Alexey Miller's column
“Last year set before us the tasks of finding immediate responses to a whole range of challenges. Gazprom had to act taking into account the rapidly changing situation amid the global financial and economic crisis that peaked in the first half of last year. For Gazprom, the major external factor was a decline in our consumers’ demand and hence – a substantial reduction of the cash flow. Moreover, the global financial markets were actually closed in the first half of 2009.
Gazprom had to take drastic measures to maintain the stability of its activities and the ability to implement strategic projects.
Making every single challenge of the time an opportunity to develop the Company – that is how Gazprom’s task for last year may be formulated”.
“You know, at the recent Saint Petersburg Economic Forum the priority was given to large-scale energy projects, primarily, Nord Stream and South Stream. We have signed the documents on the Gaz de France Suez joining the Nord Stream project as a new shareholder. The list of the project participants has finally been defined. We are pleased to mention that French business has been taking a proactive role in the implementation of major transmission projects. Following the crucial accords that were reached during the Saint Petersburg Economic Forum in relation to the South Stream project, another French company, Électricité de France, signed the trilateral documents with Gazprom and Italian Eni to enter the South Stream project.”
From one side – South Stream is the result of cooperation between Russia and Europe in the recent decades, from the other – this is a new level of cooperation. The project implementation is an ambitious goal for both strategic partners.
Recently, there were many myths and theories about the gas market, which, as in the TV program “MythBusters”, we do need to examine.
Perhaps the most discussed topic both among the professionals and in the business-focused media has become the phenomenon of shale gas. Is it possible to talk about “shale revolution”, which will shake the foundations of the gas industry? Or is it a fashion trend, sort f a “shale fever” that one has to pull through?