Peak Oil to Peak Gas is a Short Ride - Andrew McKillop
Date: Wednesday, November 29 @ 17:51:43 PST
Topic: Production; Extraction; Exploration
As Bakhtiari and plenty of other observers surmise, Gazprom boasts of 'almost unlimited' gas reserves, are no more than boasts, and identical to oil reserve bragging by OPEC countries – designed to suck in capital and bolster investor confidence. In the real world, the diminishing but critical gas reserves of the three-biggest west Siberian gasfields (all of them 'associated') are unable to meet even short-term gas demand of Russia's domestic, CIS, and EU consumers. Only massive capital spending, and immense luck would make it possible for Russia to meet projected gas export demand in the 2009-2015 period. Put another way, Peak Gas, for Gazprom and its down-the-gasline consumer customers, is likely to arrive quite early, about 2009.
Financial Sense
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