Energy
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Gas reserves in Europe’s underground gas storage (UGS) facilities have fallen below 66%, and the withdrawal rate since the beginning of the heating season is 28% higher than the average for the past five years, data from Gas Infrastructure Europe (GIE).
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British oil and gas company BP Plc expects a decline in upstream production (exploration and extraction of oil and gas) volumes in the fourth quarter compared to the third, with negative trends anticipated in both the oil and gas sectors. It should be noted that BP's final report for the last quarter will be published on February 11.
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At the opening ceremony of Abu Dhabi Sustainability Week (ADSW), Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technologies, introduced an innovative breakthrough in renewable energy. The Minister announced the launch of the world’s first renewable energy production facility capable of providing continuous and large-scale clean energy supply, marking a significant milestone that redefines the role of renewable energy in global energy systems.
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By June 30, 2024, the level of gasification in Azerbaijan reached 96.5%, according to a report by SOCAR for the first half of 2024. Following the completion of the first gasification program (2014-2018), the process continues under the “State Program for the Socio-Economic Development of Azerbaijan's Regions for 2019-2023.” As of December 31, 2023, the gasification level stood at 96.46%. “The remaining works will be financed through state capital investments,” the company’s report stated.
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