"The change in the procedure for settlements is introduced due to the fact that, in violation of international law, the foreign exchange reserves of the Bank of Russia were frozen by the EU member states," the Kremlin said.

CNOOC has a 10% stake in the 19.8 million mt/year Arctic LNG 2 project, which is also its solo asset in Russia.

"Japan has a stake in Sakhalin 2, which is contributing to securing long-term, stable and low-priced supply of LNG. It is an extremely important project for Japan's energy security," Kishida told parliament.

U.S. commercial crude oil inventories decreased by 3.4 million barrels from the previous week to 409.9 million barrels.

Russian gas deliveries to Europe on three key pipeline routes were broadly steady on Wednesday morning

Crude oil exported from countries including Kazakhstan, Azerbaijan, and Turkmenistan moves through Russia’s energy export infrastructure.

Croatia and Slovenia have decided to strengthen their energy cooperation, especially in the field of gas and nuclear power.

Russian gas deliveries to Europe on three main pipeline routes were stable on Monday morning, with the Yamal-Europe pipeline continuing to flow eastwards from Germany into Poland.

Following a meeting with European Commission President Ursula von der Leyen in Brussels, President Joe Biden announced a new task force between the US and EU with a "joint game plan" to quickly reduce Europe's dependence on Russian gas

Japan's Sakhalin Oil and Gas Development (SODECO) owns a 30% stake in the Sakhalin-1 project from which Exxon has said it would exit. Japex owns 15.285% in SODECO.

U.S. commercial crude oil inventories decreased by 2.5 million barrels from the previous week to 413.4 million barrels.

«Ключевым проектом сотрудничества двух стран в сфере энергетики является «Пакистанский поток». Российская сторона рассчитывает на подписание соглашения об оказании содействия проекту Правительством Пакистана и акционерного соглашения в ближайшее время», - сказал Николай Шульгинов.

Gas prices surged 10%, with ICE Brent futures rising to $1,359/1,000 cu m, up from $1,240/1,000 cu m following Putin's remarks

Speaking to the Bundestag parliament, Scholz said German will continue to look to reduce its dependency on Russian oil and gas but warned "hasty" action could trigger a recession.

Russia is one of the three largest crude oil producers in the world, after the United States and Saudi Arabia. European countries—which have not banned Russian energy imports—generally import more of Russia’s crude oil and petroleum products than the United States.