OMV already has a long-term Russian gas import contract with Gazprom for 6 Bcm/year for deliveries to Austria that is set to run until 2040.

The preliminary level for dry natural gas production in September 2020 was 2,678 billion cubic feet (Bcf), or 89.3 Bcf/d. This level was 5.4 Bcf/d (-5.7%) lower than the September 2019 level of 94.7 Bcf/d.

Construction work on the Nord Stream 2 gas pipeline in the Baltic Sea will resume this week, despite U.S. sanctions designed to end the pipeline that will bring Russian gas to Germany.

The DNV GL spokesman said: "Under these new guidelines, we find DNV GL's verification activities linked to vessels with equipment serving the Nord Stream 2 project to be sanctionable."

"The macroeconomic situation has had a negative impact on the long-term development prospects of the LNG industry," Gazprom said, adding that so far in 2020 only one final investment decision had been made for a new LNG production project.

In the shale gas sector, the most affected player has been the United States, which accounts for about 95 per cent of global shale gas production. According to analysts, the growth rates of U.S. shale gas production may show a considerable decrease in the coming years.

U.S. Rig Count is up 10 from last week to 320 , Canada Rig Count is up 1 from last week to 102,

Santos, along with Australia's other east coast LNG projects Australia Pacific LNG and Queensland Curtis LNG, have come under pressure from the federal government in recent years to ensure domestic supply amid concerns of shortages since the development of the export projects.

Preliminary production figures for October 2020 show an average daily production of 1 877 000 barrels of oil, NGL and condensate.

Rupantarita Prakritik Gas Company, which is in charge of Bangladesh's LNG imports, had earlier cancelled two tenders for November and early December delivery, again citing high prices