• 2 days Iraq Begins To Rebuild Largest Refinery
  • 2 days Canadian Producers Struggle To Find Transport Oil Cargo
  • 2 days Venezuela’s PDVSA Makes $539M Interest Payments On Bonds
  • 2 days China's CNPC Considers Taking Over South Pars Gas Field
  • 2 days BP To Invest $200 Million In Solar
  • 2 days Tesla Opens New Showroom In NYC
  • 2 days Petrobras CEO Hints At New Partner In Oil-Rich Campos Basin
  • 3 days Venezuela Sells Oil Refinery Stake To Cuba
  • 3 days Tesla Is “Headed For A Brick Wall”
  • 3 days Norwegian Pension Fund Set to Divest From Oil Sands and Coal Ventures
  • 3 days IEA: “2018 Might Not Be Quite So Happy For OPEC Producers”
  • 3 days Goldman Bullish On Oil Markets
  • 3 days OPEC Member Nigeria To Issue Africa’s First Sovereign Green Bond
  • 3 days Nigeria To Spend $1B Of Oil Money Fighting Boko Haram
  • 3 days Syria Aims To Begin Offshore Gas Exploration In 2019
  • 3 days Australian Watchdog Blocks BP Fuel Station Acquisition
  • 4 days Colombia Boosts Oil & Gas Investment
  • 4 days Environmentalists Rev Up Anti-Keystone XL Angst Amongst Landowners
  • 4 days Venezuelan Default Swap Bonds At 19.25 Cents On The Dollar
  • 4 days Aramco On The Hunt For IPO Global Coordinators
  • 4 days ADNOC Distribution Jumps 16% At Market Debut In UAE
  • 4 days India Feels the Pinch As Oil Prices Rise
  • 4 days Aramco Announces $40 Billion Investment Program
  • 5 days Top Insurer Axa To Exit Oil Sands
  • 5 days API Reports Huge Crude Draw
  • 5 days Venezuela “Can’t Even Write A Check For $21.5M Dollars.”
  • 5 days EIA Lowers 2018 Oil Demand Growth Estimates By 40,000 Bpd
  • 5 days Trump Set To Open Atlantic Coast To Oil, Gas Drilling
  • 5 days Norway’s Oil And Gas Investment To Drop For Fourth Consecutive Year
  • 5 days Saudis Plan To Hike Gasoline Prices By 80% In January
  • 5 days Exxon To Start Reporting On Climate Change Effect
  • 6 days US Geological Survey To Reevaluate Bakken Oil Reserves
  • 6 days Brazil Cuts Local Content Requirements to Attract Oil Investors
  • 6 days Forties Pipeline Could Remain Shuttered For Weeks
  • 6 days Desjardins Ends Energy Loan Moratorium
  • 6 days ADNOC Distribution IPO Valuation Could Be Lesson For Aramco
  • 6 days Russia May Turn To Cryptocurrencies For Oil Trade
  • 6 days Iraq-Iran Oil Swap Deal To Run For 1 Year
  • 9 days Venezuelan Crude Exports To U.S. Fall To 15-year Lows
  • 9 days Mexico Blames Brazil For Failing Auction

Breaking News:

Iraq Begins To Rebuild Largest Refinery

Russia Aims To Challenge Qatar LNG Dominance

Russia Aims To Challenge Qatar LNG Dominance

Russia has launched a $27-billion…

Why Is Canadian Oil So Cheap?

Why Is Canadian Oil So Cheap?

Reduced pipeline capacity and bottlenecks…

Ukraine, Poland Plan Gas Hub To Cut Russian Dominance

Pipelin

Poland and Ukraine plan to develop a regional gas hub on the Poland-Ukraine border that would supply the region with gas other than Russia’s, in a bid to end Central and Eastern Europe’s dependence on Russian gas and have prices aligned to European standards.

Polish and Ukrainian government officials expressed hope on Tuesday that the regional hub could be set up by 2022 on the border between the two countries, The Associated Press reports.

According to AP, the future gas hub would deliver gas to Central and Eastern Europe from Western Europe, LNG that had docked at Polish ports, and from a new pipeline planned to ship gas from the North Sea to Poland.

This new pipeline, Baltic Pipe, is a project for a potential new gas pipeline that would provide Denmark and Poland with a direct access to Norway’s gas fields. The project is in its early stages, with exact routing yet to be detailed and environmental impact assessments to be made. According to Denmark’s Energinet, one of the parties in the project together with Poland’s GAZ-SYSTEM SA, the final investment decision on Baltic Pipe is expected to be reached by 2018.

Russia’s gas giant Gazprom says that its share of Europe’s gas consumption grew to a record high of 34 percent in 2016. In Central and Eastern Europe, however, Gazprom’s dominance is much higher in some countries, and Moscow is often viewed as politicizing natural gas sales. Poland has been pushing against plans for Nord Stream 2, an expansion of an existing pipeline that runs from Russia to Germany via the Baltic Sea.

Related: 4 Wildly Different Oil Price Scenarios For 2020

NATO member Poland, which still imports two-thirds of its gas from Russia, has been seeking alternative sources of supply for national security reasons.

Polish Oil & Gas Company (PGNiG) has a strategic agreement with Qatargas for LNG supplies, and Poland will soon receive the first U.S. LNG cargo to a country from Central and Eastern Europe—Cheniere Energy is expected to deliver the cargo in the first half of June, under a deal with PGNiG,

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Naomi on June 06 2017 said:
    World LNG exports are planned to increase 33% over the next five years. Australia, Iran, and Qatar are not even in gear yet. The price is right at $5.50/BCM and there will be plenty of LNG available.

    LNG could replace crude oil. OPEC is scared enough to embargo Qatar. For sure the price of crude oil is coming down.

Leave a comment

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