OAO Novatek announced Thursday that Novatek Gas & Power, a wholly owned trading subsidiary of Novatek, has signed a long-term contract with Shell International Trading Middle East for the supply of LNG from the Yamal LNG project.

OAO Rosneft may have to turn to competitors to buy natural gas and state aid to help honor a $50 billion contract it won away from OAO Novatek three years ago, according to two people with knowledge of the matter.

A flagship Russian gas project may soon test Moscow’s newfound willingness to cede greater control of its energy assets to Beijing in exchange for much-needed Chinese financing.

In the case of Gazprom, the commission has found that the Russian energy company charges different prices across the EU. Lithuania, for instance, at times pays a third more than Germany.

National Oilwell Varco, Inc. (NYSE: NOV) reported that for its first quarter ended March 31, 2015, it earned net income of $310 million, or $0.76 per fully diluted share, compared to fourth quarter ended December 31, 2014 net income of $595 million, or $1.39 per fully diluted share. Excluding other items of $122 million in pre-tax charges related to an early retirement program, $9 million of Venezuela asset write-down, and $69 million of nonrecurring foreign tax exposure, net income was $466million, or $1.14 per fully diluted share, down 33 percent from the fourth quarter of 2014, and down 12 percent from the first quarter of 2014, excluding other items from all periods.

There was no clear answer to the question of where LNG for Europe might come from in a session devoted to the topic at the European Gas Conference in Vienna, Austria, but that didn't mean that panel participants were unable to provide a wealth of information and insights to the discussion.

Looking into 2015 we face a very challenging market.

Russia announced state aid for a major energy project on Wednesday under a drive to shore up strategic firms as well as public faith in its banking system during an economic crisis deepened by Western sanctions.

Total SA and its partners will use a record 16 ice-breaking tankers to smash through floes en route to and from the Arctic’s biggest liquefied natural-gas development.

Gazprom has said it could shelve its Vladivostok liquefied natural gas project as the Russian state-controlled energy giant focuses on supplying more gas to China by pipeline.