While many may be counting on US LNG as an alternative solution to solve the diversification dilemma in Europe, Sergei Komlev, Head of Contract Structuring and Price Formation Directorate, Gazprom Export, says "not so fast."

The strategic task of the European Union's Energy Union is to diversify sources and delivery routes of energy in order to guarantee energy security for the EU and make energy prices controllable

At the very beginning of developing the region’s life in the early 1970s, the Government turned to the British National Oil Corporation (BNOC) and the partly state-owned British Petroleum to kick start oil production offshore of Aberdeen.

Spain has welcomed a new agreement to connect its energy network with those in Portugal and France as a major step toward breaking Europe's dependence on Russian gas supplies.

Russian billionaire Mikhail Fridman began building an international energy company on Monday, closing a €5.1 billion ($5.7 billion) purchase of German utility RWE AG ’s oil-and-gas business over British opposition that could force the sale of the unit’s U.K. assets.

Russian billionaire Mikhail Fridman said on Monday he would buy a number of gas licenses in the North Sea despite British opposition, threatening legal action if London should force him to sell them on to a third party.

Russia may sign an intergovernmental agreement on the Turkish Stream gas pipeline in the 2nd quarter of 2015.

LUKOIL has published consolidated US GAAP financial statements for 2014. The Company’s 2014 net income reached $4,746 million. EBITDA reached $15,982 million in 2014.

John Browne, the former chief executive of BP, will take charge of a $10 billion oil and gas venture backed by Russian billionaire Mikhail Fridman to help it expand internationally through partnerships and acquisitions, the Financial Times reported.

The UK has blocked the sale of North Sea gasfields from Germany’s RWE to a multibillion-dollar investment fund backed by Russian billionaire Mikhail Fridman.