UK was facing a “catastrophic winter”, telling the BBC that half of all households could fall into fuel poverty without intervention.

Canada is already a global leader in blue hydrogen production, or that produced using natural gas feedstocks paired with carbon capture.

Households in the Nordic country have already been told to prepare for rolling power cuts in the winter, as there will be no supplies from Russia to help meet peak demand.

Fennovoima said its claims currently total almost EUR2 billion (USD2 billion), while Rosatom said it is seeking USD3 billion from Fennovoima.

Subsidies, which will be incorporated into power bills, are expected to absorb up to 94% of the rise in monthly power bills for households and 89% of the rise for small and medium-sized firms.

Russia’s Gazprom will halt flows on its key Nord Stream gas pipeline for three days of repairs on Aug. 31, again raising concerns it won’t return after the work.

Russian gas company Gazprom has announced it will halt gas supplies to Europe via the Nord Stream 1 pipeline from 31 August to 2 September 2022, quoting maintenance issues for the pipeline’s only remaining compressor.

Eni announces a significant gas discovery in the Cronos-1 well drilled in Block 6, 160 km off Cyprus coastline, in 2,287 metres of water depth.

Benchmark futures rose as much as 16%, also driving up electricity prices to fresh records. The key Nord Stream pipeline will stop for three days of maintenance on Aug. 31, again raising concerns that the link won’t return to service as planned after the works.

Рассмотрен ход подготовки проекта международного договора о формировании общего рынка газа Евразийского экономического союза.

Preliminary production figures for July 2022 show an average daily production of 1 876 000 barrels of oil, NGL and condensate.

Europe is engulfed in an energy crisis fanned by limited supplies from Russia, as well as increased demand amid recovery from the pandemic and a hot and dry summer that has increased the need for cooling.

Gas markets in Europe jumped 6 per cent on Wednesday to €236 a megawatt hour, taking the week’s gains so far to 14 per cent. The latest price was equivalent in energy terms to almost $400 a barrel of oil,

“The still high increase in consumer prices and the expected additional costs for heating and electricity are currently having a particularly negative impact on the prospects for the consumer-related sectors of the economy,” said Michael Schröder, a researcher at the ZEW.

European countries imported on average approximately 400 million cubic meters of gas per day from Russia during the January to July period last year, but imports dropped to 240 million cubic meters per day for the January-July period this year.