... limitations. Article 9 of the Federal Act FZ 2395-1
сoncerning Subsurface Resources
states that only the companies with a 50% statutory capital (or 50% voting trust) belonging directly or indirectly to the state and a 5-year experience of work on the Russian shelf are allowed to be the users of the subsurface resources of the shelf. Only four companies meet these criteria: Rosneft, Gazprom, Gazpromneft, and Zarubezhneft. At the moment the situation around Rosneft’s shelf projects with foreign companies being involved is still not clear. Rosneft is likely to lobby for the liberalization of access to shelf deposits, as most of the ...
... with Itera
[6]
. In 2013, Rosneft plans to produce 41 billion cu. m jointly with TNK-BP and Itera
[7]
. At the same time, Gazprom has dramatically decreased its output from 513.2 bcm in 2011 to 487 bcm in 2012, as a result of a drop in foreign sales by four percent and in home sales by nine percent
[8]
.
In 2012, Novatek and Rosneft took several significant steps to consolidate their position both within Russia as well as abroad. Two key Russian gas independents also pledged to increase their production up to 112 and 100 bcm respectively ...
... exciting as the recent TNK-BP acquisition by Rosneft and the subsequent "aggressive consolidation" should not only result in efficiency savings, but allow a new avenue of possibility as BP now has access to the Arctic with Rosneft. Hopefully, Rosneft's consolidation and LUKoil's upward trend will pull Russian companies back into the top 50 firms of the Financial Times Global 500, as only candidate Gazprom crashed out extravagantly this year by losing 26 places and ending up 57th due to the quickly changing European market. To add salt to the wound, Gazprom is now sandwiched between Walt Disney and McDonald's. Finally, it is worth mentioning ...
... are isolated by taiga or encircled by canyons – these are not Gazprom friendly areas due to a lack of piping expertise. Besides technical issues, political factors have also strained development. Like the 10 year dispute amid TNK-BP, Interros, Gazprom and other stakeholders, but a light at the end of the tunnel seems nearer as Russian politicians have stepped into to resolve some of the issues. Also, TNK-BP acquisition by Rosneft naturally resolves some of the long-lasting disputes. As the below map illustrates the extent of underdevelopment is quite obvious, particularly if compared to the European part of Russia. It is not surprising, since USSR and China have fell into ...
... beyond 2030) in just three years (See: UPI). Therefore, state run firms do not have to be negatively looked upon. It is nevertheless important that this giant is guided into the right direction. It will be interesting to see how the relationship between Rosneft develops with the Russian government, as Gazprom has always been the state official and legal monopoly, but as the former's potential grows, particularly in gas, this status quo may alter. Currently, Ministry of Natural Resources backs Gazprom (See: InterfaxEnergy). Finally, whether ...
