A viable renewable energy backstop to oil & gas production does not now exist to guarantee Americans cost-effective, reliable, and 24/7 energy availability

Germany and Europe's dependence on Russian natural gas supplies cannot be eliminated in the short term without considerable economic damage.

Novak is Russia's key negotiator in the OPEC+ group, which has resisted calls from consumers to increase production.

Up until now, Europe has not announced an energy emergency plan. However, the latest figures show that Europe's gas storage capacity is only 26% full.

Nuclear's share of energy in the UK is currently about 16%, however almost half of the country's current capacity is due to be retired by 2025 and all but one of its reactors will retire by 2030.

Hungary will pay for shipments in roubles if Russia asks it to, Prime Minister Viktor Orban told a news conference on Wednesday in reply to a Reuters question.

The Ministry of Energy and Environment plans to double lignite production and to review its phase-out plan for lignite-fired power plants.

Norwegian deliveries totaled 9.94 Bcm in March -- or an average of 321 million cu m/d. The total volume is higher than in February, but lower on a daily average basis given February is a shorter month.

While the US has already banned imports of Russian oil, gas and coal, it could escalate energy pressure through secondary sanctions on other countries that continue to import the supplies.

Our relations are a strategic partnership, even a specially privileged strategic partnership, as our Indian friends called it some time ago.

Europe's largest economy is heavily dependent upon Russia for energy, and nations banks echoed concerns over possible energy disruption expressed by big names in industry in recent days.

According to data compiled by the U.S. Bureau of Economic Analysis, the Consumer Price Index (CPI) for ‘Energy’ in February 2022 was 25.6% higher than in February 2021, which is more than triple the increase of the CPI for ‘All Items,’ which was 7.9% higher over the same period.

Russian President Vladimir Putin signed an order March 31 prohibiting supply of Russian gas to countries that have imposed sanctions against Moscow if they refuse to pay for imports in rubles.

"The change in the procedure for settlements is introduced due to the fact that, in violation of international law, the foreign exchange reserves of the Bank of Russia were frozen by the EU member states," the Kremlin said.

CNOOC has a 10% stake in the 19.8 million mt/year Arctic LNG 2 project, which is also its solo asset in Russia.