The five projects represent a total investment of SAR35bn (US$9.3bn) and align with Saudi Vision 2030 goals to achieve a balanced energy mix with 50% renewables and 50% gas.

The US$4bn Terra Solar project will also feature a 4.5 GWh battery energy storage system (BESS). The project is developed by Terra Solar, a subsidiary of Solar Philippines New Energy Corporation (SPNEC).

As part of the H2Hubs program, DOE is committing up to $1.2 billion of federal cost share for the Gulf Coast Hydrogen Hub—led by HyVelocity (HyV) and up to $1 billion of federal cost share for the Midwest Hydrogen Hub—led by the Midwest Alliance for Clean Hydrogen LLC (MachH2).

Brent rose 16 cents, or 0.2%, to $72.97, WTI rose 16 cents, or 0.23%, to $68.91.

Climate remains one of a few topics where it is still able to find common ground with the western countries, which imposed sanctions on its economy. Russia has among the biggest delegation at COP this year, with 900 people registered.

В ходе встречи стороны рассмотрели перспективные направления развития взаимодействия в области электроэнергетики, использовании возобновляемых источников энергии и научно-технического сотрудничества в ТЭК.

The east-route pipeline is connected to the Power of Siberia pipeline which transports Russian gas to China. A second project, Power of Siberia 2, is currently under consideration and could have a capacity of 50 bcm/year.

Next-month futures in Europe’s biggest economy surged as much as 4.4% on Monday to the highest level since October last year. The equivalent contract in France rose 4.3%.

In Germany, where nuclear power has long been a thorny political issue, operators are much less enthusiastic, despite talks of a nuclear restart surfacing in the wake of the German coalition government's recent collapse.

Southeast Asia remains highly dependent on imported fossil fuels, with such energy sources – especially coal – making up nearly 80% of the region's rising energy demand since 2010