On September 17, Miller, the CEO of Gazprom said that Russia had already negotiated with China for gas supply through the Western Line and discussed the possibility of expanding the quantity of gas supply. On that day when Miller reported Putin, the Russian President, he stated that Russian and China were planning to sign a contract that supply 30 billion cubic meters per year of gas to China through the Western Line, which would be lasted for 30 years and discuss the possibility that expand...

Growth rate of Chinese gas demand in 2014 may decrease to the lowest level in three years. And it will continue falling in the next year. Due to Chinese economy slowing down and demoded raising price, gas demand will be far lower than anticipation. The slowing growth rate means that demand will be difficult to reach to the expectation of IEA. It is afraid that new gas programs will be impossible to be developed, which are supposed to sell gas to China originally. In June, IEA had ever claimed...

Before dawn on September 11, a cargo ship loading 4 hundred thousand barrels of American gas condensate will arrive at Port of YOSU in Jeollanam-do, Korea. Korean oil industry is very concerned about that. It is the first time for 41 years that Korea imports oil from the U.S. Korea may get rid of excessive dependence on Middle East gradually. When Arabic countries adopted oil embargo to the U.S. in 1973, the U.S. is always strictly restricting oil export for ensuring steady energy supply...

Moscow is seeking for prevent EU from exporting Russian gas to Ukraine. It threatens to cut off all of lifelines of Kiev which may intensify Ukrainian energy crisis in this winter. When Moscow gives out threat, officials of EU are preparing new sanctions on Rosneft, Gazprom Neft and Transneft, which will limit the capacity of those corporations entering into the Western financial market. However, if the cease-fire agreement signed between Kiev and separatist...

On Tuesday, Slovakia announced to launch a pipe to supply gas to Ukraine from EU. It is an important step that EU provides support to Ukraine for the upgrading disputes with Russia. Reverse gas supply means that EU will supply gas to the eastern of Europe, as one of the responses for Gazprom cutting of gas supply to Ukraine on June 16. Arseny Yatsenyiuk, the Prime Minister of Ukraine says that the pipe will meet 20% of Ukrainian gas demands. Meanwhile it also shows that further unity...

This year, LNG market has already entered into cold winter. The whole industry is depressed, needing all of efforts to rescue market together. LNG market in China has overcapacity. It is known that Chinese LNG market is entering into a pathologic cycle gradually since 2013. Explosive growth of capacity in upstream and gradually slowing of demands in downstream, have caused overcapacity in the whole market. In 2013, the situation did not be remitted and even become the main background of Chinese...

On Monday (August 25), for tense relationship between Russia and Ukraine, Maria Van der Hoeven, the Chief Executive of IEA claimed that EU still has high dependence on Russian gas in the short term and it needs more time to realize the diversification of energy supply. Van der Hoeven pointed out that EU is lack of diversified leeway. In the foreseeable future, the gas from Russia is still indispensable for most of European countries. Nowadays, one third of gas consumption in EU comes from...

It is reported that the deal between Rosneft and Vitol, the oil trader which is worth for 2 billion dollars has already fizzled out. It is the new indication that the upgrading sanctions by the Western are hindering the Russian state-owned oil corporation to realize its ambition. Before, Vitol, the largest global independent oil trader has always been negotiating in order to raise 2 billion dollars from the American and European bank, using as advance payment for Russian to get oil supply...

Energy Aspects, a consulting company in London claims that the substantial decline of oil demands is a leading indicator that global economic growth slows down. The new GDP published by Europe and Japan also proves that. For the weak demands of European and Asian oil refineries and the falling risks of geopolitics felt by market, as the standard of global oil price, Brent oil price has fallen by 12% compared with the highest level in the mid of June. Energy Aspects shows that it is still...

It is reported that recently, Jonathan, Nigerian President appealed to increasing gas supply, because insufficient gas has already raised the costs of manufacturers and threatened the policy that the government controls prices. In Nigeria, gas is main fuel used to generate electricity by most of enterprises. On last Friday, Dangote Cement plc the largest enterprise in Nigeria and also the largest cement manufacturer in Africa stated that the corporation had to use heavy oil for power generation...

For the deteriorating relationship with the Western deteriorating, Russian energy industry is treating Asia as its new axis of business. Russian oil export to the region has already reached a new high level in history. Many analysts also predict that Russia will promote part of Asian energy enterprises largely. Trading figures and estimation of analysts show that 30% of total volume of Russian oil export enters into Asian market since 2014. Proportion which exceeds 1.2 million barrels per...

It is reported that in recent days, Gerhard Reus, the CEO of OMV states that South Stream gas pipe in contemplation will not be abolished although the western and Russia confront each other because of the crisis in Ukraine. The CEO said, “The gas pipe is a program which will last for 50 year. For that, South Stream gas pipe should be considered from realistic perspective.” He also stressed that customers expected to utilize the gas pipe to transmit gas. Nevertheless, none of possibility...