business

Russian energy giant Gazprom faces challenges as output slumps

3 Comments

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© 2015 AFP

©2019 GPlusMedia Inc.

3 Comments
Login to comment

Washington’s ban on technology transfers to Russia for certain energy projects, including Gazprom’s Yuzhnoye Kirinskoye field in the far eastern Okhotsk Sea, is stifling Moscow’s ambitions on the Asian market.

Russia and China will soon have this technology developed domestically.

Western companies like Haliburton used to make a fortune on these LNG parts and they had the market cornered. Now they cut themselves off from the massive Russian market and spurred their own competition by forcing Russia to develop the same technology in-house.

Now that Nord Stream is coming fully online, Gazprom has guaranteed dominance of the European energy market.

-1 ( +1 / -2 )

Russia and China will soon have this technology developed domestically

Translation - Russian and Chinese hackers will soon obtain this technology by stealing it from foreign computers.

2 ( +2 / -0 )

The saving grace for Gazprom is that gigantic US$400 billion deal with China to export natural gas to that country. China wants Russian natural gas so they could begin shutting down their highly-polluting coal-fired power plants, which means far cleaner air in Chinese cities (it's way cheaper to clean up emissions from a natural gas-fired power plant than a coal-fired power plant).

0 ( +0 / -0 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites