Wednesday, June 29, 2022
Google search engine
HomeBusinessRussian Gas Giant and the EU

Russian Gas Giant and the EU

WE NEED FUNDS TO FIGHT MAINSTREAM MEDIA MISINFORMATION

We are 100% independently owned, free from corporate ownership and control. Help support a free press by donating to us.

Russia and China have signed a new gas pipeline deal, that will supply China with natural gas. They will receive up to 50 billion cubic metres per year. The pipeline is in Mongolia and now at base stage ready to build. It will then continue into China. It is named ‘Power of Siberia-2′. This will also allow Russia to redirect gas towards China, easing the reliance of selling gas to Europe.

 The European Union receives 40% of its gas imports from Russia via Ukraine and a quarter percent of its oil. On the 1st of March, the EU received 109.6 million cubic metres of gas from Russia.

With the Russia-Ukraine conflict, sanctions have been placed upon Russia by numerous western nations. This has affected Russia’s largest gas producer Gazprom and its oil company Rosneft.

Norway’s biggest energy company Equinor has retreated from trading with Russia losing assets worth $1.2b.

The Union of European Football Association (UEFA) has suspended its partnership with Gazprom effective immediately. Gazprom was the major sponsor of the UEFA Champions league, UEFA national team competitions, EURO 2024 and German football club FC Schalke. The sponsorship deal was worth 40million euro each season to the UEFA.

BP has also severed links with Rosneft. They had a stake of 25% in the company, and once it dumped its holdings, lost $25b immediately.

UK oil giant Shell is selling all its stakes in all joint ventures with Gazprom. A gas facility with 27.5% holdings, 50% in an oilfield project in Siberia and an energy venture. Their involvement in the Nord stream pipeline between Russia and Germany will also cease.

These losses will affect the world on a consumer and European business level. Petrol prices will rise in the U.S.

Malaysian oil and gas company Petronas will be taking a neutral stance as they have a non-operated stake in Gazprom. They will not be making any hasty decisions. They have an oilfield in Iraq, dealing with Rosneft with an estimated 3 million barrels in place. The CEO of Petronas, Taufik stated ‘we will be a responsible, reliable and committed energy producer to serve our customers and partners everywhere during this period, where prices will be volatile.’

Gazprom and Rosneft are Russia’s most profitable economic businesses.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
Google search engine

Most Popular

Recent Comments

Ivan M. Paton on Approval Of Remdesivir
Beth on Free and Fair?
Novus Ordo Seclorum on Victorian Change to Mandates
Novus Ordo Seclorum on Health care in crisis
Novus Ordo Seclorum on Health care in crisis
Burnthehousedown on Postal vote outrage
Shanthini Balasuriyar on Queensland CHO – a law unto himself
Billie Hutton on Convoy to Canberra Two
Lynn a freedom warrior on Convoy to Canberra Two
Elizabeth on Ruble on the rise
Yvonne Ford on Pfizer drug recall
Gene Trevor Wyngaard on NZ Scrap vaccine mandates
Frances Mahy on Russia Sanctions The U.S.A
Peter Coxhead on My Story, So Far
Theodora Zajaz on Novak Out Of U.S. Open.
Leonie Young on Probuild Buy-Out
Shelley Madden on Pfizer, Stranger than Fiction
Debra Mullins on AVN vs Brendan Murphy
Malcolm on The End Game
Sabina on What’s Next?
Drew Duncan on Belarus Under Threat
Robyn on What’s Next?
Sofia Rutteman on Here We Go Again, Part 2
Robert Burns on Ricardo Bosi Public Address
Kim Henry on Pfizer Whistleblower
Lee Y on Give Me Five
Linda Nemeth on Ricardo Bosi Public Address
Warwick Hibble on Ricardo Bosi Public Address
Lesley on The Data Is Ours
Patricia Poppeliers on Here We Go Again, Part 2
Dani Stevens on Trouble in Paradise
Colin Stevens on VICTORY FOR THE PEOPLE
Leanne Robyn on VICTORY FOR THE PEOPLE
Dianedraytonbuckland on Facebook: Judge, Jury and Executioner
Michael Chere on Before You Inject Your Child
Kerry Taylor on Which one of us is blind?
Kathy Hirsch on First Nations Locked Down
Gloria Feather on Undermining The Indigenous.
Marie Millikin on Let us talk about intuition.
Lucienne Helm on Let us talk about intuition.
Susan Wilson on The real revolution
Jennifer Leonard on 2020 a year to forget
F J on Strange Times
Tracey Parsons on IBAC DAY 9
stacie rose on Which one of us is blind?
Uncertainty on My Story, So Far
Tracey on A Veteran’s Plea
Zaidee Lens Van Rijn on My Story, So Far
Alissandra Moon on The Rise of Medical Apartheid
Peggy Gothe on Mum, I don’t feel well
Keith Cashman on Mum, I don’t feel well
Melinda c Taylor on Mum, I don’t feel well
Vaughan Oke on Which one of us is blind?
Jane Ramsay on Choice vs Ultimatum
Brian K Wilson on Which one of us is blind?
Scott Dawson on Which one of us is blind?
Sandra Dee on ST KILDA STREET PICNIC