RIYADH: Combined, the war between Russia and Ukraine along with the rallying energy costs are signaling a rocky road ahead for the energy sector as a whole. While German power for next year has climbed over 200 euros on high gas costs, prices associated with renewables have also reported a significant rise within the past year. Qatar is also seen awarding LNG vessel charter deals. On a micro level, firms such as Italy’s Eni SpA have signed deals to propel Egyptian LNG exports to Italy. Other firms like the US’s Blackrock are expecting the launch of renewable energy focused infrastructure funds. Looking at the bigger picture: ·German power for next year surged 2.3 percent to stand 201.75 euros per megawatt-hour on the European Energy Exchange, Bloomberg reported. The rise in price — which is the highest reported since December — is mainly attributed to the global surge in natural gas costs, since electricity prices follow that of gas. ·Global wind and solar power prices have jumped around 30 percent, amid supply chain issues as well as rising costs of everything from shipping to parts to labor, Reuters reported. While contract prices for renewables rose 28.5 percent in North America last year, they rose by 27.5 percent in Europe during the same period. ·Qatar has signed an agreement with a subsidiary of Japanese transport firm Mitsui O S K Lines regarding the long-term charter and operation of four liquified natural gas ships, Meed reported. Through a micro lens: ·Italian multinational oil and gas company Eni SpA has signed a framework of agreement aiming to bolster liquified natural gas flows from Egypt to Italy, as the European country tries to reduce dependency on Russia, Bloomberg reported. Under the new agreement, Egyptian state-owned holding firm Egyptian Natural Gas Holding Co. will allow as much as three billion cubic meters of liquified natural gas to make its way to Italy, as well as other places in Europe. ·American multinational investment management corporation Blackrock Inc has announced that it is anticipating the launch of three renewable energy focused infrastructure funds, Reuters reported. This comes as the war between Russia and Ukraine has urged countries worldwide to secure alternative supply sources to curb potential supply crunches.