by Daniel J. Graeber
Washington (UPI) Jun 30, 2017
Russian natural gas company Gazprom expects to sign off on developments to increase its footprint in the Asian market, the company's top executive said.
"Today we're finalizing the discussion of the exact schedule for the launch of supplies via the 'eastern route' in compliance with the contract," Gazprom Chief Executive Alexei Miller was quoted by Russian news agency Tass as saying. "The plan is to sign the relevant document in nearest days."
The eastern route refers to the so-called Power of Siberia natural gas pipeline. Gazprom has a 30-year sales agreement with China National Petroleum Corp. that calls for 1.3 trillion cubic feet of natural gas per year through the pipeline.
Russian President Vladimir Putin described the 2,500-mile gas pipeline to China as a way to tie the Russian energy sector to two poles of the economic world. Russia meets about a quarter of the European energy demand, but has at times focused its economic efforts on the expanding economies in Asia.
Gazprom said gas supplies through the Chinese pipeline could start within the next two years.
Additional options for Russia's focus on the Asia-Pacific come from liquefied natural gas. Novatek, the largest private natural gas company in Russia, controls 60 percent of a project on the Yamal Peninsula alongside French energy company Total and the China National Petroleum Corp.
The Yamal LNG project has the capacity to produce about 16.5 million tons of natural gas and exports could target consumers in the Far East. Up to 16 ice-class carriers will be designated to ship LNG year-round to global consumers.
Washington (UPI) Jun 28, 2017
An energy-dominant United States means the country is self-reliant and isolated from countries that aim to use energy as a weapon, the energy secretary said. U.S. President Donald Trump is highlighting his energy strategy this week as the Energy Department's independent Energy Information Administration holds its annual conference in the nation's capital. Earlier this week, White ... read more
All About Oil and Gas News at OilGasDaily.com
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement|