The charge for funding
Accessing energy sector cash from traditional sources has been difficult while oil and gas companies are cutting capital spending. But projects have been taking off
Heightened oil and gas price volatility has threatened the commercial viability of large-scale upstream projects over the past few years. Many traditional developments, which operators committed to at $100 oil, are now untenable with Brent prices at half that level. But project finance in the renewables sector is thriving, driven by supportive government policies to decarbonise and generous subsidies. Wind and solar projects in particular are driving the charge. In the US alone, a number of major solar PV projects have been agreed, as traditional oil and gas companies seek to diversify operations. There has also been a rise in wind energy developments, with several large projects in western
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Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
