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2014-04-14 19:11:00

RUSSIA & CHINA: GAS FINISH

RUSSIA & CHINA: GAS FINISH

Russia and China aim to wrap up a 10-year series of talks about Russian gas supplies before President Vladimir Putin visits China in May, media quoted the deputy prime minister as saying on Monday.

The Russian deputy premier, Arkady Dvorkovich, also said China is interested in alternative energy projects on the Black Sea peninsula of Crimea, annexed by Russia from Ukraine in March.

Moscow and Beijing have been involved in painstaking talks about possible Russian gas supplies to China, with price being the main obstacle to a deal.

"The gas talks are wrapping up. There is a common intention to complete this work before the Russian president's visit to China in May this year," Interfax news agency quoted Dvorkovich as saying in a meeting with Prime Minister Dmitry Medvedev.

Last week, Dvorkovich went to China as part of a Russian delegation to discuss cooperation in the energy sector.

Putin has urged Russian companies to expand their exposure to Asia as Europe's economy falters and countries there seek less dependence on energy supplies from their former Cold War foe. Europe is the key buyer of oil and gas from Russia.

Russia's top natural gas producer Gazprom plans to start supplying China with 38 billion cubic meters of gas per year - around a quarter of Russia's exports to Europe - in 2018.

Dvorkovich also said Russia and China plan to boost cooperation in oil and oil products, as well as in coal and power supplies.

Russia's top oil company Rosneft aims to triple oil supplies to China from the more than 300,000 barrels per day it sent last year.

"The key decisions have been taken, but both the Chinese partners and we have a desire to boost cooperation," Dvorkovich said, according to Interfax.

He also said China is interested in developing Crimea.

"The Chinese colleagues who are involved in alternative energy projects, are looking with interest at participating in similar projects in the Crimean republic," Dvorkovich was quoted as saying.

REUTERS.COM.

Tags: CHINA, GAS, RUSSIA

Chronicle:

RUSSIA & CHINA: GAS FINISH
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.

RUSSIA & CHINA: GAS FINISH
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.

RUSSIA & CHINA: GAS FINISH
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. 

RUSSIA & CHINA: GAS FINISH
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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