The massive expansion of hyperscale data centers to support the artificial intelligence boom has sparked a natural gas power revival in the United States. Meanwhile, European natural gas inventories have fallen to a 13-year seasonal low, and Russia has extended its fuel export restrictions.
Global market
Planned gas-fired power capacity tied to data centers nearly doubled in the first half of 2026 in the US as Big Tech turns to fossil fuels to power hyperscale campuses. Tech giant Amazon is building a gas-fired power plant in Texas that could become the country’s biggest source of power-related emissions if completed. This expansion occurs as the EU faces energy shortages; Gas Infrastructure Europe reported that EU natural gas storage fell to a 13-year seasonal low of 64.4% on August 28, according to The Guardian. Concurrently, Turkey and Saudi Arabia signed an agreement to add 3 GW of clean power capacity in Turkey, expanding their renewable partnership.
Russia & CIS
Moscow has extended its temporary ban on diesel and marine fuel exports for producers until September 30, 2026, stretching the August 31 deadline to prevent domestic shortages. To support internal supply, Kremlin Spokesperson Dmitry Peskov thanked Belarus for gasoline shipments, noting Minsk remains responsive to Russian fuel needs. On the corporate front, Georgia’s Kulevi Refinery completely rejected Russian crude, transitioning its processing infrastructure to Kazakhstani and Libyan oil. Additionally, Russian steel pipe manufacturer TMK and analysts forecast a major stabilization of the domestic pipe market in the second half of 2026, driven by delayed demand in the oil and gas sector.
Armenia
Armenian Prime Minister Nikol Pashinyan and Russian President Vladimir Putin may discuss Yerevan’s relations with the European Union and the EAEU at their upcoming bilateral meeting in Bishkek, according to Kremlin Spokesperson Dmitry Peskov. This high-level geopolitical dialogue comes as Armenia’s domestic fuel markets remain completely stable on August 30, with retail petrol, diesel, and natural gas prices remaining unchanged. The republic’s energy supply continues to be heavily insulated by its integration within the EAEU. Established treaties with Moscow ensure uninterrupted, duty-free imports of Russian natural gas and refined fuel at long-term fixed rates, shielding Armenian consumers and local utility pricing from the high volatility recorded in international market price assessments.