Russia and Bahrain in advanced talks over LNG supply deal, sources say
Russia is in advanced talks with Bahrain over a three-year liquefied natural gas (LNG) agreement under which Moscow would supply the Gulf kingdom with 1.5 million metric tons of the fuel, according to three sources close to the matter.
The prospective deal would be the first of its kind between the countries and continues the expansion of Russia's reach in global energy markets and LNG competition with the United States.
Russia, the world's fourth-largest LNG producer behind the United States, Qatar and Australia, is striving to enter the top three global LNG exporters and plans to produce 100 million tons per annum (mtpa) of the super-chilled gas in the medium term.
Home to the U.S. Navy's Fifth Fleet, Bahrain is seeking to increase LNG imports to meet a gas shortage amid peak summer energy demand for air-conditioning. Last month the kingdom received its first LNG cargo in six years.
Russian Deputy Prime Minister Alexander Novak met Bahrain's Minister of Oil and Environment, Mohamed bin Mubarak bin Daina, this week to discuss the purchase of 1.5 million tons, or 20 LNG cargoes, per year for three years, the sources said.
"Talks are at an advanced stage and the deal is expected to be concluded soon," one of the sources said.
Volumes are expected to come from Russia's Yamal LNG plant, in which Russia's largest LNG producer, Novatek, holds a majority stake.
Novatek and Bahrain's government communications office did not respond immediately to requests for comment.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
18 minutes ago
- The National
US military confident Syrian partners can continue to fight ISIS
Pentagon is reducing troop presence in Syria, a decade after it arrived to battle ISIS
Zawya
an hour ago
- Zawya
Dubai's Deyaar to launch 110-storey residential tower in Business Bay
Deyaar Development is set to launch a 110-storey residential tower in Business Bay, according to a project brochure released by the developer. 'Rising 110 floors, DWTN Residences is a landmark destination where life's finest experiences converge,' the Dubai-listed developer said in an emailed brochure. 'The tower will offer 180-degree views and over 75,000 square feet (sq ft) of unparalleled facilities and amenities,' the brochure said. The developer is currently gauging the interest from real estate agents and buyers for one-, two-, and three-bedroom apartments. No details were given on the launch date or costs. In January 2025, Refine Development Management said its investment and development arm will launch a 100-storey twin-tower lifestyle development on Sheikh Zayed Road this year. Last year, three developers launched mega-tall towers in Dubai. In January 2024, Danube Properties unveiled Bayz101, a 101-floor tower in Business Bay. Select Group launched its 122-storey Six Senses Residences Dubai Marina in April, followed by Azizi Developments launching the 131-storey Burj Azizi in September. In November 2022, Binghatti and Jacob & Co. launched the over 100-storey Burj Binghatti Jacob & Co Residences. Dubai is already home to the 828-meter Burj Khalifa, the tallest building in the world. Additionally, the emirate hosts five of top 10 tallest residential buildings in the world - the101-storey Marina 101 tower; 101-storey Princess Tower; 88-storey 23 Marina; 91-storey Elite Residence and 80-storey The Torch, all located in Dubai Marina. (Editing by Anoop Menon) (
Khaleej Times
an hour ago
- Khaleej Times
Dubai: 10,000 children get Eidiya from authority in 'cherished tradition'
In a heartwarming gesture, authorities in Dubai have distributed Eidiya (Eid gift money) to 10,000 children, an authority said on Thursday, June 5. The children were from families benefitting from Community Development Authority services, the statement said. Hessa bint Essa Buhumaid, Director General of CDA, said: "The Eidiya is not just financial support; it's a heartfelt message meant to bring joy to children during these blessed days and to make them feel valued and cared for." "Giving Eidiya is a cherished tradition in our culture, and the happiness it brings to children is truly priceless,' she added. This was organised under the 'Eidiya' initiative, and in collaboration with the Endowments and Minors' Trust Foundation (AWQAF Dubai). The initiative also aligns with the goals of the 'Year of Community'. Earlier, Dubai Police in an effort to make Eid special for female inmates distributed clothing and organised special programmes as part of their ongoing humanitarian and social efforts.
