Currently Greece imports gas from Gazprom at a price of between $4.6 and 4.7 /mn Btu, Kitsakos said; from Turkey's Botas at $5.9/mn Btu; and from Algeria's Sonatrach at $6.5/mn Btu. Gas at the Dutch TTF is around $6/mn Btu. However, the price Cheniere will ask for gas is rumoured to be around $7/mn Btu.

During the next eight days, independent U.S. oil explorers are expected to report 2015 losses totaling almost $14 billion, the result of the steepest price collapse in a generation.

The upstream, oil field services, midstream, and downstream businesses during the year collectively saw just 379 M&A deals take place, down from the 709 that occurred in 2014, and 409 and 389 that respectively took place in 2008 and 2009 amid the Great Recession. Total value in 2015 was $286.23 billion, down from $353.97 billion in 2014.

European stocks deepened a monthly rout as disappointing earnings reports reignited investor concern about global growth prospects and oil prices resumed their downward trend.

British wholesale gas prices have fallen over 40 percent in the past year, as mild winter temperatures softened demand amid a sell-off in crude oil markets to which seasonal gas contracts are indirectly linked, and pressure has been mounting on power companies to lower retail prices for households.

With China's economy growing at its slowest pace in a generation and Asia's trading powerhouses Japan and South Korea struggling to create growth, Asian fuel oil demand for container ships should stagnate in 2016, putting more pressure on a market that struggled last year.

"The simple fact is that the accepted oil narrative has become uniformly negative," he said. "Prices will eventually have to move to a level that creates supply rather than destroys it.... We believe that price to be well above current levels."

Last month, David Rubenstein, a founder of private-equity firm Carlyle Group, said he anticipates “maybe the greatest energy investing opportunities we’ve ever seen.” Marc Lasry, founder of hedge fund Avenue Capital, has described energy as a “once-in-a-lifetime opportunity.”

Участники совещания обсудили возможность координации действий со странами ОПЕК в связи с неблагоприятной ценовой конъюнктурой на мировом нефтяном рынке.

The average natural gas spot price at the benchmark Henry Hub for December 2015 of $1.93 per million British thermal units (MMBtu) was the lowest monthly average since March 1999. EIA expects natural gas prices to rise, averaging $2.65/MMBtu in 2016 and $3.22/MMBtu in 2017. Expected price increases reflect consumption growth, mainly from the industrial sector, that outpaces near-term production growth.

From 2014 to 2040, we see global demand for energy rising by 25 percent. This increase is equivalent to the total energy used in North America and Latin America today.

"Demand will grow, as it has already started in 2015, and there will be a period not far into the future (when) demand will catch up with supply,"

"The practice of filling the market with cheap oil at any cost is wrong -- half a year or a year later it could be sold at twice as high," Leonid Fedun, vice-president of Lukoil, Russia's second largest oil producer, was quoted as saying.

The economy will shrink 1.5 percent this year, Alfa Bank’s Natalia Orlova said in a report on Monday, cutting her previous forecast for an expansion of 0.3 percent.

The Canadian Association of Petroleum Producers, which represents the industry, forecast that it would invest C$42bn (US$29.5bn) this year, 13 per cent less than last year and 48 per cent less than in 2014. That is a steeper decline than investment in oil and gas production worldwide, which is expected to drop by 40 per cent over 2014-16, according to Wood Mackenzie, the energy research company.