On July 13, 2007 Gazprom and Total signed the Framework Agreement on the major terms and conditions of cooperation when developing Phase 1 of the Shtokman gas and condensate field. The identical Agreement between Gazprom and StatoilHydro (present Statoil) was signed on October 25, 2007.

In order to implement the project, on February 21, 2008 Gazprom, Total and StatoilHydro signed the Shareholder Agreement to set up the special-purpose company Shtokman Development AG. Gazprom holds a 51 per cent stake in the company, while Total and Statoil -- 25 and 24 per cent stakes, accordingly.

Putin aims to open offshore oil, gas to non-state firms | Reuters

A pro-Syria Lebanese Member of Parliament (MP) accused France of secretly sending troops to Syria.

The Lebanese Baathist MP Asem Konsoa claimed that the Syrian regime forces arrested 18 French officers and 100 paratroopers, along with 70 Lebanese for joining and fighting within the ranks of the protesters in the restless city of Homs.

Konsoa added that such a "scandal" might threaten the political future of the French President Nicolas Sarkozy. The MP vowed to divulge more information kept under wraps about the Lebanese "conspirators."

The Lebanese MP anticipates that the armed conflict will cease within a month's time, claiming the Syrian army is increasingly imposing its control on the Baba Amr neighbourhood in Homs.

In Syria, Total is present on the Deir Ez Zor permit (100%, operated by DEZPC of which 50% is owned by Total) and through the Tabiyeh contract that became effective in October 2009. For both assets, the Group's production was 39 kboe/d in 2010, compared to 20 kboe/d in 2009 and 15 kboe/d in 2008.

File:Deir ez-Zor in Syria (+Golan hatched).svg - Wikimedia Commons

Three new agreements were approved:

Whilst other sources claim that they have heard that Moscow is open to the departure of Assad, but that Russia does oppose the complete collapse of the Syrian regime! We have also seen the Russian ambassador to Israel warning the Israelis, on a leaked video clip that can be seen on [VIDEO] , that "if I were you, I'd prefer a bad guy like Assad to a dozen good guys from the Muslim Brotherhood." This is a conflicting set of messages, indeed Putin's statements in themselves are suspicious, particularly when he claimed that a Russian helicopter landed in Homs and attempted to rescue French journalist (Edith Bouvier), but this did not succeed, laying the blame for this on the Syrian rebels. However what is concerning here is: Were Russian forces involved in the suppression of the Syrian people, in order to assist Assad?

Russia and China have joined the UN Security Council's calls for the Syrian government to allow humanitarian aid workers immediate access to the embattled city of Homs. The Syrian military has said it will only let the Red Crescent in the morning.

Ā­The UN Security Council, including Russia and China, has urged Damascus to grant UN envoy Valerie Amos immediate access to the country.

The U.K. may join the Russian-led Nord Stream gas pipeline under the Baltic Sea to Germany and beyond, Prime Minister Vladimir Putin said, Interfax reported.

"We have begun negotiations that will allow Great Britain to join Nord Stream and gradually become a gas importer," Putin was cited as saying by the Russian news service. Putin didn't elaborate on U.K. participation in the project.

Putin said economic relations between the U.K. and Russia are currently "bad," with just $16 billion in bilateral trade versus $72 billion with Germany.

To contact the reporter on this story: Denis Maternovsky in Moscow at dmaternovsky@bloomberg.net

To contact the editor responsible for this story: Brad Cook at bcook7@bloomberg.net

MOSCOW -- Gazprom and Eni have agreed to adjust the terms and conditions for Russian natural gas supplies to Italy.

Paolo Scaroni, CEO of Eni, and Alexey Miller, chairman of the Gazprom Management Committee met to discuss the progress of the detailed action plan stipulating the South Stream gas pipeline construction. The parties confirmed the intention to make the final investment decision of the project this November, and to start construction operations in December 2012.

Gazprom has a 50% stake in the South Stream offshore project, with Eni holding 20%, and Wintershall and EDF 15% each.

The projects include Sempra Energy's 12mtpa Cameron LNG export project in Louisiana, Freeport LNG's planned 2.8 billion cubic feet/day (bcf/day) - around 21.25mtpa - project in Texas and Dominion's proposed 7.82mtpa export scheme at Cove Point in Maryland on the US east coast. Sempra and Freeport LNG declined to comment on the matter, while calls to Dominion were not returned. US energy secretary Steven Chu met with Japanese senior official Seishu Makino of METI last September. The 13 September 2011 meeting, confirmed by the US Department of Energy (DOE), emphasised "continued cooperation across a broad range of energy topics", but the US agency did not reveal specific details on US LNG export regulation or trade.

The devastating earthquake and tsunami in Japan in January 2011 forced the closure of many of its nuclear power facilities. This forced Japan, which was already the world's largest importer of LNG, to import even more. Luckily for the country, it had already embarked on a major project to expand its existing LNG terminals and to build new ones.

The CEO of Norway's Hoegh LNG said in May "I've been in the LNG market for more than 20 years and I've never seen the market change this rapidly or this strongly."

In addition to Japan, the next two biggest importers of LNG are South Korea and China. In total, Asia accounts for about 60% of global demand for LNG, and their imports are still rising. So after the Japanese earthquake, in particular, the industry's supply/demand fundamentals -- which were already turning positive -- accelerated the revival in LNG shipping.

Japan's oil and gas exploration company INPEX has signed a binding sales and purchase agreement (SPA) with a consortium of five Japanese utilities for 4m tonnes per annum (mtpa) of supply from its Ichthys project in Darwin, Australia, the company said on Tuesday.

Operator INPEX said it had reached agreements with Tokyo Electric Power (TEPCO) and Tokyo Gas for the sale of 1.05mtpa each. Kansai Electric and Osaka Gas will lift 800,000 tonnes per annum (tpa) each, while Kyushu Electric's offtake will be 300,000tpa.

The Ichthys Project is a Joint Venture between INPEX Browse Ltd (76%, the Operator) and Total E&P Australia (24%). Gas from the Ichthys Field, in the Browse Basin offshore of Western Australia, will undergo preliminary processing offshore to remove water and raw liquids, including condensate. The gas will then be exported to the onshore processing facilities in Darwin via an 850km subsea pipeline. The Ichthys Project is expected to produce more than 8 million tonnes of LNG, approximately 1.6 million tonnes of LPG per annum and 100,000 barrels of condensate per day.

more than a dozen representatives from Gazprom arrived in the country this week to discuss the potential for work in the Leviathan natural gas field.

U.S. energy company Noble Energy said it believed it uncovered around 17 trillion cubic feet of natural gas in the offshore field.

Calcalist said it would cost as much as $8 billion to develop the field. New partners are needed to hasten development.

Calcalist said Gazprom discussed a variety of options for Leviathan, including partnerships with other energy companies and sales agreements for regional markets. Gazprom, the new service said, is seeking to establish a stronger presence in the Middle East market.

Prime Minister Viktor Orban and his Georgian counterpart Nika Gilauri agreed on the importance of establishing a pipeline that will transport liquefied natural gas (LNG) from Azerbaijan to Central Europe via the Black Sea and Romania, Prime Minister's spokesman Peter Szijjarto said on 17 February, Budapest Business Journal reported.

The state-owned Hungarian Electricity Works (MVM) became a shareholder in AGRI LNG, the project company for the pipeline, a year ago.

MVM shares ownership of the company with Romania's ROMGAZ, the Georgian Oil and Gas Corporation (GOGC) and the State Oil Company of Azerbaijan Republic (SOCAR).

The pipeline is expected to cost ā‚¬4 billion - 6 billion to build. It will have annual capacity of 7 billion cubic meters.

The National Economy Ministry said previous Thursday that Hungarian and Georgian business representatives held a forum during Gilauri's visit to Budapest.

National Economy Minister Gyorgy Matolcsy and his Georgian counterpart Dimitri Gvindadze signed a double taxation avoidance agreement on 16 February.

The Azerbaijan--Georgia--Romania Interconnector (AGRI) is a proposed project to transport Azerbaijani natural gas to Romania and further to Central Europe. Natural gas would be transported by the pipeline from Sangachal Terminal in Azerbaijan to the at the Kulevi Terminal at the Black Sea coast of Georgia. In Kulevi, the liquefied natural gas export terminal (LNG plant) would be built. Liquefied natural gas will be transported by LNG tankers to the Constanţa terminal in Romania. After regasificaton natural gas will be delivered through the existing gas grid to Romania and other European countries.[1][2][3] Alternative to the transportation of liquefied natural gas is transportation of compressed natural gas.[1]

Capacity of the interconnector is expected to be 7 billion cubic metres (250 billion cubic feet) of natural gas per year, of which 2 billion cubic metres (71 billion cubic feet) will be consumed in Romania.[2] The project is expected to cost cost ā‚¬4--6 billion.[4][5]

On 13 April 2010, the Minister of Industry and Energy of Azerbaijan Natig Aliyev, Minister of Economy, Commerce and Business Environment of Romania Adriean Videanu and Georgian Energy Minister Alexander Khetaguri signed a memorandum on implementation of the project and establishment of the project company headquartered in Bucharest.[1][2][6] The project is developed by AGRI LNG Co formed by Romgaz, State Oil Company of Azerbaijan Republic, Georgian Oil and Gas Corporation, and MVM.[7] This is possible that also Bulgaria can join the project.[7]

The project is seen as a competitor to the Nabucco pipeline, White Stream, South Stream, Trans Adriatic Pipeline, and Interconnector Turkey--Greece--Italy projects.

Negotiations are being carried out with Exxon (US), Chevron (US), Occidental (US) and Elf Aquitaine (France) and Ramco (UK) on selected contract territories. Amoco, Unocal, Arco, Shell (UK) and Mobil are in the process of studying geological and geophysical data on the separate areas of the Azerbaijani sector of the Caspian for the selection of a block.

The small country, north of Iran on the Caspian Sea, is home to the Azerbaijan International Oil Consortium. Ten oil companies--led by BP (nyse: BP - news - people )with a 34% stake and Unocal with 10.3%--are jointly developing major fields there. Early production is 150,000 barrels per day, with output slated to soar to 1.1 million barrels per day by 2009. The consortium will move much of that oil through the nearly complete BTC pipeline from Baku, Azerbaijan to Ceyhan, Turkey. Unocal owns nearly 9% of that $2.9 billion project.

The United States strongly supports the idea of construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline. At the same time, Washington strongly opposes meeting of Pakistan's needs in energy resources by constructing pipeline to purchase "blue fuel" from Iran, ITAR-TASS quotes U.S. Secretary of State Hillary Clinton as saying on Wednesday.

He made the remarks while responding to a question about US threats to energy projects with Iran, including the pipeline and ventures to import electricity, on "Prime Minister Online", a monthly TV show in which he interacts with the public.

US Secretary of State Hillary Clinton [ Images ] has warned Pakistan of "damaging consequences" over the gas pipeline with Iran, saying Islamabad [ Images ] could face sanctions if it went ahead with the ambitious project.

"We have been very clear in pointing out the consequences of building this pipeline," Clinton told lawmakers at a Congressional hearing in Washington on Wednesday.

She warned that sanctions could be triggered if the pipeline is constructed either as an Iranian project or a joint project with Islamabad.

DUSHANBE, March 1, 2012, Asia-Plus -- Mr. Nick Harvey, the Minister of State for the Armed Forces of the United Kingdom, is arriving in Dushanbe for a short visit.

Mr. Nick Harvey is a British Liberal Democrat politician; he is Member of Parliament (MP) for North Devon.

A well-informed source at the government says President Emomali Rahmon will receive British minister tomorrow morning.

According to him, the sides are expected to exchange views on state and prospects of further expansion of bilateral cooperation between Tajikistan and the United Kingdom in different fields, including military and military-technical cooperation.

Rahmon and Harvey will also consider issues related to providing regional security as well as peace and stability in Afghanistan, the source added.

For the first time in decades, the Eastern Saudi Arabian volatile situation has reached the vital oil sector. A pipeline between Awamiya and Safwa has been reportedly targeted, and is under fire; the Saudi government sources were quick to claim that the fire is not an explosion and is one kilometer away from the pipeline. Our correspondent in Qatif confirmed that the area under fire is indeed where major pipelines are located; tomorrow is the anniversary of Fatima Zahraa's death, the prophet Mohamad's only daughter. It is an important and symbolic date for Saudi Shiites, and might constitute a suitable timing for such an escalation against the Saudi government's ongoing repression in the region.

The most complex Saudi Aramco refinery is on the Arabian Gulf at Ras Tanura

The origins of Saudi Aramco can be traced back to May 29, 1933, when the Saudi government granted a concession to Standard Oil of California

2007 Saudi Aramco subsidiary Saudi Aramco Sino Co. Ltd. signs agreements with ExxonMobil, Sinopec Corp and the Fujian Provincial Government of China to form two joint ventures: Fujian Refining and Petrochemical Co. Ltd., a refining and petrochemicals venture, and Sinopec SenMei (Fujian) Petroleum Co. Ltd. (SSPC), a marketing venture.

2008 Saudi Aramco celebrates the 75th anniversary of the May 29, 1933, signing of the oil concession between the Kingdom of Saudi Arabia and Standard Oil of California (Socal). King Abdullah visits Dhahran to celebrate the 75th anniversary.

2009 CEO inaugurates KAUST, King Abdullah University of Science and Technology, where many high profile guest, state leaders, kings, and scholars attended the ceremony.

2009 Saudi Aramco reaches 12 Mbbl/d (1,900,000 m3/d) capacity after completing an expansion program. Also, Petro Rabigh, the company's first petrochemical plant (a partnership with Sumitomo Chemicals Co., Ltd., begins production.

2010 Saudi Aramco unveils GigaPOWERSŖ and runs a first field test of ResbotsŖ.[17]

2011 Saudi Aramco starts production from Karan Gas Field, with an output of more than 400 standard cubic feet per day.[18]

2011 Saudi Aramco is officially named the world's largest and most valuable privately owned company. Saudi Aramco is said to be monopolizing the world's energy market.

2011 Aramco raised selling prices for all crude grades for customers in Asia and Northwest Europe for April shipments and cut prices for customers in the U.S.[19]

Construction has begun on a $23bn (£14.5bn) port project and oil refinery in south-eastern Kenya's coastal Lamu region near war-torn Somalia's border.

An oil pipeline, railway and motorway will also be built linking Lamu to South Sudan and Ethiopia.

Newly independent South Sudan plans to use Lamu as its main oil export outlet.

A BBC reporter says security concerns for the project may explain the presence of Ethiopian and Kenyan troops in Somalia aiming to pacify the region.

Kenya launched the construction of a massive port, railway and refinery Friday near a UNESCO-listed Indian Ocean island in a project it bills as the biggest ever in an African nation.

Kenyan President Mwai Kibaki, Ethiopian Prime Minister Meles Zenawi and South Sudanese President Salva Kiir unveiled a plaque at a ceremony to mark the official start of building work near Lamu island in Kenya's southeast.

Nairobi hopes the $24.5 billion (18.5 billion euro) project will turn the east African country into a regional economic hub and propel it to become a middle-income economy in the next two decades.

The partners in the Shah Deniz gas field development in the Caspian Sea have provisionally opted for exclusive negotiations with Trans Adriatic Pipeline (TAP) on a gas export route to southern Europe.

According to Harry Sachinis, chairman of competing pipeline consortium IGI Poseidon and chairman and CEO of DEPA: "We understand that this is just a provisional decision by Shah Deniz and we remain convinced that the ITGI project presents the best solution for the opening of the Southern Gas Corridor and for Azerbaijan, or other gas producing countries, to export their gas to Europe.

"ITGI is the most advanced pipeline system, the only one with all the necessary permits and agreements in place and strongly supported by the governments of both Greece and Italy...

"ITGI is the only project able to take a Final Investment Decision in line with the time schedule of gas production from Shah Deniz II field and thanks to the pipeline from Greece to Bulgaria (the IGB pipeline project) the ITGI system will enable the diversity of sources and routes of supply to southeastern Europe from 2014."

The ITGI project will be constructed on the basis of available gas from Shah Deniz II (10 bcm/yr or 353 bcf/yr), with capacity for expansion to guarantee transportation of additional supplies at a later date.

It would make use of existing infrastructure in Turkey and Greece with a new pipeline (IGI) connecting Greece to Italy. This would include a 200-km (124-mi) offshore section through the Ionian Sea.

BAAR, Switzerland -- The Trans Adriatic Pipeline (TAP) has submitted its application for the construction of an Independent Natural Gas System to RAE, the Greek Regulatory Authority for energy.

TAP's Greek section of the pipeline will be approximately 465 km (289 mi) long and will commence at Komotini, where it ties into the national grid system. The pipeline will then cross Greece, Albania and the Adriatic Sea, coming ashore in southern Italy.

Rikard Scoufias, TAP's country manager in Greece, said: "TAP's INGS submission follows shortly after on our TPA (Third Party Access) exemption application last month and constitutes a key element of the final steps towards concluding the permitting process for construction of the TAP pipeline. The construction itself, which is backed by some of the largest European energy companies (Statoil, EGL and E.ON), is expected to bring in excess of ā‚¬1.5 billion ($2.1 billion) investment into Greece and to generate approximately 2,000 jobs. I am very pleased to see how well we are progressing with the Greek authorities regarding our various permits. Our commitment to Greece stands as firm as ever, and we are looking forward to a long and fruitful partnership."

TAP will be ready to begin pipeline operations in time for first export gas west of Turkey (expected in 2017/18) from Shah Deniz.

TEHRAN, March 3 (Reuters) - Iran has discovered one of

its biggest oil fields with high quality crude in a southern

province, the semi-official Mehr news agency quoted an official

as saying on Saturday.

"The preliminary studies show enormous crude reserves in

this oil field, which can be considered as one of Iran's biggest

fields," Mahmoud Mohaddes, head of the exploration office at the

state National Iranian Oil Company (NIOC) told Mehr.

Mohaddes gave no further details about the field but said it

was located in the country's southern border region. Oil

Ministry officials were not available to comment.

Iran is looking to discover 2.5 billion barrels of

recoverable oil and 23 trillion cubic feet of gas in the course

of the country's fifth five-year development programme

(2010-2015) now under way.

Iran, the world's fifth largest oil producer, has been hit

by tightening international sanctions over its disputed nuclear

work, which the West says is aimed at building bombs.

Tehran denies this, saying it needs the nuclear technology

to generate electricity.

In the past months Iranian energy officials have announced

exploration of new oil fields in various parts of the country to

show that Iran had boosted its exploration activities in the

absence of foreign companies.

OVERSIZED SHADES have replaced pith helmets, but the new scramble for Africa has its share of adventurers, would-be saviors, and even turf battles. As Madonna's publicist explains, "She's focusing on Malawi. South Africa is Oprah's territory."

The map below takes a lighter look at the sometimes serious, sometimes silly business of celebrity altruism. For more on how Africa became the hottest continent for A-list do-gooders like Bono and Brangelina, see here. And if you're looking for a more sober approach, check out our recent package on human rights.

This is a story about power, power over entire nations and continents. The story describes the vehicle to that unparalleled power over nations, oil, and the vital role it has played in peace as well as wars in the past century. Henry Kissinger, the former American Secretary of State put it succinctly during the first oil shock of the early 1970's. He declared, "Control the oil and you control entire nations." A thin red line runs through the history of the world since Fashoda, and that is covered in oil and blood. This book is not for the faint of heart, but it is meant to provoke reflection and discussion among those who can see beyond the daily media manipulation of reality that is called news.

Banks have created an economic doomsday scenario. Greece is going to default on 20 March, and will eventually get to renounce 80% if not more of the debt that its government very unwisely took on (never mind Goldman Sachs high crimes, governments are supposed to have a modicum of intelligence and integrity).

Moody's has downgraded Greece's credit rating to the lowest rating on their scale following a similar move by Standard and Poor's which cut Greece debt to "selected default".

Moody's also warned debt deal Greece entered a week ago, which private investors losses are expected in excess of 70%, would constitute a distressed exchange, and hence a default.

The rating cut also came with warnings that Greece's debt load will be over 100% GDP for many years to come.