Rosneft and Essar Agreed on Key Terms of Oil and Oil Products Supplies to Essar Refineries

The last 48 hours witnessed a frenzy of diplomatic activities by Balkan and Southeastern countries with both Russia and Europe, underlining the importance of this area for the ongoing if relatively silent confrontation between Moscow and Brussels/Berlin.

Gazprom, the state gas company, has been at the forefront of Moscow’s push to expand its influence into the Balkans – a region beset with economic and political difficulties.

USA sees shale gas production decline, no progress observed in shale gas development abroad

The Blue Stream gas pipeline is important for ensuring stable gas supplies to Turkey. For instance, around 110 billion cubic meters of gas have been conveyed via Blue Stream since the start of commercial gas deliveries. The meeting participants stressed that Russian gas exports via that route were gradually increasing, and this upward trend could continue. In this regard, the parties confirmed their mutual intention to expand Blue Stream's capacity by 3 billion cubic meters.

Europe must wean itself off Russian gas and look to places like the Caspian Sea or the Middle East for alternative supplies, as the conflict in Ukraine underscores the importance of energy independence

US Vice-President Joe Biden claimed Russia is using energy as 'a weapon' and urged European countries to diversify sources for the purposes of energy security.

Gazprom and Eni address prospects for enhancing bilateral cooperation

Demand for Russian gas is still there

Gazprom and Petrovietnam discuss future cooperation in oil and gas sector