Construction of the TurkStream gas pipeline was commenced in the Black Sea near the Russian coast.

Russian state oil firm Rosneft is struggling to close its $12.9 billion acquisition of India's Essar Oil Ltd because six of Essar's Indian creditors have yet to approve the deal, sources close to the talks said.

Net income attributable to Rosneft shareholders amounted to RUB 13 bln in 1Q 2017 (+8.3% vs adjusted net income in 1Q 2016) in view of significant negative effect of foreign exchange rates due to RUB appreciation.

One of the highest priorities in Russia's gas export and marketing strategy is establishing its own southern corridor for gas exports to Europe, in competition with the EU-backed project.

The world’s largest energy consumer increased imports from Russia by about 9.3 percent to 4.69 million metric tons in March from February, according to data released Tuesday by the General Administration of Customs. That’s also up 0.9 percent from a year earlier. Saudi Arabia, the biggest crude exporter, retreated to the third-biggest seller last month from No. 1 a month earlier as shipments fell 4.6 percent to 4.55 million tons.

Profit attributable to the owners of PJSC Gazprom for the year ended December 31, 2016 totaled RUB 951,637 million which is RUB 164,581 million, or 21 %, more than for the same period of the prior year.

Profit attributable to NOVATEK shareholders decreased by 38.7% to RR 71.0 billion (RR 23.54 per share), as compared to RR 115.9 billion (RR 38.40 per share) in the first quarter 2016. The amount of profit was significantly impacted by the foreign exchange effect (including at the joint ventures level), and its dynamics – by the effect of the disposals of interests in joint ventures. Net of these effects, our adjusted profit attributable to NOVATEK shareholders increased by 20.2% to RR 44.3 billion compared with the first quarter 2016.

Nord Stream 2 AG signed financing agreements for the Nord Stream 2 pipeline project with ENGIE, OMV, Shell, Uniper and Wintershall.

Exxon Mobil is seeking permission from the U.S. government for approval to resume drilling around the Black Sea with a Russian partner, state-owned Rosneft, according to a person familiar with the matter.

Ukraine's transit of Russian oil for exports to Europe in March rose 42% year on year to 1.25 million mt, state oil shipper UkrTransNafta said

One of the most important events in the energy field was held in Moscow. The name of the Global Energy Prize laureate was announced during the international press conference. In 2017 the prestigious award goes to Michael Graetzel (Switzerland) “for transcendent merits in development of low cost and efficient solar cells, known as “Graetzel cells”, aimed to creation of cost-efficient, large-scale engineering solutions for power generation”. He will receive a golden medal and RUB 39 million (approximately $ 693 000).

The world’s largest listed oil company by output has spent the past four months trumpeting agreements to buy oil from Egypt, Libya and Iraqi Kurdistan, drilling exploration wells in southern Iraq and considering opportunities in Lebanon, as it chases deals to fuel its fledgling international expansion.

"This is a big event," Putin said. "If we keep moving at this pace, which I must say is rather impressive even to me...then Russia not only can but will become the largest LNG producer in the world."

The project has significant public importance, as it will give an impetus to economic and social development in the Russian Arctic. The Yamal-Nenets Autonomous Area is home to some of Gazprom’s key fields, which are expected to provide the bulk of Russia’s natural gas in the long term. To ensure efficient field development, the transport infrastructure should be expanded accordingly.

Russian state gas exporter Gazprom, which supplies around a third of the EU's gas, with much coming via Ukraine, is keen for Nord Stream 2 to be built by 2019, when it must renegotiate gas transit fees with Kiev.