Prime Minister Dmitry Medvedev instructed sales representatives
Russia abroad to seek new technologies
Outside the United States and the European Union. “We must turn the
situation with the sanctions to our advantage and find new
growth opportunities. It is a kind of protectionism which
we did we would have never dared to use without being put in a
such a situation, “said Russian Prime Minister Forum
investment of Sochi. He explained, in particular, that one of the axes
development in the context of the sanctions was to articulate
around the creation of domestic technologies, as well as around the
search for alternative suppliers overseas. “I have instructed our
commercial representatives abroad to seek new
of high-tech equipment “ suppliers, added Dmitri
Medvedev. He also believes that Russian companies are able
create technologies on site. For this, Russia will create
including a development fund industry which will
main objective of supporting medium-sized enterprises interested in
pre-bank financing. The government would provide him up to 18
billion rubles (367 million euros). “In all
all difficulties and problems, there is always a window
opportunity, we must seize it “, said Dmitry Medvedev.
Impact of sanctions
The
new sanctions against Russia, imposed by the EU and by
United States on September 14, not only reach more companies
oil Rosneft and Gazprom Neft public, but also
private companies Lukoil and Surgutnefteaz. The Ministry of Finance
American said the ban on the sale of technology and
services applied to projects of deepwater production in
offshore in the Arctic and shale, in Russia and in the waters
Russians, if they show a “potential oil extraction.” The
American and European measures restrict the sale and
re-export of products, services and technologies for oil and
shale companies affected by the sanctions.
“The last train of American sanctions’s main objective is to
show that no company can feel safe. If before, the
restrictions applied only to companies and credit agencies
closely linked to the state, now, private companies are
also under pressure, “ said Anton Soroko, analyst holding
Investment FINAM. He explains that this contradicts some
extent the statements of Western countries, because the penalties are
presented as a weapon against the political position of Russia. In
Accordingly, these measures should exert pressure on the state, not
on private companies, says Soroko.
“LUKOIL
is traditionally considered a private business model
Russian – a large free float, low political activity, much
transparency, no state involvement, etc. “ confirms
the lead analyst Ilya Balakirev UFS IC. He explains that,
Moreover, the company is developing the platform in the Caspian Sea and
announced a series of projects in areas of difficult access
partnership with European companies. “The Company shall,
may waive these projects, but for this large group, it
is only negligible production volumes “ says Balakirev.
Magnitude of impact
Experts believe that the ban on exports of technologies
primarily affect Rosneft which controls 44 trays with
reserves of 42 million tonnes of oil equivalent. The company
already started operation at 23 of these plates. In 2011, Rosneft
signed an agreement with ExxonMobil on the American mining
oil in the Kara Sea and Black Sea. According to the information
Bloomberg, ExxonMobil could now suspend
exploration well Universitetskaya-1 in the Kara Sea. In this
If, under the terms of the agreement, Rosneft will repay the amount
invested by the American company in prospecting (up to 2.5
billion). Moreover, the reserves accumulated deposits
Lukoil discovered in the Caspian Sea amounted to 630 million
tonnes of oil equivalent. In addition, in 2014, the company signed a
agreement with the French Total.
Anton Soroko group recalls
however, that the penalties introduced included a precision
size: they only apply to new contracts and are
not be effective if the agreements have been signed before. Thus, it
believes that we can not say that Russian companies were private
technology: the restrictions do not apply to agreements
concluded before. “Russian oil and gas companies
are a little better than other economic sectors – this is
mainly due to the fact that exports of resources
Russian energy are of great importance for our partners
Westerners. So they do not dare to introduce sanctions
come restrict the current activity of the companies’ says
Anton Soroko.
Read more about the International Investment Forum Sochi
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