French BNP Paribas promises to cease funding shale oil and gas

12/10/2017 11:56 Renewable


The BNP Paribas Group stated its intention to end cooperation with business entities which operate in shale gas or tar sands fields.   


According to the bank officials, the transportation and export of shale oil and gas will also be affected.


The French banking giant is strongly committed to approaching climate change and backs up its earlier decisions to cut funding for coal-fired power generation and increase investment in renewables to €15 billion by 2020.


The financial institution plans to allot another €100 million for start-ups developing innovative solutions for an easy shift to the low carbon energy.


CEO Jean-Laurent Bonnafé voiced that the bank is a long-lasting partner to the energy industry and a great supporter of the budge to a more sustainable world, aiming to facilitate energy transition and contribute to a low-carbon economy. 

Baltic Pipe gas pipeline might obtain final approval in late 2018

12/12/2017 14:40:00

The final investment decision (FID) for the natural gas pipeline project between Denmark and Poland, the Baltic Pipe, might be taken no later than December 2018.


Germany on the path to have hydrogen powered trains by 2021

12/12/2017 14:30:00

Rail manufacturer Alstom plans to replace the diesel vehicles of the transport authority Elbe-Weser-Verkehrsbetriebe (evb) with hydrogen-power trains from December 2021.


Daily (12.12.2017): UK spot gas price rose 11% on colder weather and higher demand

12/12/2017 11:27:00

Oil prices increased on Monday, overcoming declines early in the session, after a North Sea pipeline was closed for repairs and investors concentrated on commodities following an explosion in New York. Brent crude futures ended $1.29, or about 2 percent, higher at $64.69 a barrel.