Climate Transformed Ventures (CTV) is a methane infrastructure and origination platform company that leverages government funding and private capital to cap orphaned oil wells across the United States and Canada.
An orphaned oil well has no solvent owner of record, leaving the responsibility of capping in the hands of state and federal governments.
The EPA estimates that there are up to 3.7 million orphaned wells in North America, with the estimated cost to cap them ranging from $200bn- $300bn.
There is only $4.7bn allocated by the US Federal Government under the Infrastructure Investment and Jobs Act (IIJA).
This is the first phase of a multi-decade solution that will require the extensive deployment of private capital
We discuss just how lucky Europe got in H2 2022 to restock natural gas supplies in the face of lost Russian output, the restocking scenarios going into 2024, and the structural impediments facing the EU both in terms of accessing long-term LNG supply and the inevitability of an overreliance on coal as the transition towards renewables will be a ten-year process. Michal brings her in-depth knowledge of China as we look at scenarios around the post-COVID economic reopening and the consequences that could have on global gas demand.
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Dr. Michal Meidan is the Director of the Gas Research Programme and the China Energy Programme at the Oxford Institute for Energy Studies. Dr. Jack Sharples is a Research Fellow at OIES with expertise in the political economy of natural gas in Europe and Russia, and the supply-demand dynamics on the European gas market and the global LNG market.