Putin to Increase Participants in North European Gas Project

Russian President Vladimir Putin Thursday expressed an interest in opening up discussions to gather more partners to join the North European gas pipeline project.
'We don`t oppose inviting more participants to the project,' Putin said at an EU-Russian summit at the Russian resort of Sochi on the Black Sea coast.
Putin said companies from Germany and other European countries may join the project, which began in Russia last December.
The 746-mile long North European pipeline is expected to run from the town of Babayevo in the Vologda Region through Portovaya Bay on the Baltic Sea coast to the coast of Germany.
The Gazprom-led pipeline has a projected annual capacity of up to 55 billion cubic meters of gas.
German chemical company BASF and German energy company E.ON each hold a 24.5 percent stake, while Gazprom has a controlling stake of 51 percent.
In April, Putin said Russia may look for other markets for its energy resources as he criticized the EU`s concerns over its growing dependence on Russian energy supplies.
'You should understand us. What are we supposed to do when we hear (Europeans` concerns about Russian companies` expansion in the EU)? We start looking for other markets,' Putin said. 'We start perceiving this as a threat to our access to (European) markets.'
Malampaya Oil Deal Attracts 8 Bidders
The Philippine National Oil Co.-Exploration Corp., or PNOC-EC, received bids from eight companies looking to secure a partnership with the state-owned company for the exploration and development of the Camago Malampaya Oil Leg.
Eduardo V. Manalac, PNOC president and chief executive officer, said it received tenders from The Ability Group of Norway, the American-owned Argo/Mitra Group, Burgundy Global Corp., M3Nergy of Malaysia, Premiere Oil of the United Kingdom, Pearl/Pitkin of Singapore, Vanguard Oil and Gas Development of the United Kingdom and Synergy International of China.
Manalac said the company is assessing each company to determine partnership with government in the oil-rim development.
'We have received their proposals and we are evaluating them now, and we plan to finish evaluation, and make the choice of our partner by end of the month,' Manalac said.
'Partnering with a number of them is something we are looking at as well. We are considering each of the company`s strengths and equipment, with the notion that we want to make first oil before the end of 2007,' Manalac added.
The PNOC-EC plans to select a partner by the end of the month to participate in the consortium.
China Eyes Australian Lng
China National Offshore Oil Corp., parent of Hong Kong-listed CNOOC Ltd, plans to secure supplies from Australia to meet some of needs at the second phase of its liquefied natural gas project in Shenzhen.
Fu Chengyu, chairman of CNOOC, said the company expects to make small additional investment in the infrastructure on the second phase of the project, which will have a 7 million ton annual capacity.
Securing gas supplies at a price affordable to mainland consumers, he said.
'Some of the gas will come from Australia ... (at least) we hope so,' he said after CNOOC`s annual shareholders` meeting. 'The rest we can source from many places in the world.'
The facility is expected to receive the first shipment of LNG soon from the North West Shelf gas project, located offshore West Australia, Fu said.
'Supply for deliveries next year and 2008 has pretty much all been committed to customers,' the South China Morning Post cited n LNG sales manager at China National as saying. 'The Japanese buyers have been very aggressive in renewing contracts due to reduction in output from Indonesia.'