 |
Louisiana Light • 2 days | 87.56 | +0.00 | +0.00% | ||
|
Bonny Light • 1 day | 88.04 | -0.81 | -0.91% | ||
|
Opec Basket • 2 days | 88.72 | +0.00 | +0.00% | ||
|
Mars US • 180 days | 77.26 | -1.51 | -1.92% | ||
|
Gasoline • 10 mins | 2.654 | -0.037 | -1.37% |
|
Bonny Light • 1 day | 88.04 | -0.81 | -0.91% | ||
|
Girassol • 1 day | 89.07 | -0.57 | -0.64% | ||
|
Opec Basket • 2 days | 88.72 | +0.00 | +0.00% |
|
Peace Sour • 5 hours | 75.13 | -0.70 | -0.92% | ||
|
Light Sour Blend • 5 hours | 78.18 | -0.70 | -0.89% | ||
|
Syncrude Sweet Premium • 5 hours | 85.13 | -0.70 | -0.82% | ||
|
Central Alberta • 5 hours | 75.53 | -0.70 | -0.92% |
|
Eagle Ford • 2 days | 79.11 | +0.00 | +0.00% | ||
|
Oklahoma Sweet • 2 days | 79.00 | +0.00 | +0.00% | ||
|
Kansas Common • 2 days | 73.00 | -1.00 | -1.35% | ||
|
Buena Vista • 5 days | 88.82 | +0.60 | +0.68% |
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North Sea Nations Forge Underwater Energy Security Pact Amid Sabotage Concerns
In a landmark move aimed at fortifying critical energy infrastructure, six northern European countries bordering the North Sea have signed an agreement today to enhance protection measures for underwater assets, including gas pipelines and electricity cables. The accord comes in response to the 2022 explosions targeting the Nord Stream gas pipelines, incidents that were classified as acts of sabotage but remain unsolved.
Denmark, Belgium, Britain, Germany, Norway, and the Netherlands are the signatories to this pivotal agreement, which underscores the shared commitment to safeguarding vital energy transit routes in the region. The North Sea, with its extensive network of pipelines and cables, plays a crucial role in supplying energy to Europe, particularly in terms of oil and gas resources—and in the future, renewable energy resources as well.
Speaking on the significance of the agreement, Denmark's Climate, Energy & Utilities Minister Lars Aagaard remarked, "The North Sea has the potential to become the cradle of a renewable and secure energy supply in Europe, while supporting the road to a fossil-free future." Aagaard's sentiment echoes the broader vision of transitioning towards sustainable energy sources while ensuring the security and resilience of existing infrastructure.
Key provisions of the agreement include a comprehensive review of current protection and resilience measures, as well as the establishment of mechanisms for sharing crucial information among participating nations. By fostering collaboration and coordination, the signatories aim to mitigate the risks posed by potential threats to underwater energy infrastructure, thereby ensuring the uninterrupted flow of energy supplies across the region.
As geopolitical tensions persist and the energy landscape evolves, initiatives such as this agreement demonstrate the proactive approach of North Sea nations in safeguarding vital energy assets and advancing towards a more sustainable energy future.
By Julianne Geiger for Oilprice.com
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Julianne Geiger
Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.
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The reason is that there was no threat against their underwater infrastructure and therefore no need to forge a pact for protecting them. But having seen first hand what a sabotage operation had done to Russia's gas pipelines, they became worried of retaliation.
Whilst circumstantial evidence points the finger at the United States as being behind the sabotage, at least four of them are under suspicion for either abetting the sabotage or directly involved in the act or deliberately masking the evidence, hence their retaliation concerns.
Dr Mamdouh G Salameh
International Oil Economist
Global Energy Expert