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Page added on July 22, 2014
Putin Mulls End To Gazprom Monopoly On Pipeline Gas Sales To China
The Russian government should consider allowing gas producers other than Gazprom to export gas from new fields in east Siberia and Far East, Vedomosti daily newspaper said, citing an order from President Vladimir Putin.
Russia’s Gazprom has a monopoly right to export gas via pipelines, clinching a $400 billion deal to ship gas to China over 30 years in May.
Russia’s top oil producer Rosneft, led by CEO Igor Sechin, promised to take Gazprom to the court if it refuses to allow other producers to ship gas via the planned ‘Power of Siberia’ pipeline, which should also bring gas to Russia’s remote eastern regions.
Citing an order recently signed by Putin, Vedomosti said that the government should consider opening up exports from eastern gas fields for firms other that Gazprom and their participation in infrastructure construction by September 1.
By then, the central bank and the government should also decide if Gazprom should be recapitalised to finance the construction of ‘Power of Siberia’ and the development of fields which Putin suggested last month. Total costs were previously estimated at $55 billion.
“We view this development as neutral for Rosneft, and negative for Gazprom, as this move may increase worries on the risk of challenging Gazprom’s monopoly in its regular westbound direction,” Alfa Bank said in a note, referring to Gazprom’s gas sales to Europe.
Last year, Rosneft and Novatek got a right to ship sea-borne super cooled gas out of Russia, breaking years-long Gazprom monopoly.
7 Comments on "Putin Mulls End To Gazprom Monopoly On Pipeline Gas Sales To China"
bobinget on Tue, 22nd Jul 2014 7:37 pm
One interesting development concerning Rosneft.
ROSN. london
Washington’s latest sanctions forbid US banks from financing any new Rosneft projects. (RNFTF New York)
Gazproml trades on US exchanges.
GAZP https://www.google.com/finance?q=MCX%3AGAZP&ei=QwLPU_jaKISgiQLd0IGoBg
Makati1 on Tue, 22nd Jul 2014 8:55 pm
An order from Putin is all it will take to persuade their congress to make the changes, I think.
At least their congress will get the chance to authorize it. Obama just issues an Executive Order and does it. We are up to E.O.#13,671.
Who is the dictator?
bobinget on Wed, 23rd Jul 2014 8:25 am
http://en.wikipedia.org/wiki/List_of_United_States_federal_executive_orders
President Total Orders Order Number Range
George Washington 8 unnumbered
John Adams 1 unnumbered
Thomas Jefferson 4 unnumbered
James Madison 1 unnumbered
James Monroe 1 unnumbered
John Quincy Adams 3 unnumbered
Andrew Jackson 12 unnumbered
Martin van Buren 10 unnumbered
William Henry Harrison 0 unnumbered
John Tyler 17 unnumbered
James K. Polk 18 unnumbered
Zachary Taylor 5 unnumbered
Millard Fillmore 12 unnumbered
Franklin Pierce 35 unnumbered
James Buchanan 16 unnumbered
Abraham Lincoln 48 unnumbered
Andrew Johnson 79 unnumbered
Ulysses S. Grant 217 unnumbered
Rutherford B. Hayes 92 unnumbered
James Garfield 6 unnumbered
Chester Arthur 96 unnumbered
Grover Cleveland – I 113 unnumbered
Benjamin Harrison 143 unnumbered
Grover Cleveland – II 140 unnumbered
William McKinley 185 unnumbered
Theodore Roosevelt 1,081
William Howard Taft 724
Woodrow Wilson 1,803
Warren G. Harding 522
Calvin Coolidge 1,203
Herbert Hoover 968 5075 – 6070
Franklin D. Roosevelt 3,522 6071 – 9537
Harry S. Truman 907 9538 – 10431
Dwight D. Eisenhower 484 10432 – 10913
John F. Kennedy 214 10914 – 11127
Lyndon B. Johnson 325 11128 – 11451
Richard Nixon 346 11452 – 11797
Gerald R. Ford 169 11798 – 11966
Jimmy Carter 320 11967 – 12286
Ronald Reagan 381 12287 – 12667
George H. W. Bush 166 12668 – 12833
William J. Clinton 364 12834 – 13197
George W. Bush 291 13198 – 13488
Barack Obama 183 13489 – 13671…
FDR dies in his Fourth Term. His record of 3,500 beats all as he brought the nation back from a greater depression then the one that faced President O.
Republicans decide they will oppose any legislation
brought forward by the Obama Administration. In this light 183 EO’s is pitiful. Mr Obama’s major flaw is being too conservative. Not radical as was FDR.
If you want a powerful dictator, move to Russia.
steve on Wed, 23rd Jul 2014 9:22 am
Bob, I think we are not out of this depression yet and what is coming will be worse than the great depression when the tide goes out..and it will be much, much more difficult to bounce out of it on this next fall down.
Davy on Wed, 23rd Jul 2014 9:40 am
Steve, there will be no bounce back. There will only be reboot at a much lower level of economic activity and let us hope a period of stability before the next fall.
JuanP on Wed, 23rd Jul 2014 11:11 am
If Putin wants it, he will get it. There is nothing like the Republicans in Congress in Russia. That is a rubber stamp parliament over there.
Seems like a reasonable move that would facilitate gas production, distribution, and exports. I expect further such moves in the future. Russia needs to open up the market and increase other companies’ investments in pipelines, too.
I suspect the Chinese and the Russians will start negotiating a deal for a pipeline and exports on the Western section of their borders, because Putin needs that to further diversify his energy exports if Europe applies sanctions.
Russia’s economic reliance on energy exports to Europe is Russia’s largest strategic weakness. Remember that it was the collapse in oil prices that brought down the USSR, not our armies and Putin must be aware of this.
Makati1 on Wed, 23rd Jul 2014 9:21 pm
JaunP, I’m sure there are other deals in the making between China and Russia. United, they can take down the Western Empire or at least cripple it so bad it has to pull in it’s military and become just a group of lessor nations again. We shall see.