Oil and Gas News from OilGasDaily.Com  
OIL AND GAS
EU's climate tilt tripped up by post-Soviet energy treaty
By Marc BURLEIGH
Brussels (AFP) Sept 4, 2019

Tackling climate change is a top priority for the incoming European Commission, but a decades-old energy treaty protecting fossil fuel investments is proving a tricky obstacle, experts said Wednesday.

The Energy Charter Treaty, struck in the 1990s, is meant to boost energy cooperation across borders. Initially it sought to protect investment in developing states, initially in post-Soviet states in eastern Europe.

The EU is part of the treaty -- as are its member states -- but Russia dropped out in 2009.

Now the treaty's provisions allowing companies to sue states over blocked projects has become a millstone on efforts to make the switch from greenhouse gas-emitting sources to renewable energy.

That has spurred calls for a reform of the treaty -- or even for it to be scrapped -- to give primacy to the 2015 Paris Climate Agreement meant to limit the rate of global warming.

"We've been pushing like crazy to change this treaty," Carlo Pettinato, an investment official in the Commission's trade unit, said during a panel debate in Brussels.

He admitted though that, with 50 signatory states and arbitrators outside the EU justice system in charge of the dispute resolution mechanism, "it's not going to be easy".

- Luxembourg leading reform call -

Battling climate change is a stated priority of Ursula von der Leyen, the new president-elect of the European Commission who will take charge with her team in November.

But other experts lamented that treaty change could take years, and the climate issue was too urgent to wait.

"How can you in today's situation protect investments that provenly destroy the planet?" asked Pia Eberhardt, of the Corporate Europe Observatory, a non-governmental campaign group that exposes corporate lobbying on EU policies.

She enumerated cases of corporations suing countries over stalled projects.

These included Sweden's Vattenfall power company using the treaty to demand compensation for environmental restrictions on a coal-based plant and over the phasing out of nuclear energy.

British firm Rockhopper is going after Italy for banning offshore oil drilling, Eberhardt said.

Luxembourg's Energy Minister Claude Turmes said his country was trying to build a coalition of "energy-responsible countries" to bring about changes to the treaty.

"If the EU is to be the new global climate leader, which Ursula von der Leyen spelled out, if we are to be a global leader than we need to attack and be much proactive on this treaty," he said.

rmb/dc/pvh

ROCKHOPPER EXPLORATION


Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


OIL AND GAS
Rocket attack kills six in Iraq's oil-rich Kirkuk
Baghdad (AFP) Aug 25, 2019
A rocket attack killed six people and wounded nine others overnight at a sports stadium in oil-rich Kirkuk, north of Baghdad, Iraqi security forces said Sunday. "Six civilians were killed and nine others were wounded in an attack with rocket-propelled grenades and medium-grade weapons," they said in a statement. It said the attack targeted a football stadium in Daquq in the ethnically diverse province of Kirkuk. There was no immediate claim of responsibility, but security forces pointed t ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
Researchers use AI to plot green route to nylon

New catalytic reactor turns CO2 into liquid fuel

Dangerous wild grass will be used in batteries

Biomaterials smarten up with CRISPR

OIL AND GAS
Tiny tweaks for big wins in solar cells

Materials that can revolutionize how light is harnessed for solar energy

How to have an all-renewable electric grid

SolAero to supply solar modules to Maxar for Lunar Gateway Power and Propulsion Element

OIL AND GAS
Colombia's biggest wind power portfolio purchased by AES Colombia

Growth of wind energy points to future challenges, promise

Scout obtains construction permit for 200MW Sweetland Wind Farm

E.ON announces 440 MW southern Texas windfarm

OIL AND GAS
Russia launches floating nuclear reactor in Arctic despite warnings

US Govt issues new safety rules for launching nuclear systems into space

Slovenia PM backs building second nuclear reactor

Seven bidders compete to fund Bulgaria nuclear project

OIL AND GAS
Geoengineering: 'Plan B' for the planet

Major economies drivers, victims of sea-level rise

Chilean Patagonia: an open-air lab to study climate change

Oceans turning from friend to foe, warns landmark UN climate report

OIL AND GAS
Brussels mulls car use tax to cut traffic jams

Singapore to trial driverless buses booked with an app

Seoul to fine Volkswagen over 'illicit' emissions devices

Uber shares skid as quarterly loss soars

OIL AND GAS
Iraq suspends US-funded TV over report on corruption in religious bodies

Iraq slams Bahrain statement on paramilitary base attacks

Hundreds of displaced Iraqis transferred from camp

Iraq begins probe into deadly drone attack near border

OIL AND GAS
Iran to bypass uranium enrichment maximum despite calls for rethink

EU backs US-Iran talks but says nuclear deal must stay

US blacklists suppliers of Iran missile programs

US defense chief urges Iran to hold talks with US









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.