Wednesday, June 23, 2021
A senior German government official has said the country plans to directly regulate Russia's controversial Nord Stream 2 gas pipeline using its national sovereignty, OilPrice.com reports. This means only the EU section of the underwater gas link is set to be covered under agreed-in-principle changes to the EU's gas directive. "We would like...
Baltic LNG, Gazprom’s new chemical and liquefied natural gas (LNG) project in the port of Ust-Luga, will be supported by Russian state-owned development bank VEB with up to 111 billion rubles ($1.6 billion), the lender announced last week, according to Finanz.ru. The announcement follows comments made by Russian prime minister...
The first section of the Power of Siberia natural gas pipeline that will pump gas from Russia’s Irkutsk and Yakutia to Shanghai is halfway completed, but it looks likely that the alternative ‘western route’ of the pipeline, or Power of Siberia 2, will be constructed, Nezavisimaya Gazeta reported. According to the newspaper,...
Russia’s energy industry broke another record in 2018, with 556 million tons of oil and 725 billion cubic meters of gas produced in the country last year, Russian Energy Minister Alexander Novak said at a meeting Thursday with President Vladimir Putin, according to Investing.com Russia. The minister said gas exports,...
Russia can quadruple its production of liquefied natural gas (LNG) by 2035, the head of the Department of Oil and Gas Production and Transportation at the Russian Energy Ministry Alexander Gladkov has said, according to Kommersant. "If all LNG projects are implemented, Russia will have a capacity to produce...
Russia’s largest independent gas producer, Novatek, has signed a long-term contract with a Chinese partner as it aims to expand its presence in the fast-growing Asian-Pacific region, RT reported. The deal with Shenergy Group will see Novatek deliver over three million tons of liquefied natural gas (LNG) to terminals in...
Global oil demand will recover to pre-pandemic levels only by the end of 2022, for the first time exceeding 100 million bpd. This is stated in the June report of the International Energy Agency (IEA). In this scenario, OPEC + countries will need to ease restrictions on oil production...
Global palladium prices soared to a new record on Tuesday as supply concerns for the autocatalyst metal were driven by the risk of a ban on some Russian exports, Reuters reports. As of 0642 GMT, spot palladium rose 0.4 percent to $1,589.83 an ounce, after marking an all-time high of...
Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan on Tuesday took part in a symbolic ceremony marking the beginning of construction of Turkey’s first nuclear power plant, Anadolu news agency reported. The two leaders watched cement pouring at the $20 billion Akkuyu nuclear power plant through a video link...
Russian gas producer Novatek has moved a step forward with its plans to build a $1 billion liquefied natural gas (LNG) trans-shipment terminal in the Russian Far East, Natural Gas World reports. On Monday, the company signed an agreement of intent with the Russian ministry for the development of the...

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