ExxonMobil and Oil Search, Papua New Guinea’s leading oil and gas producer, have ditched a $5.5bn plan to build a gas pipeline between PNG and Australia, saying they would focus instead on other more “promising investments” to tap into the vast gas reserves of the Pacific nation. The decision was anticipated as the project had … Read More
Gas
Belarus Criticises Russia Over Gas Price Rise
Alexander Lukashenko, the Belarusian President, has criticized Russia over it recent gas price increases, calling them “shameless.” In retaliation, he is threatening to charge Moscow for transiting oil across his country. “If those in Russia, choking on this influx of petrodollars and other sources of hard currency, are still willing to make a scapegoat of … Read More
Congressional Committee to Examine Iranian Gas Deal
A US congressional committee is to look at a gasfield development deal between the China National Offshore Oil Corp (CNOOC) and Iran to determine if US sanctions are called for against the Chinese company, Congressman Tom Lantos has said. Iran and CNOOC signed a preliminary 16 billion US deal to develop a giant natural gas … Read More
Russia Punishes Georgia with Huge Gas Price Hike
In a move that has echoes of a year ago, Russia has announced that it is to double the price of gas to its neighbour Georgia. The move is being seen as part of its increasingly bitter campaign of retribution against the country, which is already reeling from a string of punitive measures imposed by … Read More
US Builds LNG Terminals for Imported Gas
A quiet revolution is taking place in Louisiana, courtesy of company you have probably never heard of: Cheniere Energy. With help from Exxon Mobil and others, Cheniere are building three new liquefied natural gas terminals that will double America’s capacity to import natural gas by 2011.
EU Wants Energy Giants Split Up
The European Competition Commissioner has sent shock-waves through the region’s energy industries by proposing that integrated French and German gas and electricity giants might be broken up.The Commissioner, Neelie Kroes said there were too many conflicts of interest for companies that own distribution networks as well as supplying customers. She promised a more wide-ranging regulatory … Read More
Sweden Attacks Baltic Gas Pipeline
Sweden’s Prime Minister, Goran Persson, has attacked an ambitious project to build a 750-mile gas pipeline beneath the Baltic Sea as a potential ecological disaster. Despite his comments the ÂŁ3.4bn pipeline project –called the North European Gas Pipeline or NEPG – is going ahead.
Biggest Polluter
Sunday’s local newspaper reported that gasoline sales in Vermont were 13 percent below prediction in February of this year and almost 15 percent low for May. I have no theories on the May swoon, aside from the toll continued high prices are having on us all, but I’m reasonably sure the February dip was due … Read More
Energy Security Fears Haunt G8 Finance Meeting
The G8 Summit in St. Petersburg is now just weeks away but last weekend saw the city host a meeting of the G8’s Finance Ministers. Although there was said to be “plenty of smiles and warm words about friendship and collaboration”, the politicians failed to find unity over the sensitive issue of energy security.
Putin Talks Tough With EU
Russia’s President Vladimir Putin is said to have “icily” rejected US and EU criticism of Russia’s blatant use of gas resources as a political weapon in a dispute with Ukraine earlier in the year. More importantly he also publicly rebuffed European attempts to gain access to his country’s vast gas pipeline network. Putin’s tough stance … Read More