Royal Dutch Shell Plc plans to expand the Sakhalin-2 oil and gas project in Russia’s Far East, the country’s only producer of liquefied natural gas, as it seeks to boost its presence in the Asian energy market.
Back in April 2007, in the midst of the greatest commodities rally on record, OAO Gazprom’s deputy chief executive officer, Alexander Medvedev, was talking big.
The following is a selection of the most important news affecting the oil market.
Russia’s success at the Sochi Winter Games was foreign-tinged.
OAO Gazprom expects revenue from natural-gas exports to Europe to jump 37 percent this year after prices for the fuel rose and demand recovered.
OAO Gazprom’s threat to end natural gas discounts for Ukraine adds to the financial burden on the near-bankrupt government in Kiev and makes Europe’s energy supply part of the escalating crisis.
OAO Gazprom sees its average price for Europe dropping for the first time in four years as customers win additional concessions from the world’s biggest natural-gas producer and oil prices ease.
OAO Gazprom expects 2011 total export revenue to top the 2008 record as natural-gas prices increase and demand for the fuel recovers in Europe.
OAO Gazprom, the world’s largest natural gas producer, will strive to forge supply deals with India and China this year as it seeks to win customers outside of Europe, where demand is waning.
"We hope that there will be no disruptions to transit."
- Alexander Medvedev on Mar 03, 2014