Gas

Analysts see more likelihood of a shift in policy with regards to Gazprom'.s planned 38 Bcm year exports to China via the Power of Siberia pipeline.

Annual capacity of the gas pipeline will reach 33 billion cubic meters.

Top officials. including the prime minister and other cabinet members. would be involved in promoting particular projects to nations in the region.

Under the sanctions. Iran'.s oil output was slashed by nearly 40% as a handful of buyers shipped in about 1 million bpd of oil from the country under special waivers.

Iran prefers exporting liquefied natural gas (LNG) to distant markets including the EU. but no agreement has been reached so far for construction of the plants for the purpose.

The investment includes $5.8 billion for developing Farzad B and another $5 billion to build a facility to liquefy the gas and export it as liquefied natural gas (LNG).

Merkel says she sees no need for the EU to get involved. and her government has sought assurances from Moscow that it will keep pumping gas through Ukraine after its gas transit contract expires in 2019.

Taking a role in this emerging hotspot is exactly what Rosneft is looking for.

This regulation. as well as the decision regarding intergovernmental agreements (IGA".s). are two of the main building blocks of the Energy Union strategy.

The pipeline was to connect Russia and Germany via the Baltic sea by running parallel to the existing Nord Stream pipeline.