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"It is worth taking the risk at $1 billion because it opens a huge market. We are perfectly conscious of some risks. We have taken into account (sanctions) snap-backs, we have to take into account regulation changes," Pouyanne said in an interview.
The upward trend continues: from January through May 2017 Russian gas deliveries to France added 8.8 per cent compared to the same period of 2016.
From January 1 to September 13, 2016, Gazprom supplied 8 billion cubic meters of gas to France, which was 27.3 per cent higher than in the same period of 2015.
Total E&P Russie, a 100% affiliate of Total group, has transferred a 20% participating interest in and the operatorship of the Production Sharing Agreement for the Development and Production of Oil in the Kharyaga Field (Kharyaga PSA) to Zarubezhneft-Production Kharyaga LLC, a subsidiary of Zarubezhneft JSC.
France’s energy and environment minister Segolene Royal wants to find a “legal way” to prevent the import of non-conventional US LNG.
The biggest increase was seen in the consumption of gas-to-power by industrial customers, which increased by 161% to reach a total of 10.8% of overall consumption. The transmission operator attributes the increase in industrial demand to "favourable economic conditions."
France has confirmed its interest in the Nord Stream-2 project, Russia’s Energy Minister Alexander Novak told reporters.
Rosneft Chairman of the Management Board and Essar Group Founder Shashi Ruia signed a long-term contract for oil supplies for the purpose of refining at the Vadinar refinery (India).
Technip will reduce its global workforce by 6,000 employees and accelerate cost reduction and efficiency in “anticipation of an even more challenging environment in oil and gas.”
MH17 crash: EU divided over severity of Russia sanctions