Italy's gas grid operator Snam will invest 3.7 billion euros ($3.76 billion) in the national gas network to improve transport facilities from the south to the north of the country and boost supply from Africa, it said on Thursday.
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An interconnector allowing the transmission of natural gas between Poland and Slovakia will be commissioned on Friday in preparation for its commercial launch on Nov. 12.
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The European Commission on Wednesday (10 November) tabled temporary emergency rules to accelerate the deployment of renewable energies like wind and solar, saying the ongoing energy crisis fuelled by Russia’s war in Ukraine calls for exceptional measures.
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Higher-than-expected growth in U.S. stockpiles weighed on the oil prices on Wednesday. Moreover, concerns over an increase in COVID-19 cases in top importer China might have an impact on demand. Thus, the Brent crude contract ended 2.8% lower at $92.65 a barrel. WTI crude traded 3.5% down at $85.83 per barrel.
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Spain's Iberdrola will invest 47 billion euros ($47 billion) in electricity networks, renewable energy production and customer businesses over the next two years, its chairman said in a strategy update on Wednesday.
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