GAZPROM INVESTMENTS: $18 BLN
Russia's Gazprom will invest 839.2 billion roubles ($18.1 billion) next year, the bulk for development of the Yamal peninsula gas deposits and also including research for a new gas pipeline route to China, the company said on Thursday.
This is down from more than 1 trillion roubles earmarked for 2014, a figure that had initially been set at 806 billion roubles.
Gazprom signed a memorandum at the weekend that it hopes will lead to shipments of an additional 30 billion cubic metres (bcm) of gas a year to China via the so-called western route.
The company also said it is ready to start construction of the undersea part of the South Stream gas pipeline via the Black Sea to Europe.
The pipeline, designed to carry 63 billion cubic metres of Russian gas to Europe after 2018, has met stiff resistance from the European Union, which is trying to wean itself off its dependence on energy from Russia. Relations between the two have worsened sharply this year after Moscow's intervention in Ukraine led the EU to impose sanctions, including on Gazprom.
The EU has said the project violates its regulation on third-party access to pipelines.
Gazprom was banned from buying equipment for deep water, shale oil and Arctic offshore projects. However, unlike many other Russian companies, it was not barred from Western capital markets.
Gazprom did not mention the impact of sanctions on Thursday.
Last month, the Russian company said that foreign banks' caution about Western sanctions means financing of the South Stream gas pipeline project has been slightly delayed.
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REUTERS - India’s natural gas consumption is expected to rise to 70 billion cubic metres (bcm) by 2022 and 100 bcm by 2030, according to a government think tank and the Oxford Institute of Energy Studies, up from 50 bcm now. India burns just 7 percent of what top user the United States consumes in a year with about a quarter of India’s population.
Norway, which relies on oil and gas for about a fifth of economic output, would be less vulnerable to declining crude prices without its fund investing in the industry, the central bank said Thursday. The divestment would mark the second major step in scrubbing the world’s biggest wealth fund of climate risk, after it sold most of its coal stocks.
WSJ - Light, sweet crude for December delivery rose $1.41, or 2.6%, to $56.55 a barrel on the New York Mercantile Exchange, snapping a three-session losing streak. Brent, the global benchmark, advanced $1.36, or 2.2%, to $62.72 a barrel.
U.S. Rig Count is up 327 rigs from last year's count of 588, with oil rigs up 267, gas rigs up 61, and miscellaneous rigs down 1 to 1. Canada Rig Count is up 24 rigs from last year's count of 184, with oil rigs up 9 and gas rigs up 15.