The Managing Director of Bank Mellat, Iran’s biggest private bank, has announced that the institution will invest $7 billion in the development of South Pars gas field, Iran’s largest resource holding some 30 percent of the country’s total proved gas reserves.

Plunging sales to Europe and falling energy prices are not only sapping the revenue of Russia's top natural gas producer Gazprom but also depriving the country's budget of much-needed funds.

Europe is luring twice as many liquefied natural gas (LNG) tankers as last year and more are expected in what is now the premium-priced market after a year-long demand slump in Asia.

Natural gas prices are surging in their biggest move in a week as severely cold weather boosts demand and pushes prices to a three-week high.

The Interior Department on Friday proposed the first-ever federal regulations for oil and natural-gas drilling in the Arctic Ocean requiring companies to prepare extensive contingency plans that could swiftly respond to and contain an oil spill in the region’s frigid, isolated waters.

The project to construct a new gas pipeline with a capacity of 63 billion cubic meters from Russia to Turkey has entered the execution stage, Russian energy giant Gazprom has said by a written statement on late Feb. 24.

Russia might direct a new pipe to Bulgaria functioning as a ramification of its planned gas pipeline to Turkey

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.

Ukraine has agreed to increase the cost of gas to consumer by 280 percent, and 66 percent for heating, as part of the IMF terms for getting extra financial aid, says Valery Gontareva the head of the National Bank of Ukraine.

BP DOESN’T SEE SIGNIFICANT SHALE GAS PRODUCTION IN EUROPE BY 2035