2015-08-04 19:15:00
RUSSIAN GAS UP
Russian gas sales to Europe jumped to an all-time high in July, gas export monopoly Gazprom said on Monday, as European customers capitalised on a steep fall in prices.
Gazprom's gas prices are pegged to oil with a six-month lag, which means its customers are currently paying the equivalent of $45-$50 per barrel seen in January 2015 when oil prices crashed following a decision by OPEC not to reduce output.
The jump in exports will help Gazprom to endure one of the worst years in its history. The Kremlin-controlled company lost its position as western Europe's top gas supplier to Norway earlier this year and its production risks collapsing to an all-time low due to sluggish demand and a decline in upstream investments.
Gazprom's sales at home have been hit by Russia's flagging economy, crippled by Western sanctions over the Ukraine conflict and a drop in the price of oil.
On the export market, Gazprom is facing sluggish demand in Europe due to a weak economy. Its only hope that the trend would be reversed is linked to low gas prices.
On Monday it said it had exported 14.29 billion cubic metres of gas to Europe and Turkey in July.
"This is an all-time high level for July and a biggest monthly level for the last year and a half. Exports in July 2015 are comparable to supplies during peak heating season demand during autumn and winter months," Gazprom said.
Gazprom, which normally accounts for around 8 percent of Russian GDP, is also hoping to boost gas sales later in the year when it holds its first ever auction in September to sell additional gas to northwest Europe.
The company has been hit by a pricing dispute with Ukraine, which is battling pro-Moscow insurgency in its eastern regions. Ukraine stopped buying Russian gas starting from July 1 after EU-brokered talks collapsed without a deal on how much Kiev should pay for its supplies.
reuters.com
More:
Chronicle:
2022, November, 28, 09:59:00
INTERNATIONAL CONGRESS AND EXIBITION TURKEY & BLACK SEA OIL AND GAS
International Congress and Exhibition Turkey & Black Sea Oil and Gas is an international, professional platform, bringing together over 200 C-suite executives from vertically integrated oil companies, general directors, CTOs of oil refineries, gas processing plants and petrochemical facilities, initiators of investment projects on oil and gas extraction from Turkey and countries of the Black Sea area, officials of regulatory authorities, licensors of production technologies and world suppliers for the industry.
2022, November, 28, 09:58:00
TRANSPORTATION OIL AND GAS CONGRESS 2023 (TOGC 2023)
Transportation Oil and Gas Congress 2023 (TOGC 2023) takes place on February 20-21, 2023. The Congress brings together representatives from the whole pipeline chain and focuses on both strategic and technical issues of the oil and gas pipeline transportation.
2022, November, 28, 09:57:00
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
2022, November, 28, 09:55:00
EGYPT LNG UP BY 14%
Egypt has two LNG export facilities -- the 7.2 million mt/year Shell-operated Idku facility and the smaller Eni-operated 5 million mt/year Damietta plant.
2022, November, 28, 09:50:00
VIETNAM NEED COAL
Under this baseline scenario, coal would remain the largest source of energy in the country until 2030, with 11 new coal-fired power plants to be built, raising the coal-fired power capacity from over 21 GW in 2020 (nearly 24 GW in 2021) to 30 GW in 2025 and over 36 GW in 2030.
2022, November, 28, 09:45:00
UAE CLEAN ENERGY
“The UAE could be a key player and deliver 25 percent of the production of the global low-carbon hydrogen market by 2030,” the report reads.
2022, November, 28, 09:44:00
DISCUSSING LNG MARKET TRENDS AT LNGCON 2023
The closed-door International LNG Congress 2023 assembles top-level management and technical representatives of the LNG industry to discuss prevailing questions and present innovative solutions in Dusseldorf, Germany on March, 6-7, 2023.