Page 20 - FSUOGM Week 47

FSUOGM NEWS IN BRIEF FSUOGM

RUSSIA fields 4A and 5A of the Achimov formations in the first 10 months to 23.2mn tonnes,
of the Urengoiskoye deposit at the end of according to the State Statistics Committee as
Russia's Gazprom to first quarter of next year," Mehren said. cited by Reuters.
The BTC exports oil from the Azeri,
Achim Development, a joint venture
discuss additional gas between Wintershall DEA and Gazprom, Chirag and Guneshli (ACG) oilfields
operated by BP.
works on the 4A and 5A Achimov blocks of
volumes to Chinese CNPC the Urengoiskoye gas condensate field. October totalled 29.3mn tonnes, around 80%
Azerbaijan’s oil exports for January-
Reserves of the blocks only within the
Russian natural gas giant Gazprom will license area of Gazprom Dobycha Urengoi of which was via the BTC.
discuss expanding the capacity of Power of exceed 1 trillion cubic meters of gas and 400 The volume of transit oil, originating
Siberia (Sila Sibiri) pipeline with Chinese million tonnes of condensate under the C1 in Kazakhstan, through BTC decreased to
CNPC, according to the report by Interfax. category. 3.3mn tonnes in the first 10 months from
As reported by bne IntelliNews, 3.8mn tonnes a year earlier.
Gazprom's exports to Europe and China Azerbaijan also exports oil via Russia
rose to 17.5bn cubic metres in October 2020, OPEC+ committee says through the Baku-Novorossiisk pipeline and
marking the company's highest ever non-CIS via Georgia by rail and through the Baku-
export volume for the month of October. Russia’s compliance at Supsa pipeline that runs to the Black Sea
Reportedly, Gazprom could expand the coast.
38 bcm per annum contracted until 2025 by 96% in October Azerbaijan’s oil exports through BTC fell
CNPC by an additional 6 bcm. 8% in 2019 to 31.135mn tonnes.
In addition, new contracts for deliveries Russia’s compliance with the OPEC+
via Gazprom’s Sakhalin-Khabarovsk- oil output reduction deal reached 96%
Vladivostok pipeline and a proposed Power in October, as seen by PRIME late on
of Siberia-2 line through Mongolia were Wednesday in a report prepared for a
also discussed by Gazprom’s CEO Alexei meeting of the alliance’s joint ministerial
Miller and chairman of CNPC’s board Dai monitoring committee.
Khoulyan. On Tuesday, the OPEC+ states said that
Finally, deliveries via the Power of Siberia their compliance with the deal fell to 101%
pipeline, which only started last December, in October from 102% in September, with
have been running above contracted the OPEC states complying by 105% and
levels since October, BCS Global Markets the non-OPEC states by 96%. The combined
commented on November 23. amount of unfulfilled obligations stands
"Expanding Chinese gas deliveries above at 2.346mn barrels per day between the
and beyond the initial Power of Siberia beginning of the deal to the end of October.
contract seems highly likely in the long
run, but so far these are only ‘discussions’," The OPEC+ countries agreed to reduce
BCS GM commented, seeing the news their oil output by significant 9.7mn bpd in
as modestly positive for Gazprom (Buy May to fight the consequences of the global
recommendation). coronavirus crisis, with Russia’s share of
The analysts see the possibilities for 2.5mn bpd. Later, the cut was prolonged
the other two gas routes as solid, if not at 9.7mn bpd for July, and narrowed to
guaranteed. However, with little visibility on 7.7mn bpd for August–December, and
the issue, the overtake versus the Power of then to 5.8mn bpd until May 2022. The
Siberia contract "seems of more immediate agreement is valid until April 30, 2022, but
importance", they note. the members will revise its extension in
The pipeline exports monopolist has December 2021.
recently maintained its dividend policy,
as the past months' sales have picked up.
The company also recently said it expects a
positive cash flow in 2021. CENTRAL ASIA & SOUTH

CAUCASUS
CEO: Wintershall DEA to Azerbaijan’s 10 month oil

launch Urengoiskoye field exports via Baku-Tbilisi-
in March 2021

Wintershall DEA expects to start Ceyhan pipeline fall 11.2%
development of fields 4A and 5A of the y/y
Achimov formations of the Urengoiskoye
deposit in Russia at the end of March 2021, Azerbaijan’s oil exports through the Baku-
CEO Mario Mehren said on November 23. Tbilisi-Ceyhan (BTC) pipeline that runs via
"We expect to start (the production) at Georgia to Turkey declined by 11.2% y/y

P20 www. NEWSBASE .com Week 47 25•November•2020