Ukraine is facing a huge energy-security challenge. It is dependent on Russia supplying most of its natural gas as well as uranium fuel for its nuclear reactors.

The Russian government is requesting that state-owned gas giant Gazprom provide discounted gas to the struggling government in Ukraine.

Turkey and Greece are back under the spotlight as Russia’s Gazprom restated the importance of Turkish Stream for Greece’s energy security, while the Turkish Cypriot and Greek Cypriot leaders openly referred to the opportunity of resuming negotiations about the future of the Mediterranean island.

Talks between the P5+1 nations and Iran have failed to reach a conclusive outcome by the self-imposed 31st March deadline. The P5+1 nations and Iran have extended talks for a further 24 hours, in the hope that an outline agreement over Iran’s nuclear programme could be reached.

Oil markets remained volatile Mar. 24 while analysts anticipated a weekly government inventory report showing another climb in US oil and product supplies. US light, sweet crude prices edged up on Mar. 24 to remain under $48/bbl while Brent prices fell modestly to settle at above $55/bbl.

Russian oligarch Mikhail Fridman's battle to salvage his North Sea gas fields purchase will take weeks if not months to resolve as the British cabinet has left it for the next government to take the decision, sources said.

Europe's reliance on imports of natural gas is likely to rise from half to three quarters over the next two decades and Russia will continue to supply around 30 percent of EU needs, BP's chief economist said on Friday.

The United States will struggle to follow through on threats to impose deeper sanctions on the Russian energy sector, as European fears over collateral economic damage leave President Barack Obama's administration with diminished options.

Russia is using natural gas as a political tool and the United States needs to know if it is “on the same page” with Turkey regarding Russia’s actions, a top U.S. energy envoy has said.

Companies within Russia’s energy industry should take advantage of Cyprus’ existing and potential opportunities relating to natural gas infrastructural projects, Energy Minister Giorgos Lakkotrypis said on Friday.