Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2015-09-08 18:11:00

GAZPROM'S UK DEAL

GAZPROM'S UK DEAL

Ministers are to examine a deal that hands Russia's Gazprom interests in the UK North Sea, amid calls for Britain to send "a clear message" to Vladimir Putin over Ukraine.

The state-backed energy group's purchase of a 50 per cent stake in BASF subsidiary Wintershall's North Sea business, which includes the Wingate gas platform and several offshore UK exploration licences, will be an early test for energy secretary Amber Rudd.

Her Liberal Democrat predecessor Ed Davey, backed by Downing Street, forced Russian billionaire Mikhail Fridman to put a dozen gasfields acquired by his $10bn fund L1 Energy up for sale.

Gazprom, which will take the North Sea stake as part of a revived multibillion-euro asset swap with BASF, the German chemicals group, has yet to seek a "letter of comfort" from the Department of Energy and Climate Change.

The company is not under any obligation to seek such an assurance but could find itself wrongfooted by any opposition if were ministers unhappy.

"We will examine the detail of this deal closely to consider its implications, as we do for any deal involving assets within British waters," a department official said.

Sir Gerald Howarth, who chairs the all-party Ukraine group, said the response to the Gazprom deal should be "consistent" with how LetterOne, Mr Fridman's investment vehicle, was treated.

"The message that we send to President Putin has to be a consistent one," said the former defence minister. "There is no evidence that they are calling the dogs off in Ukraine."

Sir Gerald said the government needed to remain focused on the Ukraine issue, despite other major foreign policy issues.

"Things like the migrant crisis consume the entire effort of government, people literally at their desks sometimes at night dealing with them," he said.

"But what is going on in Ukraine is very serious, with a major impact on Europe, and if we are serious we need to keep sending a clear message to Putin."

The Gazprom deal may, in theory, raise similar concerns to those voiced by senior UK ministers, in relation to L1, about the potential vulnerability of a Russian takeover of North Sea assets as a fall in oil and gas prices encourages producers to offload their operations.

Their concerns centre on the risk of a repeat of what happened when sanctions were imposed on Iran, which led in 2010 to the shutdown of the North Sea's Rhum field, co-owned by BP and the National Iranian Oil Company. Output only restarted in October.

Ministers have argued that there is unlikely to be any swift reversal of sanctions on Russian companies and individuals and, to the contrary, western economic penalties are more likely to be increased.

Wingate, which was brought on stream in 2011, is an unmanned platform producing about 2.5m cubic metres of natural gas a day, less than the combined production of the fields L1 bought from Germany's RWE Dea business.

The deal with BASF gives Gazprom full control of a jointly operated European gas trading and storage business, the main strategic rationale.

But it also gives the Russian group a significant interest in oil and gas production in western Europe. Wintershall operates 22 platforms in the North Sea, the vast majority of which are in waters off the Netherlands.

A person familiar with Gazprom's thinking said the speed at which the BASF deal had been done meant it had not applied for the letter of comfort. The asset swap has been approved by the European Commission.

ft.com

-----

More: 

BASF & GAZPROM DEAL 

СЕВЕРНЫЙ ПОТОК - 2 

GERMANY DEFENDS GAZPROM 

ГАЗПРОМ ВЫРОС НА 50% 

THE NEW RUSSIAN EMPIRE – 6 

THE NEW RUSSIAN EMPIRE – 5

 

 

 

Tags: GAZPROM, BASF, BRITAIN

Chronicle:

GAZPROM'S UK DEAL
2017, December, 15, 12:50:00

LUKOIL'S PLAN: $50

LUKOIL - The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth in the share of high-margin projects in the overall production. In the Downstream business segment, the focus is on the improvement of operating efficiency and selective investment projects targeted at the enhancement of product slate.

GAZPROM'S UK DEAL
2017, December, 15, 12:45:00

BP INVESTS TO SOLAR

BP - BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. The great majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP and BP will have two seats on the board of directors.

GAZPROM'S UK DEAL
2017, December, 13, 12:40:00

OIL PRICE: ABOVE $64 YET

REUTERS - Brent crude was up 69 cents, or 1.1 percent, at $64.03 a barrel by 0743 GMT. It had settled down $1.35, or 2.1 percent, on Tuesday on a wave of profit-taking after news of a key North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015. U.S. West Texas Intermediate crude was up 45 cents, or 0.8 percent, at $57.59 a barrel.

GAZPROM'S UK DEAL
2017, December, 13, 12:35:00

RUSSIAN-TURKISH NUCLEAR

ROSATOM - On December 10, 2017, the construction start ceremony took place at the Akkuyu NPP site under a limited construction licence issued by the Turkish Atomic Energy Agency (TAEK). Director General of the ROSATOM Alexey Likhachev, and First Deputy Minister of Energy and Mineral Resources of the Turkish Republic, Fatih Donmez, took part in the ceremony.

All Publications »