Latest Energy in Russia Stories

2008-10-03 21:00:19

MOSCOW. Oct 3 (Interfax) - Russian-British joint venture TNK-BP (RTS: TNKO) plans to start shipping oil from the Verkhnechonsk field in the Irkutsk region to the East Siberia-Pacific Ocean (ESPO) oil pipeline in October, said Viktor Vekselberg, a TNK-BP co-owner and chairman of the Renova Group's board of directors. "We will complete the first stage with the realization of the Verkhnechonsk project in the Irkutsk region in October and intend to link up the already completed ESPO section to...

2008-10-03 21:00:19

MOSCOW. Oct 3 (Interfax) - Members of the Trans-Balkan ipeline B.V. () supervisory board have unanimously approved Germany's ILF Consulting Engineers as a technical consultant in the project to build the Burgas-Alexandroupolis oil pipeline, Russian pipeline operator Transneft (RTS: TRNF) said in a statement citing the TBP press service. ILF will carry out a wide range of work to update the feasibility study for the project, which will enable TBP to receive the documentation it needs to...

2008-10-03 21:00:19

YUZHNO-SAKHALINSK. Oct 3 (Interfax) - The Sakhalin-Khabarovsk- Vladivostok gas pipeline may have capacity of up to 30 billion cubic meters (bcm), Viktor Timoshilov, the coordinator for Gazprom's eastern projects, told journalists. Capacity will be roughly 10 bcm in the first phase to 2011. "We can reach one-third of the capacity of the pipeline in 2011," he said. The pipeline will be supplied with gas from the Sakhalin-1 project, and later from the Kirinskoye, East Odoptu and Ayashskoye...

2008-10-03 12:00:22

Text of report in English by Bulgarian national news agency BTA Sofia, 3 October: The government continued the practical implementation of the agreements which Bulgaria has on a bilateral basis with Russia - above all, in the field of energy and the building of a new nuclear power plant at Belene, Prime Minister Sergei [Sergey] Stanishev said during Question Time in Parliament on Friday [3 October]. A strategic partner has already been designated for the Belene Nuclear Power Plant - the...

2008-10-03 12:00:22

Text of report by Croatian newspaper Vjesnik website on 1 October [Commentary by Zeljko Buksa: "Regional Network for Cheaper Natural Gas"] With the increasing number of problems with securing energy sources and their increasing price on the one hand, and projects of connecting natural gas systems with neighbouring states that are being implemented on the other hand, Hungary's Natural Gas Transmission company, a member of MOL [Hungarian Oil Industry] Group, has come up with an interesting...

2008-10-03 09:00:33

By Robert Johnston and Clifford Kupchan Common wisdom says that Europe and Russia are bound by an umbilical cord - energy. EU members are dependent on Russia's oil and gas, while Russia depends on the enormous export revenues that the European market generates. But over the next decade, both sides have more options than commonly assumed. And as the Georgia conflict vividly demonstrates, for geopolitical reasons each might exercise those options. The current bond is tight. According to...

2008-10-02 18:00:26

ST. PETERSBURG. Oct 2 (Interfax) - The first flows of oil from the Talakan field, owned by Surgutneftegas (RTS: SNGS), have reached the East Siberia-Pacific Ocean (ESPO) oil pipeline, Russian Energy Minister Sergei Shmatko told the Petersburg Dialog forum on Thursday. "A new oil-bearing province has started operating in Russia. Oil has been arriving from East Siberia's Talakan field for two days now," he said. Surgutneftegas did not comment to Interfax on the energy minister's statement,...

2008-10-02 15:00:57

Excerpt from "Vesti" news report by state-owned Russian television channel Rossiya on 2 October [Presenter] At another working meeting today, [Russian Prime Minister] Vladimir Putin discussed the construction of the strategic oil pipeline Eastern Siberia - Pacific Ocean, the ESPO. Its first 1,000-km-section, from Talakan to Tayshet, will be launched tomorrow, and it will start taking oil to the Angarsk oil refinery. [Passage omitted: background details] As the prime minister said today,...

2008-10-02 06:00:32

Eni and Gazprom have agreed to sign a new binding document by the end of October 2008 relating to the development of the Artic Gas assets that Eni acquired in 2007. In particular the agreement will relate to the development plan as well as the offtake and transportation of the gas from Artic Gas. The agreement to be signed will enable Gazprom to enter the Libian upstream. Eni and Gazprom also reviewed the progress made on South Stream.

2008-10-02 06:00:31

Russian oil and gas major Gazprom and Korea Gas have signed a memorandum of understanding regarding natural gas supplies from Russia to Korea. The memorandum of understanding stipulates the possibility of laying a pipeline for natural gas supplies to Korea across the Korean Peninsula, as well as performing joint surveys on this route. The parties agreed to proceed with the commercial negotiations and to prepare the investment rationale for the project before the end of 2010. A decision...

Word of the Day
  • Like a worm in form or movement; vermiform; tortuous or sinuous; also, writhing or wriggling.
  • Like the track or trace of a worm; appearing as if worm-eaten; vermiculate.
  • Marked with fine, close-set, wavy or tortuous lines of color; vermiculated.
  • A form of rusticated masonry which is so wrought as to appear thickly indented with worm-tracks.
This word ultimately comes from the Latin 'vermis,' worm.