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Russia's slick oil pipeline will change world economy
OVER the next few days, on Russia's Far Eastern coast, something will happen that will profoundly impact global politics, diplomacy and the future shape of the world economy.
The new Kozmino sea terminal, close to Vladivostok and able to accommodate huge oil tankers, will swing into operation. The opening symbolizes the launch of a major new pipeline, connecting Russia's Eastern Siberian oil fields with fast-growing Asian markets, not least China.
Russia pumped more than 10m barrels of oil a day last month. With Saudi Arabia doing its bit to limit output from the OPEC exporters' cartel, Russia is now the leading crude producer on the planet. Factor in gas exports and the Bear is the world's biggest energy supplier by far and would remain so even if Saudi pumped oil as fast as it could.
Russia's existing energy export pipelines point West and are focused on supplying Europe. But that's about to change. Linking East Siberia's vast reserves with the Pacific Ocean, the first 2,700km branch of the new ESPO pipeline also opens this week. So from now on, Russia will be able to diversify crude exports away from traditional Western markets and focus on meeting Asia's near-insatiable energy needs, not least via tankers docking at Kozmino.
Most significantly of all, this first phase of ESPO means Russia can pump oil to within just a few kilometres of China's border. Moscow and Beijing recently signed a head-spinning $100bn (£63bn) crude supply deal, with Russia pledging to quench China's massive oil thirst for the next 20 years.
ESPO is what political strategists might call a "game-changer". It means Russia will be able to send its oil either east or west so can drive a harder bargain when selling crude to Europe. Alongside the ESPO oil pipeline, the Russians are constructing a gas pipeline too due to open in 2012. That will similarly alter the power balance of gas negotiations, at a time when Western Europe is becoming ever more reliant on Russian gas.
As regular readers will know, I have a long-standing interest in emerging markets Russia in particular. The asset-management company I work for specialises in the region. So feel free to think of me as biased. Dismiss everything I say. But I'm still amazed that what's happening in Russia's Far East not least ESPO and the Russia-China energy link-up isn't headline news in the West.
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http://www.telegraph.co.uk/finance/economics/6890708/We-are-at-risk-of-a-trade-war---and-the-West-has-most-to-lose.html
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We are the new Africa.
OVER the next few days, on Russia's Far Eastern coast, something will happen that will profoundly impact global politics, diplomacy and the future shape of the world economy.
The new Kozmino sea terminal, close to Vladivostok and able to accommodate huge oil tankers, will swing into operation. The opening symbolizes the launch of a major new pipeline, connecting Russia's Eastern Siberian oil fields with fast-growing Asian markets, not least China.
Russia pumped more than 10m barrels of oil a day last month. With Saudi Arabia doing its bit to limit output from the OPEC exporters' cartel, Russia is now the leading crude producer on the planet. Factor in gas exports and the Bear is the world's biggest energy supplier by far and would remain so even if Saudi pumped oil as fast as it could.
Russia's existing energy export pipelines point West and are focused on supplying Europe. But that's about to change. Linking East Siberia's vast reserves with the Pacific Ocean, the first 2,700km branch of the new ESPO pipeline also opens this week. So from now on, Russia will be able to diversify crude exports away from traditional Western markets and focus on meeting Asia's near-insatiable energy needs, not least via tankers docking at Kozmino.
Most significantly of all, this first phase of ESPO means Russia can pump oil to within just a few kilometres of China's border. Moscow and Beijing recently signed a head-spinning $100bn (£63bn) crude supply deal, with Russia pledging to quench China's massive oil thirst for the next 20 years.
ESPO is what political strategists might call a "game-changer". It means Russia will be able to send its oil either east or west so can drive a harder bargain when selling crude to Europe. Alongside the ESPO oil pipeline, the Russians are constructing a gas pipeline too due to open in 2012. That will similarly alter the power balance of gas negotiations, at a time when Western Europe is becoming ever more reliant on Russian gas.
As regular readers will know, I have a long-standing interest in emerging markets Russia in particular. The asset-management company I work for specialises in the region. So feel free to think of me as biased. Dismiss everything I say. But I'm still amazed that what's happening in Russia's Far East not least ESPO and the Russia-China energy link-up isn't headline news in the West.
------
http://www.telegraph.co.uk/finance/economics/6890708/We-are-at-risk-of-a-trade-war---and-the-West-has-most-to-lose.html
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We are the new Africa.
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Replies: 28
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At least we'll be able to hit our CO2 reduction targets now.
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im sure il get over it hey
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So when China buys oil from Russia it won,t be buying it from its other markets, guess who,ll buy that....
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Dimitrios 05 Jan 21:26
We are the new Africa. I doubt it. Africa has huge mineral worth.Only corruption holding them back.. We have Fcuk All...**ed it all up the wall. |
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That did come to mind.
We ALL know global warming DOES NOT exist and it is just a new invented tax scheme/ extortion racket. Now if it did exist surely they should be telling us all to produce as much CO2 as possible to warm the atmosphere and remove the need of relying on foreign nations supplying us with our heat. Surely hot winters will solve the problem. |
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there are people in britain who only have their wheelie bins emptied once a fortnight, oh the inhumanity of it all etc etc
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Wheelie?
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China consumes currently 8 million barrels a day at the moment, they believe at current rates and with more people coming out of poverty and with population growth as only 200 million out of the 1.4 billion population only really use the oil at the moment as a westerner would that they will require close to 100 million barrels a day. Russia say they can supply 10/20 million a day over the next 20 years, which leaves China alone with a shortfall of 70 million barrells per day.
We are DONE for. Should be a laugh. |
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We're all doomed!
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Bit of cold fusion from a traditional British egghead and bish bash bosh. CHeers Boris
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I've only just got over Cath's terrifying Swine Flu thread :(
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feckin drama queens- couple of snowflakes ,some polacks and bankers bolloxing up the economy and yer on here sheeiting yer kecks and crying like little girls,
wheres the dunkirk spirit british bulldog? feckin british poodle nowadays you shower of moaning whining subservient pussy whipped -oh i cant go out the cold affects my varicose veins feckin nancy boys. stop listening to boy george and go and listen to ac/dc its a long way to the top if you want to rock n roll , and grow a feckin spine. |
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Dunkirk was a catastrophe.
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Hey, wax and wane.
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Dunkirk was a catastrophe.
Dunkirk was a major success. What happened before Dunkirk was a catastrophe but Dunkirk and the Battle of Britain right after were the events that meant we couldn't lose. |
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FG IS A COMMIE !
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... but Dunkirk and the Battle of Britain right after were the events that meant we couldn't lose.
Well, there's historical revisionism and there's historical revisionism! I think our American cousins might have a view. As someone once said of Dunkirk, "We must be very careful not to assign to this deliverance the attributes of a victory. Wars are not won by evacuations." Quite. |
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I should imagine there were quite a few very personal evacuations as they were stood up to their wastes in water wishing the ships would really very much hurry up please!
Doesn't change the fact that it was a rather grand effort, though. Although that doesn't change the fact that this is a very well off county and will continue to be so, despite those that would** it off. |
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Wars aren't won by letting the Germans take half your army prisoner before most of them fire a shot. Dunkirk and the Battle of Britain saved us. The russkies and yanks weren't even in it then but the jerries couldn't invade because they had not enough air power and the navy would have cut their supply lines off. We couldn't lose, we just had to win and we had the biggest empire in the world to help us do it. That's why adolf went east, he knew we'd beaten him. He just wanted peace with us from then on.
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In WW1&2 our main problem, eventually, was running out of fit manpower. So Dunkirk was massive. Eventually we beat the krauts through intelligence, science, naval power and sheer stubornness and vindictiveness - plus a little help from the eternally-late USA and the moronically-led and duplicitious USSR. If we'd have lost the Dunkirk army, the streets of Bradford would be filled with blonde-haired Wodin-worshippers today.
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Don't let Lord Haw-Haw get you down chaps.
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Dont ever tell a Russian the British won the Second world war, Russia lost 24 Million people compared to Great Britains 500,000.
The invading German military caught the Russian army in a very bad position. The Russian losses in men and equipment were tremendous, they lost not just the entire vast territory between Poland and Moscow, but also almost the entire military force that was there. The advancing German army, aided by efficient tactical air support of the Luftwaffe which dominated the sky above, advanced all the way to Moscow, but there and then, in the extreme winter of late 1941, the German military ran out of both time and thrust. It was exhausted and stretched to the limit, and was already suffering badly from the winter, when it was massively counter-attacked near Moscow by fresh Russian reinforcements which were brought from the far other side of Russia, from Siberia and the far East. These fresh forces which were perfectly equipped for extreme winter conditions stopped the German advance and even pushed the Germans back. Moscow was saved, the Germans were stopped, and that marked the limit of what the German military could achieve in the eastern front. They had great victories in Russia, but Russia, with its endless resources and territory and its tough winter and people, was too much for them. When the winter passed the Germans advanced again, far and deep, but not in the direction of Moscow, and they could no longer defeat Russia. |
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I read Beevor's book on Stalingrad the other day, the account of Barbarossa and the effect of the notion of Rassenkampf are so terrible as to be almost beyond belief.
I have to say, with respect to some of the comments on this thread, more often than not these days I'm bemused and disappointed at people's understanding of the two world wars. |
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Crossword clue from a while back made me laugh, something like this:
Common sense, like the start of WWII. (4) |
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sidthekid 06 Jan 07:50
Dont ever tell a Russian the British won the Second world war, Russia lost 24 Million people compared to Great Britains 500,000 Yeah but the dirty commies did a no good deal with adolf to divide up Poland so hell mend em when it all went tits up. ribbentrop-molotov pact I believe it was called |
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Books, Pah, we've seen the movies. That's proper history. ;)
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Pos, nous? but I can't see how.
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No US. like start of WWII.
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