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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BLOOMBERG - While Europe as a whole gets more than a third of its gas from Russia, that share is lower in the U.K., which receives the bulk of its fuel from North Sea fields and Norway. Still, Moscow-based Gazprom PJSC was the second-biggest supplier to major industrial consumers in the U.K. last year, according to Britain’s energy regulator Ofgem.
FT - of the six LNG tankers that have made deliveries into the UK so far in 2018 three have carried cargoes originally from Russia, leading to questions about whether Moscow was gaining a foothold in the UK gas market after starting up the Yamal LNG facility in Siberia late last year.
REUTERS - So far this year, two Yamal cargoes unloaded at British terminals for domestic consumption, accounting for about a third of Britain’s 2018 LNG imports after typical supplier Qatar pre-sold the bulk of its winter output to Asia last year.
REUTERS - U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $60.77 a barrel at 0753 GMT, up 6 cents, or 0.1 percent, from their previous settlement. Brent crude futures LCOc1 were at $64.62 per barrel, down just 2 cents from their last close.