Eustream said June 30 that it welcomed assurances from Gazprom at the meetings that the Slovak and the Czech gas transmission systems will be used in long term even if NS2 is built. Eustream said also it “highly appreciates the understanding between both parties that the entry point from Ukraine to Slovakia shall remain fully functional even if NS2 is commissioned.”

"Turkey needs to diversify its imported energy resources. Turkey's approach to Russia will bear fruit in early October. The feasibility of the Turk Stream natural gas pipeline project, which Putin proposed in late 2014, may begin later this year. If all things go smoothly, we may see the Russian molecules in early 2019 via a new pipeline,"

Russian oil and gas companies will maintain stable capital spending in the next few years, while the global industry cuts back, thanks in part to advantages provided by the country’s currency, according to Fitch Ratings.

The parties addressed further steps in the bilateral strategic partnership in the gas industry, particularly Russian gas exports to China. Among other issues discussed were prospects for cooperation in the field of underground gas storage and power generation in China.

The agreement provides for the entry of ChemChina into the FEPCO equity capital with a stake of 40% and for the proportional financing. The parties intend to conduct joint analysis aimed at the specification of niche markets for FEPCO products based on the capabilities of the partner that enjoys a robust position in the Asia-Pacific markets.

In 2015 Gazprom increased gas exports to the region by 8% compared with 159.4bn m³ in 2014. The latest official statistics also indicate that Gazprom's gas exports experienced significant growth in the first four months of 2016.

BP’s energy outlook this year foresees a compound annual growth rate of gas demand at 1.8% until 2035. In the OECD, this growth results from the coal-to-gas transition in power generation. The US major ExxonMobil supports this view, forecasting gas will account for 30% of the power sector and will equal coal by 2040.

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.

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.