Russia Continues Triggering Domestic Know-how, Cooperation with Turkey

While Novatek reports a 56% fall in net profit in 2014 and Moscow agrees on a 10.25% discount for its gas to Turkey, Russian companies further indicate their resolve to focus on domestic know-how to strengthen the oil and gas industry. 

The last example comes from Sakhalin Energy, which signed a strategic partnership agreement with Sakhalin State University.

‘The agreement is focused on joint scientific-research activities, arrangement and conduct of scientific conferences, publishing and application of education materials developed by teachers of the university and Sakhalin Energy specialists in the education process’ reads the note released on Thursday.

The two entities already cooperated on the Sakhalin-2 project. 

Meanwhile, Russian companies keep reporting poor results on a wear rouble, which depreciated by 72% against the dollar in 2014.

At the same time, Moscow continues to make concession to Ankara. Turkey and Russia did indeed agree on a 10.25% discount on gas deliveries. The discount, significant increased from the previously agreed 6%, is lower than the 15% envisaged by Turkish Minister of Energy and Natural Resources Taner Yildiz in 2014.