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OIL AND GAS
Kiev says fair price for gas necessary
by Daniel J. Graeber
Kiev, Ukraine (UPI) Oct 7, 2014


disclaimer: image is for illustration purposes only

Ukraine is ready to find a mutually acceptable solution to ensure the reliable transit of Russian natural gas, the country's prime minister said.

Ukrainian Prime Minister Arseniy Yatsenyuk met in Kiev with visiting Victoria Nuland, a U.S. State Department official in charge of regional affairs. Yatsenyuk's office said "special attention" was paid to challenges of European energy security.

"The Ukrainian side is ready to a mutually acceptable solution on the basis of market pricing for gas and its transit," he said.

Ukraine under the terms of a proposal brokered with European and Russian officials agrees to settle its $3.1 billion in gas debt to Russian energy company Gazprom in exchange for assurances of reliable transit and a discount on gas prices.

The Kremlin was expected to announce a date for the next round of talks this week. Kiev had balked at earlier proposed deals from Russian, saying they were politically motivated.

Russia meets about a quarter of Europe's gas demand, though most of that volume runs through a Soviet-era pipeline network in Ukraine.

European leaders are looking to break Russia's grip on the regional energy sector. Gazprom, meanwhile, has focused its efforts on growing Asian economies.

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Chevron brings Kuwaiti partners to Canadian shale
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A portion of Canadian shale natural gas acreage was sold to a Kuwaiti energy company for $1.3 billion, the Canadian subsidiary of Chevron said Monday. "This sale demonstrates our focus on strategically managing our portfolio to maximize the value of our global upstream businesses and is consistent with our partnership strategy," Jay Johnson, a senior vice president for upstream operatio ... read more


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