Word: gazprom
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...China and Russia have yet to come to terms on an agreement for Gazprom to sell natural gas from fields in western and eastern Siberia to the China National Petroleum Corp. (CNPC). In 2006 the two companies signed a memorandum of understanding to develop two pipelines, one that would link Sakhalin Island with northeast China and a second that would join the Siberian Kovykta gas field with China's northwestern Xinjiang region. Completion of that deal stalled on disagreements over several issues, including price. (See pictures of China's electronic-waste village...
...finance those unbuilt pipelines, which are likely to cost billions of dollars. (As a measure of how expensive these projects are, the BTC oil pipeline linking Azerbaijan's capital, Baku, through Tbilisi, Georgia, to Turkey's Caspian port of Ceyhan cost $4 billion to build in the early 2000s.) "Gazprom has been looking to get into the Chinese market for a considerable time, but the problem has always been over agreeing on the price," says Julian Lee, a senior energy analyst for the Center for Global Energy Studies in London. "There is no indication that they have done this this...
...That steady stream of suppliers has seemingly made Russia eager to make deals with its neighbor rather than to lose out to its competitors in the Persian Gulf and the Caspian. Says the Eurasia Group, a risk consultancy in Washington, in its research note on Thursday: "Gazprom increasingly has an incentive to lock in a share of the Chinese market, as it sees growing competition from Central Asian suppliers as well as LNG suppliers such as Australia, Qatar and even Papua New Guinea...
...Alexander Karpov, director of the EKOM Center, says there is no economic reason for Gazprom to mar the cityscape. It could easily house its offices, he says, in a building that follows the city's rules for architectural preservation. The land-use committee's vote last week, which city councilor Malkov calls a "farce," granted the Okhta Center a unique exemption to these rules, approving a design four times taller than is normally permitted. (See pictures of Russia celebrating Victory...
...comes down to is Gazprom's naked ambition. They just want to be the biggest, the tallest," Karpov says. "But what scares me most about this decision is the clear erosion of the rule of law it demonstrates. This is a precedent, a very loud one, showing that the legal norms are breaking down, that if you have the money and the access, you can do anything you want in this country...