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Arbitration with Gazprom: how to collect
A number of companies have filed arbitration claims against Gazprom over non-deliveries of contracted gas or other matters—and won. The next step is to collect the award; this is no easy task but it can be done thanks to an international legal framework under the New York Convention.
Power of Siberia 2: deal or no deal?
There is a good strategic case for China to sign a deal for gas supplies via the proposed Power of Siberia 2 pipeline, but Beijing’s concerns over over-dependency on a single supplier and desire to drive down the price make it relatively unlikely that a contract will be finalised this year.
China creates two-tier oil dynamic
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
Trump’s Russia threat rings hollow
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
Letter from Austria: OPEC delivers wake-up call
A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs
OPEC+’s extra barrels mostly made of paper
Robust demand and a limited supply of additional physical barrels from key OPEC+ producers has kept the oil market in a healthy price range
Waiting for Arctic LNG 2
Without sanctions relief, there is little reason to believe the latest potential attempt at exports from the Russian liquefaction project will be more successful than the one last summer
Gas pricing finds a new norm
Gas-on-gas competition pricing has grown its share of consumption significantly over the past two decades, primarily at the expense of oil-price-escalation pricing, according to the IGU
Oil demand ramps up air miles
Jet fuel will play crucial role in oil consumption growth even with efficiency gains and environmental curbs, with geopolitical risks highlighting importance of plentiful stocks
Letter from the Middle East: Iran-Israel war risks dire straits
A blockade of the Strait of Hormuz would have reverberations that would sound around the world
Product demand is also expected to increase in 2023
Markets Russia
Simon Ferrie
24 March 2023
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Russia finds the ships to access new product markets

Refining runs and questions over blending—not vessel availability—are likely to determine Russian product export volumes

The EU’s ban on imports of Russian products came into force on 5 February, prompting the latest phase in the global reshuffling of hydrocarbon trade since the invasion of Ukraine. Some in the market have questioned whether there would be enough tankers willing and able to transport Russian products, but so far access to ships does not seem to be a constraint on the pariah state’s exports. The shift since the start of the product import ban has been “stark”, says shipbrokers EA Gibson, with Russia “relatively successful" in finding new markets for more than 1mn bl/d of clean products. And this Russian trade is profitable for shipowners, says Ioannis Papadimitriou, senior freight analyst at an

Also in this section
Arbitration with Gazprom: how to collect
1 August 2025
A number of companies have filed arbitration claims against Gazprom over non-deliveries of contracted gas or other matters—and won. The next step is to collect the award; this is no easy task but it can be done thanks to an international legal framework under the New York Convention.
Difficult times for Germany’s downstream
1 August 2025
Europe’s refining sector is desperately trying to adapt to a shifting global energy landscape and nowhere is this more apparent than in its largest economy
Middle East gas can power regional prosperity
1 August 2025
The Middle East natural gas playbook is being rewritten. The fuel source offers the region a pathway to a cleaner, sustainable and affordable means of local power, to fasttrack economic development and as a lucrative opportunity to better monetise its energy resources.
TotalEnergies sticks to winning formula
31 July 2025
TotalEnergies is an outlier among other majors for remaining committed to low-carbon investments while continuing to replenish and expand its ample oil and gas portfolio, with an appetite for high risk/high return projects.

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