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BP teams up with Rosneft to bring more Russian gas to Europe

June 2, 2017
tags: , ,

By Paul Homewood

  

Back to the day job!

While the EU is working itself up into a lather about the wicked Trump, BP and Rosneft are making sure that Russian gas keeps flowing to it:

 

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By Jillian Ambrose

BP has signed a deal with Rosneft to bring a new stream of Russian gas to European energy companies by the end of the decade.

Executives from BP and the Russia oil giant met in St Petersburg on Friday to sign a memorandum of understanding that could pave the way for new gas exploration and production projects in Russia.

Under the terms of the deal BP’s gas trading business will also enter into a long-term supply agreement with Rosneft to bring more Russian gas to the European market from 2019.

Earlier this year BP, which owns almost a fifth of Rosneft, said it could receive supplies of between 7 billion and 20 billion cubic metres of gas a year from Rosneft, but only if Russian President Vladimir Putin agrees to break the monopoly hold of state-backed gas giant Gazprom.

Currently Gazprom holds exclusive rights for pipeline gas exports for Russia.

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http://www.telegraph.co.uk/business/2017/06/02/bp-teams-rosneft-bring-russian-gas-europe/

 

It was only a few hours ago that young Jillian was warning us about rising sea levels, severe weather events, and food shortages, if we carried on burning nasty fossil fuels.

Perhaps the good Frau would like to take the lead by turning the valve off on Russian gas and relying on windmills instead!

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8 Comments
  1. Joe Public permalink
    June 2, 2017 4:59 pm

    Poor Jillian (or rather her Picture Editor)

    Shame for an article on gas, they chose an image of one of Rosneft’s oil facilities.

    One day they’ll learn that those orange/yellow flares, particularly with visible particulates, are oil not gas, flames.

    • June 2, 2017 5:22 pm

      Yes. I have a thing about these green images. Sadly CO2 is invisible so we get images of cooling towers with clouds of steam all busily cooling the planet and most people think it is CO2. creating catastrophy.
      Pictures can speak a thousand lies.

      • Stuart Brown permalink
        June 2, 2017 7:24 pm

        Agree with everything you said, but… I was really hoping another pedant would come by and save me – cooling towers warm the atmosphere, the point is to dump heat from the power station. And it’s water vapour, not steam, which is also invisible. But you probably knew that really.

      • June 2, 2017 9:25 pm

        Yes stuart. I did know that; but I also know that this visible water/vapour eventually winds up in the clouds and some gets up in the Cirrus clouds nudging the top of the Toposphere as ice. There is also some 600watts of energy in each kilogram of water. It makes CO2 look a bit pesky in comparison.
        Put simply: the earth sweats to keep cool, just like you and I.
        Rain forests are brilliant cooling towers!

  2. sixlittlerabbits permalink
    June 2, 2017 6:52 pm

    Thank you for this post. It confirms President Trump’s wisdom in removing the US from the Paris Accord, and the hypocrisy of the “climate change” cohorts.

    The information your blog supplies is so needed! Keep up your good work.

  3. HotScot permalink
    June 3, 2017 7:51 am

    Paul,

    Off topic and, albeit largely business focussed, there’s an interesting article in the FT which perhaps gives a little peek behind Trumps motivation and timing for withdrawing from the Paris Accord. It states that US business has been quietly retreating back to the USA for the last 5 years.

    This is consistent with my experience with MAS (Manufacturing Advisory Service) in the UK who were noticing a lot of British companies ‘onshoring’ because of the difficulties of dealing with China etc. were not worth the hassle.

    My opinion, for what it’s worth, is that whilst the rest of the Paris faithful now squabble amongst themselves on how best to woo America back into the club, the country will have stolen a march of at least 5 or 10 years to sort out its own economy before everyone else has left the starting blocks.

    Gradually, more countries will quietly slip the Paris leash, largely by deliberately missing their targets, and the entire miserable edifice will crumble.

    I also expect that when the IPCC are eventually forced to, once again, reduce their projections of temperature increase as observable temperatures fall below even their lowest estimates, they will be entirely discredited. And whilst I’m in no way qualified to judge when that will happen, as a layman, it looks like that is likely to happen well within the next 5 years.

    That should coincide nicely with Trumps run at a second term and our own GE at which point there will be ambitious politicians keen to make a name for themselves by targeting the £14Bn a year, I believe, we will be wasting on climate change.

    the FT article is here https://www.ft.com/content/2c90e60a-462d-11e7-8519-9f94ee97d996?segmentId=67d087c9-a25a-a9ee-db59-a271d5f46ebf

    • Gerry, England permalink
      June 3, 2017 9:18 am

      Cheap fracked gas has helped the US industry. Meanwhile in the test bed of energy lunacy that is South Australia, industry is calling a halt to investment and starting to move some operations away. Their demand to continue to invest is a huge cut in electricity costs.

  4. Gerry, England permalink
    June 3, 2017 9:15 am

    Nice to see it shown as to how vulnerable the EU is to Putin deciding to take his gas elsewhere if the EU tries to continue expanding its evil empire to the east. If they do a deal with China then the EU and particularly Germany could have a big problem.

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