Energy Report

Thursday, June 29, 2006

HIBERNIARESERVES ESTIMATE UP68%






HIBERNIARESERVES ESTIMATE UP68%

National Post
29 Jun 2006

Exxon Mobil Corp., the world’s biggest public oil company, and its partners boosted estimated reserves by as much as 68% at Hibernia, Canada’s most productive offshore oilfield. The increase wasa result of information from recently drilled wells,... read more...

New pipeline to reduce Europe’s reliance on Russia (Globe and Mail, 27 Jun 2006, Page B11)






New pipeline to reduce Europe’s reliance on Russia

Globe and Mail
27 Jun 2006

The European Union and the energy ministers of Austria, Hungary, Romania, Bulgaria and Turkey agreed yesterday to go ahead with the construction of a pipeline that will enable Europe to reduce its dependence on Russian gas. In a joint declaration in... read more...

Tuesday, June 27, 2006

Europeans court Gazprom as demand trumps rhetoric (Globe and Mail, 23 Jun 2006, Page B9)






Europeans court Gazprom as demand trumps rhetoric
BY GREGORY L. WHITE, MOSCOW
Globe and Mail
23 Jun 2006


Russia’s OAO Gazpromhas lined up a series of agreements in recent weeks to expand its reach into European markets, a sign that the Continent’s hunger for natural gas appears to be overriding concerns about growing dependence on Russian supply.


“ These transactions are the best answer to the speculation about security of supply,” Gazprom deputy chief executive officer Alexander Medvedev said in an interview this week after signing a 20-year contract with Denmark’s state-owned DONG Energy A/S that will bring Russian gas to the Danish market for the first time starting in 2011.


“For us, Gazprom is a very reliable company,” said Kurt Pedersen, executive vice-president at DONG. “This really strengthens our supply.”


Under the deal, DONG also agreed to sell Gazprom some of the gas it now exports to the United Kingdom, helping Gazprom meet its target of expanding its... read more...