BRUSSELS, Jan. 9 (UPI) -- Russia and Ukraine agreed to let gas shipments from Ukraine be monitored in efforts to end their testy contract dispute, the European Commission said Friday.

WASHINGTON, Dec. 26 (UPI) -- Since 2005 Kiev and Moscow have squabbled over Ukraine’s natural gas arrears to Russia. In one of Europe’s most enduring energy sagas, according to Russian natural gas state monopoly Gazprom spokesman Sergei Kupriyanov, Ukraine has announced that it will pay Moscow $800 million of its outstanding natural gas debt, leaving the remainder for sometime in 2009. Western Europe is nervously watching the dispute, as Russia now provides 44 percent of the European Union's natural gas imports.

WASHINGTON, Nov. 6 (UPI) -- While Gazprom has had a banner year, slumping natural gas demand in Europe, its largest external market, has led the company to consider how to increase profits. Accordingly, in January Gazprom will raise Russian domestic prices by 20 percent.

MOSCOW, Aug. 5 (UPI) -- On July 11, world oil prices established an absolute record of $147 per barrel. But by Aug. 1, one barrel already fetched 16 percent less, or $123.5. Many analysts believe the recent trend of ever increasing prices is reversing, and oil will get cheaper.

MOSCOW, July 11 (UPI) -- On July 8 Gazprom CEO Alexei Miller reported his company's plans to Prime Minister Vladimir Putin. He spoke about a steady, long-term growth of gas prices for all consumers, be they in Western Europe, next-door neighbors or at home.

WASHINGTON, July 2 (UPI) -- Russia's state-owned natural gas monopoly Gazprom, whose market capitalization currently stands at $362 billion, is aggressively seeking to expand its global presence. According to Gazprom Chairman Alexei Miller, he intends to make the firm the world’s largest company within seven to 10 years, when its capitalization is projected to reach $1 trillion.

WASHINGTON, June 6 (UPI) -- The peaceful implosion of the Soviet Union in December 1991 completely changed the geography of the Caspian Sea region: Where Iran had previously shared the Caspian with the Soviet Union, in its place arose four new states -- the Russian Federation, Azerbaijan, Kazakhstan and Turkmenistan.

Turkmen, Afghan leaders discuss ring railway; Gazprom, Siemens ink strategic partnership deal; TNK-BP to finalize sale of Kovykta stake to Gazprom

Gazprom, Belarus begin working on new power plant; Latvia, Estonia press Lithuania to speed up nuclear project; Sudan's oil revenues reach $397M