The Commission would assess it "rigorously against the European regulatory framework," it said, and the project would have to comply with environment, competition and public procurement rules.

“There are a lot of gas projects under development in the world, and that will drive demand for more ships,” Kim said Oct. 28. “Growing environmental concerns also are pushing demand for more gas-powered power plants, which means there will be more demand for gas.”

Sakhalin II is one of the most successful export projects targeting the Asian-Pacific region. The key to success lies in integration: it is managed and operated by Sakhalin Energy Company and its shareholders: Gazprom (50% and 1 share), Shell (27.5% minus 1 share), Mitsui (12.5%), Mitsubishi (10%).

Long term, US LNG, will be cheaper on a cost basis than LNG from most of the rest of the world, according to Kimball Chen, Chairman, Energy Transportation Group.

Even under the evolving market conditions, Gazprom is confident that it can retain its competitive position and market share in the Asia-Pacific region.

BP and China Huadian Corporation (Huadian) today signed a sale and purchase agreement for BP to sell Huadian up to 1 million tonnes of liquefied natural gas (LNG) per year worth up to $10 billion over the next 20 years.

Gazprom goes on developing LNG sales from its portfolio. Over the first 6 months of 2015 it sold 22 LNG cargoes with the total volume exceeding 1.5 million tons, thus showing a 17 per cent increase as compared to the same period of the previous year. This is equivalent to the total LNG sales in 2013.

Four years ago, the International Energy Agency predicted global demand for the heating and power plant fuel would climb 16% by 2016. Now, it’s projecting 11%, and terminal developers are taking note. Excelerate Energy’s floating terminal in the Gulf of Mexico has been postponed. Inpex delayed the start of an LNG project in Australia by almost a year to the third quarter of 2017.

"...in Europe investment signals are unclear. As a result of EU policy and lack of an expressed role of gas in these policies, there is an additional political risk concerning future European gas demand," Norway's Oil and Energy Ministry said in its reply to the European Commission, as a part of wider consultations on the EU's strategy on LNG and gas storage.

Saudi Arabia’s policy has resulted in about $220 billion worth of investment cuts worldwide, much of which is a result of project deferrals, including deepwater projects off West Africa and in the Gulf of Mexico.