RUSSIA & CHINA DEAL
Moscow and Beijing will sign an agreement on the pipeline shipping gas from Western Siberia to China by the end of the year, Foreign Minister Wang Yi said on Monday, adding that his government will intensify trade ties with Russia in the coming months.
"The China-Russia relationship is not dictated by international vicissitudes and does not target any third party... And the friendship between our two peoples provides a strong foundation for strengthening strategic cooperation between the two sides" Wang Yi commented on Sunday as reported on the website of the Ministry of Foreign Affairs of China's.
The Minister said that the bilateral trade should reach US$100 billion by the end of the year, with a strong focus on financial, oil and gas, and nuclear-power sectors.
"We will start full construction of the eastern route of the natural gas pipeline and sign an agreement on the western route of the pipeline. We will accelerate the joint development and research of long-distance, wide-body passenger jets. We will start strategic cooperation on the development of Russia's Far Eastern region" the Minister added.
According to the preliminary deal signed in November, Gazprom would ship 30 bcm (1 tcf) of gas per year to China National Petroleum Corporation through the Altai gas pipeline. Price remains the main hurdle.
Meanwhile, over the last days, Ukraine's stored gas decreased below the 8,000 mcm threshold. Data published by GIE on Sunday indicate that Ukrainian facilities are 24.88% full.
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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.