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China Launches Phase 2 Deep-Sea Gas Field Adding 4.5BCM To Supply

OilPrice

billion cubic meters (bcm) per year. With total geological reserves exceeding 150 bcm, Deep-Sea No. China National Offshore Oil Corporation (CNOOC) has fully launched the second phase of its Deep-Sea No. 1 natural gas project in the South China Sea, boosting domestic output by 4.5

BCM 260
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Russia Targets Major Surge in Natural Gas Exports by 2050

OilPrice

Russia sees its pipeline and LNG overseas deliveries surge from 146 billion cubic meters (bcm) in 2023 to 293 bcm in 2030, and further up to 438 bcm by 2050. Crude oil and condensate production is targeted to increase from 531 million metric tons per year, or 10.66 million bpd, by 2050.

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US Overtakes Russia as EU No2 Gas Source

Rigzone

Pipeline gas accounted for 55 percent or 38 Bcm while liquefied natural gas (LNG) contributed 45 percent or 31 Bcm, according to the Commission’s latest quarterly gas market report. Bcm, followed by Russia at 14 percent or 9.7 Bcm, followed by Qatar at five percent or 3.2 Bcm and Azerbaijan at four percent or 2.6

BCM 108
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Turkmenistan Forges New Gas Partnerships with Turkey and Beyond

OilPrice

billion cubic meters (bcm) of gas by the end of 2025, with annual supplies slated The centerpiece of Turkmenistans gas export diversification push is a swap arrangement with Iran and Turkey under which Ashgabat is expected to supply Ankara with 1.3 billion cubic meters (bcm) of gas by the end of 2025, with annual supplies slated

BCM 190
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European Commission Proposes Law Ending Russian Gas, Oil Imports by 2027

Rigzone

The EU imported a total of 70 Bcm in the October-December 2024 period. “As of 2025, the LNG global supply is set to grow significantly - and at increasingly fast pace - with 33 bcm of additional capacity in 2025, more than 50 bcm in 2026, nearly 70 bcm in 2027, and 50 bcm in 2028. billion cubic meters (473.22

Gas 75
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EU Commission Launches Matchmaking Platform for Energy, Materials Sourcing

Rigzone

A total of seven rounds have been conducted under AggregateEU, pooling over 119 Bcm of demand and attracting 191 Bcm of offers. Nearly 100 Bcm have been matched, according to the latest results announcement March 26, 2025. The Commission’s Directorate-General for Energy said more products may be covered in the future.

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Global energy demand rises as power consumption jumps

Oil & Gas 360º

Gas demand rose by 115 billion cubic meters (bcm), or by 2.7%, compared with an average increase of around 75 bcm annually over the past decade. Record-high temperatures, higher demand from industry and for electrification, and AI and data centers contributed to a 4.3% As a result, the worlds overall energy demand increased by 2.2%

BCM 130