The well-known castle Swallow's Nest near Yalta
Petrel views Crimean gas-export opportunity
Gazprom has received a plan to develop energy projects in the disputed region of Crimea
London-listed exploration company Petrel Resources, has submitted a proposal to Russian state gas monopoly Gazprom to develop a liquefied natural gas export facility on the Crimean Peninsula. The plan, presented by Petrel's managing director David Horgan, was submitted to Gazprom executives at a meeting in the Crimean city of Yalta in April. He suggested establishing an LNG export terminal fed primarily by a gas pipeline from existing discoveries in western Siberia and central Asia. To these would then be added supply from potential gas discoveries in the Sea of Azov, off the Crimea, where the majors had high hopes of finding hydrocarbons before Russia occupied the region. "Crimea has been p
Also in this section
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
3 March 2026
The killing of Iran’s Supreme Leader Ayatollah Khamenei in US–Israeli strikes marks the most serious escalation in the region in decades and a bigger potential threat to the oil market than the start of the Russia-Ukraine crisis
