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Russia - Nov 15

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Many more articles are available through the Energy Bulletin homepage

Georgia warns EU it could face Russia gas hikes too

Georgia warned European nations on Tuesday they too could face politically motivated increases in Russian gas prices after Moscow doubled its price for the former Soviet republic.
"If Georgia can get a political gas increase, any other country can get it tomorrow," President Mikhail Saakashvili said after addressing the European Parliament in Strasbourg.
"First let me make it very clear. We will not pay $230 (per 1,000 cubic metres) because this is not a commercial price when at this moment some of our neighbours are paying $65 in real terms, some of the others are paying $110, $130," he told a news conference. ..
(14 Nov 2006)

Oil deals enhance China-Russia energy links

China Daily/Reuters
Russian Prime Minister Mikhail Fradkov closed out a visit to China Friday that was highlighted by announcements of increased energy links between the two Asian powers.

Fradkov held talks with President Hu Jintao at the end of a two-day visit that marked the close of the promotional "Year of Russia in China," but that was overshadowed by an announcement from Russian oil exporter OAO Rosneft, which said it is ready to increase shipments to China by up to 65 percent next year. ..

Rosneft President Sergey Bogdanchikov said the company was ready to boost oil exports to China to 140 million barrels next year, up from an expected 85 million barrels this year. ..
(10 Nov 2006)

Gazprom strengthens foothold in Italy with extension of ENI deal

Carl Mortished, The Times
Gazprom will start to extend its arm into the Italian gas market next year after agreeing an alliance with ENI, the Italian energy group.

The Russian gas giant has agreed an extension of its supply contracts with ENI from 2017 until 2035. In addition, ENI has agreed that three billion cubic metres per year of Russian gas will be marketed directly by Gazprom. ..
Gazprom and ENI plan joint ventures to develop oil production in Russia and gas in Africa. The partnership will include liquefied natural gas projects and long-distance gas transport pipelines.
(15 Nov 2006)

Russia faces gas shortfall, leaked report claims

Andrew Osborn, The Independent (UK)
Russia's future as an energy superpower has been called into question by claims that it will not produce enough gas next year to satisfy both foreign and domestic demand due to years of under-investment.

Russia boasts 26.6 per cent of the world's gas reserves and Gazprom, the state-controlled energy giant, is the world's largest producer of gas.

But a leaked report from Russia's Energy Ministry says gas is not being extracted as quickly or efficiently as it should be and next year, for the first time, there will be a small shortfall.
(14 Nov 2006)

Nato fears Russian plans for ‘gas Opec’

Daniel Dombey, Financial Times
Nato advisers have warned the military alliance that it needs to guard against any attempt by Russia to set up an “Opec for gas” that would strengthen Moscow’s leverage over Europe.

A confidential study by Nato economics experts, sent to the ambassadors of its 26 member states last week, warned that Russia may be seeking to build a gas cartel including Algeria, Qatar, Libya, the countries of Central Asia and perhaps Iran.
(13 Nov 2006)
The Financial Times has already shared this 'confidential study' with American Public Radio's Marketplace program.

US Energy Secretary concerned Russia slow to develop oil reserves

Ian Talley, Dow Jones via Rigzone
U.S. Energy Secretary Samuel Bodman expressed concern Monday that Russia, an important non-OPEC oil producer, was developing its oil reserves at too slow a pace.

Not a proponent of the "peak oil" concept that postulates world oil production will soon reach its peak, Bodman said he was increasingly concerned that global oil reserves weren't being developed at a pace that could comfortably keep up with growth in global oil demand.

"There is oil available, but increasingly, supplies are under the control of national oil companies," Bodman said, pointing to Russia as a good case.
(13 Nov 2006)

And in late news.. Russia on tsunami alert.

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