Catalyst with Shayle Kann - Can Europe quit Russian fossil fuel by next winter?

Can Europe quit Russian fossil fuel by next winter?

03/31/22 • 50 min

1 Listener

Europe imports about 45% of its natural gas from Russia. As the conflict in Ukraine escalates, pressure is mounting for Europe to wean itself off Russian energy as quickly as possible. European sanctions against Russia have excluded the energy trade, meaning that European purchases of oil and gas – which fund about 40% of Russia’s federal budget – are in effect funding the Russian war effort in Ukraine.

So how could Europe eliminate the import of Russian fossil fuels?

In this episode Shayle talks to Princeton energy professor Jesse Jenkins about how to do it. The EU’s current plan is to cut its import of Russian gas by two thirds by the end of the year. Jesse’s energy modeling team is working on a plan to cut 100% of Russian energy imports by October 1.

Shayle and Jesse explore the immediate impact of the war in Ukraine on energy markets and the ripple effects on other markets like fertilizer, food and carbon markets.

Then they discuss the tools Europe and its allies have at their disposal in the short term, such as switching from gas to coal, ramping up heat pump installations and extending the operation of nuclear plants. They also examine a possible path for the US – decreasing domestic use of fossil fuels while increasing exports of coal and liquid natural gas to Europe.

Finally: How could this rapid shift in Europe accelerate the energy transition in the long term?

We want to hear from you! Take our quick survey for a chance to win a $100 Amazon gift card. This will help us bring you more relevant content.

Catalyst is supported by Antenna Group. For 25 years, Antenna has partnered with leading clean-economy innovators to build their brands and accelerate business growth. If you’re a startup, investor, enterprise or innovation ecosystem that’s creating positive change, Antenna is ready to power your impact. Visit antennagroup.com to learn more.

Catalyst is supported by Nextracker. Nextracker’s technology platform has delivered more than 50 gigawatts of zero-emission solar power plants across the globe. Nextracker is developing a data-driven framework to become the most sustainable solar tracker company in the world — with a focus on a truly transparent supply chain. Visit nextracker.com/sustainability to learn more.

So how could Europe eliminate the import of Russian fossil fuels?

Shayle and Jesse explore the immediate impact of the war in Ukraine on energy markets and the ripple effects on other markets like fertilizer, food and carbon markets.

Finally: How could this rapid shift in Europe accelerate the energy transition in the long term?

We want to hear from you! Take our quick survey for a chance to win a $100 Amazon gift card. This will help us bring you more relevant content.

Previous Episode

Will this carbon market boom be different?

Carbon markets of all types – avoidance, removal, voluntary, compliance – are hot. Startups are sprouting up, looking to develop, broker and verify new kinds of credits. More than a decade ago there was a similar flurry of excitement around offsets, followed by a big crash in carbon markets. Experts blamed the Great Recession, but also a lack of trust and transparency in the offsets themselves.

Will this time be different?

In this episode, Shayle talks about what’s changed with Nat Bullard, chief content officer at Bloomberg New Energy Finance. They review the persistent oversupply and trust issues in voluntary markets, and then examine the tech stack that could address them, such as web3, blockchain and regenerative finance, or ReFi. They also take a look at the new focus on removal, which is easier to verify and track than avoidance.

Also in the episode: What could carbon market prices look like in 2050? Will large financial institutions or new regulations spur companies to adopt transparent carbon accounting practices?

Next Episode

Carbon capture and storage is making a comeback

Support strong climate journalism! Donate to Canary Media to celebrate its one-year anniversary.

After a string of relatively high profile failures and cost overruns, point source carbon capture and storage (CCS) – that is, capturing carbon dioxide directly from flue stacks at industrial and power generation facilities – fell into disrepute.

Many projects were shelved. And yet, in just the first nine months of 2021 the global capacity of planned CCS projects grew 50% to 111 million tons, which would triple the current operating capacity in the world.

So why the recovery? And what might happen this time?

In this episode Shayle talks to Chris Bataille, a researcher at the Institute for Sustainable Development and International Relations, a professor at Simon Fraser University and a lead author on the industry chapter of the IPCC report that just came out this week.

Chris and Shayle talk about the state of CCS technology, the reasons for past failures, and the applications where it could work, namely chemicals, cement and certain power plants.

They examine the bottlenecks in deep saline aquifers and the capacity of these aquifers to absorb carbon dioxide. They also discuss the role of carbon capture and utilization (CCU), which could both improve the economics of CCS and displace more carbon-intensive fossil fuel extraction.

And: Will CCS lead to unnecessary emissions? They discuss upstream methane leakage and whether CCS enables polluters.

Catalyst is supported by Advanced Energy Economy. AEE is on the front lines of transforming policy that accelerates the move to 100 percent clean energy and electrified transportation in America. To learn how your business can play a key role in transforming policy and expanding markets, visit aee.net/join.

Catalyst is brought to you by Arcadia. Arcadia allows innovators, businesses and communities to break the fossil fuel monopoly through its technology platform, Arc. Join Arcadia’s mission and find out how you or your business can help turn a fully decarbonized grid into a reality at arcadia.com/catalyst.

We want to hear from you! Take our quick survey for a chance to win a $100 Amazon gift card. This will help us bring you more relevant content.