... was lost in comparison to year 2000, which means it will be a major challenge with the current difficult political climate.
Europe Refines A Meltdown
As a consequence of recent energy trends the European oil refineries are in systemic crisis. USA’s reduction of gasoline imports due to shale and commissioning of highly effective oil refineries in the Middle East/Asia has filled many rooms with pessimism. The period of 2004-2008 branded by LUKoil as the ‘golden age’ of European refining, has come to ...
... the government which naturally tends to optimise its goals. Also, the 2017 deadline will likely be achieved closer to 2022. Unfortunately, this puts Russia at a disadvantage as by then the Chinese market may become saturated with suppliers (e.g. if USA decided to finally allow for mass export of shale gas). In all, the official Strategy 2020 (ES-2020) and Strategy 2030 (ES-2030) are very optimistic, their figures may be achieved in the long term, but the dates set will not be hit and the fact that the latter strategy re-applies the same goals as its ...
... cheap money. This, coupled with low interest rates across the whole eurozone, fuelled credit and real estate bubbles in the USA and Europe, which burst in 2008-9 amid the global ‘credit crunch’.
At first, this led to a pan-European banking ... ... 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” ...
... personally due to the nature of such authoritarian states. It was always very optimistic to even consider this option, but energy companies and academics nevertheless did not abandon the possibility that it could become a reliable partner for South Korea gas needs. Perhaps, in the perfect world, where the last delegate to DPRK is not Denis Rodman and it does not want to destroy USA, both South and North could cooperate in all fields, including energy matters.
At a junction – ES-2030:
ES-2030 follows a tradition of Russia’s psychological affection to large scale projects with political elites at the helm....
... already apparently invested $1.52 billion into US shale, with an aim to increase its global oil production to 200 million tonnes by 2015 - very ambitions (See: RT). China has also pushed to invest into natural gas-stations for transport vehicles in the USA, as by switching from oil to gas reduces pollution (See: ChinaEN). One wonders, if China this way wants to get closer to US shale technology, as one must point out that the US has been highly reclusive of it, not even allowing Chinese passport holders to its production sites. For ...
... test of time, the US shale fever could substantially impact the energy league table. I also include some personal insight and pictures for clarity as I go along, please feel free to leave a comment – lets make these blogs interactive!
Shale Gas History (USA):
The New Times – a Russian weekly – reports that the US Shale Revolution is picking up pace at unprecedented levels, mirroring Klondike Gold Rush. It certainly took its time, as original discoveries of shale were made centuries ago,...
... already tentative Japanese economy, especially as it has no own energy reserves, making it a premium market for all exporters.
- Shale Gas Revolution:
The US ‘shale gas revolution’ has made this previously substantial net-importer of gas into almost a self-sustainable entity, with a net-equal position between its imports and exports. USA even had to convert its now useless LNG terminals (which it first built at a massive cost to assure gas supplies in early 2000’s) into shale gas export stations; albeit their potential is limited due to original LNG terminals being inflexible....
... immediate 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 ...
... states could capitalise in various ways, Russia has a big, albeit long-term opportunity in respect to the Asian market. But as discussed the issue of export and the local base is key as it will decided the end price. Unless Russia offsets the cost for gas from the current $400 per 1000 cubic meters, it could begin to lose market share – which has not changed in the last decade. The decision must be well calculated, yet quick, as USA has almost achieved independence from energy imports due to shale which could supply North America, Australian shale could supply Asia, Israel has off-shore shale potential, Middle East could make a stable return to supply Europe and if China gets ...
