![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() by Daniel J. Graeber Moscow (UPI) Dec 11, 2015
Full-year Russian natural gas production could be off by about 2 percent because of what the government said was expectations of lower consumption. Russian Deputy Energy Minister Kirill Molodtsov said gas production for full-year 2015 could be lower than last year by about 2 percent, or around 423 billion cubic feet. "Unfortunately, we expect some decline in gas production again due to the volume of consumption," he was quoted by Russian news agency Itar-TASS as saying. Russia holds the largest reserves of natural gas in the world, accounting for about a quarter of the world total of proven reserves. The gas sector is controlled almost exclusively by state-run energy company Gazprom, which faces anti-trust pressure from European economies given its control of both reserves and export arteries. Lower energy prices, meanwhile, are hurting exporting nations like Russia. Last week, Russian President Vladimir Putin told members of the Federal Assembly the current economic situation was complicated but "not critical." "You can't call it stagnation," Molodtsov said. "You may only speak about the positive effect of energy efficiency but one should acknowledge that there is a problem, which should be resolved in 2016." Igor Artemyev, the head of Russia's Federal Antimonopoly Service, in October suggested a breakup of Gazprom in an effort to address leverage concerns. Molodstov said there have been no concrete discussion on dividing Gazprom into production and transit entities, "but there should be such an option." Total natural gas sales for Gazprom increased 1 percent for the first half of the year, with much of the increase driven by sales to Europe.
Related Links All About Oil and Gas News at OilGasDaily.com
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - 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. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. 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. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |