RUSSIA & KUWAIT COOPERATION
Russia's President Vladimir Putin met with Emir of Kuwait Sabah Al-Ahmad Al-Jaber Al-Sabah this week to discuss opportunities for cooperation in the fields of energy and diplomacy. The two countries also signed a memorandum for military technical cooperation.
"Following their talks, the two heads of state attended the signing of a package of documents," a statement released by the Kremlin on Tuesday says. "These include an intergovernmental agreement on visa-free travel for holders of diplomatic, official and special passports, and memorandums on cooperation in culture and the arts and in transportation, of intent in military technical cooperation and on mutual understanding between Gazprom and the Kuwaiti Oil Corporation."
The memorandum of understanding between Kuwait Petroleum Corporation (KPC) and Gazprom was signed by KPC's CEO Nizar Al-Adsani and Gazprom's Chairman of the Board of Directors, Alexey Miller.
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BLOOMBERG - While Europe as a whole gets more than a third of its gas from Russia, that share is lower in the U.K., which receives the bulk of its fuel from North Sea fields and Norway. Still, Moscow-based Gazprom PJSC was the second-biggest supplier to major industrial consumers in the U.K. last year, according to Britain’s energy regulator Ofgem.
FT - of the six LNG tankers that have made deliveries into the UK so far in 2018 three have carried cargoes originally from Russia, leading to questions about whether Moscow was gaining a foothold in the UK gas market after starting up the Yamal LNG facility in Siberia late last year.
REUTERS - So far this year, two Yamal cargoes unloaded at British terminals for domestic consumption, accounting for about a third of Britain’s 2018 LNG imports after typical supplier Qatar pre-sold the bulk of its winter output to Asia last year.
REUTERS - U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $60.77 a barrel at 0753 GMT, up 6 cents, or 0.1 percent, from their previous settlement. Brent crude futures LCOc1 were at $64.62 per barrel, down just 2 cents from their last close.