INSUBCONTINENT EXCLUSIVE:
Gazprom is postponing several major offshore exploration projects in the Arctic, the Interfax news agency reported, citing data from the
state register of geological study of subsoil.The move comes amid record losses, Western sanctions in response to the invasion of Ukraine
and China's refusal to sign a new contract for Russian gas.In the Kara Sea, where Gazprom holds 11 licenses, exploratory well drilling at
the Leningradskoye and Obruchevsky sites has been pushed back by four years, from 2029-2031 to 2033-2035, and from 2029-2032 to 2033-2036,
Drilling at the Nevsky site is now scheduled for 2036 instead of 2032, while the Morskoy site has been removed from the plan entirely.In the
gas production and an estimated 20% of its crude production, according to the International Energy Agency.Gazprom's decision to postpone its
Arctic projects comes amid a sharp deterioration in its financial situation and stalled negotiations with China over the Power of Siberia 2
to 100 billion cubic meters per year
However, despite President Vladimir Putin's regular visits to Beijing, the pipeline has not received approval from Chinese President Xi
1970s.Although Gazprom reported a profit of 1.042 trillion rubles ($11.7 billion) in the first half of 2024, its core gas business remained
in the red, with losses totaling 480 billion rubles ($5.4 billion), or 2.5 billion rubles ($288 million) per day, according to Russian
