The main negative effect for consumers is that energy systems become less predictable and less stable as the share of RES in their structure grows bigger. Generation of power from RES depends on weather and lacks stability. For instance, this factor had a significant influence on the European energy market in 2021.

Austrian oil company OMV is one of Russian gas giant Gazprom's partners in the pipeline project connecting Russia to Germany, which has been completed but is not yet operational as it is awaiting German and EU regulatory approval.

В ходе переговоров обсуждались ключевые проекты и текущее развитие отношений государств в топливно-энергетической сфере, в том числе в части добычи и транспортировки нефти и природного газа.

Stocks were now at 35%-36%, under the "critical level" of 40%, which the German government deems is necessary to withstand seven straight days of an extreme cold snap.

This dynamic leads to rising global oil inventories from 2Q22 through the end of 2023, and the Brent spot price will fall to an average of $87/b in 2Q22 and $75/b in 4Q22. The Brent price will average $68/b for all of 2023.

European Commission Vice President Josep Borrell said Russia was using Europe's reliance on its energy exports for "geopolitical gain in the middle of a surge of energy prices worldwide."

She did acknowledge, however, that Gazprom was fulfilling its contracts, "but only at the bottom end of its commitments."

State-run oil giant Rosneft signed a 10-year supply deal with China's CNPC for supplies of 100 million mt, or 200,821 b/d, of crude. Russia's Gazprom signed a 10 Bcm/year gas supply deal with CNPC which will see Gazprom's pipeline supplies to China reach 48 Bcm.

“This is already a second contract to be signed for Russian gas supplies to China, and it is indicative of the exceptionally strong mutual trust and partnership between our countries and companies. Our Chinese partners from CNPC have already seen for themselves that Gazprom is a reliable gas supplier,” said Alexey Miller.

"Aside from a few additional Bcms which could be squeezed out of (mainly LNG) exporters -- probably only on an emergency basis -- there is no substantial, immediately available gas which could compensate for any significant interruption of Russian gas supplies,"

Сжиженный газ уже на сегодня занимает более 60% в общем грузообороте СМП, а товарооборот этого кратчайшего пути из Европы в Азию постоянно растёт, за последние пять лет увеличившись более чем в пять раз, а по итогам прошлого года, по данным дирекции СМП, и вовсе превысил плановый показатель и достиг 33,5 млн т.

"Наша страна поддерживает тренд по зелёному энергопереходу и снижению выбросов в атмосферу. Развитие газомоторного рынка – один из шагов в этом направлении. Поэтому у газомоторного рынка в России огромные перспективы", – сказал Юрий Борисов.

The Commission said that, after taking account of scientific advice and current technological progress, it considers there is a role for private investment in gas and nuclear activities in the transition.

Ожидаемый объем дополнительных нефтегазовых доходов федерального бюджета, связанный с превышением фактически сложившейся цены на нефть над базовым уровнем, прогнозируется в январе 2022 года в размере +493,2 млрд руб.

In January 2021, Azerbaijan started commercial gas supplies to Europe via the Trans-Adriatic Pipeline, which entered operations in November 2020.