Latest news with #SergeyTsivilev
See - Sada Elbalad
a day ago
- Business
- See - Sada Elbalad
Russia Announces Readiness to Supply Mexico with LNG
Taarek Refaat As the global energy landscape shifts, Russia has extended a strategic offer to Mexico, presenting an opportunity for the Latin American country to diversify its energy sources and modernize its oil and gas sectors. In a bold move to solidify bilateral ties, Russia has proposed supplying Mexico with liquefied natural gas (LNG) and offering advanced oil extraction technologies to boost the country's energy capabilities. The Russian Ministry of Energy's recent announcement emphasized the country's readiness to support Mexico in overcoming the energy challenges it faces. Russia's Energy Minister, Sergey Tsivilev, stated, 'We are already working with Mexico, and we are prepared to share our advanced LNG technologies, along with supplying gas to support their energy needs.' The proposal underscores Russia's desire to be a key player in Latin America's energy future, positioning itself as a reliable partner for Mexico's growing energy demands. This offer is particularly timely, as Mexico's oil and gas sectors are under pressure from aging infrastructure, declining production rates, and the ongoing need for substantial investment. The Mexican government, seeking to boost its domestic oil output, has struggled to meet its production targets, with state-owned oil company Pemex falling short of the national goal of 1.8 million barrels per day. In addition to LNG, Russia's offer includes the transfer of sophisticated oil extraction technologies tailored to challenging geological conditions. These technologies could be pivotal in addressing some of the systemic issues faced by Pemex, including the need for efficient and sustainable oil recovery methods. Currently, Pemex operates over 30,000 wells, a significant portion of which remain dormant or underperforming due to funding limitations and outdated infrastructure. Despite efforts to rejuvenate dormant wells and enhance output from existing fields, the pace of recovery has been slow. The Russian offer represents a critical opportunity for Mexico to access the technical expertise necessary to increase oil production, improve field recovery rates, and ensure that its energy infrastructure remains competitive. Mexico's reliance on U.S. natural gas imports further complicates its energy security. With 72% of its gas needs met through imports, primarily via pipelines from the United States, Mexico remains highly vulnerable to fluctuations in the geopolitical climate and any disruptions to the supply chain. This dependence has become particularly concerning in light of past political tensions and the potential for future supply interruptions. The 2021 winter storm in Texas, which led to widespread energy disruptions in Mexico, highlighted the precariousness of this dependency. The gas shortages that resulted from the storm caused massive economic losses and widespread power outages, shaking the confidence in Mexico's reliance on U.S. imports. In response, Mexican officials have been accelerating plans to enhance the country's strategic gas storage capacity. The goal is to double storage capabilities by 2025-2026, in order to better insulate the country from any future energy crises. Russia's offer to supply LNG and share expertise in oil extraction presents an opportunity for Mexico to reduce its dependence on U.S. energy imports and diversify its energy sources. By tapping into Russian LNG, Mexico could ensure more stability in its energy supply while gradually shifting away from reliance on U.S. natural gas. This partnership could also provide Mexico with the tools it needs to modernize and expand its oil production, using Russian technologies to unlock reserves that have long been stagnant. For Mexico, this cooperation with Russia aligns with the broader vision of bolstering national energy security and infrastructure while fostering stronger ties with one of the world's major energy powers. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
Russia Today
4 days ago
- Politics
- Russia Today
Nord Stream sabotage underscores need for fair energy transition
The world is witnessing the emergence of an entirely new energy order, Russian Energy Minister Sergey Tsivilev said on Thursday. Speaking at a session during the 28th annual St. Petersburg International Economic Forum (SPIEF 2025), Tsivilev emphasized that the entire chain—from the production of primary energy to its conversion into economic output—is undergoing fundamental changes driven by breakthrough technologies and new regulatory frameworks. The panel, titled 'Russia and International Energy Justice: Role and Global Challenges,' featured Russian Deputy Foreign Minister Aleksander Pankin, Tanzanian Deputy Prime Minister Doto Mashaka Biteko, Pakistani Petroleum Minister Ali Pervaiz Malik, and the Executive Chairman of the African Energy Chamber, NJ Ayuk. Tsivilev noted that many currently view global energy transition simply as decarbonization and the development of renewable energy sources. He questioned this, stating that 'energy transition should reflect the unique conditions of each country, ensuring energy security and the technical and financial accessibility of energy.' 'Electricity must be delivered to every home and every industrial enterprise at a price they can afford,' the minister said, highlighting the importance of environmentally friendly methods of energy production. Highlighting the importance of a 'just' energy transition, Tsivilev cited the Nord Stream gas pipeline—built between Russia and Europe as the cheapest method of delivering affordable Russian gas that supported rapid industrial development. However, he added, the pipeline was blown up to prevent cheap energy from reaching the region. The minister also criticized the 'forcing [of] decarbonization and green agenda on all countries' as a prime example of undermining energy security. He referenced a major power blackout that affected the entire Iberian Peninsula in Europe, attributing it to excessive reliance on unreliable energy sources such as solar and wind power. In conclusion, Tsivilev stressed that the approaches currently adopted will shape the future of the next generations, as well as define what the world will look like amid the colossal growth in energy demand.
Roya News
25-04-2025
- Business
- Roya News
Surge in trade expected between Russia, Iran
Russia and Iran on Friday projected a sharp increase in bilateral trade with the upcoming implementation of a free trade agreement between the two allied nations, expected to take effect on May 15. Russian Energy Minister Sergey Tsivilev, speaking at the conclusion of a Russian-Iranian intergovernmental meeting on trade cooperation, said the agreement 'opens numerous avenues for cooperation… and offers significant opportunities for trade between our countries.' The deal, part of a broader strategic treaty signed in January and ratified by Russia in early April, is expected to multiply trade volume 'several times over,' according to Iranian Oil Minister Mohsen Paknejad. Tsivilev noted that trade between the two countries reached USD 4.8 billion in 2024, but stressed that 'our trade potential is far greater.' Paknejad echoed the sentiment, saying, 'The current level of trade remains far below the targets set and the economic capacities of both Russia and Iran.' He added, 'The relationship between Iran and Russia holds major importance on the international stage.' In recent years, ties between Moscow and Tehran, both under heavy international sanctions, have rapidly deepened. Together with China and North Korea, Russia and Iran are seeking to forge a counterweight to Western influence, forming close alliances, especially in military cooperation, and supporting each other on various international issues. Paknejad said the Moscow meeting also covered discussions about extending the presence of Russian companies in Iranian oil and gas fields and potentially routing Russian energy supplies through Iranian territory. Other topics on the agenda included cooperation in the field of civilian nuclear energy and the construction of additional nuclear power facilities, Paknejad said, without providing further details. Western countries, led by the United States, have long suspected Iran of seeking to develop nuclear weapons — accusations Tehran denies, maintaining its nuclear program is strictly for peaceful purposes. The Kremlin has repeatedly expressed its willingness to do 'everything it can' to help find a diplomatic resolution to the Iranian nuclear issue, which remains under negotiation between Tehran and Washington with Omani mediation.
LBCI
26-02-2025
- Politics
- LBCI
Moscow and Baghdad discuss participation in Nasiriyah oil field project in Iraq
Russian news agency TASS reported, citing the Russian Ministry of Energy, that Moscow and Baghdad discussed the terms of participation in the Nasiriyah oil field project in Iraq without providing further details. The ministry added that Russian Energy Minister Sergey Tsivilev is scheduled to visit Iraq on Wednesday. Reuters
