ADNOC has announced investments in LNG projects in the U.S. and Mozambique while simultaneously advancing its domestic LNG plans.
Oil and gas exploration is booming in Namibia, with the country seeking to strike a balance between developing fossil fuels and building out renewables.
Several natural gas projects are under development in South Africa as the country seeks to ease energy shortages and reduce its dependence on coal, but there are calls for more renewables to be added to the energy mix.
African LNG development continues to run into delays owing to various factors including a lack of investment, security issues and poor infrastructure.
The ongoing conflict in Gaza has led to questions over the risk to existing and new natural gas projects in the Eastern Mediterranean.
Equinor’s recently-approved Snøhvit Future project is an attempt to balance ongoing gas production with decarbonisation.
EU gas storage hit its 90% target ahead of schedule in August and looks well-positioned to handle winter demand, but needs to do more in the long-term.
Natural gas and nuclear power are set to be included in the EU taxonomy for sustainable activities, albeit on a transitional basis.
The war in Ukraine seems set to accelerate clean hydrogen development in the EU, in line with the bloc’s increased targets for hydrogen uptake, but the nascent industry still has considerable challenges to overcome.
At least a partial embargo on Russian oil looks likely to be brought in by the EU, and the move would have far-reaching implications for global markets.