... 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 ... ... suppliers enter the market (e.g. Qatar). By 2020 the market will need an extra 50 bcm on top of the existing contracts as certain long-term contracts end, but supply will increase by 250 bcm in essence flooding the market and leading to old contracts to be ...
... has led much ink to be spilled and many keys to be worn-down. For many, this phenomenon was of great interest naturally due to China’s huge size and its equally large potential; especially, in contrast to the economically and politically stagnating ... ... least Eurasia will shake. As promised, this is the second post in this special series and once again I am joined by the Head of Oil and Gas at the Energy Research Institute of the Russian Academy of Sciences, Dr. Tatiana Mitrova. We discuss: sinicisation,...
... and domestic challenges will be discussed. In this post I am joined by the Head of Oil and Gas at the Energy Research Institute of the Russian Academy of Sciences, Dr... ... Dr. Tatiana Mitrova, whereas in the subsequent second post, coming later, we look at China-Russia.
Europe-Russia ‘Special Deal Severed’:
In normal... ... as all the loans for developing new fields and constructing new pipes are done via long-term contracts. This is vital for Gazprom, as the lending banks absolutely adore...
... for this crisis? Perhaps, is it a virtue of the capitalist system, its agents, or other factors?
The continuous eurozone turmoil provides a microcosm for the wider global economy. It has variously been described as a financial or a fiscal crisis, caused ... ... Atlantic to the Pacific Ocean, Moscow is likely to stop looking West and instead go East – as soaring trade levels with China already foreshadow.
However, Russia remains a European power – part of Europe’s non-West alongside Turkey ...
... require academic rigour. Please see the following link for the Energy Policy journal article on which this post builds upon: "Oil & Natural Gas in Russia's Eastern Energy Strategy: Dream or Reality. Also, please feel free to comment or leave a ... ... “Energy Strategy to 2030” (ES-2030) publication; released in 2009. M. Mareš and M. Laryš argue that China’s rise is creating a great opportunity for Russia as an extra energy market, but at the same time, current conditions ...
... made billions during the periods of the '90 and early 2000's when the long-term contracts benefited their economies, due to cheap prices, but now prices increased... ... it has just issued a new plan to invest $130 billion over 5 years in developing its oil and gas fields (See: Zawya); production has already increased 24% last year, so... ... 3bcm, with also internal consumption growning quicker, which will lower exports to China, or potentially to the EU market (See: NaturalGasEurope). Also, political turmoil...
... the key political interest of Russia, with the other interest being of course energy. The integrated transportation system for oil and gas, which existed since the Soviet period, still mainly runs through Russia and it is very keen on maintaining this system.... ... peacekeeping force. So its overall military interest is to continuously have a foothold in the region. However, the role of China in the region, the American war in Afghanistan since 2001 and the European Union which has been gaining an interest there ...
... – 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 ... ... account for industry realities or Russian and peculiarly even its own interests as it is undermining its own energy security.
Long-Term Contracts a No-No:
An area of contention stimulating uncertainty is the debate amid long-term contracts and hub trading ...
... foreseeable future the energy sector will experience price turbulence. In regards to oil, official forecasts estimate that global output will stabilize as demand increases;... ... the Middle East, aside from this being a double-standard as it tends to avoid Russian long-term contracts by saying short-term hub trading without a fixed price is the future... ... Eastern Expansion Project needs particular attention; for instance in respect to gas, China opposes paying over $290 per 1000 cubic meters, which is $110 cheaper per measure...
