TURKMEN GAS RISING
Finally, Turkmenistan is systematically increasing the volumes of contracts for the gas supply to China. And taking into account the growing demand for gas in China, the gas supplies from Turkmenistan to China will continue to grow.
So, the amount of those, willing to get more Turkmen gas, is increasing. But the volumes of Turkmen gas produced today will not be enough for all. It is necessary to develop new deposits and new investments to enter new routes.
The great demand for Turkmen gas and political support for its transportation projects and procurement in all directions can be a good incentive for foreign investors to pay attention to Turkmenistan. In this situation, the compensation for investors has been guaranteed.
Moreover, given the West's political interest in Turkmen gas, one can expect that those investing in Turkmen gas fields will receive certain preferences in the US and Europe. Thus, the major oil and gas developers will get great benefits as a result of doing business in Turkmenistan.
Taking into account the above-mentioned, it seems like it won't be Turkmenistan trying to attract investors, but the opposite - the investors will compete for the favor of the Turkmen leadership.
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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.