RIYADH: The continuing conflict between Russia and Ukraine is exacerbating issues for the already vulnerable energy sector.
Europe is seen channeling billions in a low-carbon hydrogen market. Firms such as the UK’s INEOS are offering to help England meet its revamped energy policies. On the other hand, Iran has requested that the US lift sanctions on Tehran in order for the 2015 nuclear deal to proceed.
Looking at the bigger picture:
·Europe’s efforts to diversify its natural gas sources away from Russian gas has channeled billions of dollars into developing a low-carbon hydrogen market, Bloomberg reported.
This comes as the soaring prices of gas have made hydrogen a feasible and affordable substitute for fossil fuels in manufacturing, transportation, and heating.
The US is urged to lift some sanctions on Iran before reviving the 2015 nuclear deal as a sign of goodwill, Reuters reported, citing Iran’s foreign minister Hossein Amirabdollahian.
Through a micro lens:
·British multinational chemicals company INEOS has proposed the construction of a shale gas test site in England to showcase to the government how to safely extract by fracking, Reuters reported.
This comes as the European country has revamped its energy policies in such a way that focuses on nuclear and offshore wind power amid energy independence goals.
