Gazprom and Germany say Nord Stream 2 is purely a commercial project. Gas demand in Germany is growing as it cuts dependence on nuclear and coal power.

EIA forecasts Brent crude oil prices will average $47/b in 2021.

"India is set to nearly double its energy consumption over the long-term," Prime Minister Narendra Modi told the virtual forum. "Our energy sector will be growth-centric, industry friendly and environment-conscious."

The average contract price for spot LNG cargoes shipped to Japan in October rose to $6 per million British thermal units (mmBtu)

UOKiK on Oct. 7 imposed a fine of more than Zloty 29 billion ($7.62 billion, Eur6.48 billion) on Russian gas giant Gazprom for building Nord Stream 2 without its approval, as well as a fine totaling Zloty 234 million on five European companies that helped finance the project.

"Global LNG supply will be moving from sufficient to tight in the next five years, with supply-demand differential falling from 200 Bcm in 2020 to 50 Bcm in 2025,"

Total recently shipped its first carbon-neutral LNG cargo sourced from Australia’s Ichthys LNG to CNOOC. The emissions created by the LNG cargo were offset by carbon credits procured through investments in wind energy and forest protection projects.

The OPEC delegation was led by HE Mohammad Sanusi Barkindo, Secretary General, and the GECF delegation was headed by HE Yury Sentyurin, Secretary General.

U.S. Rig Count is up 4 from last week to 300, Canada Rig Count is unchanged from last week at 86

"In just two weeks, a new piece of infrastructure will be ready," Nassirov said, referring to the Trans-Adriatic Pipeline.