TO KILL SOUTH STREAM
Eastern European countries dependent on Russian gas are scrambling for alternatives after President Vladimir Putin blindsided them with a decision to scrap a pipeline bypassing Ukraine.
The prime ministers of the Czech Republic, Hungary, Slovakia and Poland met yesterday to discuss energy security after Russia on Dec. 1 backed out of the South Stream pipeline following European Union objections on legal grounds.
The move leaves much of southeastern Europe dependent on Russian gas transiting crisis-torn Ukraine, cause for concern in a region that suffered shortages in 2006 and 2009 after Russia cut off supplies to the former Soviet satellite. The region's leaders are drawing up a list of alternatives that includes a plan to access Azeri gas.
"In the 25 years since the fall of Communism we haven't diversified the gas and oil routes," Hungarian Prime Minister Viktor Orban said after the meeting in Bratislava, Slovakia. "This is a huge strategic mistake, not only for Hungary but for the entire EU."
|December, 18, 12:50:00|
|December, 18, 12:45:00|
|December, 18, 12:40:00|
|December, 18, 12:35:00|
|December, 18, 12:30:00|
|December, 18, 12:25:00|
PLATTS - National Australia Bank announced Thursday it will no longer provide financing for new thermal coal projects.
Petrobras and ExxonMobil signed a memorandum of understanding regarding a strategic alliance to jointly identify and evaluate potential business opportunities.
ExxonMobil Development Africa B.V. has acquired a 25 percent indirect interest in Mozambique’s gas-rich Area 4 block from Eni and assume responsibility for midstream operations.
U.S. Rig Count is down 1 rig from last week to 930, with oil rigs down 4 to 747, gas rigs up 3 to 183, and miscellaneous rigs unchanged. Canada Rig Count is up 19 rigs from last week to 238, with oil rigs up 22 to 134 and gas rigs down 3 to 104.