Lukoil Builds First Stage of GPP in Uzbekistan

KazMunayGas (KMG) plans to acquire Lukoil's refinery in Bulgaria, according to Bloomberg, citing two sources familiar with the negotiations. KMG is discussing financing for the potential acquisition with Vitol Group, the largest independent oil trader and a significant player in Kazakhstan.

Qatar’s Prime Minister’s advisor and official spokesperson for the Ministry of Foreign Affairs, Majid bin Mohammed al-Ansari, dismissed reports about potential gas supplies to Europe via Syria and Türkiye as rumors.

Despite the cessation of transit through Ukraine, the EU continues to purchase record volumes of Russian gas, but now in the form of LNG. According to Bloomberg, the volumes of LNG sold have already exceeded those that Moscow was transporting through Ukraine until January 1 (in recent years, the average volume was 35-40 mcm of gas per day).

The average exchange price for gas in Europe increased by 20.4% in December 2024 compared to the same period last year. According to data from the London ICE exchange, the price of gas futures in December averaged $489 per thousand cubic meters. This was 20.4% higher than in December of the previous year, when the price was nearly $407. Prices in the last month of the year remained at the November level of $491.2 per thousand cubic meters, which became the highest of the year.