The company has already made contractual changes that remove restrictions on reselling gas and that require Gazprom to forgo any advantage gained from making gas supplies conditional on acceptance of gas pipelines. These changes came about because of pressure from the commission and increased competition on the European energy market.

"We are also on track to hit this year an absolute record of annual gas exports, both of Soviet times and the history of modern Russia,"

Gazprom has started to vary its marketing strategy by using a variety of methodologies, including selling gas via the traditional long term contracts, via auctions, via Gazprom Marketing & Trading and via Wingas (its 100% owned European utility). As a result it has gained flexibility (that was formerly in the hands of the European utilities) and can adapt much faster to market changes.

Gazprom has terminated a shareholder agreement for Nord Stream 2, a joint venture to build a pipeline between Russia and Germany, circumventing Poland and other countries, Russian press agency TASS has reported.

Poverty rates are estimated to have increased, with access to services hampered in conflict-affected areas. The international partners are ready to support the efforts of the government of Ukraine on recovery of the infrastructure and peacebuilding, tailored to the specific needs of conflict-affected communities.

The state-controlled Russian energy group will yield to EU demands on how it sells gas in Europe in order to escape a penalty for past anti-competitive behaviour. The bargain is likely to anger eastern and Baltic states that have campaigned for a tougher approach.

Deputy Minister of Petroleum and Managing Director of National Iranian Gas Company (NIGC) Hamid-Reza Araqi says Iran is not rival to Russia in European gas market.

Europe sees Israel and the region as an important supplier of gas to Europe

The $45bn complex pipeline project running from Azerbaijan to Italy and consisting of four mega projects – Shah Deniz 2, South Caucasus Pipeline expansion (SCPX), Trans-Anatolian Pipeline (Tanap), and the Trans-Adriatic Pipeline (TAP) – would be delivered and will come in under budget, eventually delivering 16-32bn m³/yr.

“This important contract is a key milestone for the Nord Stream 2 project: It will provide the logistical back-bone for the construction phase and is fully in line with our project schedule,” said Nord Stream 2 chief project officer Henning Kothe. “We are also pleased that Wasco will be co-operating with the ports, which successfully participated already in implementation of the existing Nord Stream.”