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Russia & Caspian upstream month in brief: The sanctions spiral accelerates

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Report summary

In the Russia & Caspian Upstream month in brief, we highlight the main stories of the past month, adding our opinion and analysis to keep you informed. The key news include: US sanctions target Nord Stream 2; Rosneft defeats Gazpromneft to win the Erginskoye auction; and ONGC and NC KazMunaiGas spud new Kazakh offshore well. In other news: Kashagan spurs Kazakh liquids to 10% growth in H1 2017; Yamal LNG starts train one commissioning; NOVATEK selects contractors for Arctic LNG-2; Progress awaits on Line D of Turkmenistan-China Gas Pipeline; Schlumberger to acquire 51% of Eurasia Drilling; Nostrum Oil & Gas starts refinancing, as expansion nears; Gazpromneft acquired a 25.02% stake in Eurotek-Yugra from Repsol; NOVATEK expands into small-scale LNG space. For further information on these and any other regional themes, please contact Wood Mackenzie’s Russia and Caspian research teams.

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