scholarly journals Oil and Gas in the Arctic: Legal Status and Reserves

2014 ◽  
pp. 60-67
Author(s):  
N. N. Shvets ◽  
P. V. Beresneva
Keyword(s):  
Legal Status ◽  
Oil And Gas ◽  
International Energy Agency ◽  
Business Case ◽  
Gas Production ◽  
Production Costs ◽  
The Arctic ◽  
Outer Continental Shelf ◽  
Oil And Gas Development ◽  
Energy Agency

When researching such a hot topic as development of oil and gas reserves in Artie it's crucial to answer 3 key questions. What is legal status of Artie reserves and Russian offshore zone in Arctic? Are there any gaps in international lawthatinhibits oil and gas development? How big are Arctic oil and gas reserves? Are they well-explored? What are production costs of oil and gas in Artie? Is it profitable to develop reserves in Artie? The article addresses these vital questions with the detailed analysis. 1982 UN Convention on the Law of Sea partially regulates Artie legal status but countries apply sectorial principal to Arctic territories to claim their rights. There are few border disputes left. The borders of Russian outer continental shelf are shaped by international law and bilateral agreements and undergoing final review within UN processes and mechanisms. Arctic reserves'estimates do vary significantly as the region is barely explored. According to with a high 2008 US Geological Survey and 2006 Wood Mackenzie and Fugro Robertson study Arctic reserves are about 10-15% of global reserves. Most of them are offshore (around 85%), and gas accounts for 80% of reserves. Russia has more than a half of Artie reserves. Under International Energy Agency it's profitable to develop Arctic oil reserves as production costs ($40-100 bbl) are below current and 2035 forecast oil price. On the contrary, gas production is questionable from costs point of view. Gas market is projected to remain regional. With Artie gas production cost of$ 4-12 million BTU, there is no business case to develop Artie gas in America and at the edge of profitability in Europe.

scholarly journals Caspian or Arctic region: that is the question…

2020 ◽  
Vol 6 (4) ◽  
pp. 427-437
Author(s):  
S. Y. Chernitsyna
Keyword(s):  
Legal Status ◽  
Oil And Gas ◽  
Arctic Region ◽  
Gas Production ◽  
Lessons Learned ◽  
The Arctic ◽  
Caspian Region ◽  
The Caspian Sea ◽  
Oil And Gas Production ◽  
The Arctic Region

The article compares the problems of two strategically important regions for Russia — the Caspian region and the Arctic region. Despite the fact that there are some significant geographical and climate differences, the geopolitical situation in the regions is similar. There are almost identical risks in the development of these regions. Special attention is paid to the issue of ecology in the conditions of active oil and gas production. The question concerning the instruments of regulation of interstate relations is sharply raised. International cooperation is essential in addressing key issues in the regions, such as improving socio-economic conditions, energy distribution and border management. In particular, it is necessary to define a regulatory framework that would meet the new realities in the Arctic. As for the international legal status of the Caspian sea, it was settled by the adoption of the Convention following the summit in 2018. The main difference is that the Caspian region was exposed to the anthropogenic factor much earlier. The lessons learned from the work in the Caspian region can be used in the Arctic region, which can reduce some of the risks associated with the interaction of coastal countries.

Petroleum production and development across Australia 2017

2018 ◽  
Vol 58 (2) ◽  
pp. 469
Author(s):  
Graeme Bethune ◽  
Susan Bethune
Keyword(s):  
Oil And Gas ◽  
International Energy Agency ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Petroleum Exploration ◽  
The West ◽  
Energy Agency ◽  
Gas Industry ◽  
Oil And Gas Production ◽  
Short Supply

This Petroleum Exploration Society of Australia review looks in detail at the trends and highlights for oil and gas production and development both onshore and offshore Australia during 2017. Gas production soared while oil production plummeted yet again. Liquefied natural gas (LNG) did well; 2017 was a great year for LNG and 2018 should be even better. There are stark contrasts between domestic gas on the west and east coasts. On the west coast, prices are affordable and supply relatively plentiful. On the east, prices are high and gas is in short supply. This paper canvasses these trends and makes conclusions about the condition of the oil and gas industry in Australia. This paper relies primarily on production and reserves data compiled by EnergyQuest. In its latest review of Australian energy policy, the International Energy Agency comments yet again on the weaknesses of Australian oil and gas statistics. This paper also makes some observations on these weaknesses.

scholarly journals THE IMPACT OF COVID-19 ON NATURAL GAS MARKETS IN 2020

2021 ◽  
Vol 2(73) (1) ◽  
pp. 16-26
Author(s):  
Florinel Dinu ◽  
Artemis Aidoni ◽  
George Iulian Oprea
Keyword(s):  
Natural Gas ◽  
Oil And Gas ◽  
International Energy Agency ◽  
Business Environment ◽  
Gas Production ◽  
Energy Agency ◽  
Natural Gas Markets ◽  
Warm Start ◽  
Gas Markets ◽  
The Impact

"A warm start to the year 2020 coupled with the impacts of the COVID-19 pandemic had a devastating impact on the Oil and Gas sector across the globe. A great economic shock was felt throughout this period and continued until the end of the year and even during the next year, but the extent of the damage is still uncertain, as is the speed and scale of recovery. Owing to the global lockdowns that resulted from the COVID-19 pandemic, gas consumption and production plummeted and the prices reached a new record low. As the pandemic started to spread in Europe the gas production went below the 2015-2019 range reflecting the decreasing trend of gas production in EU. In the same period 5 years ago the gas production was 36.6 bcm, more than twice as in Q1 2020, illustrating the rapid decrease in gas production in the block of 27 and the increase in import dependenc in natural gas. This study highlights the effects of COVID-19 on the gas markets based on publications of National Regulatory Authorities, Transmission System Operators, International Energy Agency, one of the world’s most trusted providers of data of global commodities markets and European Energy Exchange. Under the optimistic infection scenario, gas demand will recover close to the non-pandemic level by 2021. Unfortunately, the oversupply situation is improbable to be overcome promptly and in a more pessimistic way there is no visibility for a better business environment before 2023. "

Northern Australia oil and gas: a new engine for Australia's prosperity?

2015 ◽  
Vol 55 (2) ◽  
pp. 405
Author(s):  
Nicholas Heyes ◽  
Robbert de Weijer
Keyword(s):  
Success Factors ◽  
Oil And Gas ◽  
International Energy Agency ◽  
Gas Production ◽  
Government Support ◽  
Asia Pacific ◽  
Northern Australia ◽  
Energy Agency ◽  
New Ways Of Working ◽  
Tax Benefits

The region of Australia comprising the area of the NT and northwest Queensland has significant conventional and shale resources that can see it emerge as the next major global oil and gas hub. According to the International Energy Agency (IEA), in the Asia-Pacific region, the natural gas production-consumption shortfall is expected to grow from 99.8 million tonnes per annum (mtpa) in 2012 to 251.7 mtpa in 2025 (IEA, 2014). Australia is well-positioned to cater to this growing demand, and is set to become the world’s largest LNG exporter by 2020. The northern Australia region can help to meet this growing global demand and also serve domestic east coast demand. Development of these resources would significantly accelerate the regional and national economy, but success will depend on doing it at a cost that is competitive with new sources of hydrocarbons from around the world. This extended abstract outlines the natural advantages and challenges being faced by operators seeking to develop this region of northern Australia. Drawing on insights from global experiences, it identifies the key success factors and challenges faced in different regions during their development and commercialisation. It provides guidance and recommendations for maximising the development potential in northern Australia including: new ways of working; industry collaboration including sharing of infrastructure and data; service provider development; commercial partnerships; better access to capital; and, government support in tenure reform, incentives, tax benefits, capability development and investments in infrastructure.

Consideration of Geopolitical Challenges within the Analysis of Geoenvironmental Risks for Oil and Gas Development of the Russian Arctic

2019 ◽  
Vol 16 (6) ◽  
pp. 50-59
Author(s):  
O. P. Trubitsina ◽  
V. N. Bashkin
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Optimal Operation ◽  
The Arctic ◽  
Stage Model ◽  
Oil And Gas Development ◽  
Gas Industry ◽  
The Impact ◽  
Further Development ◽  
Geopolitical Risks

The article is devoted to the consideration of geopolitical challenges for the analysis of geoenvironmental risks (GERs) in the hydrocarbon development of the Arctic territory. Geopolitical risks (GPRs), like GERs, can be transformed into opposite external environment factors of oil and gas industry facilities in the form of additional opportunities or threats, which the authors identify in detail for each type of risk. This is necessary for further development of methodological base of expert methods for GER management in the context of the implementational proposed two-stage model of the GER analysis taking to account GPR for the improvement of effectiveness making decisions to ensure optimal operation of the facility oil and gas industry and minimize the impact on the environment in the geopolitical conditions of the Arctic.The authors declare no conflict of interest

scholarly journals Arktisk politik og regimedannelse i 2010'erne

Nordlit ◽  
2012 ◽  
Vol 16 (1) ◽  
pp. 151
Author(s):  
Nikolaj Petersen
Keyword(s):  
Final Section ◽  
Oil And Gas ◽  
The Arctic ◽  
Outer Continental Shelf ◽  
National Authority ◽  
Arctic Council ◽  
Regime Formation ◽  
International Shipping ◽  
Recent Developments ◽  
The Unclos

Recent developments have placed the High North on the international agenda. These include global warming, the prospects of major oil and gas finds, the opening of the Arctic Ocean to international shipping and the ongoing partition of its outer continental shelf between the five coastal states. In the so-called Ilulissat Declaration of 2008 these "Arctic Five" promised to play according to the UNCLOS rules and to shoulder their responsibility as coastal states. Despite this, the future may see both cooperation and conflict in the Arctic. The aim of the article is to discuss the possibilities of cooperative schemes, regimes, to regulate the problems which increasing shipping and extraction industries and fisheries may cause. First, a survey of future Arctic actors and fora is presented. While Arctic politics isstill dominated by the eight members of the Arctic Council, other actors, most clearly China, South Korea, Japan and the European Commission, are pressuring for influence. Furthermore, the Arctic Council is pressured by the "Arctic Five" and has reacted by establishing a secretariat and by adopting its first binding decision, anagreement on cooperation in search and rescue operations. Other relevant fora are the IMO, the WMO and UNCLOS. Next, an inventory of future "tasks" facing the Arctic nations is presented. They include defence tasks, sovereignty tasks, national authority tasks, and tasks, which can only (or best) be handled in regimes. Such regimes seem most needed with respect to international shipping. In the final section the discussion on possible regimes gets more concrete. Many tasks can best be handled by the IMO, but the Arctic Council, the WMO and UNCLOS have also roles to play. In particular, the five Arctic costal states have acrucial role as providers of specific regime services. Without their participation Arctic regime-formation is a non-starter,

Sign in / Sign up

Export Citation Format

Share Document