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2014-03-14 17:15:00

ROSNEFT: SHELL-SHOCKED MANIAC

ROSNEFT: SHELL-SHOCKED MANIAC

REUTERSRussia's top crude oil producer Rosneft wants to break the monopoly of another state-owned energy champion, Gazprom, to export gas via pipelines, sources said on Friday, signalling a flare-up between powerful clans.

Igor Sechin, a long-standing ally of Russian President Vladimir Putin, transformed Rosneft into the world's top publicly traded oil producer through the $50 billion purchase of Anglo-Russian firm TNK-BP last year.

In a sign of Sechin's rising clout, Rosneft and Russia's largest non-state gas producer Novatek have already secured rights to export seaborne liquefied natural gas, reversing a 2006 law that gave Gazprom a monopoly on gas exports.

Gazprom still holds the exclusive rights to ship Russian gas abroad via pipelines, which connect vast Siberian gas fields with European clients. It meets 30 percent of gas demand in the European Union.

Rosneft in particular wants access to Gazprom's Sila Sibiri (Power of Siberia) pipeline designed to carry gas to China at a rate of 38 billion cubic metres a year, sources familiar with the matter said.

Gazprom has yet to sign a final deal with China on the pipeline and has delayed its launch to 2020 from 2018 expected earlier.

"It is unfair that the pipeline is designated only for one company," a source at Rosneft said.

In its struggle against Gazprom, Rosneft in January hired TV presenter Mikhail Leontiyev - who once called Gazprom CEO Alexei Miller a "shell-shocked maniac" for downplaying the importance of U.S. shale gas - to head its public relations office.

"We believe there are some factors restricting the gas potential of Russia, which, due to increasing competition from international majors, requires that laws be modernised," Rosneft's spokesman said, without elaborating.

Gazprom declined to comment.

Rosneft has staked a lot on developing its gas business. After Sechin took the helm in May 2011, it acquired independent gas firm Itera and gained rights to develop large deposits in Russia.

It plans to more than double gas output by the end of the decade to take advantage of a gradual liberalisation of the Russian gas market.

Thanks to new acquisitions, the company has seen its gas output trebling over the past year to 42 billion cubic metres - enough to meet gas demand in a country the size of France.

CHINA

Gazprom has been in painstaking talks over the last 10 years about shipping gas to China and has been unable to agree on pricing. The company now aims to reach the agreement in May during Putin's planned visit to China.

Gazprom head Miller is also a member of Putin's inner circle.

Putin has urged domestic companies to forge close ties with energy-hungry China as Europe, Russia's Cold War-era foe, tries to diversify away from Moscow.

Sechin, unlike Gazprom, has successfully clinched deals to increase oil supplies to China, which may see Rosneft tripling its crude exports to Russia's neighbour later this decade.

The Rosneft source said the company is eying natural gas supplies to China and that around 1 trillion cubic metres of gas is available for the company in East Siberia.

A government source confirmed Rosneft has been actively lobbying for permission to export pipeline gas to China.

"They have sent different letters and appealed to the government ... I think they will make a public statement (on gas exports) soon," the source said.

Tags: ROSNEFT, GAZPROM, OIL, GAS, РОСНЕФТЬ, ГАЗПРОМ

Chronicle:

ROSNEFT: SHELL-SHOCKED MANIAC
November, 24, 09:15:00

SAUDI'S OIL FOR CHINA

BLOOMBERG - As Saudi Arabia led OPEC’s output cuts this year to shrink a global glut, it’s lost out on market share in the world’s biggest energy consumer. Russia in September retained the top Chinese supplier spot for the seventh straight month, while the kingdom was third.

ROSNEFT: SHELL-SHOCKED MANIAC
November, 24, 09:10:00

URALS QUALITY WILL DOWN

PLATTS - The quality of Russia's key Urals crude exports towards Europe will continue to fall next year as more of the country's low-sulfur oil flows are diverted eastward to China, Russian national oil pipeline operator Transneft warned.

ROSNEFT: SHELL-SHOCKED MANIAC
November, 24, 09:05:00

S.KOREA'S SOLAR UP

FT - OCI — the world’s third-largest polysilicon maker by capacity and South Korea’s biggest — this month reported a 3,373 per cent increase in operating profit to Won78.7bn ($72m) for the July-September quarter, its best performance in five years. Rival Hanwha Chemical saw third-quarter net profit jump 25 per cent to a record Won252bn. 

ROSNEFT: SHELL-SHOCKED MANIAC
November, 24, 09:00:00

U.S. RIGS UP 8 TO 923

U.S. Rig Count is up 330 rigs from last year's count of 593, with oil rigs up 273, gas rigs up 58, and miscellaneous rigs down 1 to 0. Canada Rig Count is up 41 rigs from last year's count of 174, with oil rigs up 13, gas rigs up 30, and miscellaneous rigs down 2 to 2.

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