Friday, April 3, 2015

Media: In the case of Western sanctions RUSSIA could laugh last

People's Militia of Donbass

Media: In the case of Western sanctions RUSSIA could laugh last 

Russia's position in the global energy market allow it to be independent of the sanctions of the West, while European players can not boast of financial solvency, says an international energy expert Scott Belinsky article online publication OilPrice. 

A striking example of this is the situation with the project "Yamal LNG", in which the Russian company "Novatek" has undergone sanctions collaborates with France's Total and China's CNPC. In late March, China has agreed to provide $ 15 billion Total investment in the "Yamal LNG". 

French energy giant because of Western sanctions can no longer do business with Russia, as before, with the former head of Christophe de Margerie, and is forced to resort to external assistance, the expert said. 

Despite the fact that the EU and Russia over the years depended on each other in the energy, Western sanctions have pushed the Russian Federation in cooperation with Asian countries. Russia has signed an agreement with China, the negotiation of which were more than 20 years, has entered into bilateral agreements with India on military and energy cooperation. 

Moreover, Moscow has offered to participate in the development of Delhi Arctic projects to obtain liquefied natural gas. At the same time, Washington has forced the US company ExxonMobil to abandon the joint with "Rosneft" project worth 700 million dollars than ExxonMobil has deprived the opportunity to participate in a highly profitable development of energy resources in the Arctic cooperation with Russia reminds Scott Belinsky. 

Pushing Russia towards Asian partners indicates a worrying trend for potential investments of foreign companies, which due to the sanctions regime hands are tied, "- says the expert. Despite the fact that the project "Yamal LNG" was cut off from Western funding and technology analysts are optimistic about the course of its implementation . 

Eastern investors are extremely happy to take place on the western Russian market, while the West, particularly America, the risk of economic interests for the sake of political goals. The project "Yamal LNG" provides for the construction of the plant capacity of 16.5 million tons of liquefied natural gas per year to resource based South Tambeyskoye field.Total project cost - 26.9 billion dollars. 

The first phase of the plant is expected to be launched in 2017. It is planned to build three turns. The project is implemented in cooperation with Novatek France's Total and China's CNPC. Foreign companies to 20% in the project.
Source:
Putin May Have Last Laugh Over Western Sanctions
oilprice.com
Showing indifference to ongoing Western sanctions, Vladimir Putin has diversified the investor base in Russian energy, which could spell disaster for the West

Darina Titova

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