining supply chains.
The pandemic has had effects on global supply chains. In the early phase, lockdowns and mobility restrictions led to severe disruptions in various supply chains, causing supply shortages.
Farmers dumped out milk and let fruits and vegetables rot due to a lack of available truckers to transport goods to supermarkets, where prices spiked as consumers stockpiled food. A shortage of migrant labour was felt as lockdowns restricted movement across the world.
Since then, there have been problems with key crops in many parts of the world. Brazil, the world’s top soybean exporter, suffered from severe drought in 2021.
China’s wheat crop has been among the worst ever this year. Concerns about food security, heightened during the pandemic, have led some countries to hoard staples to ward off future shortages, limiting supplies on the global market.
Food prices have also jumped. Russia’s invasion of Ukraine in late February dramatically worsened the outlook for food prices.
According to the International Monetary Fund, the Russian invasion of Ukraine has led to rising energy and food prices, which will inevitably mean higher inflation globally. Both Russia and Ukraine are exporters of major commodities, and the disruptions from the war and sanctions have caused global prices to soar, especially for oil and natural gas.
Wheat prices are at record highs — Ukraine and Russia account for 30% of global wheat exports. These effects will lead inflation to persist longer than previously expected. The impact will likely be bigger for low-income countries and emerging markets, where food and energy are a larger share of consumption (as high as 50% in Africa).
The World Bank forecasts wheat prices could rise more than 40% in 2022. The Bank expects agricultural prices to fall in 2023 versus 2022. But that depends on increased crop supplies from Argentina, Brazil and the United States — by no means guaranteed.
The World Bank is working with countries on the preparation of $12bn of new projects for the next 15 months to respond to the food security crisis. These projects are expected to support agriculture, social protection to cushion the effects of higher food prices, and water and irrigation projects, with the majority of resources going to Africa and the Middle East, Eastern Europe and Central Asia, and South Asia.
In addition, the World Bank’s existing portfolio includes undisbursed balances of $18.7bn in projects with direct links to food and nutrition security issues, covering agriculture and natural resources, nutrition, social protection, and other sectors.
Altogether, this would amount to over $30bn available for implementation to address food insecurity over the next 15 months.
It is time countries made concerted efforts to increase the supply of energy and fertiliser, help farmers increase plantings and crop yields, remove policies that block exports and imports and ensure global food security.

qic.online allows customers to buy or renew their car, motorcycle, travel, home contents, boat & yacht, and personal accident insurance policies in just 2 minutes The new portal offers instant covers comparison and product recommendation to help customers better identify the right insurance plans that suit their needs.

Doha, Qatar – Sunday 29th May 2022: Qatar Insurance Company (QIC), the leading insurer in Qatar and the Mena region, has announced the launch of the first all-inclusive online portal, offering the fastest digital solution to buy and renew insurance policies in Qatar.

Developed with an innovative customer-centric approach, qic.online allows customers to buy their car, motorcycle, travel, home contents, boat & yacht, and personal accident policies in just 2 minutes, without any need to scan and submit paperwork, or to call or visit a QIC branch to complete the onboarding journey.

Available in both Arabic and English, the new insurance portal offers instant covers comparison, allowing customers to get complete information on policy types, in addition to product recommendation to help them better identify the right insurance covers that suit their driving, traveling, and living needs. The online portal also allows customers to compare policy prices and select their preferred payment plans, including paying their insurance premiums in monthly installments while enjoying enhanced security for payments made via debit and credit cards.

The portal’s engaging design and modern interface properly support all display types and devices, allowing both new and existing customers to experience a simplified and intuitive navigation during both the onboarding and renewal processes. Customers can also request instant assistance from QIC’s customer service at all stages of their onboarding journey via the ‘Ask us’ button and receive instant support from the QIC’s customer service team all weekdays and round the clock.

For existing QIC customers, the portal offers a dedicated page for insurance renewals in just a few clicks by only entering their QID or policy number, and without any need to type their details linked to the QIC database anew. qic.online also hosts other features allowing customers to have extra control on their insurance needs, including upgrading policies and online claims management.

Commenting on the new portal launch, Mr. Ahmed Al Jarboey, QIC’s Chief Operating Officer – Qatar operations, said: “We are happy to launch the first and fastest all-inclusive insurance portal in Qatar, and to become the only insurance company in the country that allows customers to buy insurance policies in just 2 minutes. qic.online is revolutionary at all levels, and it is certainly another significant step in our journey towards the full digitization of all our insurance products and services. We have achieved record levels of customers’ reliance on digital channels over the past few months thanks to our relentless investments in developing our digital capabilities in line with our digital transformation strategy, and I have no doubt that qic.online will now be the one-stop shop that will allow further segments of our customers to be in control of all their insurance needs the way the like and in just a few clicks.”

Qatar Insurance Company is a publicly listed composite insurer with a consistent performance history of over 57 years and a global underwriting footprint. Founded in 1964, QIC was the first domestic insurance company in the State of Qatar. Today, QIC is the market leader in Qatar and a dominant insurer in the GCC and MENA regions. QIC is also the largest insurance company in the MENA region by gross written premium, profitability and total assets. It is listed on the Qatar Stock Exchange and has a market capitalization in excess of QAR 7.8 billion.

MILAN, May 26 (Reuters) – Energy group Eni (ENI.MI) and Sonatrach signed a deal to accelerate the development of gas fields in Algeria and the development of green hydrogen, part of moves to increase the north African country’s gas exports towards Italy.

Italy, which last year sourced about 40% of its gas imports from Russia, has been scrambling to diversify its energy supply mix as the conflict in Ukraine escalates.

Algeria, Italy’s second-biggest gas supplier last year, has been pumping Algerian gas to Italian shores since 1983 through the Transmed pipeline, which runs to Sicily.

The gas production volumes expected from the areas covered by Thursday’s agreement are equal to some 3 billion cubic meters (bcm) per year and will contribute to increasing the export capacity of Algeria to Italy through the Transmed pipeline, Eni said.

The signing is part of the agreement reached by the two energy groups in April, when they announced they would gradually raise gas flows in the pipeline starting this year and reach 9 billion cubic metres (bcm) of extra gas per year by 2023-24.

The Memorandum of Understanding was signed in Rome by the top executives of the Italian and the Algerian groups in a ceremony witnessed by the President of Algeria Abdelmadjid Tebboune and Italian Prime Minister Mario Draghi.

Algeria’s gas exports to Italy climbed last year, jumping 76% to 21 billion cubic metres – 28% of overall consumption and second behind the 29 bcm from top supplier Russia.

The agreement will allow Sonatrach and Eni to evaluate the gas potential and opportunities for accelerated development at specific fields already discovered by Sonatrach in Algeria.

The Memorandum also covers the technical and economic evaluation for a green hydrogen pilot project in Bir Rebaa North (BRN) in the Algerian desert, with the goal of supporting the decarbonisation of the BRN gas plant operated by the SONATRACH-Eni GSE joint venture.

Eni is the main international energy company operating in Algeria, where it has been present since 1981.

In the race to cut Rome’s dependency from Russian gas, Italian ministers have tapped numerous countries like Congo Republic, Angola, Azerbaijan and Qatar.

Dr. Baroudi: “The war in Ukraine has exposed not only Europe’s dangerous over-reliance on natural gas and other energy imports from Russia, but also the extent to which disrupting that relationship could wreak havoc around the world. Ever since Moscow launched its invasion in late February, the European Union has been hesitant to impose sanctions on Russia’s energy industry because it lacks other alternatives, and it lacks those alternatives because of a years-long hesitance to maintain a sufficiently diverse basket of sources and suppliers. The continent also suffers from inadequate regasification capacity, which means it cannot fully replace piped gas from Russia with seaborne loads of LNG from other countries.

Mr. Baroudi highlighted that there are solutions for all of these problems, and some are already under way. “Europe could also bolster its energy security by helping to develop the increasingly promising gas fields of the Eastern Mediterranean, the output of which could then be linked by undersea and/or overland pipeline to the European mainland. The utility of these and other moves would also be significantly enhanced by building new storage facilities for both LNG and conventional gas, which would make Europe a lot more resistant to future supply disruptions,” said Mr. Baroudi.

But most importantly in the long term, Europe needs to seize the opportunity presented by the great potential for offshore wind energy in the Mediterranean, since making full use of this potential – just in the coastal waters – could generate at least some 500 MILLION megawatts of electricity: in other words, the same as the entire global nuclear industry”.

Full press release available here: https://lnkd.in/gUTi4zT6

Dr. Baroudi’s book available here: https://lnkd.in/gp8ePj2j

Αθήνα, 27.05.2022 – “Climate change and market instability are the two main parameters in recent years for the global energy market,” highlighted Mr. Roudi Baroudi, CEO of Energy & Environment Holding at his speech on the second day of the 10th Athens Energy Dialogues conference on May 26-27.

According to Mr. Baroudi the goal is a new energy mix that is both environmentally sustainable and economically viable.
Another crucial point is that reliability of cleaner and greener sources are not yet sufficient to fully meet demand, and getting there will require years of planning, investment, and construction. If we take existing technologies offline before newer ones can replace them, the resulting shortages will cause prices to spike, driving up the cost of living and causing whole economies to collapse. On the other hand, if we wait too long to decarbonize the global economy, climate change threatens to inflict even greater damage.

The Russian invasion to Ukraine has changed the geopolitical status quo, according to Mr. Baroudi.

The war in Ukraine, has exposed not only Europe’s dangerous over-reliance on natural gas and other energy imports from Russia, but also the extent to which disrupting that relationship could wreak havoc around the world. Ever since Moscow launched its invasion in late February, the European Union has been hesitant to impose sanctions on Russia’s energy industry because it lacks other alternatives, and it lacks those alternatives because of a years-long hesitance to maintain a sufficiently diverse basket of sources and suppliers.

The continent also suffers from inadequate regasification capacity, which means it cannot fully replace piped gas from Russia with seaborne loads of LNG from other countries.
Mr. Baroudi highlighted that there are solutions for all of these problems, and some are already under way.

“Europe could also bolster its energy security by helping to develop the increasingly promising gas fields of the Eastern Mediterranean, the output of which could then be linked by undersea and/or overland pipeline to the European mainland. The utility of these and other moves would also be significantly enhanced by building new storage facilities for both LNG and conventional gas, which would make Europe a lot more resistant to future supply disruptions,” said Mr. Baroudi.

But most importantly in the long term, Europe needs to seize the opportunity presented by the great potential for offshore wind energy in the Mediterranean, since making full use of this potential – just in the coastal waters – could generate at least some 500 MILLION megawatts of electricity: in other words, the same as the entire global nuclear industry.

The Mediterranean region – including both its EU and non-EU components – can and should be a huge part of this drive for a dual resiliency against economic and environmental challenges alike. European investments in MENA countries’ energy output makes sense for several reasons, including lower labor and other construction costs, as well as more diversified – and therefore more reliable – energy supplies.
About a week ago, the European Commission outlined a new plan to end Europe’s dependence on Russian gas, one that envisions spending of more than 200 billion Euros over the next five years. That is a significant number, but now the plan needs to be funded.

This means that not just the EU itself but also the European Investment Bank, the World Bank, and the IMF – all need to open up their vaults. Needless to say, the private sector would do well to get in on the action as well.

Unfortunately, it is too late to prevent war in Ukraine. But the faster Europe moves effectively to end its reliance on Russian gas, embraces closer partnership with its Mediterranean neighbors, and achieves the full independence of its foreign policy, the sooner it can help to restore the peace – and prevent similar calamities in the future.

#athensenergydialogues #energy #climate #climatechange #renewableenergy #sustainability #climateaction #energyindustry #tsomokos
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For any additional information, please contact Ms. Elias Gerafenti, Tsomokos SA, tel. 210 728 9000 & 6970808764, e.gerafenti@tsomokos.gr

Ένα από τα σημαίνοντα στελέχη της παγκόσμιας ενεργειακής αγοράς εξηγεί πώς προέκυψε η τέλεια ενεργειακή καταιγίδα – Τι λέει για τις άστοχες πολιτικές της Ευρώπης

O Roudi Baroudi έχει 40 χρόνια διεθνή εμπειρία στους τομείς του πετρελαίου και του φυσικού αερίου, των ανανεώσιμων και πράσινων πηγών και των ενεργειακών υποδομών. Η καριέρα του ξεκίνησε από τις Ηνωμένες Πολιτείες το 1978, πέρασε από την Παγκόσμια Τράπεζα, το ΔΝΤ και την Ε. Επιτροπή και τον έφερε στην περιοχή της Ανατολικής Μεσογείου, περιοχή που έχει μελετήσει βαθιά και για την οποία έχει γράψει το βιβλίο με τίτλο «Maritime Disputes in the Eastern Mediterranean: The Way Forward».

Διευθύνων σύμβουλος, πλέον, της Energy & Environment Holding του Κατάρ μετέχει στο 10ο «Athens Energy Dialogues» και μιλώντας στο newmoney επιμένει ότι μία συνεργασία Ελλάδας και Τουρκίας στον χώρο της ενέργειας είναι και δυνατή και αμοιβαία επωφελής, αν και όχι απολύτως ανώδυνη. Επίσης, προκαλεί αισιοδοξία η πεποίθησή του ότι έχει ξεκινήσει η διαδικασία αποκλιμάκωσης του κόστους της ενέργειας στην Ευρώπη.

-Ποια είναι η εκτίμησή σας για την ενεργειακή κρίση; Πόσο θα κρατήσει; Υπάρχει διέξοδος από αυτή χωρίς τη Ρωσία;

«Προφανώς είναι ένα πολύ σοβαρό πρόβλημα, όχι μόνο για την Ευρώπη, αλλά και για ολόκληρο τον κόσμο, καθώς επηρεάζει τόσες πολλές πτυχές της καθημερινότητας, από την τιμή του ηλεκτρικού ρεύματος έως τη βενζίνη, τις μεταφορές γενικότερα, την τροφική αλυσίδα κ.λπ. Είναι πολύ δύσκολο να προβλέψουμε πόσο θα διαρκέσει, καθώς ο πόλεμος μόλις ξεκίνησε. Η πρόβλεψη μιας ημερομηνίας λήξης είναι δύσκολο εγχείρημα, καθώς τόσο τα προβλήματα όσο και οι λύσεις έχουν πολλά κινούμενα μέρη.

Καταρχάς, το πρόβλημα είναι προϊόν πολλών παραγόντων, όπως:

• οι παλαιότερες αποφάσεις για σταδιακή κατάργηση της χρήσης άνθρακα και πυρηνικών σε ορισμένες ευρωπαϊκές χώρες
• η αποτυχία αποτελεσματικής διαφοροποίησης του συνολικού ενεργειακού καλαθιού της Ευρώπης (που οδηγεί άμεσα στην υπερβολική εξάρτηση από τις ρωσικές προμήθειες, ιδίως από το φυσικό αέριο που μεταφέρεται με αγωγούς)
• οι επακόλουθες επιπτώσεις της πανδημικής κατάρρευσης των τιμών του πετρελαίου και του φυσικού αερίου, που ανάγκασε πολλούς παραγωγούς σε όλο τον κόσμο να κλείσουν, οδηγώντας με τη σειρά του σε ανοδικές πιέσεις στις διεθνείς τιμές όταν η ζήτηση ανέκαμψε.

Ο συνδυασμένος αντίκτυπος όλων αυτών έγινε ακόμη πιο βαρύς από τη συγκυρία: η κρίση έρχεται ακριβώς τη στιγμή που αγωνιζόμαστε να πετύχουμε με τους στόχους απαλλαγής από τις εκπομπές άνθρακα, καταργώντας τα ορυκτά καύσιμα. Έτσι οι ευρωπαϊκές αγορές ενέργειας έμειναν εξαιρετικά ευάλωτες σε διακοπές εφοδιασμού – ή ακόμα και στην πιθανότητα διακοπής.

Το να ξεσπάσει ο πόλεμος στην Ουκρανία, όταν αυτό έγινε, ήταν από πολλές απόψεις το χειρότερο σενάριο, και αυτό είναι που έχουμε να αντιμετωπίσουμε.

Δεύτερον, η αποτελεσματικότητα των λύσεων θα καθοριστεί από πολλαπλές μεταβλητές που εξαρτώνται από τη σωστή λήψη και εφαρμογή των αποφάσεων, την επαρκή χρηματοδότηση τόσο από τις κυβερνήσεις όσο και από διάφορους χρηματοπιστωτικούς οργανισμούς και τη συνεργασία μεταξύ των χωρών της ΕΕ και με τους γείτονές τους στη Βόρεια Αφρική και την Ανατολική Μεσόγειο.

Η Ευρώπη έχει πολλά κουμπιά που μπορεί να πατήσει και όσο περισσότερα πατήσει, τόσο καλύτερα θα είναι τα αποτελέσματα. Μερικά από αυτά θα ήταν:

• η καθυστέρηση της σταδιακής κατάργησης του άνθρακα/πυρηνικής ενέργειας
• η ριζική αύξηση των επενδύσεων σε ανανεώσιμες πηγές ενέργειας όπως η αιολική και η ηλιακή ενέργεια
• η επέκταση των δυνατοτήτων της Ευρώπης να δέχεται και να επεξεργάζεται μεταφορά μέσω πλοίων υγροποιημένου φυσικού αερίου
• η καλύτερη αξιοποίηση τέτοιων λύσεων στην Ισπανία, με σύνδεση μέσω αγωγών με τη Γαλλία και επομένως με την υπόλοιπη Ευρώπη
• εγκατάσταση κοινών δικτύων ηλεκτρικής ενέργειας με γειτονικές περιοχές
• η στήριξη στην αξιοποίηση υποθαλάσσιων κοιτασμάτων φυσικού αερίου στην Ανατολική Μεσόγειο και
• η κατασκευή νέων αγωγών που συνδέουν τις αγορές της ΕΕ με τους παραγωγούς φυσικού αερίου στην Κεντρική Ασία.

Όσο περισσότερα από αυτά τα πράγματα κάνουμε –και κάνουμε καλά– τόσο πιο γρήγορα θα υποχωρήσει η κρίση. Όσο επιτρέπουμε να καθυστερεί η εφαρμογή τέτοιων μέτρων, τόσο περισσότερο θα διατηρηθεί η κρίση –και η ευπάθεια της Ευρώπης σε παρόμοια προβλήματα στο μέλλον.

Σε τελική ανάλυση, λοιπόν, ναι, μπορούμε να βγούμε από την κρίση, αλλά δεν υπάρχει ένα μόνο μονοπάτι που θα οδηγήσει εκεί. Και ναι, μπορούμε να το κάνουμε με ή χωρίς τη συμμετοχή των Ρώσων, αλλά φυσικά η διαδικασία θα ήταν πολύ πιο εύκολη αν με κάποιο τρόπο συμμετείχαν σε αυτή».

-Πιστεύετε ότι οι τιμές της ενέργειας είναι δυνατό να επιστρέψουν ξανά στα επίπεδα του 2020; Θα πρέπει οι Ευρωπαίοι να προσαρμοστούν στο να ζουν με ακριβό ηλεκτρικό ρεύμα και καύσιμα; Τι θα σήμαινε αυτό για την ευρωπαϊκή οικονομία;

«Μεσομακροπρόθεσμα, με την προϋπόθεση ότι θα λάβουμε όλα ή τα περισσότερα από τα μέτρα που ανέφερα προηγουμένως, οι τιμές της ενέργειας σίγουρα θα επιστρέψουν μια μέρα στα επίπεδα του 2020, αλλά όχι στις αρνητικές τιμές που παρατηρήθηκαν για σύντομο χρονικό διάστημα, όταν ο COVID-19 κατακρήμνισε τη ζήτηση.

Όπως είμαι βέβαιος ότι γνωρίζετε, οι τιμές πετρελαίου και φυσικού αερίου συνδέονται όχι μόνο με τις αντίστοιχες καταστάσεις προσφοράς και ζήτησης, αλλά και μεταξύ τους. Οι συνθήκες που προκάλεσαν αρνητικές τιμές ήταν εξαιρετικά ασυνήθιστες, και ακόμη κι αν προσεγγίζαμε ξανά αυτά τα επίπεδα, από τη φύση τους δεν θα μπορούσαν να διαρκέσουν πολύ.

Ωστόσο, οι τιμές μπορούν να μειωθούν και η διαδικασία βρίσκεται ήδη σε εξέλιξη.

Ήδη σήμερα, πολλές υπεύθυνες χώρες αυξάνουν την παραγωγή πετρελαίου και φυσικού αερίου για να βοηθήσουν στην ηρεμία των αγορών στην Ευρώπη και αλλού. Ωστόσο ορισμένες άλλες χώρες αρνούνται να το κάνουν, ενώ κάποιες άλλες βρίσκονται υπό κυρώσεις, που τις εμποδίζουν να φέρουν στην αγορά αρκετά εκατομμύρια βαρέλια που είναι απαραίτητα για να πέσουν οι τιμές.

Προς το παρόν, οι Ευρωπαίοι δυσκολεύονται πολύ να αντιμετωπίσουν το κόστος ηλεκτρικής ενέργειας και καυσίμων, ειδικά εδώ στην Ελλάδα, όπου οι τιμές της ενέργειας είναι απίστευτα υψηλές. Η Γερμανία είναι ένα άλλο παράδειγμα.

Δεδομένης της κατάστασης, και επειδή είναι η ταχύτερη διαθέσιμη μέθοδος, ορισμένες ευρωπαϊκές χώρες πρέπει να αναστείλουν ή να ανακαλέσουν τις αποφάσεις τους να κλείσουν τους πυρηνικούς σταθμούς και τους σταθμούς ηλεκτροπαραγωγής με άνθρακα. Πρέπει να καθυστερήσουν το κλείσιμο για άλλα πέντε έως επτά χρόνια και ίσως να κατασκευάσουν επίσης ένα ή δύο νέα εργοστάσια άνθρακα, για να αντιμετωπίσουν την αυξανόμενη ζήτηση και να περιορίσουν την ανοδική πίεση στις τιμές μέχρι να προστεθούν στο δίκτυο άλλες πηγές ενέργειας.

Παρά την πιθανότητα οι τιμές να υποχωρήσουν τελικά, βραχυπρόθεσμα έως μεσοπρόθεσμα, οι Ευρωπαίοι πρέπει οπωσδήποτε να προσαρμοστούν. Μελέτες έχουν δείξει ότι οι αυξημένες τιμές της ενέργειας θα σημαίνουν μειωμένη οικονομική ανάπτυξη, ειδικά στη Γερμανία.

Αυτό σημαίνει ότι περισσότεροι άνθρωποι θα έχουν λιγότερα μέσα για να αντεπεξέλθουν στις υψηλότερες τιμές ενέργειας και αυτό καθιστά καθήκον των ηγετών της ΕΕ και των εθνικών κυβερνήσεων να αναπτύξουν πολιτικές και μηχανισμούς για να αμβλύνουν το πλήγμα, ειδικά για τις οικογένειες με χαμηλότερο εισόδημα».

-Η ελληνική κυβέρνηση ζητά από την ΕΕ «στοχευμένη και προσωρινή παρέμβαση» στη χονδρική αγορά φυσικού αερίου για τη μείωση των τιμών. Πιστεύετε ότι μια τέτοια παρέμβαση είναι εφικτή, και αν ναι, τι αντίκτυπο θα μπορούσε να έχει;

«Είναι σίγουρα εφικτή. Υπάρχουν περιστάσεις όπου η ΕΕ θα πρέπει να βοηθήσει τα κράτη-μέλη, όπως σε περιόδους πολέμου, και η τρέχουσα κατάσταση είναι εξαιρετική, πρωτοφανής μετά τον Β’ Παγκόσμιο Πόλεμο. Με αυτήν την εξαιρετική κατάσταση πραγμάτων, η ελληνική κυβέρνηση –όπως κάθε άλλο κράτος μέλος– μπορεί και πρέπει να προτείνει βιώσιμους δρόμους προς τα εμπρός, π.χ. ανώτατα όρια στο αυξανόμενο κόστος ηλεκτρικής ενέργειας, πετρελαίου ή/και άλλων ενεργειακών δαπανών. Με τη βοήθεια της ΕΕ, η κυβέρνηση θα πρέπει να μπορεί να επιδοτεί ορισμένους καταναλωτές χαμηλού επιπέδου, για παράδειγμα νοικοκυριά των οποίων η κατανάλωση είναι μικρότερη από 100 KWh την ημέρα».

-Έχετε γράψει ένα βιβλίο με τίτλος «Ναυτιλιακές διαφορές στην Ανατολική Μεσόγειο: Ο δρόμος προς τα εμπρός». Πιστεύετε ότι υπάρχει περιθώριο για ειρηνική συνεργασία Ελλάδας, Κύπρου και Τουρκίας στον ενεργειακό τομέα και εάν ναι, ποια θα ήταν τα μέσα για να επιτευχθεί;

«Ναι, πιστεύω ακράδαντα ότι η Ελλάδα, η Κύπρος και η Τουρκία θα μπορούσαν και θα έπρεπε να βρουν τρόπους συνεργασίας στον ενεργειακό τομέα, και υπάρχουν αρκετοί τρόποι με τους οποίους η συνεργασία θα προσφέρει πολλά πλεονεκτήματα.

Το ένα είναι η εξερεύνηση και η εκμετάλλευση κοιτασμάτων πετρελαίου ή/και φυσικού αερίου κάτω από τον βυθό της Ανατολικής Μεσογείου, όπου τα μέρη θα μπορούσαν να μοιραστούν το κόστος, να μοιραστούν δεδομένα, να μειώσουν τις επικαλύψεις, να επενδύσουν το ένα στα κοιτάσματα του άλλου κ.λπ.

Το ίδιο θα μπορούσε να ισχύει και για τα υπεράκτια αιολικά πάρκα.

Ένας άλλος τρόπος είναι η κατασκευή ενός ή περισσότερων αγωγών που θα μετέφεραν αέριο από τη νοτιοανατολική Μεσόγειο στην Ευρώπη χωρίς να χρειάζεται όλη η διαδρομή να γίνεται κάτω από το νερό: ο αγωγός θα μπορούσε να φτάσει έως την τουρκική ακτή και ο υπόλοιπος να συνέχιζε από την στεριά.

Δυνητικά, οι τρεις χώρες θα μπορούσαν επίσης να συνεργαστούν για να κατασκευάσουν μια μονάδα LNG, μια τεράστια επένδυση που γίνεται πιο ελκυστική αν διαμοιραστεί το ρίσκο. Σίγουρα πάντα υπάρχει χώρος για ειρήνη και πάντα υπάρχει χώρος για διπλωματία. Ο δρόμος προς τα εμπρός είναι η Ελλάδα και η Τουρκία να συνεχίσουν τις συζητήσεις τους με βάση τις αρχές της Σύμβασης του ΟΗΕ για το Δίκαιο της Θάλασσας (UNCLOS) που είναι ο Άτλαντας του Παγκόσμιου Ωκεανού. Σε αντίθεση με την Κύπρο, ούτε η Ελλάδα ούτε η Τουρκία έχουν υπογράψει την UNCLOS, αλλά οι κατευθυντήριες γραμμές και τα δεδικασμένα της ισχύουν – και μπορούν να εφαρμοστούν – από όλες τις χώρες. Η UNCLOS παρέχει μια νομική και τεχνική υποδομή με την οποία η Ελλάδα και η Τουρκία, ως κύρια μέρη, θα μπορούσαν να καθίσουν και, με αναφορά σε έρευνες που χρησιμοποιούν την τελευταία λέξη της επιστήμης και τεχνολογίας, να καταλήξουν σε μια δίκαιη και ισότιμη θαλάσσια λύση.

Τόσο ο Πρωθυπουργός Μητσοκάκης όσο και ο Πρόεδρος Ερντογάν έχουν εκφράσει την προθυμία τους να επιλύσουν αυτή τη σύγκρουση και πιστεύω ότι αυτή τη στιγμή είναι η κατάλληλη για να γίνει.

Στο βιβλίο μου, έχω επισημάνει μελέτες που δείχνουν ότι και οι δύο χώρες θα έχαναν ορισμένες θαλάσσιες περιοχές, αλλά και οι δύο χώρες θα κέρδιζαν πολύ περισσότερα: την ομορφιά ενός αποτελέσματος win-win, στο οποίο και οι δύο γείτονες θα μπορούσαν να επωφεληθούν από τον πλούτο του πετρελαίου και του φυσικού αερίου της περιοχής, ενώ και οι δύο λαοί θα μπορούσαν να απολαμβάνουν ειρήνη και ευημερία.

Φυσικά, αυτού του είδους η συνεργασία εξαρτάται από τη φιλική δέσμευση, και αυτή τη στιγμή αυτό ακούγεται δύσκολο, αλλά, όπως εξηγεί το βιβλίο, υπάρχουν τρόποι να επιλυθούν ορισμένες από τις διαφορές μεταξύ των τριών χωρών, ειδικά των διαφορών που σχετίζονται με τα θαλάσσια σύνορα.

Το επόμενο βιβλίο μου, «Κλίμα και ενέργεια στη Μεσόγειο», προχωρά ακόμη περισσότερο προτείνοντας συνεργασία σε όλη την ευρωμεσογειακή περιοχή. Ένα από τα παραδείγματα που μπορούμε να δούμε είναι η Κασπία, όπου πέντε χώρες – Αζερμπαϊτζάν, Ιράν, Καζακστάν, Ρωσία και Τουρκμενιστάν – βρήκαν μια πολύ δημιουργική λύση. Βασικά, συμφώνησαν να εφαρμόσουν ένα σύνολο κανόνων για τον βυθό της θάλασσας και ένα άλλο για το νερό και τους πόρους του. Αυτή η συμφωνία δεν είναι τέλεια, και ορισμένες πτυχές πρέπει ακόμη να αποτελέσουν αντικείμενο διμερών διαπραγματεύσεων, αλλά η συμφωνία επέτρεψε σε κάθε χώρα να πάρει τουλάχιστον μερικά από αυτά που ήθελε και να συνεχίσουν με την εκμετάλλευση των αντίστοιχων μεριδίων τους».

-Η Ελλάδα φιλοδοξεί να γίνει στρατηγικός ενεργειακός κόμβος για την Ευρώπη. Είναι αυτό εφικτό και αν ναι τι οφέλη θα αποφέρει στη χώρα;

«Είναι απολύτως εφικτό. Ανάλογα με τις ποσότητες που διαθέτουν, κάθε χώρα της Ανατολικής Μεσογείου που καταλήγει να παράγει πετρέλαιο και φυσικό αέριο μπορεί να γίνει τουλάχιστον σε κάποιο βαθμό ενεργειακός κόμβος. Κοιτάζοντας πίσω, πριν από 10 χρόνια, η Κύπρος είχε την ευκαιρία να γίνει ένας ωραίος περιφερειακός κόμβος αγωγών και τερματικού σταθμού LNG, και εάν η ανάπτυξη συνεχίσει να αυξάνεται, έχει ακόμα μια καλή ευκαιρία να πραγματοποιήσει αυτές τις προβλέψεις. Η Ελλάδα θα μπορούσε επίσης να γίνει σημαντικό ενεργειακό κέντρο την επόμενη δεκαετία, εάν επιβεβαιωθούν κοιτάσματα ανάλογα με αυτά που βρέθηκαν σε άλλες χώρες της Ανατολικής Μεσογείου, όπως η Αίγυπτος και το Ισραήλ. Πράγματι, πολλές εταιρείες του ιδιωτικού τομέα ενδιαφέρονται, αλλά αυτό πιθανότατα θα διαρκέσει 5-10 χρόνια αφού η εξερεύνηση επιβεβαιώσει επαρκείς ποσότητες υδρογονανθράκων. Τα οφέλη του κόμβου θα ήταν σημαντικά: περισσότερες καλοπληρωμένες θέσεις εργασίας για τους Έλληνες πολίτες, περισσότερα κέρδη για τις ελληνικές εταιρείες, περισσότερα έσοδα για την ελληνική κυβέρνηση, περισσότερα διαθέσιμα κεφάλαια για δρόμους, σχολεία και νοσοκομεία, μεγαλύτερη επιρροή στην ευρωπαϊκή και παγκόσμια σκηνή, και τα λοιπά».