United States liquefied natural gas exports to Europe surged to 6.89 million tons last month as European buyers scrambled to secure winter supplies. Concurrently, Marathon Petroleum neared a $4 billion refining asset sale, while Kazakhstan resumed oil transit to Russia following drone-related disruptions.
Global market
United States liquefied natural gas exports to Europe rose by 1 million tons to 6.89 million tons last month, driving total American LNG shipments toward historical highs as winter demand mounted. In corporate deals, Marathon Petroleum neared a $4 billion agreement to sell several refineries to CVR Energy, benefiting from record refining margins created by global fuel supply constraints. Meanwhile, the International Energy Agency projected a 1.5% decline in global gas demand due to Middle East conflict disruptions, even as European natural gas prices rose 2.5%. Additionally, ADNOC Gas secured an LNG supply contract with France’s TotalEnergies, while Romania’s State Secretary of Energy Marius Posa declared the country fully independent from Russian gas.
Russia & CIS
Kazakhstan resumed crude oil transit via the Atyrau-Samara pipeline, official spokesperson for Kazakhstan’s Energy Ministry Asel Serikpayeva confirmed, after operations were temporarily halted by drone attacks. In Russia, the Federal Anti-Monopoly Service facilitated 146 fuel price stabilization agreements across 52 regions to manage winter diesel transitions. Concurrently, Yaroslavl Region Governor Mikhail Yevrayev reported two refinery employees injured after air defenses intercepted 124 drones near a local refinery. Russian gas exports to China via the Power of Siberia pipeline increased, according to the IEA, while Russian forces struck energy facilities across three Ukrainian regions.
Armenia
Russia introduced a cash export restriction prohibiting individuals from taking over 1 million rubles in cash to EAEU member states, affecting cross-border financial flows within the union. Meanwhile, drone attacks on the Yaroslavl refinery and the resumption of Kazakh crude transit through the Atyrau-Samara pipeline underline security dynamics along EAEU supply corridors. Despite Brent crude prices rising to $105.26 per barrel and European gas prices climbing 2.5%, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Direct gas imports from Russia and generation at the Armenian Nuclear Power Plant continue uninterrupted under long-term EAEU contracts, protecting the market from shocks reflected in international market price assessments.