"This problem can be solved -- insuring supplies can be secured by using state guarantees within the framework of interstate agreements with third countries," Medvedev said.

India imported 84% of its oil needs and 54% of its gas needs in 2020. After coal (44%), oil represented 44% of the country’s total consumption in 2020, against 6% for natural gas.

Striving to further promote mutually beneficial ties, in part, in energy, transport and tourism, the leaders agreed to hold more meetings.

The European Union proposed banning seaborne oil from Russia while delaying restrictions on imports from a key pipeline

Russian and Iranian officials discussed oil and gas supply swaps, as well as increasing joint energy investments May 25, as an increasingly isolated Moscow seeks more trade partners due to unprecedented sanctions pressure.

Gas will be critical for an achievable, affordable, sustainable, and secure decarbonization of the global energy system.

Egypt has an electricity capacity of 62 GW (at the end of 2021), 80% of which is from gas and 10% from oil.

REPowerEU is about rapidly reducing our dependence on Russian fossil fuels by fast forwarding the clean transition and joining forces to achieve a more resilient energy system and a true Energy Union.

Preliminary production figures for April 2022 show an average daily production of 1 871 000 barrels of oil, NGL and condensate.

Saying no to Russian energy means that Europe will systemically and for the long term become the world’s most costly region for energy resources.

The global energy system is broken and bringing us ever closer to climate catastrophe.

Due to the ongoing geopolitical crisis, the EU member states have set up a purchasing platform for gas, LNG and hydrogen. In this way, one wants to become more independent of Russian energy imports and react against the strong price fluctuations of natural gas.

The energy package due this week may include measures to address the increasing household costs and energy poverty.

Russia’s share of German crude consumption has already declined to 12% from about 35% before the war in Ukraine, according to the Economy Ministry in Berlin.

Aramco announces first quarter 2022 results Net income: $39.5 billion (Q1 2021: $21.7 billion)