Tuesday September 26, 2006

Russia hits back at US in plan to redirect gas to Europe

channelnewsasia.com :

A Russian plan to re-route a significant amount of natural gas from a huge new field originally intended for the US market to Europe is a political move linked to deteriorating US-Russian relations, analysts said. Experts linked the apparent change of thinking to recent bilateral spats such as US sanctions on Russian state arms exporter Rosoboronexport and aircraft maker Sukhoi and troubled bilateral talks on Russia's entry into the World Trade Organisation (WTO).

If the decision were confirmed, it would be a dramatic shift in plans for the Shtokman gas field, one of the most coveted energy sources in the world with estimated reserves of around 3.2 trillion cubic meters of gas. Gazprom is in the process of picking partners to develop the field, which is expected to begin exporting in 2010.

See also :

1. Russia sets the pace in energy race
2. Russia tightens grip on energy
3. The Kremlin and the world energy war

(2006-09-26 18:18:23 SGT) [Energy] Permalink

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