After Russia invaded Ukraine last year, you might remember the world experienced much anxiety about energy security.
Prices soared as European nations scrambled to find alternative sources for fuel that was previously imported from Russia.
In Australia, electricity bills seemed to spiral out of control.
While the energy crisis may no longer be on the front pages of newspapers, the same pressures are still prevalent.
Russia is still fighting in Ukraine, the Western world has decoupled from buying fuel from the pariah state, and oil-rich countries are keeping a tight leash on production volumes.
Moreover, renewable generators still require much more time and investment to play a major role in supply.
This is why many experts are still bullish on ASX energy shares.
Here is a trio that they are rating as buys this week:
Firstly, an old-school energy producer
Sequoia Wealth Management senior wealth manager Peter Day loves the look of Santos Ltd (ASX: STO) after its recent corporate deal.
"Energy giant Santos has executed a US$576 million binding sale agreement with Kumul Petroleum Holdings," Day told The Bull.
"In return, Santos will deliver Kumul a 2.6% participating interest in its Papua New Guinea LNG (PNG LNG) venture."
Santos has also granted Kumul Petroleum a call option to acquire another 2.4% stake and project debt in PNG LNG for US$524 million.
"The call option must be exercised on or before June 30, 2024. We expect Santos to outperform moving forward."
Day's peers very much agree with his bullishness on these energy shares.
According to CMC Markets, a whopping 15 out of 17 analysts currently rate the gas and oil producer as a buy.
Secondly, a nuclear energy supplier
Medallion Financial Group private client advisor Stuart Bromley is thinking outside the square with his pick.
It's not quite renewable, but not fossil fuel either.
"In a world focusing on reducing emissions, the nuclear energy theme is building momentum.
"As stockpiles deplete against a backdrop of growing demand, the uranium price is increasing, making it viable for uranium miners to resume operations."
Bromley reckons the company is not far away from resuming production on a previously mothballed mine.
"Boss is well capitalised to move its long-life South Australian Honeymoon project into production within six months, making it our favoured uranium play."
Thirdly, an infrastructure player
Maybe something different to a direct energy producer is APA Group (ASX: APA), which is an infrastructure company.
"It owns and operates a portfolio of gas, electricity, solar and wind assets around Australia," Seneca Financial Solutions investment advisor Tony Langford.
Recent financial performance has been pleasing.
"The company reported net profit after tax of $287 million, excluding significant items, in fiscal year 2023, up 19.6% on the prior corresponding period.
"Annual distribution per security was 55 cents, up 3.8%."
Langford noted that APA Group has just raised $675 million through institutional investors to fund the takeover of Alinta Energy Pilbara.
"APA offers a brighter outlook."