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Russia Targets Major Surge in Natural Gas Exports by 2050

OilPrice

Russia expects its natural gas exports, including via pipeline and LNG, to jump twofold by 2030 and threefold to 2050 under its new long-term energy strategy approved by the government on Monday. 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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European Commission Proposes Law Ending Russian Gas, Oil Imports by 2027

Rigzone

Image by Cylonphoto via iStock The European Commission has proposed legislation to stop the importation of natural gas, oil and oil products from Russia into the European Union by 2027, betting on global liquefied natural gas (LNG) and increased regional infrastructure interconnectivity.

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China’s ENN Energy valued at $11.6 billion in privatization offer

Oil & Gas 360º

(Oil Price) –Chinese gas and clean energy distribution firm ENN Energy Holdings Limited has been valued at around US$11.6 ENN Natural Gas currently owns 34.28% in ENN Energy. ENN Natural Gas and ENN Energy are two of the four listed firms within the ENN Group conglomerate, which was founded by Wang Yusuo.

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Global energy demand rises as power consumption jumps

Oil & Gas 360º

(Oil Price) –Surging power demand in both developed and emerging economies accelerated global energy demand growth in 2024 to nearly twice the pace of recent years, the International Energy Agency (IEA) said on Monday. As a result of higher power consumption, natural gas saw the strongest increase in demand among fossil fuels in 2024.

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Factbox-EU’s plan to phase out Russian gas by end-2027

Oil & Gas 360º

(Investing) –BRUSSELS -The European Commission will next month propose legal measures to phase out the EUs imports of all Russian gas and liquefied natural gas by the end of 2027, it said on Tuesday. OIL Unlike with gas, the EU has imposed sanctions on most Russian oil imports, with exceptions for Slovakia and Hungary.

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Iran’s Gas Flow to Industry Climbs 6.89% in 18 Days

Egypt Oil & Gas

The National Iranian Gas Company (NIGC) announced that it delivered a total of 6.49 billion cubic meters (bcm) of natural gas to the industrial sector, including power plants, petrochemical units, steel producers, and cement factories, during the 18-day period from March 20 to April 7.

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Electricity Consumption Drives Growth in Energy Demand During 2024

Egypt Oil & Gas

As a result of higher power consumption, natural gas saw the strongest increase in demand among fossil fuels in 2024. Gas demand rose by 115 billion cubic meters (bcm), or 2.7%, compared with an average of around 75 bcm annually over the past decade, IEAs report showed.

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