Zarubezhneft to pursue geothermal energy projects in Kamchatka

Zarubezhneft has become the first Russian oil-and-gas company to pursue projects in the field of geothermal energy. The company has received licenses for three geothermal areas: Koryaksko-Ketkinsky, Verkhnezhirovsky and Bolshe-Banny. They are located around the most populous part of the Kamchatka Territory within no more than 100 kilometers from the region’s capital.

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Innovation of the year: renewable energy

Despite the energy crisis, investor interest in renewable energy sources (RES) has continued to rise in 2022. According to the International Energy Agency (IEA), the share of RES in the composition of investments into the global energy industry throughout 2022 has grown from 59% to 60%, substantially exceeding the level observed five years earlier (51%).

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Innovation of the year: nuclear power

This year has been proof of a resurgence of interest in nuclear power. The year 2022 saw global investments in the construction of nuclear power plants (NPPs) grow by 13% (to $49 bln), exceeding the level of 2015 ($28 bln) by more than 1.5 times according to preliminary data from the International Energy Agency (IEA).

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Innovation of the year: hydrogen

This has been a fruitful year in terms of innovations in the field of hydrogen production. Research in this area has been focused on, among other things, finding new ways to produce H2, which would transcend the conventional hydrogen production methods, be it coal gasification (brown hydrogen), steam methane reforming (gray hydrogen) or water electrolysis with the use of renewable energy sources (green hydrogen).

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Innovation of the year: fossil fuels

Despite the energy transition, conventional resources continue to define the shape of the world energy industry. The year 2022 saw global investments in oil, gas and coal production grow by 7% (to $834 bln), exceeding the investments in renewable energy sources (RES) by 70% ($489 bln), according to a preliminary assessment by the International Energy Agency (IEA).

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December 2022
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