Iran’s nuclear deal will allow IOCs to return, but while vast reserves and low global energy prices make the country attractive, it is yet to finalise its contractual framework for upstream developments.
Imports of Russian gas into Europe will rise. Even if transit via Ukraine comes to an end after 2019, new lines into Europe will support additional flows.
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Gas exports from the Netherlands fell by 25% year on year to 28.7 bcm in 2014, while 20% less gas was produced in the country.
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