Scientists and climate activists have highlighed and warned against the significant global warming impact of fossil gas and an expansion of related infrastructure. Furthermore, analysts have also repeatedly criticized Europe’s deep dependency from Russia – created particular by Germany with the help of petrochemical giant BASF and it’s daughter Wintershall Dea. Putin’s war in Ukraine is forcing the EU now to profoundly restructure it’s energy landscape and to save gas for the coming winter. But while the public is being told to shower cold and heat less Europe is still feeding a fossil fuels hungry petrochemicals and plastics industry. Andy Gheorghiu outlines the major findings of a new report that reveals the significant dimension of this gluttony and that calls for a profound new diet for this sector.
At the beginning of the COP26 the United States, the European Union and over 100 partner countries launched the so-called Global Methane Pledge – aiming at reducing global methane emissions by at least 30 percent from 2020 levels by 2030. The overarching goal is to limit global warming to 1.5 degrees Celsius above pre-industrial levels (1850-1900). At the same time, the EU Commission is working on a legislative act to reduce methane emissions in the oil, gas and coal sectors. Andy Gheorghiu summarizes the state of play, explains the importance of the petrochemical sector and the supply chain and questions how ambitious the upcoming EU methane regulation might be.
The Scottish government, pushed hard by environmentalists, has finally announced that it is unlikely to pursue oil exploration or extraction in the North Sea’s Cambo fields. This, together with the Green Party’s entrance into a government with the Scottish National Party (SNP), burnishes its climate credentials. But, ultimately, it must exit oil production entirely. From Edinburgh, Scotland, Paul Hockenos has the story.
Fossil gas has long been touted as being the cleanest of fossil fuels as well as a needed “bridge technology”. Plastics on the other hand have been hailed an integral part of modern society that might even deliver climate benefits due to their light weight. Andy Gheorghiu takes a closer look at the link between gas, climate and plastics and argues for an EU Methane Regulation that applies strict rules for both the fossil energy and the petrochemical sector.
Ineos who? That was more or less my response too when I first heard of Ineos. And yet in 2019 Ineos was once again among the global top 5 chemical companies (in terms of sales, which totalled €27 billion). Ineos is also the top European producer of ethylene, the basic feedstock in today’s petrochemical industry and an essential component in the production of plastic. Andy Gheorghiu reports