• 4 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 7 minutes Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 13 minutes NordStream2
  • 2 days Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 4 hours California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 16 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 22 hours "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 1 day GREEN NEW DEAL = BLIZZARD OF LIES
  • 22 hours An Indian Opinion on What is Going on in China
  • 1 day Can Technology Keep Coal Plants Alive and Well?
  • 2 days Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 2 days Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 4 days Perfect Energy Storm in Europe: turning our back on fossil fuels is easier said than done!
  • 20 hours U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 1 day Storage of gas cylinders
  • 4 days Nord Stream - US/German consultations
Putin: $100 Oil Is “Quite Possible”

Putin: $100 Oil Is “Quite Possible”

Asked by CNBC’s Hadley Gamble…

The New ‘Energy Islands’ Of The North Sea

The New ‘Energy Islands’ Of The North Sea

Artificial energy islands are gaining…

U.S. And Moscow Ramp Up Pressure On Greece Over Gas Pipelines

 Russian Foreign Minister Sergei Lavrov says Europe’s only realistic choice for importing gas is through Moscow’s planned Turkish Stream pipeline, not a rival conduit, also through Turkey, that’s being promoted by the West.

Lavrov pushed back against U.S. pressure on Greece to choose the American-preferred route, the Trans-Anatolian Pipeline (TANAP). The Russian official spoke after a meeting in Belgrade with Serbian Foreign Minister Ivica Dacic.

“I believe that if the European Union bases its approach [to Turkish Stream] on a critical evaluation of the situation,” Lavrov said, “taking into consideration its own interest in ensuring European energy security, Brussels will support these talks [on Turkish Stream] and contribute to the realization of these ideas.”

Related: America’s Shadowy Energy Partnership With Azerbaijan

Already, Lavrov said, the initial work may be all but complete because Greece, Hungary, Macedonia, Serbia and other countries in Southeastern Europe have expressed interest in Turkish Stream. The pipeline would run from Russia through Turkey, then through Greece and elsewhere in Southern Europe.

“I believe what matters the most now is to consider practical aspects from the point of view of logistics and from the point of view of funding,” the Russian official said.

Related: Are US Drillers Actually Making A Comeback?

If built, the Turkish Stream pipeline would begin shipping some 63 billion cubic meters of gas annually by December 2016, which Lavrov said would bring “energy security” to Europe. TANAP would bring gas from Azerbaijan – and perhaps even from Turkmenistan on the other side of the Caspian Sea – through Turkey and into Europe.

Lavrov’s comments come after a trip by Amos Hochstein, the US State Department’s special envoy on energy affairs, who was sent to Athens to discuss the options with several Greek officials. Moscow is attempting to sway Greece in favor of its Turkish Stream project.

On May 8 Hochstein reported that both sides “agreed on more than we disagreed,” especially given that work on TANAP already has begun and Turkish Stream remains only a concept in search of a route.

Related: M&A The Only Survival Strategy For The Oil Sector Now

“Turkish Stream doesn’t exist,” he said. “There is no consortium to build it, there is no agreement to build it. … [I]n the meantime, [we should] focus on what’s important – the pipeline we already agreed to, that Greece already agreed to.”

Turkish Stream would replace the South Stream pipeline project to Europe, which was ended in late 2014 because of a European Union rule that forbids one entity to own both the pipeline and the gas it carries.

That project as well as Turkish Stream and TANAP are potential alternatives to Russia’s current method of shipping fuel from its state-run Gazprom to European customers. The EU now receives about 30 percent of its gas from Russia, and about half of it flows through Ukraine. But because of political and pricing disputes between Kiev and Moscow, the EU has been looking for other sources of fuel.

By Andy Tully of Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • andrew nichols on May 19 2015 said:
    But because of political and pricing disputes between Kiev and Moscow

    That's a polite way of describing an unwillingness to pay for supplied gas and outright theft!

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News