RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2015-06-04 18:10:00

RUSSIA ORIENTED WINTERSHALL

RUSSIA ORIENTED WINTERSHALL

BASF's subsidiary Wintershall will continue investing in its core regions, with Russia remaining the most important area for the company.

"Europe will only have energy security with Russia. These aren't geopolitical but geological facts, and that's why Russia will remain an important part of the energy provision for Western Europe" CEO Mario Mehren said on Tuesday.

Mehren took the helm of the company on Monday.

Germany's Wintershall is working with Gazprom in the joint Achimgaz project in Siberia.

"Achimgaz is a prime example of efficiency, performance and innovative strength," he said, explaining that in the 2014 the project registered a 40% year-on-year increase in production to 3.4 billion cubic meters of natural gas.

"Our Russian joint ventures produce a total of 28 billion cubic meters of natural gas each year. To put that in clear terms: that corresponds to one third of the annual requirement in Germany" Mehren added, unveiling a 500 million euros investment in the existing Achimgaz, Yuzhno Russkoye and Volgodeminoil projects in Russia until 2018.

Tuesday's announcement is nothing new. Similarly, in March, the company said it would have increased its exposure in Russia.

According to the German company, its production increase by an average of four percent over the last decade, which is reportedly more than double the average growth in the industry.

Wintershall also confirmed its commitment to the Norwegian continental shelf.

"We are transferring the Maria Field into production as our first self-operated discovery in Norway" Mehren said.

Also on Tuesday, Statoil said it sees some signs of recovery in Europe's gas demand.

"There are some positive signs that hopefully will at some point be a turning point for gas," he told

reuters.com

Tags: RUSSIA, EUROPE, WINTERSHALL, GAZPROM, GAS
Chronicle:
RUSSIA ORIENTED WINTERSHALL
2022, July, 4, 12:44:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
RUSSIA ORIENTED WINTERSHALL
2022, July, 4, 12:43:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
RUSSIA ORIENTED WINTERSHALL
2022, July, 4, 12:40:00
GERMAN UTILITIES COLLAPSE
German leaders are stepping up warnings of impending turmoil and natural-gas shortages in Europe’s biggest economy, which relies on Russia for about one-third of its energy.
RUSSIA ORIENTED WINTERSHALL
2022, July, 4, 12:35:00
IRANIAN OIL RISES
Iran could increase production to levels before the sanctions, he said, without giving an estimate of current output.
RUSSIA ORIENTED WINTERSHALL
2022, July, 4, 12:30:00
S.KOREAN NUCLEAR FOR CZECH
"A nuclear power generation project requires more than a decade for construction and involves operations for more than 60 years. South Korea is a reliable partner in terms of economic feasibility, safety, and ensuring the construction period," Lee said.
RUSSIA ORIENTED WINTERSHALL
2022, June, 28, 12:10:00
OIL PRICE: BRENT NEAR $117, WTI ABOVE $111
Brent climbed $1.9, or 1.7%, to $116.99, WTI rose $1.8, or 1.6%, to $111.36 a barrel.
RUSSIA ORIENTED WINTERSHALL
2022, June, 28, 12:05:00
OPEC OIL PRICE: $112.35
The price of OPEC basket of thirteen crudes stood at $112.35 a barrel
All Publications »