... Assessment Report (AR6) of the Intergovernmental Panel on Climate Change (IPCC), by 2020, the increase in global average temperature compared to the pre-industrial era (1850-1900) reached 1.1 degrees Celsius. However, climate change mitigation measures currently pledged by nations are insufficient to maintain the rise in the global temperature within the limits set by the 2015 Paris Agreement.
BRICS countries play a crucial role in global climate policy. Even before its expansion, the association ...
... foreign energy supplies, while Russia, Saudi Arabia and the UAE seek to jump on the last train of the fossil fuel era and establish channels of energy trade for decades to come.
The BRICS nations are now looking for additional sources of financing to address energy poverty and reduce their carbon footprints. Besides, representatives of commercial circles have recently proposed on various platforms of the association to discuss a voluntary carbon market, which could become a source of investment. The initiative ...
..., to consider the possibility of transferring their foreign representative offices to the UAE. This is facilitated by a favorable tax climate in the country, the availability of a developed infrastructure, and a system of services. Trading in shares of Russian energy companies is also moving to UAE trading platforms.
The UAE and Russia are working to achieve a common goal; to maintain the stability of the global oil market, through group coordination within OPEC+. The two countries also aim to make progress ...
Working Paper No. 63
Working Paper No. 63
Cooperation in the energy sector is one of the most important facets of Russian foreign policy. Interaction in this area helps to develop mutually beneficial trade relations and ensure the energy security of Russia and its partners. Energy cooperation between Russia and ...
... 2011–2021
Compiled by the author using data from stats.gov.cn, customs.gov.cn, cec.org.cn
Given that the tertiary sector has been seriously hit by the pandemic-related restrictions, economic growth was largely achieved in the secondary sector. As a result, energy consumption in the secondary sector in January–September 2021 grew
by 12.3 per cent
year-on-year, including
by 9.5 per cent
in the four largest energy-intensive sectors (construction materials manufacturing, ferrous and non-ferrous metallurgy,...
... filling its underground gas storage facilities in a fashion slower than does the market on average or that the company hardly books additional gas transit capacity through Ukraine, these factors can only have a marginal effect on the overall cost of energy commodities.
Graph 1
. Natural Gas Prices in 2017–2021 (USD/MMBtu)
Source:
Thomson Reuters
Gas Prices: In Circumvention of the Rules?
The high cost of gas in Europe became apparent early in 2021 as European countries were exhausting their gas reserves after the relatively cold winter of 2020/2021. At the same time, industries in Europe, as well as the economic activity in a broader sense, were recovering from the recession triggered by the COVID-19 pandemic, which translated into an increasing ...
... which have played a particularly great role in ensuring the EU’s energy security.
The first challenge lies in altering the pattern of interdependence with the Middle East and North Africa (MENA), as well as Russia. The EU’s transition to renewable energy sources (RES) reduces its dependence on hydrocarbons from those regions, especially after 2030, when gas consumption is to be decreased. For MENA nations and for Russia, this entails a major drop in national budget revenues, and it will require a transformation ...
... which have played a particularly great role in ensuring the EU’s energy security.
The first challenge lies in altering the pattern of interdependence with the Middle East and North Africa (MENA) as well as Russia. The EU’s transition to renewable energy sources (RES) reduces its dependence on hydrocarbons from those regions, especially after 2030, when gas consumption is to be decreased. For MENA nations and for Russia, this entails a major drop in national budget revenues, and it will require a transformation ...
