Total Russian pipeline exports to Europe in January via the two remaining major supply routes were 36% down on deliveries in December and 79% lower year on year.

The transition to a low-carbon world requires a range of other energy sources and technologies, including low-carbon hydrogen, modern bioenergy, and carbon capture, use and storage.

The cold spell next week signals the possibility of heavier withdrawals from the region’s gas storage sites, though inventories are still almost 73% full and well above average levels of the last five years.

Benchmark futures fell as much as 3.5%. While the continent’s gas inventories dropped last week amid a cold spell, they are still far above historic averages.

The UAE has an installed capacity of 42 GW (end of 2021), with 35 GW of gas, 2.8 GW of nuclear and 2.7 GW of solar.

According to the latest issue of FERC's monthly "Energy Infrastructure Update" (with data through November 30, 2022), "high probability" additions by solar to U.S. generating capacity between December 2022 and November 2025 will total 72,809 megawatts (MW).

Dutch front-month futures, were 0.2% lower at €66.80 a megawatt-hour by 8:58 a.m. in Amsterdam, after rising as much as 3.1% earlier.

Out of the total, €9bn will go to gas infrastructure, including €6.3bn in gas transportation (including the upgrade of the 430 km Adriatic Line onshore pipeline), €1.4bn in LNG infrastructure (purchase of of two new FSRU-based LNG terminals and development of related infrastructure), and €1.3bn in the expansion of gas storage capacity.

Preliminary production figures for December 2022 show an average daily production of 1 983 000 barrels of oil, NGL and condensate.

Dutch front-month futures, Europe’s gas benchmark, were 2.8% lower at €59 a megawatt-hour by 8:29 a.m. in Amsterdam.