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Energy security has again risen to the top of governments' priorities in the face of rising gas and energy prices following Russia's invasion of Ukraine. This has put the focus squarely on non-fossil-fuel power generation, such as from renewables (solar, wind, and hydro) and nuclear. In a five-part series of articles, analysts from S&P Global Ratings, S&P Global Commodity Insights, and S&P Global Market Intelligence provide their views on latest developments in the energy transition.
An increasing number of governments and businesses are pledging to achieve carbon neutrality within the next few decades. The electrification of vehicles is a big component of this plan. At COP26 in Glasgow, November 2021, 6 automakers and 30 countries pledged to phase out gasoline car sales.Energy & Commodities
EU member states need to retain focus on reducing gas consumption in order to manage the upcoming winter, which still has the potential to become more difficult, a senior European Commission official said Sept. 21.
Speaking during a Eurogas webinar, EC head of unit at the energy directorate Monika Zsigri warned against complacency despite the series of measures the EC has introduced to ensure winter supply security.
"As the heating season approaches, we still need to look at demand reduction," Zsigri said. "If extra supplies are difficult to obtain due to the global situation on gas supply, we have to look at demand," she said.
"The situation for this winter is manageable, but it can become more difficult so we cannot be complacent. More remains to be done to increase our resilience further," she said.
Significant cuts in Russian gas supplies have left Europe short on gas, pushing prices to record highs in recent months.
The private debt market has grown tenfold in the past decade with assets under management of funds primarily involved in direct lending surging to $412 billion at end-2020—spurred in part by investors’ search for higher yield.
As high inflation continues to affect economies worldwide, the global steel market is feeling the effects. Demand for the metal has dipped, and some countries—including China—are expecting potential output reductions.
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