Norway's $1.3 trillion sovereign wealth fund will pull out of all investments in Russia because of its invasion of Ukraine, the Norwegian government said Feb. 27.

11 GW of new wind capacity was added in the 27 EU countries in 2021

Norway and the European Union have reiterated their commitments to reduce greenhouse gas (GHG) emissions in a coordinated manner by at least 55% by 2030 (compared to 1990), with the objective to achieve climate neutrality by 2050.

Blocking energy flows and banning Russia from the international financial messaging service SWIFT – two potential responses to Russia's military invasion of Ukraine – remain on the table but were not pursued in the latest sanctions package from the US.

"The European Council today agrees on further restrictive measures that will impose massive and severe consequences on Russia for its action, in close coordination with our partners and allies," the council said.

The TANAP is the central part of the Southern Gas Corridor, which connects the Shah Deniz gas field in Azerbaijan to Europe through the South Caucasus Pipeline (in Azerbaijan and Georgia) and Trans Adriatic Pipeline (TAP, from Greece to Albania and Italy).

Nigeria, Niger and Algeria have approved a roadmap to develop the 30 bcm/year Trans-Saharan Gas Pipeline (TSGP) between Warri in Nigeria to Hassi R’Mel in Algeria, passing through Niger.

It added that deliveries on Feb. 24 are set at 83 million cubic meters, a 31.4% increase on Feb. 23.

“Welcome to the new world where Europeans will soon have to pay 2,000 euros ($2,270) per thousand cubic meters!” he tweeted – suggesting prices were set to double.

Renewable electricity generation increased by 24% to 6.9 TWh,

Copenhagen Infrastructure Partners (CIP) has entered into a partnership with Bute Energy (Bute) to invest in a 2,000 MW portfolio of onshore wind and solar projects, some with co-located battery energy storage systems, under development in Wales (United Kingdom).

Halting the certification process means the 55 Bcm/year pipeline -- which was completed in September -- will be unable to begin commercial operations.

In 2021, a large share of Europe’s supply of liquefied natural gas (LNG) originated in the United States, Qatar, and Russia.

"To be clear: these measures are separate from and would be in addition to the swift and severe economic measures we have been preparing in coordination with Allies and partners should Russia further invade Ukraine," Psaki said.

OPEC, along with 10 allies led by Russia, has been gradually easing back production quotas it implemented at the start of the coronavirus pandemic by 400,000 b/d each month, aiming to return to pre-pandemic output levels by late 2022.