China may be eager to pay more for the stake of ConocoPhillips in the Kashagan field than India, Richard Jones, deputy executive director of the International Energy Agency, told “Trend” at the energy conference in Atyrau.
According to him, both China and India need to secure stable supply of energy resources and so far China has been more successful than India. He also noted that Kashagan is very attractive for China due to the field's close proximity to the country.
In November 2012, ConocoPhillips signed an agreement to sell its 8.4% stake in Kashagan project to Indian ONGC. However, the Kazakh government has a pre-emptive right to buy the stake. Recently, some rumours emerged that Kazakhstan may be willing to buy the stake in order to re-sell it to China.
The Kazakh government would be also eager to obtain loans in exchange for the stake – a similar scheme was applied during the acquisition of Mangistaumunaigaz by CNPC. Still, the sale of the stake to China would spark criticism from the society which is afraid of Chinese domination over the region.
Ukraine is rapidly developing its biomethane sector with ambitions to become a major European supplier. Georgii Geletukha, head of the board at the Bioenergy Association of Ukraine, told bne ... more
Ukraine’s Naftogaz will purchase 100mn cubic metres of LNG from Poland’s Orlen, Ukraine’s biggest state-owned energy firm announced on March 7. The LNG will be transported from cargoes ... more
OPEC+ has decided to continue with its current oil production plans after a review meeting on February 2 despite calls from US President Donald Trump to lower crude prices. According to a ... more