NRG Matters: BP acquires 40% stake to lead $30bn Australian renewables project; UK ends EV subsidies program 

RIYADH: On a macro level, Egypt, Israel and the EU have signed a gas export agreement as Europe seeks an alternative to Russian gas, while the UK has ended its electric cars $349 million subsidies program, as demand surged. 

Zooming in, the British oil giant BP has acquired a 40.5 percent stake in a massive Australian renewables project, that is valued at $30 billion. Saudi Aramco aims to ramp up blue ammonia production as it releases its first sustainability report. 

Looking at the bigger picture: