Russian natural gas exports to foreign markets dropped nearly 46% year/year in 2022, when they were impacted by a steep decline in deliveries to Europe, according to Gazprom PJSC. Exports, including those to China via the Power of Siberia Pipeline, dropped to 100.9 billion cubic meters (Bcm) last year, or about 3.6 Tcf. That’s compared…
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Russia Allows Natural Gas Buyers to Pay Debts in Foreign Currency – The Offtake
Russia will allow natural gas buyers to pay debts for delivered supplies in currencies other than the ruble after a decree from President Vladimir Putin.

Russia’s Plans for Natural Gas Hub in Turkey Facing Obstacles
Russia is turning to Turkey as a potential natural gas hub partner with a new sense of urgency to find new export outlets for volumes left stranded by damages to the Nord Stream pipelines in September. But any hub would likely face political, financial and supply issues that are compounded by the Kremlin’s war in…

Trafigura Lands $3B Loan to Supply Germany with Natural Gas, LNG
Global commodities trader Trafigura Group Pte. Ltd. has secured a $3 billion loan backed by the German government to help secure more natural gas for the country. Trafigura would supply the gas to Germany’s Securing Energy for Europe (Sefe), a former Gazprom PJSC unit that the country nationalized and recapitalized earlier this year. The first…

Russian LNG Exports Continue to Grow as Kremlin Targets Expansions
Russian LNG exports to Europe are on the rise despite the continent’s efforts to diversify natural gas supplies and impose a series of sanctions against the country for its war in Ukraine. Most of the liquefied natural gas exported from Russia to Europe has been sourced from PAO Novatek’s Yamal LNG facility in the country’s…

European Natural Gas Prices Drop to Three-Month Low Despite Russian Supply Threats
European natural gas prices continued declining Monday to the lowest point in three months on mild weather forecasts and reports of heightened storage, despite threats from Russia of a complete end to pipeline exports. After a brief mid-week jump last Wednesday (Oct. 12), natural gas linked to the Dutch Title Transfer Facility (TTF) benchmark continued…

OPEC-Plus Agrees to Slash Production in Attempt to Boost Prices, Bolster Russia
OPEC-plus members, including Saudi Arabia and Russia, agreed on Wednesday to cut crude production by 2 million b/d. It marked the coalition of oil-producing countries’ largest pullback on output since the early days of the pandemic in April 2020, a move that could both send prices back to $100/bbl and aid Russia’s escalating war in…

Russian Natural Gas Production, Exports Continue to Drop Off
Russia’s Gazprom PJSC again reported a slide in both natural gas production and exports as it has nearly cut off all deliveries to Europe in retaliation for sanctions against its war in Ukraine. The state-owned company, which holds the world’s largest gas reserves and is among the largest exporters, said year/year deliveries to countries outside…
Gazprom Curbs Natural Gas Deliveries to France – The Offtake
Gazprom PJSC has reduced gas deliveries to France due to a disagreement over contracts, Engie SA said Tuesday.

Russian LNG Projects Face Continued Uncertainty as Kremlin Consolidates Control
President Vladimir Putin’s latest decree to stop sales of Russian energy assets, leaves the status and progress of Russia’s liquefied natural gas (LNG) projects in disarray. The decree takes full control of the 9.6 mmt/y Sakhalin-2 project in Russia’s far east. Shell plc has already said it plans to divest its 27.5% stake in the…