All publications by tag «GAZPROM»
Russia’s oil industry is “very resilient,” BP Plc CEO Bob Dudley said in St. Petersburg on Thursday. The nation’s resources are competitively priced and floating the currency has been helpful for costs, he said while announcing a new exploration joint-venture with Rosneft.
The parties discussed relevant cooperation issues, placing an emphasis on planned gas supplies to China via the eastern and western routes, as well as the prospects of collaboration in the field of underground gas storage, gas-fired power generation, and natural gas vehicles.
Russia's Gazprom plans to export a record 165 billion cubic metres (bcm) of gas to Europe this year, the company's deputy chief executive Alexander Medvedev told reporters on Thursday.
Russia plans to increase oil production to 540 million tonnes (10.8 million bpd) or more this year, from 534 million tonnes in 2015.
Socar President Rovnag Abdullaev disclosed last week that Azerbaijan was in the process of negotiating an agreement under which it would purchase 3-5bn m³/yr of gas from Gazprom.
The parties plan to examine further opportunities for mutually beneficial cooperation in the field of hydrocarbon prospecting, exploration and development. Among the opportunities being considered are joint activities within new projects at licensed blocks on the shelf of Vietnam and in third countries.
In light of the increasing demand for Russian energy products in Europe, the meeting participants stressed the importance of the Nord Stream 2 project. It was noted that the new gas transmission pipeline would not only improve the reliability of gas deliveries but also facilitate the development of the European gas market.
The United States is deeply concerned about the Nord Stream-2 gas pipeline project as a threat to national security, a senior U.S. energy envoy said on Friday, after the issue was raised at talks in Washington this week.
Russian state-owned oil and gas giant Gazprom is currently working to create a liquefied natural gas (LNG) distribution hub in Bahrain. The hub will be meant to intake LNG from various sources, including Russia.
Gazprom reported the average production cost of natural gas in 2015 at ₽1643 per 1000 cubic meters (mcm) or $27.09/mcm or $0.84/MMBtu. The corresponding numbers for 2014 are ₽1470/mcm, $38.73/mcm and $1.21/MMBtu. The cost in US dollars is affected by the devaluation of Russian ruble. The average US dollar rate in 2015 was ₽60.66 compared with ₽37.97 in 2014.