This second of three articles on how Gazprom is attempting to revamp its natural gas export strategy in Europe addresses a crucial element for the strategy’s success: Gazprom’s accumulation of gas storage capacity in Germany. Driven by the fact that many governments in OECD Europe have made commitments to reduce carbon dioxide emissions to 20… Keep reading →
This first of three articles on how Gazprom is attempting to revamp its natural gas export strategy in Europe reviews Germany’s central role in this endeavor with specific focus on the traditional role of underground gas storage facilities. Germany is the second largest natural gas consumer in the EU, closely trailing the United Kingdom. Moreover,… Keep reading →
The EU Commission has intervened in construction of the South Stream gas pipeline on the grounds that deals signed between Russia’s Gazprom and seven European countries violate an EU law forbidding a company from acting as both pipeline operator and monopoly gas supplier. The EU energy commissioner will go to Moscow next month for talks… Keep reading →
Intensified competition between Russian gas giant Gazprom and Russian gas independent Novatek is showcasing the advantages to producers of LNG pricing flexibility, according to Eurasia Group Global Energy and Natural Resources analyst Leslie Palti-Guzman. Natural gas analysts frequently point out that there are three different pricing regions for gas – North America, Europe and Asia.… Keep reading →
Russian gas independent Novatek and Gazprom oil-producing arm Gazpromneft have agreed to a $2.94bln deal to buy Italian Eni‘s stake in SeverEnergia, which is expected to produce 36 billion cubic meters of gas and liquids by 2017, equivalent to two-thirds of Novatek’s production, according to Reuters. A joint venture of Eni and Italian Enel has a 49% stake in SeverEnergia, of which Eni controls 60%. Investment… Keep reading →
ExxonMobil is famously tight-lipped and conservative, and its quarterly earnings calls rarely produce much in the way of stunning news or salacious gossip. But the company’s discussions of ongoing operations at important projects – such as massive oil sands investments, Russian gas export facilities and Alaskan infrastructure targets – touch on some of the trickiest and… Keep reading →
This week’s biggest deal happened in Washington, DC, where the House and Senate finally reached an agreement to reopen the US government and raise the debt ceiling. But there were also several energy-specific transactions and pending transactions that merited notice: Mexico’s state-controlled oil and gas company Pemex has voided a tender for the second phase… Keep reading →
As new infrastructure is constructed to move oil in and out of the US storage hub in Cushing, Oklahoma, the volume and quality of the crude stored at any given time is becoming increasingly difficult to calculate, confounding traders of benchmark WTI. [Reuters] Former EPA chief Lisa Jackson took a job promoting energy efficiency at… Keep reading →
Carl Icahn has bought up 61 million shares of Calgary-based Talisman Energy, which equates to about 6% – or $300 million worth – of the company’s stock. “This is an unfocused company that probably needs to shed more assets or be taken over completely.” Icahn previously set his sights on companies such as Chesapeake and Transocean… Keep reading →
The shale gas revolution and the flood of cheap gas it unleashed have been great for US economic competitiveness, but its effects are far less favorable for Europe, said Paolo Scaroni, chief executive of Italy’s Eni, at the Council on Foreign Relations in New York yesterday. “Gas prices in Europe are three times as high as… Keep reading →
