Russia's Involvement in Venezuela Is Troublesome for the West

The U.S. Energy Information Administration (EIA) "projects that natural gas consumption in Asia will continue to outpace supply."  With the future growth of natural gas consumption concentrated in Asia, the EIA "expects "non-OECD Asia to consume 120 billion cubic feet per day (Bcf/d) by 2050, outpacing regional production by 50 Bcf/d."  China's natural gas consumption will "triple between 2018–2050."  Most long-term natural gas infrastructure, global liquid natural gas (LNG) terminal(s) import and export, and demand projections are based on Asian growth. Late October reporting in Russian media confirmed that Russian energy conglomerate Rosneft has plans to consolidate Venezuela's National Oil Company PDVSA (Petroleos de Venezuela) under Rosneft's corporate structure in exchange for debt relief.  This counters U.S., Canadian, and Mexican oil and natural gas firms from satisfying natural gas...(Read Full Article)
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