US lawmakers warned fuel importers of criminal penalties over Russian diesel shipments, while Rystad Energy estimated that Middle East supply disruptions have added $39 billion to global LNG costs. Meanwhile, Moscow hosts the Gas Exporting Countries Forum summit as Asian and Caucasian energy markets adapt to regional security risks.
Global market
Global LNG importers will spend an additional $39 billion in 2026 despite purchasing 60.7 million tonnes less gas, according to Rystad Energy estimates triggered by Persian Gulf shipping disruptions. In the United Kingdom, Ithaca Energy warned it may halt investments if the government scraps the £8.7 billion ($11.6 billion) Rosebank oilfield, which holds a peak production capacity of 69,000 barrels per day. In China, the National Energy Administration directed state producers PetroChina and Sinopec to expand domestic drilling as Iranian crude supplies contract. Additionally, top executives at US startup Polar LNG resigned in September following allegations that Russian gas producer Novatek partially funded the Alaska project.
Russia & CIS
US Representative Jamie Raskin warned oil companies of $1 million fines and prison sentences for importing Russian diesel, challenging White House supply arrangements. Despite partial export resumptions, analysts noted that global diesel prices remain elevated due to high crude costs and seasonal refinery maintenance. In Moscow, Iranian President Masoud Pezeshkian and Algerian Prime Minister Sifi Ghrieb arrived for the Gas Exporting Countries Forum summit, where Iranian Ambassador to Russia Kazem Jalali called natural gas the axis of energy stability. Meanwhile, Brent crude dipped below $110 per barrel, while the US Federal Reserve tightened monetary policy in response to energy inflation.
Armenia
Armenia maintained positive industrial production growth within the EAEU, benefiting from regional energy integration and stable utility structures. The Gas Exporting Countries Forum summit in Moscow and regional pipeline networks reinforce the South Caucasus energy framework. Despite global LNG cost increases of $39 billion and fluctuations in international crude benchmarks, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Direct natural gas imports from Russia and electricity generation at the Armenian Nuclear Power Plant operate at full capacity under long-term EAEU contracts, shielding the domestic market from fluctuations recorded in international market price assessments.