Daria Karasalihović Sedlar

The urgent need for a significant reduction in global greenhouse gas emissions indicates that the change in the world’s energy mix is inevitable. In the power production sector, this would be achieved through decarbonization with renewables, and within the transport sector, this would be achieved by switching to alternative fuels and electric vehicles. However, this transition is neither fast nor cheap, and it will be gradual. The main goal of this article is to propose a feasible change in the present energy mix and to compare natural gas with other fuels used in power production and transport. The strengths, weaknesses, opportunities, and threats of the current system (traditional fossil fuels) and the potential future system (higher share of natural gas) in energy generation and transport were identified, and the influence of recent global trends was analyzed. Natural gas seems to be a viable solution that can help in the transition to a zero-carbon-emissions society.

The EU considers carbon capture and storage (CCS) technology as an option for achieving climate goals, but its cost remains appreciable. Therefore, the purpose of this research was to investigate the implementation of a ton-based incentive system for CCS in the EU using Croatia as an example based on an analysis of the existing legislative framework in the EU and relevant tax credit provisions in the USA. A novel methodology for the design of the incentive system is presented in the form of partial allocation of the state’s auction revenues from the EU emissions trading system (ETS) into the CCS fund for five years. The CCS fund assets then incentivize the capture site for 10 years. The incentives are determined for each emitter in cement, electricity, paper and pulp, glass, oil refining, and petrochemical sectors based on varying European Union allowance (EUA) prices, CCS fund sizes, and CO₂ emission scenarios. In addition to designing the methodology, a novel method for forecasting CO₂ emissions is applied using geometric Brownian motion. The calculated incentives are categorized as underperforming, optimal, or overperforming, with upper and lower limits set to 80 and 10 EUR/t. The results are optimistic, since all sectors can be efficiently incentivized within the defined boundaries, meaning that the incentive system can be applied to all member states. The contracting of the incentives is proposed through carbon contracts for difference to avoid irregularities. Also, regulatory amendments are proposed so that emitters with emissions higher than 100 kt would have to consider CCS. Finally, the contributions are presented by proving the feasibility of the incentive system together with demonstrating its applicability to all member states.

This paper analyses gas consumption in hotels on the Adriatic coast, comparing data on natural gas and liquefied petroleum gas (LPG) consumption by hotel size. The research hypothesis is that by switching from LPG to natural gas, not only can a reduction in emissions be achieved in the hospitality industry, but there are also significant economic benefits. The research objectives included a regression analysis for various factors affecting gas consumption. The analysis showed a medium–strong relationship between the variables, which is a novelty for energy trends in the hospitality sector. By converting from heating oil to natural gas, hotels can achieve significant financial savings. It was also calculated that this would reduce the total energy consumption costs. Measures taken by the hospitality industry will have a positive impact on guest perception and could be used as a promotional tool under the “green hospitality” label.

The main objective of the paper was comparative analyses of natural gas quantities delivered through the existing pipeline capacities in the last decade and new pipeline capacities for the prediction of possible future flows of gas import to Europe. Changes in physical flows have been influenced by European energy strategies that became green oriented resulting with a high amount of non-utilized transmission capacities. The research findings have shown that there is a significant decrease observed in transit of Russian gas through Ukraine in 2020 than previously. Concerning the high increase of LNG import to Europe in the same year, the start of operation of TurkStream, planned start of operation of Nord stream 2, authors project the gradual decrease of transit of Russian gas through Ukraine until the year 2025 with the total stop of transit of Russian gas until the year 2030. The change of supply routes will be also under the economic influence of low gas prices and coal and gas fuel switch until 2030 in the West EU, and after 2030 in the South Eastern European region. In the short-term period transit system for natural gas from Russia via Ukraine will be necessary for supplementing coal with natural gas in the energy mix.

Hydrocarbon exploration and production activities are basic to the functioning of the oil and gas industry, while concession contracts and fees are central concepts in the aforementioned activities. The authors consider several questions regarding these concepts, such as: what is the legislative, institutional, and fiscal framework in certain European countries regarding hydrocarbon exploration and production? What are the major differences between them? Finally, is there room for improvement of the framework in the Republic of Croatia? To answer these questions, the authors contacted some of the relevant institutions and accessed official government gazettes, institution websites, legal aggregators, journal articles, books, and different legal publications regarding the oil and gas industry for several European countries, namely the Kingdom of Norway, the Russian Federation, the Republic of Austria, and the Republic of Croatia. As a result, this paper presents an overview of legislation, institutions, concession contracts, taxes, and fees for each of the aforementioned countries. The authors conclude that the Republic of Croatia could benefit from applying some foreign solutions in its own legislative and fiscal framework, i.e., using a sliding scale for royalty calculation and simplifying some administrative procedures.