Alexey Miller's column
“We are very skeptic about shale gas. We don’t face any risks. Firstly, the United States still suffers gas deficiency. Secondly, we aren’t currently aware of any project showing profitability of shale gas wells. Absolutely all wells are unprofitable. It is sometimes treated as a ‘soap bubble’ to burst soon. We have the same technologies as well. Gazprom, for instance, produces gas from the Kuzbass coal beds. The USA is evidently the biggest gas market because it consumes more gas than any other country. According to the experts’ assessments, shale gas production volumes just correspond to natural gas production decline in the United States.”
“Today Gazprom and Serbia confirmed the strategic nature of the bilateral cooperation in the oil and gas sector. A long-term contract was signed, Serbia received the guarantees of gas supplies at a good price. Successful execution of joint projects in oil production and processing as well as underground gas storage strengthens our partner relations. The South Stream project – the largest European infrastructure project for today – will include Serbian companies and fully cover Serbia's future demands for energy resources. We are looking into new power generation projects, which may become the next step in our strategic partnership”.
The signed Memorandum of Understanding for cooperation between Gazprom and CNPC is of long-term strategic nature, it determines the parameters of Russian natural gas supplies to China via the eastern route and establishes the framework for a 30-year contract for gas supplies from Russia to China.