New oil and gas discoveries offshore Norway, the UK’s renewables planning policy and increased offshore wind pipeline, and new projects in hydrogen, CCS, and tidal power featured in Europe’s energy sector in the past month.
Oil and gas field developments offshore Norway, the UK windfall tax on low-carbon electricity generators, and many low-carbon energy deals marked the last month in Europe’s energy sector.
Heightened uncertainty over Russia’s pipeline gas supply to Europe, soaring gas and power prices, a major gas discovery, development plans for oil and gas fields offshore Norway, and a lot of investment in clean energy projects have been the key themes in the European energy industry in recent weeks.
Europe’s pledge to reduce dependence on Russian oil and gas supply and additional sanctions on Putin’s regime over the war in Ukraine continued to dominate the European energy industry in May, while operators in Norway announced new projects and discoveries, and oil and gas majors signed more agreements to advance clean energy projects.