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2015-06-03 19:00:00

RUSSIA & CHINA PIPELINE

RUSSIA & CHINA  PIPELINE

China started construction last week of a pipeline to receive Russian gas, Russian state gas company Gazprom said on Tuesday.

Russia and China clinched a $400-billion gas deal last year to build the Power of Siberia pipeline. Russia will invest $55 billion for the Russian section, including bringing new gas fields on stream.

China's CNPC, Gazprom's partner on the project, said its pipeline company had signed an agreement with CNPC's pipeline project team on building a portion of the Russia-China eastern gas pipeline starting from Heihe on the border and running to Changling in Jilin province.

The report, posted on the company's website last week, said it marked "the start of the execution stage from preparation phase".

It added that the Chinese side of a trunk line would cover nine provinces and cities and would end in Shanghai on the east coast. The whole trunk line will be split into three sub lines, each of which would need regulatory approval.

It gave no further details.

The Power of Siberia pipeline should deliver 38 billion cubic metres of gas per year to China over 30 years, with first deliveries scheduled for 2019.

Gazprom also said that talks on the so-called Western route which would connect operating fields with China were progressing at a good pace. (Reporting by Olesya Astakhova in Moscow and Aizhu Chen in Beijing.

reuters.com

Tags: RUSSIA, CHINA, GAS, PIPELINE, GAZPROM, CNPC

Chronicle:

RUSSIA & CHINA  PIPELINE
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  PIPELINE
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  PIPELINE
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  PIPELINE
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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