Yamal – Gazprom’s Strategic Base

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Kazakhstan Reconsiders the Oil Production Forecast

Kazakhstan has reconsidered the oil production forecast through 2015, lowering it following the problems with the largest extraction project—Kashagan.

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Companies to Design and Lay Nord Stream Pipeline

Nord Stream AG has chosen Snamprogetti (Italy) to perform the detailed engineering on the major gas pipeline between Russia and Europe. The Italian company won the assignment following an international tender. The contract includes developing a detailed pipeline execution and preparation plan, hydraulic and temperature analysis, analysis of pipeline length and stability, service platform and underwater cable crossing projects, as well as determining onshore pipeline connection locations.

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Accelerated Development Required

On October 8, 2007, a joint session took place of committees from the Russian Chamber of Commerce and the Russian Union of Industrialists and Entrepreneurs. The session considered prospects of accelerated development of oil and gas reserves on the Russian continental shelf. Representatives of the largest oil, gas and industrial companies in Russia and foreign investors took part.

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Creating Conditions for Investment in the Regions

In Ufa on October 11, Russian President Vladimir Putin chaired a session of the State Council on attracting economic development investments into the regions.  Putin noted that about R300 billion ($12.16 billion) has been added this year to the aggregate portfolio of the Development Bank, the Investment Fund and the Russian Venture Corp.

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MNR Wants Corrections in the Eastern Gas Program

On September 28, the Ministry of Natural Resources (MNR) sent a proposal to the Ministry of Industry and Energy (MIE) for a review modification in the approved program of gas
production in Eastern Siberia and the Far East. MIE press secretary Rinat Gizatulin confirmed that the amendments provide for an accelerated commissioning of the Chayadinskoye and Kovyktinskoye deposits, but do not provide for any specific terms.

Recently, a source within the Russian Ministry of Industry and Energy (MIE) confirmed that the government has approved plans to build a new export crude oil pipeline bypassing Belarus. The new line should parallel the current Baltic Pipeline System (BPS) and has the provisional working title of BPS-2. Initial estimates put the length of BPS-2 at 950 kilometers and the construction cost at about $2 billion. More importantly, it could carry a daily volume capacity of about 1 million barrels, enough virtually to eliminate the need for the current Druzhba export pipeline crossing Belarus.  

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