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Since the 1990s, financial market analysts on Global Energy Market Trends have focused strongly on evolving Energy Business Score Cards for benchmarking and valuation of petroleum systems, most critically on carbon emissions, its trading, and management of carbon energy in mid century term in a derived framework of energy lead time. It is fortunate that still growing abundance of economically recoverable natural gas and petroleum liquids give us several decades of lead time to decide on most cost effectively means and technologies, to stay within a cumulative anthropogenic carbon emission limit of 1,000 gigatonnes between 1991 and 2100. The paper derives cost effective Asian Emissions Trading Scheme through a dynamically stimulated emissions trading model to deduce effects of current emissions regulations and trading policies incorporating fossil fuel production and consumptions in energy lead time framework for 2012, when Kyoto targets need to be met. Estimates of marginal abatement costs for reducing carbon emissions lead to derive policy and procedural approaches in identifying emissions' reduction opportunities and its impact on CDM and joint implementation at hydrocarbon E&P industry. The paper is emphatically focused to analyze effects of different climate policy initiatives among Asian nations, and its contributions to Asian emissions trading scheme. Statistical modeling used in analysis predicts that CDM and JI projects help in reducing cost of meeting Kyoto targets. The paper empirically derives best strategy to reduce cost of carbon credits in Asian energy and climate strategies by including more sectors and other greenhouse gases, to allow for an unrestricted use of CDM and JI across carbon energy business. Despite limited available data in the Asian context, the paper concludes by identifying significant opportunities of emissions reductions, at carbon energy business, aligning to formulate economic reforms and legal directives for CDM & Joint Implementation under United Nations Framework Convention on Climate Change.
Renewable energies are energies that come from naturally occurring and theoretically inexhaustible sources of energy which are continually replenished and currently provide less than 14% of total primary energy in the world. While there is hope for renewables to get higher share in energy mix during next decades but in other side we face severe challenges and doubts regarding the possibility of'sustainable supply' of energy by renewable sources. Renewable energies technologies are fastest growing in the world but still not matured, costly and complicated to be developed. Environmental doubts come to minds when we expect renewable energies to resolve environmental concerns while they do not eliminate greenhouse gas emissions and conventional air pollution, as their manufacturing, transporting and operation produce emissions, consume water, disrupt land use and wildlife habitat. An increase in oil prices had positive impact on the return of most of renewable energy projects nevertheless renewable energy sector is still substantially riskier and dependent on oil price fluctuations.
Abstract Following Nigeria's global acclaim as a dominant crude oil producer and exporter, the nation's natural gas industry has demonstrated a huge potential as a strong player in the emergent global natural gas market. Although Nigeria is yet to explore directly for gas, as most of its gas discoveries are incidental to production of crude oil; the nation has one of the largest natural gas reserves in the world. Currently estimated at about 187 trillion standard cubic feet, Nigeria's natural gas reserves are rated amongst the top ten largest in the world. Distributed evenly between associated and non-associated gas, most of the nation's natural gas production has been flared or re-injected to enhance greater crude oil recovery. However, gas flaring is accompanied by considerable environmental degradation, particularly in the Niger Delta, where the bulk of the nation's oil and gas resources are found. Also, Nigeria has been blamed for the emergent global climate change through its green house gas emissions. This has serious consequences for both regional and global environmental sustainability. Consequently, the nation's policy makers decided to capture the economic benefits associated with Nigeria's huge stock of natural gas and stem the damaging tide of environmental degradation. This development has informed the nation's gas flare-out target set for 2008, and imposed on the nation's oil and gas industry. Therefore, this paper provides a holistic framework for attaining the nation's flare-out target and ensuring compliance with elimination of global greenhouse gas emissions. An Overview of Nigeria's Gas Industry Natural Gas Reserve Potential Nigeria is acknowledged as a major oil producing economy, despite this reality, the nation's real potential lies with its vast natural gas resources which remain relatively unexplored. The nation's natural gas reserves have been put at 194 trillion cubic feet (TCF) (World Bank, 2004). This places the nation as the seventh largest natural gas reserve holder in the world. Apart from the recoverable reserve estimate, there are yet-to-find gas reserves in Nigeria, given the largely unexplored position of the resources.