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1.
Finance Research Letters ; : 103632, 2023.
Article in English | ScienceDirect | ID: covidwho-2165305

ABSTRACT

One of the ultimate goals of the Green Economy is to move away from dependence on fossil energy, thereby achieving a sustainable development of a resource-saving and environment-friendly society. Thus, whether Green Economy stocks can hedge the risks of fossil energy markets, especially for natural gas market during recent crisis periods, is of great importance for both policy makers and portfolio managers. This paper identifies the time-varying connectedness and hedging effects of twelve NASDAQ OMX Green Economy sector stocks on NYMEX natural gas futures during three major turmoil events, i.e., European debt crisis, COVID-19 pandemic, and recent Russia-Ukraine conflict. The empirical results show that various Green Economy sector stocks can provide gratifying hedge effectiveness on the market risk of natural gas futures, and some of them can even perform similarly to gold and USD. Moreover, NASDAQ OMX Green Economy sector stocks offer better hedge effectiveness during recent Russia-Ukraine conflict than those of them in the periods of European debt crisis and COVID-19 pandemic. Finally, the Sharpe ratio results further show the important but time-varying roles of Green Economy sector stocks in hedging risks of natural gas market.

2.
Expert Systems with Applications ; : 119505, 2023.
Article in English | ScienceDirect | ID: covidwho-2165293

ABSTRACT

Reliable prediction of natural gas consumption helps make the right decisions ensuring sustainable economic growth. This problem is addressed here by introducing a hybrid mathematical model defined as the Choquet integral-based model. Model selection is based on decision support model to consider the model performance more comprehensively. Different from the previous literature, we focus on the interaction between models when combine models. This paper adds grey accumulation generating operator to Holt-Winters model to capture more information in time series, and the grey wolf optimizer obtains the associated parameters. The proposed model can deal with seasonal (short-term) variability using season auto-regression moving average computation. Besides, it uses the long short term memory neural network to deal with long-term variability. The effectiveness of the developed model is validated on natural gas consumption due to the COVID-19 pandemic in the USA. For this, the model is customized using the publicly available datasets relevant to the USA energy sector. The model shows better robustness and outperforms other similar models since it consider the interaction between models. This means that it ensures reliable perdition, taking the highly uncertain factor (e.g., the COVID-19) into account.

3.
Research in International Business and Finance ; 64:101863, 2023.
Article in English | ScienceDirect | ID: covidwho-2165812

ABSTRACT

This paper aims to develop an artificial neural networkbased forecasting model employing a nonlinear focused time-delayed neural network (FTDNN) for energy commodity market forecasts. To validate the proposed model, crude oil and natural gas prices are used for the period 2007–2020, including the Covid-19 period. Empirical findings show that the FTDNN model outperforms existing baselines and artificial neural networkbased models in forecasting West Texas Intermediate and Brent crude oil prices and National Balancing Point and Henry Hub natural gas prices. As a result, we demonstrate the predictability of energy commodity prices during the volatile crisis period, which is attributed to the flexibility of the model parameters, implying that our study can facilitate a better understanding of the dynamics of commodity prices in the energy market.

4.
Resources Policy ; 80:103200, 2023.
Article in English | ScienceDirect | ID: covidwho-2165802

ABSTRACT

The present study empirically probed into non-linear associations between natural resources commodity prices and green finance measured in terms of green bonds. Although the literature has sufficient evidences for the association of energy stocks and precious metals like gold and silver with green bond market, however, the number of studies investigating the relationship between natural resources like oil prices, natural gas prices and coal prices are very scarce. Therefore our study accompanies those few studies that tried to explore this association. For empirical estimation, the QARDL estimation approach followed by Wald test as well as Granger causality tests is employed to analyze the daily global data, spanning over Jan 2010 to Dec 2021. The results of our empirical calculations show that over the long term, green bonds are strongly and favourably correlated with rising oil prices at all quantiles. However, only at medium to higher quantiles are natural gas prices and coal prices highly correlated with green bonds (in a negative and positive manner, respectively). i.e., (0.05–0.40). Oil prices and natural gas has significant impact on green bonds only at low quantiles (positive and negative, respectively), while coal prices have significant (positive impact) on green bonds at all quantiles. The error correction term fulfills all the requirements i.e., it is significant and negative, which shows that there exists a long term stable association between the studied variables and the green bonds globally. Moreover, the Granger causality test shows the presence of the bi-directional associations between the prices of these resources with green bonds. This research offers a number of policy proposals to assist governments, decision makers and investors in making better green bond market decisions.

5.
Abu Dhabi International Petroleum Exhibition and Conference 2022, ADIPEC 2022 ; 2022.
Article in English | Scopus | ID: covidwho-2162741

ABSTRACT

Objectives/Scope: An expansion multi-billion dollar LNG plant EPC project has successfully adopted end to end digital project delivery overcoming numerous challenges. The complete Engineering, Procurement and Construction works, is scheduled to be commissioned by 2025. An extension of the existing liquefaction complex comprising of six complete trains and associated facilities, meant to increase the national LNG production by 35%. The complexity of multiple inter-continental entities, systems and cultural divisions between Engineering, Procurement (in Europe) and Construction driven from Far-east had been significant and further compounded by Covid. To align all parties early using the Advanced Work Packaging (AWP) method and digitally mapping the systems and enormous data generated from each department (working in silos), were the main challenges in taking the job further from FEED in to Detail Engineering and Site Execution. The entities involved had adopted the AWP method first time for project delivery. Methods, Procedures, Process: Based on the Advanced Work Packaging (AWP) and Workface Planning (WFP) philosophy, the whole project have been managed through a highly effective building sequence based digital detailed work packages for Engineering, Preconstruction planning and Onsite installation (EWPs, CWPs and IWPs respectively). The digital collaboration between departments and teams located in multiple countries, made all that possible and has been the key to success. The JV engaged subject matter experts in AWP, and also implemented an end to end digital project delivery platform. The platform was implemented as a non-disruptive overlay to over 15 different preexisting software and tools. Their interaction into a single digital platform has been extremely important to connect and manage the various stage of the process. All the information from Engineering, Procurement and Construction flow in one unique database and interact each other. That allows all stakeholders, including the Owner, to manage and have the full visibility of all EPC phases. A huge amount of data and information centralized, digitalized and made available to all stakeholders. The flexibility in the customization of the various modules and dashboards of the system, has been imperative due to the different setups and approach to Construction from JV's companies and that's the biggest vantage to manage properly all phases of the project. Results, Observations, Conclusions: According to various analysis performed on the project schedule, the Engineering phase got a 10% reduction of manhours investment against a contemporary AWP implementation, because of taking a digital approach. The project has started to experience a schedule compression consequently in Construction activities, that have started earlier than planned. By utilizing the automatic breakdown of CWPs into IWPs, considering the crew size and their rates, has led to a significant reduction in manhours spent for the WFP activities at site and in terms of number of personnel required. The early preparation has started to reduce the uncertainties faced in the field. Construction progress details are made visible through the system and utilising some of the 3D functions, and also get a graphical representation on a colour coded 4D report. The selective account permissions, makes relevant data available to any stakeholder in an easy to use and simple manner, depending on the department and company. One can view and work only on the required portion of the total scope, reducing the time of chasing information when dealing with huge amount of data. Furthermore, it provided a great advantage to allow setting up the contractual requirements based on the visibility of information to the project leadership of each company involved. Novel/Additive Information: Conventionally, AWP implementation is resource intensive and time consuming for any new entity. Directly implementing this in mega project with companies in a JV situation is even more challenging. Taking a digital first approach and ad pting a strong framework enabled by cloud based technology has been a great advantage for all departments and stakeholders involved. The project has avoided lost time in chasing information and people, decreased the risk of common mistakes in data retrieval and have increased their productivity. The advanced planning and the interaction with the project schedule, the deliverables and the materials availability in real time has been done smoothly. Furthermore, the Machine learning based material visibility, management of various warehouses have helped implement a smooth material pull for the project. The GIS based scope management along with the various 3D functions, are being used along with machine learning to drive continuous improvement for the success of the LNG project. Copyright © 2022, Society of Petroleum Engineers.

6.
Energy Policy ; 173:113379, 2023.
Article in English | ScienceDirect | ID: covidwho-2149684

ABSTRACT

The development of mechanization and technology has triggered the rising energy consumption in various sectors. The study objective is to investigate the relationship between gas consumption share, energy intensity, economic structure share, per capita gross domestic value, and population at the sectorial level from 1994 to 2020. This study analyzes the factors in three ways: first, the study applies decomposition analysis between key factors. Second, an appropriate decoupling method is applied to investigate the impacting factors to check the driving factors affecting the decoupling using the logarithmic mean Divisia index method. Third, based on aggregated and sectorial variations, the ratio decomposition of each sector is estimated. The results show that the economic activity effect is the main driving factor in raising gas consumption, which increased by 15.11 crore Tk./million during 1994–2020. The energy intensity trend declined by 14.87 Mtoe/crore Tk., which shows an imperative role in natural gas consumption efficiency for production and in economy. The economic structure share provided a record decline by 52.79 crores Tk. during the COVID-19 situation while a significant increase in gas consumption was found until 2013, which could be significant under decomposition changes. Three decoupling states such as expansive negative decoupling, expansive coupling and weak decoupling were found in which the decoupling relationship was gradually a dominated by a weak decoupling. The sectorial index provides a maximum of weak decoupling in which energy-saving technology gap change was found in power, captive power, industry, tea estate, compressed natural gas, and fertilizer sectors. Finally, the scenarios analyzed that natural gas consumption estimates maximum gross domestic product and conserves more energy in the future. Briefly, the decoupling process and its leading factors were obvious among nine major sectors.

7.
Energy Reports ; 8:14595-14605, 2022.
Article in English | Scopus | ID: covidwho-2130648

ABSTRACT

Data from 15 European countries is analysed to provide novel estimates of daily own-price, cross-price and income elasticities of natural-gas-demand from 2016 to 2020. The results show that: first, there is a strong-seasonal component in the October–February period during which residential-demand has a higher share on total demand, and gas price is not a determinant factor for most of the countries. This seasonal profile makes price-based tools more effective modifying end-consumer behaviours from March to August when estimated own-price elasticities present larger values in absolute terms. Second, there are estimated positive own-price elasticities from October to February in Bulgaria, Luxemburg, Poland, the UK, and Portugal. The first four countries present natural gas prices below the EU-28 average during the analysed period and it is argued that positive elasticities may reflect a disconnection between the price traded on the organized markets and the real price perceived by end-customers. For Portugal, who is currently carrying out a very aggressive policy to become coal-free by the end of 2021, natural gas and coal are mainly consumed in power sector to provide flexibility and back up renewable generation. The limited alternatives to provide these services may explain why coal and natural gas are found to be complementary. Finally, it is found that lockdowns due to covid-19 highly impacted on natural gas demand, confirming for the first time in the literature a “double heating effect”. Our results help to find when price-based tools by policymakers will influence more effectively natural-gas-demand following economic and environmental goals. © 2022 The Authors

8.
Pacific Business Review International ; 15(1):41-55, 2022.
Article in English | Web of Science | ID: covidwho-2072227

ABSTRACT

The coronavirus(COVID-19)pandemic disruption adversely impacted the Supply Chain for Natural Gas(NG) retailing, jeopardizing committed targets for thesocio-economic transition toa gas-based economyleading to inclusive growth in India. Furthermore, Omicron'srapid spread is a cause of global concern. This research aims to develop a conceptual Supply Chain Performance (SCP) measurement methodology for reducing recovery time post exogenous disruption. Exploratory research involving an integrative literature review identifies different approaches, frameworks, models, and techniques for Supply Chain PerformanceMeasurement(SCPM). Analysis reveals that the application of DMAIC improves the reliability of Supply Chain Management (SCM) functional processes during disruption recovery while synthesizing the Balanced Scorecard (BSC) with Triple Bottom Line(TBL) accounting approach provides a rigorous robust method to represents financial, social, and environmental performance goals. Accordingly, findings present a methodology with nine systematic steps to evaluate performance by City Gas Distribution(CGD)entities to accelerate NG retail consumption and speed up network expansion to meetthe growing clean energy demand of the urban populace. Additionally, anIndian model for transition to a gas-based economy is also presentedto distinguish competing goals to harmonize growth with environmental sustainability and ecological modernization. Though SCP is a mature concept, the literature on its methodology during disruption recovery for NG retailing is scanty. Hence, the proposed action-oriented SCPM methodology has practical implications for improving SCP, contributing uniquely to the retail SCM domain for NG. Its application will instigate industry practitioners to review Supply Chain Management (SCM) processes and strategies to improve service effectiveness and delivery efficiency.

9.
Energy Strategy Reviews ; 44:100979, 2022.
Article in English | ScienceDirect | ID: covidwho-2068972

ABSTRACT

Natural gas plays important role in the global energy sources, hence understanding its price behavior is important to various economic agents. This study examined whether rational bubbles existed in the three major natural gas markets by employing Fourier unit root tests and a nonparametric rank test for cointegration. Data comprises monthly data on the three largest natural gas indices in the world – Henry hub (USA), European and Asian (Japan) for the period from 2000M1–2021M12. The results reveal that the efficient market hypothesis holds in the market ruling out the possibility of arbitrage opportunities. The rank test estimates at 0.009677, 0.009872, and 0.009657 at 1% significant level for the pre-COVID-19 sample period, and at 0.009671, 0.09874, and 0.009661 at 1% significant level for the full sample period contradict the rational explosive bubble framework that suggests deviation of prices from the fundamentals. This suggests that natural gas prices markets are efficient at least in the weak form, the implication is that disruptions in the market will be short-lived as the market will fundamentally adjust back to equilibrium.

10.
Discrete Dynamics in Nature and Society ; 2022, 2022.
Article in English | ProQuest Central | ID: covidwho-2064331

ABSTRACT

The European Union is facing the highest natural gas prices in 15 years, owing largely to an upward trend in electricity prices, which is also on an uphill curve. However, the rise in electricity and natural gas prices is a widespread phenomenon that is being felt not only in Europe but also globally, as economic activity resumes and energy consumption returns to prepandemic levels. Consequently, this paper investigates how COVID-19 influenced the Romanian energy market. To accomplish our goal, we used daily data for variables and market indices that characterize COVID-19 and the energy market from July 1 to December 21, 2021. The results of the GARCH (1, 1) model estimation show that the major performer in Romania’s energy allocation and supply market had the highest conditional variance. In addition, the ARDL model was chosen because of the variable integration mix (order 0 and 1), as well as the VAR and the Granger causality framework. The empirical results of ARDL models provide the first conclusion of the analysis, indicating that the number of short-term connections was greater than long-term connections, which is also explained by the presence of short episodes of high volatility recorded in the investigated time interval. Another conclusion drawn from this study is that COVID-19 cases registered in Europe and around the world have made a significant contribution to explaining the evolution of the energy market, owing to the large number of cases registered in these regions and the level of contagion transmitted from these markets to the energy market. Furthermore, based on the Granger causality test results, only one-way causal relationships were identified from the variables that capture the evolution of the COVID-9 pandemic to the yields of Romanian energy companies. The novelty of this article is the examination of the impact of COVID-19 on the energy market throughout the fourth wave of coronavirus using the GARCH framework, the ARDL model, which allows for the capture of both short- and long-term reactions, the variance decomposition, and the Granger causality test. Because of the ongoing changes in the pandemic’s evolution, additional research on this topic is undoubtedly on the horizon in the near future.

11.
BMJ : British Medical Journal (Online) ; 378, 2022.
Article in English | ProQuest Central | ID: covidwho-2064110

ABSTRACT

The UK has a new king (doi:10.1136/bmj.o2196),1 one who believes that modern medicine must combine the “best of new technology and current knowledge with ancient wisdom” (doi:10.1258/jrsm.2012.12k095),2 and a new prime minister, Liz Truss, who promises to deliver, deliver, and deliver (doi:10.1136/bmj.o2147).3 England has a new health secretary, with a worrying track record on health (doi:10.1136/bmj.o2193).4 The US has introduced a law that limits the profiteering of drug companies(doi:10.1136/bmj.o2163).5 Scotland is considering legalising assisted dying (doi:10.1136/bmj.o2205).6 And The BMJ has appointed three new columnists (doi:10.1136/bmj.o2201, doi:10.1136/bmj.o2195, doi:10.1136/bmj.o2206).789 And yet, covid persists in posing questions that are difficult to answer (doi:10.1136/bmj.o2183),10 including the merits and role of testing (doi:10.1136/bmj-2022-071215, doi:10.1136/bmj.o2055).1112 A plan to solve the workforce crisis has many obvious factors to consider yet remains elusive (doi:10.1136/bmj-2022-072977)13;new evidence underscores the worrying link between doctors’ burnout and deterioration in patient care (doi:10.1136/bmj-2022-070442, doi:10.1136/bmj.o2157)1415;health service whistleblowers still receive shoddy treatment (doi:10.1136/bmj.o2187)16;and people at the end of life continue to struggle to benefit from palliative care (doi:10.1136/bmj.o2202).17 Another constant in our ever changing world is industry’s attempts to manipulate science, behaviour that we would now describe as disinformation. Two particular areas of focus are the push for fracking, something of which Liz Truss has spoken favourably—despite evidence pointing to climate harm from methane leaks (doi:10.1136/bmj.k2397)19—and for developing carbon capture technology, a response to carbon emissions that has seen universities receive huge donations even though industry’s internal documents accept that carbon capture doesn’t make economic or environmental sense. Evidence of attempts to manipulate science were persuasive in our decision to stop publishing research funded by the tobacco industry (doi:10.1136/bmj.f5193).20 We already support divestment from fossil fuels, and this new investigation is another spur for medical and healthcare organisations to join us (doi:10.1136/bmj.m167).21 Our policy is also to decline all research funded by companies that produce fossil fuels, although their involvement in research into alternative green energy solutions makes this calculus more complex.

12.
Heliyon ; 8(10): e10820, 2022 Oct.
Article in English | MEDLINE | ID: covidwho-2061196

ABSTRACT

This study aims to determine the effect of global price movements for energy sector commodities, especially Crude Oil and Natural Gas Prices, on cryptocurrency price movements. This study focuses more on the Bitcoin cryptocurrency. This study uses quantitative methods, and the data collection used is secondary data with weekly data and the period from January 1, 2020-July 31, 2021. The number of observations used in this study amounted to 79 observations. Secondary data sources are obtained through the website finance.yahoo.com. The data processing technique will be carried out using Stata and SPSS software, the Multiple Linear Regression method, and the Classical Assumption Test. The results of this study show that global prices for energy sector commodities, especially Crude Oil, Natural Gas, have a positive effect on Bitcoin price movements. These results indicate a link between energy and Bitcoin caused by Bitcoin miners who are mining Bitcoin using energy so that when the price of Bitcoin rises, the price of energy will also increase.

13.
Journal of Geo-Information Science ; 24(9):1701-1716, 2022.
Article in Chinese | Scopus | ID: covidwho-2056379

ABSTRACT

With the proposal of "carbon peak" and "carbon neutralization", Liquefied Natural Gas (LNG) has gradually garnered the attention of energy market as a clean and low-carbon energy. In this context, it is of great significance to analyze the evolution mode of the LNG maritime transport network, so as to master the dynamic of global energy pattern and the status of China's import trade. In this paper, the evolution trend of the global LNG maritime transport network from 2018 to 2020 is explored based on the ship trajectory data and complex network theory. Meanwhile, according to China's trade status, LNG import sources, distribution of main import ports, and the inflow status of the top three import ports in China are analyzed. The results show that: (1) From 2018 to 2020, the global LNG maritime transport network expanded with a "scale-free" characteristic. The "breadth" and "depth" of node connections in the backbone network are increasing, and there is a risk that global LNG trade will become monopolistic;(2) The countries along the "Belt and Road Initiative" actively participated in trade. The numbers of import ports and import voyages in Central and North America, South and Southeast Asia have significantly increased, and in particular, Sabetta and Bonny ranked the top eight globally according to their export volume;(3) The average shortest path length of the network is increasing year by year from 2018 to 2020, and the new mode of "transshipment port" business is gradually emerging. By 2020, 21 transshipment ports have participated in LNG trade, and the United States occupies the dominant position in global transshipment;(4) In recent three years, China's LNG import scale has developed rapidly, and the flow direction of the maritime transport network tends to be diversified. However, Australia is still the main LNG source for China. In terms of import volume, the ports of Tianjin, Shenzhen, and Yung'an rank the top three in China, and the pressure to reduce carbon emissions has prompted the economically developed regions to build terminals and increase imports. © 2022, Science Press. All right reserved.

14.
Studies on Russian Economic Development ; 33(5):555-560, 2022.
Article in English | ProQuest Central | ID: covidwho-2038258

ABSTRACT

—Despite the ongoing geopolitical crisis, which has replaced a series of external shocks to energy markets during the COVID pandemic, the problems of global climate change remain the focus of attention of governments and energy companies. The article discusses the key directions of the strategies of oil majors and smaller players in the energy market at the upcoming stage of decarbonization, as well as the features of the transformation of gas and LNG companies in the context of growing instability. Technological imperatives for companies, differentiated in the regional and structural-industry context, are determined. The main vectors of transformation processes are indicated.

15.
Resources Policy ; 79:102968, 2022.
Article in English | ScienceDirect | ID: covidwho-2031663

ABSTRACT

In this paper, we investigate the volatility spillovers among major energy stocks, the electricity index, and fossil fuel energy commodities (crude oil, natural gas, and coal) using firm-level data in an emerging market, Turkey over the period July 18, 2006–December 31, 2021, which covers important economic events worldwide. To do this, we employ Diebold and Yilmaz's (2012) approach to examine both time-varying and invarying volatility spillovers among markets. Our findings reveal that Turkish energy stocks and the fossil fuel energy markets have high interdependencies, which are significantly affected by global political, financial, and extreme events. The volatility spillovers among markets during the COVID-19 outbreak in 2020 exceeded the 2008 global financial crisis. We also examine the volatility connectedness between markets based on frequency domain using various frequency bands (short term, medium term, long term). To do so, we adopt Barunik and Krehlik’s (2018) approach and find that the highest performance is recorded in the long horizon compared to short and medium horizons, implying that the impact of volatility spillover transmission from one market to others is persistent (long-lasting) in the Turkish market. Finally, we discuss policy implications for global investors and policymakers based on our results.

16.
Atmospheric Chemistry and Physics ; 22(17):11203-11215, 2022.
Article in English | ProQuest Central | ID: covidwho-2025099

ABSTRACT

We use satellite methane observations from the Tropospheric Monitoring Instrument (TROPOMI), for May 2018 to February 2020, to quantify methane emissions from individual oil and natural gas (O/G) basins in the US and Canada using a high-resolution (∼25 km) atmospheric inverse analysis. Our satellite-derived emission estimates show good consistency with in situ field measurements (R=0.96) in 14 O/G basins distributed across the US and Canada. Aggregating our results to the national scale, we obtain O/G-related methane emission estimates of12.6±2.1 Tg a-1 for the US and 2.2±0.6 Tg a-1 for Canada, 80 % and 40 %, respectively, higher than the national inventories reported to the United Nations. About 70 % of the discrepancy in the US Environmental Protection Agency (EPA) inventory can be attributed to five O/G basins, the Permian, Haynesville, Anadarko, Eagle Ford, and Barnett basins, which in total account for 40 % of US emissions. We show more generally that our TROPOMI inversion framework can quantify methane emissions exceeding 0.2–0.5 Tg a-1 from individual O/G basins, thus providing an effective tool for monitoring methane emissions from large O/G basins globally.

17.
Natural Gas Industry ; 42(7):1-6, 2022.
Article in Chinese | Scopus | ID: covidwho-2024390

ABSTRACT

Natural gas will play more and more important role in the sustainable low-carbon development mode characterized by low energy consumption, low pollution and low emission. It has been and will continue to be the focus of attention. The 28th World Gas Conference (WGC2022) was held on May 23-27, 2022 in Daegu, South Korea. The conference summarized the progress of world natural gas in the past four years, analyzed and judged the future development trend, and reached seven consensuses: (1) Natural gas is not only a transitional fuel, but also a basic fuel for future development. (2) Supply and demand value chain of natural gas has high flexibility and adaptability, and supply diversification has become a development advantage. (3) With the effect of the rapid increase of oil and gas price, the reversal of natural gas to coal has intensified the rapid growth of global carbon emissions. (4) Structural tension is emerging in the global LNG market, and the number of long-term agreement contracts will show an increasing trend. (5) The coordinated development of natural gas and hydrogen will accelerate the arrival of the low-carbon era. (6) Methane monitoring and leakage measurement technology in the natural gas industry will become the next important innovation. (7) Governments of various countries have continuously raised the minimum level of underground gas storage, and successively issued incentive policies to increase gas reserves and production. Based on the experience, the following suggestions are put forward for the development of China's natural gas: (1) Continue to highlight the important position of the natural gas industry, increase exploration and development, and improve supply capacity and voice;(2) To adapt to the new setup of international natural gas supply caused by the COVID-19 and the conflict between Russia and Ukraine, and to formulate overall strategies for natural gas import and export trade;(3) Attach importance to LNG business, scientifically arrange the construction of LNG import supporting facilities, and take the initiative to cooperate with natural gas resource countries;(4) The whole industrial chain of natural gas and hydrogen business should be planned and deployed together, and hydrogen and natural gas infrastructure construction should be linked up effectively;(5) Increase policy support, strengthen infrastructure construction such as underground gas storage and LNG terminal, reserve more energy to develop confidence, and build a strong defense line for energy security. © 2022 Natural Gas Industry Journal Agency. All rights reserved.

18.
Sustainability ; 14(17):10658, 2022.
Article in English | ProQuest Central | ID: covidwho-2024190

ABSTRACT

Decarbonization of the aviation sector is crucial to reaching the global climate targets. We quantified the environmental impacts of Power-to-Liquid kerosene produced via Fischer-Tropsch Synthesis from electricity and carbon dioxide from air as one broadly discussed alternative liquid jet fuel. We applied a life-cycle assessment considering a well-to-wake boundary for five impact categories including climate change and two inventory indicators. Three different electricity production mixes and four different kerosene production pathways in Germany were analyzed, including two Direct Air Capture technologies, and compared to fossil jet fuel. The environmental impacts of Power-to-Liquid kerosene varied significantly across the production pathways. E.g., when electricity from wind power was used, the reduction in CO2-eq. compared to fossil jet fuel varied between 27.6–46.2% (with non-CO2 effects) and between 52.6–88.9% (without non-CO2 effects). The reduction potential regarding CO2-eq. of the layout using low-temperature electrolysis and high-temperature Direct Air Capture was lower compared to the high-temperature electrolysis and low-temperature Direct Air Capture. Overall, the layout causing the lowest environmental impacts uses high-temperature electrolysis, low-temperature Direct Air Capture and electricity from wind power. This paper showed that PtL-kerosene produced with renewable energy could play an important role in decarbonizing the aviation sector.

19.
Atmosphere ; 13(8):1178, 2022.
Article in English | ProQuest Central | ID: covidwho-2023111

ABSTRACT

The present study investigates the response of natural gas consumption to temperature on the basis of observations during heating season (middle November–middle March) for the period 2002–2021 in Beijing, China, and then estimates temperature-related changes in the gas consumption under future scenarios by using climate model simulations from the Coupled Model Intercomparison Project Phase 6. Observational evidence suggests that the daily natural gas consumption normalized by gross domestic product is linearly correlated with the daily average temperature during heating season in the past two decades in Beijing. Hence, a linear regression model is built to estimate temperature-related changes in the natural gas consumption under future scenarios. Corresponding to a rising trend in the temperature, the natural gas consumption shows a decrease trend during 2015–2100 under both the SSP245 and the SSP585 scenarios. In particular, the temperature would increase rapidly from early 2040s to the end of 21st century under the SSP585 scenario, leading to an obvious reduction in the natural gas consumption for heating in Beijing. Relative to that in the present day (1995–2014), the natural gas consumption would show a reduction of approximately 9% (±4%) at the end of 21st century (2091–2100) under the SSP245 scenario and approximately 22% (±7%) under the SSP585 scenario.

20.
Tribology & Lubrication Technology ; 78(9):28-29, 2022.
Article in English | ProQuest Central | ID: covidwho-2012747

ABSTRACT

Natural gas is acting as a transitional fuel source as the world shifts toward fully renewable energy. Recently, Europe has confirmed this continued usage of natural gas, with the European Union voting in favor of calling natural gas a "green" or "sustainable" source of energy despite some pushback. However, there is one caveat: a further transition toward biogas or green hydrogen and other renewable gases by 2035. This is a good sign that natural gas power generation units will have a solid future in the energy mix of tomorrow.

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