On October 10, Gazprom expressed that since June when concerned countries put off South Stream gas pipe from Russia to Europe, the construction of South Stream gas pipe had risen from 16 billion euro to 23.5 billion euro. EU took above measures under the circumstance that crisis in the eastern of Ukraine resulted in strained relationship between EU and Russia and sanctioning on each other. Analysts consider that construction cost is disadvantageous for South Stream gas pipe advancing. However,...

Gas is always treated as eco-friendly fuel. The U.S. has ever expected to use gas to get rid of pollution caused by coal. Because of total of carbon dioxide released by burning coal is two times of gas. However, a new research points out that widely using low price gas may not reduce carbon emission in the U.S. Gas may hinder using cleaner renewable energy sources such as wind energy and solar energy. Steven Davis, joint author of paper and the energy scientist of University of California,...

Japan intends to activate energy cooperation with Russia. In its new plan, Japan plans to build an oil refining plant which is not far from Vladivostok and build under gas pipe from Sakhalin to Tokyo crossing though Japan Sea. Mayor of Niigata announced that the oil refining plant would be invested and build completely by Japanese and Niigata would become the main transfer terminal of products manufactured in the plant. The new plant will provide new power for Japan to buy oil from...

Rosneft claimed that they had already found an oil field in the Arctic Pole with the assistance of Exxon Mobil, which meant that the explored region may become one of the most important global oil-producing regions. Igor Sechin, the CEO of Rosneft announced that there were as high as 1 billion barrels of oil existing in the operating drilling. The same geologic structure means that oil reserves in the region is comparable with that in Gulf of Mexico. It is a pity that the expiration...

Guenther Oettinger, the energy commissioner of EU claimed that he hoped that Russia could reach a transitional solution with Ukraine for gas which having been cut off for three months on the meeting between Russia, Ukrainian government and Ukrainian pro-Russian, held in Berlin this Friday. However, he also indicated that EU may be forced to expand current sanction list on Russia including Russian gas sector without any fast solutions. “We do not expect that the worst affairs...

Import volume of oil from Iran to China increases significantly. Iran has already become one of the most important oil suppliers for China. What’s more, China also becomes the largest trade partner for Iran officially since 2009 when exceeded EU and the leading investments supplier, which filled up value of trade left behind by the Western withdrawing. Due to be sanctioned by the Western, energy export in Iran suffers from limitations. So China hold amount of Iranian oil orders....

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...