https://arab.news/wfk2t
RIYADH: Despite the political instability driven by the Russia-Ukraine conflict, the energy sector is seen encountering clean energy deals, projects, and sales like those in the US, China, and Europe respectively.
Looking at the bigger picture:
·The US federal government has announced a record sale of six offshore wind leases off the coast of New York and New Jersey amounting to $4.37 billion.
Upon development, the sites are projected to generate as much as 7 GW of clean energy to cater to an estimated two million households, CNBC reported, citing The Bureau of Ocean Energy Management.
· Major Chinese desert projects to generate a total of 455 GW of clean energy by 2030, Bloomberg reported, citing a report from the National Development & Reform Commission and National Energy Administration.
This comes as the Asian country aims to expand solar and wind power capacity.
Through a micro lens:
·American multinational energy corporation Chevron Corp. plans to acquire biodiesel production company Renewable Energy Group Inc., valued at $3 billion, Bloomberg reported.
This comes in line with Chevron’s push into renewable fuels in an attempt to move away from oil and gas as it bids to slash carbon emissions.
·Russian majority state-owned multinational energy corporation Gazprom announced on Saturday that it is still supplying gas to Europe via Ukraine despite political tensions, Reuters reported.
This comes as the energy firm intends to continue to meet European demand which stood at 108 million cubic meters on Saturday.