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OIL AND GAS
India on pace to run an energy deficit, EIA finds
by Daniel J. Graeber
Washington (UPI) Aug 14, 2014


Trilateral European talks to focus on energy security
Brussels (UPI) Aug 15, 2013 - European Commission President Jose Manuel Barroso said future trilateral talks with Kiev and Moscow would focus on energy and national security issues.

Barroso said he spoke by phone with Russian President Vladimir Putin to discuss the overall context of the situation in Ukraine.

Ukraine and Russia have historic differences over natural gas. Russian energy company Gazprom in 2006 and 2009 cut gas supplies through Ukraine, jeopardizing downstream supplies to Europe, in response to contractual woes. That problem was exacerbated when in late 2013 Ukraine, a former Soviet republic, started tilting toward the European Union through an association agreement.

"It was agreed to hold consultations between the presidents of Russia, Ukraine and the European Commission on the issues related with the implementation of the association agreement as well as on the supply of gas, in parallel with the efforts to stabilize the political and security situation," Barroso's office said in a Thursday statement.

Russia is Europe's top natural gas supplier and the bulk of those supplies run through Ukraine's pipeline system, which was built in the Soviet era.

Barroso's office offered no time frame for the talks. Russia has suggested a September date.

India ranks among the top energy consumers in the world, with demand increasing at a double-digit rate, analysis from the U.S. Energy Department found.

The Energy Information Administration, a division within the Energy Department, said economic growth and modernization in India is leading to increased demand for energy.

"India's dependence on imported fossil fuels rose to 38 percent in 2012, despite the country having significant domestic fossil fuel resources," EIA said in a Thursday brief.

The government in April said it expected natural gas demand to more than double by the beginning of the next decade.

According to the terms of a five-year energy plan, the Indian government has said it wants to add at least one transnational pipeline to the midstream sector from either Iran, Oman or Central Asia.

"Because India has not been able to produce an adequate supply of domestic natural gas and has been unable to create sufficient natural gas pipeline infrastructure on a national level, it increasingly relies on imported LNG to meet domestic demand," EIA said.

The administration said that, as of 2012, LNG imports accounted for 29 percent of its annual consumption of 2.1 trillion cubic feet of gas.

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Spain's Canary Islands fume over oil exploration
Madrid (AFP) Aug 14, 2014
Spain's government sparked an outcry Thursday by giving oil group Repsol the all-clear to explore for oil and gas off the coast of the tourism-dependent Canary Islands. The industry ministry gave Repsol a three-year licence to drill in three sites some 50 kilometres (30 miles) off the coast of the Spanish archipelago, which lies off the northwest coast of Africa. The exploration, approve ... read more


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