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    Russian Oil and Gas Industry: News #3

    kvs
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    Post  kvs Wed Nov 10, 2021 11:01 pm

    This was all announced days ago when Miller reported to Putin that Gazprom would be free to fill offshore storage from November 8.

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    owais.usmani


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    Post  owais.usmani Thu Nov 11, 2021 10:12 am

    https://www.globaldata.com/russias-new-og-discoveries-drop-five-year-low-says-globaldata/

    Russia has seen the number of new oil and gas discoveries drop to a five-year low, according to GlobalData. The leading data and analytics company notes that Russia discovered only six very small fields in H1 2021, which add a mere 36 million barrels – less than four days of the country’s daily oil production.

    Anna Belova, Oil & Gas Analyst at GlobalData, comments: “To retain its place as one of the top oil and gas producing nations, Russia needs to ensure a steady pace of discoveries to replace produced reserves. Otherwise, the effects of COVID-19 and reduced investments will be felt by the Russian oil and gas sector well after the pandemic subsides.”

    The past year and half have been challenging for many resource-exporting countries, however, Russia has been able to weather the pandemic-induced demand shock to oil and gas markets with relative success.

    Belova continues: “The country’s operators benefited from a quickly negotiated agreement with OPEC+ members to reduce oil production, which led to price stabilization; sustained oil price growth as economies recovered; and the country’s strong rebound in global gas demand, which led to record-high gas prices.”

    However, exploration for new reserves has taken a significant hit, as evidenced by reduced drilling activity and, consequently, the steep decline of new oil and gas discoveries.

    Belova adds: “Over the past decade, Russia has not only grown its oil and gas production to post-Soviet records, it also successfully explored for new oil and gas. News-making discoveries were made over the decade in offshore waters and new frontier basins, supplemented by large numbers of smaller discoveries in more mature areas. However, COVID-19 has caused a steep drop in new exploration and discoveries, when most Russian operators significantly cut capital expenditures into exploration.”
    kvs
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    Post  kvs Thu Nov 11, 2021 10:39 am

    What a stupid article. No other country is seeing any surge in discoveries. The whole planet is long past the peak discoveries in the
    1960s and has dropped below replacement levels. And it keeps dropping on decadal time scales. At the same time existing fields are
    depleting. In other words, the world is running on borrowed time in terms of oil and gas resources. The demand will not be met by the
    middle of the century.



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    Post  LMFS Thu Nov 11, 2021 12:15 pm

    Freakin clowns, Russia has not even started with non-conventional extraction and they are supposed to be in big trouble Embarassed

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    Post  kvs Thu Nov 11, 2021 1:28 pm



    Nord Stream 2 will not be subject to the EU's third energy package regulations. The sales point
    will be at the EU's border. This allows the full capacity to be used and prevents future blackmail
    by EU member states (Poland, Baltics, etc.) who will demand compensation for some smell coming
    out their asses.

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    Autodestruct


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    Post  Autodestruct Sat Nov 13, 2021 5:22 pm

    Ten trillion rubles to be invested in the Vostock oil project on the Taimyr peninsula. The development of the arctic coastal regions is creeping eastward from the Yamal peninsula.

    https://tass.com/economy/1360483

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    Post  owais.usmani Mon Nov 15, 2021 9:37 am



    lol!

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    JohninMK
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    Post  JohninMK Mon Nov 15, 2021 8:48 pm

    WTF

    MatthiasWilliams
    @matthi_williams
    ·
    2h
    GERMAN REGULATOR SAYS UKRAINE'S NAFTOGAZ WILL BE INCLUDED IN THE NORD STREAM 2 PIPELINE CERTIFICATION PROCESS

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    kvs
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    Post  kvs Mon Nov 15, 2021 10:05 pm

    JohninMK wrote:WTF

    MatthiasWilliams
    @matthi_williams
    ·
    2h
    GERMAN REGULATOR SAYS UKRAINE'S NAFTOGAZ WILL BE INCLUDED IN THE NORD STREAM 2 PIPELINE CERTIFICATION PROCESS

    Retard is, as retard does.

    Russia should make it clear to EU-tards that it does not need to ship any gas to them.

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    Post  kvs Mon Nov 15, 2021 10:11 pm

    Russia is run by inadequate leaders.

    It should declare that if the Kiev regime attacks the Donbass, then it will rip up the extension of gas transit through Banderastan
    running through 2024. Let western hater fake stream media bitch all it wants. The terms are clear. It is Russian gas and Russia
    can set conditions. Just like the Canadian government sets conditions on its employees to take mRNA vaccines without any other
    choice.

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    Post  LMFS Mon Nov 15, 2021 10:36 pm

    JohninMK wrote:WTF

    MatthiasWilliams
    @matthi_williams
    ·
    2h
    GERMAN REGULATOR SAYS UKRAINE'S NAFTOGAZ WILL BE INCLUDED IN THE NORD STREAM 2 PIPELINE CERTIFICATION PROCESS

    They want to freeze, it seems Rolling Eyes

    Europe's blackmailing Russia with their own ruin is increasingly looking like Monty Python's Suicide Squad

    Russian Oil and Gas Industry: News #3 - Page 28 Judean-peoples-front-jpf

    Now they will learn, these Russkies clown

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    Karl Haushofer


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    Post  Karl Haushofer Mon Nov 15, 2021 11:27 pm

    LMFS wrote:
    JohninMK wrote:WTF

    MatthiasWilliams
    @matthi_williams
    ·
    2h
    GERMAN REGULATOR SAYS UKRAINE'S NAFTOGAZ WILL BE INCLUDED IN THE NORD STREAM 2 PIPELINE CERTIFICATION PROCESS

    They want to freeze, it seems Rolling Eyes

    Europe's blackmailing Russia with their own ruin is increasingly looking like Monty Python's Suicide Squad

    Russian Oil and Gas Industry: News #3 - Page 28 Judean-peoples-front-jpf

    Now they will learn, these Russkies clown

    But they know that Putin/Russia always eventually backs out or capitulates. Even if Russia has a good hand to play. This is why they (the West) does this. They know that Russia and its leadership doesn't consist of hardliners.

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    Post  LMFS Tue Nov 16, 2021 3:56 am

    Karl Haushofer wrote:But they know that Putin/Russia always eventually backs out or capitulates. Even if Russia has a good hand to play. This is why they (the West) does this. They know that Russia and its leadership doesn't consist of hardliners.

    Don't insist, you don't understand how the strategic game is played. Neither do the idiots in the West, mind you, and that is a blessing for Russia.

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    Post  GarryB Tue Nov 16, 2021 6:50 am

    Russia makes good money selling gas to the EU... why jeopardise that by using it as a weapon.

    Giving the EU real reasons to stop using gas and start using other less palatable energy sources is not in Russian interests.

    Gas going through the Ukraine just makes EU gas cost more for EU customers.... now there are pipes that bypass the Ukraine Russia can make it plain and simple... you can order gas via the Ukraine which will cost this amount, or you can order gas via this pipeline for 20% less or that pipeline for 30% less... you get to choose.

    But they know that Putin/Russia always eventually backs out or capitulates.

    He used to... in the interests of cooperation and getting along... but now things have changed... the EU needs Russian gas rather more than Russia needs anything from the EU or the west that it can't get from China on better terms.

    He would be a fool to start swinging gas sales like a weapon, just as he would be a fool to let market forces drive the price of gas up to the point it becomes no longer affordable and they stop buying it completely.

    International trade was in US dollars... now not so much because the US started openly using the US dollar as a weapon and that is going to hurt the US rather more than anything Russia could do to attack the US.

    Most of the things the EU is doing it is doing to please the US and the US just wants the EU and Russia to not be friends.... that alone is enough to sabotage the EU and make her useless and weak and no real problem for Russia to worry about in terms of anything except the military and even then HATO struggles to put together large exercises these days... they used to call the Soviets a giant with clay feet... it is certainly something the west has become.

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    Rasisuki Nebia
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    Post  Rasisuki Nebia Tue Nov 16, 2021 11:10 am

    What's a backbone in today's world

    The certification of the Nord Stream 2 gas pipeline, connecting Russia and Germany, is going to be paused

    https://www.rt.com/russia/540395-nord-stream-certification-germany/

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    Post  medo Tue Nov 16, 2021 11:11 am

    Russia build big chemical plants to reproduce gas in different chemical products for a reason. Why to sell gas to EU, when they could sell chemical products from gas for higher prices? With reducing gas transportation to EU, they will kill EU chemical industry...

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    Post  owais.usmani Tue Nov 16, 2021 11:12 am

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    Post  Rasisuki Nebia Tue Nov 16, 2021 11:35 am

    Hey they can always buy it but it's gonna cost a bit extra Very Happy  the self cuckery of the EU is amusing and it'll only get worse the more they delay NS2.
    as for Russia they better start giving them the cold finger literally, China is happily buying pricy US gas that was meant for the EU Rolling Eyes , Russia should look increasingly towards the east, pausing NS2 is no big deal as long as Russia profits in the short term dunno
    They'll cave in eventually, if they want to survive this winter season, but i have no problem if they continue on with this whole circus and the imaginary Russian invasion .

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    Post  miketheterrible Tue Nov 16, 2021 11:44 am

    I imagine sales of Russian LNG to EU will boom and so will Russian gas to Asia.

    Europe is so fucked.

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    Karl Haushofer


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    Post  Karl Haushofer Tue Nov 16, 2021 1:16 pm

    I fully expect Russia to make a new transit deal with Ukraine for another 20 years.

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    Post  franco Tue Nov 16, 2021 1:31 pm

    Karl Haushofer wrote:I fully expect Russia to make a new transit deal with Ukraine for another 20 years.

    Shocked Have you thought about having a cat-scan?

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    Post  PhSt Tue Nov 16, 2021 1:45 pm

    Karl Haushofer wrote:I fully expect Russia to make a new transit deal with Ukraine for another 20 years.

    Like in Sevastopol, there is no need to pay for fees when the territory hosting those pipelines are liberated russia

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    Post  miketheterrible Tue Nov 16, 2021 2:08 pm

    franco wrote:
    Karl Haushofer wrote:I fully expect Russia to make a new transit deal with Ukraine for another 20 years.

    Shocked  Have you thought about having a cat-scan?

    Well, Russian authorities are pushovers and keep signing agreements with the people who openly state they want to destroy them. So I don't blame him that he feels that way.
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    Post  franco Tue Nov 16, 2021 2:54 pm

    miketheterrible wrote:
    franco wrote:
    Karl Haushofer wrote:I fully expect Russia to make a new transit deal with Ukraine for another 20 years.

    Shocked  Have you thought about having a cat-scan?

    Well, Russian authorities are pushovers and keep signing agreements with the people who openly state they want to destroy them.  So I don't blame him that he feels that way.

    Only if it benefits Mother... Putin plays a long game.

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    Post  JohninMK Tue Nov 16, 2021 2:58 pm

    From Reuters. Brilliant timing by the German bureaucrats shooting EU consumers and German businesses in the foot, or both feet especially if winter is harsh. Among many others, the fertilizer factories will love the instantly higher spot prices. I doubt that the Russians will react positively to this.


       Summary

       U.S., some European state oppose Russian-backed pipeline
       Surging gas prices push Europe to find more supplies
       Russian lawmaker says delays not in interest of EU

    FRANKFURT, Nov 16 (Reuters) - Germany's energy regulator has suspended the approval process for a major new pipeline bringing Russian gas into Europe, throwing up a new roadblock to the contentious project and driving up regional gas prices.

    The watchdog said on Tuesday it had temporarily halted the certification process because the Swiss-based consortium behind Nord Stream 2 first needed to form a German subsidiary company under German law to secure an operating licence.

    European prices jumped 9% on news of the hold-up, with the Dutch front-month contract briefly trading at 89.00 euros/MWh.

    "This does push back expected timelines quite a bit," said analyst Trevor Sikorski at Energy Aspects, adding that it was unclear how long the process of establishing a new company and reapplying for certification would take.

    First flows through the pipeline look very unlikely in the first half of 2022, he added.

    Nord Stream 2 has faced stiff opposition from the United States and some European states, which say it will make Europe too reliant on Russian gas. But other European governments say the link is vital to secure energy supplies, with gas prices surging in recent weeks and the threat of power outages looming this winter.

    Nord Stream 2 said it had been notified by the regulator about the certification decision. "We are not in a position to comment on the details of the procedure, its possible duration and impacts on the timing of the start of the pipeline operations," it added.

    The Kremlin was not immediately available to comment.

    "Any delays in the pipeline certification, all the more so on the eve of winter, is not in the interests of the European Union, that's without any doubt," Konstantin Kosachyov, deputy chairman of Russian parliament's upper house, told TASS news agency.

    The regulator, the Bundesnetzagentur, said it would only assess an application after a transfer of major assets and budgets for staffing to a German subsidiary. "A certification for the operation of Nord Stream 2 will only be considered once the operator is organised in a legal shape compliant with German law," it said. Once these preconditions had been met, it said it could continue assessing the submission in the rest of the four-month application period. Before the suspension, that period was meant to run until eary January. read more

    UKRAINIAN OPPOSITION

    Ukraine is one country bitterly opposed to the pipeline, which has fed into broader tensions between Kyiv and Moscow at a time when the United States has accused Russia of building up troops near Ukraine in preparation for a possible attack, an allegation the Kremlin has dismissed.

    Russia annexed Ukraine's Crimean peninsula in 2014 and Moscow-backed separatists took control of the Donbass region in eastern Ukraine that same year.

    The head of the Ukrainian energy firm Naftogaz told Reuters that he welcomed the German energy regulator's decision. "Good," Yuriy Vitrenko said. "This is an important point, which suggests that the German regulator shares our position that certification cannot only apply to the pipeline in Germany, but should apply to the entire pipeline from the territory of the Russian Federation to the territory of Germany."

    Kyiv will lose revenues if gas from Russia bypasses it and it accuses Moscow of using energy as a weapon to threaten Europe's security.

    Moscow has denied this and says Nord Stream 2 is a purely commercial venture that complies with European energy rules.

    Ukraine has successfully applied to be part of the consultation process to certify the pipeline.

    Moscow has already used a route under the Baltic Sea for Nord Stream 1 - the predecessor to Nord Stream 2 - which has a capacity of 55 billion cubic metres (bcm), equivalent to half Germany's annual gas usage.

    Nord Stream 2 will double that and make Germany a central arrival hub for European gas volumes for onward distribution.

    The German regulator said the Berlin economy ministry and the European Commission had been made aware of its notice to Nord Stream 2. The Commission has two months after the German regulator's decision to assess the application for its part.

    "Under the current circumstances there is further downside for the timing of the start-up of Nord Stream 2 because even though Germany is more friendly towards this project than EU, the pipeline’s regulatory certification could face even more hurdles during the EU commission review stage," said Carlos Torres Diaz, head of gas and power markets at Rystad Energy.


    Last edited by JohninMK on Tue Nov 16, 2021 3:07 pm; edited 2 times in total

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