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    Russian Oil and Gas Industry: News

    Odin of Ossetia
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    Post  Odin of Ossetia on Sat May 04, 2019 7:30 am





    Contaminants Found in Imported Russian Oil in Central Europe.

    https://www.reuters.com/article/us-russia-oil-poland-idUSKCN1S810D?utm_source=reddit.com


    Germany, Poland, Slovakia, Ukraine, and other countries halted oil imports from Russia via a pipeline.



    Is this for real, or a fabricated excuse to cease importing of the Russian oil?

    Question
    JohninMK
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    Post  JohninMK on Sun May 05, 2019 3:17 am

    Odin of Ossetia wrote:



    Contaminants Found in Imported Russian Oil in Central Europe.

    https://www.reuters.com/article/us-russia-oil-poland-idUSKCN1S810D?utm_source=reddit.com


    Germany, Poland, Slovakia, Ukraine, and other countries halted oil imports from Russia via a pipeline.



    Is this for real, or a fabricated excuse to cease importing of the Russian oil?

    Question
    Economically this is a very important pipeline that has been running for decades, seems unlikely these countries would want it to stop. Sabotage en route?
    auslander
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    Post  auslander on Mon May 06, 2019 3:05 am

    Apparently it was the one which supplies orcland with 'not Russian' gas. Perhaps a gentle hint to the orcs, and their masters The Land of the Poles, that things can change instantly? First rumors were the line would be down for two months while the 'contamination' was found and rectified and the pipes cleaned. Now, after less than a week, they are back in action. And, VVP said publicly that if this line was a problem and down for 'a long time', orcland was shit out of luck 'cause it was the only one that feeds them the 'not Russian' gas.
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    Karl Haushofer

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    Post  Karl Haushofer on Tue May 14, 2019 5:42 pm

    A major new oil discovery in Russian arctic: https://thebarentsobserver.com/en/industry-and-energy/2019/05/artic-oil-field-could-be-russias-biggest-discovery-30-years#.XNKtqMPDhbQ.twitter

    George1
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    Post  George1 on Wed May 15, 2019 12:36 am

    Gazprom: 40 km left to complete Russian part of Nord Stream 2 pipeline

    The Nord Stream 2 project envisages the construction of two lines of a gas pipeline with total capacity of 55 bln cubic meters of gas per year, running from Russia to Europe across the Baltic Sea

    ST.PETERSBURG, May 14. /TASS/.

    About 40 km are still to be built to complete the Russian part of the Nord Stream 2 gas pipeline, Deputy Chairman of the Board of Gazprom Vitaly Markelov told at a press conference.

    "Of the 880 km of the Gryazovets-Slavyanskaya gas pipeline, we have only 40 km left for welding and assembly work," he said.

    As part of the construction of the pipeline for deliveries to Nord Stream 2, it was planned to lay two strings of the main gas pipeline with the diameter of 1,400 mm at the section "km 538 - km 852.7" and four strings with the diameter of 800 mm in the section "km 852.7 - km 859.5 "(from the Slavyanskaya compressor station to the coastline).

    The Nord Stream 2 project envisages the construction of two lines of a gas pipeline with total capacity of 55 bln cubic meters of gas per year, running from Russia to Europe across the Baltic Sea. The 9.5 bln euro ($11 bln) project is expected to start operations before late 2019.

    Gazprom’s European partners in the project are Wintershall, Uniper, OMV, Engie and Royal Dutch Shell. They are to finance 50% of the project.


    More:
    http://tass.com/economy/1058150
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    owais.usmani

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    Post  owais.usmani on Fri May 24, 2019 2:07 pm

    Novatek announces 3rd LNG project in Arctic


    As if in a great rush to develop its Arctic resources, Russian natural gas company Novatek this week made clear that it is starting the development of a third LNG project in the Yamal region.

    The Ob LNG will be based on the resources of the Verkhnetiuteyskoye and Zapadno-Seyakhinskoye fields, two structures located in the central part of the Yamal Peninsula. The fields hold a total of 157 billion cubic meters of natural gas and the projected new plant will produce up to 4,8 million tons of LNG per year.

    The plant and adjacent infrastructure will cost $5 billion and is to come in operation in year 2023, newspaper Kommersant reports with reference to a high-ranking representative of Novatek.

    The development of the Ob LNG will run parallel to the Arctic LNG 2, the company’s far bigger project currently under development on the nearby Gydan Peninsula. The Arctic LNG 2 will produce up to 19,8 million tons, and the first of the projected three trains is to be ready by year 2023.

    The announcement of the Ob LNG comes a the same time as Novatek signs a major contract with UK-based TechnipFMC on engineering and construction of the Arctic LNG 2.

    Novatek’s first Arctic project, the Yamal LNG, is already operating at full speed, which means an annual production of up to 16,5 million tons.

    Unlike the two other projects, the Ob LNG will be build exclusively with Russian-made technology. This will be up twice as cheap as with foreign technology, Kommersant writes.

    The new plant will be built in Sabetta, near the installations serving the Yamal LNG. A pipeline will connect the plant with the two gas fields, and the Sabetta sea terminal will provide a route for exports.

    https://thebarentsobserver.com/en/industry-and-energy/2019/05/novatek-announces-3rd-lng-project-arctic
    kvs
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    Post  kvs on Fri May 24, 2019 2:20 pm

    owais.usmani wrote:

    Novatek announces 3rd LNG project in Arctic



    As if in a great rush to develop its Arctic resources, Russian natural gas company Novatek this week made clear that it is starting the development of a third LNG project in the Yamal region.

    The Ob LNG will be based on the resources of the Verkhnetiuteyskoye and Zapadno-Seyakhinskoye fields, two structures located in the central part of the Yamal Peninsula. The fields hold a total of 157 billion cubic meters of natural gas and the projected new plant will produce up to 4,8 million tons of LNG per year.

    The plant and adjacent infrastructure will cost $5 billion and is to come in operation in year 2023, newspaper Kommersant reports with reference to a high-ranking representative of Novatek.

    The development of the Ob LNG will run parallel to the Arctic LNG 2, the company’s far bigger project currently under development on the nearby Gydan Peninsula. The Arctic LNG 2 will produce up to 19,8 million tons, and the first of the projected three trains is to be ready by year 2023.

    The announcement of the Ob LNG comes a the same time as Novatek signs a major contract with UK-based TechnipFMC on engineering and construction of the Arctic LNG 2.

    Novatek’s first Arctic project, the Yamal LNG, is already operating at full speed, which means an annual production of up to 16,5 million tons.

    Unlike the two other projects, the Ob LNG will be build exclusively with Russian-made technology. This will be up twice as cheap as with foreign technology, Kommersant writes.

    The new plant will be built in Sabetta, near the installations serving the Yamal LNG. A pipeline will connect the plant with the two gas fields, and the Sabetta sea terminal will provide a route for exports.

    https://thebarentsobserver.com/en/industry-and-energy/2019/05/novatek-announces-3rd-lng-project-arctic

    An example where the "wooden ruble" generates real economic activity instead of being a "fail". The under-pricing of the ruble on the currency markets due
    to moronic western MSM driven narratives about how Russia is a resource exporting banana republic (BTW, it's not since there would be a massive amount
    of imports of processed goods which simply is not the case) is giving Russia a large export stimulus and domestic processed goods production boost.

    Please, more "wooden ruble" exchange rates. They are better than any tariff by far.

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    owais.usmani

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    Post  owais.usmani on Mon May 27, 2019 2:21 am

    https://www.neweurope.eu/article/us-sanctions-may-be-too-late-to-stop-nord-stream-2-construction/

    US sanctions against the controversial Nord Stream-2 pipeline from Russia to Germany are unlikely stop the project’s construction but may prevent Russian gas monopoly Gazprom from using the pipeline at full capacity in the future, Alexei Kokin, a senior oil and gas analyst at UralSib Financial Corp in Moscow, told New Europe on 23 May.

    US Energy Secretary Rick Perry said on 21 May that a sanctions bill putting restrictions on companies involved in the Nord Stream-2 project would come in the “not too distant future”. “The opposition to Nord Stream-2 is still very much alive and well in the United States,” Reuters quoted Perry as telling a briefing on a visit to Kyiv for the inauguration of President Volodymyr Zelensky.

    “The United States Senate is going to pass a bill, the House is going to approve it, and it’s going to go to the President and he’s going to sign it, that is going to put sanctions on Nord Stream-2,” Perry added.

    Reacting on the threat of sanctions against Nord Stream-2, a European Commission spokeswoman told New Europe on 24 May, “We have no comment to make to these comments.”

    Meanwhile, Reuters quoted a German Economy Ministry spokeswoman as saying on 22 May Berlin has taken note of the threat of US sanctions being placed on Nord Stream-2 but rejected sanctions that have extraterritorial effect.

    Nord Stream-2 EU Representative Sebastian Sass stressed that the project is being implemented based on a comprehensive legal framework of permitting procedures and following clearly defined legal requirements. “We are of course monitoring these developments and political statements that you refer to, but I am not in the position to speculate about them,” he told New Europe. “Our investors are committed to the project almost all of our project’s CAPEX (capital expenditure) has been contracted,” he added.

    The US, Ukraine and a number of European states are opposing the Nord Stream-2 pipeline, arguing that the Moscow-backed project would increase the EU’s reliance on Russian gas and reduce that transit of gas via Ukraine.

    But Kokin argued that Nord Stream-2 construction couldn’t be halted. “They (the sanctions) probably won’t affect the construction but judging by the experience of the first stage they might affect the utilisation rights in the future if for some reason Gazprom is unable to use the new pipeline 100% then that could happen,” he said. “It’s more likely than not to be built, to be physically completed but whether it’s going to be used to the full capacity is a different question,” Kokin added.

    The UralSib oil and gas analyst said there is more than one direction the sanctions are taking. “I think it’s more likely that the straightforward sanctions will have zero impact, will have no impact, but it’s possible that some of the European countries, Poland for instance, could be able eventually to block the new project from working at full capacity. That’s a bit of a different approach. It doesn’t mean that the United States will be able to do this directly,” Kokin said. “It’s more of an indirect obstacle to the project, but to me is a bigger potential problem that I think will be resolved over time. But, if you are talking about basically any threats by the United States to sanction individual contractors, I don’t think they will be very effective. I think it’s a bit too late at this stage to have much practical impact on the construction itself,” he added.

    Kokin acknowledged US sanctions against European companies that have done nothing to slow Nord Stream’s progress could hurt the companies’ US interests. “It could be a risk. I’m not saying it’s not a risk but my own feeling is that at this stage, the construction stage, the risks of no completion to Gazprom are not as high,” he said.

    He argued that Washington in the future would be focusing not so much in physically obstructing the construction of Nord Stream-2 as preventing the pipeline’s utilisation at full capacity.

    “Obviously there are a number of issues involved which basically have to do with competition among various suppliers of gas to the European Union that could be raised by EU member countries in opposition to this project being able to use internal European Union pipelines,” he said, adding. “This is a more systemic approach that could be used against Gazprom.”
    kvs
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    Post  kvs on Mon May 27, 2019 4:10 am

    The EU is going to have to choose between being Uncle Scumbag's $2 whore and its real economic interests. The EU economy
    is no small potatoes that the USA can dictate absolute conditions. The EU can damage America's GDP substantially with its
    own sanctions. America's wannabe imperialist, extra-territorial attempts of control can be dismissed outright. Let's see
    Uncle Scumbag "bring it". American is not position to sanction the EU even it acts as if it can.

    Germany is already giving Uncle Scumbag the middle finger. The more that this megalomaniac retard makes threats, the less
    respect and authority he will have.

    GarryB
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    Post  GarryB on Mon May 27, 2019 1:34 pm

    What the Russians should do is cancel the project completely... seal the pipes going through the Ukraine so the only gas in them comes from Europe and pipe the only Russian gas going into Europe through Turkey.

    Then set up some LNG plants and say to Europe... OK... we have cut off your dependence on Russia for gas supplies... what do you mean you need much more volume than can be sent by South Stream... you need much much more energy... OK, our LNG is still cheaper than American LNG so you can order it by the boat load to meet your needs... it will end up costing you much much more and guess what... we are going to deliver it to a few countries in the EU that have been consistently positive to us like Greece and Italy and Germany can buy its gas from them... hell if you want to you can have gas pipelines from there around Europe but we wont be delivering gas to any country that got in the way of our gas pipelines... except with a 500% tariff on it... So you know who you are... if you need our gas... those are our terms.

    BTW sales of gas to Asia are really going well... we are selling it rather cheaply but they are a good customer that don't impose sanctions on us so we give them a good deal... see how that works you bunch of ungrateful censored .

    At the end of the day Europe needs more gas... and it needs more gas than the US can actually supply... cutting them off will reduce income for a little bit, but liquification plants makes it more expensive but that is recovered when you sell it at the higher price... if the EU wants to let the US bully it into more expensive energy costs then why should Russia care?
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    Post  owais.usmani on Wed Jun 12, 2019 4:28 pm

    https://sdelanounas.ru/blogs/120904/

    Oil was extracted for the first time at the Vyngapurovskoye field in Yamal, which was discovered by artificial intelligence after digital processing of geological data.
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    Post  owais.usmani on Sun Jun 16, 2019 4:40 am

    https://www.enisey.tv/news/post-15752/

    Drilling of one of Russia's largest oil fields began on Taimyr
    George1
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    Post  George1 on Mon Jun 17, 2019 12:08 pm

    No legal grounds to suspend Nord Stream-2 construction - Russian senior security official


    The gas pipeline fully complies with international maritime and environmental laws and the Third Energy Package, Deputy Secretary of the Russian Security Council Alexander Venediktov stressed

    MOSCOW, June 15. /TASS/. There are no legal grounds to suspend or stop Nord Stream-2 construction, the project’s opponents are using unlawful means, Deputy Secretary of the Russian Security Council Alexander Venediktov said in an interview with the Rossiiskaya Gazeta daily on Sunday, commenting on US Energy Secretary Rick Perry’s statement on a new sanction-imposing law geared against the gas pipeline.

    "The US secretary’s statement is not the first one in a row of demarches against our project. But there are absolutely no legal grounds to suspend or stop the project. It fully complies with international maritime and environmental laws, the Third Energy Package, Finland’s, Sweden’s, Denmark’s and Germany’s laws. The project’s opponents are fully aware of that and resort to instruments outside the legal framework, use illegal tools that are not merely geared against the Russian pipeline but also threaten the global economy," he stressed.

    He stressed that Russia’s partners under the project are interested in its soonest implementation. This interest, in his words, is purely economic as is motivation of the project’s opponents.

    "The perspective of having a strong rival on the gas market is scaring big energy corporations, the more so as liquefied gas they offer as an alternative to our pipeline gas costs by about 30% higher. No wonder in such an unfavorable environment any argument against the competitor would do," he said.

    US Energy Secretary Rick Perry said in Kiev in May Washington planned to impose sanctions against the Nord Stream-2 project. A spokesman for Germany’s ministry of economy and energy said in turn that his country’s government had took notice of the US side’s statements but was against restrictions which could have extraterritorial impacts. Rainer Seele, CEO of Austria’s oil giant OMV, accused the United States of seeking to dictate an energy policy to the European Union and called on Brussels to protect all companies that could face Washington’s sanctions for their participation in the Nord Stream-2 construction.

    Driven by geopolitical considerations, Washington openly opposes the construction of the Nord Stream-2 gas pipeline and is taking effort to block this project. Experts say this way the United States is seeking to push supplies of its liquefied gas to the European market, although it is much more costly than Russia’s. The 2017 Countering America’s Adversaries Through Sanctions Act (CAATSA) envisages a possibility of using unilateral restrictions against companies participating in the implementation of the Nord Stream-2 project.

    Nord Stream-2 is an international project for the construction of a gas pipeline that will run across the bottom of the Baltic Sea from the Russian coast to Germany bypassing transit states, such as Ukraine, Belarus, Poland and other Eastern European and Baltic countries.

    The new 1,200 kilometer pipeline, basically following the same route as Nord Stream, will traverse economic zones and territorial water of five countries, namely Russia, Finland, Sweden, Denmark, and Germany. The pipeline’s capacity will be 55 billion cubic meters of gas a year and it is planned to be commissioned in late 2019.

    Nord Stream 2 AG is the operator of the pipeline construction. Its sole stakeholder is Russia’s Gazprom. Gazprom’s European project partners are Germany’s Uniper and Wintershall, Austria’s OMV, France’s Engie, and Royal Dutch Shell (the UK and the Netherlands) that are to finance 50% of the project, which is estimated at 9.5 billion euro.

    https://tass.com/economy/1064049
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    owais.usmani

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    Post  owais.usmani on Mon Jun 17, 2019 11:28 pm

    https://www.reuters.com/article/us-russia-oil-shale-gazpromneft/gazprom-neft-says-bazhenov-shale-oil-output-to-reach-viability-by-2022-2023-idUSKCN1TI0MQ

    ST PETERSBURG (Reuters) - Russia’s Gazprom Neft expects lifting costs at Bazhenov formation, the world’s largest shale oil resource, to gradually fall and reach an acceptable level for viable production by 2022-2023, a top company official said on Thursday.

    Russia sits on huge reserves of shale oil, which needs more investments for developments than the conventional oil. Unlike the United States, it lacks technology and funds to produce shale oil in large volumes.

    The break-even lifting costs for shale oil production at the formation stand at 8,500 rubles ($132) per tonne, Alexei Vashkevich, head of geological exploration and resource base development at Gazprom Neft, told reporters.

    “We are ready to get that number in 2022-2023,” he said in comments, cleared for publication on Monday.

    He said the company had been working to raise its effectiveness, including via implementation of state-of-the-art technologies.

    The company plans to start commercial production of oil from Bazhenov formation in 2025, Vashkevich reiterated.

    The International Energy Agency describes Bazhenov as the world’s largest source rock, a bed of ancient organic matter dating back to the Jurassic period which has given rise to most of the crude oil pumped from the fields of West Siberia.

    Gazprom Neft estimates that the reserves of the light, low-sulphur and of low-viscosity Bazhenov formation stand at between 18 billion and 60 billion tonnes.
    Hole
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    Post  Hole on Mon Jun 17, 2019 11:33 pm

    Sure, a country that develops deep-diving subs and hypersonic missiles doesn´t have the "technology" to pump some toxic chemicals into the ground. Mad Rolling Eyes
    kvs
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    Post  kvs on Tue Jun 18, 2019 5:50 am

    Reuters engaging in its usual anti-Russian Goebbelsian propaganda. Repeat enough times that "Russia does not have the technology"
    and you get this lie becoming a self-evident "truth".

    Russian researchers have been publishing world class articles on fracking for decades. Gazprom is already using fracking:

    https://www.gazprom-neft.com/press-center/news/1117675/

    miketheterrible
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    Post  miketheterrible on Tue Jun 18, 2019 5:56 am

    kvs wrote:Reuters engaging in its usual anti-Russian Goebbelsian propaganda.   Repeat enough times that "Russia does not have the technology"
    and you get this lie becoming a self-evident "truth".

    Russian researchers have been publishing world class articles on fracking for decades.  Gazprom is already using fracking:

    https://www.gazprom-neft.com/press-center/news/1117675/


    The lack of money part is funny too since it is Gazprom and others that fund it, not Russian state (which has a boatload of money as is) with Gazprom having revenue over $100B dollars and Novatek having over $10B in revenue, etc etc.

    They fund the development.

    If you add Rosneft to it if they ever do joint ventures, between the two, they have about as much money as the country of Pakistan.

    And as pointed out by KVS, Russia started its own fracking tech a year after sanctions started. Using local technologies. So yeah, there is nothing special about it.
    Rodion_Romanovic
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    Post  Rodion_Romanovic on Tue Jun 18, 2019 7:06 am

    owais.usmani wrote:

    ST PETERSBURG (Reuters) - Russia’s Gazprom Neft expects lifting costs at Bazhenov formation, the world’s largest shale oil resource, to gradually fall and reach an acceptable level for viable production by 2022-2023, a top company official said on Thursday.

    Russia sits on huge reserves of shale oil, which needs more investments for developments than the conventional oil. Unlike the United States, it lacks technology and funds to produce shale oil in large volumes.

    The break-even lifting costs for shale oil production at the formation stand at 8,500 rubles ($132) per tonne, Alexei Vashkevich, head of geological exploration and resource base development at Gazprom Neft, told reporters.

    “We are ready to get that number in 2022-2023,” he said in comments, cleared for publication on Monday.


    Considering that a tonne of crude oil correspond to more than 7 barrels, the breakeven lifting cost is less than 20$/barrel... with current oil prices it remains a huge margin for profits.
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    Post  owais.usmani on Wed Jun 19, 2019 5:56 pm

    https://thebarentsobserver.com/en/industry-and-energy/2019/06/oil-company-starts-drilling-shores-great-river-yenisey

    Operations are in the making at Payakha, the oil fields that could become among the biggest in the Arctic.
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    Post  owais.usmani on Wed Jun 19, 2019 7:28 pm

    https://www.ft.com/content/1f6ac3d6-861f-11e9-97ea-05ac2431f453


    Russia defies pipeline threats over gas for Europe



    In the extreme conditions of Russia’s far northern Yamal peninsula, 500km from the nearest town, thousands of workers are drilling 1.7km through permafrost for a contentious resource.

    The natural gas from Yamal’s Bovanenkovo field is intended to reach Europe via the Nord Stream 2 gas pipeline — a 1,230km project linking Russia to Germany under the Baltic Sea that has split Europe and sparked threats of sanctions from the US.

    Critics of the project, due to enter service this year, contend that it will keep Europe hooked on Russian gas and deprive Ukraine of billions of dollars earned from allowing gas across its territory. While the pipeline is more than half-built — with European companies’ financing half of the €9.5bn cost — it still faces pressure with Denmark delaying a permit to build in its waters. The European Commission has tightened its oversight.

    But from Yamal, the companies behind the project — led by Russia’s Gazprom — have a simple message: the abundant gas here will be coming to Europe whatever the obstacles thrown up by Brussels or Washington.

    “We will still produce and submit our gas into Russia’s Unified Gas System, which will then distribute it,” said Igor Melnikov, managing director at Gazprom Nadym Dobycha, the unit developing Bovanenkovo, 2,200km north of Moscow.

    “We see no option of halting production,” he said of a field that is costing Gazprom Rbs500bn ($7.6bn) to develop.

    Oleg Andreev, deputy head of the production department at Gazprom, said the company would seek other routes for the gas if NS2 were not ready in December — perhaps even via Ukraine. “Turning off the tap is not an issue,” he said. “In principle, there is demand for gas in Europe, and the demand is high, and all corridors can take the gas.”

    Gazprom is building Nord Stream 2 with five European partners: Germany’s Uniper and Wintershall, Engie of France, Anglo-Dutch Shell and Austria’s OMV. Some 670 companies from 25 countries are involved in the construction.

    Gazprom and Germany, the project’s main EU supporter, maintain that Nord Stream 2 is needed to replace Europe’s declining gas supplies. European gas demand is expected to reach 564bn cubic metres in 2020 and 618bn cu m in 2030, according to the Oxford Institute for Energy Studies.

    Russia, which supplies one-third of EU needs, has gas to spare. The Bovanenkovo field alone is expected to produce 95bn cubic metres this year, up 9 per cent on the year, before stabilising output at 115bn cu m per year as of 2020, according to Mr Melnikov.

    The US has threatened to impose undefined sanctions on companies involved in the project. “Russia wants Nord Stream 2 to use energy as a leverage over Europe. We shouldn’t allow it to proceed,” Mike Pompeo, US secretary of state, said in May.

    Moscow contends that US hostility is motivated by a desire to hurt Russian business interests and stimulate American LNG exports into Europe.

    “If it wasn’t in line with their interests, we would never see European partners in it. Who could force them into it? They entered because they are interested in implementing this project,” Russia’s president Vladimir Putin said of Nord Stream 2 this month. “But it does not follow the logic and interests of those who within the existing universal model got used to exclusiveness and lawlessness, and to others paying their bills. That is why the project is constantly being torpedoed.”

    Henning Kothe, chief project officer of Nord Stream 2, told the FT that no contractor had quit because of sanctions risk. “We do not expect that any sanctions will be imposed,” he said.

    Another risk arises from the permits needed to finish construction. The project has yet to obtain a key approval from Denmark. The Danish Energy Agency, which has to process the application, said it “cannot say when a permit can be granted”.

    Further delays could create more scope for legislative risks, said Mitch Jennings, Moscow-based analyst at Sova research.

    “A limitation on capacity for Nord Stream 2 upon its launch is not out of the realm of possibility, given the recent changes to the gas directive by the EU,” he said.

    The proposed EU gas directive, expected to go into effect next month, foresees that at least 10 per cent of the German part of the pipeline capacity should be available for third-party access, as well as setting tariff and ownership rules.

    Dmitry Khandoga, deputy head at Gazprom’s macroeconomics department, said the company was not yet concerned by the delay in Denmark. The required 140km of pipeline could take under a month to build at current rates of 8km per day, he said.

    If Nord Stream 2 is finished this year, it could carry some of the gas now running via a longer route through Ukraine. The country’s gas transit contract with Russia expires on December 31 and will have to be renewed.

    But if the new Baltic link does not open on time, Mr Kothe said Europe might need to import more LNG. That would cost between €8bn and €24bn more depending on the LNG price, he said.

    Annette Berkhahn Blyhammar, a Stockholm-based energy and utilities adviser at Arthur D Little, a consultancy, said: “Nord Stream 2 is significant from the market perspective in that it brings another opportunity to transport gas from Russia to Europe. If you take that away, costs will rise.”

    The abundance of gas in Yamal — which has fields with combined production prospects of 360bn cu m per year — and Europe’s growing demand, is already raising questions over potential need for a “Nord Stream 3”.

    “Gazprom is ready to develop even further infrastructure if needed, if the demand is there,” Mr Khandoga said. “Of course with this project we see some reluctance from the European policymakers. Therefore if any Nord Stream 3 is needed, I think Gazprom will find partners to build it. We definitely have the resources to utilise it.”
    kvs
    kvs

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    Post  kvs on Thu Jun 20, 2019 2:00 am

    America is posturing like some retarded twat that it supposedly has enough natural gas to supply the EU. This is utter
    BS. It imports 80 billion cubic meters from Canada. It exports a substantial amount to Mexico. It has nowhere near
    150 bcm export capacity to service the EU instead of Russia. Meanwhile Russia has new projects coming on stream
    with 360 bcm per year.

    This actually one of the reasons that yanqui scum are saber rattling about shipping through Russia's territorial and
    EEZ waters in the Arctic. F*ckwit yanquis think they can control the flow of Russian gas out of the Yamal.

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    Mindstorm

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    Post  Mindstorm on Thu Jun 20, 2019 10:58 pm

    kvs wrote:Reuters engaging in its usual anti-Russian Goebbelsian propaganda.   Repeat enough times that "Russia does not have the technology"
    and you get this lie becoming a self-evident "truth".

    Russian researchers have been publishing world class articles on fracking for decades. Gazprom is already using fracking:

    https://www.gazprom-neft.com/press-center/news/1117675/


    Yes kvs ,those immense idiocies appear even more self-embarrassing because like for the technology for compute and manage RCS of finite surface objects, also in that instance the scientifical theoretical basis, hydraulic fracking technology now utilized in the USA was entirely developed in the СССР and literally adopted in the american industry.

    https://glavportal.com/materials/neftedobycha-po-novomu/

    https://stimul.online/articles/interview/skvazhiny-zhdut-intellekta/


    Those are the miracles (or, without theirony : mean ,low level state's propaganda) of the nation that proclaim, at words, itself as "leading" the world in Hypersonics and High Coherent Beams technology, while being in the material reality more than a decade behind its main competitors.

    Simply pathetic......
    kvs
    kvs

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    Post  kvs on Thu Jun 20, 2019 11:23 pm

    Mindstorm wrote:
    kvs wrote:Reuters engaging in its usual anti-Russian Goebbelsian propaganda.   Repeat enough times that "Russia does not have the technology"
    and you get this lie becoming a self-evident "truth".

    Russian researchers have been publishing world class articles on fracking for decades. Gazprom is already using fracking:

    https://www.gazprom-neft.com/press-center/news/1117675/


    Yes kvs ,those immense idiocies appear even more self-embarrassing because like for the technology for compute and manage RCS of finite surface objects, also in that instance the scientifical theoretical basis, hydraulic fracking technology now utilized in the USA was entirely developed in the СССР and literally adopted in the american industry.

    https://glavportal.com/materials/neftedobycha-po-novomu/

    https://stimul.online/articles/interview/skvazhiny-zhdut-intellekta/


    Those are the miracles (or, without theirony : mean ,low level state's propaganda) of the nation that proclaim, at words, itself as "leading" the world in Hypersonics and High Coherent Beams technology, while being in the material reality more than a decade behind its main competitors.

    Simply pathetic......

    Indeed.

    Thanks for the links. Sounds like Russia could actually succeed in with in situ kerogen conversion to oil via thermo-chemical
    processes. Western efforts to achieve this have been failures.
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    owais.usmani

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    Post  owais.usmani on Mon Jun 24, 2019 10:09 pm

    https://oilprice.com/Energy/Natural-Gas/A-Watershed-Moment-For-Gazprom.html


    A Watershed Moment For Gazprom




    In Russia, oil stands for money and gas for power. The extensive pipeline infrastructure connecting gas fields in Siberia with consumers in primarily Europe has been the source of interdependency and relative political power. In this context, no company is more powerful and essential than Gazprom, which is sometimes referred to as “a state within a state”. It also means, however, that the energy giant is no ordinary company as it has to deal with different KPIs than its peers.

    Gazprom controls some of the world’s largest gas fields which dwarf the assets of competitors. The seemingly unlimited production capacity is the source of the energy company’s power and influence. Gazprom’s 10 percent share of the Russian economy is a token of its importance for the country’s economy. Furthermore, the company’s activities make up the bulk of Russia’s total fixed investments.

    Before the financial crisis of 2007-2008, Gazprom’s market value stood at $360 billion. The company’s management even promised to raise the valuation to $1 trillion. Instead, things went from bad to worse, and share prices fell to a mere fraction of their previous value. The energy giant had lost approximately $300 billion of its value by 2015 when market capitalization stood at $51 billion.

    Gazprom stocks, however, soared to unseen heights last month, rising 30 percent as the gas major decided to double its dividend to 16.6 rubles from 8 rubles previously. According to several sources, the Russian Finance Ministry has been pushing state-owned enterprises (SOE) such as Sberbank, VTB, Gazprom, and Rosneft to increase the pay-out ratio to at least 50 percent. This, in turn, raised investors’ profitability expectations.

    Gazprom was rewarded with a sharp rise of its valuation by almost $25 billion to $71.4 billion within a couple of days. At the end of May, the company’s share value had risen sufficiently to break through the $75 billion mark for the first time in years. Gazprom’s performance had been lagging behind most SOEs in 2018, which the management ascribed to the company’s substantial investments in new pipeline infrastructure for markets in Europe and Asia. The Kremlin, however, seems to be losing its patience
    when it comes to improving the efficiency and performance of the energy giant.

    The Kremlin has launched 12 national projects to reinvigorate the Russian economy. One of the stated goals is to improve the efficiency of SOEs. An earnest effort has been made to curb spending on tenders and procurements, including the massive investment programs for the expansion of pipeline infrastructure to China and Europe. One of the measures to keep spending in control is organizing all projects under a single contractor, Gazstroyprom.

    According to the World Bank, Gazprom is the most unproductive company in Russia. After the collapse of the Soviet Union, the company suffered from mismanagement and corruption. One of Putin's first battles was to reform the company and change the management. However, in recent months, it seems that the current leadership is at risk of being sacked. Since February, three high-ranking employees have left the company.

    According to specific sources, CEO Alexei Miller is also under threat of being sacked. His departure could be one of the reasons for investors’ believe that the current drive for efficiency is a firm intention to reform.

    The Kremlin’s push for sustained profitability is music in the ears of private investors. The end of 2019 and the beginning of 2020 could be a watershed moment for the company as the construction Nord Stream 2, Turk Stream, and Power of Siberia near their end. It would benefit Gazprom’s position in two ways: sales should improve due to additional export capacity and the completion of the projects will reduce the financial burden concerning investments. Therefore, it seems likely that the company’s profitability will significantly rise in the next couple of years. The Kremlin’s intention seems to cash in after a long period of significant spending and infrastructure expansion. Furthermore, improving Gazprom’s efficiency and effectiveness should boost the company’s public standing and credibility.
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    Post  owais.usmani on Mon Jun 24, 2019 10:11 pm

    https://thebarentsobserver.com/en/industry-and-energy/2019/06/no-more-shtokman-development

    No more Shtokman Development




    For years, the Shtokman field was on everybody’s lips and the biggest energy companies in the world were eager to get a share. The field located in the central part of the Barents holds almost 4 trillion cubic meters of natural gas and is considered among the biggest offshore structures in the world. Developers planned a massive production of LNG and conventional gas.

    Regional authorities in Murmansk, as well as in neighboring Norway, were preparing for a boom as big petro-money was on its way

    Then, everything changed and license holder Gazprom ultimately announced in 2012 that it was postponing the project indefinitely «until better times». The expansion of shale gas and the lower prices had quickly changed the international energy markets.

    Norway’s Statoil (now Equinor), and later also French company Total, abandoned the project.

    However, it would take another 7 years before Gazprom closed down the Shtokman Development AG, the a subsidiary unit that was to develop the great Arctic field. The company, now a 100 percent subsidiary of Gazprom, was registered in Zug, the Switzerland.

    This month, federal authorities reportedly approved the abolishment of the company. According to Interfax and Finmarket.ru, it was Deputy Prime Minister Dmitry Kozak that signed the document. The Gazprom-subsidiary has the last years been headed by Pavel Oderov, the president of the board of directors.

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