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October 5, 2007
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Home / From the Newsroom

From the Newsroom

Semyon Vainshtok Tells OGE Transneft Prepared to Build BPS-2, Govt Decision Pending

The Pipeline Transport 2007 conference which focused on the ongoing projects of Russian pipeline monopoly Transneft such as the East Siberia – Pacific Ocean, BPS-2 and Burgas-Alexandroupolis pipelines concluded today in Moscow. Among other major issues raised at the forum were Transneft’s recent merger with Transnefteproduct and its achievements which were summed up by Transneft’s president Semyon Vainshtok in his opening speech.

Russian Government to Decide on Alternative Pipeline Route

Russian Ministry of Industry and Energy put forward a proposal to the Russian Government to build an alternative pipeline route to transport oil to the EU and the US bypassing Belarus and Poland to avoid possible inconveniences and bolster Russia’s reputation as a reliable energy supplier. The issue was raised last month by Transneft president Semyon Vainshtok who said his company, which will be operating the pipeline if the project is approved, would be ready to begin construction as early as in April.

Gazprom Takes Control of Sakhalin Energy

The shareholders of the operator of the Sakhalin II project signed a Sale and Purchase Agreement with Gazprom yesterday to pave the way for Russian gas monopoly to take control of the World’s largest integrated oil and gas project with estimated resources at the level of over 4 billion barrels. Gazprom will pay $7.45 billion for a 50% plus one share stake in Sakhalin Energy with Shell holding 27.5%, Mitsui 12.5% and Mitsubishi 10% of the shares.

An LNG Factory Project at Ceyhan Can Be Approved This Year

Turkish national pipelines network operator BOTAS, (who wished to remain anonymous), told to OGE that there is a preliminary study in progress aimed at building an LNG (liquified natural gas) processing plant project at the Turkish Ceyhan port.

Russia To Build Pipeline, Pump Gas from Turkmenistan

Russian President Vladimir Putin made a bold move to bolster Russia’s position as the leading gas supplier to Europe on Saturday by reaching an agreement to build a pipeline to pump Turkmen gas directly to Russia.

US Congress Passes Bill on Oil and Gas Cartels

The House of Representatives of the US Congress adopted a bill, declaring unlawful the creation of OPEC-patterned oil and gas cartels.

Ivanov Draws Attention to Oil&Gas, Calls for Nanotechnology Development

At today’s meeting of the Public Chamber of Russia First Deputy Prime Minster Sergei Ivanov opined that “the military-industrial complex should be seen as the driving force of diversification of Russian economy.”

Lukoil, Gazprom-Neft Set Up JV

Lukoil CEO Vagit Alekperov and Alexander Dukov, his counterpart from Gazprom-Neft, an oil subsidiary of Russian gas monopoly Gazprom signed a memorandum of understanding to create a joint venture to carry out projects in Russia as well as abroad. The state owned Gazprom-Neft will control 51% of the shares with Lukoil holding 49%. According to Gazprom-Neft, the companies will be managing the JV on the “basis of parity.”

Gazprom, Austrian Leading Oil&Gas Group Sign MOU

Gazprom Chairman Alexei Miller signed a memorandum of understanding with Wolfgang Ruttenstorfer, CEO of OMV, Austria’s largest energy company and Central Europe’s leading oil and gas group.

Today's Top Story --- Gazprom Pursues ‘Organic” Growth in UK, Denies Centrica Plans

Gazprom denied its interest in bidding for British company Centrica which controls British Gas despite earlier reports stating the Russian gas giant was looking to take it over along with Scottish and Southern Energy which caused their shares to grow. Still, Gazprom confirmed its intention to expand its presence in the UK market.

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Copyright © 2007 Eurasia Press (www.eurasiapress.com)