Barentsnova: Russian energy committee: shale gas is a bluff

Shale gas is a European bluff to kick down Gazprom’s export prices, says chairman of energy committee at the Russian State Duma Ivan Grachev.

According to Grachev, there is no sense in trying to find an alternative to “cheap pipeline gas”. The Nord Stream pipe installed through the Baltic Sea has decreased risks connected to transit of gas via Ukraine and Eastern Europe, he underlines.

Ivan Grachev does not believe the so-called ‘shale gas revolution’ has been the reason to put off the Shtokman project. 
 
- One of major Shtokman shareholders - Norwegian Statoil withdrew from the project. After Norway had been given part of the disputed territories [in the Barents Sea], including the shelf, Statoil shifted its focus towards development of that area. Speculations on risks were also taken into account: European partners trust EU’s forecasts on plummeting prices for gas in the future.  MORE