The TANAP is the central part of the Southern Gas Corridor, which connects the Shah Deniz gas field in Azerbaijan to Europe through the South Caucasus Pipeline (in Azerbaijan and Georgia) and Trans Adriatic Pipeline (TAP, from Greece to Albania and Italy).

Nigeria, Niger and Algeria have approved a roadmap to develop the 30 bcm/year Trans-Saharan Gas Pipeline (TSGP) between Warri in Nigeria to Hassi R’Mel in Algeria, passing through Niger.

U.S. commercial crude oil inventories increased by 4.5 million barrels from the previous week to 416.0 million barrels.

Halting the certification process means the 55 Bcm/year pipeline -- which was completed in September -- will be unable to begin commercial operations.

In 2021, a large share of Europe’s supply of liquefied natural gas (LNG) originated in the United States, Qatar, and Russia.

"What we've seen over the last six months is that Gazprom has delivered always at the lowest level," she told the Munich Security Conference.

"In the current scenario, [the] demand for oil has outpaced production growth as economies slowly rebound from the worst of the pandemic, leaving the market with a small buffer to mitigate an oil supply shock," Singh said.

"With regards to gas, Russia is respecting its contractual obligations and is ready to provide additional quantities if they are required,"

The Company's gas exports to the countries beyond the FSU amounted to 17.9 billion cubic meters, which is 35.5 per cent (or 9.8 billion cubic meters) lower than the figure for the same period of 2021.

U.S. commercial crude oil inventories increased by 1.1 million barrels from the previous week to 411.5 million barrels.

The $11-billion pipeline, which has faced stiff opposition from the United States and some European states, was built last September across the Baltic Sea from Russia to Germany, but has been idle pending German and EU regulatory clearance.

Austrian oil company OMV is one of Russian gas giant Gazprom's partners in the pipeline project connecting Russia to Germany, which has been completed but is not yet operational as it is awaiting German and EU regulatory approval.

Russia returned as the top supplier to China's independent refineries in January -- overtaking Malaysia -- with arrivals amounting to 2.77 million mt, up 45.7% from the previous month.

In 2022, oil demand growth is expected at 4.2 mb/d unchanged from last month, with OECD and non-OECD projected to grow by 1.8 mb/d and 2.3 mb/d, respectively.

Stocks were now at 35%-36%, under the "critical level" of 40%, which the German government deems is necessary to withstand seven straight days of an extreme cold snap.