Tepid production and strong global LNG export demand have helped to push NYMEX gas futures prices for the coming months beyond $5/MMBtu.

Non-OECD countries in Asia will collectively become the largest importers of natural gas by 2050.

China's pipeline gas imports have been setting new records in the past three months, and September was the fourth consecutive month-on-month increase since June, the customs data showed.

In 2018, China became the world's 2nd largest LNG importer in the world behind Japan. LNG imports amounted to 90.5 bcm in 2020 (+12%). Australia is the largest LNG supplier (44%), followed by Qatar (12%) and Malaysia (9%).

Preliminary production figures for September 2021 show an average daily production of 2 022 000 barrels of oil, NGL and condensate.

Gazprom’s gas supplies to Turkey soared by 125.3% year-on-year between Jan. 1-Oct. 15, the data showed, while exports to Germany and Italy were up 28.2% and 16.3.% from a year ago, respectively.

Several factors are fuelling this price surge in energy commodities – primary among them is energy demand having rebounded as economies get back to business and consumers return to pre-pandemic levels of economic activity.

Temperatures have dropped sharply in many parts of northeast and northwest China, state media said. In Heilongjiang, all heating systems have been opened, and heating companies in Harbin city began supplying heat 4 days earlier than normal, Yulin in Shaanxi province is 10 days ahead of schedule, and Datong in Shanxi province started 13 days earlier than previous years.

Russia has repeatedly said that the early launch of Nord Stream 2 would help ease the current high gas prices in Europe, which have soared in recent weeks on intensifying concerns over winter gas supply amid lower-than-expected Russian deliveries.

Speaking at Russian Energy Week, Novak also said the Nord Stream 2 pipeline would be ready to begin commercial operations "in the coming days" but that its startup still depended on winning approval from European regulators.

We expect Brent prices will remain near current levels for the remainder of 2021, averaging $81/b during the fourth quarter of 2021. In 2022, we expect that growth in production from OPEC+, U.S. tight oil, and other non-OPEC countries will outpace slowing growth in global oil consumption and contribute to Brent prices declining from current levels to an annual average of $72/b.

This scenario also sees an accelerating pace of change in the power sector, sufficient to realise a gradual decline in the sector’s emissions even as global electricity demand nearly doubles to 2050.

Market participants said that while Chinese demand is lifting coal prices, the downside risk is limited given suppressed demand from India -- the world's third-largest coal consumer.

Natural gas and coal prices in Europe and Asia just hit their highest levels on record, oil prices in America hit a seven-year high and U.S. gasoline prices are up $1 a gallon from last year.

In a statement after the meeting, Ukrainian President Volodymyr Zelenskyy, EU Council President Charles Michel and European Commission President Ursula von der Leyen reaffirmed their “continued commitment to strengthening the political association and economic integration of Ukraine with the European Union.”