The weekly assessment for spot LNG LNG-AS cargoes dropped to $5.60 per million British thermal units (mmBtu) in the week that ended Feb. 26, the lowest since early October and about 81% below the peak of $29 on Jan 15.

Japan’s Nikkei was down 0.85% as some investors booked profits on defensive energy and utility shares before the end of the fiscal year this month.

Shell Egypt and one of its affiliates have signed an agreement with a consortium made up of subsidiaries of Cheiron Petroleum Corporation and Cairn Energy PLC to acquire Shell’s upstream assets in Egypt’s Western Desert

That brings the total shortfall to nearly $2.5 billion, according to a market notice.

"The entire energy sector failed Texas," said NRG Energy Inc Chief Executive Mauricio Gutierrez, who testified.

Brent rose $1.07, or 1.7%, to $65.49 per barrel. WTI jumped $1.01, or 1.6%, to $62.51 a barrel.

"The US has decided to put the Nord Stream 2 project in a broader geopolitical framework and is threatening all industries or parties involved in the project with sanctions," Wintershall Dea said.

Natural gas will overtake coal in 2025 and become the largest global primary energy source by 2047, with oil plateauing around 2040 and then beginning its irreversible decline

Those essentials include power for natural gas wells, processing plants and compressor facilities, but Texas Energy Reliability Council Chairman James Cisarik said keeping natural gas flowing to power plants requires operational water, communication and transportation infrastructure.

The Central Electricity Authority (CEA) projects that solar and wind will form 51% of India’s total installed capacity, or 420GW, by 2030, with biomass and small hydro adding another 30GW, while the IEA’s India Energy Outlook 2021 says that India could add 900GW of renewable capacity by 2040.

NREL said it had established the CPO to “accelerate [its] leadership in securing renewable energy technologies and distributed energy systems”

The US offshore wind market is expected to grow several-fold increase in capacity, from 2020 levels of (42 MW) to estimated ~28 GW by 2030

The S&P/ASX 200 index rose 1.7% to close at 6,789.6 in a solid start to March, posting its biggest intraday percentage gain since Jan. 7.

Overall, Iberdrola’s operating profit fell by 3% to €1.2 billion (US$1.4 billion), driven by its recent commissioning of new plants as it ramps up its renewables capacity.

U.S. Rig Count is up 5 from last week at 402, Canada Rig Count is down 9 from last week to 163,