Repsol YPF, Gazprom to jointly seek global projects

Peter Howard Wertheim
OGJ Correspondent

RIO DE JANEIRO, Oct. 6 -- Repsol YPF SA Chairman Antonio Brufau and OAO Gazprom Chairman Alexey B. Miller have signed a memorandum of understanding to study possible joint natural gas and oil development projects in Europe, Latin America, and Africa along with LNG projects using resources from Russia, the companies reported.

This MOU will allow the development of the Baltic LNG project and others in Russia.

The development of integrated gas projects and geographical diversification are some of the principal strategies of Repsol YPF, as seen by its regasification capacity in Canada for the US market.

Russia recently bestowed exclusive gas exportation rights to Gazprom, reputed to be the world's leading gas company in terms of reserves, production, and its development activities along the entire integrated gas chain.

Latin America
Russia President Vladimir Putin's visits to Latin America have resulted in the signing of strategic energy partnerships and in Russian corporate investment in the Latin American energy sector. Russia is mainly cooperating with state-controlled companies.

Last September Petroleos de Venezuela SA signed MOUs with 23 Russian companies, including Gazprom, for the provision of technology and petroleum industry products and services.

Russian newspaper Ria Novosti reported that Putin first received guarantees from Venezuelan President Hugo Chavez against possible nationalization of Russian energy company assets and capital in Venezuela.

In Brazil, state-owned Petroleo Brasileiro SA and Gazprom began negotiations in July with an eye to the Russian company's participation in construction of a 10,000-km gas pipeline from Venezuela, through Brazil, to Argentina.

In addition, Gazprom is considering investments of $2 billion in Bolivia's recently nationalized gas industry, say sources from Bolivia's state-owned company Yacimientos Fiscales Petroliferos Bolivianos. Gazprom is looking to build gas separation plants and pipelines to help export LNG as well as explore for gas in new and abandoned fields.

In Argentina, Gazprom and Transportadora de Gas del Sur, the former state-run gas transportation company Gas del Estado, have also expressed interest in joint ventures in the gas sector.

Last year, Gazprom produced 547.9 billion cu m of gas, exporting 249.09 billion cu m of it. Within 5 years, the Russians boosted annual output by 36 billion cu m, an amount comparable to annual consumption in Argentina. Gazprom partners are no doubt also interested in the experience of building and operating high-capacity gas pipelines, reports Ria Novosti.

Related Articles

House panel’s crude export ban hearing weighs urgency against caution

07/10/2015 A US House Energy and Commerce subcommittee hearing on legislation to repeal the ban on exporting US-produced crude oil quickly broke along party l...

Chevron Phillips Chemical makes executive appointments

07/10/2015

Chevron Phillips Chemical Co. LLC has made several executive appointments, all effective Aug. 1.

Twelve workers killed in Nigeria pipeline explosion

07/10/2015 Eni SPA reported that an explosion occurred July 9 at the repair site for the Tebidaba-Clough Creek oil pipeline in Nigeria’s onshore Niger Delta.

Transco seeks FERC approval for New York Bay Expansion project

07/09/2015 Transcontinental Gas Pipe Line Co. LLC (Transco), a wholly owned subsidiary of Williams Partners LP, has filed an application with the US Federal E...

House Oversight panel subpoenas Kerry for Keystone XL documents

07/09/2015 The US House Oversight and Government Reform Committee issued a subpoena to US Sec. of State John F. Kerry for reports, recommendations, letters, a...

Ending crude export ban would help rural US areas, House panel told

07/09/2015 Rural US communities generally have benefited from the nation’s crude oil production renaissance, and potentially could be helped more if restricti...

MOL completes Ithaca Norge acquisition

07/09/2015 MOL Group, Budapest, has completed its acquisition of Ithaca Petroleum Norge from Ithaca Energy Inc. for $60 million plus possible bonuses of up to...

AER orders Apache Canada to address integrity of pipeline system

07/08/2015 Alberta Energy Regulator has directed Apache Canada Ltd. to address the integrity of its pipeline management system because of “failure to follow p...

Stone confirms oil pay with Cardona development well in deepwater gulf

07/08/2015 Stone Energy Corp., Lafayette, La., encountered 288 ft of net pay in two intervals with its Cardona No. 6 development well on Mississippi Canyon Bl...
White Papers

2015 Global Engineering Information Management Solutions Competitive Strategy Innovation and Leadership Award

The Frost & Sullivan Best Practices Awards recognise companies in a variety of regional and global...
Sponsored by

Three Tips to Improve Safety in the Oil Field

Working oil fields will always be tough work with inherent risks. There’s no getting around that. Ther...
Sponsored by

Pipeline Integrity: Best Practices to Prevent, Detect, and Mitigate Commodity Releases

Commodity releases can have catastrophic consequences, so ensuring pipeline integrity is crucial for p...
Sponsored by

AVEVA’s Digital Asset Approach - Defining a new era of collaboration in capital projects and asset operations

There is constant, intensive change in the capital projects and asset life cycle management. New chall...
Sponsored by

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by

Asset Decommissioning in Oil & Gas: Transforming Business

Asset intensive organizations like Oil and Gas have their own industry specific challenges when it com...
Sponsored by

Squeezing the Green: How to Cut Petroleum Downstream Costs and Optimize Processing Efficiencies with Enterprise Project Portfolio Management Solutions

As the downstream petroleum industry grapples with change in every sector and at every level, includin...
Sponsored by

7 Steps to Improve Oil & Gas Asset Decommissioning

Global competition and volatile markets are creating a challenging business climate for project based ...
Sponsored by
Available Webcasts

On Demand

OGJ's Midyear Forecast 2015

Fri, Jul 10, 2015

This webcast is to be presented by OGJ Editor Bob Tippee and Senior Economic Editor Conglin Xu.  They will summarize the Midyear Forecast projections in key categories, note important changes from January’s forecasts, and examine reasons for the adjustments.

register:WEBCAST


Predictive Analytics in your digital oilfield - Optimize Production Yield and Reduce Operational Costs

Tue, Jul 7, 2015

Putting predictive analytics to work in your oilfield can help you anticipate failures, plan and schedule work in advance, eliminate emergency work and catastrophic failures, and at the same time you can optimize working capital and improve resource utilization.  When you apply analytic capabilities to critical production assets it is possible to reduce non-productive time and increase your yield.

Learn how IBM's analytics capabilities can be applied to critical production assets with the goal of reducing non-productive time, increasing yield and reducing operations costs.

register:WEBCAST


Cognitive Solutions for Upstream Oil and Gas

Fri, Jun 12, 2015

The oil & gas sector is under pressure on all sides. Reserves are limited and it’s becoming increasingly expensive to find and extract new resources. Margins are already being squeezed in an industry where one wrong decision can cost millions. Analyzing data used in energy exploration can save millions of dollars as we develop ways to predict where and how to extract the world’s massive energy reserves.

This session with IBM Subject Matter Experts will discuss how IBM Cognitive Solutions contribute to the oil and gas industry using predictive analytics and cognitive computing, as well as real time streaming for exploration and drilling.

register:WEBCAST


The Alternative Fuel Movement: Four Need-to-Know Excise Tax Complexities

Thu, Jun 4, 2015

Discussion on how to approach, and ultimately embrace, the alternative fuel market by pulling back the veil on excise tax complexities. Taxes may be an aggravating part of daily operations, but their accuracy is crucial in your path towards business success.

register:WEBCAST


Emerson Micro Motion Videos

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected