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.

Ukraine to Wait for Gas Price Cut From Gazprom

Reuters reported yesterday that Ukraine turned down a proposal to cut gas prices by 20 percent. According to Reuters, the country wants changes to its 2009 take-or-pay contract with Russia's Gazprom that require it to pay $485 per tcm of natural gas.

Germany Planning to Tighten Shale Gas Extraction Rules

The Wall Street Journal reported today that Germany has plans to beef up environmental regulations surrounding drilling programs for shale gas. According to the Journal, the new rules would all but ban shale gas drilling in Germany, although an initiative by the state could simultaneously help production in more traditional natural gas fields.

Japanese Law Makers Looking for Gas From Russia

Bloomberg reported that a group of lawmakers in Japan is lobbying the government for a $5.9 billion natural gas pipeline from Russia to Japan following a major gas deal between China and the former Soviet nation. The efforts come as Japan attempts to find cheaper energy sources, according to Bloomberg. As quoted in the publication: [...]