Tag Archives: Gazprom

A technological revolution spurred the U.S. oil boom that resulted in the greatest increase in domestic oil production in a century, and while that has stuttered in the face of a major oil price slump and an OPEC campaign to maintain a grip on market share, the American response could be another technological revolution that demonstrates that the first one was merely an impressive embryonic experiment.

Even with the established reverse flow capacity from Europe, accumulated gas in Ukrainian gas storages, and reduced consumption in the industrial sector due economic collapse and war in the east, Ukraine might still face a severe gas shortage this coming winter, risking the security of supplies to all of Europe.

The China–Russia gas deal is nothing unexpected. It is merely business and another step for the two powerhouses towards conquering the challenges of energy security. Those with insecurities must simply grin and bear it. Perhaps more significantly, it allows for the delay in Sino–Russian exploration of offshore Arctic energy reserves — an environmentally hazardous endeavor.