Tuesday, 24 July 2012

Russia´s Gazprom tries to belittle the US shale gas revolution

Educational video for Gazprom executives

As we all know, the shale gas revolution has been - and will continue to be a gamechanger in US and global energy markets. As T. Boone Pickens, the Texas oil magnate, so rightly has stated, abundant gas reserves in the United States make the country the "Saudi Arabia of natural gas."

This is of course extremely difficult for Vladimir Putin and his energy outlet Gazprom to swallow. That´s why they are peddling cheap anti-shale propaganda, now apparently also with the assistance of a company that is desperately trying to advocate Russian gas exports to the US (a ridiculous undertaking in a country that has more than enough of gas of its own!):

Long-term prospects for the shale natural gas sector in the United States aren't very encouraging, Russian natural gas company Gazprom said.

Sergei Komlev, who represents Gazprom's exporting division, said optimism over U.S. natural gas may be overblown.
"We forecast that soon, the disparity between the shale gas costs and sales price will disappear," he told the Platts news service. "When it happens, it will make the U.S. plans to become a major gas exporter economically unviable."
Gazprom worked on its analysis of the U.S. natural gas sector with Pace Global Energy, whose mission, disclosure forms state, is to advocate for Russian gas exports to the United States.

Read the entire article here

Here is a free piece of advice to comrade Komlev and his bosses in Moscow: Watch the video above before you make your next statement concerning US shale gas. It is in English, but the message should be easy enough even for you to understand.

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