China Oil and Gas, Korea Oil and Gas

Conditions on Asian gas market may become unprofitable for Russia

South Korean company Korea Gas Corp (Kogas) is going to challenge the terms of a long-term contract with the North West Shelf project operator for the supply of liquefied gas.

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Turkmenistan to expand the development of a large gas field.

In the near future Turkmenistan intended to launch the third phase of development of the gas field Galkinish and bring the production to 95 billion cubic meters of gas, the chairman of the State Concern "Turkmengaz" Ashirguly Begliyev stated at a recent Ashgabat conference "Oil and Gas of Turkmenistan".
According to him, one of the major oil and gas projects in Turkmenistan is the industrial development of the largest Galkinish gas field, which is the second largest in the world, and will serve as a major source of natural gas for future export pipelines.

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Turkmenistan to expand the development of gas cauldron of Galkinish.

In the near future Turkmenistan intended to launch the third phase of development of the gas field Galkinish and bring the whole production there to 95 billion cubic meters of gas, the chairman of the State Concern "Turkmengaz" Ashirguly Begliyev stated at a recent Ashgabat conference "Oil and Gas of Turkmenistan".
According to him, one of the major oil and gas projects in Turkmenistan is the industrial development of the largest gas field "Galkynysh", which is the second largest in the world, and will serve as a major source of natural gas for future export pipelines.

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"Lukoil" and CNPC to invest $ 300 million in production in the Aral Sea.

In 2017 the consortium plans to start developing fields in the Uzbek part of the sea.
In 2017 the international consortium of Uzbek state company "Uzbekneftegaz", Russian "Lukoil" and China's CNPC planned to begin further exploration, construction and development of hydrocarbon fields in the Uzbek part of the Aral Sea, a source in "Uzbekneftegaz" told "Interfax". Until 2031 the partners would invest $ 300 million into the project, he stated, adding that this was the approximate amount of investment, the final cost of the project would be determined after the feasibility study.

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Uzbekistan to launch oil and gas projects costing $7.1 bln in 2015

​“Uzbekneftegas” and foreign investors will start the projects with the total value of $7.1 bln in 2015.
The program approved by the order of the President of Uzbekistan, I. Karimov, comprises 39 projects on modernization, technical and technological renewal of production in the oil and gas sector. In the structure of sources of capital investment foreign investment and loans make up $5.1 bln, company’s own funds - $1.14 bln, loans issued by the Reconstruction and Development Fund of Uzbekistan - $543.8 mln, loans issued by Uzbek banks - $313.7 mln.
In 2015 Lukoil will start the active stage of the project on the construction of a gas processing plant and development of the Kandym group of deposits in the Bukhara region with the value of $2.66 bln. The gas processing plant with the capacity of 8.1 bln cubic m of gas a year is planned to be constructed in 2019.
Uzbekneftegas and CNPC will start the construction of the 4th stage of the Uzbek part o the “Central Asia-China” gas pipeline with the total value of $800 mln. The gas pipeline with the capacity of 20 bln cubic m of gas is planned to be put into operation in 2017.

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In 2015, Japan to import record volume of Russian oil

Japan can import a record volume of Russian oil this year due to low prices, proximity to the supplier and high refining margins, the Reuters reports.
In January, the oil import from Russia increased by 63%, and the growth in the supply will help Japan to reduce its dependence on Middle Eastern oil, on which almost 95% of the import fall.
Sources note that it is convenient for Japan, ranked the fourth in the world in terms of the oil import, to buy Russian fuel, which can be deliveredduring a few days, while the supplies from the Middle East take about three weeks.

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By 2035, Russia to increase gas supplies to the Asia-Pacific region 9 times

Alexander Novak has said that by 2035 the volume of gas supplies from Russia to the countries of the Asia-Pacific region will increase 9 times.

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Export of Russian oil to China, South Korea and Japan grows by 25%

In 2014, Russia grew oil supplies to China, Japan and South Korea by a quarter, increased its share on the Asia-Pacific market to 8.7%. Here, domestic manufacturers were able to compete with the Gulf countries, share of which among exporters on the local market decreased in the past year.
In 2014, Russia increased the volume of oil supplies to China, Japan and South Korea by 10 million tons, which is equivalent to the growth of 25%. Thus, as the Bloomberg reports, referring to government data, the share of the supply of the domestic companies to market of the three largest Asian oil importers increased from 7.2% in 2013 to the current 8.7%.

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Kozmino will continue dispatching of extended oil volumes for exports in September

They won’t be influenced by restart of oil refining at the Achinsk plant.
The special sea oil port of Kozmino, the final point of ESPO system, will continue the dispatch of extended oil volumes for exports in September, the official representative of Transneft, I. Dyomin says. Exports won’t decline after the restart of oil refining at the Achinsk plant for at least the next 2 months.
ESPO mix dispatches increased after the breakdown at the Achinsk oil refinery. They reported in July that the current transporting capacity of ESPO system enables to transport 24.5 – 24.6 million tons of oil this year because of the absence of oil collection for the Achinsk oil refinery.
Now the Achinsk oil refinery does not takes oil due to the breakdown. If this volume is dispatched for exports, 1.2 million tons more could be added in Kozmino this year, Mr. Dyomin says. Supplies won’t be influenced by the restart of oil refining at the Achinsk plant. In September, the oil refineries start mass repairs. It will lead to the release of additional volumes for exports for at least 2 months, September and October, and it’s hard to predict now whether the tendency will prolong into November.

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Rostech can win tender for oil refinery construction in Uganda costing $3 billion

The Russian Rostech and the Korean SK Energy have entered the final stages of the tender for an oil refinery construction in Uganda, Rostech subsidiary RT – Global Resources reports. Earlier the Government of Uganda approved the short list including the consortiums headed by the Chinese China Petroleum Pipeline Bureau, the British Petrofac, the Swiss and Dutch Vitol and the Japanese Marubeni, besides from Rostech and SK Energy. They entered the final stage only 2 consortiums including the Russian RT – Global Resources, Tatneft and VTB Capital. Uganda’s oil is high-paraffin crude that will need special configuration of the oil refinery and the need for the heating of the pipeline to 60* when exporting the products to the neighboring regions. Tatneft possesses such technical capabilities and that enabled company to access to the final stage. They will discuss at the final stage the concrete details of construction and operation of the oil refinery that will chose the winner.

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