The International Monetary Fund has given a green light for Ukraine to receive the second tranche of financial assistance totalling $1.39 billion, meaning more austerity measures for the already struggling economy. “The Executive Board of the International Monetary Fund (IMF) today completed the first review of Ukraine’s performance under an economic program supported by a Stand-By Arrangem [...]

The road to the Minsk summit this past Tuesday began to be paved when German Chancellor Angela Merkel talked to ARD public TV after her brief visit to Kiev on Saturday. Merkel emphasized, “A solution must be found to the Ukraine crisis that does not hurt Russia.” She added that "There must be dialogue. There can only be a political solution. There won't be a military solution to this con [...]

Russian gas sector should not be subjected to EU sanctions despite the situation in Ukraine, EU Energy Commissioner Gunther Oettinger said Thursday. "Gas is not a suitable sector for sanctions, as in this case everyone will lose - Russia, Ukraine and the European Union," RIA Novosti cites Oettinger as saying. [...]

Europe will remain heavily reliant on Russian gas for at least until the 2020s and potentially much longer due to the lack of an alternative, according to a report from Fitch Ratings. The substitution of Russian gas is not expected, given the weak prospects for shale gas production, the lack of available imported liquefied natural gas (LNG) and the absence of significant pipeline projects in Eu [...]

All operations on Russia's Gazprom-led project South Stream have been suspended, as they do not meet the requirements of the European Commission, Bulgaria's Ministry of Economy and Energy said on its website. “Minister of Economy and Energy Vasil Shtonov has ordered Bulgaria’s Energy Holding to halt any actions in regards of the project,” the ministry said. This specifically means enterin [...]

The Bulgarian government is under enormous pressure from the US to cancel the South Stream project, and so Bulgaria is the place to watch now, Daniel McAdams, executive director of the Ron Paul Institute for Peace and Prosperity think tank, told RT. On August 8, Ukrainian Prime Minister Yatsenyuk announced that Kiev had prepared a list of 172 Russian citizens and 65 companies, predominantly Rus [...]

Ukraine ready to impose sanctions against any transit via its territory, including air flights and gas supplies to Europe, Prime Minister Arseniy Yatsenyuk said Friday. Ukraine’s parliament will vote on the final measure on Tuesday, and will take into consideration the country’s Security Service, Valeria Hontareva, president of Ukraine’s Central Bank, said. [...]

Russia and Austria have agreed on a joint company to construct the Austrian arm of the $45 billion South Stream gas pipeline project, which is expected to deliver 32 billion cubic meters of Russian gas to the country, bypassing Ukraine. [...]

Ukraine does not control its territory and is unable to guarantee not only the lives of its own citizens but also the economic safety of the pipeline operation, or the businesses on its territory, political scientist Mateusz Piskorsky told RT. Ukrainian authorities suggested the blast may have been caused by a terrorist attack. So can Ukraine be trusted as a transit country anymore? [...]

After failing to pay its gas bill, Ukraine now has to pay in advance for any natural gas from Russia, Gazprom said on Monday. Both companies have filed lawsuits against each other at the Stockholm Arbitration Court. “This decision was taken due to systematic failure of Naftogaz Ukraine to pay. [...]

Russia and Ukraine failed to resolve a gas pricing dispute during Sunday talks in Kiev. Gazprom says its demands have not changed and Kiev is expected to pay its debt of $1.95 billion by 06:00 GMT on Monday, otherwise the gas supply will be stopped. Gazprom’s position remained unchanged after EU-brokered negotiations finally ended around 2:30 a.m. Moscow time (10:30 p.m. GMT) on Monday [...]

Gazprom will not postpone Ukraine’s gas payment deadline set for Monday, CEO Aleksey Miller said. If Kiev fails to pay and therefore causes gas transit problems to Europe, Russia will pump more through the Nord Stream and Yamal-Europe pipelines. [...]

Testing of methane concentration in water of Parker County, Texas indicates a link between the dangerously high levels of natural gas in local water supply and hydraulic fracturing, or fracking, operations in the gas-rich Barnett Shale, scientists say. [...]

China could replace Germany as Russia's biggest gas consumer, if Moscow and Beijing agree to add a route from Russia'€™s Western Siberia to the one already agreed under a $400 billion contract, President Putin said at a meeting with media in St. Petersburg. [...]

After 10 years of negotiations, Russia's Gazprom and China's CNPC have finally signed a historic gas deal which will provide the world's fastest growing economy with the natural gas it needs to keep pace for the next 30 years. The total value of the contract is $400 billion, Gazprom CEO Aleksey Miller said. However, the price of gas stipulated in the document remains a "commercial secret." [...]

A specter is haunting Washington, an unnerving vision of a Sino-Russian alliance wedded to an expansive symbiosis of trade and commerce across much of the Eurasian land mass - at the expense of the United States. And no wonder Washington is anxious. That alliance is already a done deal in a variety of ways: [...]

US and EU diplomats have said they will help Ukraine cut back on Russian gas, and also promised to help diversify the Russian-dominated European energy market, a difficult long term task for energy-dependent EU countries. US Secretary of State John Kerry, EU foreign policy chief Catherine Ashton and other energy advisers met in Brussels on Wednesday for an energy summit. [...]

New research from the Global Sustainability Institute has found that Britain, France and many other European countries have low reserves of fossil fuels, and their home grown energy could be entirely reliant on imports in several years. The study found that the UK has just 5.2 years of oil, 4.5 years of coal and three years of gas before it completely runs out of fossil fuels, said the researchers [...]

Hunter Biden, son of US VP Joe Biden, is joining the board of directors of Burisma Holdings, Ukraine'€™s largest private gas producer. The group has prospects in eastern Ukraine where civil war is threatened following the coup in Kiev. [...]