Gazprom granted final permit for TurkStream pipeline

Russian energy giant Gazprom has been granted the final permit for the construction of a second offshore section for the TurkStream gas pipeline. The permit guarantees both sections of the pipeline will be in operation before the end of 2019. Each part will have the capacity of 15.75 billion cubic meters of gas per year, […]

Japan to sign nuclear deal with Turkey

Japan has struck a deal estimated to be worth more than $20 billion (£12.86bn) to build a new nuclear power station in Turkey. Reports claim the Turkish Government will sign an agreement later today with the Japanese Government. The nuclear plant in the northern city of Sinop in the Black Sea is expected to produce […]

Arctic oil exploration one step closer

Russia’s Rosneft and Italy’s Eni have signed a deal to jointly explore for oil and gas in the Arctic. The two firms said in a statement that they would set up a joint venture to explore two oil fields in the Barents Sea and one oil deposit in the Black Sea. The companies claim the […]

ExxonMobil and Rosneft tie up

ExxonMobil has joined up with Russian oil company Rosneft to share their technologies and expertise in exploring and developing oil and natural gas in Russia. The ‘Strategic Co-operation Agreement’ signed yesterday includes the management of an exploration programme in the Kara Sea and Black Sea, which is estimated to cost more than $3.2 billion (£2bn) […]

South Stream pipeline gets 2012 start date

Gazprom wants to begin building the ‘South Stream’ pipeline in December, a year earlier than planned. The Russian energy firm has announced it is rapidly speeding up the project. Gazprom is touting the pipeline as a way of strengthening Europe’s energy security. It is designed to carry 63 million cubic meters of gas a year […]

ExxonMobil and Rosneft break the ice on Arctic deal

ExxonMobil has snapped up a deal to explore the Arctic with Russian firm Rosneft. The firms signed over a $3.2 billion exploration programme planned for the Kara Sea and the Black Sea. Russian Prime Minister Vladimir Putin was present as Rosneft’s President and ExxonMobil Development’s President signed the deal. Rosneft will hold 66.7% interest in […]