Russia & CIS

China Strengthened Energy Ties With Russia Through Oil and Gas Purchases in 2022

Putin, Xi and the president of Mongolia held talks in September 2022 on a proposed new Power of Siberia 2 pipeline capable of delivering 50 bcm of gas per year from Russia to China via Mongolia. Moscow put forward the idea many years ago, but it has gained urgency as Russia turns to China to replace Europe as its major gas customer.

Romania’s Transgaz to Build $529 Million Gas Pipeline for Black Sea Gas

The gas pipeline is meant to bring offshore Black Sea gas to the national grid once two gas producers make a final investment decision, Prime Minister Nicolae Ciuca said on Thursday.

Mongolia to Decide on Gas Pipeline Route After Russia-China Cost Agreement

Mongolia will make a decision on which part of its territory will be used to construct the Russia-China gas pipeline once its neighbors reach an agreement on costs, the country's prime minister said.

Nord Stream Owners Discuss Pipeline Repairs, Says E.ON

Shareholders of the Nord Stream 1 pipeline operator are discussing how to seal and empty the damaged gas pipeline to halt corrosion from sea water, said the chief financial officer of E.ON, one of the owners.

Putin Says Germany Remains "Occupied" Due to Response to Nord Stream Pipeline Explosion

Russian President Vladimir Putin said Germany's response to the explosion on North Sea pipelines showed that the country remained "occupied" and unable to act independently decades after its surrender at the end of World War Two.

Norway Does Not Fear EU Joint Gas-Buying Will Create Cartel

Europe's biggest natural gas supplier Norway is not worried the European Union scheme to buy gas jointly in global markets will create a buyers' cartel, its oil and energy minister said on Friday.

Ukraine to Jointly Buy Gas with European Union Countries

Ukraine will take part in the European Union scheme to jointly buy gas in global markets, to procure 2 billion cubic meters of the fuel ahead of next winter, the EU energy policy chief said on Thursday.

German Minister: Nord Stream Attacks May be 'False Flag' Operation

German Defence Minister Boris Pistorius on Wednesday warned against reaching premature conclusions on who was responsible for blowing up the Nord Stream pipelines, suggesting the attack could also have been a "false flag" operation to blame Ukraine.

Alaska's Qilak LNG Targets Asia with $5 Billion Project to Compete with Russia

Qilak LNG plans to invest $5 billion in a proposed LNG facility in Alaska's North Slope to compete with Russia's Yamal project for Asian customers towards the end of this decade, its chief executive said.

US Intelligence Suggests Pro-Ukrainian Group Sabotaged Nord Stream Pipelines -NYT

New intelligence reviewed by U.S. officials suggests that a pro-Ukrainian group carried out the attack on the Nord Stream pipelines last year, the New York Times reported on Tuesday.

Sources: Russia Set to Mothball Damaged Nord Stream Gas Pipelines

Russia's ruptured undersea Nord Stream gas pipelines are set to be sealed up and mothballed as there are no immediate plans to repair or reactivate them, sources familiar with the plans have told Reuters.

Global News - March 2023

Latest industry news and developments

Russian Governor: Sakhalin-1 Oil, Gas Output Less Than Half of Plan in 2022

The project saw a sharp decline in output following the departure of U.S. oil and gas major Exxon Mobil after Moscow sent tens of thousands of troops into Ukraine on Feb. 24 last year.

Russia Halts Oil to Poland Via Druzhba Pipeline, Says Refiner PKN Orlen

The halt in supplies via the Druzhba pipeline — which has been exempted from European Union sanctions imposed on Russia following its full-scale invasion of Ukraine — came a day after Poland delivered its first Leopard tanks to Ukraine.

Wintershall Dea Looks Ahead After Closing Door on Russia

Oil and gas producer Wintershall Dea, fresh from pulling out of its long-term partnership with Russia, will focus on growing its production elsewhere and building up carbon management for the long-term future, it said on Thursday.

US Official Says Russia's Crude Output Cut Signals Unsold Oil

Russia's decision to cut crude oil production by 500,000 barrels per day reflects its inability to sell all of its oil, Ben Harris, a U.S. Treasury Department Assistant Secretary, said on Thursday.

Tellurian Taps LNG Demand Surge to Deliver Fourfold Jump in Production

Tellurian Inc. on Wednesday reported a fourfold increase in quarterly natural gas production to meet a surge in demand triggered by Western sanctions against Russia over the Ukraine invasion.

Nord Stream Blast Inquiries Ongoing, Say Denmark, Sweden, Germany at UN

Investigations by Denmark, Germany and Sweden into explosions on the Nord Stream gas pipelines have not yet concluded, the three countries told the U.N. Security Council in a letter on Tuesday ahead of a meeting called by Russia on the September incident.

Kazakh Oil Decouples from Russian Crude But Risk Weighs on Price

Kazakhstan has separated its oil exports from those of Russian crude by launching its own KEBCO brand, but sanctions against Moscow are still putting pressure on the price of Kazakh oil pumped through Russian pipelines, data shows.

US Crude Oil Exports to Be In Demand This Year as Trade Flows Reshuffle

U.S. crude oil exports that have been boosted by a trade flow reshuffle in the aftermath of Russia's invasion of Ukraine will remain elevated this year as Europe and Asia search for supplies, company officials and analysts said.

Putin Lauds Gas Giant Gazprom, Says Asian Demand Will Soar

"Despite unfair — to put it bluntly — competition, direct attempts from the outside to hinder and restrain its development, Gazprom is moving forward, launching new projects," Putin told Gazprom CEO Alexei Miller.

Gas Flow Continues After Fire at Russian Pipeline, No Injuries

Depressurization of an export gas pipeline transiting the Myshkinsky district of the Yaroslavl region north of Moscow sparked a fire but caused no casualties on Monday, Russia's emergencies ministry said.

CEZ Seeking $45 Million in Damages from Gazprom for Gas Undersupply

Czech utility CEZ said on Thursday it had initiated international arbitration in Geneva against Russian gas company Gazprom seeking compensation for lower-than-contracted gas delivery last year.

Russia's Novatek, India's GAIL Poised to Seal Gas Sales Deal

Russia's largest LNG producer, Novatek, is close to a deal to supply gas to GAIL (India) Ltd. as it seeks alternative markets to Europe, three industry sources said. The companies are negotiating the terms of a contract and could seal an agreement within a week, the sources said, adding volumes would depend on logistics, such as shipping and insurance.

Shell Still Taking LNG Cargoes from Russia Under Novatek Contract

The world's largest LNG trader agreed a more than 20-year deal in 2015 for Novatek to supply around 900,000 tonnes per annum from the Yamal LNG plant in Siberia.

Russian Gas Supply Hit Pushes India's GAIL to Scout for Long-Term LNG

GAIL (India) Ltd. is scouting for long-term gas import deals and hopes to sign one contract shortly to make up for disrupted supplies from a former unit of Russian energy giant Gazprom, its head of finance said on Monday.

Russia's Sakhalin 2 May Double LNG Revenue as Top Buyers Stay Despite Ukraine Crisis

Russia's Sakhalin 2 LNG project could generate twice the revenue this year that it did before the Ukraine conflict thanks to long-term deals with Asian buyers and higher prices, according to analysts and Reuters calculations.

Pakistan Could Start Importing Russian Oil After March

Russia could start exporting oil to energy-starved Pakistan after March if terms are agreed and is discussing with Islamabad whether payment could be made in the currencies of "friendly" countries, Russia's energy minister said on Friday.

Russian Gas Exports to Europe Plunge 22% in January - Reuters

Daily pipeline gas exports by Kremlin-controlled energy giant Gazprom to Europe fell 22% in the first half of January compared with December amid milder than usual weather, Reuters calculations show.

Wintershall Dea to Leave Russia, Causing $8 Billion Loss at Parent BASF

Chemicals giant BASF on Tuesday unveiled a $7.9 billion non-cash impairment on Wintershall Dea, after the oil and gas exploration joint venture decided to exit Russia following its invasion of Ukraine.