Supergiants like Exxon are focused on big offshore venues like Guyana and Namibia, leaving behind prime onshore natural gas assets in Europe – a region that is now desperate for affordable domestic resources that aren’t controlled by Russian Gazprom.
Gazprom and CNPC agreed to increase the volume of Russian gas export to China through the Power of Siberia pipeline next year.
Türkiye has agreed with Russia’s Gazprom on deferring payment for part of the natural gas it imported after a price surge last year, Energy Minister Fatih Dönmez said.
Western countries are trying to cut the amount of Russian oil and gas they import following the invasion of Ukraine in February.
Ahead of Russian President Vladimir Putin’s visit to Iran on Tuesday, his second foreign trip since he invaded Ukraine in February, Russian Gazprom and the National Iranian Oil Company have inked a $40-billion agreement for the development of oil and gas fields.
Norway, western Europe’s largest oil and gas producer, should share the huge profits it has made from oil and gas exports since the Russian invasion of Ukraine, Poland’s prime minister Mateusz Morawiecki said this weekend.
Russia’s gas giant Gazprom confirmed it had completely halted exports to Finland at 04:00 GMT on Saturday.