The invasion of Ukraine by Russia has made it clear for all actors in Germany: diversification of gas imports is urgently needed.

China's seaborne Russian oil imports will jump to a near-record 1.1 million barrels per day (bpd) in May, up from 750,000 bpd in the first quarter and 800,000 bpd in 2021,

German industry is particularly anxious about energy-intensive factories, such as glass, steel, food or drug manufacturing, as well as the chemicals sector, that provide many of the building blocks for industry.

In June 2018, Russia and China signed four agreements, including for the construction of two VVER-1200 reactors as units 7 and 8 of the Tianwan plant in Jiangsu province.

Currently, the Paks NPP, built according to the Soviet design, operates four power units with VVER-440 reactors. The Hungarian Parliament in 2009 approved the construction of two new units.

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.

After a fall of 1 million b/d in April, Russian oil production has risen by 200,000-300,000 b/d in May and will continue to increase next month

The Finnish transmission system operator (TSO) Fingrid estimates that there is no threat to the sufficiency of electricity in the country since electricity imports from Russia covered about 10% of Finland’s total consumption before the suspension.

Gazprom produced 193.8 billion cubic meters of gas from January 1 through May 15, 2022. This is a decrease of 3.7 per cent (or 7.5 billion cubic meters) versus the same period of 2021.

Russian scientific institutes will begin testing fuel rods for small modular reactors (SMRs),

Engie and Gazprom have agreed on a solution in line with both companies' expectations in terms of currencies and with European sanctions.

Japanese manufacturers that use thermal coal for their own power generation have more than a month's worth of stocks, but a few manufacturers have a high dependency on Russian supply, according to the documents.

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.