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2015-02-28 18:25:00

RUSSIAN GAS: FROM 14 TO 130 BCM

RUSSIAN GAS: FROM 14 TO 130 BCM

Russia's gas supplies to the Asia-Pacific Region by 2035 can rise ninefold from 14 to 130 billion cubic meters, Russian Energy Minister Alexander Novak said at the Krasnoyarsk economic forum.

The minister noted that oil and coal supplies to the region by 2035 will double.

Russia-China energy cooperation

A milestone event for Russia's energy sector took place in May last year when gas giant Gazprom and China's CNPC struck a major deal on gas supplies to China. The contract stipulates that 38 billion cubic meters of Russian gas will be annually supplied to China via the eastern route over a period of 30 years. The contract is worth over $400 billion. The deal between the two companies was signed in the presence of Russian President Vladimir Putin and Chinese leader Xi Jinping.

At the Asia-Pacific Economic Cooperation (APEC) summit in Beijing in early November Russia's Gazprom also signed a framework agreement on gas supplies to China via the western route. A proposed pipeline, known as the Altai route, is intended to carry gas from deposits in Western Siberia to North-Western China. Gas supplies to China via that route may reach 30 billion cubic meters a year. In 2015 the countries will sign at least three key documents on that project.

Energy cooperation between Russia and China also includes the oil industry. Russia's largest oil company Rosneft supplies oil to China under a long-term contract. The $270 billion deal with China's CNPC was signed in 2013, and it envisages supply of about 360 million metric tons of oil to China over 25 years. This year the two energy giants agreed to deepen strategic partnership.

oilandgaseurasia.com

Tags: RUSSIA, ASIA, CHINA, GAS,

Chronicle:

RUSSIAN GAS: FROM 14 TO 130 BCM
November, 20, 09:05:00

INDIA'S GAS WILL UP

REUTERS - India’s natural gas consumption is expected to rise to 70 billion cubic metres (bcm) by 2022 and 100 bcm by 2030, according to a government think tank and the Oxford Institute of Energy Studies, up from 50 bcm now. India burns just 7 percent of what top user the United States consumes in a year with about a quarter of India’s population.

RUSSIAN GAS: FROM 14 TO 130 BCM
November, 20, 09:00:00

NORWAY SELLS OIL & GAS

Norway, which relies on oil and gas for about a fifth of economic output, would be less vulnerable to declining crude prices without its fund investing in the industry, the central bank said Thursday. The divestment would mark the second major step in scrubbing the world’s biggest wealth fund of climate risk, after it sold most of its coal stocks.

RUSSIAN GAS: FROM 14 TO 130 BCM
November, 20, 08:55:00

OIL PRICES UP

WSJ - Light, sweet crude for December delivery rose $1.41, or 2.6%, to $56.55 a barrel on the New York Mercantile Exchange, snapping a three-session losing streak. Brent, the global benchmark, advanced $1.36, or 2.2%, to $62.72 a barrel.

RUSSIAN GAS: FROM 14 TO 130 BCM
November, 20, 08:50:00

U.S. RIGS UP 8 TO 915

U.S. Rig Count is up 327 rigs from last year's count of 588, with oil rigs up 267, gas rigs up 61, and miscellaneous rigs down 1 to 1. Canada Rig Count is up 24 rigs from last year's count of 184, with oil rigs up 9 and gas rigs up 15.

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