Contents tagged with Gazprom

  • Shell to withdraw from Gazprom’s Baltic LNG project

    The British-Dutch company Shell plans to withdraw from the Baltic liquefied natural gas (LNG) project following Gazprom’s decision to integrate it with a gas processing plant in Ust-Luga, announced Shell Russia Chairman Cederic Cremers in a statement.

    “Following Gazprom’s announcement on 29 March regarding the final development concept of Baltic LNG, we have decided to stop our involvement in this project. We have a number of other ongoing projects with Gazprom, including as part of the …

  • Ukraine's Naftogaz to pay 14 million euros to Norwegian lawyers for assistance in lawsuit against Gazprom

    Ukrainian national oil company Naftogaz has signed a contract for legal services in a lawsuit against the Russian gas giant Gazprom. Naftogaz will pay the lawyers of the Norwegian law firm Wikborg Rein Advokatfirma AS 14 million euros, according to Ukrainian Prozorro e-procurement system.

    The cost of the services includes attorneys' fees and the costs of involving witnesses in the court proceeding.

    At the end of January, in Stockholm, the initial hearing in the suit of Naftogaz against the …

  • Head of Naftogaz: Gazprom cancelling gas transit through Ukraine

    Gazprom has started the process of officially notifying the countries bordering Ukraine that the transit of gas through the territory of Ukraine will stop from the beginning of next year, Head of Naftogaz Andriy Kobolyev said in an interview with RBC Ukraine.

    “Gazprom is already officially notifying the countries that border Ukraine or are dependent on our transit that there will be no transit of gas from the beginning of 2020,” Kobolyev said without citing any sources.

    In March, the …

  • Ukrainian Foreign Minister: Russia will try to start a new 'gas war'

    Ukrainian Foreign Minister Pavlo Klimkin expressed confidence that Russia will try to start a new "gas war" after the expiration of the current agreements on gas transit through the territory of Ukraine.

     “I am sure that Russia will try to organize a new “gas war”. The chances are very high. Our partners understand this opportunity and state that we need to prepare for this by increasing the gas reserves in our gas storage facilities. Now both we and Europe are well aware of the likelihood of …

  • Serbia to start construction of the Turkish Stream pipeline through its territory

    The Serbian government made a final decision to start the construction of the gas pipeline that will pass from Bulgaria to Hungary through the territory of the country, stated Minister of Mining and Energy of Serbia Aleksandar Antić, the local Kurir newspaper reported.

    The customer for the construction of the gas pipeline is Gastrans d.o.o. Novi Sad (51% and 49% of which are owned by Gazprom and Serbiagas, respectively). The pipeline will be 400 km long and will have a capacity of 13.88 …

  • Ukraine's Naftogaz starts collecting Gazprom debt in Luxembourg

    One year after its lawsuit victory against Gazprom at the Arbitration Institute in Stockholm, Naftogaz of Ukraine announced on Facebook that it has started collecting its debt from the Russian company in Luxembourg too.

    “Gazprom has to pay us $4.6 billion in compensation according to the transit contract,” the Ukrainian company’s press service stated, noting that it has already received $2.1 billion in gas. “The remaining amount we have been collecting through an enforcement process in several …

  • Russia's Gazprom reshuffles top management after gas theft case

    Three of Gazprom’s high-ranking top managers, including two deputy chairmen of Gazprom’s management committee, lost their posts as a result of the 30 billion rubles worth gas theft case investigation. The ex-senator from Karachay-Cherkessia, Rauf Arashukov, and his father, the twice-convicted advisor to the general director of Gazprom Mezhregiongaz, Raul Arashukov, were implicated in this case. 

    According to Interfax, on Tuesday, the deputy chairman of Gazprom board, Valery Golubev, was …

  • Ukraine sells seized Gazprom assets

    On 29 January, Ukraine sold a 40.2% share in the company Gaztranzit which previously belonged to Gazprom but had been seized when it failed to pay a multi-billion hryvnia fine from Ukraine’s Anti-Monopoly Committee.

    The shares were bought by a closed non-diversified corporate venture investment fund called Goldman at a price of 41.02 million hryvnia ($1.51 million) for 16,650 shares, according to the National Securities and Stock Market Commission of Ukraine.

    The Goldman investment fund was …

  • 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 …