Natural gas is creating a new reality for economies around the world.

Russian natural gas giant Gazprom believes that winter 2014/2015 may be “colder than usual”.

Although it is in Serbia’s interest that the South Stream gas pipeline is built, the government in Belgrade faces the fine balance between the interest of providing energy security and the need to harmonize with the policy of the EU, which it is looking to join.

Naftogaz Sets Aside $3.1 Billion to Pay Ukraine Gas Bill to Gazprom, CEO Says

Ophir in talks to buy Salamander Energy

Petrom, ExxonMobil start drilling third deepwater well in Romania

The Ukraine crisis caused relations between Russia and the EU to fall to their lowest point since the Cold War. But despite the bickering and outright conflicts, both still need each other: Europe relies on Russian gas to keep warm, and Russia in turn needs revenues. With winter on its way and capital flight from Russia reaching dangerous levels, the outlook should draw the EU and Russia back together.

Schlumberger Ltd, the world's largest oilfield services company, said oil and gas spending would increase in 2015 as global oil demand is poised to rise, downplaying fears of an investment slowdown due to weak crude prices.

Japan continues to import record volumes of LNG amid delays in nuclear restarts

As the European calls for diversification away from Russian sources of natural gas continue in the wake of the Ukraine crisis, a just released study from The Brookings Institution shows that the European Union is likely to be using a lot of Russian gas even by the year 2040.