Contents tagged with Naftogaz

  • Gazprom offers to settle $2.6 billion dispute with Naftogaz of Ukraine

    The Russian state-controlled gas monopoly Gazprom has offered to sign a settlement agreement with the Ukrainian oil and gas company Naftogaz in order to resolve a long-standing dispute, Russian Energy Minister Alexander Novak told the press.

    In February 2018, the Stockholm Arbitration Institute ordered Gazprom to pay Naftogaz $4.63 billion for failing to supply the volumes of gas stipulated in their transit agreement. Since previously the arbitrators had ordered Kyiv to pay Gazprom $2 billion …

  • Gazprom capitulates in gas dispute with Ukraine

    A gas dispute between Russia and Ukraine, which began with a record drop in prices in 2013 and translated into a reduction and later suspension of supply, will apparently finally end with Gazprom capitulating.

    The Russian gas monopoly is offering to negotiate a deal to resume the direct gas supply to Kyiv, and to extend the contract for transit to Europe that expires in 2019, said Gazprom CEO Alexey Miller.

    The gas prices will be lower, he promised: the cost of gas for the end consumer will …

  • Zelensky and Naftogaz CEO discuss LNG deal with US energy secretary

    Ukrainian President Volodymyr Zelensky and Naftogaz CEO Andriy Kobolyev met on 20 May with US Energy Secretary Rick Perry to discuss possible shipments of American Liquefied Natural Gas (LNG) to Ukraine, Naftogaz announced on its official website.

    “During the meeting, special attention was devoted to ways to prepare Ukraine to pass the next autumn-winter heating season, and to finance and develop adequate gas reserves in underground reservoirs. Another topic of discussion was the project to …

  • Ukraine meets with US officials to discuss LNG shipments

    Ukrainian Deputy Foreign Minister Olena Zerkal and representatives of Naftogaz of Ukraine have attended a number of official meetings in the US to discuss the purchase of American liquefied natural gas (LNG), how to oppose the Nord Stream 2 gas pipeline project, and concessions for the Ukrainian gas transport system, Naftogaz CEO Andriy Kobolyev announced in a post on Facebook.

    “At meetings with the US Department of State and Department of Energy, we spoke, among other things, about how to …

  • Ukraine negotiates gas supplies from the United States

    The head of the Ukrainian state energy company Naftogaz, Andriy Kobolyev, in an interview with the Voice of America, announced that Naftogaz is negotiating with the United States the supply of the American gas to Ukraine.

     According to him, the parties are looking "very closely" at this issue. “This is not a final decision yet, but there is interest from both sides,” said Kobolyev and expressed hope that “this interest will be transformed into concrete gas flows.”

    On May 1, the head of …

  • Naftogaz attempts to seizes additional Gazprom assets in Luxembourg

    The Russian gas monopoly Gazprom has disclosed new details on the attempts made by Naftogaz of Ukraine to seize its assets in order to implement the ruling of the Stockholm Arbitration Institute, which ordered Gazprom to pay the Ukrainian company more than $2.5 billion in compensation, Radio Liberty reports.

    According to Gazprom’s latest financial report, on 15 February, Naftogaz notified the Gazprom subsidiary “Gaz Capital” and the largest banks in Luxembourg that all of Gazprom’s assets and …

  • Ukraine's Naftogaz to offer Gazprom a new transit agreement for ten years

    During the press conference of the Ukrainian national gas company Naftogaz, the executive director of the Ukrainian company, Yuriy Vitrenko, announced that in the upcoming negotiations Naftogaz plans to offer Gazprom to book 60 billion cubic meters of transit capacity of the Ukraine gas transmission system for a period of ten years. This press service was broadcast on the official Naftogaz account on Facebook.

    He noted that the company would provide a capacity of 90 billion cubic meters per …

  • 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 …

  • Kremlin claims that gas transit through Ukraine is unprofitable

    The Minister of Energy Alexander Novak, in an interview with, stated that gas transit through Ukraine to Europe costs Russia 2-2.5 times more than other routes, including Yamal-Europe and Nord Stream-1. 

    “This is primarily since the Ukrainian gas transport system was created about 50 years ago, the minister explained. Back then the technology was still old, with high depreciation of fixed assets, and large losses during gas transport.” 

    According to him, the implementation of new …

  • 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 …