Energy Blast – June 19, 2009
Source: http://www.robertamsterdam.com/2009/06/energy_blast_-_june_19_2009.htmPosted on Friday, June 19th, 2009 | In Market Commentary, Russia
The Energy Ministry is investigating ways of reducing taxes on undeveloped gas fields, having seen that even with high oil prices most projects would not be financially solvent. Ukraine’s energy company Naftogaz has said that to avoid the possibility of a gas suspension, European firms should consider buying Russian gas and storing it in Ukraine. Russian gas exports to Europe via Ukraine fell 45.5% in January-May 2009, year-on-year. The European Commission has cautioned Gazprom and Naftogaz to secure a long-term contract to maintain steady supplies of gas to Europe. Sergei Lavrov has met with EU ambassadors and ‘positively assessed Russian-EU cooperation’ over this issue. The FT
reports that a lack of investment in modernizing the energy
infrastructure of central and eastern Europe is an obstacle to guaranteeing upplies. If oil rises to $90 a barrel next year then Russia and Gulf Cooperation Council countries could enjoy a windfall, says Reuters. The move towards nuclear power is being accompanied by a global scramble to secure uranium supplies. Dow Chemical Co and Gazprom have agreed to work together to develop greenhouse gas reduction plans.
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Commission of European Communities;, Dow Chemical Co, Eastern Europe, energy, energy infrastructure, Energy Ministry, Europe, european commission, Gas Exports, gas suspension, Gazprom, greenhouse gas reduction plans, Gulf Cooperation Council;, high oil, Market Commentary, Naftogaz;, oil rises, Russia, Russia, Sergei Lavrov, Ukraine, undeveloped gas fields, USD
 About Robert Amsterdam (http://www.robertamsterdam.com/)
Robert Amsterdam is a lawyer and an advocate for rule of law. His blog was created to express views which may stimulate debate and discussion on topics of international interest. Robert believes that we live in a world of unchallenged impunity, and he views his blog as merely a small attempt to shine a light on issues he views as important in countries with which he is engaged. He make no apologies or pretense of objectivity - he is merely stating his opinions. |
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