THE STRATEGIC TASK OF THE EU
"The strategic task of the European Union's Energy Union is to diversify sources and delivery routes of energy in order to guarantee energy security for the EU and make energy prices controllable," European Commission Vice President Maros Sefcovic said at a news conference in Brussels on Thursday.
He said the Energy Union's activities would not deprive Ukraine of incomes from transmitting Russian natural gas to Europe and ruled out the possibility of the EU ever being the cause of any anxiety about gas transit through Ukraine.
"There exists excellent cooperation between the EU and Ukraine. The EU is closely monitoring the volumes of natural gas stored in Ukraine. Today the country has 8 billion cubic meters in its depots, and this is enough for full-scale transit to Europe. However, it is essential to boost the reserves to 20 billion cubic meters by next winter," Sevcovic said. He also said it was up to the Ukrainian government to decide how much to import from Russia and how much to receive through reverse pipeline deliveries from Europe.
|October, 15, 12:30:00|
|October, 15, 12:25:00|
|October, 15, 12:20:00|
|October, 15, 12:15:00|
|October, 15, 12:10:00|
|October, 15, 12:05:00|
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.