Contents tagged with Gazprom
Gas prices in Europe, after a month of respite, are soaring again. On Thursday, the cost of gas futures on the London ICE exchange exceeded $ 500 per thousand cubic meters amid growing demand, a shortage of LNG supplies and Gazprom's refusal to increase transit through Ukraine.
Contracts for August, pegged to the price of gas at the EU's largest hub TTF, reached $501 per thousand cubic meters (€40.87 per thousand kWh), showing an increase of 3% per day and 10% since the beginning of the week. …
Russian gas giant Gazprom has received a new blow in the European gas market, which left the Russian company without a third of the capacity of its key pipeline to the EU.
The European Court of Justice rejected Germany's appeal and supported Poland's position to limit Gazprom’s allowed capacity of the OPAL gas pipeline, which connects Nord Stream 1 with the gas transmission system of Central and Western Europe by 50%.
"In accordance with the EU treaties, EU energy policy is designed - in the …
The first phase of the Nord Stream-2 pipeline has been completed, announced Russian President Vladimir Putin during a speech at St. Petersburg International Economic Forum.
"I am pleased to report that today, two and a half hours ago, the laying of the pipes of the first line of the Nord Stream-2 gas pipeline was successfully completed . Work on the second line continues. The construction in its entirety, including the maritime section, is finished," Putin said.
Earlier, the Russian Energy …
Russian President Vladimir Putin's spokesman Dmitry Peskov said that Russia does not intend to stop gas transit to Europe through Ukraine.
"Russia and Ukraine have concluded a gas transit agreement to Europe, this agreement will remain in force for its entire term. But even after the expiration of this agreement, Russia does not intend to abandon Ukrainian transit," Peskov said.
Peskov noted that Putin assumes that in the future the volume of gas supplies to Europe will grow, and Ukrainian …
The permit for the construction of Nord Stream 2 in Germany economic zone in the Baltic Sea has been suspended, reports Interfax citing German Federal Maritime and Hydrographic Agency (BSH).
The permit, which was in effect until the end of May and applies to a 16-kilometer stretch of pipeline under construction, has been suspended due to a lawsuit filed by environmentalists, said a representative of BSH.
In April, Germany's Nature and Biodiversity Conservation Union (NABU) tried to challenge …
U.S. Senators Robert Menendez (New Jersey) and Jeanne Shaheen (from New Hampshire) sent a letter to Secretary of State Antony Blinken calling for accelerated imposition of new sanctions against the Nord Stream 2 pipeline.
"This pipeline must be stopped, and your leadership is required towards that end. We urge that the effort to build strong Nord Stream 2 sanctions packages be accelerated to meet the urgency of the moment," the Senators said in a letter.
On March 18, the U.S. State Department …
Germany's Wintershall Dea no longer plans to provide funding to the Nord Stream 2 project, the company said in a annual report.
"The Group‘s involvement with the Nord Stream 2 project is limited to the provision of loans together with four major European energy companies (ENGIE, OMV, Shell and Uniper). The company‘s loan payments to Nord Stream 2 AG amount to €730 million and were completed prior to the revision of the ‘Countering America‘s Adversaries Through Sanctions Act ‘CAATSA‘ Section 232 …
The German government is considering the possibility of establishing a mechanism which will allow shutting down the Nord Stream-2 gas pipeline if Russia reduces gas transit through Ukraine, reported German newspaper WirtschaftsWoche citing sources.
According to the newspaper, Chancellor Angela Merkel and Foreign Minister Heiko Maas are not considering the full withdrawal from the gas pipeline project.
At the same time, instead of completely stopping the construction, they are considering the …
For the first time, the United States signaled its readiness to start a dialogue on lifting sanctions from Nord Stream 2, provided that Germany prepares a package of proposals, reported the newspaper Handelsblatt, citing sources in the American administration." The German side should put a package of solutions on the negotiating table," the source of the newspaper said. "Otherwise, we will not be able to solve the Nord Stream 2 problem”.
The Americans demand establishing a mechanism that will …
The U.S. continues to increase pressure on the Nord Stream 2 project, which has already been left without key European participants fearing U.S. sanctions.
Following the expansion of restrictions on insurance, engineering and certification companies, the U.S. authorities are preparing a new sanctions package that will hit the only pipelaying vessel available to Gazprom - the Fortuna barge, Handelsblatt reports, citing its sources.
According to Handelsblatt, sanctions will be imposed on …