Eastern Europe

Gazprom schemes delayed

Russia’s Gazprom has pushed back production targets for the Baltic LNG project and the third train expansion at its Sakhalin 2 development by between two to three years, with a company spokesperson saying the decision was based on the need to assess the market environment.

Lukoil’s output drops

Russian oil company Lukoil was hit by declining production during 2016, but saw some improvement in the last quarter of the year.

Tax break call for Baltic bid

A senior Shell official in Russia suggested this week that the proposed Baltic liquefied natural gas project that would be led by gas giant Gazprom will need tax concessions in order to become competitive, writes Vladimir Afanasiev.

Russneft campaign

Private Russian oil company Russneft is to pursue a long-discussed project to drill a set of 16 wells into the Bazhenov reservoir at its Middle Shapkinskoye field.

Appraisal at Khazri for Lukoil

Russian oil company Lukoil is planning to drill a fresh appraisal well on the Khazri structure in the Russian sector of the Caspian Sea, writes Vladimir Afanasiev.

Sakhalin 2 train delay

Russia’s Gazprom and Shell — its key partner in the Sakhalin 2 oil and gas development in the country’s far east — have pushed back the deadline for a final investment decision on the third train at the existing LNG plant in the south of the Sakhalin Island, to 2018.

Novatek targets N Russky

Russian independent gas producer Novatek has signalled that prospects on the North Russky block in the remote Yamal-Nenets region in West Siberia are its next development targets.

Gazprom positive on link

Russia’s Gazprom has expressed optimism about obtaining the necessary European approvals for construction of its Nord Stream 2 gas pipeline to Germany across the Baltic Sea, writes Vladimir Afanasiev.

Rosneft eyes Chechen exit

Russia’s Rosneft has asked for government approval to exit its oil producing business in the country’s Chechnya republic and transfer control to local authorities.