Contents tagged with Russian gas

  • Nord Stream pipeline partner: American sanctions will have a major impact on the financing of the project

    New US sanctions against Moscow will impact the financing for the Nord Stream 2 pippeline project, as expressed by the President of the German-Russian Foreign Trade Chamber and the CEO of Austrian energy company, OMV Rainer Seele, DW informs.

    "It will not be possible to organize project financing involving US banks, we will have to work with Asian banks,” he stated.

    According to Seele, the assessment is being conducted to determine the consequences of the new US sanctions on the Nord Stream …

  • Gazprom to increase gas transit through Ukraine

    Gazprom has applied for an increase of gas transit through Ukraine to 315 million cubic meters per day, according to the press service of NJSC Naftogaz of Ukraine.

    Gazprom’s daily application for increase has grown by 47 million cubic meters in the last week. Naftogaz is ready to ensure the implementation of the enlarged applications in full amount, although such significant fluctuations in the volumes of transit are not specified in the contract terms between Naftogaz and Gazprom.

    Naftogaz …

  • Poland plans to abandon Russian gas in five years

    In five years Poland plans to significantly cut natural gas supplies from Russia or even completely abandon them, as stated by Polish Foreign Minister, Witold Waszczykowski.

    The current contract for the supply of Russian gas to Poland is in effect until January 1, 2020. The Foreign Minister said that it can be extended only if Russia offers a price lower than the current one.

    "Maybe, yes. But only if Russia offers a much lower price than it is today," said Waszczykowski.He noted that Poland …

  • Bulgaria declares its readiness to receive gas from TurkStream

    In the event that Russia halts gas supplies through Ukraine, Bulgaria is ready to accept all of the gas intended for Europe through a second TurkStream pipeline,  stated by the country's Prime Minister Boyko Borisov. “If Russia stops pumping 3 billion cubic meters through Ukraine, then we will buy this amount through TurkStream.”

    The Bulgarian Prime Minister noted that a few weeks ago he signed an agreement for the supply of 15.7 billion cubic meters of gas. “And tomorrow we will sign a …

  • Poland to fine Russia for poor quality of the supplied gas

    Poland will impose a fine on Russia for supplying substandard gas, which Warsaw stopped taking from the Yamal gas pipeline for its own needs as of June 21st, as stated by the chairman of the Polish oil and gas company, PGNiG, Piotr Wozniak, Ukrinform reports.

    “As a result, PGNiG will be forced to impose a fine on Gazprom in accordance with the contract,” Wozniak said.

    According to him, if the gas supply to Poland is resumed by June 23rd, this will not affect the 2017 – 2018 heating season. …

  • Poland abandons Russian gas over poor quality

    The Polish company GAZ-System has reported a cutoff of gas from the country's pipeline system originating from the reverse side of the Yamal gas pipeline. According to the company's statement, the reason for refusal of the gas injections is their low quality.

    GAZ-System's official representative, Tomasz Pietrasienski, explained to RIA Novosti that the issue is "about Russian gas" coming through reverse delivery.

    "The gas does not currently meet the quality parameters. The provider of the gas …

  • Russia's gas export revenues fell by 31 percent

    Revenue from Russian gas exports in January-June 2016 amounted to 14.975 billion dollars, which is 31.6% less than in the same period of 2015 as indicated in the data from the Russian Federal Customs Service, reports Prime business news outlet.

    In January-June of 2016, Russia exported 95.4 billion cubic meters of gas (a 6.95% growth in comparison with January-June 2015), including the far abroad countries - 78.3 billion cubic meters (14.6% growth) and the CIS (former Soviet Union) countries - 1 …

  • Cost of Transit of Russian Gas through Ukraine up nearly 50 Percent in 2016

    Russia currently pays $4.50 per thousand cubic meters of gas to be transported over a distance of 100 km through the Ukrainian gas transit network, said the Minister of Energy and Coal Industry of Ukraine Volodymyr Demchishin, at a recent press conference.

    According to Demchishin, the tariff for the transit of Russian gas has increased by approximately 50% in 2016, as reported by a Gordon correspondent.

    He explained that the increase in the tariff is associated with a new pricing structure …