Poland last year unveiled designs not only to cast of its irksome energy dependence on Russia, but also to become a European energy exporter by making a drive for shale gas production starting in 2014. The European power is hoping to repeat the United States’ shale gas revolution after Poland published surveys that estimated it is sitting on colossal untapped gas deposits lodged in shale rock. Such reserves may extend throughout Europe.
Gazprom and BASF have signed a basic agreement to swap assets of equivalent value. The transaction is to be completed by the end of 2013.
As a result, BASF will expand its production of oil and gas to exit the gas trading and storage business.
Five state controlled Polish companies said they have extended the deadline to February on a decision about the structure of its potential joint venture for exploration for shale gas in Poland.
Ukraine plans to sign PSA with Chevron, Exxon Mobil and Shell to develop shale gas and offshore field in the first half of December, Environment and Natural Resources Minister Eduard Stavitsky said.
The Russian government has agreed to apply special tax regimes to several fields operated by Lukoil in the Caspian allowing the private company to operate at a profit.
In the course of the contract in 2013, TNK-BP announced eight tenders for a new model of contracting EPC (Engineering Procurement Construction) for a total of about $ 500 million.
Gazprom has indefinitely postponed development of its giant Shtokman gas field, the latest delay to its yearslong efforts to tap the Arctic field with France's Total SA FP.FR -0.84% and Norway's Statoil ASA STL.OS -0.07%.
Russia's gas monopoly Gazprom OAO plans to start construction of the 3,600-kilometer South Stream pipeline Dec. 7 after confirming the final investment project Nov. 14, the company's Chief Executive Alexei Miller said Tuesday, Russian news agencies reported.
BP and its Russian partner AAR say they have settled all disputes between them as both prepare to sell their stakes in their lucrative but contentious joint venture, TNK-BP.
Gazprom and Japan's Agency for Natural Resources and Energy have signed a program on scientific and technical cooperation for 2012-2014.