Gazprom and Moldovagaz extended the contract for Russian gas supplies to consumers in the Republic of Moldova from November 1, 2021, for a period of five years on mutually beneficial terms.

U.S. Rig Count is up 2 from last week to 544, Canada Rig Count is up 2 from last week to 166.

Amid strong demand, Gazprom has substantially expanded its gas production: over the past 9.5 months of 2021, it went up by 56.7 billion cubic meters (or 16.6 per cent) against the same period of last year.

The Company's work in this promising direction will make it possible to strengthen the position of Gazprom in foreign markets and address in a more flexible manner the tasks related to providing reliable gas supplies to domestic consumers.

The Jazan IGCC project will convert vacuum residue to be produced in the adjacent Jazan refinery (400,000 bbl/d) into synthesis gas (syngas).

Chinese energy firms and government researchers expect a significant increase in gas demand for power generation and industrial sectors this winter as a nationwide coal supply crunch and power outtages drive up demand for alternative fuels.

The increase in supply should help alleviate some of the price pressure in the domestic gas market as trucked LNG prices have soared to more than Yuan 7,000/mt ($1,093.82/mt), imported LNG remains over $30/MMBtu in the spot market and wider energy shortages persist amid cold weather.

On Tuesday, Moldova received a million cubic meters of gas from Poland in a move aimed at diversifying its energy supply following years of strong Russian influence over the small European nation of 3.5 million people.

Kremlin-controlled Gazprom cut supplies to Moldova by one-third last month following the end of a long-term contract and demanded more than double the previous terms to keep gas flowing.

A meeting of the joint working group of Gazprom and the Government of Mongolia on the implementation of the Memorandum of Understanding regarding the project for pipeline gas supplies from Russia to China across Mongolia took place today in Ulan-Bator, Mongolia.