Subscribe free to our newsletters via your
. Military Space 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
U.S., Polish companies to improve radar of Patriot missile defense system

South Korea to develop homegrown interceptor instead of THAAD

US MDA and Northrop Grumman Conduct Wargame to Improve Understanding of BMD Complexity

US seeks greater missile defense cooperation by Japan, South Korea

OIL AND GAS
Raytheon remanufacturing upgrading Phalanx weapon system

Brazilian Army inducts new variant of rocket artillery

LockMart Receives Contract For MK 41 Vertical Launching System

Combined Diehl, Elbit missile counter-measures for Germany's A400Ms

OIL AND GAS
Fire Scout flown in conjunction with manned helicopters

Lockheed Demonstrate 2nd Series of Advanced Autonomous Convoy Ops

US may send in drones to Iraq to battle jihadists

Manned and Unmanned Helicopter Flight Tests Aboard the Littoral Combat Ship

OIL AND GAS
UK Connects with Allied Protected Communication Satellites

Technology firm Celestech now part of Exelis

Mutualink Connects Soldiers with Disparate Tactical Networks and C2

Raytheon awarded contratc for USAF FAB-T satellite terminal program

OIL AND GAS
Maintenance contracts awarded for British military's small boats

Indra supplying electronic defense system to South Korea

Optosecurity, Smiths Detection in new agreement

Audit reveals 'systemic' access to care woes for US veterans

OIL AND GAS
State Department approves $241 million arms sale to Brazil

US, Australia leaders eye more defense cooperation

Singapore charges firm over weapons-smuggling to N. Korea

Britain's military moves to broaden supplier base

OIL AND GAS
NATO releases photos of suspected Russian tanks in Ukraine

Wary of Chinese advances, India's Modi woos neighbours

Russia accuses Ukraine of using banned weapons

Japan summons China envoy over mid-air near miss

OIL AND GAS
Targeting tumors using silver nanoparticles

Evolution of a Bimetallic Nanocatalyst

Design of self-assembling protein nanomachines starts to click

Opening a wide window on the nano-world of surface catalysis




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.