Contents tagged with Gazprom

  • US Congress prepares to deal new blow to Russian economy

    The lull in sanctions which Russia enjoyed during US Congress’s interim elections and government shutdown is now coming to an end.

    After the four-month break, Congress is once again discussing new measures that can be taken against Russia. The possibilities range from a ban on investments in Russian government debt to a complete disconnection of Russian government banks from the global dollar transaction system.

    Congress’s first hearings following its elections will be held on 12 February in …

  • China refuses to finance $14 billion Gazprom megaproject

    Russian officials’ attempts to get through to Chinese investors in order to enlist their support in developing the economy in the East and overcoming western sanctions are continuing to fail for the fifth consecutive year. 

    The new negotiations to secure a Chinese loan for the construction of Russia’s largest gas processing plant in the Amur province have ended with yet another disappointment for the Russians. 

    Gazprom had hoped to pay for the Amur gas processing plant, which is scheduled to …

  • Ukraine prepared to extend gas transit agreement with Russia under European rules

    Andriy Kobolyev, CEO of Ukraine’s national oil and gas company Naftogaz, said in a press conference after trilateral negotiations in Brussels that the company is willing to extend the current agreements to transit Russian gas through Ukraine after 2019 if they comply with European regulations.

    “Naftogaz is willing to consider future agreements only if they completely abide by the European legislation that has been implemented in Ukraine,” Kobolyev said.

    He added that Naftogaz is open to all …

  • Ukraine to reduce its claim against Russia's Gazprom if new transit contract is signed

    Ukraine’s state-owned oil and gas company Naftogaz will reduce the amount of the new claim against Gazprom from $12 billion to $2 billion if Russian gas monopolist signs a new transit contract, stated Naftogaz CEO Yuriy Vitrenko in Brussels, Ukrinform reports.

    "Indeed, the sum of new claims is about 12 billion dollars. Part of these claims is because we do not expect gas transit through Ukrainian territory after 2019... The chances of winning are very high. We have already proven that when we …

  • Gazprom offers Ukraine to extend gas contracts after 2019 without further consultations

    The Ukrainian Minister of Foreign Affairs Pavlo Klimkin, after the completion of negotiations between Ukraine, the EU, and Russia in Brussels, stated that the Russian company Gazprom is ready to extend gas contracts after 2019 without even conducting expert consultations.

    “Mr. Miller [ the Head of Gazprom] emphasized three times that they are ready to continue existing contracts. These contracts are probably a source of joy for them. At the same time, he said that these contracts could be …

  • Naftogaz CEO: Gazprom’s assets seized in three countries

    In an interview with the Ukrainian magazine Novoe Vremya, Naftogaz CEO Andriy Kobolyev discussed the progress that has been made in the implementation of the Stockholm Arbitration Institute’s ruling that awarded Naftogaz $2.56 billion.

    “Gazprom has tens of billions of dollars in property abroad. We have already seized it to an amount which exceeds the amount of Gazprom’s debt to us,” UNIAN cites Kobolyev as saying.

    Kobolyev explained that in the Netherlands, Switzerland and the UK, Gazprom’s …

  • Kyiv: there will be no direct negotiations with Russia on gas transit

    Naftogaz CEO Andriy Kobolyev announced that in 2019, the Ukrainian company would continue negotiations on the transit of Russian gas through Ukraine. He stressed that the format of the negotiations will remain trilateral and not directly with Gazprom.

    "We rely on European law and Ukraine's interests and will start negotiations with Gazprom on further transit solely in the trilateral format with the participation of the European Commission,” Kobolev wrote on Facebook .

    In late December, …

  • Ukraine reduced gas imports by 25% in 2018

    Ukraine imported 10.59 million cubic meters of gas in 2018. This is 24.6% or 3.46 billion cubic meters less than 2017 when gas supplies exceeded 14 billion cubic meters, according to the data of gas transmission company, Ukrtransgaz. 

    In 2018, gas was imported solely from Europe because gas supplies from Russia had been suspended since November 25, 2015 when Naftogaz found Russian Gazprom’s prices unreasonably high. In 2018 Ukraine imported 6.4 billion cubic meters of gas from Slovakia, 3.4 …

  • Russia raises gas price for Armenia by 10%

    From January 1, 2019, the price of Russian gas for Armenia will be raised to $165 per thousand cubic meters, the press service of Gazprom reported on Monday. 

    The new price is 10% higher than the price established by the agreement of April 2016. 

    “In accordance with the supplementary agreement signed to the contract between Gazprom Export LLC and Gazprom Armenia CJSC, determining the price of gas supplies to Armenia in 2019, the price of Russian gas will be $165 per one thousand cubic meters …

  • Gazprom CEO: Nord Stream 2 will be operational by January 2020

    Gazprom CEO Alexey Miller is convinced that the Nord Stream 2 pipeline will start supplying Europe with gas by January 1, 2020, Interfax reports. 

    “We are working according to the plans that were approved from the very beginning. The planned start for gas shipments is January 1, 2020,” Miller said. 

    Rosneft CEO Igor Sechin also said that he is prepared to work no matter how the situation develops with the US. 

    “We are working constantly under these circumstances. Our job is risk management,” …