These are the 7 oil and gas projects to watch in 2015:
1. Another new Russia – China pipeline
In the wake of the $400bn deal, Russia signed a contract with China this May to sell its gas through the under-construction Power of Siberian pipeline. The ascendance between the two countries did not make much noise in the news, thus hardly making any headlines.
The supply of Gazprom will be 30 bcm of gas a year to the Chinese state oil company CNPC in this contract, involving major pipeline work in Russia. A 2,600km pipeline network called Altai, denominated after one of the regions of western Siberia, that runs through China’s northwestern side that borders with Russia, peregrinating along, supplying China with the through this incipient.
2. TAPI – getting Turkmen gas to India
TAPI is another project that is underway to satisfy Asia’s hunger for Gas – it’s a $10bn, 1,700 km pipeline that will make passage for the Turkmen Gas from Afghanistan, Pakistan, and finally towards the massive net importer that is India.
3. A new pipeline for Ugandan oil
In East Africa new oil and gas projects have been discovered this year, but the infrastructure development is going in a slow pace. Martin Heya the Kenian
Commissioner of Petroleum at Kenya’s Ministry of Energy and Petroleum says that there has been a ‘significant mismatch’ between the discovery of the new source of gas and implementation of the infrastructure.
4. New LNG terminals on the Baltic Sea
The dispute between the unpaid gas bills has between Russia and Ukraine has finally been solved with an agreement between the two. Following it the pipeline between the two countries is flowing again, but Europe is intervening knowing that it is important to diversify the supply of these pipelines. Ukraine in particular has a long-term goal to improve the efficiency of the energy to reduce imports as a whole. But for the immediate need the shipment of liquefied natural gas (LNG) can provide as a quick solution.
5. Shale gas exploration in Western Ukraine and Poland – a way out of Russian dependence?
The woes of Ukraine’s gas issue have been well documented. Poland’s Lublin shale basin near Ukraine could help in meeting some of its demands through the resources found there. For shale gas exploration in the next year Italy’s Eni signed service deals regarding the same at its holding at Lviv and Volyn areas of Western Ukraine. In 2012 the operating rights were bought following the political circumstance that that delayed the drilling of the blocks.
6. Progress on South Stream at last?
Reduction of imports from Russia to Europe is connected to the energy developments that have happened in 2014. But the demand of Gas by EU has only been going one way, progress could only be seen when $40bn Soth Stream pipeline would bring the Russian gas to Austria via Bulgaria, Serbia, Hungary, and Slovenia in 2015.
7. More exploration blocks on offer in Myanmar
Myanmar exported its first natural resource barrel in 1853, making it one of the oldest producers of oil and gas. The potential for further extraction and exploration of oil and gas is still at large and it’s estimated to be on par with Brazil.