ENERGY

Authored by Felicity Bradstock via OilPrice.com,

• The UK is expanding its wind energy capacity, particularly offshore, with the approval of the Rampion 2 project.

• The Rampion 2 expansion will add 1.2 GW of capacity, enough to power around 1 million UK homes.

• The UK government aims to quadruple its offshore wind capacity by 2030 as part of its net-zero carbon goals.

The U.K. is already a world leader in wind energy, having rapidly expanded both its onshore and offshore (more…)

The Kremlin on Friday confirmed that the US-brokered ceasefire on energy sites has effectively ended. Last month Ukraine and Russia agreed to temporarily pause all attacks against each other's energy infrastructure. 

Washington hailed this is as a potential key first-step toward a more comprehensive ceasefire, which has still not gotten off the ground. But both warring sides have accused the other of violating the energy site truce multiple times over, in the prior few weeks. (more…)

Authored by Charles Kennedy via ilPrice.com,

• Russia plans to double its natural gas exports by 2030 and triple them by 2050.

• The strategy focuses on expanding exports to "friendly countries" and developing Arctic energy resources.

• Russia faces economic risks due to global market volatility and Western sanctions.

Russia expects its natural gas exports, including via pipeline and LNG, to jump twofold by 2030 and threefold to 2050 under its new (more…)