Poorly conceived policies could restrict development of abundant domestic natural gas resources and deny the US energy security, economic, and geopolitical opportunities.
Last month, the state-owned Southern Gas Corridor Company (SGCC) raised $1bn in a 10-year eurobond at 6.875% yield. However, it met only half of its original plan.
The prospect of Sino-Russian gas cooperation could be very broad and more importantly decades of negotiation, joint projects and interactions have laid the foundation for future cooperation.
“Today, we signed a number of important documents aimed at further advancing the dialogue with our strategic partner OMV. Our relationship is no longer limited to business. By consistently enhancing our cooperation, we are moving toward our ambitious goals – increasing the supplies of Russian oil and gas to Europe and developing the scientific and technical potential of our companies.”
Natural gas consumption in the 28-nation European Union grew by some 4% last year to 426.3bn m3, according to latest estimates from Eurogas, the trade association representing 43 gas wholesale and distribution companies.
The world’s biggest oil exporter lost ground to rivals in nine out of 15 top markets between 2013 and 2015, including China, South Africa and the US, according to an analysis of customs data.
Even if demand can rise to meet existing and under construction supply, this doesn't necessarily support the development of a raft of proposed projects.
The deal, which resolves arbitration proceedings between E.ON and Gazprom, will lead to a positive one-off effect of about 380 million euros ($425 million) on E.ON's core earnings (EBITDA) in the first quarter of 2016.
Germany consumed 5% more gas and its imports were 13% higher than in 2014. But the surprising statistic is that its 2015 exports of gas grew by 35% year-on-year to top 30bn m3.
Turkey has for the first time imported liquefied natural gas (LNG) from the US in 2016, said the message from Turkey’s Energy Market Regulatory Authority (EMRA).
Rosneft set a new record, having increased hydrocarbon production up to 254.2 mmtoe (5.16 mmboed). Development drilling meterage increased by 36% and reached 6.9 mln meters. More than 1.8 thousand of new wells were commissioned.
The parties addressed strategic bilateral cooperation. It was noted that the collaboration between Gazprom and Chinese energy companies and financial institutions was consistently developing.
The deal will give Calgary-based TransCanada a strategic position in the Marcellus and Utica shales of Pennsylvania, Ohio and West Virginia, the most promising regions in the US for gas production growth.
The first export is a significant milestone for the Gorgon project, which has been hit by delays and a jump in costs since construction started, as it begins generating revenue for Chevron and its partners.
In November 2011, Iraq signed a $17 billion deal to form a joint venture to gather, process and market gas from three oil fields in the oil-rich province of Basra. The fields are the 17.8 billion-barrel Rumaila, the 4.1 billion barrel Zubair field and the 8.6 billion barrel West Qurna Stage 1.