Rosneft will provide Europe with billions of cubic meters of natural gas

by time news

New agreement with BP will provide the countries of the Old World with additional volumes of “blue fuel”

The possibility of supplying 10 billion cubic meters of gas from our country to Europe under a new export agreement was discussed by the leaders of Rosneft Igor Sechin and BP Bernard Looney as part of the Russian Energy Week-2021. The contract between the largest producing majors of the planet will bring significant benefits to both parties: the Europeans will receive additional volumes of hydrocarbons, which they currently need, and the leader of the domestic raw materials industry will expand its presence in the blue fuel market of the Old World.

A proposal to implement a pilot project to export 10 billion cubic meters of gas from Rosneft resources under an agreement with BP was announced at a meeting with President Vladimir Putin, and the details of a new contract with representatives of the Russian government are currently being worked out. The implementation of the new export idea, according to Igor Sechin, will allow in the future to ensure the necessary supplies of “blue fuel” to the European market, which will contribute to the stabilization of the energy balance of the continent and fill the budget of our country with additional revenues.

A productive dialogue on increasing export deliveries of Russian gas to European consumers promises to become an incentive for longer and more effective relationships between Rosneft and its foreign partners. During Russian Energy Week 2021, Igor Sechin and Bernard Looney also discussed the possibility of creating a joint venture to develop infrastructure for natural gas refueling of our country’s vehicles. Moreover, one of the leitmotifs of the meeting was the strategic partnership of companies in the field of carbon management, the corresponding agreement on which was signed in February 2021.

It should be noted that Rosneft and BP have been developing the latest design standards and evaluating the implementation of a number of low-carbon technologies in their joint ventures for quite some time: the possibilities of implementing projects in the field of wind energy, energy efficiency, carbon capture and storage, and natural CO2 absorption are being considered. All this contributes to the implementation of the low-carbon plans of both companies. The parties are currently identifying further opportunities to improve the greenhouse gas emission reduction indicators. Another area of ​​cooperation is the exchange of experience on such issues as the methodology for accounting for greenhouse gas emissions, the practical application of technologies for determining the level of methane, as well as the development of optimal solutions to reduce its emissions.

It is worth noting that Rosneft was the first Russian company to present a comprehensive carbon management plan until 2035 with clear targets for reducing greenhouse gas emissions. The document includes the prevention of direct and indirect hydrocarbon emissions into the planet’s atmosphere in the amount of 20 million tons of CO2-equivalent, reducing the intensity of direct and indirect emissions in oil and gas production by 30%, reducing the intensity of methane emissions below 0.25%, as well as zero routine burning of associated gas. Over the past three years alone, Rosneft has reduced its gross emissions into the atmosphere by 17%. At the same time, the company gives priority to methane emissions when working on emission control. In 2019, Rosneft joined the initiative of leading international oil and gas companies and signed the Guidelines for the reduction of methane emissions in the natural gas value chain, which provide for consistently reducing methane emissions, improving the accuracy of methane emissions data, increasing transparency and much more. …

During their meeting, Igor Sechin and Bernard Looney also discussed the implementation of other joint projects, the number of which is constantly growing. Since 2015, Rosneft and BP, together with Indian companies, have been developing the Srednebotuobinskoye oil and gas condensate field Taas-Yuryakh in Eastern Siberia. Within the framework of this project, the construction of the main facilities of the second stage of the arrangement of industrial fields was completed. The production level is already 14 thousand tons per day, and in 2020 4.8 million tons of liquid hydrocarbons were extracted here from underground storage facilities. Work continues on the development of the Kharampursky and Festivalny license areas in Western Siberia. On the basis of the joint ventures Kharampurneftegaz and Taas-Yuryakh Neftegazodobycha, it is planned to launch ESG projects that envisage a combination of environmental, social and corporate governance. The companies are successfully implementing the largest joint production project abroad, Zohr, in Egypt. At present, the level of production at the fields of the Arab Republic averages at least 77 million cubic meters of gas per day.

Given these circumstances, confidence is being created in the strengthening of Russian-British energy relations. Rosneft and BP continue to cooperate in the supply of oil and petroleum products. Since 2018, the company of our country has supplied about 30 million tons of “black gold” and finished motor fuel to the British partner. Moreover, the holdings remain strategic partners in the German oil product market. In particular, Rosneft Deutschland continues to supply gasoline to German refueling networks BP – in 2020, their volumes amounted to 3.6 million tons. A new record may be set this year, since from January to August alone, traffic in this direction increased to 2 million tons, which on average exceeded a third of all major gasoline produced at factories with a share of Rosneft’s ownership in Germany.

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