energy

Egypt is on the threshold of becoming a natural gas and electricity export hub, a development which, if it materializes, carries the potential to radically reconfigure the pattern of energy connectivity between Europe, Africa, and the Middle East. Reorienting the energy architecture at the intersection of three continents, Egypt’s program to develop its energy exports has already started to reshape geopolitics from the eastern Mediterranean to the Horn of Africa.

On August 9, President Alyaksandr Lukashenka will seek his sixth term in office. He has ruled over the country for a quarter-century, relying on a mix of repression, information control, and Russian subsidies. Past elections were foregone conclusions. But this one is different: the coronavirus epidemic has exposed Lukashenka’s incompetence and animated Belarusian civil society. No matter how the votes are counted, it will be remembered as an important moment in Belarus’s political history. 

Gas discoveries in the Eastern Mediterranean have been enthusiastically received by international observers, although the current price dynamics advises caution. This commentary both explores the opportunities of political and economic collaboration for the states of the region and beyond, and analyses the financial hazards of gas extraction and selling in a global scenario characterised by low prices and decreasing demand.

Already in the 1990s, Jeremy Rifkin was predicting an industrial revolution in which we would abandon fossil fuels and satisfy our energy needs with hydrogen. Thirty years later, Rifkin's revolution has still not happened and hydrogen has been a kind of ‘sleeping beauty’ in the energy arena.

Hydrogen has undeniable advantages as its combustion produces energy but no greenhouse gases. Moreover, burning hydrogen does not generate pollutants such as particulates, NOx and SOx.

There are striking analogies between the impact of COVID-19 and climate change. The novel coronavirus has shown us that we are all connected globally. The same applies to climate change. Viruses and greenhouse gases do not respect borders.

Both COVID-19 and climate change are going to hurt economic growth globally and as in every crisis the weakest will suffer the most. This should convince decision-makers that initiatives to fight these challenges must be implemented swiftly and should be globally coordinated.

During the past few weeks, the oil market experienced unprecedented volatility. On 20 April, “the Black Monday”, the price of the West Texas Intermediate fluctuated between -40 USD and positive values.

The coronavirus – officially known as COVID-19 – crisis has escalated dramatically over the past few weeks, in a way that has shocked billions of people, and taken many politicians around the world by surprise.The economic repercussions of this crisis have plunged the global oil and stock markets to record lows, while the measures taken by governments and central banks to contain the situation were unprecedented.

The sudden plunge of oil prices that took place earlier this month in a context of global coronavirus crisis and a Saudi-Russian price war, has brought the price per barrel below $US 30.