US lifts some sanctions on Russian oil

Doesn't the EU still import Russian gas?


Russian gas imports to the EU jump by 18% in 2024, despite plan for 2027 phase-out | Ember

ember-energy.org ember-energy.org

www.reuters.com

Putin says energy crisis has arrived but Russia is ready to work with Europe

Russian President Vladimir Putin said on Monday that the U.S.-Israeli war ‌on Iran had triggered a global energy crisis and cautioned that oil production dependent on transport through the Strait of Hormuz could soon come to a halt.
www.reuters.com www.reuters.com
 
The EU imports a continuously declining amount of Russian gas. It’s down from about 40% a few years ago to about 12% now. The plan is to phase this out completely by 2028. I think it’s fair to say that stopping those imports overnight after Russia’s invasion of Ukraine would have been catastrophic for Europe. It simply wasn’t an option.

The US volte face, on the other hand, has been brought about by the Trump oligarchy’s brainless war in Iran (as with most US sorties, there appears to be no day-after plan.) and its affect on shipping.

So, I don’t think you’re comparing like with like.

D.
 
Dinarius said:
So, I don’t think you’re comparing like with like.
Click to expand...

Just making an observation - although it's good to see that the "Lord make me chaste but not just yet," approach is alive and well.

If only we had our own gas resources to save us from the grief and cost...

www.independent.ie

John Mulligan: So much for the ‘Middle East’ of renewables, energy security in Ireland is still a joke

For the second time in less than five years, Ireland’s Achilles’ heel has been starkly exposed.
www.independent.ie www.independent.ie

There’s already one field that could be exploited – Barryroe. A proven oil and gas field about 50km off the coast of Cork, it’s believed to contain billions of euros worth of oil and gas.

Lansdowne Oil and Gas owns 20pc of the Barryroe field. It is pursuing a $100m-plus action against the Government for not granting permission to develop the prospect. That decision was taken in 2023 by Eamon Ryan.
 
Barryroe was first explored in the 1970s. What happened in the 50 years between that and Ryan becoming minister?

Licences were issued. The company repeatedly tried to raise capital. Investors didn’t come on board and several international partnerships collapsed. So the real barriers were commercial viability and market confidence.

Even if a licence had been granted in 2023, development timelines mean gas production would likely not begin until 2030 or later. At peak output the field would supply the equivalent of less than 4 years of Ireland’s current gas demand. In reality it would probably be less, because:
  • Our energy demand will likely be higher by then
  • Some production would be exported rather than used domestically
So the fantasy that Barryroe would have meaningfully insulated Ireland from recent energy price shocks doesn’t stand up to scrutiny.
 
arbitron said:
Licences were issued. The company repeatedly tried to raise capital. Investors didn’t come on board and several international partnerships collapsed. So the real barriers were commercial viability and market confidence.
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Yes but all that happened in the cheap oil and gas era after the financial crash and before covid when capital was scarce and risk adverse. By the time all those hurdles had been overcome eamon ryan torpedoes the whole project by refusing a drilling licence on spurious grounds. If it was any other country that would not have happened , it would have received massive publicity and ryan and the licence would have been granted despite eamon ryan. Could you imagine that happening to a prospect of proven oil in the north sea, No?
 
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