The Tangguh Expansion Project will also bring a positive contribution to Indonesia and the Papua Barat Province starting in 2016, supporting economic growth and providing 10,000 valuable jobs spread over the project period.
"Memorandum of understandings (MoUs) worth over $80 billion to be spent on investments in oil and gas infrastructure, pipelines, refineries, power, facility refurbishments and upstream have been signed with Chinese companies,"
"Turkey needs to diversify its imported energy resources. Turkey's approach to Russia will bear fruit in early October. The feasibility of the Turk Stream natural gas pipeline project, which Putin proposed in late 2014, may begin later this year. If all things go smoothly, we may see the Russian molecules in early 2019 via a new pipeline,"
72.4% of the overall scope of the work is done, which is ahead of schedule by about 2.5%. $12bn have been spent to date from total SD2 cost estimate of $24bn including an inflation rate for the period 2014-2020
The parties addressed further steps in the bilateral strategic partnership in the gas industry, particularly Russian gas exports to China. Among other issues discussed were prospects for cooperation in the field of underground gas storage and power generation in China.
In 2015 Gazprom increased gas exports to the region by 8% compared with 159.4bn m³ in 2014. The latest official statistics also indicate that Gazprom's gas exports experienced significant growth in the first four months of 2016.
The Calgary-based pipeline operator filed papers late Friday seeking arbitration under the North American Free Trade Agreement, arguing that TransCanada had every reason to believe it would win approval to build Keystone XL.
It is absolutely compatible with the Energy Union. It will be sustainable, affordable and help security of supply, he said. It will increase liquidity in Europe but nobody will be forced to buy the gas, which will be priced against hubs.
"The Kingdom's oil policies are rooted in responsibility, and Saudi Arabia is seeking to maintain that balance while also giving heed to moderate prices for producers and consumers,"
“The decline in prices is unlikely to lead to a significant reduction in production from existing producers because the high fixed costs of building the infrastructure have been paid and marginal production costs are relatively low,” said Ms Heath.