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Chinese President Xi Jinping just arrived in Moscow on a three-day state visit to Russian President Vladimir Putin that provides the Kremlin with a fig leaf of legitimacy for its military campaign in Ukraine and also promotes China to the top table.
Iranian Oil Minister Javad Owji said at the weekend that crude oil and gas condensates would be sold to foreign customers on the Iran Energy Exchange (IRENEX). They would be available to domestic buyers at the same price during a particular period.
Turkey has abruptly stopped exporting goods to Russia and one of Russian President Vladimir Putin’s strongest advocates in Europe, Hungarian Prime Minister Viktor Orban, has said that he might “rethink” his relations with Russia in the future.
An unexpected surge in public spending and private investment cushioned Russia’s economy from the widely expected sharp economic fall in 2022, government statistics show. However, the economy is now reeling from the oil product sanction shocks.
Beijing is leaning toward buying additional Central Asian gas, despite reliability concerns.
Despite major efforts by the US, the EU and other countries to restrict Russia's fossil fuel revenues, the country is still earning more than half a billion dollars from oil and gas sales per day.
The front-month contract at Europe’s premier TTF gas hub dipped below €50 per MWh ($567 per 1,000 cubic metres) on February 21 for the first time this year, amid easing fears of shortages, warm weather, ample LNG and lower industrial demand.
Gas reserves in Europe's underground storage facilities (UGS) have dropped to 69bn cubic metres and are 63.7% full as of February 22, Gas Infrastructure Europe (GIE) reports.
Russia’s invasion of Ukraine and related sanctions have distorted trade routes across the Eurasian continent.
By the end of 2Q22, the common belief was that the Russian economy was already hurtling towards disaster, buckling under the weight of sanctions. But it didn't happen. A lot of damage has been done to the economy, but what went right?
Baltic countries are securing liquified natural gas (LNG) in vast quantities seeking to take advantage of falling gas prices as the northern European nations accelerate the diversification of their ...
Europe’s gas storage tanks are 68.8% full, a record high in the last decade, with a little more than one month left of the heating season.
The energy crisis in Central and Eastern Europe has lost some of its bite after a mild winter and record LNG imports led to a slump in natural gas prices. The EU has made good progress in replacing Russian energy supplies.
Poland is lobbying for a ban on Russian synthetic rubber to become a part of the new EU sanctions which are scheduled to be unveiled on the one-year anniversary of the military operation in Ukraine, February 24.
New pipeline with capacity of up to 1.8 bcm a year will help increase energy security and diversify gas supplies in the region.
Russian pipeline gas flowing to Europe dipped to a record low in January, down 30% compared with supplies in December, while experts warn that there could be significant further downside risk to the country’s deliveries.
The Russian economy is starting 2023 in a far better state than many had anticipated in the spring following the invasion of Ukraine and ensuing Western sanctions.
The countries on Nato’s eastern flank believe they are now leading the debate on how to confront the Kremlin, as demonstrated by the row over supplying modern battle tanks to Ukraine.
Italian PM Giorgia Meloni completed a two-day visit to Algeria on January 24. The visit’s main goal was to consolidate diplomatic and commercial ties and secure a deal for increased gas exports through the TransMed pipeline.