... the MENA horizon. For example, Russia and the MENA hydrocarbon exporters face the common challenge of the global energy revolution. Joint preparation for this inevitability in the future may turn out to be no less important than reaching agreements on oil extraction quotas in the OPEC+ format.
The report describes the problems of asymmetry in relations between the countries of the MENA and China. Russia could turn out to be quite a good actor, offering its partners in the region a connection to multilateral structures (for example, to the SCO or BRICS+), where Beijing's inevitable dominance would be mitigated by the specifics of decision-making ...
... budget will benefit from it as well as it will be replenished by the devalued ruble. However, this factor will weaken the pendulum effect, than remove it completely. The fate of the country's budget is fairly obscure, but for now one thing is clear: Russia will not turn the tide on the oil market; rather it will exacerbate the current situation.
Factor 5: China’s growth rate
Reuters
China’s rapidly developing economy and growing role as a major oil importer is one of the key factors impacting oil prices. In early May 2015, great hopes were laid on it, however, it did not live up to these expectations....
... fossil fuels, mineral fuels and renewables) with net exports of 736 Mtoe (million tons of oil equivalent) by 2035. As even though others will produce a lot of oil and gas, they will not be able to export as much due to domestic needs, etc. As a result, Russia’s net exports will meet 4.2% of world’s energy demand in 2035, which will be sent to Europe (still world’s largest importer of natural gas) and China (world’s largest oil importer).
Oil production will be dominated by USA, Saudi Arabia and Russia, with well over a third of global liquids coming from these three powers. At a rate of 11 Mb/d by 2035 Russia will only trail Saudi Arabia and the US. BP anticipates that ...
... Strategy
On June 21, 2013, at the St. Petersburg Economic Forum, Rosneft signed a new 25-year contract with China National Petroleum Corporation (CNPC) to supply 365 million tons of oil. Supply is expected to peak after 2018, when the annual supply of Russian oil to China could reach 30–31 million tons per year
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China’s surge in consumption is also keeping gas prices supported despite a rise in North American shale output and a weak economy in the West. Natural gas supply to China is a major project ...
... investments have occurred. So, if China continues to alter its pose it may well engage Russia as it is the most appealing long-term supplier. Russia holds huge oil/gas reserves, which are geographically close as it takes just 3-5 days for East Siberian oil to flow to China, in contrast to two/three weeks from the Middle East (Voice of Russia, 2012), and also as an added bonus US or NATO cannot defy Russian and Indian airspace to target future pipes.
The prior paragraph hints about a possible alignment among China and Russia, but a lot will depend on how circumstances will change ...
... sulphur & nitrogen compounds than other fossil fuels) was quickly appraised. In fact, gas consumption will grow faster than oil utilization in the coming decade at an average annual consumption growth of 2.2%, with much of this growth being driven by China. LUKoil sees that for Russia this is not good news as it is yet to complete any big gas deals with China, while its traditional European market is forecasted to persist in being difficult. Although European production will actually decline and imported gas will increase, the ...
... rates were favourable for the loans it acquired to complete these long term contracts, as these rates were much lower than the global average. Hence, there are no evident serious pitfalls of national interests in Mitrova's eyes, however future oil deals will likely to be less favourable for Russia as China will use its dominant position of being the main importer to gain favourable prices. Still, it is unlikely that China will push Russia to a level where it will not break-even as this will tater relations, but as we know its almost certain that if ...
Euro-Russian relations have strained over the recent years in energy matters as certain vested ... ... 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... ... Dr. Tatiana Mitrova, whereas in the subsequent second post, coming later, we look at China-Russia.
Europe-Russia ‘Special Deal Severed’:
In normal...
... concerns capitalism, religion, ethics, civil economy, European Union and wider Europe like Russia, Ukraine and Turkey. He is an Associate Editor of the journal TELOS and Fellow... ... the capitalist system, its agents, or other factors?
The continuous eurozone turmoil provides a microcosm for the wider global economy. It has variously been described... ... 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...
... booming economy, which requires disproportionate amounts of energy: to create $1 of GDP China uses 5 times more energy than the US, or 12 more than Japan. Just by 2015 China’s consumption will near EU’s at 490 Mt. ES-2030 shows that by 2030 Russia aims to supply 20-25% of Asia’s oil from the current 6% – with China being the main consumer. Further, by 2020-2022 the figure should be around 14-15%. Gas wise, it is amazing that Russia, the energy superpower, sells no pipeline gas to Asia, and only marginally sells LNG from 2009. By 2020-2022 Russia ambitiously ...
