... 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 renegotiated more robustly. Lastly, Europe’s notorious Third Energy Package is set to split gas transmission and storage from commercial activities. This will create a single trading hub as LUKoil points out for the entire area and as policymakers hope, eliminate major differences in prices, but as my older posts stress ...
... 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, geopolitical ... ... of the leading Russian experts on energy matters, Dr. Tatiana Mitrova. To view the first part of this series focusing on the European-Russian relations, click the following link: European Energy Woes. Moreover, for those that follow my blog, as promised ...
... shift gas via many different routes. Simply having the same price across the board is absurd or trying to push some revolutionary policies that do not reflect market peculiarities. The market must be given time to evolve naturally.
Giant-Shtokman Gas Field - Will be Idle:
As Europe is proving to be a difficult market for Russia due to price liberalization, long-term contracts decline and oil-pegged prices rejection, the Shtokman field was postponed and its development was rejected, perhaps, for the next 10 years. Also, as the US market is quickly becoming self-sustainable due to the Shale Revolution, the Shtokman gas can no longer be ...
... Lille (Sciences Po). His research concerns capitalism, religion, ethics, civil economy, European Union and wider Europe like Russia, Ukraine and Turkey. He is an Associate... ... 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... ... 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...
... perhaps one of the biggest challenges in the upcoming decade as its economy is overly dependent upon natural wealth, but our main European market is quickly becoming less accessible raising the question: where to go? Aside, long-term diversification from energy ... ... 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 like, its always ...
... First RIAC Monthly Digest. My aim here is to recap, analyse, and offer links to top: Oil&Gas News, Pictures & Videos, from experts and institutions I follow. Also, please feel... ... serious concern (See: InterFax Energy). Additionally, Russia was unable to play-off Europe against China, due to the latters pressure. Russia hoped to supply both markets... ... (See: Reuters). However, on the brightside Gazprom agreed with China in regards to long-term contracts, thus allowing it to develop the riskier fields as export was more...
... Between Formal and Informal Politics (2011, Routledge) and has published numerous articles in journals such as Democratization, Europe-Asia Studies, Electoral Studies and Studies in Ethnicity and Nationalism. Rico has undertaken media work commenting on ... ... 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. In ...
... just shutdown. So, currently a hybrid system exists with spot pricing, fixed gas to oil pricing and with hubs which only work after 70-80% of the market is satisfied by... ... difference is not huge in contrast to the feasible risks. During 2011-2012 hub prices in Europe had shown that the blend of speculation and erratic weather could create a dangerous cocktail with severe gas shortages. In the established US market similar scenario occurred in 2001 as prices... ... and supply spiralled due to shortages resulting in extortionate consumer rates. With long-term contracts such seasonal, speculative and erratic events are less likely.
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... 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... ... the 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 in contrast to the European consumers, whilst gas is also only really needed in Manchuria. So, not to exacerbate...
