Contents tagged with Gazprom

  • Gazprom decided to withdraw from Nord Stream-2 joint venture

    Gazprom, Shell, Uniper and Wintershall, which are all part of a consortium for the construction of Nord Stream 2 have withdrawn their application to create a joint venture. The group had already submitted the application to the Polish antimonopoly agency, as reported in the companies’ statement.

    This decision will not affect the gas pipeline project, the report says. It also will not affect the Nord Stream 2 construction schedule.

    The project will be implemented by a Swiss-registered Nord …

  • Naftogaz believes their chances of beating Gazprom in Stockholm court are high

    Director for Business Development at the national joint-stock company Naftogaz of Ukraine Yuriy Vitrenko stated that Ukraine has a good chance of obtaining a positive decision for their claim against Gazprom in the Stockholm Arbitration Court.

    “In short, we are in the home stretch. Trials will start in the next few months. Our position is very firm, as demonstrated by the fact that, in particular, even Putin had to change his favorite statement about Gazprom: that since 2020 they will not need …

  • Claim of Naftogaz and Gazprom in Stockholm exceeds $65 billion

    The next court hearing is scheduled in autumn.

    The total amount of the claim between the National Joint-Stock Company, Naftogaz of Ukraine, and the Public Joint Stock Company, Gazprom in the Stockholm Arbitrage Court has exceeded 65 billion dollars, as Naftogaz reports on its Facebook page.

    According to the statement, the amount of Naftogaz’s claim on the contracts for the purchase, sale and transit of natural gas amounts to more than 26.6 billion dollars.

    In turn, the amount of the …

  • Transit of Russian gas reached record low

    The head of Naftogaz, Andriy Kobolyev, has reported on the low volumes of Russian gas transit and explained that this a result of the pressure that Moscow is exerting on Kiev. He said this while on air with Channel 5.

    “Transit volumes have continued to decrease and are now at a record low. This is related to the pressure that Russia exerts on Ukraine and Naftogaz. Its goals are to firstly minimize the revenue from this type of business and secondly, I think, it is part of a tactic to promote …

  • Russia's Gazprom is ready to resume talks on the Turkish Stream pipeline

    Russia’s Gazprom is gearing up to resume talks on the adoption of the Turkish Stream gas pipeline project. The topic will also be discussed at the meeting of Russian Minister of Energy Alexander Novak and Turkish Minister of Economy Nihat Zeybekçi, Kommersant reports.

    Zeybekçi is the head of the Turkish delegation that arrived in Moscow to conduct negotiations on resuming economic relations between the two countries. Gazprom deputy chairman Alexander Medvedev reiterated on July 26th that the …

  • Gazprom has provided the Donbas with $718 million in gas

    The head of Gazprom, Alexey Miller, stated at a press conference in Moscow on June 30th that the Russian gas company has supplied the occupied Donbas with $718 million in gas under the contract price initially granted to Naftogaz of Ukraine, Ukrainian news portal UNIAN reports.

    “As for the gas supplies to the Southeast of Ukraine, we have only one contract signed with Ukraine in 2009. The contract defines the entry point for the gas supply to Ukraine, including the entry points in the …

  • Ukraine will not agree to Gazprom's prices

    Naftogaz of Ukraine will not agree to buy gas from Gazprom in the third quarter of 2016 for the price offered by the Russian Energy Minister of $177 per one thousand cubic meters. On Friday, June 10, Director for Business Development at Naftogaz, Yuriy Vitrenko, wrote this on his Facebook page.

    Vitrenko noted that the cost of European gas in July was below $173 per one thousand cubic meters. "All the necessary gas we will buy on the European market. Thankfully we have no problems there now," …

  • Poland will not renew its contract with Gazprom

    Poland has no plans to renew its long-term contract with the Russian Federation for the supply of gas, which expires in 2022. Reuters cites the Commissioner of the Government of Poland on Issues of Gas and Energy Infrastructure, Piotr Naimski.

    According to Naimski, in order to reduce its dependence on Russian gas, Poland constructed the first terminal for transporting liquefied natural gas (LNG) and also plans to construct the pipeline in the North Sea.

    “We will strive for a situation where a …

  • Kiev will not pay Gazprom for gas supplies to separatist republics

    Ukrainian company, Naftogaz, has refused to pay Gazprom for gas delivered to the separatist-controlled territories of Donetsk and Luhansk.

    On the 18th of May, Naftogaz reported that the Russian gas company had demanded a payment of $670 million for gas supplied to the so-called Donetsk People's Republic (DPR) and the Luhansk People's Republic (LPR) from February 2015 to April 2016.

    The report also stated that Naftogaz had not purchased gas from Gazprom since November 2015. Before that, it had …

  • The Baltic States consider the possibility of creating a single gas market

    Energy regulators and politicians in the Baltic States are considering the possibility of creating a single gas market to facilitate mutual trade. It is possible that after laying the gas pipeline between Estonia and Finland, the latter will also join the common market.

    As the Lithuanian Member of the Commission on Prices, Vigantas Vaitkus, informed the news Agency BNS, the negotiations have just begun and they will continue for several years. The Baltic Regional Working Group was formed to …