On paper, Turkmenistan would be a great match for Europe’s energy woes.
On paper, Turkmenistan would be a great match for Europe’s energy woes.
Russia and China last month agreed to a landmark natural gas deal nearly a decade in the making that will put the two in partnership for the next 30 years. Russia’s energy giant, Gazprom, and the China National Petroleum Corp. signed the much-anticipated $400 billion natural gas deal on May 21. The exact pricing remains […]
The eurozone crisis is back on the international agenda with a very serious crisis unfolding in Cyprus right now. Some Wall Street investors might argue just in time to pull the rising U.S. stock market indices — the Dow Jones hit an all-time high recently — down for a better entry point in order […]
Two decades after achieving independence from the Soviet Union, Lithuania is still struggling to achieve energy independence. It appears to have taken some significant steps in that direction recently. First, it managed to get the foreign shareholders of Lietuvos Dujos, a Lithuanian natural gas company, to agree to divide the utility into three separate […]
As the geopolitics and technology of natural gas continue to change rapidly—with such developments as shale gas production and Liquefied Natural Gas (LNG) transport—the European community would do well to consider the strategic value of supply diversification. Crises in 2006 and 2009, both the result of intentional supply decreases from Russia, highlight the risks of overdependence on any one source for this vital commodity. But overreliance on Russia is not the only possible source of distress for the European market: from environmental concerns to instability in other potential supplier nations, every natural gas supply comes with its own set of challenges and risks. For this reason, an “all sources” strategy for natural gas production (one that spreads the risk and minimizes the impact of a reduction in any one source of supply) should characterize the European approach in years to come.
Two decades ago, the Baltic States became politically independent from Moscow. Their energy independence has yet to occur. In Lithuania, Russia’s Gazprom remains the sole supplier of natural gas to the nation of 3.2 million, Obviously, this gives Russia quite a bit of leverage in Lithuania post-independence – February in Vilnius is much more pleasant […]
In another sign of strengthened ties between Venezuela and Russia, Prime Minister Vladimir Putin visited Hugo Chávez on Friday. Together they toured the Kruzenshtern, a Russian ship docked at the Venezuelan port city of La Guiara, and spent time in Miraflores, the equivalent of Venezuela’s White House. While in Caracas the leaders signed agreements to […]
Pipelines used to be just a way to get oil or gas from Point A to Point B — mostly political locally, especially for environmental reasons. Sometimes, they are locally strategic, the way they are in Nigeria — want to get the government’s or the company’s attention? Blow up a pipeline. Increasingly, they are geo-strategic, […]
Russian oil companies, including Gazprom and Lukoil, will pay $1 billion to Venezuela for the chance to develop oil reserves along the Orinoco. Even though Caracas and Moscow are allies, I still have doubts about the final payout for these businesses. In 2006 the Venezuelan government pushed out some foreign oil companies, and forced others […]
Russian President Dmitry Medvedev attempted to allay global fears that Moscow is trying to amass access to natural resources this week during a trip through Egypt, Nigeria, Namibia and Angola as he signed billion dollar energy deals providing Russia a greater foothold in Africa . In Angola, Medvedev emphasized that these resource contracts were important […]
Russian President Dmitry Medvedev is on a 4-nation tour this week through Africa to push his expansive international energy policy. Today, his former company, Russian gas giant Gazprom, signed a $2.5 bln deal with its counterpart in Nigeria to build infrastructure including refineries, pipelines and gas power stations. The deal gives access to Nigeria’s resources […]
The European Union plans to announce today that it sees possible disruptions for its gas supplies from Russia via Ukraine, a liklihood we identified earlier this year. What’s worse, Gazprom is now demanding $230 in debt payments from Belarus, another key gas transit route to western Europe. The payments from Belarus may stem from a […]