Natural gas supplies to Russia’s domestic market are about twice the size of supplies to its export markets. Most of the gas supplied to the domestic market is used for electricity and heat production, which account for about 50 per cent of domestic natural gas consumption – more than 200bcm annually. Natural gas demand in […]
With European gas import demand having risen substantially since 2014, Gazprom has dramatically increased its sales on the European market. In Q1 2018, Gazprom reported record daily gas exports to Europe in late February and early March. This Comment addresses the question of how those volumes were delivered to the market, and the extent to […]
The final decision in the commercial arbitration between Gazprom and Naftogaz Ukrainy, on multiple disputes over their gas supply and transit contracts for 2009-19, was issued late last month. The total claims in the case, which started in 2014 at the Arbitration Institute of the Stockholm Chamber of Commerce, were reported to be higher than […]
Gazprom has confounded many expectations by enjoying two record years of gas sales in Europe in 2016 and 2017. External factors have certainly played a role in its success, with overall European demand rebounding, indigenous production continuing to fall and alternative sources of imports failing to deliver at the expected levels (especially LNG). In addition, […]
The sale and purchase of Russian gas in the post-Soviet era has been dominated by the need for Gazprom, the dominant player, to sell to consumers at a regulated price. Since 1998 other producers, known in Russian legal terminology as the independents, have been able to sell gas at market prices, but these prices have […]
In a world of low commodity prices the potential for conflict between hydrocarbon producers and governments over tax revenues is exacerbated. In Russia this is even more true because the state relies so heavily on taxes from the oil and gas sectors and because producers are increasingly having to invest in new more remote assets […]
On 12 June 2017 the European Commission (EC) asked the Council of the European Union (EU) (Council) for a mandate to negotiate an agreement with the Russian government on the operation of the Nord Stream 2 pipeline. On 27 September 2017 the Council’s legal service delivered an opinion, which stated that there is no legal […]
In June 2009 the European Commission (EC) adopted an exemption decision which prevented Gazprom from being able to utilise more than 50 per cent of capacity in the OPAL pipeline (one of Nord Stream 1 onshore extensions). This led to a situation when OPAL capacity remained underutilised due to a lack of demand from third […]
Following the introduction of its Gas Market Law in 2001, gas demand in Turkey grew rapidly during the 2000s, tripling to almost 50bcm by 2014. Since then, however, growth has slowed dramatically (even declining in 2016) as the government has come to regard its import dependence (imported gas accounts for 98 per cent of total […]
2017 will be a momentous year for Russia’s LNG business, as the Yamal LNG project is due to come online by the end of the year. This will not only be the first Russian-operated LNG development, but will also mark a major shift in the Russian gas sector, as Novatek, rather than Gazprom, has been […]
This Energy Insight looks at how far the Ukrainian gas market, one of Europe’s largest, has moved away from a model based on large-scale Russian imports and post-Soviet economic relationships, towards a new set of arrangements underpinned by closer integration with the European market. The transition is taking place against a volatile political and economic […]
This paper, carried out as a joint piece of research by OIES and ERI RAS (the Energy Research Institute of the Russian Academy of Sciences) assesses the prospects for Russian oil production to 2020 and beyond, and suggests that the history of steady growth seen over the past decade is set to continue. Brownfield decline […]
OIES presentation on oil market outlook: Balance of risks indicates that an unexpected slowdown in global activity… https://t.co/5NnHV2GtbS
August 16th
Economic Diversification in the Context of Peak Oil and the Energy Transition https://t.co/mVi1REW4e2
August 15th
OIES study quoted on how Convention on Caspian Sea may boost regional energy cooperation: Several issues remain inc… https://t.co/5Cm4Ql285S
August 13th
