Russia & CIS

CERAWeek: No Short-Term Solution for European Gas Crisis, Says Tellurian CEO

Europeans are very lucky that it was a warm winter, panelists said at a CERAWeek session on Wednesday, referring to an ongoing natural gas crisis that start long before Russia invaded Ukraine.

Russian Piped Gas Deliveries to Europe Remain Stable

The Yamal-Europe pipeline usually accounts for about 15% of Russia's supply of gas to Europe and Turkey but from December 21 until recently had been operating in reverse, which helped drive up European gas prices.

Shell Faces $400 Million Writedown on Russian Downstream Assets

In February, the oil major quit its ventures in Russia with Gazprom and related entities including the flagship Sakhalin 2 LNG plant and the Nord Stream 2 pipeline project.

US Push to Export LNG Amid Ukraine Crisis Slowed by Climate Concerns

White House efforts to boost U.S. LNG exports and cut Europe's reliance on Russian gas after the invasion of Ukraine are proceeding slowly, because of concerns about the impact on climate change.

Gas Security a Growing Worry Due to Russia's Export Dominance

Energy industry leaders said the burgeoning energy crisis is more dire for Europe's natural gas market than its crude oil imports, due to the continent's dependency on Russia.

Eni Suspends the Purchase of Oil from Russia

Italian energy group Eni has suspended the purchase of oil from Russia following its invasion of Ukraine and is watching developments closely with regards to gas procurement.

Russian Gas Continues to Flow into Europe on Main Pipeline Routes

Russian gas delivered through pipelines continued to flow via Poland westward into Germany while flows into Slovakia via Ukraine remained at recent high levels.

Remorseful Shell Abandons Russian Oil

Shell stopped buying Russian crude and said it would phase out its involvement in all Russian hydrocarbons from oil to natural gas over Ukraine, becoming one of the first major Western oil companies to abandon Russia entirely.

Enel Ready to Resume LNG Plan as Italy Steps Up Gas Hunt

Italy's biggest utility Enel is ready to dust off plans to build an LNG terminal in southern Italy as Rome steps up its efforts to find alternative supplies to replace Russian gas.

Europe's Plan to Wean Itself Off Russian Gas

The European Union laid out plans to cut its reliance on Russian gas by two-thirds this year and end it "well before 2030", in a bid to wrest countries free from depending on Moscow for energy.

Biden Bans Russia Oil Imports to US, Warns Gasoline Prices Will Rise Further

U.S. President Joe Biden has banned Russian oil and other energy imports in retaliation for the invasion of Ukraine, underscoring strong bipartisan support for a move that he acknowledged would drive up U.S. energy prices.

Germany's Uniper to Record Full Impairment Loss on Nord Stream 2 Loan

Berlin has halted the Nord Stream 2 Baltic Sea pipeline project, which would have doubled Russian gas flows to Germany, following Russia's invasion of Ukraine, which Moscow calls a "special operation".

Hess CEO: Petroleum Reserve Releases Should Double, Quadruple to Aid Markets

Energy consuming nations should release more crude oil from their strategic reserves to bring down the skyrocketing price of petroleum products, the CEO John Hess said.

United Steelworkers Union Calls on Oil Companies to End Russian Crude Imports

United Steelworkers International President Tom Conway said the union called on their government and employers to cut off all Russian imports of crude oil that would be processed in our domestic refineries.

US Prepared to Move Alone in Banning Russian Oil Imports

The Biden administration is willing to move ahead with a ban on Russian oil imports into the United States without the participation of allies in Europe, after Russia's invasion of Ukraine.

Gas Pipeline in Eastern Ukraine Damaged by Russian Fighting, Local Governor Says

Ukrainian engineers scrambled to repair a gas pipeline damaged by Russian forces, halting supplies to parts of southeastern Ukraine, the Donetsk region governor Pavlo Kyrylenko said.

Japan to Release 7.5 MMbbl of Oil Reserves in IEA-led Global Action

The volume makes up 12.5% of a planned coordinated release of 60 MMbbl of oil reserves that the U.S. and other members of the IEA agreed to compensate for supply disruptions following Russia's invasion of Ukraine.

Nord Stream 1 Says Gas Supplies to Europe Via Pipeline Continue

The operator of the operational Nord Stream 1 undersea gas pipeline from Russia to Germany said that transportation of natural gas to Europe was continuing normally.

Europe Must Urgently Cut Dependence on Russian Gas, Portugal Says

Europe must urgently diversify its natural gas supply sources to reduce its dependence on Russia, Portugal's energy secretary of state said, pointing to alternatives such as the U.S. and Qatar.

German Chancellor: It was the Right Time to Halt Nord Stream 2

The halt of the Nord Stream 2 gas pipeline, which was supposed to bring additional gas from Russia to Germany, came at exactly the right time, German Chancellor Olaf Scholz said.

US Natgas Futures Ease with Drop in Global Oil, Gas Prices

The U.S. market continued its three-day streak of following sharp moves in European gas and global oil prices with the Russia-Ukraine conflict stoking energy supply concerns.

Russian Gas Flows Via Yamal Pipeline to Germany Halt, Bids Remain

Russian gas accounts for some 40% of European gas demand, while the Yamal-Europe pipeline usually accounts for about 15% of Russia's westbound supply of gas to Europe and Turkey.

Wintershall Dea Stops Payments to Russia, Writes Off $1.1 Billion Nord Stream 2 Loan

Wintershall Dea will stop payments to Russia and write off its 1 billion euro ($1.1 billion) financing in the Nord Stream 2 gas pipeline, which was suspended last week.

Sanctions on Russian Energy 'On the Table' - But Not Just Yet, US Says

The United States is open to imposing sanctions on Russia's oil and gas industry but going after its exports now could help Moscow, the White House said.

Exxon to Exit Russia, Leaving $4 Billion in Assets

The decision will see Exxon pull out of managing large oil and gas production facilities in Russia's Far East and puts the fate of a proposed multibillion-dollar LNG facility there in doubt.

Nord Stream 2 AG Says Its Mobile, Fixed Network Lines Not Reachable, Shuts Website

The operator of the Russian Nord Stream 2 gas pipeline said its mobile and fixed network lines were not reachable for the time being and it had shut down its website amid hacking attacks.

Italy's Eni to Sell Stake in Blue Stream Pipeline Co-owned with Gazprom

Italian energy group Eni said it planned to sell its stake in the Blue Stream pipeline carrying Russian gas to Turkey that it co-owns with Russia's Gazprom.

Nord Stream 2 Owner Considers Insolvency After Pipeline Halt, Sanctions

The Swiss-based company is considering filing for insolvency as it attempts to settle claims ahead of a U.S. sanction deadline for other entities to stop dealings with it.

Ukraine’s Oil and Gas Industry Supplies Only a Small Part of the Country’s Needs

Two major pipeline systems carry Russian gas through Ukraine to Western Europe. The Bratstvo pipeline crosses from Ukraine to Slovakia and the Soyuz pipeline links Russia’s pipelines to natural gas networks in central Asia.

Shell to End Involvement with Nord Stream 2 Following Ukraine Invasion

Shell will also end its relationship with the flagship Sakhalin 2 LNG plant in which it holds a 27.5% stake, and which is 50% owned and operated by Russian gas giant Gazprom.