... politically and economically costly process, that will take time and energy away from dealing with Europe’s many other problems. Indeed the power of Russia’s energy giants is most acutely felt in the EU’s eastern Members, where Russian gas can account for up to 100% of imports.
REUTERS/Luke MacGregor
Igor Ivanov:
Russia and Europe: New Rules of the Game
To the north, Russia recently
submitted a claim
to over 463,000 square miles of the Arctic, and its Arctic zone is expected to contain the majority of the region’s gas and a large share of its oil. With the opening ...
... 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 competition is expected to heat up a lot after 2015 as more potential suppliers enter the market (e.g. ...
... as Mitrova highlights (in reference to Simon Pirani's recent work), Central Asia has completely moved towards the Chinese market and we ought to blame the squabbling between the EU and Russia over gas matters, as whilst these were ongoing the gas/oil potential of Central Asia was lured towards China. As we are currently seeing the infrastructure is being reversed away from Europe to Asia, yet again underlining that EU's actions were once again detrimental to its energy security with an additional cost of diminished relations with Russia.
Russia's Uncertain Footing and China's Roar:
As Mitrova highlights, Russia must not be delusional about its own role in the great power's game, as from the sixth position in the global GDP rankings it will not be ...
... particularly in places like Asia where competition is already heated, but in reality this competition is likely to be more indirect, especially in Europe as LNG that was originally aimed at US will possibly end up there.
Before the shale revolution European spot prices were higher than Russian pipeline gas, but this game changing event resulted in a collapse of spot prices as relatively suddenly an excess of 40 bcm of LNG appeared. As a result this pushed for a change of pricing mechanisms in Europe, alongside the reasons of recession and bankruptcies,...
... divided between an official commitment to economic 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 pipeline has even been called “Nabucco” – does Europe really feel enslaved by the Russia energy dependence in a Verdian sense?
For far too ...
... shrewdness. However, its constant desire to change the pricing formula and its outstanding oil debts, go into the territory of poor relations; which will aggravate Moscow. Gas wise, China again acts as a hard client as experts believe that it 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 ...
... deal is for 38 bcm of gas, which is less than anticipated 68 bcm and vitally price was not set, which is obviously a serious concern (See: InterFax Energy). Additionally, Russia was unable to play-off Europe against China, due to the latters pressure. Russia hoped to supply both markets with its European gas fields, thus making its customers compete against each other (See: Reuters). However, on the brightside Gazprom agreed with China in regards to long-term contracts, thus allowing it to develop the riskier fields as export was more guaranteed. At first,...
Alongside my typical journalistic duties at ‘Oil & Gas Eurasia Magazine’, I tend to daily scan both Russian and Western media outlets, news stands, twitter profiles, oil companies press releases and alike - for major news, interesting ... ... of exporting shale - as many in the US argue it should be 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 meters by 2015. Firms ...
... long time that they need to diversify the economy – this was more evident after 2008 [financial crisis]. It is the same in Kazakhstan, as there have been attempts to try to move away from the economy that is dependent on the exports of oil and gas.
The recent relationship amid Russia and certain European states has soured leading to arguably an anti-Russian stance, particularly in regards to energy policies. Has this occurred due to European attempts to lower gas/oil import prices or more stern underlining issues? E.U. works with ‘sheikh ...
... Mayan apocalypse as some may have felt, but in today’s world things change quickly making one ponder – what must be done to stop any changes, how to adapt to them if they occur and what if sceptics are right?
«Oil and Gas Dialogue: Russian Gas in the European Market» Joint International Forum held at IMEMO RAN conference hall on 7th December 2012; moderated by Ivanova N. I., RAN Academic and Associate Director of IMEMO RAN, and Eric Dam, General Director of Energy Delta Institute.
Optimism ...
