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Government regulation of the oil and gas industry in 2007 and future considerations for 2008

Government regulation of the oil and gas industry in 2007 and future considerations for 2008

By longstanding tradition, at the end of each year the National Energy Security Fund draws results of the Russian fuel and energy industry. We focus on political influence on the industry. Clashes between power cliques for oil and gas property escalate ahead of the presidential election. Political future of the country is not quite certain, which encourages Kremlin’s powerhouses fight for assets. State management of the industry is changing.

The study dwells on the following subjects:

  • Winners and losers of the year

    • Companies and their heads that have boosted their influence on the industry and fading stars
    • Standoff between Gazprom and Rosneft, establishment of the “exporters group,” the fate of the last standing private oil and gas corporations.
    • Future development of medium and small size oil and gas firms.
  • Transformation of oil and gas management system

    • Administrative reform and the fate of the governmental services in charge of oil and gas
    • Rotations and structural changes in the government’s oil&gas-regulating services.
  • Tax regime for oil and gas companies

    • The first experience of differentiated mining tax and other economic innovations.
  • Foreign companies in the Russian oil and gas industry

    • Reasons for success of some of them and failures of the others
    • Shtokman against Kovykta
  • Pipeline wars and new export projects

    • Escalating competition for Central Asia and the Caspian Region
    • Obstacles on the way of direct hydrocarbon supplies to Europe
    • Competition for transit in the former Soviet republics
  • Forecast for 2008

    • New Putin’s energy project
    • Possibility of a new wave of property redistribution
    • New system of political management in the oil and gas industry

The content of the report:

Introduction 2
Chapter 1. Key Factors for Russian O&G Industry Development in 2007 3
Chapter 2. Transformation of Oil and Gas Management System 8
Chapter 3. Competition for Assets: Winners and Losers 15
Chapter 4. Tax Regulation in the Industry 24
Chapter 5. General Results of the O&G Market in 2007 29
Chapter 6. Status of Foreign Companies in the Russian O&G Market 33
Chapter 7. Main Export Projects 40
Chapter 8. Forecast for 2008 48

Issue date 26th December 2007

If you are interested to obtain please contact » Elena Kim

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Oil and Gas Sector Regulation in 2022 and Prospects for 2023
Gazprom at the Forefront of Economic and Political Battles with Europe
Gazprom is being actively thrown out of the market. Its annual supplies to Europe have shrunk from the previous 150 billion to 65 billion cubic metres of gas. European officials assure that they have already learnt how to live without Russian gas, so they will bring its purchases down to but nominal values in 2023. Their main hope is liquefied natural gas. Today the EU must make a crucial decision: whether it has passed the point of no return in gas business with Russia and whether it is certain that its economy will endure without supplies of Russian pipeline gas. Or, on the contrary, Europe will realise after all that the gas balance will not be achieved and the payment for so headlong a rush for LNG will be disproportionate. Assessment of the potential volume of LNG that will appear on the market before the end of the current decade will be the most important factor for making the decision.

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