... of gas supplied to Europe (including Turkey) in 2017 – 194.4 billion cubic metres. Meanwhile, the United States delivered just 2.75 billion cubic metres to Europe during the same period.
This difference poses a risk both for Nord Stream 2 and for Russian gas exports to Europe as a whole. The United States hopes to increase LNG exports and become the main supplier of liquefied natural gas to the global market. There is information that U.S. companies have submitted applications to the Department of Energy ...
... additional sources of income as a transit country. Moreover, Armenia as the main rival of Azerbaijan pretends to play a similar role, though with obviously less success.
Perhaps the main innovation of the trilateral negotiations was the project to
create a gas corridor
from Russia to Iran through the territory of Azerbaijan. It is difficult to call this result a breakthrough, but the successful implementation of the new project combined with the launch of the North-South transportation corridor might increase the importance ...
... Yemen. It is the modern “Cold War” of the Middle-East. One of the reasons Saudi Arabia did not join the Astana initiative is that Iran is a founder. The Saudis does not fear a Russian influence in Syria, but they rather fear an Iranian one. Plus, Russians and Saudis have a lot to discuss and cooperate such as Oil and Gas markets, they have to deal openly at some point. It is in none favour to go into a confrontation in Syria or the Middle-East. As a result, the Saudis had started to view the Russian role in the Middle-East as stability guaranteer. The Saudis also ...
... most important topics of contemporary economic discourse, with a focus on Russia’s position and development. He divided the presentation into three parts: the sanctions and their effect on the Russian market, the world price of oil, and the role of gas in Russia’s future.
He first discussed the impact of sanctions on the development of Russian energy, claiming that the sanctions themselves did not cause significant damage to Russia’s energy industry, but contributed instead to the balancing of industry ...
... will benefit from the problems in the Russian oil and gas industry. The decrease in oil production resulting from under-financing will increase the world oil prices, leading to a growth in profitability for the U.S. shale projects. At the same time, Russian gas shipment issues will be one of the reasons for European countries to purchase American LNG. All this will allow D. Trump to successfully implement his promises on raising the number of jobs in the American oil and gas industry.
Thus we can say that ...
... its goal of reducing their share in the Zohr project to 50%
. Russian reluctance to enter exploration projects in Egypt is a logical choice on the one hand, yet indefensible on the other.
On one hand, this is because unlike European companies, Russian oil and gas business has little experience of exploration in Egypt. Traditionally, the European BP, Eni, and Total have the strongest positions in North Africa. These companies have more information about the geology of Egypt. Besides, Russian companies are generally ...
... exports to Turkey had been increasing gradually. The gas is pumped to the country via the Trans-Balkan and the Blue Stream pipelines (each boasting a capacity of 16 billion cubic metres)
. Turkey has become the second largest European buyer of Russian gas.
EPA/ALEXANDER ASTAFYEV / SPUTNIK /
The Current State of Trade and Economic
Relations between Russia and Turkey
After Russia backed out of the South Stream gas pipeline project, Turkish Stream became the most promising ...
... serious in its intention to smooth out differences with the European Commission. After breakdown of the «South Stream» pipeline project, «North Stream-1» multi-year obstructionism, and numerous attempts by Brussels to deprive the Russian gas giant of a competitive advantage in prevent its dominance, events in recent months might boost new projects of the Russian export monopolist in Europe.
Gazprom’s first non-arbitral victory is
European Commission (EC) reviewing its decision
... shrinking in all the oil exporting countries and with the existing strategic contradictions between Saudi Arabia and Russia, Moscow will find working with the two Middle Eastern countries at once to be an extremely difficult balancing act.
The oil-and-gas cooperation plans recently announced by Russia and Saudi Arabia may sound like part of a rapprochement trend. Yet one should not expect too much from this rhetoric. It is possible that, rather than reflecting the two countries' enthusiasm about the prospects for economic partnership, their ...
... proposal of the Turkish Stream gas pipeline project instead. Gazprom CEO Alexey Miller
the signing of a MoU between Gazprom and Botaş for the construction of a 63 bcm/a new gas pipeline to Turkey under the Black Sea and the transportation of Russian gas to the Turkish-Greek border. However, the capacity of the project was reduced to more realistic amount of 31.5 bcm/a.
The project is now envisaged to deliver gas for both the Turkish and Southeast European markets from the Russkaya compressor station ...