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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Qatar’s stranglehold on the global LNG market began to loosen in 2014, with maintenance work driving a 2% drop in exports.
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