Russia is still likely to be Europe's biggest supplier of gas. Volume-wise, no one will be able to compete with Russia in Europe, at least for the next two decades.
The volume of gas supply via the western route might be boosted to 60 and to 100 billion cubic meters of gas a year.
There will be no US-style shale gas revolution in Europe, the president of the International Gas Union (IGU) has told
Wintershall will continue investing in its core regions, with Russia remaining the most important area for the company.
Greece expected to sign a memorandum on Turkish Stream during the St. Petersburg International Economic Forum, which will be held June 18-20.
Russia's Gazprom plans to start building a pipeline to Turkey this month to get gas to Europe without going through Ukraine, company sources said, although it has no firm agreement with Ankara and faces opposition from the European Union.
The US and EU sanctions are primarily targeted at the country's oil industry, for very obvious reasons. Russia provides about 30% of Europe's gas, so it's simply not in the EU's interests to compromise Gazprom's ability to produce and export gas.
Russian natural gas producer Gazprom put Ukraine's total gas debt at almost $29.5 billion on Thursday, ratcheting up pressure in a gas pricing dispute with the country, which is fighting a pro-Moscow rebellion on its eastern outskirts.
Norway's previously long-standing cordial relations with Russia have deteriorated to the point that there is a real chance that simmering feelings could escalate, leading to a breakdown of cooperation in the oil and gas sector, writes Platts.
The European Union is forging, albeit with considerable debate and obstacles due to the national strategies of its member states, a long-term Energy Union that has natural gas as its basic component. EU energy diversification tools, which include LNG, see LNG steadily emerging as a basic method to achieve its Energy Union goals.