energy outlook

COVID-19 to impact global energy markets, Rystad report reveals

In a recently published report, Rystad Energy notes that the coronavirus pandemic should be expected to last for the entirety of 2020 and provides possible scenarios and impact on the global energy markets.

The new coronavirus pandemic has spread with unprecedented speed, and many nations are turning away from the goal of containment in favor of “flattening the curve”, mitigating the acute impact of the virus in an effort to spread out the number of infected over time and prevent hospitals from...

https://safety4sea.com/covid-19-to-impact-global-energy-markets-rystad-report-reveals/

EIA: natural gas inventories to reach record levels

The US Energy Information Administration (EIA) in its latest February Short-Term energy outlook, estimates that the Lower 48 states’ working natural gas in storage will end in 2019-2020 winter heating season, at 1.935 billion cubic feet, meaning 12% more inventory in comparison to the previous five-year average.

In fact, this growth came due to the mild winter temperatures and the continuing strong production. EIA further expects that net injections during the refill season from April 1st until...

https://safety4sea.com/eia-natural-gas-inventories-to-reach-record-levels/

Production of first large-scale offshore wind project in Japan

According to a recent statement, Marubeni Corporation, has decided to implement the construction; operation and maintenance of the offshore wind farms at Akita Port and Noshiro Port in Akita Prefecture, through the special purpose company “Akita Offshore Wind Corporation” (AOW) established in April 2016 and together with other Joint Business Partners.

It is said that the Offshore Wind Farms are comprised of the bottom fixed offshore wind farm and the onshore substation and transmission lines and...

https://safety4sea.com/production-of-first-large-scale-offshore-wind-project-in-japan/

IEA: Offshore wind to be a $1 trillion industry by 2040

It is expected that over the next few years, offshore wind power will expand impressively, helping decarbonise energy systems and reduce air pollution, according to a new report by the International Energy Agency.

Dr Fatih Birol, IEA’s Executive Director, launched the Offshore Wind Outlook 2019 on 25 October, Danish Minister for Climate, Energy and Utilities, Dan Jørgensen, in Copenhagen, Denmark; the birthplace of offshore wind.

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The report, to be published...

https://safety4sea.com/iea-offshore-wind-to-be-a-1-trillion-industry-by-2040/

Smart data drives energy transition: Opportunities & challenges

It is believed that, after a transitional period, nuclear fuel (uranium) and the renewable energy sources; wind; hydropower; solar power; geothermal and marine energy, will make up most of the world’s energy production thanks to digitalization. Indeed, the support by smart data is about to totally transform power systems in the near future.  Besides, by 2050, the world’s primary energy mix is expected to be split equally between fossil and non-fossil sources. However, which are the challenges...

https://safety4sea.com/cm-smart-data-drives-energy-transition-opportunities-challenges/