The Paks II project was launched in 2014 by an inter-governmental agreement between Hungary and Russia for two VVER-1200 reactors (units 5&6) to be supplied by Rosatom. The contract was supported by a Russian state loan to finance the majority of the project.

Benchmark futures settled 2.2% higher at €32.48 a megawatt-hour Friday after slumping a day earlier. The contract also posted a second straight weekly gain.

The reactor and the nuclear health centre will also be used to conduct research, development and innovation activities both in the field of nuclear medicine and nuclear power technology.

The Paks II project was launched in 2014 by an inter-governmental agreement between Hungary and Russia for two VVER-1200 reactors (units 5&6) to be supplied by Rosatom.

With piped gas supplies cut off after the war, imports of LNG from Moscow increased to around 18 billion cubic meters in 2023 from less than 14 billion cubic meters before the attack, according to EU data.

The NATO Energy Security Centre of Excellence - located in Vilnius, Lithuania - is one of 28 NATO-accredited expert bodies that advise member militaries on strategy and technologies in particular fields.

WEST’s latest campaign, which started in mid-January set a new plasma duration record of 6 minutes and 4 seconds, with an injected energy of 1.15 GJ, along with a steady-state central electron temperature of 4 keV (50m degrees Celsius), and an electron density twice that of discharges obtained in the tokamak’s previous configuration, Tore Supra.

Gazprom, which holds about 16% of global gas reserves and employs 492,200 people, was once one of Russia's most powerful corporate empires - so powerful it was known as "a state within the state".

There is a growing political focus on the need to develop renewables, with countries agreeing at the COP28 climate summit in December to work towards tripling capacity to 11,000GW by 2030. 

The company noted that estimates of future energy demand in Norway vary from 50 TWh to 233 TWh.

Production decreased 0.4% in March, led by drops in consumer and intermediate goods, and energy, the statistics office said Wednesday.

The annual predefined areas (APA) rounds of exploration acreage are central to Norway's strategy of extending its oil and gas production, a policy fiercely opposed by environmentalists.

Relations between Russia and Western nations have been in the deep freeze since Moscow's full-scale invasion of Ukraine in February 2022, but Norway has been keen to keep some limited cooperation alive through the Arctic Council.

In July 2022, the European Parliament voted to include certain nuclear and gas activities within the European Union's list of officially approved "green" investments.

"Our plan is that by the beginning of the next decade the share of Hungary's energy provided by nuclear power will be between 60 and 70 per cent."