BP’s energy outlook this year foresees a compound annual growth rate of gas demand at 1.8% until 2035. In the OECD, this growth results from the coal-to-gas transition in power generation. The US major ExxonMobil supports this view, forecasting gas will account for 30% of the power sector and will equal coal by 2040.
"We have such low production costs that we will always be able to cut the selling price by a dollar or two when it comes to fighting off a rival," said a senior source at Gazprom.
Gazprom's Deputy Chief Executive Alexander Medvedev said the BG holdings could be included in an asset swap deal between Gazprom and Shell that was announced last year. He did not say what the BG holdings were or where they were located.
Shipping 110bn m³/yr would cost Gazprom a quarter of the amount it would spend if it used Nord Stream, while booking capacity for 70bn m³/yr would still cost it only a third as much.
According to a development plan approved this month by the energy ministry, Leviathan's three anchor customers for its phase 1 development are expected to be the domestic Israeli market, the Jordanian power company Nepco and the Egyptian consortium Dolphinus Holdings, which was supposed to purchase gas from Tamar last year in a deal that has not materialized.
Накопленные дивиденды «Газпрома» к 2045 году составят 6,9 млрд долл. за вычетом налогов. Накопленная экономическая эффективность за 25 лет для «Газпрома» при реализации маршрута через «Северный поток — 2» в 2–2,7 раза выше в сравнении с маршрутом через ГТС Украины, что соответствует 45–78 млрд долл. США.
What determines dependence on Russian gas is what buyers buy, and the market decides that. Gas follows the price.
For us it is a principal issue. Gazprom has launched a programme to optimise expenses in the central corridor which now has free capacities which also cost us money. We will hence liquidate 4,300 km of pipes and close 62 compressor stations.
Iran is regaining market share at a faster pace than analysts had projected since sanctions were lifted in January, helped by securing more tankers through a temporary shipping insurance fix.
Last year, Norway’s derived half of its oil and gas revenue from production taxes, 43% from the government’s direct ownership in oil and gas assets, and 7% from dividends paid by Statoil ASA, in which the government has a 67% stake.
The two companies signed the contracts after very difficult negotiations on Saturday evening. Managing Director of Sadaf Petrochemical Assaluyeh Company Ahmad Jazayeri said the Swiss company will help his company to build a plant for production of the synthetic polymer ESBR, a strategic product used in the petrochemical industry and rubber manufacturing.
The new discovery is 12 km off shore, and 10 km north of last year’s find, Nooros. The well was drilled in water depth of 25 m and reached a total depth of 3,750 m and found about 62 m of net gas pay in high quality Messinian sandstones and with "excellent reservoir properties," according to Eni.
Oil companies BP (BP.L) and Det norske (DETNOR.OL) have agreed to merge their Norwegian businesses in a $1.3 billion all-share deal to cut costs, challenge Statoil's (STL.OL) dominance of the local industry and look for more acquisitions.
As many as 120,000 oil workers will have lost their jobs in Britain by the end of the year compared to mid-2014 when oil prices started declining and unleashed sector-wide cost cuts, the industry's lobby group said on Friday.
In 2015 global demand for primary energy grew by only 1%, significantly slower than the 10-year average. This reflected continued weakness in the global economy and lower growth in Chinese energy consumption as the country shifts from an industrial to a service-driven economy.