Photo: corlaffra / Shutterstock By Mathew Carr (Bloomberg) -- A group of U.K. North Sea oil and natural gas producers face an ambitious government-mandated target to cut their emissions as soon as 2025 as the nation seeks to make more real its ambition for net-zero fossil fuel pollution by the middle of the century. The U.K. government has set a goal of zeroing out net … [Read more...]
Credit Suisse, Others Back Initiative to Factor CO2 Cuts into Shipping Finance
By Jonathan Saul LONDON, Jan 30 (Reuters) - Credit Suisse, BNP Paribas and French public investment bank Bpifrance are the latest lenders to join an initiative to link provision of shipping finance to cuts in carbon dioxide emissions. Global shipping accounts for 2.2% of the world's CO2 emissions and the industry is under pressure to reduce those emissions and other … [Read more...]
New Study Casts Shadow on LNG Fuel’s Climate Footprint
By Jack Wittels and Akshat Rathi - (Bloomberg) --One of the shipping industry’s great hopes for improving its environmental performance -- engines powered by liquefied natural gas -- won’t offer the benefits that many vessel owners are hoping for. That’s the conclusion of a nonprofit that analyzed the emissions from different types of vessels that use the fuel. Some types of … [Read more...]
Gas Export’s Dirty Secret: A Carbon Footprint Rivaling Coal’s
By Catherine Traywick, Stephen Cunningham, Naureen Malik and Dave Merrill (Bloomberg) --In May, while President Donald Trump toured a new $10 billion plant designed to prepare natural gas for export, he made a vow. Such facilities would be good for the environment, he said, or they won’t get approved. The president has greenlit 11 projects so far, bringing the U.S. total to … [Read more...]
Shipping Players Look to Cut Carbon Emissions with Ammonia Fuel
By Jonathan Saul LONDON, Jan 15 (Reuters) - A shipbuilder and engine maker are among leading companies looking to develop a vessel that can run on ammonia as part of efforts to speed up carbon reductions in shipping through cleaner fuel options, officials said on Wednesday. The new project aims to design an oil tanker that can be fuelled with ammonia and whose technology can … [Read more...]