Contents tagged with Gazprom
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Switzerland seizes Gazprom’s revenue from Nord Stream
The gas dispute with Ukraine may cost Gazprom its profits from pumping gas through the Nord Stream pipeline, which has been operational since 2012, and through which 61 billion cubic meters of gas were pumped to Europe last year, a third of Russia’s entire gas export.
A Swiss court has seized payments made by the pipeline operator, Swiss-registered Nord Stream AG, to Gazprom, the operator’s 51% shareholder.
The seizure was imposed as part of the interim measures for the ruling by the …
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Naftogaz claims Gazprom owes Ukraine more than $12 billion
Naftogaz of Ukraine’s new claims against Russian Gazprom under the Stockholm arbitration increased within four months, from $11.6 billion to over $12 billion, reported Interfax, citing Naftogaz CEO Yuriy Vitrenko.
“We shall recover all the money from Gazprom according to the previous decisions of the arbitration court. We have already recovered $2.1 billion in gas and $18 million in cash. We will also collect the remaining $2.6 billion,” emphasized Vitrenko.
On June 6, 2018, Naftogaz filed a …
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Ukrainian Naftogaz recovered first millions from Gazprom
Naftogaz is holding $9 million of the debt owed by Russian company Gazprom, based on the decision of the Stockholm arbitration, reported the press service for Naftogaz.
The company reminded that the Stockholm arbitration formula for gas pricing was changed, which resulted in lower service rates and general transit cost.
Naftogaz was clarified that Gazprom deliberately refuses to implement the decision of the arbitration and continues to pay the price set by Naftogaz.
“Thus, Naftogaz has …
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Russia's Gazprom announces plans to build new pipelines to Europe
Even before completing the Nord Stream 2 pipeline and disassembling the redundant gas corridor for South Stream, Gazprom is dreaming of new multi-billion dollar projects.
The company plans to build new gas pipelines to the EU in order to meet the increased demand for Russian gas, said Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee, at the Russian Energy Week forum on Wednesday.
“New transport routes need to be created,” he emphasized, adding that this is supposedly “ …
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Naftogaz: Gazprom owes Ukraine more than $2.6 billion
The fine for the Russian Gazprom for failure to comply to the Stockholm decision in the case against Naftogaz Ukraine, has reached $110 million, stated at a press conference the Director for Business Development at the National joint-stock company Naftogaz of Ukraine Yuriy Vitrenko, reports Ukrinform.
“By our calculations, the amount for compensation that Gazprom needs to pay us, already exceeds $110 million,” stated Vitrenko. Therefore, Gazprom must pay Ukraine more than $2.6 billion," …
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Gazprom loses appeal in court case with Ukraine's Naftogaz
The Svea Court of Appeal has re-authorized the seizure of Gazprom’s assets in order to collect $2.6 billion in favor of Naftogaz Ukraine.
On Thursday, the Swedish court removed the temporary suspension of the fine enforcement measures, which had been introduced in June at Gazprom’s request, Reuters reports.
The Russian gas company asked to have the original ruling of the Stockholm Arbitration Institute revoked on the basis of external interference in the process. Citing a “world renowned …
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Russia's gas conglomerate Gazprom removes the list of subsidiaries from its website
The list of subsidiaries and affiliates disappeared from the website of Gazprom, reported Deutsche Welle.
Previously, the list contained 161 companies, including defunct companies and technical structures. At the moment, the page of subsidiaries reports that “the list of organizations controlled by Gazprom JCS is published in the Quarterly Report”.
In February 2018, the Stockholm Arbitration Court obliged Gazprom to pay the Ukrainian company Naftogaz US $4.63 billion for the pumping of 110 …
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Media: Merkel will visit Kyiv to force Ukraine’s reconciliation with Russia's Gazprom
The key topic of the German Chancellor Angela Merkel’s visit to Kyiv, scheduled for early November, is the continuation of the Russian gas transit through Ukraine after the Nord Stream-2 gas pipeline construction is completed, writes the Polish edition of Gazeta Wyborcza.
The publication notes that many European experts and politicians have criticized the intention to implement the Nord Stream-2 project, which will only strengthen the EU's dependence on Russian gas. After the launch of the new …
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Ukrainian President confident Russia will pay all damages for Ukraine's gas contract losses
Ukrainian President Petro Poroshenko expressed confidence that Russia would pay for all damages regarding the gas contracts. According to him, Stockholm Arbitration Court estimated Kyiv’s losses from the termination of contracts at $4.6 billion, 112 Ukraine channel reports.
Poroshenko also recalled that several days ago passed the thousandth day that Ukrainians have been living without Russian gas because of the embargo. “The Russians will not bring us to our knees with its gas ligature and …
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Ukraine marks 1000 days without Russian gas
Thursday, August 23, marks 1000 days since Ukraine imported the last batch of Russian gas, reports Ukrtransgaz, Ukrainian operator of the gas transit system.
In late November 2015, Ukraine refused to purchase natural gas from Gazprom, as the Ukrainian gas company, Naftogaz considered this price too inflated. Import of gas is now carried out via western border.
The rejection of Russian gas allowed Ukraine to begin reforming the gas market and reforming the corporate governance of Naftogaz. For …