U.S. net imports of natural gas decreased 9% in 2014, continuing an eight-year decline. As U.S. dry natural gas production has reached record highs, lower domestic prices have helped to displace natural gas imports. Net natural gas imports (imports minus exports) totaled 1,171 billion cubic feet (Bcf) in 2014, the lowest level since 1987.

U.S. oil companies, still smarting from the crude price rout, are attracting a wave of new investment from unlikely sources - hedge funds and private equity firms flocking to the energy market for the first time to bet on a rebound.

"The Chinese market is a very interesting market for us. I wouldn't be surprised if in the future we are delivering LNG to China. And not necessarily small buyers, big buyers as well," said Zanen on the sidelines of the Asia Oil and Gas Conference in Kuala Lumpur, declining to give more information.

China's land reclamation around reefs in the disputed South China Sea is undermining freedom and stability, and risks provoking tension that could even lead to conflict, U.S. Deputy Secretary of State Antony Blinken told a conference in Jakarta.

The cutbacks by energy companies likely contributed to a drop in the production of industrial machinery, which fell 0.9 percent, its second straight decline. The strong dollar also likely held back machinery sales, because it makes goods more expensive overseas. Companies like Caterpillar are exporting fewer trucks, bulldozers and other industrial machines.

Europe’s oil capital is a victim of the sharp drop in oil prices since last year

U.S. Rig Count is down 6 rigs from last week to 888, with oil rigs down 8 to 660, gas rigs up 2 to 223, and miscellaneous rigs unchanged at 5.

Naftogaz's role is the creation of an efficient gas market in Ukraine.

The U.S. Department of Energy has advised American companies not to allow Chinese companies to invest in U.S. liquefied natural gas export projects, the head of one such venture told Reuters on Thursday.

Even with the decline in rigs, U.S. dry natural gas production continued to grow, reaching record highs in December 2014 of more than 74.3 billion cubic feet per day (Bcf/d), and retaining an average production in February 2015 of more than 74.2 Bcf/d, a 10% year-over-year rise from February 2014.