Russia Oil and Gas, Sumitomo

The termination of the "South Stream" pipeline deprives the EU of $ 3.095 billion.

The European companies will lose at least $ 3,095 billion due to Russia's decision not to implement the "South Stream" pipeline project, a press release of the South Stream Transport informs.
The most significant losses will be incurred by the Italian energy holding ENI, a subsidiary of which (Saipem) has been contracted to lay the pipeline for the amount of $ 2.476 billion.
It is worth noting that in April a contract for the construction of the second line of the offshore section of the pipeline was with the Swiss company Allseas Group was concluded. In addition, the German Europipe, which has been recognized as the supplier of 50% of the order for the supply of pipes for the first line of "South Stream", will be deprived of a contract for $ 619 million.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Russia decides to cancel South Stream

Russia has decidd to cancel the South Stream pipeline.
As "the Kommersant" predicted, Russia has abandoned the South Stream pipeline - one of its biggest projects, the geopolitical importance of which initially exceeds the economic. After the conflict in the Ukraine, the EU firmly blocked the project, and now instead of the South Stream "Gazprom" is going to lay a pipeline to Turkey to at least partially abandon the transit through the Ukraine and use more than $ 25 billion of the already implemented investments. However, the experts believe that it is better to completely abandon the project: Turkey can become a problem user for "Gazprom".
Russia could not build the South Stream pipeline with the opposition of the European Commission and the lack of resolution of the Bulgarian authorities and therefore rejected the project, Vladimir Putin stated yesterday during a visit to Turkey. Thus, as "the Kommersant" predicted on November 10th "Gazprom" abandons one of the most ambitious and expensive projects in its history, after eight years of negotiations, the preparatory work and endless disputes with the EU. Instead, as "the Kommersant" wrote on December 1st, "Gazprom" will lay the pipeline into Turkey with the same capacity that was assumed for the South Stream: 63 billion cubic meters.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Gazprom and Japan have discussed the possibility of gas supply rise

Gazprom and the representatives of the Parliament of Japan have discussed the perspectives of growing the gas supply to Japan including on the account of the pipeline gas supply, Gazprom reports.
Read more »

Rosneft to develop shelf deposits with the Japanese

Rosneft has decided to cooperate with the Japanese on the shelf of Magadan and East Siberia after a conflict with its Chinese partners. According to the local  media, the Russian oil company will give up to 49% to a consortium of Japanese investors in the JV on exploration and development. The Inpex Corp., Japan Oil, Gas and Metals National Corp. (JOGMEC) and oil traders might join the consortium.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer