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In pipelines we trust
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
High hopes and dry wells in the Black Sea
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
Drone power: Ukraine escalates its war on Russian oil
Sustained strikes on ports, terminals and refineries are testing the resilience of Russia’s oil export system, yet rapid repairs, rerouting and surging prices mean the campaign has yet to deliver a decisive blow
Europe’s LNG buildout slows
The EU is still weaning itself off Russian gas, but the expansion of its import infrastructure has slowed while Russia and Kazakhstan push ahead with expanding production
Letter from Europe: Energy transition meets reality
The continent is seeing political pushback to climate plans, corporate reassessment of transition goals and rising supply risk in a fractured global order
How Russia gains from the Hormuz supply shock
The US may be systemically stripping Russia of key geopolitical allies, but Moscow can reap rewards from the Hormuz crisis, both in the short and long term
European gas: From bad to much worse
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
Letter from Asia: The nuanced India-Russia oil picture
The South Asian consumer’s next move could tighten the Middle East oil market overnight
Arctic LNG 2 adds Arc7 to its shadow fleet
Having found a steady buyer in China for its sanctioned gas, the Russian project is positioned for nearly year-round operations, yet its 11-vessel ‘shadow fleet’ is still insufficient to achieve anywhere near capacity utilisation.
Explainer: What do Russia’s oil giants own overseas?
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
Bulgaria’s parliament
Opinion
Bulgaria Russia Europe Energy security
Victor Kotsev
Sofia
5 April 2022
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Letter from Eastern Europe: Bulgaria attempts Russian pivot

On the front line of potential weaponisation of Russian energy, the poorest and arguably most corrupt EU member state is heavily dependent but not without diversification options

EU and Nato member Bulgaria faces a challenge as Europe attempts to wean itself off Russian gas while also facing the potential risk of the Putin regime cutting off supply to those opposing its Ukrainian adventurism. The country imports about 90pc of its gas and most of its other energy resources from Russia, yet it can, in fact, diversify relatively easily. Bulgaria’s energy problems are to some extent self-inflicted—as the recently elected pro-Western government is quick to point out. Solutions will involve not just connecting to nearby pipelines and securing the right contracts, but also rooting out institutional dysfunction and healing political rifts. In response to steep financial sanc

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