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S&P Global Platts Launches Crude Carbon Intensity Calculations And Daily Carbon Offset Premiums

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SINGAPORE and LONDON and NEW YORK, Sept. 26, 2021 /PRNewswire/ — S&P Global Platts (Platts), the leading independent provider of information, analytics and benchmark prices for the commodities and energy markets, today announced that commencing October 1st, it will launch the first ever daily carbon offset premiums alongside monthly carbon intensity calculations for 14 major crude fields around the world. The marginal carbon intensity (CI) calculations for different oil fields will help producers, investors, shareholders and downstream purchasers better understand the emission attributes of the crude where over time the carbon intensity of the production process can become its own attribute of the crude itself, like the density of the crude and how much sulfur is included.

Increased scrutiny of the upstream carbon intensity associated with the production of fossil fuels has led to investors, consumers and producers looking to reduce their carbon footprint or emissions, which has resulted in a growing demand for “low-carbon crude”. Calculating the carbon intensity of different commodities has become one of the ways the market has started to measure greenhouse gas (GHG) emissions from specific types of production. Oil produced with a lower amount of GHG emissions has a lower carbon intensity than crudes produced with higher emissions. In turn, crudes that are produced with a higher volume of GHG emissions have a higher carbon intensity. Hence high CI crudes will carry a greater carbon intensity premium and require a greater volume of voluntary carbon credits to offset emissions than crudes with a lower CI.

Deb Ryan, Head of Low Carbon Market Analytics at S&P Global Platts, said: “Oil and gas will remain part of the energy mix for decades to come. In order for the world to meet ambitious emissions reduction targets, a premium value needs to be associated with the lowest carbon intensity oil and gas assets as these fossil fuels continue to play a role in the overall energy mix. By launching carbon intensity values and price premiums, Platts is bringing much needed transparency into the market. Awareness of carbon intensity values – while working in tandem with carbon markets, both voluntary and compliance-based, will accelerate investments into projects that will reduce or avoid greenhouse gas emissions for the future.”

Paula VanLaningham, Global Head of Carbon at S&P Global Platts, said: “Interest from the market on carbon intensity, and recent trades to account for carbon emissions are important steps in the right direction. Calculating carbon intensity for oil fields allows a greater understanding of the respective carbon footprint, which enables market participants to focus on utilizing the lowest carbon assets. Significantly reducing emissions generated from the oil and gas industry is critical to mitigating the effects of climate change. Our new upstream carbon intensity calculations provide new transparency in an important first step to drive further evolution in this area.”

From October 1, Platts will begin publishing monthly assessments of crude oil field carbon intensity in kilograms of carbon dioxide equivalent per barrel of oil equivalent (kgCO2e/boe); monthly assessments of transportation carbon intensity along one relevant route per crude in kilograms of carbon dioxide equivalent per barrel (KgCO2e/b); and daily assessments in $/boe and $/b respectively using the daily Platts Carbon Removal Credit (CRC) voluntary carbon credit assessment.

Platts’ upstream carbon intensity calculation measures the impact of greenhouse gas emissions from well production to the storage terminal, and is designed to reflect the value of upstream production carbon intensity for a specific crude grade coming from an oil field. Platts looks at production, flaring and venting, maintenance activities, production processing and transport to the storage hub to identify the main sources of emissions, relevant to specific operations. Emissions generated during the exploration and drilling stages are currently not included as part of the Platts upstream CI calculation. Platts uses proprietary research and analysis to calculate results, with the Oil Production Greenhouse Gas Emissions Estimator (OPGEE) 3.0 model as the foundation.

Platts’ midstream carbon intensity calculation measures the carbon intensity for one transport route per crude from the storage terminal to the most likely refining hub.

Platts Carbon Intensity Premiums are calculated in $/boe and $/b respectively, with the value of the CI premium calculated using the daily Platts Carbon Removal Credit Assessment (Platts CRC). To learn more about the Platts CRC assessment please visit: method_carbon_credits.pdf (spglobal.com)

The table below shows the carbon intensity (CI) for each field included in this release. This allows each field to be compared, where high CI represents higher emissions per volume of oil produced. For example, the Midland Basin in the Permian has a high carbon intensity, hence higher emissions than the Delaware Basin in the Permian.

The CI premium is the premium that a buyer would pay to offset the GHG emissions generated through the production of each crude. The $20 carbon price represents reforestation with a high number of associated co-benefits, while the $50 carbon price moving closer to tech-based carbon credit pricing, which includes CCUS (Carbon Capture Utilization and Storage).

Crude Grade

July marginal upstream CI (kgCO2eq/boe)

Sulfur %

API

CI Premium $20 carbon in $/boe

CI Premium $50 carbon in $/boe

Middle East Fields

Kirkuk (Iraq)

58.84

2.24

36

1.177

2.942

Ghawar (Saudi Arabia)

18.16

1.96

34

0.363

0.908

Africa Fields

Girassol (Angola)

14.86

0.34

32

0.297

0.743

Europe Fields

Tengiz (Kazakhstan)

19.26

0.51

46.4

0.385

0.963

Johan Sverdrup (Norway)

3.73

0.81

28

0.075

0.187

Ekofisk (Norway)

11.18

0.21

38.4

0.224

0.559

North American Fields

Cold Lake (Canada)

81.87

3.5

20.73

1.637

4.094

Bakken (US)

30.86

0.07

42.24

0.617

1.543

Eagle Ford (US)

17.55

0.1

45.74

0.351

0.878

Mars-Ursa (US)

14.78

1.92

28.8

0.296

0.739

Permian Delaware (US)

17.36

0.05

44.67

0.347

0.868

Permian Midland (US)

19.97

0.04

39.37

0.399

0.999

Latin America Fields

Tupi (Brazil)

24.69

0.36

28

0.494

1.235

Cantarell (Mexico)

18.37

3.27

22

0.367

0.919

About S&P Global Platts

At S&P Global Platts, we provide the insights; you make better informed trading and business decisions with confidence. We’re the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil, gas, LNG, power, petrochemicals, metals, agriculture and shipping.

S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.platts.com.

SOURCE S&P Global Platts

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Source: https://www.prnewswire.com:443/news-releases/sp-global-platts-launches-crude-carbon-intensity-calculations-and-daily-carbon-offset-premiums-301385190.html

Energy

People’s Daily Online: uma pesquisa do Instituto de Zoologia de Kumming mostrou um aumento estável da população de pavões verdes, uma espécie ameaçada de extinção

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O pavão verde é uma espécie de ave nativa da China. Ela foi listada como espécie ameaçada de extinção em 1988, como vulnerável em 1994, e foi atualizada para espécie ameaçada em 2009 na Lista vermelha de espécies ameaçadas da IUCN.

Para proteger e salvar o pavão verde selvagem, o governo de Yunnan o listou como uma “Espécie com população minúscula” na província de Yunnan em 2009, destinou fundos especiais e adotou uma série de medidas para fortalecer a proteção do pavão verde e do seu habitat. Enquanto isso, o trabalho de construção de uma base de inseminação artificial com a ajuda do centro de reprodução e resgate da vida selvagem de Yunnan e a realização de pesquisas sobre inseminação artificial com a cooperação de unidades de pesquisa científica relevantes alcançaram sucesso preliminar. Depois que o número da população de pavões verdes gerados por inseminação artificial atingir um determinado nível, a domesticação no campo e outros trabalhos serão iniciados, e também serão elaborados planos para soltar o pavão verde na área de distribuição em potencial.

Graças às medidas de proteção eficazes, a população do pavão verde está estável e aumentando. Os dados mostram que Yunnan tinha cerca de 485 a 547 pavões verdes em 2018, e 555 a 600 indivíduos de 2019 a 2021. Entre eles, os pavões verdes selvagens estavam mais concentrados nas áreas do vale da parte de cima e do meio do rio Yuanjiang, onde a população também é a maior. De acordo com os resultados de câmeras infravermelhas e monitoramento por vídeo em várias reservas da natureza, nos últimos anos, há uma tendência de mudança e crescimento de algumas das áreas em que o pavão verde de Yunnan habita.

Contato: Zhao Jian, Li Faxing
Tel: 0086-871-64184120
E-mail: [email protected]

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FONTE People’s Daily Online

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Source: https://www.prnewswire.com:443/news-releases/people-s-daily-online-uma-pesquisa-do-instituto-de-zoologia-de-kumming-mostrou-um-aumento-estavel-da-populacao-de-pavoes-verdes-uma-especie-ameacada-de-extincao-819339436.html

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Energy

Segunda Conferência Ministerial de Energia da Rota e Cinturão é realizada em Qingdao

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A iniciativa especifica o papel da energia eólica, solar, hídrica, biomassa, nuclear e outras formas de energia verde para a implementação do Acordo de Paris e o Plano de 2030 para o Desenvolvimento Sustentável das Nações Unidas, ressaltando que a energia verde está se tornando um importante impulsionador para o desenvolvimento econômico global e trará oportunidades sem precedentes para a cooperação mutuamente benéfica entre os países.

A iniciativa adota o princípio “responsabilidades comuns, mas diferenciadas (CBDR)”, clamando pelo repeito ao direito de cada país de escolher seu próprio caminho para a transição energética. Ela enfatiza a necessidade de maior apoio aos países em desenvolvimento em termos de fundos, tecnologia e capacidade de construção para um desenvolvimento mais equilibrado e ampliado de energia verde.

A iniciativa exige ações conjuntas para apoiar o desenvolvimento de energia verde e de baixo carbono em países em desenvolvimento. As tarefas específicas incluem a definição de planos e metas mais ambiciosos de desenvolvimento de energia verde, a melhoria da confiabilidade e da resiliência do fornecimento de energia verde e a criação de um ambiente mais atraente para o investimento em energia verde.

Contato:Zhu Yiling
Tel.:+86-532-85911619
Site:http://www.qingdaochina.org
Facebook:https://www.facebook.com/qingdaocity
Twitter:https://twitter.com/loveqingdao

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FONTE Stadt Qingdao

SOURCE Stadt Qingdao

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Source: https://www.prnewswire.com:443/news-releases/segunda-conferencia-ministerial-de-energia-da-rota-e-cinturao-e-realizada-em-qingdao-847051936.html

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Energy

LONGi announces “Net-zero Plant” pledge at UN biodiversity conference

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With the challenges of climate change and biodiversity loss growing, the realization of global sustainable development has reached a crossroads. As the only solar energy company invited to attend the 15th meeting of the Conference of the Parties to the Convention on Biological Diversity (COP15), LONGi firmly believes that photovoltaics can change the earth’s ecology and contribute to biodiversity protection.

“Climate change has an all-round impact on biodiversity, and unreasonable energy development modes represent a key factor leading to climate change and increasing biodiversity issues,” said Li, going on to add that LONGi is a staunch supporter of climate action, in the belief that photovoltaics plus energy storage can be a powerful weapon to mitigate climate change. The company has taken the lead in promoting the reduction in cost and increase in efficiency of photovoltaic products, reducing the cost of photovoltaic power generation by more than 90% over the past decade, providing technical support for the achievement of carbon peak and neutrality goals.

LONGi launched its “Solar for Solar” concept in December 2018, based on manufacturing photovoltaic products driven by photovoltaic power generation, with the objective of extending the role of PV in ecological restoration. The concept had originated in Yunnan Province, where LONGi was the first PV company to establish a base, going on to play a leading role in the development of the province’s new energy industry.

In 2020, LONGi successively joined RE100, EV100, EP100 and Scientific Carbon Target (SBTi), becoming the only Chinese solar technology company to join four international initiatives at the same time. The company’s Baoshan production base, in effect the first “Net-zero Plant”, was also a concrete implementation of the four initiatives, and can be viewed as the starting point for “Net-zero LONGi”.

Yunnan is the province with the most abundant green energy in China. Installed capacity  accounts for 85%, with power generation from green energy reaching 90%, laying a very solid foundation for building a net-zero plant.

“We are planning on two years to achieve zero emissions within the operational scope of the LONGi Baoshan base by purchasing green power, energy-saving technological transformation and carbon emission offset measures.” Li divided the realization of the “Net- zero Plant” into four steps: Firstly, ensuring that 100% of the Baoshan base utilises green power throughout the year; secondly, completing the production technology transformation of the base’s carbon deposition materials to significantly reduce natural gas leakage; thirdly, promoting green production in the base and, finally, purchasing Chinese Certified Emission Reduction (CCER) to offset carbon emissions that cannot be completely eliminated.

Li concluded: “LONGi will always be a defender of and contributor to ecological harmony, sparing no effort to achieve net-zero targets, promote global energy transformation and join hands with partners from all walks of life to jointly realize this vision.”

SOURCE LONGi Solar

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Source: https://www.prnewswire.com:443/news-releases/longi-announces-net-zero-plant-pledge-at-un-biodiversity-conference-301402900.html

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Energy

Sinopec coloca em operação o maior cluster de armazenamento de gás do norte da China com fornecimento de dez bilhões de metros cúbicos de armazenamento de gás

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A instalação de armazenamento de gás tem capacidade de 10,03 bilhões de  metros cúbicos e será uma importante garantia de recursos para armazenamento de gás e geração de energia em horários de pico do inverno até a primavera na região norte da China e na bacia do rio Amarelo, além de garantir um suprimento de gás estável.

O cluster de armazenamento de gás Zhongyuan da Sinopec agora tem três blocos, o Wen 23, o Wen 96 e o Wei 11. A instalação de armazenamento de gás Wei 11, que agora está instalada e em funcionamento, é um componente fundamental para estabelecer o cluster de armazenamento de gás natural que chega a dez bilhões de metros cúbicos. O bloco está localizado na junção das províncias de Henan e Shandong e tem capacidade projetada de 1,009 bilhão de metros cúbicos. A maior capacidade de geração de energia em horários de pico diário da instalação de armazenamento de gás Wei 11 é de cinco milhões de metros cúbicos, o que pode atender às demandas de gás de dez milhões de residências todos os dias.

Além disso, a Sinopec terá suas instalações de armazenamento de gás Wen 13 West e Bai 9 na região do campo petrolífero de Zhongyuan instaladas e em funcionamento até o final deste ano, após concluir a construção e injeção de gás, adicionando uma capacidade de armazenamento de gás estimada em 1,116 bilhões de metros cúbicos, aumentando ainda mais os recursos da empresa em armazenamento de gás e geração de energia em horários de pico.

O armazenamento de gás é um “banco de gás natural” subterrâneo, uma infraestrutura de energia que integra geração de energia em horários de pico sazonais, fornecimento de gás em casos de acidente de emergência e reservas nacionais de energia estratégica. À medida que a proporção de gás natural continua a expandir na estrutura de consumo de energia da China, os picos e vales do fornecimento de gás natural, bem como as diferenças sazonais, estão se tornando cada vez mais evidentes. O armazenamento de gás pode “depositar” o excedente de gás natural no mercado e “empurrar” o tempo de escassez de abastecimento durante a estação de aquecimento no inverno para garantir a geração de energia em horários de pico de demanda por gás natural.

A Sinopec continua acelerando a construção de instalações de armazenamento de gás e aprimorando os recursos de armazenamento de gás e de geração de energia em horários de pico na China. A empresa está se preparando para concluir projetos importantes, incluindo o cluster de armazenamento de gás Zhongyuan e a instalação de armazenamento de gás Huangchang na província de Hubei e muito mais, após a conclusão das instalações de armazenamento de gás, incluindo Yong 21, na província de Shandong, Wei 11, na região do campo petrolífero de Zhongyuan, Guxi, na província de Jilin e Qingxi, na província de Sichuan, expandindo continuamente a escala de armazenamento de gás natural e aprimorando efetivamente a capacidade de armazenamento e os recursos de geração de energia em horários de pico de gás para garantir o fornecimento de gás natural.

Para obter mais informações, acesse Sinopec.

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Source: https://www.prnewswire.com:443/news-releases/sinopec-coloca-em-operacao-o-maior-cluster-de-armazenamento-de-gas-do-norte-da-china-com-fornecimento-de-dez-bilhoes-de-metros-cubicos-de-armazenamento-de-gas-881799772.html

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