market analysis final report v1.1 - ESA Space Weather Web Server
market analysis final report v1.1 - ESA Space Weather Web Server
market analysis final report v1.1 - ESA Space Weather Web Server
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<strong>ESA</strong> SW Programme Study Market Analysis<br />
Final Report<br />
• Impacts of problems on stock <strong>market</strong> values – all of the above issues have to be<br />
seen in the light of the bottom line, the need to retain <strong>market</strong> value and capitalisation.<br />
These forces require that all energy companies put in place risk management and mitigation<br />
strategies that deal with both the physical and ultimate financial risks.<br />
• Pipeline operators<br />
Significant sums of money invested in the infrastructure necessary to transport oil and gas<br />
from the well site to the refinery. Operators then have the task of managing the infrastructure<br />
to ensure its integrity. Previously the oil companies themselves would have performed this<br />
role but increasingly such non-core tasks have been outsourced to specialist companies.<br />
Government departments may also be involved where there are strategic national or security<br />
issues involved. In new production regions, extraction companies generally have to enter into<br />
significant discussion with government authorities to obtain extraction licenses which<br />
includes pipeline planning permission when appropriate.<br />
• Railway companies<br />
In many nations, rail is experiencing both a renaissance in terms of strategic importance but<br />
also a crisis in terms of funding and safety. UK and Germany in particular are two major<br />
economic powers that have vast infrastructure investment needs and have both experienced<br />
high profile disasters in recent years.<br />
Risk from SW is not yet a major driving issue but it can be assumed that any further threat to<br />
safety and revenues will be seriously considered.<br />
4.3.3 Requirements for SW services<br />
Magnetic storms produced by solar activity create large currents that flow between the<br />
ionosphere and the magnetosphere. These storms are highly dynamic and can induce<br />
currents in the Earth and long conductors at the Earth’s surface such as power lines and<br />
pipelines.<br />
These currents are known as Geomagnetically Induced Currents (GIC) or Geomagnetically<br />
Induced Potential (GIP) and their impacts and causes are summarised in Table 4-5. Only a<br />
few amps are required to create problems and yet GICs of up to 100 amps and more have<br />
been detected in the grounding connections of transformers in affected areas.<br />
ESYS-ESYS-2000260-RPT-02<br />
Issue 1.1<br />
28 September 2001 24 ESYS