Vanadium: The Energy Metal
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Vanadium: The Energy Storage Metal

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The world is moving to a renewable energy economy.

Solar use is growing at exponential rates, and countries like the U.K., France, and India are planning to ban gas-powered vehicles in the coming years. Even the world’s largest auto market in China is under duress from mounting pollution, and the country has ambitious plans to build up world-class renewable capacity while ditching gas-powered vehicles.

The Energy Storage Question

As the world shifts to renewables, one question remains up in the air: how will we store all this energy?

Today’s infographic comes to us from VanadiumCorp and it highlights vanadium redox flow batteries (VRFBs) – which are a breakthrough that some experts say may be the future of grid-scale energy storage.

Vanadium: The Energy Storage Metal

Vanadium redox flow batteries (VRFBs) are fairly unique in the battery world.

They work by taking advantage of the natural properties of vanadium, a metal with four different oxidation states. But rather than using the metal in a solid state, vanadium electrolyte (a liquid solution) is used for both half-cells and the configuration is divided by a proton exchange membrane. Typically, massive tanks filled with vanadium electrolyte are connected, pumping the solution through at high volumes to charge or discharge.

The Benefits of VRFBs

This unique setup gives VRFBs a few interesting advantages for something like grid-scale energy storage:

  • Extremely scalable
  • Can rapidly release large amounts of energy
  • Vanadium electrolyte is reusable, recyclable, and has a battery lifespan of 25+ years
  • No cross-contamination of metals, since only one metal (vanadium) is used
  • Cycle life is theoretically unlimited
  • Can maintain ready state for long periods of time
  • Can be charged and discharged at same time
  • Non-flammable

As a result, VRFBs can be used in a variety of energy storage applications such as peak-shaving, load leveling, microgrids, wind and solar, off-grid power supplies, and uninterruptible power supplies.

Vanadium Outlook

VRFBs are getting more attention from utilities companies, and large battery projects have already been announced.

The most notable vanadium-flow battery is probably a 200 MW system being built on the Dalian peninsula in China, which will serve 7 million residents. Costing $500 million, it’ll be used to peak-shave approximately 8% of Dalian’s expected load by 2020. This battery system will be the world’s largest, and it will single-handedly triple China’s grid-connected battery storage capacity.

According to Chinese firm Azure International, the market projection for VRFB demand (by MW) in the top 10 countries is growing at an 80% CAGR from 2013 to 2020, ultimately culminating in more than 7,000 MW of vanadium-flow capacity needed in 2020.

This demand could be even more substantial than that if the price of vanadium electrolyte could be reduced – it makes up about 30-50% of the cost of each battery alone.

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Oil and Gas

How Affordable is Gas in Latin America?

This graphic looks at gas affordability in Latin America, showing how much a liter of gas costs in 19 countries, relative to average incomes.

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How Affordable is Gas in Latin America?

As gas prices have risen around the world, not each region and country is impacted equally.

Globally, the average price for a liter of gas was $1.44 USD on June 13, 2022.

But the actual price at the pump, and how affordable that price is for residents, varies greatly from country to country. This is especially true in Latin America, a region widely regarded as one of the world’s most unequal regions in terms of its income and resource distribution.

Using monthly data from GlobalPetrolPrices.com as of May 2022, this graphic by Latinometrics compares gas affordability in different countries across Latin America.

Gas Affordability in 19 Different Latin American Countries

To measure gas affordability, Latinometrics took the price of a liter of gas in 19 different Latin American countries and territories, and divided those figures by each country’s average daily income, using salary data from Statista.

Out of the 19 regions included in the dataset, Venezuela has the most affordable gas on the list. In Venezuela, a liter of gas is equivalent to roughly 1.3% of the country’s average daily income.

CountryGas price as of May 2022 (USD)% of average daily income
🇳🇮 Nicaragua$1.3714.0%
​🇩🇴​ Dominican Republic$1.4112.6%
🇧🇷​ Brazil$1.4312.5%
🇵🇾​ Paraguay$1.3912.2%
🇵🇪 Peru$1.5310.2%
🇺🇾 Uruguay$1.929.8%
🇸🇻​ El Salvador$1.149.2%
​​🇭🇳​ Honduras$1.338.6%
🇲🇽​ Mexico$1.177.8%
🇬🇹​ Guatemala$1.447.7%
🇦🇷 Argentina$1.066.7%
​🇨🇱​ Chile$1.376.6%
🇨🇷​ Costa Rica$1.425.9%
🇨🇴 Colombia$0.585.7%
​🇵🇦 ​Panama$1.275.0%
🇪🇨 Ecuador$0.674.1%
🇧🇴 Bolivia$0.543.2%
🇵🇷​ Puerto Rico$1.352.2%
🇻🇪​ Venezuela$0.021.3%

This isn’t too surprising, as Venezuela is home to the largest share of proven oil reserves in the world. However, it’s worth noting that international sanctions against Venezuelan oil, largely because of political corruption, have hampered the once prosperous sector in the country.

On the other end of the spectrum, Nicaragua has the least affordable gas on the list, with one liter of gas costing 14% of the average daily income in the country.

Historically, the Nicaraguan government has not regulated gas prices in the country, but in light of the current global energy crisis triggered in large part by the Russia-Ukraine conflict, the government has stepped in to help control the situation.

As the Russia-Ukraine conflict continues with no end in sight, it’ll be interesting to see where prices are at in the next few months.

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Energy

Mapped: Which Ports are Receiving the Most Russian Fossil Fuel Shipments?

Russia’s energy exports have become a hot topic. See which ports received fossil shipments during the first 100 days of the Ukraine invasion

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As the invasion of Ukraine wears on, European countries are scrambling to find alternatives to Russian fossil fuels.

In fact, an estimated 93% of Russian oil sales to the EU are due to be eliminated by the end of the year, and many countries have seen their imports of Russian gas plummet. Despite this, Russia earned €93 billion in revenue from fossil fuel exports in the first 100 days of the invasion.

While the bulk of fossil fuels travel through Europe via pipelines, there are still a number marine shipments moving between ports. The maps below, using data from MarineTraffic.com and Datalastic, compiled by the Centre for Research on Energy and Clean Air (CREA), are a look at Russia’s fossil fuel shipments during the first 100 days of the invasion.

Russia’s Crude Oil Shipments

Much of Russia’s marine shipments of crude oil went to the Netherlands and Italy, but crude was also shipped as far away as India and South Korea.

world map showing the top ports receiving russian crude oil

India became a significant importer of Russian crude oil, buying 18% of the country’s exports (up from just 1%). From a big picture perspective, India and China now account for about half of Russia’s marine-based oil exports.

It’s important to note that a broad mix of companies were involved in shipping this oil, with some of the companies tapering their trade activity with Russia over time. Even as shipments begin to shift away from Europe though, European tankers are still doing the majority of the shipping.

Russia’s Liquefied Natural Gas Shipments

Unlike the gas that flows along the many pipeline routes traversing Europe, liquefied natural gas (LNG) is cooled down to a liquid form for ease and safety of transport by sea. Below, we can see that shipments went to a variety of destinations in Europe and Asia.

world map showing the top ports that received Russian liquefied natural gas

Fluxys terminals in France and Belgium stand out as the main destinations for Russian LNG deliveries.

Russia’s Oil Product Shipments

For crude oil tankers and LNG tankers, the type of cargo is known. For this dataset, CREA assumed that oil products tankers and oil/chemical tankers were carrying oil products.

world map showing the top ports that received Russian oil product shipments

Huge ports in Rotterdam and Antwerp, which house major refineries, were the destination for many of these oil products. Some shipments also went to destinations around the Mediterranean as well.

All of the top ports in this category were located within the vicinity of Europe.

Russia’s Coal Shipments

Finally, we look at marine-based coal shipments from Russia. For this category, CREA identified 25 “coal export terminals” within Russian ports. These are specific port locations that are associated with loading coal, so when a vessel takes on cargo at one of these locations, it is assumed that the shipment is a coal shipment.

world map showing the top ports that received Russian coal shipments

The European Union has proposed a Russian coal ban that is expected to take effect in August. While this may seem like a slow reaction, it’s one example of how the invasion of Ukraine is throwing large-scale, complex supply chains into disarray.

With such a heavy reliance on Russian fossil fuels, the EU will be have a busy year trying to secure substitute fuels – particularly if the conflict in Ukraine continues to drag on.

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