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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (6761)	5/24/2014 11:17:20 AM
From: Goose94	Read Replies (2) of 203376

Good news for uranium. Russia's gas king taunts crumbling Europe over China pipeline coup Europe has lost the global scramble for reliable energy supplies and faces a long-term squeeze as Siberian gas is diverted to the fast-growing markets of Asia, Russia's gas chief has warned in scathing comments aimed at EU political leaders. Alexey Miller, chairman of the state giant Gazprom, said Russia's $400bn deal this week to supply gas to China for 30 years is a black moment for Europe and will change the geo-strategic balance in the world. "The global competition for Russian gas resources started yesterday. Let there be no mistake about that. We have untapped the Asian market and this is going to have an impact on European gas prices," he said. Mr Miller said the 38bn cubic metres (BCM) contract from 2018 is larger than the entire volume of liquefied natural gas (LNG) sold in the world. "You don't find that sort of contract on the side of the road in Europe," he told the St Petersburg Economic Forum. Relishing his theme, he said China's gas demand is growing exponentially and would surge past Europe's total consumption to reach 400 BCM in "the very near future" as the Politburo tries to wean its polluted mega-cities off coal-powered plants. A large proportion of this will come from the vast Siberian fields, crowding out supplies for buyers in Europe deemed "less reliable". telegraph.co.uk

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