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How is Gazprom faring in sanctions-time Russia?


How is Gazprom faring in sanctions-time Russia?


Gazprom Neft, the oil arm of Russia’s state-run gas exporter Gazprom, has announced plans to start commercial production from its Bazhenov shale formations in 2018.

Russia’s efforts to replicate North Dakota’s shale boom have been hindered by the US ban on exporting equipment and technology after Moscow’s annexation of Crimea and the insurgency in Ukraine.

Gazprom Neft has said that shale development will be difficult without western help, but that it is still possible.

The firm estimates that it has more than 70 million metric tons of potentially recoverable reserves from Bazhenov

Gazprom also announced this week that China has started construction on the Power of Siberia pipeline to receive Russian gas.

Moscow and Beijing clinched a 450 billion euro gas deal last year and officially launched the pipeline.

The project aims to deliver 38 billion cubic metres of gas per year to China over 30 years, with the first deliveries scheduled for 2019.

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