Gas Market News Directory

Iran Holds Largest Proven Natural Gas Reserves Globally

According to BP's (NYSE:BP) Statistical Review of World Energy released this week, Iran holds the world's largest natural gas reserves, Asharq Al-Awsat reported. The country has 33.8 trillion cubic metres of gas, making up 18.2 percent of the world's proven reserves.

Russia Cuts Off Gas to Ukraine

The Wall Street Journal reported yesterday that Russia has made good on its promise to halt gas supplies to Ukraine following Kiev's failure to make gas payments by the deadline at the start of this month.