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| February 4, 2012 at 8:09 am #7122 | |
 admin | Really reliable, these guys.. Gazprom says unable to meet greater Europe gas demand – report By Vladimir Soldatkin and Henning Gloystein MOSCOW/LONDON | Sat Feb 4, 2012 12:32pm GMT (Reuters) – Russian gas exporter Gazprom (GAZP.MM) has brought supplies to Europe back up to normal after reducing them “for a few days,” but it is unable to meet increased demand amid freezing weather, a company official told Russian Prime Minister Vladimir Putin on Saturday. European countries had reported that Gazprom, which responsible for around a quarter of European Union’s natural gas imports, reduced supplies to them due to a biting cold front, while they also requested more fuel for heating. Gazprom has been saying it had not breeched any contractual obligations. But on Saturday its chief financial officer, Andrey Kruglov, told Putin the company had cut gas supplies to Europe by up to 10 percent for a few days before returning them to normal levels, according to Interfax news agency. However, the company cannot supply more gas, he said. “We see that they are requesting more… But Gazprom at the moment cannot supply the extra volumes our West European partners are asking for,” Kruglov told Putin, according to Interfax. The shortfall in supplies was a reminder of the Russian gas supply halts to Europe at the height of winter in 2006 and 2009 due to a spat between Russia and Ukraine, which stands on the gas transit route to the EU, over pricing. Ukraine has been asking Russia again to lower its gas prices, threatening a similar standoff. Last year, Gazprom increased its gas supplies to Europe to 150 billion cubic metres (bcm) from around 138.6 bcm in 2010. It is aiming to ramp up those volumes to around 164 bcm this year thanks partly to the underwater Nord Stream pipeline commissioned last November. Gazprom’s pipeline gas, which has been sold for a record high price of over $400 per 1,000 cubic metres in Europe, has faced stiff competition from alternative, cheaper, fuel, such as liquefied natural gas (LNG) and gas on the spot market. European companies struggling with high energy prices have put increasing pressure on Gazprom to boost the spot market pricing element in its long-term contracts. A cold front blamed for more than 100 deaths is lashing the continent, bolstering demand for heating and forcing countries to tap stored gas supplies. The European Union’s executive said that squeezed supply of Russian gas to some EU countries fell further on Friday, but it added the situation had not reached emergency levels despite freezing temperatures gripping much of Europe. |
| February 6, 2012 at 10:32 pm #7210 | |
| admin | Can you trust the Russians? Not really.. Italy acts on Russia gas shortage amid Europe freeze Q&A: Why is it so cold across Europe? Italy has activated emergency measures to conserve gas supplies as freezing weather continues to grip the country and much of Europe. Italy has been receiving reduced gas imports from Russia – one of its main suppliers – at the same time as gas consumption has soared. Some power stations will switch to oil and some industrial customers will have gas supplies cut so homes stay warm. EU officials deny there is an emergency caused by a drop in gas from Russia. The Russian gas giant Gazprom – which supplies about a quarter of Europe’s natural gas – says it is facing greater domestic demand because of the extreme cold. Italian industry minister Corrado Passera described the situation as “critical” as government and industry officials held crisis talks in Rome. Further talks are planned for Tuesday. At least 24 people have died in the rare conditions which have seen temperatures of -10C recorded in Milan and heavy snow closing Rome’s Colosseum. The government reassured the public on Monday that they would not face cold homes. “Families can feel at ease,” said Claudio De Vincenti, undersecretary of economic development. However, Italian energy supplier Eni urged private consumers to cut back on energy use as much as possible. “This is a difficult moment,” said spokesman Gianni di Giovanni. Eni’s chief executive Paolo Scaroni said: “We are in an emergency and we have reacted to this emergency by increasing gas imports from Algeria and from northern Europe via Switzerland. “We won’t have problems until Wednesday,” he said on news channel Radio 24. Italy imports about 90% of its gas needs and gets about 30% from Russia. Meanwhile, Arctic conditions have continued to sweep Europe with authorities reporting more than 200 weather-related deaths. Many of the victims have been homeless people in Ukraine and Poland. Warsaw police officer Monika Golebiewska said new fatalities were being reported daily, said the AFP news agency. In southern Bulgaria, four elderly people drowned in their homes in the south-eastern village of Biser when a dam wall broke unleashing a 2.5m (8ft) wall of icy water. Switzerland reported -35.1C in the eastern Graubuenden canton and in the Czech Republic, the town of Kvilda recorded a winter low of -39.4C. Lithuania reported the deaths of 12 more people over the weekend as a result of freezing conditions. Forecasters says the icy conditions will last at least until the end of this week. |
| February 7, 2012 at 6:50 am #7218 | |
 jft310 | All the NG IOC can find can easily be sold.I am sure the Japanese and the Koreans realize they need to work together to keep IOC’s NG in the Far East.And thus we see them form a group to that end. Exxon needs more NG and I see them working with IOC also. This is what dreams are made of. |
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