Britain said on Monday its 75-million-pound ($90.5 million) fund aimed at helping boost domestic production of nuclear fuel for power plants and cutting reliance on Russian uranium supplies was now open for applications.

The fund, announced in July, will award grants to businesses involved in uranium conversion, a key stage in the process of creating nuclear fuel from the metal. It will remain open for applications from Monday until Feb. 20.

“Record high global gas prices, caused by Putin’s illegal invasion of Ukraine, have highlighted the need for more home-grown renewable energy, but also UK generated nuclear power – building more plants, and developing domestic fuel capability,” Minister for Energy and Climate Graham Stuart said.

Britain Opens Nnuclear Fuel Fund With Aim to Cut Reliance on Russia | Devamı>>>

OPEC on Thursday cut its forecast for growth in world oil demand in 2022 for a second straight month, citing the impact of Russia’s invasion of Ukraine, rising inflation and the resurgence of the Omicron coronavirus variant in China.

The Organization of the Petroleum Exporting Countries (OPEC) said in a monthly report that world demand will increase by 3.36 million barrels per day (bpd) in 2022 from its forecast by 310,000 barrels of war.

OPEC Cuts 2022 World Oil Demand Forecast Again on Ukraine War | Devamı>>>

The invasion of Ukraine has highlighted the geopolitical liability for the European Union from fossil fuel imports from autocratic regimes. In response, the European Union is for ways to replace Russian gas imports in the short term, taking critical decisions over investment in infrastructure and economic relationships.

This joint analysis by Bellona, Ember, E3G and Regulatory Assistance Project finds that:

Clean energy can replace two-thirds of Russian gas imports by 2025.

EU Can Stop Russian Gas Imports by 2025 | Devamı>>>

Asia liquefied natural gas (LNG) spot prices hit a record high of more than $59 per million British thermal units (mmBtu), tracking a surge in European gas prices on concern over tight supply after Russia’s invasion of Ukraine.

Price agency S&P Global Commodity Insights‘ Japan-Korea-Marker (JKM), which is widely used as a spot benchmark in the region, climbed to $59.672 per mmBtu on Thursday, data showed.

Its previous record was set in October 2021 when it hit $56.326/MMBtu.

Asia LNG Spot Prices Hit Record High, S&P Data Shows | Devamı>>>

Nord Stream 2, the company building a gas pipeline between Russia and Germany, has reportedly requested a permit allowing it to use pipe-laying vessels with anchors to complete the final roughly 120-kilometre stretch of pipeline in Danish waters.

Nord Stream 2 has, as a precautionary measure, submitted an amendment request in accordance with the guidance received from the Danish Energy Agency (DEA), Nord Stream 2 EU representative Sebastian Sass told New Europe on June 19, adding that Nord Stream 2 will implement the project in accordance with the construction permit and as assessed in the Environmental Impact Assessment.

Nord Stream 2 Pending Update Permission From Denmark | Devamı>>>

The new BP Statistical Review of World Energy was published this week. It’s worth a look:  a treasure trove of energy data, published annually since 1952. (Full disclosure:  I led the production of the Review for a dozen years…)

The Review has comprehensive global coverage of every energy form as well as key minerals—demand, supply, trade, prices. The focus of the Review this year is, rightly, global energy demand and CO2 emissions—both of which increased last year, albeit at below-average rates.

Shock Finding: China Is The World’s Biggest Energy Producer | Devamı>>>

Russia and Saudi Arabia both rely on oil sales to fund a majority of their budgets. In the last five plus years, China has become the biggest customer for both countries. In fact, China is the world’s largest importer of oil, though it could cut imports if it stopped adding to inventory (storage). China has stored so much oil over that half a decade, that it could practically halt all oil imports and get by just fine for a while.

How Russian and Saudi Oil Ties to China | Devamı>>>

Oil prices are down nearly 50% for the year after OPEC+ talks collapsed and Saudi Arabia announced slashed prices in an apparent price war with Russia.

Oil prices fell through the floor in early trading Monday, tanking as much as 30% after Saudi Arabia slashed its crude prices for buyers. The kingdom is reportedly preparing to open the taps in an apparent retaliation for Russia’s unwillingness to cut its own output.

Oil Nose-Dives as Saudi Arabia and Russia Set Off ‘Scorched Earth’ Price War | Devamı>>>

Nearly two years ago China’s “Nimble Dragon” (玲龙) project hit headlines when state-owned China National Nuclear Corporation (CNNC) announced plans to build a floating small modular reactor (SMR) in the island province of Hainan. Just last month China’s Ministry of Environment began its impact assessment of the ACP100  – the unit’s technical name – bringing the project into its next stage of development. China now joins the United States and Russia in the race for commercially viable SMR technology.

China Enters Global Tech Race For Small Modular Nuclear Reactors | Devamı>>>

At least 37 people are confirmed to have died after a block of flats collapsed in a gas explosion in eastern Russia.

Twenty-two of the dead have been identified following the blast on New Year’s Eve, which caused part of the 10-storey building to collapse in Magnitogorsk, a city of about 400,000 just over 1,000 miles from Moscow.

The Russian emergency situations ministry said six children were among the dead.

37 Confirmed Dead After Explosion in Block of Flats in Eastern Russia | Devamı>>>

The European Parliament has called for the construction of the Nord Stream 2 pipeline to be cancelled. This is according to the resolution adopted by the European Parliament on Wednesday following the report on the Implementation of the EU-Ukraine Association Agreement. The Strasbourg meeting of the plenary session of the European Parliament was broadcast on the EP’s website.

“MEPs praise Ukraine for good cooperation in the energy sector and its achievements in the areas of energy efficiency and renewables, while pointing out the need to continue to reform, particularly in the gas and electricity market.

European Parliament Calls for Nord Stream 2 Construction to be Cancelled | Devamı>>>