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.

Shipping 110bn m³/yr would cost Gazprom a quarter of the amount it would spend if it used Nord Stream, while booking capacity for 70bn m³/yr would still cost it only a third as much.

Стоимость добычи нефти в России – $2 за баррель. Увеличить добычу нефти в 2015 г. удалось благодаря новым проектам, которые были запущены с поддержкой государства. В России уникальная ресурсная база, отметил Сечин. Это позволит удержать добычу стабильной до 2035 г.

Gazprom's accumulated after-tax dividends will total USD 6.9 billion by 2045. Over the next 25 years, gas deliveries via Nord Stream 2 would be 2–2.7 times more economically efficient than the ones via Ukraine's GTS, which translates into USD 45–78 billion.

What determines dependence on Russian gas is what buyers buy, and the market decides that. Gas follows the price.

For us it is a principal issue. Gazprom has launched a programme to optimise expenses in the central corridor which now has free capacities which also cost us money. We will hence liquidate 4,300 km of pipes and close 62 compressor stations.

Russia’s oil industry is “very resilient,” BP Plc CEO Bob Dudley said in St. Petersburg on Thursday. The nation’s resources are competitively priced and floating the currency has been helpful for costs, he said while announcing a new exploration joint-venture with Rosneft.