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2014-07-04 18:00:00

RUSSIA & CHINA: GAS PRICE

RUSSIA & CHINA: GAS PRICE

OAO Gazprom, the world's largest natural gas producer, will supply fuel to China at a price close to Germany's, according to Russian officials.

Keeping parity between Germany and China, which will be Gazprom's two largest customers after shipments to the Asian country start, may reassure investors that Russia didn't offer excessive discounts to win a deal that had been sought for more than a decade.

The base price for China National Petroleum Corp is about $360 per 1,000 cubic meters, two government officials in Moscow said, asking not to be identified because the information is confidential. That's near the average $366 that Gazprom charged Germany last year, which pays one of the lowest prices in Europe, one of the officials said.

The estimated value of the accord is about $400 billion, the largest contract in natural gas history, Gazprom said when the deal was signed last month. The Russian company had declined to reveal the exact gas price.

oilandgaseurasia.com

Tags: RUSSIA, CHINA, GAS, GAZPROM, CNPC

Chronicle:

RUSSIA & CHINA: GAS PRICE
2018, June, 22, 13:10:00

THE LARGEST VENEZUELA'S OIL

U.S. EIA - Venezuela holds the largest oil reserves in the world, in large part because of the heavy oil reserves in the Orinoco Oil Basin. In addition to oil reserves, Venezuela has sizeable natural gas reserves, although the development of natural gas lags significantly behind that of oil. However, in the wake of political and economic instability in the country, crude oil production has dramatically decreased, reaching a multi-decades low in mid-2018.

RUSSIA & CHINA: GAS PRICE
2018, June, 22, 13:05:00

U.S. DEFICIT UP FROM $116.1 BLN TO $124.1 BLN

U.S. BEA - The U.S. current-account deficit increased to $124.1 billion (preliminary) in the first quarter of 2018 from $116.1 billion (revised) in the fourth quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.5 percent of current-dollar gross domestic product (GDP) in the first quarter, up from 2.4 percent in the fourth quarter.

RUSSIA & CHINA: GAS PRICE
2018, June, 22, 13:00:00

EUROPE'S NUCLEAR INVESTMENT : €50 BLN

WNN - There are 126 operational power reactors in 14 EU Member States, providing more than one-quarter of the bloc's total electricity production. In its Communication on the Nuclear Illustrative Program (PINC) published last year, the European Commission expects nuclear to maintain its significant role in Europe's energy mix up to 2050. This would require investment of some EUR40-50 billion (USD46-58 billion) in nuclear LTO by 2050.

RUSSIA & CHINA: GAS PRICE
2018, June, 20, 13:15:00

OIL PRICE: ABOVE $75

REUTERS - Benchmark Brent crude LCOc1 was up 50 cents at $75.58 a barrel by 0835 GMT. U.S. light crude CLc1 was 50 cents higher at $65.57.

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