The Ukraine crisis has reinvigorated European efforts to diversify its natural gas supply sources away from Russia amid reliability concerns, but numerous obstacles stand in that path. “Added to that, Europe is contractually obliged to continue taking delivery of Russian gas. Bernstein makes the point that Gazprom has about 120 bcm of take-or-pay contracts –… Keep reading →
The US LNG export debate received a shot in the arm for the Ukraine crisis, with several government officials calling for wholesale LNG export license approval that could ostensibly allow US companies to ship LNG to European gas consumers in the event of a Russian-initiated supply shortage. The only problem with that logic is exports… Keep reading →
Russia’s President Vladimir Putin said he will deposit his salary in a shady bank targeted by western sanctions. The bank deals a lot with the Kremlin and Russian energy businesses, including Gazprom. “Little has been known about Bank Rossiya, which has risen to become the country’s 15th largest bank by assets last year from 54th… Keep reading →
The Arctic – a cohesive region located north of the Arctic Circle – falls under the separate jurisdiction of eight countries with a population of about 4.2 million people and an annual economy of about US$230 billion. Interestingly, the World Economic Forum’s Global Agenda Council on the Arctic draws a nice comparison to “emerging markets”… Keep reading →
Economic sanctions imposed on Russia by the US and EU in response to Crimea’s annexation from Ukraine are beginning to ripple through the energy industry. The South Stream pipeline that would bring Russian gas to Europe bypassing Ukraine was scheduled to start up in 2015. However, the pipeline now faces legal problems as companies involved… Keep reading →
A Marquette political science teacher is taking a year off to focus on a business that allows smart phone users to pool water, power and natural gas usage data so as to more effectively manage consumption. It’s interesting because the application does the job smart meters promise without waiting for their truncated deployment or relying… Keep reading →
President Obama upped the ante yesterday in the burgeoning trade war with Russia over the annexation of Crimea from Ukraine when he announced an executive order that authorized sanctioning Russian economic sectors. The first round of sanctions targeted individual Russian officials, but now enterprises involved in Russia’s energy sector – including banks, trading houses and… Keep reading →
Skip down about halfway through this article if you’ve been following coverage of the Ukraine situation’s impact on European gas markets. The interesting stuff is towards the end where analysts discuss Gazprom’s gas pricing strategy aimed to undercut competition post-2020. It’s funny that the piece basically debunks its own headline. [Financial Times] US natural gas… Keep reading →
One day after a disputed and widely deemed unlawful referendum in Crimea, the Crimean Parliament declared Crimea’s independence from Ukraine, formally asking Russia to annex it, the New York Times reports. This comes after 96.6% of voters in Crimea support joining Russia. With this, the crisis in the Ukraine hit its peak to date and… Keep reading →
In one of the better pieces dealing with European gas supply issues associated with the Russia-Ukraine political crisis, this article cites a recent study published by the Oxford Institute for Energy Studies which pinpoints Ukrainian fiscal instability as the most likely cause of a European gas supply disruption. “The difficulties that Naftogaz Ukrainy is having,… Keep reading →
