Europe

By repurposing Italy’s depleted Porto Corsini Mare Ovest offshore gas field for CO2 storage, Eni and Italian grid operator Snam have positioned the Ravenna CCS project to play a major role in the EU’s development of more than 50 mpta of CO2 storage capacity by 2030.

At peak, annual production from the two fields offshore Italy is expected to reach 1.5 Bcm.

The 2-day event hosted in Turin, Italy, provided a common platform across various disciplines, spotlighting the notable scientific and technical advancements in the energy transition.

JPT’s first year of publication was one of groundbreaking events that would transform the global petroleum industry. A recap of developments in 1949 emphasizes the high hopes attached to the industry—and the ambitious goals of the new magazine.

The act aims to create safeguards around general purpose artificial intelligence, limit the use of biometric identification systems by law enforcement, and ban social scoring the untargeted scraping of facial images from CCTV footage to create facial recognition databases.

The US has had a lackluster response to the emergence of the technology, currently lacking any comprehensive roadmap for adoption, which translates into a low adoption rate.

The US accounted for 75% of global growth in LNG liquefaction capacity last year as Europe’s worldwide imports jumped 66%, according to the International Gas Union.

Energy security in Europe—and globally—now rests on US natural gas exports. Europe’s shift from Russian gas to other supplies has dramatically and permanently changed global gas trade and energy markets.

The Russian/Ukrainian conflict has shown that a division between energy-transition rhetoric and reality can lead to profound global consequences by creating an imbalance in nations’ access to diverse flows of energy. The Energy Basket composition is determined by the demands and fluidity of the grid, as opposed to high-minded rhetoric.

Europe is providing a stark look at the vagaries of geo- and energy politics and how quickly complacency can be shattered. Will its lessons learned be heeded by the rest of the world?