RUSSIAN GAS KEY
Europe could take advantage of global LNG dynamics, but much of the evolution of the European LNG market depends on Gazprom's decisions in the short to medium term, The Oxford Institute for Energy Studies wrote in a note published on Monday.
'Gazprom is occupied on many fronts in both political and commercial spheres. At some point however the need to adopt a more market-oriented strategy is likely to rise on its list of priorities. While the timing of this is at present uncertain, the conclusions of this paper would strongly suggest that this is a development that players in the wider LNG-connected global system should be closely monitoring' Howard Rogers wrote.
According to the analysis, the LNG contract price levels have been pushed down 'to levels unimaginable just two years ago.' Rogers explained that the changes are due to warmer than normal winters in 2013 and 2014, slowing Asian LNG demand growth through 2014, and collapse of the oil price in late 2014. The factos are expected to slow developments down.
'With project economics challenged and cashflows crimped, investors in new gas supply projects, especially LNG, will inevitably hold back, cut costs and await a more positive market outlook.'
Europe will be a passive recipient of excess supply, which could offset declining domestic production. In the longer term, Russia will be the major player.
|October, 19, 11:30:00|
|October, 19, 11:25:00|
|October, 19, 11:20:00|
|October, 19, 11:15:00|
|October, 19, 11:10:00|
|October, 19, 11:05:00|
PLATTS - Norwegian natural gas exports to the UK jumped to their highest in six months Wednesday as consistently high UK prices incentivized flows normally only reserved for wintry periods.
AZERNEWS - The estimated cost of construction of nuclear power plant of Russian design in Uzbekistan will be about $ 11 billion, the launch of the first power unit has been planned for 2028, the Aide to the President of the Russian Federation Yury Ushakov said.
SHANA - Managing Director of the Iranian Gas Engineering and Development Company (IGEDC) Hassan Montazer Torbati said the supply of one billion cubic meters per day of natural gas by National Iranian Gas Company (NIGC) was one of the goals of the company by 2021.
WNN - China and Belgium have signed a framework agreement on cooperation in the peaceful use of nuclear energy. The agreement was one of several accords signed in Brussels yesterday during a meeting between Chinese Premier Li Keqiang and Belgian Prime Minister Charles Michel.