Russia asked China to rescue from the oil sanctions, the United States

							Россия попросила в КНР спасения от нефтяных санкций США

In the face of Western sanctions cut off Russia from the modern technologies of oil and gas, the Russian government turned for help to China.

At the intergovernmental negotiations with China discussed the possibility of attracting Chinese investors to the Russian continental shelf, said the head of Ministry Alexander Novak.

According to him, the Chinese were asked about participation in the project “Gazprom oil” in the Barents sea and the Pechora sea, as well as “other fields.”

“Premier of China Li Keqiang talked about the desire and the interest of Chinese companies to participate in the development of oil and gas in our country,” — said Novak.

“In this direction now will be given appropriate instructions in more detail to study the participation of Chinese partners”, — added the Minister (quoted by TASS).

The supply in Russia equipment for production offshore and shale production was banned because of the sanctions, which were imposed in 2014, and last year strengthened. The result, according to the Ministry of natural resources for the 2016-17 biennium in the country was not commissioned any new gas field, failed to discover any large deposits of oil and work on the Arctic shelf had to be suspended.

The impact of the sanctions was, in particular, the Kirinskoye gas condensate field on the shelf of the Okhotsk sea, which was seen as a resource base for the third line of LNG plant on Sakhalin island after his inclusion in the sanctions list of the USA “Gazprom” had to be postponed starting date from 2021 to 2023.

Sanctions have long been frozen work on the South Tambey field in the Yamal-Nenets Autonomous district, which is developing “NOVATEK” and which was to supply raw materials for the project “Yamal LNG”.

For the same reasons we had to postpone the launch of an LNG terminal “Gazprom” in the Kaliningrad region, fell gas production of LUKOIL and has reduced the volume of production of the consortium of “Exxon Neftegas Ltd”, working on the project “Sakhalin-1”, lists the Ministry of natural resources report “On the status and use of mineral resources of the Russian Federation.

“Rosneft” declared a possible delay in starting the field of Russian and other projects. “This is due to commitments to limit oil production in line with the OPEC agreement, and the sanctions against Russian oil companies”, — the document says.

Rosneft has suspended projects on the Arctic shelf, including the South Prinovozemelsky Pomerania, North-Pomeranian-1, North-Pomeranian-2, Russian and Western-Matveevsky and East Siberian license areas.

Although Russia was able to increase production to 11.4 million barrels per day, beating the Soviet 1987, deceptively low current effect of sanctions should not mislead: technological constraints operate on the principle of compound interest, the Director of the energy school “SKOLKOVO” Tatiana Mitrova.

“The most accurate way here — the proverbial “ring of Anaconda”, which was used against the Soviet Union, says Mitrova. — Russian companies now practically is not their technologies and equipment for development of unconventional and offshore reserves.”

In its forecast, to 2025 year, due to sanctions Russia will lose about 5% of current oil production, and by 2030 — about 10%, or 1.1 million barrels a day. In monetary terms, at current oil prices it is 28.5 billion dollars of export revenue annually.

Recall that the Russian oil company “Rosneft” is preparing for a radical extension of anti-Russian sanctions up to the limit on sales of oil and oil products abroad.