China aims for renewables to account for at least 50% of its installed capacity by 2050, and energy storage would allow the country to ensure stable operation of the electric grid system.

The HyDeploy project will deliver a blend of 20% hydrogen into the natural gas supply to Winlaton, Gateshead, supplying 668 houses, a school and several small businesses, for 10 months starting in August, Northern Gas Networks said in a statement.

Meanwhile, as the benefits of grid digitization have failed to live up to expectations, the associated security risks have been very real.

"In our oils-to-chemicals business, we generated strong earnings through our integrated portfolio and superior product placement capabilities," said Mukesh Ambani, chairman and managing director of Reliance Industries.

U.S. Rig Count is up 7 from last week to 491, Canada Rig Count is down 1 from last week to 149.

Brent were up 60 cents, or 0.8%, at $74.72 a barrel , WTI were up 69 cents, or 1%, at $73.63.

The spot and long-term LNG pricing dynamics have shifted dramatically from 2020 to 2021, with record lows to record highs recorded in a period of nine months.

U.S. commercial crude oil inventories decreased by 6.9 million barrels from the previous week to 445.5 million barrels.

The European Parliament (EP) has approved the €30bn upgraded Connecting Europe Facility (CEF) programme for 2021 to 2027, with 60% for projects that help achieve the EU’s climate objectives and 15% of energy pillar funds for cross-border renewable energy projects.

In fusion, the Euratom Work Programme sets a clear strategy for EUROfusion - the European Consortium for Development of Fusion Energy.