Americans avoid sanctions in Crimea

24 April 2017, 12:44 | Economy
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Oil and gas of Crimea promise too good profits to take into account the sanctions of the West. Most entrepreneurs are ready to listen to Washington politicians, but there are those who put the principles of business freedom above all else. It turned out that in the oil and gas complex of Crimea, companies associated with the US and entered the peninsula market through offshore.

For what is happening in the world in the oil and gas industry, the West is following closely. After all, energy is the basis for all sectors of the economy. Therefore, after the accession of the Crimea to Russia, almost all foreign companies left the peninsula.

The only major operator of the market was "Chernomorneftegaz", owned by the administration of the peninsula. However, the capacity to develop 47 million tons of oil and 165 billion cubic meters. M of gas lurking in the Crimean interior, is not enough. Therefore, it was logical to have the presence of some foreign companies, such as LLC "Krymtekhasnafta".

As it was possible to learn "L! FE", the Cyprus offshore company Hytexplor Houston Overseas Ltd owns 59% of the company, and the rest of 41% of shares is owned by the Crimean Property Ministry.

The Cypriot offshore is owned by two American oilmen - Charles Python and Ronald Cormick, well known in oil and gas circles. The first is known as a geologist, an expert on oil and gas fields. The latter has extensive experience in the development of shale deposits. He still leads the international Eagle Mountain Corporation, in which he owns a quarter of the share capital, and the Texas Shale Oil International.

"Krymtekhasnafta" is conducting a study of the Caralar Square, located in the east of the Crimea. As it was possible to learn in the Crimean Ministry of Natural Resources, the company does not conduct drilling and is engaged in the preparation of project documentation.

Owners of the company attracted Crimea for a long time. The fact that the peninsula has a large oil and gas potential, Kormik claimed back in the 90's. last century. And according to the Ukrainian media, "Krymtekhasnafta" already worked on the peninsula. Then she was engaged in the study and development of Aktash, Priozerny and Moshkarevskoye fields and even led oil production. In her plans there was even the production of liquefied gas, for which connections were established with the Austrian company EuroGas.

However, in the mid-2000s, the activities of oil and gas companies provoked strong protests from local environmentalists, and the activity had to be curtailed.

The company "Krymtezasnafta" was established as a Russian-Canadian company, and Kormik invested in it as a Canadian citizen through the Canadian company Epic Energy. It is known for supplying equipment for wind and solar energy.

According to Davin Berkins, a lawyer of the American company BAKER BOTTS, Canadian sanctions are softer than American ones, in particular, they do not have a ban on investments in Crimean assets. However, he does not rule out that the assets of Cormick and Python, if found in the US, can be frozen.

However, Chris Lafakis, an analyst for the oil and gas industry of American Moody's Analytics, believes that with time the watchfulness of many companies against the Crimea will come to naught and it will be viewed as a promising region for investments. It remains to wait 10-15 years, he says..




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