... North West Europe and North America were divergent, however in 2015 NBP and Asian LNG spot prices reflect similar patterns. Only Henry Hub price (determined by shale revolution, reduced Import, low coal price in the EU and low industrial demand for gas as well as post-Fukushima nuclear dismantlement) remains cheaper, giving the USA additional incentives for export. Today, 53% of the EU (80% in North West EU) gas supplies are traded in gas-for-gas markets that gives reliable price signals thus determining most economic and efficient supply mix. LNG flows (given availability of ...
Going South?
While Russia and the Middle East have remained champions in gas and oil production for decades, the USA is looking for new greenfield projects and partnerships with countries not facing existing political constraints: it is the African market that lies within closer geographical proximity to American consumers what makes imports from that region less ...
... global output and 79 percent of the total U.S. output. That mine also
produces
3 percent of global and 33 percent of American lead.
Alaska is also America's second largest oil producer, at 20 percent of the total extracted volume. And more huge oil and gas-bearing formations have been discovered in northern areas. Prudhoe Bay is the largest traditional continental field, which accounts for
8 percent
of the national oil output. Oil revenues are especially important for the state, as they constitute ...
... parliament (158 seats of 250). Vucic himself is known for his individualism and penchant for sharp political actions and statements, supported by the media, – Bonapartesque moves occasionally helpful in times of changes.
Finally, a few words about the gas issue. The scene for Vucic’s visit
was set by President Nicolic’s loud statements
ruling out the option of the Turkish Stream and Vucic’s own call to “
reduce dependency on Russian gas
”. And, although it does look like ...
... by Joe Biden. Not to mention that the conditions of the economy in European area were already worrying to begin with, even without the “independent decisions” of the EU authorities, just to re-quote Ms. Mogherini's intervention.
Gas at All Costs
Another crucial aspect, which the EU is failing to address, concerns its energy policy, considering that no alternatives have been found to the partnership with Russia, especially on the delicate point of natural gas. To be fair, other ...
... a rate of 11 Mb/d by 2035 Russia will only trail Saudi Arabia and the US. BP anticipates that post-2020 Russia will commence its tight-oil production, which will prop up its falling production and account for 7% of the country’s total output. Gas production will be dominated by USA and Russia, with the latter just trailing the former in total volumes produced, but dominate export wise. At 79 Bcf/d of gas output by 2035 Russia will a major player, but its production will predominantly be conventional as only 5% of it will come ...
... energy resources could be transported to Europe, bypassing Russia and Iran and thus decreasing the regional and international influence of these two countries. Azerbaijan and Georgia are important to the US and Europe as transport countries of Caspian gas and oil. In the future, Azerbaijan may also be an important transit state, transporting landlocked Central Asian energy resources to Europe. On-going negotiations between Azerbaijan, Turkmenistan and European counterpartsmay result in relevant agreements ...
... stationed in the Arctic on undoubtedly for the West symbolical ex-Soviet New Siberian Islands (Yahoo, 2013). As already said USA’s UNCLOS ratification will be key, as it technically follows it yet without being binded by it, particularly in the ... ... conference by several speakers that now even the US will likely claim further seabed from the international waters due to oil and gas riches there. It is interesting to point out that a nation can claim a 200 nautical mile territory, but UN allows for a claim ...
... their place over the past century. Moreover, Russia opposes equity investment and it is not corrupt to an extent that it sells major assets, nor can China engage Europe or USA as that is a political minefield.
If we recall in 2005 CNOOC tried to buy USA’s Unocal, but it failed spectacularly, as liberal mottos proved not as free as they sounds. Yergin (2011: 204-205) described the attempt well by saying that it was like – throwing a lit match into a gas filled room on top of Capitol Hill, as it instantly flamed a debate over energy security. So to put it crudely China is not allowed to buy firms so that it can import high-end technologies to better its domestic production (even if a firm like Unocal ...
... ideas. In this post, I will be using some of the standpoints highlighted at this year’s IMEMO RAN event; the “Oil & Gas Dialogue” (26/04/13). As usual, I will offer additional links to expand our discussion. It is almost a cliché,... ... was dominated by seven oil majors, or the 'seven sisters', who reflected the global power balance – with USA and still Great Britain dominating this list. Today, many of the top Western oil companies draw their roots from these original ...
