• 2 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 5 minutes Middle East on brink: Oil tankers attacked off Oman
  • 8 minutes CNN:America's oil boom will break more records this year. OPEC is stuck in retreat
  • 49 mins Iran downs US drone. No military response . . Just Completely Destroy their Economy. Can Senator Kerry be tried for aiding enemy ?
  • 3 mins Here We Go: New York Lawmakers Pass Aggressive Law To Fight Climate Change
  • 2 hours The Inconvenient Truth Of Electric Cars
  • 7 hours California and Oil
  • 9 hours Win Against Tyranny: Turkey's Opposition Strikes Blow To Erdogan With Istanbul Mayoral Win
  • 1 min Ireland To Ban New Petrol And Diesel Vehicles From 2030
  • 9 hours Green vs. Coal: Bavaria Seeks Fast-Track German Coal Exit in Snub to Merkel Plan
  • 1 hour NATO Article 5: Attack on one member is attack on all. Members all must come to defense . . . NOT facilitate financial transactions to circumvent and foil US Sanctions. Somebody please tell Angela.
  • 6 hours The Plastics Problem
  • 4 hours Hydrogen FTW... Some Day
  • 2 hours Oil Demand Needs to Halve: Equinor
  • 14 hours Fareed Zakaria: Canary in the Coal Mine (U.S. Dollar Hegemony)
  • 20 mins Wonders of Shale - Gas, bringing investments and jobs to the US
  • 1 min Is $60/Bbl WTI still considered a break even for Shale Oil
  • 19 mins Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
The LNG Shipping Market Is Set For A Bull Run

The LNG Shipping Market Is Set For A Bull Run

In contrast to the volatile…

Shale Pioneer: Fracking is an “Unmitigated Disaster”

Shale Pioneer: Fracking is an “Unmitigated Disaster”

Fracking has been an “unmitigated…

Gazprom Calls on Shell’s Aid in Russian Arctic Energy Battle with Rosneft

As the battle with Rosneft over offshore energy resources along the Russian Arctic shelf heats up, Gazprom has called on its trusted ally Royal Dutch Shell for support. The two companies have signed a deal that will grant the Anglo-Dutch company a 33.3% stake in Gazprom’s Arctic exploration projects.

Whilst President Vladimir Putin visited the Netherlands, Gazprom CEO Alexey Miller, and the Chairman of Royal Dutch Shell, Jorma Ollila, used the time to sign a memorandum, which will also see Gazprom receive a stake in Shell’s offshore projects, such as in the Orange Basin in South Africa.

Related article: Rosneft and ExxonMobil Consider $15 Billion Pacific LNG Plant

The plan is to jointly develop the North Vrangel section of the Chukotka Sea, and the north western section of the Pechora Sea. Gazprom expects the Federal Subsoil Resources Management Agency to issue both licenses by the end of this month.

Both companies have worked together before; they signed a global cooperation protocol in 2010, developed the Sakhalin-2 project in partnership, currently operate Russia’s only LNG plant together, and BP is still an official partner of Gazprom Neft.

Back in 2011 Peter Vosser, the COE of Shell, announced that the company would be concentrating on natural gas projects, with an aim to produce more gas than oil. A close partnership with Gazprom, the largest natural gas company in the world, obviously helps towards this goal.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News