Algeria and Libya may reduce deliveries to Europe in the next two to three years because of political instability, lack of investment and contract renegotiations, according to Carlo Malacarne, CEO of Italy’s Snam, Europe’s biggest gas transmission operator by pipeline length and storage capacity. Its Italian network includes entry points for gas arriving from North Africa and Russia.

Gazprom would need to bring spot gas prices below $4 per million British thermal units (mmBtu), versus around $5.65 per mmBtu now, to shut Europe off to U.S. imports - a level Goldman Sachs expects could be reached by 2018/2019.

Rosneft, a company led by Igor Sechin, said that in the first nine months of 2015 it produced 45.92 billion cubic metres (bcm) of gas, increased from 40.87 bcm in the same period last year. On Friday, Gazprom reduced its 2015 forecasts to 427 bcm, a significant decrease on its forecasts released six months ago,which expected production for the year to reach 485 bcm.

Referring to the Nord Stream projects I & II, former Deputy Prime Minister of Poland Janusz Steinhoff said: “From the point of view of domestic diversification and policy, these projects are extremely irrational, because these are examples of bypassing various regulations to liberalize the gas markets which are in place in the European Union. In other words, Nord Stream I & II are not subject to regulation that gas pipelines running through the EU are, and this is an evident example of an irrational approach and a lack of solidarity in Europe.”

Turkey said in February it struck a deal giving it a 10.25 percent price discount on gas from Russia's Gazprom but that accord was not signed and state pipeline operator Botas said last week it had appealed to the International Chamber of Commerce (ICC) after months of fruitless talks. "An agreement was clinched on the 10.25 percent, therefore we are taking that as our base level, but will seek a higher discount at international arbitration," Alaboyun said in an interview.

Sakhalin II is one of the most successful export projects targeting the Asian-Pacific region. The key to success lies in integration: it is managed and operated by Sakhalin Energy Company and its shareholders: Gazprom (50% and 1 share), Shell (27.5% minus 1 share), Mitsui (12.5%), Mitsubishi (10%).

Even under the evolving market conditions, Gazprom is confident that it can retain its competitive position and market share in the Asia-Pacific region.

Gazprom goes on developing LNG sales from its portfolio. Over the first 6 months of 2015 it sold 22 LNG cargoes with the total volume exceeding 1.5 million tons, thus showing a 17 per cent increase as compared to the same period of the previous year. This is equivalent to the total LNG sales in 2013.

Nord Stream II would consist of two lines, doubling the 55-bcm annual capacity of the Nord Stream offshore pipeline which already runs from Vyborg near Russia's border with Finland to Greifswald in Germany.

Rosneft, as part of a PetroMiranda JV including PDVSA and Gazprom Neft, has drilled an unprecedented horizontal well GG1-14 at the Junin-6 block. The well is unique for the shallow depth, only 1,140 feet or about 347 meters, of the reservoir interval and the length of horizontal section 4,920 feet or 1,500 meters. The total length of the well is 6,059 feet (some 1,847 meters).