February 4, 2022

Multi-month trend of record-high prices indicating global gas market distortion

Dramatic growth in prices on the global gas and electricity markets have led to a crisis that has already been analysed far and wide for months; however, the spectrum of causes and consequences of this situation has still not been adequately elaborated. Namely, analysts have been mostly neglecting that “echo of idealism” of energy policy (focused on the goals of a low-carbon society, but inadequately on a well-managed energy transition and energy security and sustainability issues) has finally contributed to an exceptional growth in the prices in energy markets. The increase in prices amounting to a few hundred per cent jeopardises the economy and households. It indicates a distortion of energy markets while implying the need to re-examine the sustainability of existing energy paradigms.

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New Compressed Natural Gas (CNG) Filling Station Opens

Citizens of Slavonski Brod on 26 October got a new compressed natural gas (CNG) filling station. This is the first self-serve (unattended) and fully automated CNG filling station of the five that are already operating in Croatia. The natural gas is compressed at 250 bars and combustion of this type of gas is less harmful to the environment and contributes to reducing air pollution (less nitrogen oxide, carbon monoxide and particulate matter – PM). CNG takes up little space and is therefore a suitable fuel for automobiles, but also for commercial vehicles such as trucks and buses. This energy achieves significant financial savings ranging from 30 to 40% compared to vehicles powered by petrol or diesel engines.

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