Putin said Ukraine still had work to do to align its gas regulatory landscape with that of Europe, questioning whether Kiev would be able to achieve this in time. "That is not up to us," he said. "Therefore, the risk of termination of transit exists."

U.S. Rig Count is down 11 rigs from last week to 806, Canada Rig Count is down 6 rigs from last week to 134

Blistering growth in shale fields propelled U.S. crude output to a record 13 million barrels per day (bpd) this month.

"The law implements a European compromise, in which we, together with France and the Commission and other member states played a major role," Altmaier said.

The timeline for work to lay the section of pipeline in Danish waters will be key to when Nord Stream 2 is able to begin flowing gas, with wider implications for the European gas market -- including whether Russia's Gazprom agrees a new transit deal with Ukraine's Naftogaz.

U.S. Rig Count is down 5 rigs from last week to 817, Canada Rig Count is down 2 rigs from last week to 140,

Alexey Miller pointed out that a number of strategic issues need to be resolved prior to the signing of a new transit contract.

Global demand for energy is forecast to increase from nearly 286 million barrels of oil equivalent a day (mboe/d) in 2018 to more than 357 mboe/d in 2040, with average growth of about 1% p.a. In this period, energy demand in non-OECD countries is expected to increase by almost 75 mboe/d, while demand in the OECD is estimated to drop by around 3 mboe/d.

Gazprom has offered to Naftogaz the chance to start over with a clean slate provided all legal disputes were dropped. "There are known cases in international practice when disputes between companies were settled out of court, and we are offering a zero option whereby all court proceedings would cease, all lawsuits would be withdrawn, and we would draw a line under this whole affair," Miller said last month.

Let’s see which companies are still undervalued and which ones are out of my radar. Some of them reached their fair value and some other stopped to satisfy my parameters.