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The ongoing global #energy crisis and resultant rising energy costs continue to challenge users and governments across the globe. Each country is implementing its own short-to-medium term mitigation strategy in attempts to address the country’s specific issues.
#Germany is in the process of fast-tracking opportunities to import gas from sources other than Russia since halting its gas supply from that country. Additionally, Germany completed the build and commissioning of an LNG importation terminal (in a record <200 days!), just in time for the impending winter (click here to read the article).
Across the globe in #Australia some federal governments reacted to the crisis with proposed gas caps at A$12.00 per Giga Joule (click here to read the article).
This response was met with strong resistance from Australian energy producers such as Senex Energy Pty Ltd. Senex CEO Ian Davies challenged the Australian government’s response (click on the image below to watch the Sky News interview) and cautioned that this cannot be a long-term solution to the current crisis.
Ian Davies’ sentiments were also echoed in another recent interview with Santos Ltd, another major player in the Australian energy market (click here to read the article - subscription only).
Despite concerted efforts to wean the world off fossil fuels, it is recognised that the current renewable energy supplies and infrastructure cannot, in the short term, meet the worldwide energy demands.
Renewable and sustainable alternative energy sources, even with significant investments from private companies and with support from local and state governments, will continue to have to be supplemented by more conventional energy sources, for the foreseeable future.
Until such a time when governments decide on the best short- and long-term strategies to meet local and global demand, whilst curbing the ever-increasing energy prices, many questions remain to be answered:
Will renewable energy supply ever be able to meet the base-load demand?
How will we fill the gap between base-load and peak demand?
How will we supplement short falls in renewable energy during times of crisis or in adverse conditions?
What can countries with limited domestic resources, e.g. Mongolia, learn from the various approaches taken to future proof their own position and access to resources?
How should new entrants to the energy industry develop and structure their own emerging energy industry?
Etc.
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