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.

India’s gas market has been struggling to take off for over a decade, and is now being further tested by the impact of the Ukraine war on LNG prices.

As a result of western sanctions on Russia, there will be almost no new supply from Arctic LNG in 2024 and 2025, he said.

Russia has exported an estimated 63 billion euros worth of fossil fuels since the beginning of the Ukraine war, a new study shows. The EU imported 71% of this, highlighting the challenge Europe is facing in weaning itself off Russian energy – and gas in particular.

While Europe is partly accelerating low-carbon programmes to wean itself off Russian energy in the light of the Ukraine war, the picture in Asia is more mixed, with many still associating reliable energy with fossil fuels.

By 2030, rich countries which produce over a third of the world’s oil and gas must slash output by 74%, the report says.