RELIABLE PARTNERS FOR EUROPE
OMV AG is firming its traditionally strong ties with Russia.
It recently agreed to participate with state-owned Gazprom in gas development in West Siberia and in a group led by Gazprom to expand the trans-Baltic Nord Stream gas pipeline.
This month it invited former German Chancellor Gerhard Schroeder, now chairman of the Nord Stream shareholder's committee, to meet with Chief Executive Officer Rainer Seele and 350 guests at the Hofburg Palace in Vienna.
"Russia plays a central role in the question of how we Europeans can secure our energy supply," Schroeder, whose friendship with Russian President Vladimir Putin has been controversial in Germany, said at the Nov. 9 event. "Norway and Russia are the most secure and reliable energy partners for Europe."
In September, OMV joined other signatories of a shareholders' agreement to form New European Pipeline AG, which plans to lay the twin Nord Stream 2 pipeline alongside the 1,224-km Nord Stream system between Vyborg, Russia, and Greifswald, Germany.
Gazprom is to own 51% of the new company. E.On AG, Shell, OMV, and BASF/Wintershall will own 10% interests each. ENGIE will own 9%.
Gazprom also owns 51% of Nord Stream AG, owner of the existing twin pipeline. Other interests are BASF/Wintershall and E.On, 15.5% each, and Gasunie and GDF Suez, 9% each.
OMV and Gazprom also signed an agreement on main terms and conditions of an asset swap under which OMV would acquire a 24.98% interest in the development of Blocks 4A and 5A of the Lower Cretaceous Achimov deposit of Urengoy oil, gas, and condensate field "in exchange for Gazprom's participation in OMV assets," according to an OMV statement.
Gazprom entered a similar deal for Achimov development with Wintershall in September.
More recently, OMV and Gazprom have discussed the supply of oil to OMV from Gazprom companies.
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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.