The standoff between Russia and the West over Ukraine has increased Europe's quest for alternative suppliers of oil and gas and Canada's exports to Europe have already started to pick up in the last few months.

A Bad Gas Deal For Ukraine As Europe Looks After Its Own Interests

Spain’s national government has moved once again to boost domestic oil and gas exploration

The United States exported 401,000 barrels per day (bbl/d) of crude oil in July 2014

Russia is set to remain a central player of the European gas industry, as an eventual deal between Kiev and Moscow is not a precondition of strong ties between the European Union and the Kremlin. This is was a view emerging from the first day of the European Autumn Gas Conference.

British wholesale gas prices for the rest of this year fell on Friday after Ukraine and Russia signed a deal which will see Moscow resume supplies of gas over the winter.

Ukraine and Russia resolved their natural-gas feud on Thursday in a hard-fought deal that averts the threat of gas shortages in Europe this winter.

The European Union's executive body is close to signing off on two disbursement of loans promised to Ukraine that would give Kiev about EUR760 million ($965 million) in additional funding by the end of the year, two senior officials said Tuesday.

Ukraine is likely to face energy shortages this winter if last-ditch talks to resume gas supplies from Russia fail on Wednesday.

Natural gas is creating a new reality for economies around the world.