The four strings will have an aggregate capacity of 63 billion cubic meters a year. 660 kilometers of the pipeline’s route will be laid within the old corridor of South Stream and 250 kilometers – within a new corridor towards the European part of Turkey.

Gazprom has put an expansion of its Nord Stream gas pipeline on hold, rowing back for the second time in two months on plans to extend its European network as relations between Russia and the West fester over Ukraine.

There is a process of an ever-increasing politicization which is sometimes also called a securitization.

Oil prices will stay lower for longer after more than halving since June, Goldman Sachs' (GS.N) chief commodity analyst said, arguing in his latest research note that demand growth in China and other emerging economies is set to slow.

OPEC’s secretary-general said oil prices as high as $200 a barrel are possible if producers fail to invest in new supply.

Russia's Gazprom plans to supply the first gas via a new route to Turkey in December 2016, Chief Executive Alexei Miller said in a statement on Tuesday.

As the world’s oil producers wring their hands over a global glut that’s pushing down prices, evidence is mounting that Saudi Arabia is more concerned about shrinking demand.

Saudi Arabia won’t balance global crude markets on its own even as prices fall “too low for everybody” and threaten the investment needed to meet long-term demand, the head of Saudi Arabian Oil Co. said.

Energy Transfer Partners LP (ETP) and Regency Energy Partners have agreed to merge in a unit-for-unit transaction, plus a one-time cash payment to Regency unit holders, valued at $18 billion, including the assumption of net debt and other liabilities of $6.8 billion.

After more than three years of US$100-110 per barrel oil, prices collapsed by nearly 50 percent in late 2014 as the market lost its "manager" after OPEC refused to cut production.