Rosatom and the Atomic Energy Commission of Costa Rica (CAEC) on 3 June signed a memorandum of understanding (MOU) on cooperation in the field of peaceful uses of atomic energy.

If your business case depends on the cost of energy or the cost of storage remaining where they are, ask yourself, what if the cost goes down 50%? That’s only 3 years of decline at 20%/year.

Gazprom reported the average production cost of natural gas in 2015 at ₽1643 per 1000 cubic meters (mcm) or $27.09/mcm or $0.84/MMBtu. The corresponding numbers for 2014 are ₽1470/mcm, $38.73/mcm and $1.21/MMBtu. The cost in US dollars is affected by the devaluation of Russian ruble. The average US dollar rate in 2015 was ₽60.66 compared with ₽37.97 in 2014.

The drilling cost per foot, based on total depth, and the completion cost per foot, based on lateral length, are both projected to maintain these lower cost trends through 2018. Sustained lower upstream costs may affect near-term oil and natural gas markets, and ultimately, the prices of these fuels.

EIA: Fuel economy improvements show diminishing returns in fuel savings