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Archive for Oil, Gas, Energy

‘Isolating Russia’ in the Oil and Gas Sector

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(Gordon M. Hahn – gordon-hahn@sbcglobal.net – Analyst and Advisory Board Member, Geostrategic Forecasting Corporation, Chicago, Ill, geostrategicforecasting.com; Analyst, Rus Strategic Ltd., Prague, Czech Republic; Senior Researcher, Center for Terrorism and Intelligence Studies, Akribis Group, San Jose, Calif.) Since the Russia’s annexation of Crimea in March in the wake of the revolutionary takeover in Kiev in February,

U.S., EU Unlikely to Invest in Ukraine’s Gas System, Analysts Say

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(Moscow Times – themoscowtimes.com – Ivan Nechepurenko – July 5, 2014) Ukraine’s move Friday toward attempting to sell nearly 50 percent in its gas pipeline system to EU and U.S. investors does not mean that Western buyers will rush to take up the offer, as the system’s value depends on a steady supply of Russian

EU Claims Right to Reverse Flow as Russia Protests

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(The Moscow Times – themoscowtimes.com - July 4, 2014) EU Energy Commissioner Günther Oettinger on Thursday asserted European companies’ right to sell Russian gas back to Ukraine, flying in the face of warnings from Russian energy giant Gazprom as tensions continue to build over energy policy. Energy companies in the EU have an “absolute right to

Russia’s crack pipe to Europe

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(Business New Europe – bne.eu – Nicholas Watson, Ben Aris, Tim Gosling, Rob Whitford – June 30, 2014) The growing confrontation between Russia and the West ranges across many fronts, none more significant than in an area of rural northwest Bulgaria, where in October workers began welding pipes that will feed a natural gas compressor

Why Russia needs to develop nuclear energy

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(Russia Beyond the Headlines – rbth.ru – Andrei Frolov, special to RBTH – June 24, 2014) Andrei Frolov is editor in chief of the magazine Eksport Vooruzheny (Arms Exports). Russian expert discusses the importance of nuclear energy in Russia Russia inherited its nuclear energy sector from the Soviet Union and can take pride in the

RIA Novosti: Russia-EU Gas Transit Through Ukraine Compliant With Contract – Gazprom

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MOSCOW, June 23 (RIA Novosti) – Russia’s EU-bound gas flows through Ukraine comply with transit contraparameters, Gazprom spokesman Sergei Kupriyanov said Monday. “The transit of Russian gas through Ukraine is flowing according to contract parameters with a volume over the last 24 hours of around 205 million cubic meters,” Kupriyanov said. Earlier on Monday, reports

RIA Novosti: Further Gas Cooperation to Benefit Both Moscow, Kiev – Russian Energy Minister

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MOSCOW, June 20 (RIA Novosti) – Ukraine needs gas deliveries from Gazprom, while Russia is interested in reliable gas transit to Europe, making bilateral gas cooperation in the interests of both Moscow and Kiev, Russian Energy Minister Alexander Novak said in an interview with Forbes magazine. “In general, the volume of gas that we deliver

Interfax: Rasmussen’s claim Moscow funds “anti-fracking” environmentalists absurd – Greenpeace

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MOSCOW. June 20 (Interfax) – Greenpeace has rejected a claim made by NATO Secretary General Anders Fogh Rasmussen that Russia funds European environmentalists opposing shale gas production in Europe. “Greenpeace sees this suggestion as absurd because the Organization and many other environmental groups are calling for fracking which used in exploiting shale formations, to be

Why This Russian-Ukrainian ‘Gas War’ Is Different From The Others

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(RFE/RL – Claire Bigg – June 17, 2014) Russia has halted gas supplies to Ukraine — a major escalation of a dispute in which Russia’s state-owned gas giant Gazprom is demanding that Kyiv settle its huge gas debt. But in many ways, what many have dubbed the third “gas war” between the two countries is

Europe Bracing Itself for Worst-Case Gas Scenario

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(Moscow Times – themoscowtimes.com – Alexander Panin – June 18, 2014) In the wake of Russia’s decision to switch Ukraine to prepayment for gas starting Monday, the European Union is planning a new round of negotiations as the danger of supply disruptions to Europe heightens. European officials say, however, that the bloc is currently far

RIA Novosti: Moscow to Hold New Gas Talks Only After Kiev Clears its Debt – Russian Energy Minister

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MOSCOW, June 18 (RIA Novosti) – Moscow only intends to resume trilateral gas talks after Ukraine repays its debt for Russian gas supplies, Energy Minister Alexander Novak said Wednesday. “First of all, we expect payments to be made on the debt for November-December and April-May deliveries. Only after this would we consider having talks, if

Interfax: Accidents on Ukrainian gas pipelines to continue, not enough invested in maintenance

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(Interfax – June 18, 2014) Accidents on Ukraine’s gas transportation system will continue because not enough is being spent on maintenance, Gazprom Deputy CEO Vitaly Markelov told journalists, commenting on yesterday’s blast and fire on the Urengoi-Pomary-Uzhgorod gas pipeline in Ukraine’s Poltava region. “The gas transportation system, ours and Ukraine’s, was created as a unified

Gazprom’s EU customers not at risk for now

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(Business New Europe – bne.ru – Teneo Intelligence – June 17, 2014) Following the failure of negotiations on natural gas pricing and debt between Russia and Ukraine last weekend, Russian company Gazprom reduced supply volumes to Ukraine, the main transit country for gas delivered to Gazprom’s EU customers. However, Gazprom continues to deliver contracted amounts

Exactly what is a fair price for Ukraine to pay for Russian gas?

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(Business New Europe – bne.eu – Ben Aris in Moscow – June 16, 2014) [Charts here http://www.bne.eu/content/exactly-what-fair-price-ukraine-pay-russian-gas] Russia cut Ukraine off from gas deliveries on June 16 after the emergency talks at the weekend to strike a new price for gas failed. From now on Russia won’t deliver any gas unless Ukraine pays for it

Looking down the Russia-China pipeline from Beijing’s end

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(Business New Europe – bne.eu – COMMENT: Karine Hirn, Partner and Senior Advisor at East Capital – June 17, 2014) The $400bn Russian gas pipeline deal has been hailed as a game-changer for Russia, but what does it mean for China? Pipelines are the geopolitical equivalent of marriage and China has happily tied itself to

Russia accuses West of “protecting” Ukraine at gas talks

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(Interfax – Moscow, June 15, 2014) Moscow believes that there may be a third power behind Ukraine’s intransigent position in its talks with Russia over gas. Russian Foreign Minister Sergey Lavrov told Russian journalists on Sunday [15 June] that the Ukrainian authorities are making use of “impunity because they are being protected by our Western

NEWSLINK: Russia’s Gazprom reduces gas to Ukraine after deadline passes

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["Russia's Gazprom reduces gas to Ukraine after deadline passes" - Maria Kiselyova, Denis Pinchuk - June 16, 2014] Reuters reports on Russia’s move to ratchet back gas flows to Ukraine, with potential also to impact Russian gas supplies to the EU: Russian natural gas exporter Gazprom reduced supplies to Ukraine on Monday after Kiev failed

Interfax: Conditions proposed to Ukraine on gas shipments better than those in place under Yanukovych – Miller

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GORKI. June 16 (Interfax) – The conditions that were proposed to Kyiv during gas talks were better than the conditions in place under former Ukrainian president Viktor Yanukovych, Gazprom (MOEX: GAZP) CEO Alexei Miller said at a meeting with Russian Prime Minister Dmitry Medvedev. Firstly, the Russian side was ready to guarantee that the discount

RIA Novosti: Europe Ready to Consider Opal Pipeline For Future Gas Supplies – Gazprom

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MOSCOW, June 16 (RIA Novosti) – If Ukraine disrupts Russian gas transit via its territory, the European Commission is ready to negotiate increased deliveries through the Opal pipeline, Gazprom CEO Alexei Miller said Monday. “We have discussed this issue with the European Commission. It is now as follows: if we record problems with transit via

Russia Sets Ukraine June 16 Deadline as Gas Talks Resume

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(Business New Europe – bne.eu – Tim Ash, Standard Bank – June 12, 2014) Bloomberg reports that Russia gave Ukraine an extra six days to make payments for natural gas as the countries resumed European Union-brokered talks in Brussels on June 11. The new deadline is 10 a.m. Moscow time June 16, Alexey Miller, chief

RIA Novosti: Russia Ready to Review Ukraine’s Gas Debt, Scrap Prepayment Scheme – Energy Minister

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BRUSSELS, June 11 (RIA Novosti) – Russia will not introduce advance gas payments for Ukraine and review its gas debt downwards if Kiev pays off $2 billion of its gas debt by June 16 and clears arrears in full by June 26, Energy Minister Alexander Novak said Wednesday. “It was suggested to review the payoff

NEWSLINK: Russian gas keeps flowing to Ukraine as deadline passes

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["Russian gas keeps flowing to Ukraine as deadline passes" - Reuters - June 10, 2014] Reuters reports that Russian gas supplies to Ukraine and the EU have remained stable, despite the passing of a deadline over disputed Ukrainian gas bills.  Meanwhile, the European Commission continues to broker related negotiations. Natural gas supplies to Ukraine and the European Union

Russia Sees Underhanded Sanctions in Bulgaria’s Suspension of South Stream

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(Moscow Times – themoscowtimes.com – Ivan Nechepurenko – June 10, 2014) Bulgaria’s decision to suspend construction of the Russia-led South Stream pipeline project on its territory, undermining Russia’s efforts to diversify its gas transportation infrastructure to Europe away from Ukraine, is an underhanded economic sanction thrust on Russia by the West, a top Russian diplomat

Nobody wants to give up energy cooperation with Russia – Putin

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(Interfax – Archangelsk, June 9, 2014) Other countries benefit from cooperation with the Russian Federation in the energy sector, Russian President Vladimir Putin believes. “Nobody is going to give up energy cooperation (with Russia – Interfax) voluntarily,” Putin said at a meeting with students in Arkhangelsk. Speaking about this, the head of state pointed out

Gazprom Says U.S. Can’t Prevent European Reliance on Russian Gas

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(Bloomberg – bloomberg.com – Elena Mazneva – June 3, 2014) OAO Gazprom (OGZD), Russia’s gas-export monopoly, said U.S. pressure won’t stop it from supplying fuel to Europe and increasing market share in the region. “We understand that the U.S., sitting high on a hill and independent of economic cooperation with us, is pushing Europe to

Russia Gives Ukraine Leeway on Gas as Five Rebels Killed

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(Bloomberg – bloomberg.com – Elena Mazneva, Stephen Bierman, Daryna Krasnolutska – June 2, 2014) Russia gave Ukraine an extra week to pay in advance for gas supplies or risk a cutoff, as the Ukrainian government said its forces killed five pro-Russian rebels in an upsurge in fighting in the eastern city of Luhansk. Russian gas

RIA Novosti: Russia Demands Kiev to Pay Gas Debt in Full Before June 9

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MOSCOW, June 2 (RIA Novosti) – Ukraine has to pay Moscow the remaining part of $2.2 billion gas debt and agree on payment schedule for April-May gas supplies before June 9, press-service of Russia’s Energy Ministry said Monday. “Before this deadline Ukraine has to pay the remaining part of $2.23 billion debt and also agree

Sino-Russia gas deal represents a fundamental change

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(Business New Europe – bne.eu – COMMENT: Jacob Grapengiesser of East Capital – June 2, 2014) After ten years of haggling, Moscow and Beijing finally signed off on game-changing $400bn gas supply deal, under which Russia will at first supply 38bn cubic metres (cm) of gas to China over 30 years from 2018. Moscow and

Ukraine Nears Russian Gas Deal as Eastern Clashes Persist

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(Bloomberg – bloomberg.com – Elena Mazneva, Brian Parkin, Ewa Krukowska – May 31, 2014) Russia and Ukraine moved closer to a deal that would keep gas flowing between the countries even as they spar over Russian support for separatists seeking to break away from the government in Kiev. After talks brokered by the European Union

RIA Novosti: Preview: Russia, EU, Ukraine Attempt to Resolve Gas Dispute for Third Time

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MOSCOW, May 30 (RIA Novosti) – Officials from Russia, Ukraine and the EU are set to hold talks in Berlin on Friday, a third attempt to resolve the gas dispute caused by Ukraine’s $4 billion outstanding gas debt. Russian Energy Minister Alexander Novak is also scheduled to meet with EU Energy Commissioner Gunther Oettinger on

Gazprom’s Miller says Ukraine will owe $5.2 billion by June 7

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(Business New Europe – bne.eu – Tim Ash, Standard Bank – May 29, 2014) I guess that is the $2.5bn for the period to the end of March, another $1bn for April/May, and then $1.7bn in pre-payment for June, as previously demanded by Moscow. EU officials have suggested though that $4bn is owed to date,

EU proposed to repay to Gazprom half of Ukraine’s debt for April-May gas supplies as payment deadline nears

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(Business New Europe – bne.eu – May 29, 2014) Gazprom, which earlier sent a prepayment bill to Ukraine, will limit gas supplies on June 3 if Kiev does not pay the advance bill for June, Gazprom CEO Alexei Miller said Wednesday at a meeting of President Vladimir Putin with the government, Prime reported. According to

Russia-China gas deal spells trouble for the dollar

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(Business New Europe – bne.eu – INVISIBLE HAND – Liam Halligan in London, Editor-at-Large of BNE – May 28, 2014) The St Petersburg International Economic Forum (SPIEF), now in its 18th year, was less well attended than usual. The absence of various US and Western Europe CEOs, responding to pressure from their governments following sanctions

Sechin Sues Forbes for ‘Highest-Paid Executive’ Rating

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(Moscow Times – themoscowtimes.com – May 28, 2014) Rosneft head Igor Sechin has filed a lawsuit against journalists and publishers of the Russian edition of Forbes and Komsomolskaya Pravda for an article he says threatens to damage his business reputation. The lawsuit, filed on May 15, demands that the journalists and publishers behind a November

RIA Novosti: Russia’s Oil Reserves to Produce 600 Million Tons Annually for 30 Years – Minister

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MOSCOW, May 28 (RIA Novosti) – Russia’s known oil reserves are enough to provide a yearly extraction of 600 million tons of oil for the next 30 years, Natural Resources Minister Sergei Donskoi told lawmakers on Wednesday, reaffirming the country may continue to heavily rely on natural resources to sustain its economy. “The Russian Federation

Ukraine: The Real Energy Crisis Starts in June

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(Oilprice.com – Robert Bensh – May 27, 2014) Kiev is feeling emboldened by the successful election of a new Ukrainian president and a bloody surge against separatists in the east, but in just a few days, Russia says it will twist the gas spigot, and there’s very little Kiev can do to stop that. On

Russia Working to Develop Promising Energy Sources – Putin

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ST. PETERSBURG, May 23 (RIA Novosti) – Russia is working on the development of promising new energy sources, but in the next 30 years while power consumption is growing existing sources of energy will essentially re main the same, Russian President Vladimir Putin said Friday. “Of course, we are already thinking about promising sources of

Ukraine Must Show Will to Pay Before Gas Talks, Medvedev Says

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(Bloomberg – bloomberg.com – Ryan Chilcote, Olga Tanas and Henry Meyer – May 20, 2014) Ukraine should settle a substantial part of its natural-gas debt and set a payment schedule before Russia will start price negotiations amid a dispute that may affect Europe, according to Prime Minister Dmitry Medvedev. “It should be a substantial sum

RIA Novosti: Opinion: Russia Could Turn Off Gas Supply to Ukraine

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MOSCOW, May 20 (RIA Novosti), Nadia Koulikova – There is every possibility that Russia will turn off gas flows to Ukraine should the country not pay its outstanding debts, William Powell, senior managing editor for Platts International Gas Report, told RIA Novosti Tuesday. “To do otherwise would set a dangerous precedent that bills are optional.

RIA Novosti: Russia Ready to Discuss Gas Discounts if Ukraine Pays April Debt

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BERLIN, May 19 (RIA Novosti) – Russia is prepared to discuss energy discounts after Kiev pays its April 1 bill for Russian natural gas, which Ukraine and the European Commission have confirmed stands at $2.2 billion, Russian Energy Minister Alexander Novak said Monday. “Ukraine needs to show its readiness, at least partially, to pay its

Putin’s Shanghai Expedition Stokes Gazprom Deal Talk

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(Bloomberg – bloomberg.com – Halia Pavliva and Ksenia Galouchko – May 19, 2014) President Vladimir Putin’s planned China visit this week is helping spark the longest rally in OAO Gazprom since 2006 as speculation mounts the Russian leader will return with a long-sought gas supply agreement. Gazprom, the world’s largest natural-gas producer, has climbed for

Gazprom Sees Little Risk Of Disruption To European Energy Supply

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(Oilprice.com – Daniel J. Graeber – May 14, 2014) Russian gas monopoly Gazprom says that despite the ongoing turmoil in Ukraine, the risk to disruption of European energy supplies is “insignificant” because demand is expected to be low during the spring and summer months. In its quarterly report, the company said, “At the moment due

RIA Novosti: Moscow Says Ukraine Unable to Pay for Gas Supplies

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MOSCOW, May 15 (RIA Novosti) – Moscow doubts Kiev will be able to pay for Russian gas supplies even if provided discounts because of the economic crisis in the country, Russian Energy Minister Alexander Novak said Thursday. “We do not have any guarantees that even with a price of $100 [per thousand cubic meters] …

Interfax: Russia ready to adapt gas contracts, make them more flexible – expert

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BRUSSELS. May 14 (Interfax) – Russia is ready to adapt long-term gas supply contracts and make them more flexible, said Pavel Zavalny, president of the Russian Gas Society. “Keeping relations with traditional consumers of Russian energy resources stable is a foreign energy policy priority. Russia is ready adapt the system of its own contracts to

RIA Novosti: EU Embargo on Russian Gas Would be Catastrophic for Eastern Europe – Nexant

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WASHINGTON, May 14 (RIA Novosti) – A complete European embargo on Russian gas imports would lead to an energy catastrophe in eastern European countries, an expert from San-Francisco based Nexant told RIA Novosti on Wednesday. Bulgaria, Macedonia, Slovakia, Finland, Bosnia and Herzegovina could be completely cut off by Western countries if they no longer serve

RIA Novosti: Naftogaz Debt Remains Unpaid Even at Low Price – Gazprom Official

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BRUSSELS, May 14 (RIA Novosti) – Ukraine’s state-run Naftogaz has not paid any part of its gas debt to Russia, despite Kiev’s announcement that it is ready to cover the debt at a reduced price, a Gazprom official said Wednesday. “They have not paid even at the old reduced price, the debt remains unpaid,” said

Ukraine’s gas politics

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It is commonly assumed that the main economic challenge facing Ukraine is its dependence on energy supplies, especially natural gas, imported from Russia. But that is only half the story (opendemocracy.net – Margarita Balmaceda and Peter Rutland – May 8, 2014) Peter Rutland is professor of government at Wesleyan University in Connecticut, USA. Margarita Balmaceda

RIA Novosti: Kiev Refuses to Acknowledge $3.5Bln Gas Debt to Russia

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(RIA Novosti – KIEV, May 8, 2014) Ukraine does not acknowledge the $3.5 billion debt for Russian gas deliveries earlier announced by Russian energy giant Gazprom, acting Ukrainian Energy Minister Yuriy Prodan said Thursday. “We cannot accept the figure mentioned by Gazprom because Gazprom includes in this total some calculations that are based on an

Why The Russia-Ukraine Gas Dispute Is Making Europe Worried

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(RFE/RL – rferl.org – Charles Recknagel – May 7, 2014) The European Union gets about one-third of its natural gas from Russia, and about half of that gas arrives in Europe via pipelines passing through Ukraine. Moscow is threatening to cut off natural-gas deliveries to Ukraine unless Kyiv promptly pays its outstanding bills. And that means the EU could

BNE: Russia is reportedly ready to provide a discount for gas to Ukraine

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(Business New Europe – bne.eu – Concorde Capital – May 7, 2014) Russia will be ready to consider a discount for natural gas to Ukraine on the second round of negotiations on the gas issue where EU Commission representatives should also be present, Russian Izvestia reported on May 7 citing its source in the government.

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