Despite having already spent hundreds of billions of euros ensuring storage sites are filled this winter and providing support to households and businesses, the strain on public funds as well as pain for households and businesses are likely to continue next year.

The 2023 contractual expiries represent roughly 8% of Japan's annual LNG imports of around 74 million mt, a level that will likely be difficult to replace with incremental supply from other long-term term contracts and short-to-mid-term contracts amid tight LNG markets.

Egypt has two LNG export facilities -- the 7.2 million mt/year Shell-operated Idku facility and the smaller Eni-operated 5 million mt/year Damietta plant.

Failure to reach a deal would send a signal that the EU’s united response to the war-driven energy crisis is falling apart -- a political gift for Moscow that Europe is keen to avoid.

The German government has announced it will introduce a €54bn package of measures aimed at supporting German companies and households amid rising energy prices.

Exceptionally mild weather across Northwest Europe since October has led to a sharp drop in gas prices from record levels over the summer.

This agreement is the second LNG SPA between QatarEnergy and Sinopec, following the 10-year SPA signed in March 2021 for the supply of 2 Mt/year (2.8 bcm/year) to China.

Preliminary production figures for October 2022 show an average daily production of 1 950 000 barrels of oil, NGL and condensate.

They focused on prospects for implementing the initiative to create a major gas hub in Turkiye. The President of Russia voiced this initiative in October, and Recep Tayyip Erdogan supported it.

They reaffirmed mutual interest in continuing close coordination in the energy sector to ensure the necessary balance and stability in the global gas market, among other things.

Meanwhile, the European Union is continuing talks about ways to limit spikes in gas prices ahead of a meeting of energy ministers next week.

The electric grids at most risk of supply shortfalls are in Texas, the central US system stretching from the Great Lakes to Louisiana, New England and the Carolinas, the North American Electric Reliability Council said in its seasonal assessment Thursday.

Benchmark gas futures settled 9.2% higher, following an increase of 16% on Monday. Freeport LNG in Texas will likely extend an outage that began in June, increasing global competition for much-needed supplies right before the winter.

Japan sees an equity stake in the Sakhalin 1 oil, gas project important as it relies around 95% on Middle Eastern oil imports.

According to preliminary data, Gazprom produced 359.7 billion cubic meters of gas from January 1 through November 15, 2022. This is a decrease of 19.2 per cent (or 85.3 billion cubic meters) versus the same period of last year.