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    Russian Oil and Gas Industry: News

    higurashihougi
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    Post  higurashihougi on Fri Aug 21, 2015 5:06 am

    Can you believe they still write these piece of shit ?

    https://www.washingtonpost.com/world/russia-used-to-have-a-powerful-weapon-in-its-energy-sector-not-anymore/2015/08/17/b58f314c-4043-11e5-b2c4-af4c6183b8b4_story.html

    At the same time, vast new stores of natural gas were unlocked in the United States as part of the shale gas boom lol1 lol1 lol1 lol1 , further increasing global supplies. lol! lol!
    sepheronx
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    Post  sepheronx on Fri Aug 21, 2015 5:50 am

    No further new wells are being created, while only 5 shale oil companies went bust with more in the red. But once prices go back up, expect new and former companies to spring back up. So Russia living off of a $50 - $60bbl would be most ideal, as it keeps competition away, thus could drive up more contracts with other countries.
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    Post  Karl Haushofer on Mon Aug 24, 2015 11:34 am

    Lenta says that Iran has promised to increase oil production “at any cost”. Wonder how low the oil price can go? Is $20 realistic?
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    Post  sepheronx on Mon Aug 24, 2015 2:54 pm

    The problem I am seeing is that if they increase production, and oil devalues even more, it will turn companies off from investing in Irans oil companies so those $100's of billions Iran said outsiders would invest in, in Iran, will never happen due to having nearly no turnout of profits. So I am assuming some sort of deals are worked out that they increase production to get oil low, and companies invest, but they will invest significantly less, then they could get "farther" with their low investments when or if oil goes up again.

    It seems like economic suicide imo.
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    Post  higurashihougi on Mon Aug 24, 2015 3:00 pm

    South Stream hope of revival ? I though Russia rejected South Stream and switched to Blue Stream Enlarged Version ?

    http://sputniknews.com/russia/20150824/1026122064/putin-bulgaria-pipeline.html

    President Vladimir Putin’s stated desire to keep working with Bulgaria on several joint projects inspires hope that the South Stream gas pipeline project Russia scrapped last year may eventually take off, German media wrote on Monday.
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    Post  par far on Mon Aug 24, 2015 9:06 pm

    Karl Haushofer wrote:Lenta says that Iran has promised to increase oil production “at any cost”. Wonder how low the oil price can go? Is $20 realistic?



    Why would Iran do that?
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    Post  par far on Mon Aug 24, 2015 9:06 pm

    Karl Haushofer wrote:Lenta says that Iran has promised to increase oil production “at any cost”. Wonder how low the oil price can go? Is $20 realistic?



    Why would Iran do that?
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    Post  AlfaT8 on Mon Aug 24, 2015 9:30 pm

    par far wrote:
    Karl Haushofer wrote:Lenta says that Iran has promised to increase oil production “at any cost”. Wonder how low the oil price can go? Is $20 realistic?



    Why would Iran do that?

    Perhaps to throw another wrench into the economic boondoggle, or to put it in another way, to add more fuel to the economic fire. Razz
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    Post  KoTeMoRe on Mon Aug 24, 2015 9:46 pm

    par far wrote:
    Karl Haushofer wrote:Lenta says that Iran has promised to increase oil production “at any cost”. Wonder how low the oil price can go? Is $20 realistic?



    Why would Iran do that?

    Because more sales are needed. Iran has contracts to honor with SK that were stiffed under the sanctions regime. The main issue is that there could be a problem with the US senate which could block the 150bln USD sequestrations and frozen assets. Iran is just making sure it doesn't get *****. So they will produce more. The other issue with Iran is that it needs fresh cash ASAP to relaunch a series of social programs that were frozen since 2010. As it can't just stop throwing 2/3 blns a year to its own endeavours in the region, Iran needs oil money even at the lowest price possible.

    Furthermore there's a reason behind this glut. It's simply a form of stimulus. Plenty of oil, means lower prices, means people having more incentives to buy it. That line of thinking has a flaw however. Oil isn't just any commodity and de-valuating the damn thing is a very bad precedent. The lower the oil goes, the higher it rebounds over time (peak-oil complex). And Iran wouldn't be really hurting at this point. Russia itself is pumping more than ever. So yeah the wrench in the machine kind of thing could be possible.
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    Post  sepheronx on Mon Aug 24, 2015 10:12 pm

    http://sputniknews.com/business/20150824/1026144413/oil-prices-muhammad-as-sayyad-fall-further.html

    This is the reason why they up production.
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    Post  KoTeMoRe on Mon Aug 24, 2015 10:52 pm

    sepheronx wrote:http://sputniknews.com/business/20150824/1026144413/oil-prices-muhammad-as-sayyad-fall-further.html

    This is the reason why they up production.

    Errm that's the consequence, not the reason. The reason is that there's a cyclical surge on oil efficiency and the US is currently NOT buying back oil for its strategic reserve as it used to. Especially since it is also lowering the need for it, since it has stopped it military shenanigans.

    The other issue is the general worsening of the global economy. In the face of the Growth Crowd, there's little real growth. So people just wait for it to be the lowest possible. Your normal chicken game. However, as said, the deeper it falls, the higher it bounces back. I really hope people enjoy the 35 USD ERA, because they'll love the 190 USD era rape.

    BTW little clarification, Russia pegs its bbl price with the Brent, not WTI. Brent is little under 44 USD bbl..
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    Post  Karl Haushofer on Mon Aug 24, 2015 11:11 pm

    par far wrote:
    Karl Haushofer wrote:Lenta says that Iran has promised to increase oil production “at any cost”. Wonder how low the oil price can go? Is $20 realistic?



    Why would Iran do that?
    Why would Iran increase it's oil production? Iran can drill a lot of oil with cheap costs and they can profit with even the current low price.
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    Post  sepheronx on Mon Aug 24, 2015 11:19 pm

    KoTeMoRe wrote:
    sepheronx wrote:http://sputniknews.com/business/20150824/1026144413/oil-prices-muhammad-as-sayyad-fall-further.html

    This is the reason why they up production.

    Errm that's the consequence, not the reason. The reason is that there's a cyclical surge on oil efficiency and the US is currently NOT buying back oil for its strategic reserve as it used to. Especially since it is also lowering the need for it, since it has stopped it military shenanigans.

    The other issue is the general worsening of the global economy. In the face of the Growth Crowd, there's little real growth. So people just wait for it to be the lowest possible. Your normal chicken game. However, as said, the deeper it falls, the higher it bounces back. I really hope people enjoy the 35 USD ERA, because they'll love the 190 USD era rape.

    BTW little clarification, Russia pegs its bbl price with the Brent, not WTI. Brent is little under 44 USD bbl..

    Yes, you are right, partially. The initial fall is what created this issue, but it was perpetuated by the issue itself. If OPEC nations decided to just drop production, then prices would go back up, even if modestly.

    Right now, big time sellers is petrol for Russia, and even they are facing an issue where production costs have gone up by 14% or more (I don't know where they get the figures from) but consumer prices have dropped (really small, maybe less than 1%). But they are the ones still big time earners and I believe they are selling those more, as nations are already facing a petrol glut.

    You are also right that the world economy is going into the shitter. And yes, that would also greatly effect Russia. But in these times, it should be in Russia's best interest to divert its economy not eastward, westward or souther or north or whatever, but inward. Since Russian consumers account for 80% or more of Russia's GDP, there needs to be concentration on making Russian's more consistent consumers and should concentrate on sale of petrol for domestic, sale of components for domestic, etc etc etc. With the rouble dropping, this should be prime opportunity for major companies to move production to at home. Yota devices for instance should be making the cellphones at home now. Same with other Russian brands. But they are not doing it, because it is expensive to open up production no matter where, and the Russian central bank, and the absolutely brilliant (not) minds are making it relatively expensive to set up shop at home.
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    Post  magnumcromagnon on Tue Aug 25, 2015 12:27 am

    sepheronx wrote:
    KoTeMoRe wrote:
    sepheronx wrote:http://sputniknews.com/business/20150824/1026144413/oil-prices-muhammad-as-sayyad-fall-further.html

    This is the reason why they up production.

    Errm that's the consequence, not the reason. The reason is that there's a cyclical surge on oil efficiency and the US is currently NOT buying back oil for its strategic reserve as it used to. Especially since it is also lowering the need for it, since it has stopped it military shenanigans.

    The other issue is the general worsening of the global economy. In the face of the Growth Crowd, there's little real growth. So people just wait for it to be the lowest possible. Your normal chicken game. However, as said, the deeper it falls, the higher it bounces back. I really hope people enjoy the 35 USD ERA, because they'll love the 190 USD era rape.

    BTW little clarification, Russia pegs its bbl price with the Brent, not WTI. Brent is little under 44 USD bbl..

    Yes, you are right, partially.  The initial fall is what created this issue, but it was perpetuated by the issue itself.  If OPEC nations decided to just drop production, then prices would go back up, even if modestly.

    Right now, big time sellers is petrol for Russia, and even they are facing an issue where production costs have gone up by 14% or more (I don't know where they get the figures from) but consumer prices have dropped (really small, maybe less than 1%).  But they are the ones still big time earners and I believe they are selling those more, as nations are already facing a petrol glut.

    You are also right that the world economy is going into the shitter.  And yes, that would also greatly effect Russia.  But in these times, it should be in Russia's best interest to divert its economy not eastward, westward or souther or north or whatever, but inward.  Since Russian consumers account for 80% or more of Russia's GDP, there needs to be concentration on making Russian's more consistent consumers and should concentrate on sale of petrol for domestic, sale of components for domestic, etc etc etc.  With the rouble dropping, this should be prime opportunity for major companies to move production to at home.  Yota devices for instance should be making the cellphones at home now.  Same with other Russian brands.  But they are not doing it, because it is expensive to open up production no matter where, and the Russian central bank, and the absolutely brilliant (not) minds are making it relatively expensive to set up shop at home.

    With gas being so cheap and with the a low-valued Rouble, I think the time is right for a massive development plan for the Far East.
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    Post  JohninMK on Tue Aug 25, 2015 12:36 am

    magnumcromagnon wrote:
    sepheronx wrote:
    KoTeMoRe wrote:
    sepheronx wrote:http://sputniknews.com/business/20150824/1026144413/oil-prices-muhammad-as-sayyad-fall-further.html

    This is the reason why they up production.

    Errm that's the consequence, not the reason. The reason is that there's a cyclical surge on oil efficiency and the US is currently NOT buying back oil for its strategic reserve as it used to. Especially since it is also lowering the need for it, since it has stopped it military shenanigans.

    The other issue is the general worsening of the global economy. In the face of the Growth Crowd, there's little real growth. So people just wait for it to be the lowest possible. Your normal chicken game. However, as said, the deeper it falls, the higher it bounces back. I really hope people enjoy the 35 USD ERA, because they'll love the 190 USD era rape.

    BTW little clarification, Russia pegs its bbl price with the Brent, not WTI. Brent is little under 44 USD bbl..

    Yes, you are right, partially.  The initial fall is what created this issue, but it was perpetuated by the issue itself.  If OPEC nations decided to just drop production, then prices would go back up, even if modestly.

    Right now, big time sellers is petrol for Russia, and even they are facing an issue where production costs have gone up by 14% or more (I don't know where they get the figures from) but consumer prices have dropped (really small, maybe less than 1%).  But they are the ones still big time earners and I believe they are selling those more, as nations are already facing a petrol glut.

    You are also right that the world economy is going into the shitter.  And yes, that would also greatly effect Russia.  But in these times, it should be in Russia's best interest to divert its economy not eastward, westward or souther or north or whatever, but inward.  Since Russian consumers account for 80% or more of Russia's GDP, there needs to be concentration on making Russian's more consistent consumers and should concentrate on sale of petrol for domestic, sale of components for domestic, etc etc etc.  With the rouble dropping, this should be prime opportunity for major companies to move production to at home.  Yota devices for instance should be making the cellphones at home now.  Same with other Russian brands.  But they are not doing it, because it is expensive to open up production no matter where, and the Russian central bank, and the absolutely brilliant (not) minds are making it relatively expensive to set up shop at home.

    With gas being so cheap and with the a low-valued Rouble, I think the time is right for a massive development plan for the Far East.
    From what I have read over the past couple of months that is exactly the plan. Funded by both Russia and China. Bear in mind that China seems to have contracts based on spot not a fixed contract price.
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    Post  Project Canada on Tue Aug 25, 2015 2:58 am


    Putin Gives South Stream a New Lease on Life - German Media

    President Vladimir Putin’s stated desire to keep working with Bulgaria on several joint projects inspires hope that the South Stream gas pipeline project Russia scrapped last year may eventually take off, German media wrote on Monday.

    “We… will continue to work with Bulgaria, independently of all the difficult questions in connection with different projects, including South Stream,"
    Putin said on the sidelines of an official event in Crimea earlier this week, Deutsche Welle reported.
    Putin assured those present that Russia would develop its relations with Bulgaria "on all tracks," adding that Russia and Bulgaria have historically enjoyed close ties.
    In Bulgaria, his words have been taken as a "clear signal of reconciliation" and "a completely new tone in bilateral relations."

    “Many in Bulgaria hope that the South Stream project can be revived,” Deutsche Welle commented.

    Read more: http://sputniknews.com/russia/20150824/1026122064/putin-bulgaria-pipeline.html#ixzz3jmffQ0js

    sepheronx
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    Post  sepheronx on Tue Aug 25, 2015 3:35 am

    magnumcromagnon wrote:
    sepheronx wrote:
    KoTeMoRe wrote:
    sepheronx wrote:http://sputniknews.com/business/20150824/1026144413/oil-prices-muhammad-as-sayyad-fall-further.html

    This is the reason why they up production.

    Errm that's the consequence, not the reason. The reason is that there's a cyclical surge on oil efficiency and the US is currently NOT buying back oil for its strategic reserve as it used to. Especially since it is also lowering the need for it, since it has stopped it military shenanigans.

    The other issue is the general worsening of the global economy. In the face of the Growth Crowd, there's little real growth. So people just wait for it to be the lowest possible. Your normal chicken game. However, as said, the deeper it falls, the higher it bounces back. I really hope people enjoy the 35 USD ERA, because they'll love the 190 USD era rape.

    BTW little clarification, Russia pegs its bbl price with the Brent, not WTI. Brent is little under 44 USD bbl..

    Yes, you are right, partially.  The initial fall is what created this issue, but it was perpetuated by the issue itself.  If OPEC nations decided to just drop production, then prices would go back up, even if modestly.

    Right now, big time sellers is petrol for Russia, and even they are facing an issue where production costs have gone up by 14% or more (I don't know where they get the figures from) but consumer prices have dropped (really small, maybe less than 1%).  But they are the ones still big time earners and I believe they are selling those more, as nations are already facing a petrol glut.

    You are also right that the world economy is going into the shitter.  And yes, that would also greatly effect Russia.  But in these times, it should be in Russia's best interest to divert its economy not eastward, westward or souther or north or whatever, but inward.  Since Russian consumers account for 80% or more of Russia's GDP, there needs to be concentration on making Russian's more consistent consumers and should concentrate on sale of petrol for domestic, sale of components for domestic, etc etc etc.  With the rouble dropping, this should be prime opportunity for major companies to move production to at home.  Yota devices for instance should be making the cellphones at home now.  Same with other Russian brands.  But they are not doing it, because it is expensive to open up production no matter where, and the Russian central bank, and the absolutely brilliant (not) minds are making it relatively expensive to set up shop at home.

    With gas being so cheap and with the a low-valued Rouble, I think the time is right for a massive development plan for the Far East.

    That is happening already.  Seems central Russia gets some new refineries to convert the oil to petrol (my guess is that there is quite a bit of money in the sale of petrol to China).  And of course, as most of it is petrol, there is the idea of turning Vladivostok into a free trade area with a new visa regime.  Then there is of course expansion of railways and new railway carts for the Siberia and far east weather.  I believe mining is also still growing and more mines have opened in far east.  There are also some sporadic developments in terms of industry, like the automotive that China is opening up, wood processing, etc.

    JohninMK wrote:Russia is not alone in having problems, it just gets more publicity!

    Unlike those oil producers whose currencies follow the US$ Russia's does not, it is floating. The effect of this over the last 12 months has been that the price that Russia has received for its oil has not dropped in ruble terms anything like the headline figures.

    This time last year Brent was around $100 and there were about 35 ruble to the US$, now it is around 45 and 70 respectively. So when that income is converted and used as rubles in Russia there is not much difference. Clearly there is a dramatic drop in the number of US$ that can be spent on imports, repaying loans etc. But all is not bad as long as the ruble tracks the US$ down.

    Other currencies are reacting similarly, if not quite so dramatically, the Norwegian Kroner has dropped over 30% for instance which, when combined with the Russian food sanctions, is hitting them hard, but then you seldom read about that as it is not on the West's MSM whilst Russia's problems are front page.

    Even the in the US there are problems where their income from oil sales has more than halved, resulting in the forthcoming decimation of the shale industry, along with serious drops in profits and hence tax revenues.

    Absolutely correct. The only thing I fear out of this devaluation is that CBR will try to intervene when they shouldn't. Purpose of the free floating currency is so they wouldn't have to. Now they are increasing their reserves but talk of freezing or even partially increasing (again) interest rates is what scares me. As already has been mentioned, billions have been "lost" due to increase in interest rates. New production that should have opened to import substitute (ultimately dealing a blow against inflation) cannot start due to lack of funding. They would have been able to get funding though, if they were able to obtain a cheaper loan. Which they cannot thanks to the bank. So now businesses all have to line up to obtain a grant from the government in order to do such things. Which isn't such a bad idea really - aim to fight the CBR through alternatives like interest free loans through the government, or other such schemes.

    I know in 2009, there were a ton of "pawn shops" opening up all over Russia to provide european style interest rates (5% when CBR had interest rates at 15%) to businesses and families. Pathetic it had to come to that, but it seems that CBR works against Russia, not for them.

    http://www.rt.com/business/pawnshops-see-upside-tough/
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    Post  JohninMK on Wed Aug 26, 2015 12:35 am

    Project Canada wrote:

    Putin Gives South Stream a New Lease on Life - German Media

    President Vladimir Putin’s stated desire to keep working with Bulgaria on several joint projects inspires hope that the South Stream gas pipeline project Russia scrapped last year may eventually take off, German media wrote on Monday.

    “We… will continue to work with Bulgaria, independently of all the difficult questions in connection with different projects, including South Stream,"
    Putin said on the sidelines of an official event in Crimea earlier this week, Deutsche Welle reported.
    Putin assured those present that Russia would develop its relations with Bulgaria "on all tracks," adding that Russia and Bulgaria have historically enjoyed close ties.
    In Bulgaria, his words have been taken as a "clear signal of reconciliation" and "a completely new tone in bilateral relations."

    “Many in Bulgaria hope that the South Stream project can be revived,” Deutsche Welle commented.

    Read more: http://sputniknews.com/russia/20150824/1026122064/putin-bulgaria-pipeline.html#ixzz3jmffQ0js

    Another very interesting strand to Russian diplomacy. I suspect this is all about about Turkey and Syria rather than SouthStream.

    First mucho publicity on NordStream 2 threatening the need for all the potential capacity of TurkStream, now this, both threatening on the one hand, with re-activating SouthStream, as well as in a way reassuring Turkey on the other. The importance is that the route to the EU via Turkey, then Greece then Bulgaria is a lot easier and quicker than going through Macedonia etc. As well as getting Bulgaria back on side now that they know what the EU/US offered in return for them effectively killing the SouthStream work and revenue stream, kinda sweet FA.

    Kremlin diplomacy barely puts a foot wrong nowadays.

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    Post  sepheronx on Wed Aug 26, 2015 5:49 am

    The agreement so far for Turk Stream, or what Turkey claims they sent to Russia, is for the single pipeline. So in other words, for gas only for Turkey. Second, third and fourth pipeline - no agreement yet.
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    Post  Austin on Sun Aug 30, 2015 8:24 pm

    New Russian Gas Export Projects – From Pipe Dreams to Pipelines
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    Post  Karl Haushofer on Mon Aug 31, 2015 4:17 pm

    Eni claims to have found a "game changing" gas discovery in the Mediterranean Sea near Egypt: http://www.cnbc.com/2015/08/30/eni-makes-huge-natural-gas-deposit-find-off-egypts-coast.html

    Any affect on Gazprom?

    You think Egypt will become a target for Western destabilization attack to get this gas free from Egypt?
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    Post  sepheronx on Mon Aug 31, 2015 4:40 pm

    Well, Egypt is going to save money by not importing gas. So they will use it mainly for domestic consumption. With gas prices being as low as they are, there probably isnt much incebtive to sell abroad but save for domestic use since Egypt pays quite a bit for LNG.
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    Post  JohninMK on Mon Aug 31, 2015 5:21 pm

    Its going to be years before they actually get any out and piped/tankered to shore. Certainly not before Gazprom is pumping big volumes to China.

    This is one of the many discoveries in the Eastern Mediterranean off Gaza/Israel/Lebanon/Syria that could, if allowed, pump gas to the EU over the next 10 to 20 years.
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    Post  Vann7 on Tue Sep 01, 2015 3:26 am

    Karl Haushofer wrote:Eni claims to have found a "game changing" gas discovery in the Mediterranean Sea near Egypt: http://www.cnbc.com/2015/08/30/eni-makes-huge-natural-gas-deposit-find-off-egypts-coast.html

    Any affect on Gazprom?

    You think Egypt will become a target for Western destabilization attack to get this gas free from Egypt?

    No this will not affect Gazprom.. a pipeline from Egypt to Europe is not possible..
    there is deep waters and the distance too long.. it will be very expensive such project and
    no investors.. if it was practical.. Israel could have replaced long ago Gazprom at least southern supplies,since they also discovered/stole Gas.. from Palestinians. Syria also discovered Gas on its
    coast.. Lybia is no longer a country ,, So the discovery of this gas fields will be good for Egypt and perhaps Eni will receive a commission too for the discovery.. To counter Gazprom from middle east you need a pipeline from Turkey to Europe.. is the only practical route ,if you want to export Gas from middle east.

    The only competition Russia Gazprom will face will come from a pipeline comming from
    Azerbaijan to the black sea ,but it will be a small competition..and IRAN sending gas to Europe through Turkey could be a strong competition if they get Americans to support their pipeline.
    Naturally Israel will not support this ,they will prefer their Gas. be sold to Europe.
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    Russian Oil and Gas Industry: News - Page 18 Empty Re: Russian Oil and Gas Industry: News

    Post  Vann7 on Tue Sep 01, 2015 11:51 am



    In other news.. anyone know why Russia instead of Southstream or Turkstream to
    bypass Ukraine.. why Russia do not use Belarus? Belarus have said they can build more
    pipelines and be used its territory to bypass Ukraine... this according to people on the subject.

    It looks like Russia have found a dead end on its negotiations with Turkey for the Turkish stream
    pipeline to Europe over a disagreement on price ..

    http://russia-insider.com/en/politics/can-south-stream-make-comeback/ri9441

    It seems that Turkey is trying to take advantage of Russia economic situation and get a killer
    discount /deal for them that is not profitable for Russia. and according to the report above..
    Russia earlier THIS WEEK.. Suggested almost confirmed ,that they will be working with Bulgaria
    and with the revival of South Stream. the problem however will continue to be Brussels blocking it. But Belarus apparently have also shown interest to be used its territory to bypass Ukraine..

    have anyone seen Russia having problems with Belarus over gas transit that cross its territory?
    Or maybe is Russia afraid of a color revolution there too? Or maybe is the the South stream
    pipeline through the black sea not only allows Russia to bypass Ukraine but also supply more European countries with Natural Gas.. in southern Europe.. and the possibility to extend the pipelines all the way to italy and or Spain.

    Anyone knows why Belarus was not part of the alternative of Ukraine for Russian pipelines?





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    Russian Oil and Gas Industry: News - Page 18 Empty Re: Russian Oil and Gas Industry: News

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