An employee at an oil and gas field in Irkutsk, Russia. Reuters
The $21 billion Arctic liquefied natural gas (LNG)-2 project led by Russian private gas producer Novatek won a green light on Thursday, the latest in a raft of new projects aimed at meeting a likely doubling of LNG demand over the next 15 years.
OMV agreed on Friday to pay 905 million euros ($1 billion) to Russia’s Gazprom for a stake in a Siberian gas field, as part of the Austrian firm’s strategy to boost its gas business.
China’s Sinopec, expected to be the next major Chinese buyer of US liquefied natural gas (LNG), is planning to review terms of a potential $16 billion supply deal with Cheniere Energy after a sharp drop in LNG prices.
European Union member states, the Group of Seven industrialized countries and Australia said on Friday that they have reached an agreement on price caps for Russian petroleum products.
Dubai Customs (DC), in partnership with the Dubai Digital Authority, has unveiled the Early Cargo Targeting System to enhance security measures and combat illegal trade.
Sri Lanka is completing the pre-requisites to unlock a $2.9 billion bailout from the International Monetary Fund (IMF) and expects rapid approval from the global lender, President Ranil Wickremesinghe said on Saturday.