... its grip on its “
good friends
”, i.e. the major suppliers such as Equatorial Guinea who was also referred to as China’s “
best friend
” by the Chinese Foreign Minister during his visit in 2007.
Despite its attempt to secure ... ... for several reasons. Firstly, “current U.S. government policy on the procurement of African oil based on the National Energy Policy of 17 May 2001” has become outdated with the recent emergence of new gas producers such as Tanzania and Mozambique. In 2001, Africa was not yet a “pillar of global energy security
[5]
”,...
... mix as they will grow at the fastest rate around (6.4% p.a.). A new makeup of the energy mix will be largely down to slow growth in oil demand (0.8% p.a.) and record setting rates by gas (1.9% p.a.). A huge share held by coal will stay steady even as China begins to finalise its industrialization and shift to cleaner more energy inputs (e.g. gas), as other Asian nations will enter their own respective industrializations and boost demand for coal (at 1.1% p.a). As BP forecasts coal will resurge strongly in lesser economies like Indonesia, India, etc. As Ruehl points out industrialization has ...
... recall in 2005 CNOOC tried to buy USA’s Unocal, but it failed spectacularly, as liberal mottos proved not as free as they sounds. Yergin (2011: 204-205) described the attempt well by saying that it was like – throwing a lit match into a gas filled room on top of Capitol Hill, as it instantly flamed a debate over energy security. So to put it crudely China is not allowed to buy firms so that it can import high-end technologies to better its domestic production (even if a firm like Unocal accounts for a mere 1% of the US output), nor can land adjacent Central Asia support its growing energy demand ...
... footing gives a lot momentum for those that believe exporting gas will damage the domestic economy via high prices. Interestingly, USA’s natural conventional gas production will actually fall steadily, which may raise worries if the unconventional gas is actually overvalued. Also, even Russia, traditionally a pipeline supplier will enter the game with about a 1/10th share by 2025.
No section about energy is complete without China, which is why LUKoil highlights that the Asian dragon has the most favourable conditions to establish shale production and it has already begun to import relevant technologies. However, the lack of gas infrastructure and limited water resources ...
... against their principles. This is why, distribution of economic capabilities in the near future will be vital as unless asymmetry is lessened, this relationship may not get very far, as asymmetry breeds conflict.
Counter-Agent Dilemma & Subsidized Gas/Oil to China:
The publicised and agreed energy deals with China are currently at the break-even point or just above it, which comparatively puts them on par with expensive Australian projects. If the market conditions do not worsen, these projects will recuperate their costs, but if there is ...
... energy security, shale revolution and domestic challenges will be discussed. In this post I am joined by the Head of Oil and Gas at the Energy Research Institute of the Russian Academy of Sciences, Dr. Tatiana Mitrova. This is the first of two posts from this special ... ... question and answer session is outlined with Dr. Tatiana Mitrova, whereas in the subsequent second post, coming later, we look at China-Russia.
Europe-Russia ‘Special Deal Severed’:
In normal day-to-day life Europe has a stable and diversified ...
... likely to stop looking West and instead go East – as soaring trade levels with China already foreshadow.
However, Russia remains a European power – part of... ... modernisation, on the one hand, and authoritarian consolidation, on the other hand.
Energy Calamity
It is argued by some that the Russo-European relationship has soured... ... creating an anti-Russian stance. Has this occurred due to European attempts to lower gas import prices, or more serious underlining issues? Europe’s potential alternative...
... links gas to coal prices, which differ a lot, particularly when Russia aims to receive European type sums. Mareš and Laryš argue that China’s gas market is a questionable venture, as it is traditionally orientated towards coal with gas only account for 3% of the energy mix. China has begun to move towards natural gas only 10 years ago. It is estimated that the overall total will rise to around 10% by 2020, but with increasing competition and Beijing’s strategy of diversifying imports as much as possible, it is uncertain ...
..., its growth has been very rapid. China has single-handedly fuelled more demand for LNG and expanded not only in its domestic, but also in international markets, like Africa (See: NYT). I was personally excited about opportunities between Russia and China, as Energy Minister Alexander Novak, issued a statement that both were working on gas and oil deals prior to Xi's arrival (See: Prime). I even hoped to discuss these issues with Novak personally, at "The Russian Energy Conference", which was run by Vedomosti Business Daily, but unfortunately due to the deal between ...
Alongside my typical journalistic duties at ‘Oil & Gas Eurasia Magazine’, I tend to daily scan both Russian and Western media outlets,... ... releases and alike - for major news, interesting articles and possible leads within the energy industry. Today, I want to share with you some of the findings in a liberal leaning... ... aimed predominantly at the home market.
Non-US Shale Progress (Europe and Asia):
China is eager to jump on the Shale Revolution and aims to produce 100 billion cubic...