Oil output will reach 69 million tonnes of oil equivalent in 2016, against 67 million tonnes last year, while gas production will rise to 132.2 billion cubic meters (bcm) from 128.3 bcm in 2015 and 130.9 bcm in 2014, a Sonatrach report showed.

It is absolutely compatible with the Energy Union. It will be sustainable, affordable and help security of supply, he said. It will increase liquidity in Europe but nobody will be forced to buy the gas, which will be priced against hubs.

"We have such low production costs that we will always be able to cut the selling price by a dollar or two when it comes to fighting off a rival," said a senior source at Gazprom.

"We are glad that we've managed to maintain our positions on traditional markets, primarily in Europe," Sechin said pointing out to recent agreements with PKN Orlen to increase deliveries to Poland and the Czech Republic.

It is absolutely compatible with the Energy Union. It will be sustainable, affordable and help security of supply, he said. It will increase liquidity in Europe but nobody will be forced to buy the gas, which will be priced against hubs.

"We believe that the (function of) regulation has moved to three main players, which are the United States, Saudi Arabia and Russia," he said.

“This is a critical opportunity for Indonesia to implement further reforms that will enhance the competitiveness of its manufacturing and services sectors, especially tourism. In addition to ongoing reforms, a sound industrial strategy will be key, focused on technology transfer or capacity development in terms of product design, engineering and development in promising industries. To upgrade industries and climb the technological ladder, a strong partnership with the private sector will be crucial,”

The claim relates to a U.K. joint venture between the Chinese and a Canadian firm which the Spanish oil producer acquired last year.

Gazprom's Deputy Chief Executive Alexander Medvedev said the BG holdings could be included in an asset swap deal between Gazprom and Shell that was announced last year. He did not say what the BG holdings were or where they were located.

The parties addressed the Russian-Slovak cooperation in the gas sector, discussing, inter alia, the collaboration between Gazprom and Slovak companies in gas supply and its transit via the Republic.

Rosneft and Consortium of Indian Companies led by Oil India Limited along with Indian Oil Corporation Ltd. and Bharat PetroResources have signed the agreement of sale and purchase of 23.9% in Vankorneft and the shareholders agreement at the XX St. Petersburg International Economic Forum.

“Now is our chance, and we have a window of three or four years to act,” before the balance of supply and demand might change, said Ken Koyama, a managing director and senior economist at Japan’s Institute of Energy Economics, which advises the Japanese government on energy policy.

Shipping 110bn m³/yr would cost Gazprom a quarter of the amount it would spend if it used Nord Stream, while booking capacity for 70bn m³/yr would still cost it only a third as much.

Gazprom's accumulated after-tax dividends will total USD 6.9 billion by 2045. Over the next 25 years, gas deliveries via Nord Stream 2 would be 2–2.7 times more economically efficient than the ones via Ukraine's GTS, which translates into USD 45–78 billion.

What determines dependence on Russian gas is what buyers buy, and the market decides that. Gas follows the price.