Two camps, one led by Germany and the other by France, are fighting it out, each with a blocking minority on a specific point: Should low-carbon hydrogen be taken into account when measuring the efforts of member states to reach the target of 45% of renewables in their energy mix by 2030?

Germany suffered the most among EU member states from the Russian supply curtailments, with a number of buyers forced to buy expensive gas on the open market to make up for the Russian shortfall.

"Every politician knows who blew up Nord Stream, but hypocritically keeps quiet," says Vucic.

Preliminary production figures for February 2023 show an average daily production of 1 994 000 barrels of oil, NGL and condensate.

As the EU pushes more broadly to bolster clean energy, it’s also responding to concerns that green industries could emigrate to the US and China, with the price that Europe pays for its energy a driving factor.

The fund returned -14.1 percent, or -1,637 billion kroner, in a year of rising interest rates, high inflation and war in Europe. However, the market value of the fund increased by 90 million kroner in 2022.

Prior to the sanctions, between October 2021 and September 2022, diesel imports from Russia made up 53% of Northwest Europe’s seaborne imports.

The EU banned imports of Russian oil products from Feb. 5, two months after imposing restrictions on seaborne crude shipments from the country.

After excluding 7 bids due to formal errors, the regulator selected 119 proposals with prices ranging between €7.24c/kWh and the maximum permissible value of €7.35c/kWh. The volume-weighted average reached €7.34c/kWh (+25% compared to the previous round).

The U.K. and U.S. announced the Strategic Energy Dialogue (SED) in June 2021 as the primary bilateral forum to enhance and expand cooperation across shared energy security and resilience, clean energy, and net zero objectives.

"Nuclear energy is one of many tools to achieve our climate goals, to generate base-load electricity and to ensure security of supply," the French ministry noted.

The selected projects aim to tackle specific challenges linked to the commercialisation of fusion energy, from novel fusion materials and manufacturing techniques through to innovative heating and cooling systems, all needed for future fusion power plants.

The Indian conglomerate Essar has announced that it will invest US$3.6bn in the United Kingdom and in India over the next five years through a new entity, named Essar Energy Transition (EET), with the goal to drive decarbonisation.

At the same time, Russian LNG imports into the EU rose by around a third to 14.1 million mt (19 Bcm), but it was LNG from other sources -- the US in particular -- that helped fill some of the gap left by lost Russian gas.

Even though Europe has significantly cut its reliance on Russian gas, a lot of the storage that they used to cut the reliance was actually Russian gas from the past.