Novatek estimates the shortage of liquefied natural gas (LNG) worldwide at 60-70 mln metric tons in coming years, CEO Leonid Mikhelson said at the Russian Energy Week.

The United States is benefiting handsomely from the anti-Russian sanctions in several spheres simultaneously, Deputy Secretary of Russia’s Security Council Alexander Venediktov told TASS on Thursday.

…So goodbye post- pandemic recovery, it was nice knowing you, however briefly….

EU countries are considering watering down the European Commission’s plan to ditch Russian fossil fuels, known as REPowerEU, including scrapping a proposed 45% renewable energy target for 2030.

The classification of molasses as a renewable, carbon-free feedstock for biofuel will severely hamper the production of yeast, a key element in preparing bread, beer, and wine, European yeast producers have warned.

The EU’s 27 energy ministers found consensus on various topics, including joint gas purchases, at an informal meeting in Prague on Wednesday (12 October).

The European Union is investing billions of euros in biorefineries that can develop products based on organic materials and help decrease the bloc’s reliance on oil and gas.

As war rages in Ukraine, and Europe thirsts for fuel, the liquified natural gas (LNG) industry along the U.S. Gulf Coast is preparing to expand — a distressing development to some nearby neighbors.

Gas production by Novatek in January-September 2022 increased by 2.9% to 60.8 bln cubic meters (bcm).

The American Petroleum Institute (API) reported a large build this week for crude oil of 7.054 million barrels.