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UPDATE 1-Russian lower house backs LNG export law at first reading

Fri, 15th Nov 2013 13:38

MOSCOW, Nov 15 (Reuters) - Russia's lower house ofparliament took a first step on Friday towards allowing rivalsof state-controlled Gazprom to export liquefiednatural gas (LNG), as the world's top energy producing nationstakes a claim to growing Asian markets.

The bill would open the door for Russia's top independentgas firm Novatek and state oil major Rosneft to break Gazprom's monopoly on exports - but only for thesupercooled gas that is shipped by tanker.

The measure passed by an overwhelming majority at the firstreading and is expected to clear parliament quickly. Dependingon when President Vladimir Putin signs it, the measure may takeeffect from January.

Prime Minister Dmitry Medvedev, a former Gazprom chairman,told the government last month that the export reform would give"a new chance for the whole energy industry and allow us to gaina footing" in fast-growing Asian markets.

Gazprom, descended from the Soviet gas ministry, has had itsexport monopoly enshrined in law since 2006. It sells gas mainlyby pipeline to Europe and, despite years of talks, has failed toclinch an export deal to China.

It has also been slow to adopt new technology, only enteringthe LNG business in the past decade by buying into the Shell-led Sakhalin-2 project, on the Pacific Island of Sakhalinclose to Japan.

Thanks to Sakhalin-2, Russia has a share of around 4.5percent of the global LNG market, which is dominated by Qatar.Russia aims to double its share by 2020 to produce 35-40 milliontonnes a year by then.

"This law is essential for as many players as possible toenter the market in addition to Gazprom," said Alexei Kokin, anenergy analyst at Moscow brokerage Uralsib. "It would have beenbetter if it had been passed a year or two ago."

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10 Dec 2021 12:17

LONDON MARKET MIDDAY: Stocks lower ahead of key US inflation report

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10 Dec 2021 10:41

Shell shareholders vote for move to Britain -preliminary results

AMSTERDAM, Dec 10 (Reuters) - In a preliminary result, Royal Dutch Shell shareholders on Friday voted in favour of a plan to move the company's headquarters and its tax home to Britain.Chairman Andrew Mackenzie announced the preliminary results, ...

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10 Dec 2021 10:17

Siccar Point CEO says Cambo oilfield project paused after Shell exit

LONDON, Dec 10 (Reuters) - Siccar Point CEO Jonathan Roger said on Friday that Royal Dutch Shell's decision last week not to progress the Cambo oilfield project in the British North Sea means the development will have to be paused.Siccar, which ow...

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10 Dec 2021 10:08

UPDATE 1-Royal Dutch Shell shareholders expected to approve move to London

* If approved, Shell's move expected in early 2022* British tax base seen making buybacks, dividends easier* Dutch withholding tax a factor in Shell's decision* Shell says move will not affect its environmental policy (Updates with colour from meeti...

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10 Dec 2021 00:25

UPDATE 2-Royal Dutch Shell shareholders back plan to shift to London

* British tax base seen making buybacks, dividends easier* Dutch withholding tax a factor in Shell's decision* Shell says move will not affect its environmental policy (Recasts with shareholder vote)By Toby Sterling and Ron BoussoROTTERDAM/LONDON, D...

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9 Dec 2021 13:37

S.Africa energy minister defends Shell's planned seismic blasting on Wild Coast

* S.Africans protest against oil search in pristine stretch* Area home to whales, penguins, dolphins, seals* Objectors want Africa to stay poor, Gwede Mantashe saysBy Tim CocksJOHANNESBURG, Dec 9 (Reuters) - South Africa's energy minister defended o...

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9 Dec 2021 10:10

UPDATE 2-European shares fall again on Omicron worries

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Deutsche Bank skids after DoJ violation report* Defensive sectors cap losses* Investors eye U.S. CPI data due Friday (Updates to close)By ...

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6 Dec 2021 16:58

LONDON MARKET CLOSE: Airlines lift off as Omicron fears ease

LONDON MARKET CLOSE: Airlines lift off as Omicron fears ease

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6 Dec 2021 12:16

LONDON MARKET MIDDAY: Stocks rise as Fauci helps soothe Omicron fear

LONDON MARKET MIDDAY: Stocks rise as Fauci helps soothe Omicron fear

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6 Dec 2021 12:13

UPDATE 4-BP says Brent benchmark reform should include U.S. oil, dump Brent

(Adds background)By Julia PayneLONDON, Dec 6 (Reuters) - BP supports the addition of U.S. oil crude grade WTI Midland to global dated Brent, suggesting the removal in the medium-term of Brent and Forties grades from the benchmark as flows have eva...

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5 Dec 2021 13:57

S.Africans protest against Shell oil exploration in pristine coastal area

By Siyabonga SishiPORT EDWARD, South Africa, Dec 5 (Reuters) - South Africans took to their beaches on Sunday to protest against plans by Royal Dutch Shell to do seimsic oil exploration they say will threaten marine wildlife such as whales, dolphi...

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3 Dec 2021 16:05

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

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3 Dec 2021 14:31

Nigeria's Bonga oil export terminal in maintenance until next week - Shell

LONDON, Dec 3 (Reuters) - Nigeria's Bonga crude oil export terminal is undergoing planned maintenance until next week, operator Shell said on Friday.Bonga is typically one of the larger export streams from Africa's largest oil producer. It was sch...

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3 Dec 2021 12:06

LONDON MARKET MIDDAY: Jitters turn from Omicron to US nonfarm payrolls

LONDON MARKET MIDDAY: Jitters turn from Omicron to US nonfarm payrolls

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3 Dec 2021 10:19

Shell wins court case to start seismic surveys offshore South Africa

CAPE TOWN, Dec 3 (Reuters) - A South African high court on Friday struck down an urgent application brought by environmentalists to stop oil major Royal Dutch Shell starting seismic surveys to explore for petroleum systems off the eastern seaboar...

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