Uppsala University in Sweden says the IEA's annual World Energy Outlook 'drastically underplayed the scale of future oil shortages'.  Prime Minister Vladimir Putin has won Slovenia's approval for the South Stream pipeline, 'undermining European Union efforts to reduce dependency on Russian gas supplies'.  A deal was signed late on Saturday, marking the fifth and final signatory of 'all the European partners needed for this project to be completed'.  Gazprom could receive 'exclusive rights' as a supplier of liquefied natural gas to Singapore after the expiry of a current contract with British Gas.  RusAl is planning to sell a 10% stake to help repay its $14 billion debt, and may offer special ventures and access deals in a reported bid to help China take the lion's share.  Iranian President Mahmoud Ahmadinejad says his country's nuclear rights are 'not ...

Despite the low natural gas prices, Royal Dutch Shell (RDS.A) intends to increase its natural gas production in North America. The company has marked its deepwater discoveries in the Gulf of Mexico as well as from giant shale formations in western Canada, the Rockies and the Gulf Coast for this production growth.  While the company declined to say how much the expected North American gas production to grow, it believes that long-term natural gas prices will recover. Royal Dutch Shell has a leading position in natural gas.  The company is the second largest natural gas producer in the world and has led its super major peers in monetizing its substantial worldwide equity natural gas resource base by investing in liquefied natural gas (LNG) and Gas-to-Liquids (GtL) technologies. Royal Dutch Shell has emerged as a clear leader in the fast-growing LNG business.  The group continues to ...

Qatar is a red-hot economy. Last year it grew around 18% and this year it ought to grow another 16%. We saw the headlines in the Gulf Times in the lounge while waiting for our transfer to Dubai.

Qatar’s greatest asset is its natural gas reserves. In fact, the largest gas field in the world is here. Its discoverers were disappointed when they found it in 1971. They were looking for oil.

The boom Qatar now enjoys is the result of some daring investments in liquefied natural gas (LNG) back when people thought doing such a thing was a little batty. Faisal Al Suwaidi, the head of Qatargas, deserves the props for his wager, which have paid off handsomely. Today, Qatar produces about one-quarter of the world’s natural gas.

Qatar supplies such faraway customers as Japan, India and China. Qatargas also operates the largest LNG terminal in Europe at South Hook on

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China is Investing Billions in Renewable Energy One firm has already built China’s largest wind turbine manufacturing factory. And it’s working with the Chinese Science Academy to develop new wind, solar, and geothermal technologies… for which it will own 70% of the rights. But this company’s business reaches far beyond the Chinese border, with operations in Southeast Asia, the Middle East, Africa and Eastern Europe. It’s first quarter net income increased by 294% over a year ago. Click here for the full report.

A $15 billion deal for liquefied natural gas (LNG) involving Australia, China and global-oil heavyweight Exxon-Mobil Corp. (NYSE: XOM) has prompted many investors to worry that China may be using its global-markets muscle to “paper over” cracks in the global economy.

In reality, however, this mega-deal is a harbinger of what’s to come, and highlights the road that global investors must travel in their journey …

According to Bloomberg, although Russian oil production increased this year, defying forecasts, it will inevitably decrease due to the slump in investment when crude prices dropped.  Novatek has reported a 1.6% increase in net profit in the second quarter of 2009, year-on-year, exceeding analysts' expectations of the profitability of Russia's second largest gas producer.  To learn some facts about Iran's current energy partners, look here.  Exxon Mobil Corp and PetroChina have reached a $41 billion agreement on liquefied natural gas, apparently representing Australia and China's biggest trade contract to date.  The deal for 2.25 million metric tons of liquefied natural gas every year will come from ExxonMobil's 25% stake in the field, in which Chevron has a 50% stake and Shell the remaining 25%.  Managing to overcome diplomatic tensions regarding Rio Tinto to seal the deal has ...

Exxon Mobil Corp. (XOM) declared that the first liquefied natural gas (LNG) cargo has arrived at the Adriatic LNG regasification terminal located offshore of Porto Levante, Italy. The terminal is the first offshore gravity based structure in the world for unloading, storage and regasification of LNG.   The terminal is owned by Qatar Terminal Limited (a Qatar Petroleum subsidiary owning 45%), Exxon Mobil Italiana Gas (45%) and Edison (10%).   The regasification terminal utilizes Exxon Mobil proprietary technology. Designed around a large concrete structure, the terminal houses two LNG storage tanks, a regasification plant and facilities for mooring and unloading LNG vessels.   Once it reaches full operational capacity later in 2009, the terminal will be able to deliver 775 million cubic feet of natural gas per day or approximately 10% of Italy’s current natural gas requirements.   Notably, Exxon Mobil has also recently started another LNG regasification terminal

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Lukoil is apparently contemplating a joint refinery investment with ConocoPhillips on the East Coast of the US.  ConocoPhillips says it has no plans to build a new US refinery.  Russian gas exports to countries other than ex-Soviet bloc fell 50% year on year in January to May.  As the Ukraine-Russia gas problem rumbles on, the EU has been attempting to put together a loan for Kiev as it hits another payment deadline for its gas debt to Russia.  Ukraine's state firm Naftogaz could secure up to $4 billion in financing with the help of Russian investment bank Troika.  The world's biggest buyer of liquefied natural gas, Korea Gas Corp., and Mitsubishi Corp. have agreed to jointly consider the possibility of developing gas reserves in Venezuela and purchasing stakes in liquefied natural gas plants in Australia and ...

Deputy Prime Minister Igor Sechin has said that should Europe offer support, Russia may assist in a gas loan to Ukraine.  It seems unlikely that the EU will agree, with European Commission President Jose Manuel Barroso saying a loan would be 'difficult', if not 'impossible'.  Gazprom has announced that it is speeding up its plans to sell liquefied natural gas to a wider range of customers.  TNK-BP has sold its oil field-services unit for $489 million to Weatherford International.  Turkmenistan has shut off 195 gas production fields, with 92% of its exports to Russia remaining suspended since the April explosion, the result of a 'vacuum-bomb effect' blamed on Gazprom.  Reuters reports that Turkmenistan is threatening to sue Russia over the blast.  The former's energy prospects are looking positive; a geological survey has suggested that that country ...

'In principle we can come to the conclusion that we are on the verge of a crisis'.  Could a row about stockpiling lead to a new gas war between Russia and Ukraine?  Prime Minister Vladimir Putin will meet his Ukrainian counterpart Yulia Timoshenko to elucidate the situation regarding Ukraine's payments for Russian gas.  President Medvedev apparently has 'doubts about Ukraine's ability to pay', and is recommending that the EU help the state to get a syndicated loan.  One of the founders of Gazprom has said that to maintain Ukraine's pipeline system, which was one of the first in the USSR, requires yearly investment of $1.5-2 billion.  Gazprom has paid Ukraine in advance for all of its gas transit for 2009.  TNK-BP saw first-quarter earnings drop 58% after crude prices declined.  Have relations between Russia and ...

A new poll of 11 economists shows that economists expect real economic growth in Saudi Arabia, the United Arab Emirates and Kuwait to slow - but remain positive!br /br /The good news is that the sconomies are still expected to expand. What is clear, however, is that the Gulf is sensitive to the oil price. Obviously, a fall in oil prices from $147 a barrel to $34 a barrel has an impact. br /br /The forecasts are for real growth of 2.4 percent in Saudi Arabia, 2.7 percent in the UAE and 3.5% in Bahrain. Qatar, the world's top exporter of liquefied natural gas, is expected to see the fastest GDP growth next year at 9.5 percent!br /br /We will monitor the extent of the slowdown in the non-oil sectors. across the Gulf will be a key element to monitor," said Giyas Gokkent, chief economist at ...