EurOil - Europe Oil & Gas
Shareholders of Equinor, the Norwegian state oil company, will advise on the company’s first energy transition plan on May 11. Equinor is aiming for an offshore wind goal total of 12-16 GW of installed net renewable capacity by 2030.
Poland has already said it can go independent of Russian gas before the end of the year once the Baltic Pipe becomes operational.
EU efforts to gradually reduce Russian gas imports over time will only bolster Moscow’s revenues by driving prices upwards, Mike Fulwood, a senior fellow at the Oxford Institute for Energy Studies (OIES), warned in a paper.
Europe’s unprecedented push to sever all energy ties with Russia has left Moscow scrambling to re-orientate its vast oil, gas and coal exports to Asian markets. But achieving such a monumental feat would likely take years and cost billions.