The European Gas Market: Diversification False Start?

Special report:

Nord Stream 2 and Ukraine: Costs Should Decide

There has been much discussion about how Russia – Europe’s biggest gas supplier – can continue to supply gas to Europe over the coming decades in the most secure and cost efficient way. Gazprom and its European partners have decided that building two additional pipelines through the Baltic Sea (Nord Stream 2) is the best commercial solution to secure future gas supplies for the EU, where gas production continues to decline and demand is expected to grow.

Shale Revolution: Myths and Realities

The boom in shale gas production in the US and its wide-ranging influence on markets rocked the gas world. Liquefied gas deliveries were redirected, altering the already fragile balance of demand and supply in traditional markets for pipeline gas in Europe.

Liquefied Natural Gas Outlook: Expectations and Reality

World market has shown interest to liquefied gas. Russia has so far been aside of it. However, producers have announced several large LNG projects. The new study will help investigate this delicate subject and understand what is in store for LNG production and export in the nearest years.

Analytical series “The Fuel and Energy Complex of Russia”:

Services and Mechanical Engineering for Oil and Gas: Are Industry’s Foundations Secure?

The condition of service companies causes serious concern in the industry. A good deal of work depends on them, so in this respect their comparison with the foundations of the oil and gas building will not be an exaggeration. The question is how secure they are today. It is not only because of Western sanctions and dependence on foreign technology, even though this subject also needs special consideration. What is most intriguing is, after all, the main direction the Russian oilfield services industry will take.

Sanctions against Russian Oil and Gas: Pressure Continued

Almost five years ago Western countries imposed sanctions on the Russian oil and gas industry. Its performance indicators seem to give evidence that the companies have adapted to the restrictive measures. But the sanctions were not expected to produce an instant effect. The prohibitive measures may show their negative effect somewhat later. Then the restrictions on access to investment, technology, and markets may come to be felt.

Arctic: Soviet-type Gigantomania or Breakthrough Project?

The Arctic, before our very eyes, is gaining features of not even just a major project, but something approaching a national idea. The nation is rapidly returning to Soviet-scale development of the Arctic. It is time we spoke about a real “Arctic mania.” It very logically fits into the economic policy of the government whose reliance on major industrial projects is increasingly obvious. Therefore the Arctic becomes almost central on the list of the executive’s industrial priorities. And the principle supposed to be behind it is “at all costs.”

State regulation of the oil and gas sector in 2018, prospects for 2019

NESF traditionally concludes the year with its final report that sums up main events and tendencies of 2018. The year was rich in events in the political and production spheres.

Gazprom on Path to New Reality

Many saw the beginning of Vladimir Putin’s new presidential term as a window of opportunity for passing big decisions on restructuring of the gas market. The formation of a new government and media attacks on the Gazprom management were aimed at putting on the political agenda the issue of liberalisation of gas export and divestment of gas pipelines.

Looking for Best Tax Treatment of Oil and Gas: Fiscal Experiments Continued

The subject of taxation became the absolute hit of 2018. The government once again decided to rewrite the rules of the game. President Putin’s new inauguration decree served as the main pretext. It turned out that about 8 trillion roubles extra was necessary for the new national projects announced. The Cabinet did not take long to decide where the funds should be taken. The result was acceleration of the so-called tax manoeuvre started as far back as 1 January 2015. It suggested shifting the tax burden to the wellhead: the effect on the state budget of gradual abandonment of the export duty will be more than compensated for by quicker growth in mineral resources extraction tax (MRET). The laws on tax reform have already gone through the parliament and will take effect as of next year. This means nothing good for companies.

Results of Pivot to the East in Oil and Gas Sector

The plan of the pivot to the East began to be implemented in the Russian oil and gas sector long before another worsening of relations with the West. The motives behind it were most pragmatic. Consumption of oil and gas grew in Asia, and limited local reserves made it possible to forecast with confidence that Asian countries would top the list of importers of hydrocarbons. Meanwhile, Russia does have reserves of oil and gas in the East that could be monetised.

New government structure and FES: Reformatting the state system administrating the sector

Inauguration of Vladimir Putin this May was followed by reformatting of the Russian government and the system of executive power in general. These changes seem to be cosmetic, as the PM and many ministers preserved their seats. However, HR novelties are quite significant, and they directly concern the oil and gas sector. The reshuffle has not finished yet – the mop-up and structural changes still continue in some ministries. Yet, main players have already taken their seats, and it is possible to draw the first results of reformatting of the system administrating the oil and gas industry.

All reports for: 2015 , 14 , 13 , 12 , 11 , 10 , 09 , 08 , 07