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FUEL ÝÊÑÏÎÐÒ BLUE Gazprom Export Global Newsletter IN THIS ISSUE To Our Readers: Gas is Good Pg. 1 Season’s Greetings Pg. 1 TO OUR READERS: years, more than half of which will come Gazprom and the European Union: directly from government subsidies. These Partnership Reshaping subsidies will not contribute to significant Gas is Good emission reductions but are likely to distort Pg. 2 interfuel competition. On the Occasion of 20 Years of Cooperation The role of natural gas in ensuring with BASF/Wintershall: Cooperation That future energy sustainability cannot be Renewables will only allow EU countries Serves As A Role Model underestimated. For years industry to achieve 62% of their carbon reduction experts have tried to convince political targets. Increasing natural gas usage by Pg. 3 influencers that natural gas is not just the same amount would satisfy 41% of On the Occasion of 20 Years of Cooperation another fossil fuel. While many claim the reduction target at a fraction of the with BASF/Wintershall: Interview with Viktor natural gas contributes to global warming, renewables’ cost. In fact, the EU could Chernomyrdin it can actually help reduce carbon save 800 billion euros by using natural Pg. 4 emissions, boost economic growth and gas to meet its 2020 targets instead of EuRoPol GAZ CEO: An Agreement that ensure energy supply security. renewable energy. Benefits All EU sustainable development targets Gas already provides a fast, reliable Pg. 5 require reducing carbon emissions by and comparatively inexpensive way of Liquified Natural Gas: The Fuel of Choice for 850 metric tons (mt) by 2020. Central and reaching ecological targets, especially Medium and Heavy Duty Trucking? Eastern European economic restructuring given the significant investment a switch Pg. 6 and greater European gas fuel use has to renewable energy would require. already reduced emissions by 465 mt. According to our calculations, Europe Fluxys and Gazprom Export Will Explore Progress has slowed on this since 2000, could reduce its CO2 emissions by up to Cooperation In Natural Gas Storage however, and recent developments show 60% by replacing half of its coal power Pg. 7 the target could be very difficult to meet. plants with gas turbine plants. Journalists Of South Stream Nations While the EU has made efforts to reduce Renewable energy and especially nuclear Visit Gazprom emissions through its new Emissions power will play an important role in Pg. 7 Trading System and renewable energy the campaign against global warming. Bulgaria Joins South Stream project subsidies, progress has been The key will be to combine this energy Pg. 8 limited. Furthermore, the EU’s energy source with other low-emission fuels. industry decarbonization program is not Like renewable energy, natural gas will Friendly Battle of the Giants an effective means of reducing emissions. play an essential role in reducing global KHL and NHL clubs finally meet carbon emissions and cannot therefore Pg. 10 Based on our studies of 12 EU countries, be targeted as an enemy of the green renewable energy development will cost Gazprom Export and GDF SUEZ: economy. over 1.5 trillion euro over the next 20 Preserving the heritage of Russian emigrants in France Pg. 10 Season’s Greetings! A Friendly Match on Ice: Gazprom Export Hockey Team Played With the Dear Blue Fuel reader, World Hockey Stars Our communications department is pleased to provide you with the most updated Pg. 13 and insightful information on Gazprom Export’s continued efforts to provide stable Esimit Europa 2 Proved Its Speed and sustainable energy supplies to its key markets and partners. Pg. 13 This edition of Blue Fuel will feature an array of news, opinions, and academic research on gas industry developments, trends and challenges. We hope you enjoy this newsletter and have a happy Christmas and New Year! © Gazprom Export www.gazpromexport.com | [email protected] | +7 (499) 503-61-61 | [email protected] December 2010 | Vol. 3 | Issue 4 1 BLUE FUEL Gazprom Export Global Newsletter ÝÊÑÏÎÐÒ Gazprom and the European Union: Partnership Reshaping Excerpts from the speech by Alexander Medvedev Deputy Chairman of Gazprom Management Committee, Director General of Gazprom Export In Brussels (22 November 2010) fossil fuels, gas will continue to be a vital interventions, technical failures, natural input to the EU economy for as far ahead catastrophes, or even terrorist attacks. as one can reasonably foresee. Expanding the European gas We at Gazprom are proud of being a infrastructure matches the strategic privileged supplier to our European interests of both suppliers and customers. partners and customers. Extracting and The gap between rising gas demand and then shipping natural gas through the falling European production will create westward-bound pipeline network as an urgent need to ramp up imports. long as the Great Wall of China is by Where is Europe going to find them? all standards a large-scale endeavor. Our calculations show that even with One way of illustrating its scale is that expanded capacity to import Liquified Today we celebrate a remarkable though being pumped at high pressure, it Natural Gas (LNG), and even if — based milestone for the energy industry and takes about five days for a gas molecule on a rather optimistic assumption — for our bilateral relations: 10 years of extracted from the underground field in Iranian gas will be available by that time, the Energy Dialogue between Russia Siberia to reach a customer in Germany. it will not be feasible for Europe to fill this and the European Union. We should looming gap without Russia. Given the Russian natural gas has been flowing always bear in mind that Russia and projected demand growth, there is room to European customers for more than Europe share much more than energy for many projects and many suppliers. 40 years, and this flow was steadfast, ties: we are organically linked by Therefore we do not see any reasons to monotonously stable and uninterrupted history, culture, religion, psychology oppose new pipelines intended to bring – throughout the Cold War and the times and behaviour patterns, as well as by gas to Europe implemented by our peers of economic turbulence following the economics and trade. Energy is more in the industry, including Nabucco, TAP, demise of the Soviet Union. The only than ever at the core of our economic and ITGI. exceptions were the blockades of Russian partnership: nowhere else is our mutual gas exports to Europe by the previous Gazprom is making its own substantial interdependence and common interest in government of Ukraine in January contribution. Together with European stability and security more evident. The 2006 and 2009, which were principally partners, Nord Stream and South Stream question now is how to further upgrade motivated by a desire to put pressure on have brought together a formidable team this relationship, and develop together the Gazprom in order to secure subsidized of global energy companies showing agenda of the future EU-Russia energy prices for domestic use. determination to address the future cooperation. gas demand surge in the most efficient Fortunately, the last notorious two-week fashion. We also welcome Europe’s plans conflict was effectively solved on the Addressing Europe’s energy needs to expand its interconnection and delivery basis of Ukraine’s acceptance of the First and foremost, in today’s globalized infrastructures, which will also contribute need to move to market prices for gas economy, growth and material well-being to enhanced security by providing more – something long urged by the EU and of any nation and its citizens depend flexibility to the supply network. other international bodies – as well as to on interchange and trade. This is fully terms and conditions in line with normal applicable to the rapidly expanding and international practice and European Gas green credentials integrating global market for natural gas. regulations. One factor which will increasingly drive According to recent forecasts of demand for natural gas is that it is by independent international consultancies, Expanding energy infrastructure far the cleanest burning fossil fuel, with Europe’s demand for natural gas will grow foremost regard to CO2 emissions. The The most effective contribution energy significantly over the coming decades, to accelerated substitution of natural gas for companies can make to long-term face an indigenous production gap of 70% units now fuelled by coal and oil products energy security and stability is to provide by 2030. This, coupled with decreasing would play a major role in cost-effectively infrastructure. Lessons learned last internal production, will force Europe to achieving carbon reduction goals. The year pinpointed the urgency of putting import more natural gas: 380 bcm in 2020 annual capacity of South Stream alone efforts into the diversification of supply and 440 bcm in 2030. Whatever progress routes to mitigate dangers from political the EU achieves in moving away from Continues on page 11 www.gazpromexport.com | [email protected] | +7 (499) 503-61-61 | [email protected] December 2010 | Vol. 3 | Issue 4 2 BLUE FUEL Gazprom Export Global Newsletter ÝÊÑÏÎÐÒ On the Occasion of 20 Years of Cooperation with BASF/Wintershall Cooperation That Serves As A Role Model Gazprom and BASF with its oil and gas subsidiary Wintershall celebrated 20 years of German-Russian economic history together at an anniversary event in Berlin on 22 November. The companies laid the foundations for their cooperation in the fall of 1990 with a long-term agreement to market Russian natural gas in Germany. Today, the partnership between the world’s leading chemical company and the world’s largest producer of natural gas extends from exploration and production of natural gas in West Siberia to transportation through the Nord Stream pipeline and the sale of natural gas in Germany and Europe, by the jointly owned natural gas trading company WINGAS.

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