Ever since new natural gas resources have become available as a result of horizontal hydraulic multi-stage fracking, there have been many attempts to quantify how beneficial these new resources are to the U.S. economy. Since natural gas is often used for power production and as a feedstock for the petrochemical industry, it makes sense to… Keep reading →
Ukraine’s deadline for paying its Russian natural gas debt – roughly $2 billion owed to Gazprom – expired last night. Gazprom has said it will shut off gas supplies at 10:00 Moscow time June 3rd, meaning European nations receiving gas via pipelines that transit Ukraine could also be cut off. [Radio Free Europe] The Nigerian… Keep reading →
After some initially-confused western reporting, it’s now clear Russia’s Gazprom finally did close a long-term natural gas deal with Chinese national oil company CNPC. However, there is still wide speculation about the agreed price – a sticking point that held up the deal’s closure for a decade – and equally if not more importantly, questions… Keep reading →
It appears Gazprom and CNPC reached an agreement on a widely-speculated deal that was expected to be consummated upon Putin’s China visit this week. Reuters is reporting a sales and purchase agreement was struck, but the New York Times reports it could just be a memorandum of understanding, which is not binding and indicates ongoing… Keep reading →
Gazprom and CNPC look set to sign a 30-year, 38 billion cubic meter per year supply deal this week at price between $350 and $400 per 1,000 cubic meters. “The deal has been on the table for over 10 years, as Moscow and Beijing have negotiated back and forth over price, the gas pipeline route,… Keep reading →
A Russian natural gas supply cutoff to Ukraine due to unpaid bills in the amount of $3.51 billion – which could occur next month – would also indirectly impact the European Union. Over half of Russia’s gas exports to Europe transit the Ukraine. A recent Bloomberg article draws the conclusion that it will be extremely difficult for Europe… Keep reading →
It appears increasingly likely that Russia’s Gazprom will finally ink a long-term natural gas supply deal with Chinese national oil company CNPC next week, although price negotiations continue, as they have for over a decade. China is set to receive greater volumes of gas from Turkmenistan – and recently met with the country’s President Gurbanguly… Keep reading →
The battle over fracking in Colorado is heating up with major funding flowing into both sides of the debate. Several ballot initiatives regarding the oil and gas well completion technology will be voted on this November. Celebrities like Yoko Ono and wealthy activists including Tom Steyer are supporting anti-fracking legislation, or in many cases, laws… Keep reading →
On Tuesday, G7 energy ministers wrapped up a special meeting in Rome discussing how Europe, which relies on Russia for about one third of its natural gas supplies, could replace Russian natural gas. DW (Deutsche Welle) reports that the meeting of ministers from the US, UK, Germany, Canada, Italy, France, and Japan is “part of… Keep reading →
Piping Israeli gas to liquefaction plants in Egypt is the most commercially logical option but remains politically risky. The announcement of a letter of intent between the partners in Israel’s giant Tamar natural gas field and the Spanish owners of a liquefied natural gas plant on Egypt’s Nile Delta coast is a major breakthrough, one… Keep reading →
