The pipeline project has faced resistance from the United States, which says the pipeline will increase Europe's reliance on Russian energy.
Europe's gas squeeze has shone a spotlight on Russia, which accounts for a third of the region's supplies, prompting European politicians to blame Moscow for not pumping enough.
Natural gas prices at record highs could provide a potential headwind to oil demand growth, OPEC said.
Gas prices have rallied, but what will be the implications for the North American shale market in the months ahead?
This is the first major binding deal for natural gas between the U.S. and China since a long-standing trade war which brought gas trade between both countries to a temporary standstill.
Fatih Birol said the IEA’s own analysis suggested Russia could raise exports by roughly 15% of peak winter supply to Europe and urged Moscow to step up as a “reliable supplier.”
Stonepeak is offering $17 per unit to acquire all the issued and outstanding common units in Teekay LNG, one of the world’s largest independent owners and operators of LNG carriers.
The U.S. market is worried about the coming cold, particularly in New England and California—where prices for gas to be delivered this winter are far above the nationwide benchmark.