Connecting to LinkedIn...

W1siziisijiwmtuvmdqvmtuvmdgvntqvmzgvnzi1l01ptlrbu0hfqkxpr19vtljftkrfukvex0lnqudfx3jlc2l6zwrfyw5kx3jlbmrlcmvklmpwzyjdlfsiccisinrodw1iiiwimtkymhgxmjuwiyjdxq

Blog

Russia and the Chinese LNG Market

27/05/2014 by

W1siziisijiwmtqvmtavmjgvmtuvndavntgvndc4l2zpbguixsxbinailcj0ahvtyiisijywmhg0mdbcdtawm2uixv0

While the landmark $400 billion Gazprom deal stole the headlines during Russian President Vladmir Putin’s recent visit to China, another smaller deal, this one involving Russia’s second-largest natural gas producer Novatek, also warrants attention. China has contracted Novatek to supply 3 million tons of liquefied natural gas (LNG) annually.

Given Chinese enthusiasm for replacing coal with gas and Russia’s ambition to acquire a 15 percent share of world liquefied natural gas (LNG) exports, the two countries potentially have significant shared interests. While many of the elements of a far-reaching partnership are taking place, long-term success will depend heavily on the ability of Beijing and Moscow to agree on prices.

According to a BP estimate, China consumed 143.8 billion cubic meters (bcm) of gas in 2012 (125 million tons of oil equivalent) up 9.9 percent from the previous year. Of this, 21.3 bcm was sourced by pipeline from Turkmenistan and 20 bcm was imported as LNG (with more than half of that coming from Qatar and Australia). The remainder was domestically extracted.

At present, natural gas constitutes a modest 4.4 percent share of China’s energy consumption, but Beijing plans to raise that to 7.5 percent in 2015 and then to 10.0 percent by 2020. This would mean that next year China would be consuming 260 bcm of gas annually, with 90 bcm imported and the remaining 170 bcm planned to extracted domestically.

China will be placing a particular focus on imports of LNG, which is sees as a key element of its national gas-for-coal strategy and a prime source for city consumption. LNG will give China another plank in its energy security, given that its transportation does not involve pipelines and troublesome transit disputes.

This article has been extracted from http://thediplomat.com, please click on this link to read the article in full http://thediplomat.com/2014/05/russia-and-the-chinese-lng-market/

Montash is a multi-award winning, global IT recruitment firm. Specialising in permanent and contract positions across mid-senior appointments which cover a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Scientific Technologies, Demand IT and Business Engagement, Digital and E-commerce, Infrastructure and Service Delivery, Project and Programme Delivery.

With offices based in London, Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

comments powered by Disqus

Social Stream

Latest News

W1siziisijiwmtcvmdivmtuvmtyvntivmjuvnzkwl2n5ymvyigf0dgfja3muanbnil0swyjwiiwidgh1bwiilcizodb4mtawiyjdxq

UK threatened by serious cyber attacks every ...

2017-02-15 16:00:00 +0000

The security of the UK has been threatened by 188 serious cyber attacks in the last three months, a government security chief has said. National Cyber Security Centre (NCSC) Chief Executive Ciaran Martin told The Sunday Times that national security was put at risk by many of these attacks. Martin was speaking ahead of the official opening of the NCSC, which has been set up to protect critical services in the UK from such attacks and improve underlying i...

W1siziisijiwmtcvmdivmdgvmtavmzcvmzkvnjkyl0n5ymvyifnly3vyaxr5lmpwzyjdlfsiccisinrodw1iiiwimzgwedewmcmixv0

British cyber security workforce rises 163%

2017-02-08 10:00:00 +0000

Data from the UK has shown that the cyber security workforce has grown considerably over the past five years. According to a new report from cyber skills promotion network Tech Partnership, there are now 58,000 more workers in this industry – a rise of 163 per cent. It shows the growing importance of these professionals, with firms across a vast range of industries turning to cyber security specialists to safeguard their data. To collate the report, the...