On October 19, Turkey, Italy and Russia signed a memorandum of understanding on the Samsun-Ceyhan oil pipeline (SCP). Turkish Energy Minister Taner Yildiz, the Italian Economic Development Minister Claudio Scajola and the Russian Deputy Prime Minister Igor Sechin, inked the agreement that regulates the commitments of the three partners to the SCP. Despite the several signing ceremonies organized in the past for the SCP, the construction work did not commence. READ MORE
Inside the European pipeline fantasy that became a real-life gas war with Russia.
When Joschka Fischer's lucrative new job as the "political communications advisor" to a consortium of European energy companies was leaked to a German business publication this summer, there was one comment that stood out. "Welcome to the club," said Gerhard Schröder, an even more highly paid advocate for the other side in Europe's increasingly politicized energy war.
Schröder's remark was short, snide -- and very much to the point. For eight years, the two men had led Germany together, with Schröder ruling as its center-left chancellor and Fischer as his foreign minister. Their long-running partnership had survived a particularly complicated era in post-Cold War Europe, and publicly Fischer had always been supportive, even telling Der Spiegel that Schröder "will go down in the history books as a great chancellor." READ MORE
Russian Prime Minister Vladimir Putin wooed Turkey's AKP government with grandiose vistas of a bilateral partnership on energy during his visit to Ankara. Along with his proposal to build Gazprom's South Stream pipeline to Europe via Turkey's Black Sea economic zone, Putin also discussed reviving Gazprom's Blue Stream Two pipeline project in a new form. READ MORE
Russia has signed an agreement with Turkey to build the South Stream undersea gas pipeline in Turkish waters. The deal comes one month after Turkey signed transit accords for the rival European-backed Nabucco pipeline. READ MORE
Persistent long-term struggle of “Gazprom” against potential construction of Nabucco pipeline has failed. In Ankara the Heads of Turkish, Austrian, Hungarian, Bulgarian and Romanian Governments signed an intergovernmental agreement on the project of the gas pipeline that will deliver gas from Caspian region to Europe round Russia. Meanwhile Germany also engaged with this project didn’t put its sign under the agreement as it is not a transiting state. READ MORE
Expert’s opinion. READ MORE
Briefing the press on June 16 in Moscow, Gazprom deputy chairman Aleksandr Ananenkov lifted a curtain corner on the company's investment and output prospects in the short-to-medium term. Gazprom is set to substantially reduce capital expenditures in the next few years, starting with a 22 percent capex cut this year: from 640 billion rubles in 2008 to a target figure of 500 billion rubles in 2009. READ MORE