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UK spent £5.1 billion on Russian energy imports

UK spent £5.1 billion on Russian energy imports £5.1 billion was spent on Russian energy imports by the UK in the year to April 2022. That’s according to a current research discussion report from the House of Commons, which implies the imports from Russia made up 22% of coal, 9% of oil and 4% of…
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UK doesn’t plan to ration energy

UK doesn’t plan to ration energy The UK does not face the risk of energy rationing in the near future. During a session of the Welsh Affairs Committee on the grid capacity in Wales, Energy Minister Greg Hands suggested there was no risk of energy rationing . “We have got no plans and proposals on…
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Replacing Russian energy will take some time

Replacing Russian energy will take some time Replacing Russian oil and gas will not likely come overnight. That’s the suggestion from Dr Nils Røkke, Executive Vice President Sustainability at SINTEF, Norway’s largest research institute who spoke about how feasible the European plan to ditch Russian fossil fuels is. He stated: “The replacement will take some…
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Lithuania cuts Russian energy imports?

Lithuania cuts Russian energy imports? Lithuania has stopped importing energy supplies from Russia. The move was confirmed by the country’s Energy Minister Dainius Kreivys who stated: “As of Sunday, Lithuania will have completely cut import of Russian energy supplies i.e oil, electricity or natural gas, due to the Nord Pool’s decision to stop trading Russian…
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£375m Energy Security Strategy sealed by government

£375m Energy Security Strategy sealed by government: The government has now reported it will invest £375mn in technologies that could help the UK’s independence with energy. The plan contains £240 million to support the creation of hydrogen, £2.5 million of funding to expand next-gen nuclear technology & an additional £5 million in the way of…
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The UK may be reliant on energy imports within 15 years

The UK may be reliant on energy imports within 15 years: Offshore Energies UK (OEUK) published a report that warns that the UK will keep importing more gas and oil from foreign countries in the future unless the decline in investments in the sector reverses. An industry body warned that production of all UK oil…
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Is return of fracking in government’s plans?

Is return of fracking in government’s plans?: Considering Russia’s invasion of Ukraine, the Prime Minister reveals ways to increase the UK’s energy security raising criticism over the possibility of removing the moratorium on fracking. “We must take the bold steps necessary to end our dependence on Putin’s oil & gas. It is time to take…
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Volatile energy prices set to continue into 2030

Volatile energy prices set to continue into 2030: Research from Cornwall Insight has shown that conditions could be in place for volatile wholesale energy prices to continue into 2030 and beyond, unless the UK develops a long-term strategy to cope with changes in energy production and unstable economic, geopolitical, and ecological systems. Cornwall Insight’s Benchmark…
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Cambo oil field development on ‘pause’

Cambo oil field development on ‘pause’: The firm in charge of developing the Cambo oil field off the coast of Shetland has announced a “halt” in the project. Today’s statement follows Shell’s decision to withdraw from the development, citing a lack of “strong enough economic justification” for investing in the project. Following Shell’s statement, Siccar…
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UK must allow new oil & gas fields or see future shortages

UK must allow new oil & gas fields or see future shortages: Blocking projected oil & gas fields would risk making consumers further exposed to rocketing energy bills & fuel shortages. That’s as reported to analysis by the trade body OGUK which says that if new oil & gas projects do not go ahead, domestic…
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