The Strait of Hormuz is a vital maritime transit route for world energy trade. About 20 million barrels of oil transit each day through the Strait, or about 20% of global supply. It is also the route for around a quarter of global liquefied natural gas trade.

"We are committed to keeping the Strait of Hormuz open and secure," Pompeo said.

The new rules cast doubt over the commercial operation of Nord Stream 2, which argues that it has been unfairly targeted by fast-tracked legislation to stall the project.

Russia has said it wants to cut substantially its gas flows to Europe via West-leaning Ukraine by doubling the capacity of the existing Nord Stream trunk via the Baltic Sea and laying gas pipes to Turkey and onwards through the Black Sea.

U.S. exports of liquefied natural gas (LNG) have been growing steadily and reached a new peak of 4.7 billion cubic feet per day (Bcf/d) in May 2019,

Over January-June, China imported a total 28.37 million mt of LNG, up 19.3% year on year, the latest data from the General Administration of Customs showed.

Russia’s Gazprom, the world’s largest conventional gas producer, has raised about $2.20 billion from selling a 2.9% stake to a single buyer at a large discount to the market price.

Japan's oil and gas equity ratio rose to a record 29.4% of total imports and domestic output in fiscal 2018-2019 (April-March)

U.S. Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the second quarter of 2019, according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 3.1 percent.

TVEL, the nuclear fuel manufacturer subsidiary of Russia's Rosatom, has signed a supply contract for units 7 and 8 of the Tianwan nuclear power plant in China's Jiangsu province. The customers are Suneng Nuclear Power Corporation and China Nuclear Energy Industry Corporation, which are both subsidiaries of China National Nuclear Corporation (CNNC).