Subscribe free to our newsletters via your
. Solar Energy News .




OIL AND GAS
Gazprom switches Ukraine to pre-payment because of overdue gas bills
by Daniel J. Graeber
Moscow (UPI) Jun 16, 2013


More than $1 trillion in new money coming to oil in eastern Russia
Moscow (UPI) Jun 16, 2013 - Major investments in oil operations in the eastern part of Russia will boost export potential by 2035, Deputy Prime Minister Arkady Dvorkovich said Monday.

Dkorkovich said investments in the oil industry in eastern Russia are expected to grow by more than $1 trillion.

"Oil production and supplies will grow in the eastern region of the country," he said. "The part of the eastern direction in the total exports of oil and petroleum products will increase from 12 percent to 23 percent."

Russia is one of the world's leading oil producers, producing more than 10 million barrels of oil per day on average. Most of the country's oil fields are in the western region of Siberia.

The head of a Russian joint venture between Shell and Gazprom Neft signed an agreement in January to use hydraulic fracturing to tap into an oil formation in Siberia.

When combined with gas exports, oil accounts for about 10 percent of the Russian gross domestic product.

Russia's Gazprom said Monday it switched Ukrainian gas company Naftogaz over to the new payment scheme because of $4.45 billion in overdue bills.

"Payments [for June] also were not received," the company said in a statement. "Starting from today [Monday] the Ukrainian company will receive only prepaid volumes of Russian gas."

Trilateral talks between Russian, European and Ukrainian officials dragged on for most of last week without a breakthrough.

Russia offered some concessions to the Ukrainian side, though the government in Kiev said it was wary of the Russian intentions. European officials have said the region's energy sector was subject to "political and commercial blackmail."

Russia supplies about a quarter of the European Union's gas needs, though most of those supplies run through the Soviet-era transit network in Ukraine. Debt disputes in 2006 and 2009 prompted Gazprom to cut gas to Ukraine briefly, causing regional energy shortages.

Alexei Pushkov, the head of the Foreign Affairs Committee in the state Duma, said Monday the switch to a pre-payment scheme was long overdue.

"Let [Ukrainian Prime Minister Arseniy] Yatsenyuk get shale gas from the United States," he said.

.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








OIL AND GAS
Philippines calls for freeze on actions in S. China Sea
Manila (AFP) June 16, 2014
The Philippines on Monday called on nations with overlapping claims in the South China Sea to halt all action that could provoke tensions in the area, amid fears of China's expansionism. Foreign Secretary Albert del Rosario said he backed a US proposal for a fresh regional dialogue that could take place within the year where he hoped to put the moratorium plan formally on the table. "Let ... read more


OIL AND GAS
Genome could unlock eucalyptus potential for paper, fuel and fiber

EU agrees plan to cap use of food-based biofuels

More than just food for koalas -- eucalyptus -- a global tree for fuel and fiber

York scientists provide new insights into biomass breakdown

OIL AND GAS
Supercomputer emulates teenager to pass 'Turing Test'

Football-playing robots eye their own cup, and beyond

New computer program aims to teach itself everything about anything

DARPA Z-Man Program Demonstrates Human Climbing Like Geckos

OIL AND GAS
Scotland attracts more investments to renewable energy sector

Wind turbine payback as fast as 8 months

Sopcawind, a multidisciplinary tool for designing wind farms

Scotland says it's well on its way to cut emissions by as much as 80 percent

OIL AND GAS
Tesla gives up patents to 'open source movement'

European taxis cause chaos in app protest

Elon Musk: 'We could definitely make a flying car'

Uber taxi app valued at $17 bn in new funding round

OIL AND GAS
Coal consumption highest since 1970

Charging Portable Electronics in 10 Minutes

Technology using microwave heating may impact electronics manufacture

Rice University produces carbon-capture breakthrough

OIL AND GAS
Japan minister apologises for Fukushima money gaffe

AREVA awarded a contract to provide services for Kozloduy 5 and 6 VVER nuclear reactors

AREVA to provide additional modernization services for Gosgen Facility in Switzerland

India nuclear reactor attains 'full capacity'

OIL AND GAS
Japan plans carbon offset scheme with India: report

How Much Energy Will the 2014 World Cup Consume?

US invests in technology to make electric grid more secure

Report Estimates Costs and Benefits of Compliance with Renewable Portfolio Standards

OIL AND GAS
Forest loss starves fish

For forests, an earlier spring than ever

Environmental 'one-two punch' imperils Amazonian forests

Land quality and deforestation rate in Brazil




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.