Europe will require considerable volumes of Russian natural gas for the foreseeable future, but EU members are increasingly unhappy with paying oil-linked prices for the fuel. In the latest attempt at loosening the old Soviet energy yolk from Central and Eastern Europe, EU regulators yesterday filed an antitrust suit against Gazprom that could total $15… Keep reading →
Reported by Julia Chatterley, written by Catherine Boyle The long-term prospects for the gas market are looking good, in spite of the current price pressures, the chief executive of Gazprom Export told CNBC. The natural gas industry has expanded rapidly in the last few years with the U.S. becoming a net exporter of the commodity… Keep reading →
Like something out of a Bacigalupi novel, a crop disease that attacks corn – known as Goss’s wilt – is blighting crops across the US. While bioengineered seeds are believed to be the main culprit, crop rotation helps limit the disease’s ability to spread, but demand for corn used in ethanol production disincentivizes such rotation.… Keep reading →
European Union countries’ ongoing drive to increase natural gas supply diversity – and lessen reliance on Russia – hinges on new pipeline projects, particularly the Southern Gas Corridor that would transport gas from the Azerbaijan to the European continent. During the recent Caspian Forum held in New York City, EU Special Representative for Central Asia,… Keep reading →
Here is a roundup of some of this week’s more interesting energy deals: The BP-led Shah Deniz consortium signed a 25-year sales agreement for more than 10 billion cubic metres per year of natural gas from the second phase of development at the giant Shah Deniz field offshore Azerbaijan. Shah Deniz will deliver gas directly… Keep reading →
There may be a shale oil deposit in Russia’s Siberian region larger than the Bakken. Exxon Mobil is investigating and oil service firms are “shipping equipment, technology and drilling crews from the Bakken and the Eagle Ford in Texas to Siberia, in what is becoming a full-scale west-east technology transfer.” [Financial Times] The Sudanese government… Keep reading →
Without stop-gap funding from congress by October 1st, the EPA could ‘Effectively Shut Down,’ leaving it with just a skeleton crew needed in case of emergency. The EPA has reportedly not shut down due to lack of funding since 1996. [AP] French oil major Total could sell its stake in giant Russian gas field Shtokman.… Keep reading →
Where do we begin? Breaking Energy featured the Russian energy business in a recent Quote of the Day and it’s not that we’re picking on the country, but the murky world of Kremlin insiders – many former KGB personnel – running oil and gas companies with shares listed on public exchanges is nothing short of… Keep reading →
Bad news for Gazprom: sources say that Russia is going to break the gas giant’s monopoly on LNG exports. “[State-controlled oil giant] Rosneft signed an agreeement with ExxonMobil to develop a LNG project in Russia’s Far East. [Independent gas producer] Novatek clinched a deal with CNPC for a joint development of the Yamal LNG project.” [Natural Gas Europe] Bad news for… Keep reading →
Brazilian billionaire Eike Batista faces regulatory scrutiny for potential illegal activity at petroleum company OGX. From luncheons with Madonna to reportedly selling his $19 million yacht for scrap, Batista’s highly-publicized fall from grace continues. [New York Times] Chinese national oil champion CNPC just bought into Novatek’s Yamal LNG venture, giving French Total and CNPC 20%… Keep reading →
