"Not only willing to cooperate with Zarubezhneft Company as investor in the fields, we are also calling for fully benefiting from their state of art technology,"

Ramezani told the Panel of Prospect of Gas Industry in Next Half a Century that the deal is expect to prepare the condition for export and shipment of gas to West Europe.

"Incahuasi is one of the largest gas and condensate fields brought on stream in Bolivia. Incahuasi’s production will contribute to Bolivia’s gas exports to Argentina and Brazil as well as domestic consumption”

Between January-July, flows totaled 66.52 Bcm, 16% higher than the cumulative total for the same period last year and 13% up on the previous record high for the January-July period of 58.73 Bcm from 2014.

Nabors Industries Ltd. ("Nabors") (NYSE: NBR) today reported second quarter 2016 operating revenues of $571.6 million, compared to operating revenues of $597.6 million in the first quarter. Net income from continuing operations for the quarter was a loss of $186.6 million, or ($0.65) per diluted share, compared to a loss of $396.6 million, or ($1.41) per diluted share, last quarter. Net income from continuing operations for the second quarter includes a loss of $0.39 per share due to impairments and losses related to disposed businesses and assets. The largest component, totaling $0.34 per share, is comprised of an impairment to the carrying value of the Company's investment in C&J Energy Services Ltd. ("C&J") and its proportionate share of C&J losses from the prior quarter. In addition, the second quarter benefitted from the renegotiation of two contracts, as well as early termination revenue that improved reported net income by $24.1 million or $0.09 per share.

The $10bn Tapi project is aimed to carry 33bn m³/yr of gas to the participant countries by 2021. Ashgabat has an 85% stake in the challenging project, which equates to one third of the country's total yearly budget.

The Bangka project, majority owned by Chevron, will start operation in August, Wiratmaja Puja, the director general of oil and gas at Indonesia's Energy Ministry, told Reuters in an interview. Italian oil firm Eni's Jangkrik project is 80 percent complete and is expected to commence operation in July 2017, he said.

Mozambique made one of the world's biggest gas finds in a decade in 2010 but negotiations with operators Eni and U.S. firm Anadarko have dragged on for years due to disputes over terms and concerns about falling energy prices.

Low oil prices are expected to have a negative effect on the US LNG export industry. LNG export markets are tied to oil indexing. With crude oil prices decreasing by 50% over the past year and a half, the US Henry Hub market is losing its price advantage. This scenario not only minimizes projected LNG export revenues, but it also makes financing capital-intensive LNG facilities more difficult.

U.S. Rig Count is up 1 rig from last week to 463, with oil rigs up 3 to 374, gas rigs down 2 to 86, and miscellaneous rigs unchanged at 3. Canadian Rig Count is up 17 rigs from last week to 119, with oil rigs up 12 to 60, gas rigs up 5 to 58, and miscellaneous rigs unchanged at 1.