Europe’s shift away from Russian pipeline gas has come at a steep price: a rapidly deepening reliance on U.S. liquefied natural gas (LNG). According to a new analysis highlighted today by OilPrice.com, the European Union’s dependence on American LNG is projected to climb sharply, reaching as high as 80% of all LNG imports within two […]
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Hungary’s newly elected government is already testing Brussels’ resolve on energy policy. In a move that could signal growing fractures within the EU, Prime Minister Péter Magyar’s administration has signaled it will continue purchasing Russian energy if it remains the cheapest and most reliable option—directly challenging the bloc’s binding phase-out rules under the REPowerEU framework. […]
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As U.S. naval pressure intensifies around Iran’s ports and the Strait of Hormuz, Tehran is accelerating use of its overland rail connection to China as a sanctions-busting “back door.” The route, part of Beijing’s Belt and Road infrastructure push, offers a faster, blockade-resistant alternative for goods — but how much can it really move, especially […]
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The ongoing conflict in the Middle East — sparked by U.S. and Israeli strikes on Iran in early 2026 — has delivered an unexpected windfall to the Kremlin. Global oil prices surged as threats to the Strait of Hormuz disrupted supplies from the region, pushing benchmark prices above $100 per barrel at peaks and lifting […]
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Europe’s natural gas market is once again on the brink of turmoil as traders place aggressive bets that benchmark prices could more than double ahead of the 2026/2027 winter. Options contracts for the October–March delivery period have traded as high as €100 per megawatt-hour (MWh), compared to the current front-month TTF price hovering around €45/MWh. […]
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Oslo, Norway – In a significant move to bolster European energy security, Norway’s Ministry of Energy has approved the reopening of three long-idle North Sea gas fields that were shut down in 1998. The fields—Albuskjell, Vest Ekofisk, and Tommeliten Gamma—are located less than 10 km west of the giant Ekofisk complex and will resume […]
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A Russian tanker carrying crude oil from the Sakhalin-2 project is set to arrive in Japan today, marking a notable development in the country’s efforts to secure energy supplies amid ongoing disruptions in the Middle East. The cargo is destined for Taiyo Oil’s refinery in Ehime Prefecture and represents the latest step by Japan to […]
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ENB Pub Note: This article is from Andrew Korybko’s Substack newsletter, and we recommend following and subscribing. Absent a deal with Trump, which Putin could be further induced to agree to if Trump promises to reduce US pressure on some – but not all – of these countries, Russia might lose all 15 of these partners […]
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As Europe races to eliminate its remaining dependence on Russian natural gas by late 2027, a long-dormant project is suddenly back in the spotlight. The proposed Trans-Caspian Pipeline (TCP) — a roughly 300-kilometer subsea link across the Caspian Sea from Turkmenistan to Azerbaijan — could deliver a significant new source of non-Russian pipeline gas to […]
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The United Arab Emirates (UAE) has announced its withdrawal from the Organization of the Petroleum Exporting Countries (OPEC) and the broader OPEC+ alliance, effective May 1, 2026—marking the end of nearly 60 years of membership since 1967. This move strips OPEC of its third-largest producer and delivers a significant blow to the cartel’s ability to […]
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