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    Russian Oil and Gas Industry: News

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    Project Canada


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    Russian Oil and Gas Industry: News - Page 27 Empty Re: Russian Oil and Gas Industry: News

    Post  Project Canada Fri Aug 19, 2016 4:21 pm


    Ukrops say construction of Nord 2 cannot proceed Without their Permission Laughing



    https://topwar.ru/99515-kiev-obyavil-chto-stroitelstvo-severnogo-potoka-2-bez-ego-razresheniya-nevozmozhno.html
    George1
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    Post  George1 Sat Aug 20, 2016 4:56 pm

    Nord Stream-2 implemented as planned — Gazprom's deputy head

    Earlier, Poland said a joint venture may limit competition, claiming it would be a red light for establishment of a joint venture

    MOSCOW, August 20. /TASS/. The Nord Stream-2 construction project is being implemented as planned, and Gazprom’s foreign counterparts consider options to participate in its financing, Gazprom’s Deputy CEO Alexander Medvedev told TASS on Saturday.

    Earlier, Poland said a joint venture may limit competition, claiming it would be a red light for establishment of a joint venture.

    "There were no bans, and we answered the questions regarding the claims," Gazprom’s official said. "The decision was we shall not wait, judging by the moods. Thus the Nord Stream 2 company does exist, it works."

    This was his reply to a question about implementation of the project after the project counterparts withdrew the notification from the Polish regulator concerning establishment of a joint venture for the project.

    "How the foreign counterparts will participate - this is what they will decide themselves," the official continued. "They will be searching for options to join the project. We move forward according to the plan. Our counterparts are sharing our vision."

    Gazprom and its European partners Engie, OMV, Shell, Uniper and Wintershall submitted earlier an application for establishment of the joint venture to antimonopoly regulators in Germany and Poland. Germany approved the decision but the Polish regulator presented objections.

    Companies later withdrew their application for the joint venture under the Nord Stream-2 furnished to the Poland’s authority.

    The Nord Stream-2 project includes the construction of two lines of the offshore gas pipeline with a total capacity of 55 bln cubic meters of gas a year from Russia to Germany under the Baltic Sea, in addition to the existing two lines. The project is to be implemented by the new engineering company New European Pipeline AG. The stakes of partners in Nord Stream 2 AG will be distributed as follows: Gazprom will hold 50%, while Uniper, BASF/Wintershall, Shell, OMV and ENGIE will own 10% each.


    More:
    http://tass.com/economy/895169
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    Austin


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    Russian Oil and Gas Industry: News - Page 27 Empty Re: Russian Oil and Gas Industry: News

    Post  Austin Wed Aug 31, 2016 11:46 am

    Gazprom: Western Route gas contract with China depends on volumes

    https://in.rbth.com/news/2016/08/30/gazprom-western-route-gas-contract-with-china-depends-on-volumes_625483

    Gazprom positively assesses progress in negotiations on the "Western Route" gas supply contract with China. Document signing depends on volumes, rather than on the price, Deputy Chief Executive of the Russian holding Alexander Medvedev told TASS on Tuesday.

    "The process is underway; working groups are meeting. The issue is regarding volumes and not the price. I believe negotiations are at an advanced stage. Prospects are good," Medvedev said.

    Gazprom and China’s CNPC signed heads of the agreement on pipeline gas supplies to China over the "Western Route" (Power of Siberia-2 gas pipeline) in 2015. Deliveries of Russian gas to China over this route may start from May 2019 to May 2021, Chief Executive of Gazprom Alexei Miller said earlier.
    AlfaT8
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    Post  AlfaT8 Wed Aug 31, 2016 6:58 pm

    Russia Joins the Shale Game After Building Own Technology Thanks to Sanctions

    Russia has made yet another technological breakthrough thanks to the Western sanctions: it has developed its own technologies for the exploration and production of hard to extract shale oil. This advance is even more significant given that the sanctions have stopped Russian oil companies from using western equipment.

    http://sputniknews.com/russia/20160831/1044818976/russia-shale-oil-technology.html

    Guys, what are your opinions with respects to Russia's shale industry, considering the damage fracking does to the surrounding environment especially ground water pollution, is it wise for Russia to even pursue this.
    PapaDragon
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    Russian Oil and Gas Industry: News - Page 27 Empty Re: Russian Oil and Gas Industry: News

    Post  PapaDragon Wed Aug 31, 2016 8:58 pm

    AlfaT8 wrote:.................

    Guys, what are your opinions with respects to Russia's shale industry, considering the damage fracking does to the surrounding environment especially ground water pollution, is it wise for Russia to even pursue this.

    It's a good export \ backup option. And they have plenty of ''guinea pigs'' to get pollution data from.

    They may use it or not but it is certainly good thing to have options.
    kvs
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    Russian Oil and Gas Industry: News - Page 27 Empty Re: Russian Oil and Gas Industry: News

    Post  kvs Wed Aug 31, 2016 11:20 pm

    AlfaT8 wrote:
    Russia Joins the Shale Game After Building Own Technology Thanks to Sanctions

    Russia has made yet another technological breakthrough thanks to the Western sanctions: it has developed its own technologies for the exploration and production of hard to extract shale oil. This advance is even more significant given that the sanctions have stopped Russian oil companies from using western equipment.

    http://sputniknews.com/russia/20160831/1044818976/russia-shale-oil-technology.html

    Guys, what are your opinions with respects to Russia's shale industry, considering the damage fracking does to the surrounding environment especially ground water pollution, is it wise for Russia to even pursue this.

    US fracking occurs in populated regions such as New York, Pennsylvania and West Virginia in the case of the Marcellus tight gas formation.

    Russian Oil and Gas Industry: News - Page 27 800px-Marcellus_Shale_Gas_Play

    But the Bazhenov formation is in a low population density region.

    Russian Oil and Gas Industry: News - Page 27 800px-USGS_-_Bazhenov_Formation_Oil_Reservoir
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    Austin


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    Post  Austin Mon Sep 05, 2016 11:56 am

    Putin Keeps Faith in Gazprom Even After 80 Percent Share Crash

    http://www.bloomberg.com/news/articles/2016-09-05/putin-keeps-faith-in-gazprom-even-after-80-percent-share-crash
    kvs
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    Post  kvs Mon Sep 12, 2016 11:47 pm

    Austin wrote:Putin Keeps Faith in Gazprom Even After 80 Percent Share Crash

    http://www.bloomberg.com/news/articles/2016-09-05/putin-keeps-faith-in-gazprom-even-after-80-percent-share-crash

    Gazprom is the biggest natural gas producer on the planet controlling proven reserves that are the biggest on the planet (no, Iran's
    are not bigger than Russia's). Gazprom's share price has been grossly undervalued and two bit outfits like Exxon-Mobil are somehow priced
    vastly higher even though they are literally nothing compared to Gazprom. Putin, Putin, Putin. Idiots who write such headlines
    loudly demonstrate their idiocy.

    http://news.exxonmobil.com/press-release/exxonmobil-announces-2015-reserves-additions

    Exxon-Mobil controls reserves of 24.8 billion oil-equivalent barrels with 59% of this being liquids. (Note that the percentage for
    liquids keeps increasing which indicates long term depletion of real oil assets).

    Gazprom controls 36 trillion cubic meters of natural gas reserves. In just energy terms we have:

    1 barrel of oil = 5,729,000 Btu
    1 cubic foot of natural gas = 1,032 Btu

    1 cubic meter = 35.3147 cubic feet

    so 1 cubic meter of natural gas is 36,445 Btu. Thus Gazprom owns 1.31 x 10^18 Btu (in gas alone) while Exxon-Mobil owns 1.42 x 10^17 Btu.
    Gazprom share price = 138.93 rubles. Exxon-Mobil share price = 87.29 US dollars. So a company with 10% the Btu reserves of Gazprom has
    a vastly higher share price. This demonstrates that share prices mean precisely fuck all.

    JohninMK
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    Post  JohninMK Wed Sep 14, 2016 10:29 pm

    What's the betting that at or near the pipe bend south, near Bulgaria, there will be an 'emergency' access point. Very Happy

    September 14, 2016 - Fort Russ News -
    - Interfax - translated by J. Arnoldski

    Through diplomatic channels, Gazprom has received the first permission from Turkish authorities to construct the offshore section of the Turkish Stream pipeline, the company’s report says.

    A week earlier, Gazprom reported that it had received the “first permits to realize Turkish Stream” but did not specify the documents. In December 2011, Turkey gave permission for the construction of South Stream in its territorial waters. On June 22nd, 2015, Turkey also gave permission for engineering surveys for Turkish Stream. Later, however, such permits were withdrawn due to the serious deterioration of Russian-Turkish relations. Thanks to the improvement of relations since summer this year, Gazprom has resumed active work on the Turkish Stream gas pipeline.

    Gazprom has now specified that it has received permission not just for surveying, but for the construction of the pipeline’s offshore section.

    Gazprom announced on Wednesday: “Through diplomatic channels, Gazprom has received the first permit from authorities of the Turkish Republic to construct the offshore section of the Turkish Stream gas pipeline as part of preparatory procedures for the resumption of the project.” “We would like to note the efficiency and coherence of work with our Turkish partners at the first stage of the Turkish Stream project’s realization,” Gazprom head Alexey Miller is quoted as saying in the report.


    Russian Oil and Gas Industry: News - Page 27 Turkish_stream_route_gazprom
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    Austin


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    Russian Oil and Gas Industry: News - Page 27 Empty Putin Keeps Faith in Gazprom Even After 80 Percent Share Crash

    Post  Austin Thu Sep 15, 2016 9:13 am

    kvs wrote:
    Austin wrote:Putin Keeps Faith in Gazprom Even After 80 Percent Share Crash

    http://www.bloomberg.com/news/articles/2016-09-05/putin-keeps-faith-in-gazprom-even-after-80-percent-share-crash

    Gazprom is the biggest natural gas producer on the planet controlling proven reserves that are the biggest on the planet (no, Iran's
    are not bigger than Russia's).  Gazprom's share price has been grossly undervalued and two bit outfits like Exxon-Mobil are somehow priced
    vastly higher even though they are literally nothing compared to Gazprom.   Putin, Putin, Putin.   Idiots who write such headlines
    loudly demonstrate their idiocy.

    http://news.exxonmobil.com/press-release/exxonmobil-announces-2015-reserves-additions

    Exxon-Mobil controls reserves of 24.8 billion oil-equivalent barrels with 59% of this being liquids.  (Note that the percentage for
    liquids keeps increasing which indicates long term depletion of real oil assets).  

    Gazprom controls 36 trillion cubic meters of natural gas reserves.    In just energy terms we have:

    1 barrel of oil = 5,729,000 Btu
    1 cubic foot of natural gas = 1,032 Btu

    1 cubic meter = 35.3147 cubic feet

    so 1 cubic meter of natural gas is 36,445 Btu.  Thus Gazprom owns 1.31 x 10^18 Btu (in gas alone) while Exxon-Mobil owns 1.42 x 10^17 Btu.
    Gazprom share price = 138.93 rubles.  Exxon-Mobil share price = 87.29 US dollars.   So a company with 10% the Btu reserves of Gazprom has
    a vastly higher share price.   This demonstrates that share prices mean precisely fuck all.


    Good Post.

    Share prices in US is unusually high because of QE and price of every asset is inflated many times over.

    Although Russian Share market is at all time high but that does not get reflected on some of the big players share value.
    George1
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    Post  George1 Thu Sep 29, 2016 3:25 am

    Rosneft plans to decide on Dalnevostochny LNG plant in 2017-2018

    More:
    http://tass.com/economy/902699?_ga=1.122805067.1337049799.1447427261


    Rosneft plans to increase production on Sakhalin to 3 mln tonnes in 2016

    More:
    http://tass.com/economy/902673?_ga=1.67361617.1337049799.1447427261
    PapaDragon
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    Post  PapaDragon Mon Oct 03, 2016 10:17 pm


    This article should be behind a paywall but thanks to busted flash plugin on my Ubuntu we get to read it scott free   thumbsup

    Also confirms what I said about Saudis being rogered. Someone could post bolded parts on The Other Place for sh*ts and giggles  Razz


    Don’t bet on Russia capping oil output

    Cost-efficient industry is coping well with weaker crude prices


    https://www.ft.com/content/8741742a-8643-11e6-8897-2359a58ac7a5


    In spite of the sharp fall in the price of oil since 2014, the Russian oil industry is healthy and production, confounding many predictions to the contrary, is growing steadily.

    Indeed, boosted by the launch of several greenfields this month, Russian oil output has gained around 200,000 barrel per day in September alone to a post-Soviet record of 11.18m barrels per day.

    Although this booming rate of output gains cannot be sustained; slow, steady production increases from these levels will remain the norm at least until 2020. So how is this dichotomy of rising production and sharply lower oil prices possible?

    First, Russian oil production is highly profitable on a pre-tax basis, much more so than is generally understood. Second, both the Russian oil tax regime and the rouble are highly geared to oil prices, cushioning wellhead margins and keeping overall well economics for producing companies surprisingly stable in almost any oil price environment.

    The precipitous fall in oil prices since mid-2014, from over $100 per barrel to just below $50 a barrel today, has resulted in a rapid reduction in investment in the global oil industry, which has naturally resulted in a significant reduction in field-level activity.

    Most visibly, the number of working US oil rigs has collapsed by about 75 per cent from the 2014 peak. Canada (-79 per cent), Latin America (-54 per cent), and the Asia-Pacific region (-32 per cent) also all saw significant drops in rig activity. Even in the Middle East, where Saudi Arabia is in the process of taking market share, the number of rigs in operation has fallen 12 per cent from 2014 peak levels.

    Russia, however, is clearly bucking this trend. Although upstream capital expenditure in the country has fallen in dollar terms, that has been entirely due to the sharp fall in the rouble. Drilling activity itself has actually risen by 25 per cent since 2014, driving a steady rise in Russian oil output even as the rest of the non-OPEC world sees various degrees of declines.

    This increase in oil production despite sharply lower oil prices has caught many observers by surprise. In December of 2014 Opec forecasted a small, 10,000 bpd production loss for Russia in 2015, while the International Energy Agency predicted a more significant 90,000 bpd fall. In reality Russian output went up by about 140,000 bpd.

    In December of 2015 Opec again predicted a decline in Russian output for 2016, this time of around 70,000 bpd, while the IEA anticipated “largely flat” output. In the event, Russian production broke through the 11m bpd level in early September, and with the launch of several new greenfield projects hit 11.18m bpd by September 20, the highest level since 1989 when Russia was still part of the Soviet Union. Looking forward, we expect Russian oil production to continue to climb, if less dramatically, for the medium term until hitting about 11.5m bpd in 2020.

    So how has Russian oil production been able to outperform the forecasts of knowledgeable observers, increasing production in spite of low oil prices?

    We see two general reasons: First, contrary to common misconception, Russia’s oil production is not a high-cost venture. Instead, the typical Russian barrel of oil resides far down the cost curve, generating economic value even at oil prices below $20 per barrel, although the bulk of that economic value goes to the Russian government via taxes, rather than to producers in the form of profit.

    Second, both Russia’s oil tax regime (explicitly) and the free-floating rouble (in effect) are tied to the price of oil. The combination of an automatically-adjusting tax burden and rouble work to act as a very effective cushioning mechanism for wellhead operating margins.

    The union of only modestly lower, and generally stable, wellhead margins and sharply lower upfront well costs has served to keep new well economics for producers surprisingly stable in almost any oil price environment for Russia’s oil companies. Indeed, we estimate that the returns of a standard vertical well in West Siberia today are the same or even higher than what would have been earned on that same well in June of 2014 when oil was around $112 a barrel.

    This somewhat counter-intuitive result — that field-level returns could be stable in spite of sharply lower oil prices — is probably what has caused otherwise knowledgeable observers to serially underestimate Russia’s production potential the last few years.

    So what does this imply for Russian oil production going forward?

    In short, with a stable return environment and substantial geological resources left to tap, we see Russian oil production continuing its slow climb for at least the next five years. While the increase in any given year is unlikely to be large enough to move the needle on global oil markets, neither can other global producers look to Russia for help in reining in output to boost the price of oil.
    zg18
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    Post  zg18 Sat Oct 08, 2016 3:51 am

    AlfaT8 wrote:
    Russia Joins the Shale Game After Building Own Technology Thanks to Sanctions

    Russia has made yet another technological breakthrough thanks to the Western sanctions: it has developed its own technologies for the exploration and production of hard to extract shale oil. This advance is even more significant given that the sanctions have stopped Russian oil companies from using western equipment.

    http://sputniknews.com/russia/20160831/1044818976/russia-shale-oil-technology.html

    Guys, what are your opinions with respects to Russia's shale industry, considering the damage fracking does to the surrounding environment especially ground water pollution, is it wise for Russia to even pursue this.


    Actually, Russia/USSR is/was pioneer in shale gas/oil extraction, the reason why never did go as far as Americans was simply bad economics of shale.
    zg18
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    Post  zg18 Sat Oct 08, 2016 3:57 am

    PapaDragon wrote:
    This article should be behind a paywall but thanks to busted flash plugin on my Ubuntu we get to read it scott free   thumbsup

    Also confirms what I said about Saudis being rogered. Someone could post bolded parts on The Other Place for sh*ts and giggles  Razz


    Don’t bet on Russia capping oil output

    Cost-efficient industry is coping well with weaker crude prices


    https://www.ft.com/content/8741742a-8643-11e6-8897-2359a58ac7a5

    Saudis made massive error when they listened to Kerry`s promises in 2014 to collapse oil price & de-facto destroy OPEC as a cartel, they are now forced to negotiate with Russia & Iran with their pants down.
    higurashihougi
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    Post  higurashihougi Wed Oct 26, 2016 3:53 pm

    Winter is comiiiiiiiiiiiiiiiiiiiiiinnnnnnnnnngggggg

    https://www.rt.com/business/364138-nord-stream-opal-russia-eu/

    Brussels has given the green light to Russia's Gazprom to pump more gas through the Opal pipeline, reports the Wall Street Journal. Opal is an important connection to Russia's Nord Stream pipeline to Germany and the Czech Republic.

    According to the media, under the agreement approved on Tuesday, Gazprom retains its 50 percent exclusive capacity, but will have to give up 10 to 20 percent of the remaining capacity to competitors. The remaining 30 to 40 percent will be available for auction, and Gazprom will be able to participate.
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    Post  Project Canada Wed Oct 26, 2016 5:20 pm

    higurashihougi wrote:Winter is comiiiiiiiiiiiiiiiiiiiiiinnnnnnnnnngggggg

    https://www.rt.com/business/364138-nord-stream-opal-russia-eu/

    Brussels has given the green light to Russia's Gazprom to pump more gas through the Opal pipeline, reports the Wall Street Journal. Opal is an important connection to Russia's Nord Stream pipeline to Germany and the Czech Republic.

    According to the media, under the agreement approved on Tuesday, Gazprom retains its 50 percent exclusive capacity, but will have to give up 10 to 20 percent of the remaining capacity to competitors. The remaining 30 to 40 percent will be available for auction, and Gazprom will be able to participate.

    I find it strange, from what I heard winter in Europe (western, central) is not as bad compared here in Canada, but everytime winter comes it sounds like too much of a big deal for them (like scrambling for energy / heat sources). I know someone who was from Kiev and said winters there on average is from Dec to Mar, much shorter than here in southern NB, and winters here are considered shorter than compared to lets Winnipeg. anyways, Canada seems to be coping fine, so i wonder why reports of approaching winter in Europe is kinda exaggerated? Just sharing my thoughts
    higurashihougi
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    Post  higurashihougi Thu Oct 27, 2016 1:35 pm

    Project Canada wrote:I find it strange, from what I heard winter in Europe (western, central) is not as bad compared here in Canada,  but everytime winter comes it sounds like too much of a big deal for them (like scrambling for energy / heat sources). I know someone who was from Kiev and said winters there on average is from Dec to Mar, much shorter than here in southern NB, and winters here are considered shorter than compared to lets Winnipeg. anyways, Canada seems to be coping fine, so i wonder why reports of approaching winter in Europe is kinda exaggerated? Just sharing my thoughts  

    I dunno much about Canada's energy industry, is Canada having a stable supply of oil/gas/alternative energy so that they don't have to worry much about winter ?
    GarryB
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    Post  GarryB Fri Oct 28, 2016 6:04 am

    With an aging population even here in New Zealand people will put the heater on if the temperature gets below 15 degrees C... if the central heating is gas powered or oil powered then you of course need a reliable supply.

    Most western countries have restrictions on the types of heating you have with the traditional log fire being often banned or restricted in use because of smoke pollution and the costs of electricity being high.

    Of course if global warming causes the gulf stream to change so warm water from the equator stops flowing up the atlantic near europe and, say, starts moving up the Pacific instead then Alaska or Japan might benefit from a much more mild climate and europe will get much colder.

    Sea currents have a lot to do with temperature on land... when the continent of Australia was further south and part of the continent of Antarctica the land mass reached from the south pole to near the equator. The sea flow around this land moved from polar areas to equatorial areas and the land mass had a moderate climate... the split and movement of australia north meant australia became a hot dry desert and antarctica became a frozen barren ice field.
    higurashihougi
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    Post  higurashihougi Sat Oct 29, 2016 10:24 am

    Or if the government manage to make use of released heat from thermal powerplant... then the requirement of gas and oil may be further reduced.
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    Post  Svyatoslavich Sat Oct 29, 2016 4:18 pm

    higurashihougi wrote:Or if the government manage to make use of released heat from thermal powerplant... then the requirement of gas and oil may be further reduced.
    As far as I know, this is still widely used in Russia: hot stream is not released to the atmosphere after it is used to power the turbine, it is sent through thick wide tubes to be used as hot water. In the center of bigger cities the tubes are underground, but in smaller towns or in the suburbs you can see them.
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    Post  JohninMK Tue Nov 22, 2016 2:25 pm

    Something smells here. The EU is either stringing Kiev or Moscow along. Has it nearly doubled Russia's capacity on the Opal pipe just to lull it into a false sense that the NordStream2 pipes are not needed, only at some point in the future to reduce Opal again?

    Gazprom is clearly trying to get itself into position going into negotiations with Kiev for any new post 2018/19 transit contract where it could walk away with little real impact.

    KIEV (Sputnik) — On Monday, Mingarelli held talks with Ukrainian Deputy Prime Minister Vladimir Kistion reiterating that cooperation in the energy sector had remained one of the main spheres in the cooperation between Kiev and Brussels during the past 25 years.

    The EU diplomat said on Monday that the European partners were closely monitoring the reforms of the Ukrainian energy sector, and would continue to exert the necessary efforts to ensure that Ukraine would remain an important partner in the issue of natural gas transportation, understanding Kiev's concerns about the recent Brussels' decisions regarding the main pipelines, according to Kistion's press service.

    The sides had also discussed the issue of the EU visa-free regime for Ukraine and the European diplomat agreed that Brussels would do its utmost to help the visa-free regime with Kiev become true to life, the press service of the Ukrainian official added.

    Despite the fact that the European Commission has consistently advocated for the gas transit through Ukraine, it has recently expanded the access of Russian energy giant Gazprom to the Opal pipeline. The Opal connects the Russia-initiated Nord Stream pipeline with Europe’s gas transportation network, up to 90 percent, preserving the last 10 percent as a reserve for the third countries.


    Read more: https://sputniknews.com/europe/201611221047692361-eu-ukraine-gas-transit/
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    Post  Rmf Tue Nov 22, 2016 2:49 pm

    no its not, there is summer gas supply and winter gas supply....in the winter is much bigger quantity.
    this way underused north stream (in summer) will be pumping at full capacity all year round , but during summer the gas will be stored in german storages ,and then they will release it to dumb east europeans with their transit tax during winter....
    So germany instead of paying transit taxes will get cheap gas directly from russia ,store extra of it in summer , use north stream 100% , and then sell gas to russophobic east-euro-idiots with its own transit tax for more profit. east europenas get shafted massively.
    marvellous Razz
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    Post  JohninMK Tue Nov 22, 2016 5:42 pm

    Rmf wrote:no its not, there is summer gas supply and winter gas supply....in the winter is much bigger quantity.
    this way underused north stream (in summer) will be pumping at full capacity all year round , but during summer the gas will be stored in german storages ,and then they will release it to dumb east europeans with their transit tax during winter....
    So germany instead of paying transit taxes will get cheap gas directly from russia ,store extra of it in summer , use north stream 100% , and then sell gas to russophobic east-euro-idiots with its own transit tax for more profit. east europenas get shafted massively.
    marvellous Razz
    Not sure that makes sense.

    Nordstream1's 55BCM capacity splits two ways at Rostock, 20 to NEL to the west, including as far as us in the UK, and 35 to OPAL to the south.

    Due to EU rules, only 50% of the Opal pipe capacity was available to Gazprom's Russian gas all year round, the other 50% being reserved under competition rules for other sources. This of course was ridiculous as there were no actual alternatives. So now the EU has seen economic sense and Gazprom can use 90% with 10% for others that is an extra 14BCM.

    As you say, it is likely that at times in the winter Opal will run at full capacity as well as some of the summer when it is filling storage in Germany. Incidentally, an increasing amount of that storage has been bought by Gazprom from the Germans, so rather than Germany benefiting from selling that gas in the winter it will be Gazprom shareholders.

    Only Ukraine makes a point about buying 'non Russian' gas and that only stacks up economically due to them getting the transit fee to net against the reverse flow gas cost. To much of Eastern Europe it probably makes no difference which pipe from Russia their gas comes in on.

    There is possibly still 50+BCM running through Ukraine so OPAL can't cope on its own if Ukraine is to be bypassed, Russia needs South or Turkstream as well or Nordstream2 plus OPAL2 with increased capacity maybe all the way down to the main switching hub at Baumgarten in Austria.
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    Post  Rmf Tue Nov 22, 2016 7:32 pm

    thats the point , both sides control each other... russia has fixed investments in germany , so germany is not affraid to empty its storages of gas ,because now both sides have -leverage.
    even in the end of winter germany who has largest storage cappacity had 30% left in gas tanks for fear of russian cutbacks. north stream was underused and using opal russians will fill those storages during summer and empty to 0% at the end of winter. in case of prolonged winter old pipes can be used but little. but poland and ukraine get owned totaly.
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    Post  George1 Tue Jan 03, 2017 2:57 pm

    Russia increases oil production by 2.5% in 2016

    More:
    http://tass.com/economy/923680


    Gazprom breaks record for Nord Stream gas supplies

    More:
    http://tass.com/economy/923695

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