SOUTH STREAM = TURKISH STREAM
The launch date of the Turkish Stream will not differ much from the South Stream schedule, official representative of the Russian gas producer Gazprom Sergey Kupriyanov told the Kommersant FM radio station.
"As soon as we agree on the exit point on the Turkish coast, the work will kick off," he said.
Gazprom representative also added that the Turkish Stream project does not have an official name yet. "There is no exact name yet, but apparently it will be called just like that," Kupriyanov said, adding that Turkey would prefer this name.
He also commented on the announcement made by EU Energy Commissioner Maros Sefcovic on Wednesday. "What surprises most in those comments made by Mr. Sefcovic on Wednesday is the fact that, excuse my tautology, he was surprised by the information that he received at the meeting in Gazprom and the Energy Ministry. The thin is that the parameters of this project were made public back in December, and nothing totally new was announced," Kupriyanov said. He added that "that was not our decision but a forced solution that we had to accept."
"The volumes totaling 63 billion cubic meters (of gas - TASS) that were planned for supplying via the South Stream will now be redirected through Turkey. The route has changed, but it did not change due to our whim either," he added.
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GAZPROM - The parties discussed relevant issues related to bilateral cooperation, including the Baltic LNG project. Emphasis was placed on the priority measures aimed at developing a joint design concept (pre-FEED).
BHGE - U.S. Rig Count is up 11 rigs from last week to 1,063, with oil rigs up 8 to 869, gas rigs up 4 to 193, and miscellaneous rigs down 1 to 1. Canada Rig Count is up 13 rigs from last week to 195, with oil rigs up 8 to 127 and gas rigs up 5 to 68.
REUTERS - Brent crude futures had risen $1.02 cents, or 1.3 percent, to $81.28 a barrel by 0637 GMT. The contract dropped 3.4 percent on Thursday following sharp falls in equity markets and indications that supply concerns have been overblown. U.S. West Texas Intermediate (WTI) crude futures were up 80 cents, or 1.1 percent, at $71.77 a barrel, after a 3 percent fall in the previous session. WTI is on track for a 3.5 percent drop this week.
EIA - Brent crude oil spot prices averaged $79 per barrel (b) in September, up $6/b from August. EIA expects Brent spot prices will average $74/b in 2018 and $75/b in 2019. EIA expects West Texas Intermediate (WTI) crude oil prices will average about $6/b lower than Brent prices in 2018 and in 2019.