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Russian energy giant Gazprom faces challenges as output slumps


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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.

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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).

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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.

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