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Opening of huge Russian field in drives another nail into Alaska's gas coffin

Alaska Dispatch -- In the Russian Arctic, state-owned oil giant Gazprom is doing what Alaskans have long dreamed of -- tapping vast reserves of natural gas at the top of the planet and shipping them to markets.

Although natural gas has been flowing from the Yamal Peninsula's Bovanenkovo gas field since June, this past week Gazprom hosted a big event to celebrate the official launch of its field and the workers there.

Bovanenkovo, one of the world's three largest conventional natural gas fields, holds an estimated 177 trillion cubic feet of gas. Its official opening featured a giant video monitor that beamed in an address from Russia President Vladimir Putin. The Wall Street Journal described the event like this:

Putin praised Gazprom’s successful launch of the new gas field, expected to produce for

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Submitted Oct 29, 2012 By: aservant

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LilRedWagonIN Champion Author Indiana Posts:7,786 Points:1,557,085 Joined:Oct 2008	Message Posted: Oct 30, 2012 7:26:20 AM Ignore LilRedWagonIN Report Abuse Maybe the White House can ship a big screen to Alaska this week and duplicate Putin.
bston Champion Author Oklahoma City Posts:1,825 Points:644,000 Joined:Mar 2011	Message Posted: Oct 29, 2012 10:20:20 PM Ignore bston Report Abuse They've got to jump on the band wagon too!
MAC48 Champion Author Dallas Posts:1,550 Points:767,825 Joined:Dec 2006	Message Posted: Oct 29, 2012 9:54:06 PM Ignore MAC48 Report Abuse This is the same logistical marketing problem faced in the 1970s with the initial development of the crude oil fields from the North Slope, shipped to Valdez via the Trans Alaska Pipeline and then shipped by oil tankers to refineries for conversion into consumer products. This was a very expensive partnership effort by several giant multinational oil companies since no one company had the financial resources to finance getting North Slope crude to market by themselves considering the perceived risk of failure involved with the project, the massive cost and the massive environmental group opposition to the project. The wish of the State of Alaska government to have the same level of effort with basically the same cost and risk applied to a project to get their North Slope conventional natural gas deposits to market has never been economically justified since the market value of natural gas, whether conventional or from shale formations, has not been able to sustain a market price high enough to recover the cost of the project with adequate profits to reward the investors and satisfy the tax burden that is sure to be imposed by the state government.
CVA19 Champion Author Salem Posts:2,393 Points:611,200 Joined:Aug 2011	Message Posted: Oct 29, 2012 7:56:41 PM Ignore CVA19 Report Abuse Anyone notice that the "greenies" are no-where to be found protesting around Russian drilling or litigating in Russian courts. I wonder if that's because they know that they would wind up incarcerated in Russian prisons.
lesndave Champion Author Texas Posts:3,047 Points:703,105 Joined:May 2011	Message Posted: Oct 29, 2012 7:18:43 PM Ignore lesndave Report Abuse Ok
TableTalk Champion Author Virginia Posts:1,184 Points:558,700 Joined:Nov 2008	Message Posted: Oct 29, 2012 5:57:30 PM Ignore TableTalk Report Abuse This is why gov't IS the problem.
joekool1 Champion Author Toledo Posts:1,099 Points:131,280 Joined:Sep 2012	Message Posted: Oct 29, 2012 4:20:35 PM Ignore joekool1 Report Abuse obama is probably funding this, secretlu
playtimeCLE Champion Author Cleveland Posts:8,565 Points:1,545,350 Joined:Nov 2008	Message Posted: Oct 29, 2012 4:14:04 PM Ignore playtimeCLE Report Abuse Russia has to have something to sell to the world.
FluffyDogAttack Champion Author Riverside Posts:1,082 Points:97,045 Joined:Oct 2012	Message Posted: Oct 29, 2012 3:33:02 PM Ignore FluffyDogAttack Report Abuse This is where Obama will ride in on his Green Horse and save the day with his new Energy Proposal. Nope, not Solar energy...it's POLAR energy! That's when your economy is so frozen from President Zero temps, you don't need any energy. [Edited by: FluffyDogAttack at 10/29/2012 6:34:23 PM EST]
nsdp Champion Author San Antonio Posts:1,117 Points:47,315 Joined:Jun 2012	Message Posted: Oct 29, 2012 10:31:52 AM Ignore nsdp Report Abuse Mitt4Prez these natural gas reserves are just east of the Ural Mountains about 5-6 time zones away from Asia. NorthWEST Siberia. The equal here in the US would be a pipeline from NYC to Honolulu. This gas will go to Europe not Asia. Abraham Lincoln Quotes Better to remain silent and be thought a fool than to speak out and remove all doubt. [Edited by: nsdp at 10/29/2012 1:32:34 PM EST]
nsdp Champion Author San Antonio Posts:1,117 Points:47,315 Joined:Jun 2012	Message Posted: Oct 29, 2012 10:27:52 AM Ignore nsdp Report Abuse henryeOH, the same problems that stopped them under Nixon, Ford, Carter, Reagan, HW Bush, Clinton, and W Bush. Lousy economics. Due to primarily NG quality. North Slope NG is 13% CO2 which will have to be removed and reinjected into the oil formations to maintain pressure so the oil will continue to flow. Add to that cots of imported special steel pipe from Korea, LNG terminals and sulfur removal plants and you would need $16 natural gas here int eh us to break even ont eh project. Abraham Lincoln Quotes Better to remain silent and be thought a fool than to speak out and remove all doubt.
DeepWaterTitan All-Star Author Riverside Posts:668 Points:231,140 Joined:Sep 2010	Message Posted: Oct 29, 2012 9:31:51 AM Ignore DeepWaterTitan Report Abuse We do need to start drilling for our own oil.
LarksNY Champion Author Albany Posts:1,409 Points:637,115 Joined:Jun 2006	Message Posted: Oct 29, 2012 8:58:57 AM Ignore LarksNY Report Abuse Got to keep the fires burning at the distilleries and keep the vodka flowing comrade!
mitt4prez Champion Author Tacoma Posts:1,757 Points:1,248,150 Joined:Nov 2007	Message Posted: Oct 29, 2012 8:55:27 AM Ignore mitt4prez Report Abuse Why are Asian customers willing to pay a premium for North American gas? Because they see said supply as being more reliable, not subject to the whims of Putin and his foul gang. Will this register with the Green fanatics or The Won? Nope. The Won steals his campaign commercials from Putin, so why not take all your ideas from Russia?
WILDCAT112 All-Star Author South Carolina Posts:922 Points:179,450 Joined:Aug 2012	Message Posted: Oct 29, 2012 8:28:22 AM Ignore WILDCAT112 Report Abuse NO MORE POTATOES
BudsterMO Champion Author Kansas City Posts:3,720 Points:705,130 Joined:Aug 2009	Message Posted: Oct 29, 2012 8:24:43 AM Ignore BudsterMO Report Abuse I am sure glad I don't live in Russia.
LongPlay Champion Author Albuquerque Posts:4,253 Points:1,241,375 Joined:May 2008	Message Posted: Oct 29, 2012 8:20:52 AM Ignore LongPlay Report Abuse We desperately need to eliminate Obama and get our own petroleum production going to provide jobs and dollars to the US!
mikerroy Champion Author Albuquerque Posts:2,571 Points:721,895 Joined:May 2005	Message Posted: Oct 29, 2012 8:18:52 AM Ignore mikerroy Report Abuse Ok
Asbury09 Champion Author Iowa Posts:7,223 Points:1,532,255 Joined:Jan 2009	Message Posted: Oct 29, 2012 8:17:02 AM Ignore Asbury09 Report Abuse part of the administration's plan to destroy
LoadToad Champion Author San Diego Posts:1,364 Points:1,298,045 Joined:Sep 2005	Message Posted: Oct 29, 2012 8:16:53 AM Ignore LoadToad Report Abuse OK
Topless2012 Champion Author Twin Cities Posts:2,437 Points:482,040 Joined:Jan 2012	Message Posted: Oct 29, 2012 8:16:09 AM Ignore Topless2012 Report Abuse Doing what we should be.
trekmanKY Champion Author Kentucky Posts:1,105 Points:360,335 Joined:Mar 2012	Message Posted: Oct 29, 2012 8:15:57 AM Ignore trekmanKY Report Abuse Bad news!
dlzastera Champion Author Minnesota Posts:4,520 Points:1,025,295 Joined:Mar 2006	Message Posted: Oct 29, 2012 8:15:31 AM Ignore dlzastera Report Abuse Watch the movie Obama's america 2016.
leemun Champion Author Utah Posts:5,544 Points:1,042,075 Joined:May 2010	Message Posted: Oct 29, 2012 8:14:49 AM Ignore leemun Report Abuse Thanks go out to the useful idiots in Washington. --Vladimir
henryeOH Champion Author Akron Posts:1,086 Points:59,520 Joined:Jan 2011	Message Posted: Oct 29, 2012 8:13:14 AM Ignore henryeOH Report Abuse OK whats stopping the Alaskans, Obummer
bullseye100 Champion Author New Jersey Posts:2,434 Points:586,005 Joined:Aug 2011	Message Posted: Oct 29, 2012 8:13:06 AM Ignore bullseye100 Report Abuse Don't we still hate Russia?
elhefe2003 Sophomore Author New Orleans Posts:136 Points:27,580 Joined:Oct 2012	Message Posted: Oct 29, 2012 8:13:01 AM Ignore elhefe2003 Report Abuse ok
matthwbar Champion Author Toledo Posts:4,073 Points:1,019,755 Joined:Jun 2007	Message Posted: Oct 29, 2012 8:12:27 AM Ignore matthwbar Report Abuse Damn Ruskies..!
1stClicker Champion Author Texas Posts:5,326 Points:2,245,495 Joined:Oct 2005	Message Posted: Oct 29, 2012 8:12:25 AM Ignore 1stClicker Report Abuse Right on LtRTH!
Ready Eddie Champion Author Twin Cities Posts:5,781 Points:1,344,720 Joined:Feb 2003	Message Posted: Oct 29, 2012 8:10:14 AM Ignore Ready Eddie Report Abuse whatever.
johton Champion Author Seattle Posts:1,225 Points:314,115 Joined:Jun 2012	Message Posted: Oct 29, 2012 8:09:52 AM Ignore johton Report Abuse somthing not right
LtRTH Champion Author St. Louis Posts:1,786 Points:586,225 Joined:May 2011	Message Posted: Oct 29, 2012 8:09:40 AM Ignore LtRTH Report Abuse This is what happens when you don't have an administration full of greenies. You get results.
CptnCanada Champion Author Saskatoon Posts:7,012 Points:915,300 Joined:Jun 2008	Message Posted: Oct 29, 2012 8:09:35 AM Ignore CptnCanada Report Abuse Why didn't the greens go over there and protest and form human shields in front of the bulldozers?... OH right they would have been shot over there..
4cmcwireless Rookie Author Oregon Posts:40 Points:47,180 Joined:Sep 2012	Message Posted: Oct 29, 2012 8:08:39 AM Ignore 4cmcwireless Report Abuse Hmmm, something smells bad....
frugalking Champion Author Twin Cities Posts:1,067 Points:218,445 Joined:Mar 2010	Message Posted: Oct 29, 2012 8:08:35 AM Ignore frugalking Report Abuse We need to harvest as much of our energy as possible to be energy independent. We should not let the Russians put us to shame. Drill baby drill.
Car54BC08 Champion Author British Columbia Posts:4,264 Points:1,512,290 Joined:Jun 2008	Message Posted: Oct 29, 2012 8:08:26 AM Ignore Car54BC08 Report Abuse This should help insure the price of natural gas stays down
FrankTA2 Champion Author New York Posts:4,303 Points:1,097,260 Joined:Jun 2007	Message Posted: Oct 29, 2012 8:08:18 AM Ignore FrankTA2 Report Abuse Oh well.
lightbulbman2008 Champion Author Worcester Posts:415,118 Points:1,589,585 Joined:Oct 2008	Message Posted: Oct 29, 2012 8:07:29 AM Ignore lightbulbman2008 Report Abuse something fishy...
Thor51 Champion Author London Posts:16,205 Points:2,771,185 Joined:Aug 2005	Message Posted: Oct 29, 2012 8:07:07 AM Ignore Thor51 Report Abuse So, of all those who are dissing the Administration for holding back on new drilling in the Arctic, how many own stocks in gas-producing companies? Well, the reality is that most are worth maybe 50% of what they were worth just a couple of years ago! And why, it is because there is TOO MUCH natural gas, which has forced the price down so low it is NOT ECONOMICAL to drill more wells. So the smart thing to do is LET the Russians sell their gas at rock-bottom prices, and then when the price rises as THEIR wells thin out, that would be the time to tap the Arctic here in North America. Ever wonder why the pipelines can't find funding to build a pipeline to bring those gas fields to market? It is NOT the Obama Admin ... it is ECONOMICS!!
Don20 Champion Author Oklahoma City Posts:9,682 Points:2,621,580 Joined:Mar 2005	Message Posted: Oct 29, 2012 8:06:38 AM Ignore Don20 Report Abuse Bovanenkovo, one of the world's three largest conventional natural gas fields, holds an estimated 177 trillion cubic feet of gas. Its official opening featured a giant video monitor that beamed in an address from Russia President Vladimir Putin. What are the Russians doing in Alaska to start with.???? Last time I checked Alaska belongs to the United States. The gas should belong to U.S. Give them a few rubles for their effort thats it in nut shell....
Somefatkid Veteran Author Alberta Posts:475 Points:128,295 Joined:Nov 2010	Message Posted: Oct 29, 2012 8:06:27 AM Ignore Somefatkid Report Abuse Chinto, the EPA has no jurisdiction in Russia.
repeater1 Champion Author Topeka Posts:8,313 Points:2,367,770 Joined:Oct 2005	Message Posted: Oct 29, 2012 8:06:22 AM Ignore repeater1 Report Abuse Interesting.
Barfood Champion Author St. Louis Posts:3,311 Points:1,019,630 Joined:Jun 2009	Message Posted: Oct 29, 2012 8:04:28 AM Ignore Barfood Report Abuse Why not leave it in the ground for now, I'm sure future humans will be able to use this (at an even higher value than today)!
goalie1950 Champion Author Phoenix Posts:6,420 Points:1,298,370 Joined:Oct 2009	Message Posted: Oct 29, 2012 8:03:47 AM Ignore goalie1950 Report Abuse The good thing is, the US doesn't need any of this natural gas from Russia. It has plenty of its own that it doesn't know what to do with.
Bigtex09 Champion Author Dallas Posts:4,298 Points:1,161,235 Joined:Oct 2009	Message Posted: Oct 29, 2012 8:01:43 AM Ignore Bigtex09 Report Abuse November 2012! let's change our stupidity when it comes to energy!
Double_Golden Champion Author San Francisco Posts:2,570 Points:606,585 Joined:Aug 2011	Message Posted: Oct 29, 2012 8:01:10 AM Ignore Double_Golden Report Abuse will gas prices come down again? I saw an article couple days early said gas price is lower about 6%...
Soglaos Champion Author Virginia Beach Posts:2,771 Points:741,905 Joined:Feb 2011	Message Posted: Oct 29, 2012 8:01:04 AM Ignore Soglaos Report Abuse ok
Taurus1 Champion Author Ohio Posts:3,135 Points:1,675,450 Joined:Apr 2006	Message Posted: Oct 29, 2012 8:00:35 AM Ignore Taurus1 Report Abuse Are we having another "race" with the Russians?
vcsuksu21 Champion Author Oklahoma City Posts:2,478 Points:707,980 Joined:Dec 2010	Message Posted: Oct 29, 2012 8:00:20 AM Ignore vcsuksu21 Report Abuse Should have been tax money for us. Now our govt will go back to borrowing to pay entitlements
Chinto12 Champion Author Illinois Posts:1,036 Points:411,585 Joined:Jan 2012	Message Posted: Oct 29, 2012 8:00:00 AM Ignore Chinto12 Report Abuse I hope Russia got the proper permits from the EPA.