Contents tagged with Gazprom

  • Russia’s Gazprom begins supplying gas to Hungary bypassing Ukraine

    On October 1, the Russian gas giant Gazprom began supplying gas to Hungary under a long-term contract concluded on September 27 through the Balkan Stream gas pipeline (an extension of the Turkish Stream) and the pipelines of South-Eastern Europe.

    Gazprom previously reported that two contracts had been concluded with Hungary for up to 4.5 billion cubic meters of gas per year over 15 years period.

    In 2020, Gazprom supplied 8.6 billion cubic meters of gas to Hungary.

    Ukraine expressed …

  • Poland to take part in Nord Stream 2 certification

    The Polish oil and gas company PGNiG received the right to participate in the certification of the Nord Stream 2 gas pipeline, the company said in a statement.

    "The German Federal Network Agency (Bundesnetzagentur, BNetzA) has granted Polskie Górnictwo Naftowe i Gazownictwo SA and its German subsidiary - PGNiG Supply & Trading GmbH participation in the certification proceedings for Nord Stream 2," the statement reads.

    The Polish side argues that Nord Stream 2 does not meet the formal …

  • European gas prices soar after Russia’s Gazprom reduces deliveries through Poland

    The European gas market after a short respite has soared again. On Monday, gas futures linked to spot prices at the Dutch TTF hub jumped by 13% and exceeded $ 900 per thousand cubic meters after the Russian gas giant Gazprom decided to drastically reduce gas deliveries through Poland and refused to book additional transit capacity through Ukraine.

    At the last gas transit auction of the European GSA Platform, Gazprom booked only 31.4 million cubic meters per day through the Polish branch of the …

  • Russia’s Gazprom claims Nord Stream 2 construction has been completed

    According to the press service of Gazprom, by the chairman of the company's board Alexei Miller announced at the morning operational meeting that the construction of the Nord Stream 2 gas pipeline has been fully completed.

    According to Miller, the construction that lasted three years was completed on Friday, September 10, at 8.45 Moscow time.

    According to Bloomberg, Gazprom plans to start supplying gas through the first line of the pipeline from October 1, and through both lines - from …

  • Russian Foreign Minister: Nord Stream 2 will be completed in a few days

    Russian Foreign Minister Sergey Lavrov said that the Nord Stream 2 gas pipeline will start working in a few days.

    "It will be completed in a few days and will start working," Interfax quoted Lavrov as saying.

    Lavrov said that the United States is obsessed with the idea of blocking the project but will not be able to stop it.

    "The Biden administration has not changed its position. They are still against this project, but they understand that it cannot be stopped. But if you understand that …

  • European Commission: Gazprom must sell Nord Stream 2

    Gazprom must sell the Nord Stream 2 gas pipeline to comply with European competition standards. This view is shared by the European Commission, reports Frankfurter Allgemeine Zeitung, citing officials in Brussels.

    The EU Third Energy Package prohibits the same company from being both a gas supplier and the owner of the pipeline. In the case of Nord Stream 2, Russian gas giant Gazprom may not be able to use more than half of the gas pipeline's capacity.

    Having lost the court appeal to exclude …

  • Gas prices in Europe tumble as Russia’s Gazprom promises to launch Nord Stream 2 this year

    The European gas prices, which have soared by 200% since the beginning of the year, have tumbled.

    Gas futures on the ICE exchange fell by almost 10% after the Russian gas giant Gazprom announced the launch of Nord Stream-2 this year.

    September contracts pegged to spot quotes of the EU's largest gas hub TTF in the Netherlands are trading at around $504.8 per thousand cubic meters, although at the beginning of the week they were at more than $ 570.

    At the moment, the quotes fell below of $500, …

  • Russian gas giant Gazprom drastically reduces transit through Ukraine as gas prices in Europe reach record highs

    Gas price in Europe continues to reach new highs and is rapidly approaching $600 per thousand cubic meters.

    On Monday, October gas futures on the ICE exchange jumped by 8% and reached $588 per thousand cubic meters.

    Contracts pegged to the quotes of the EU's largest gas hub, TTF, are trading at around $584.5 per thousand cubic meters, up 6.7% for the day, 12% since the beginning of August and 195% since the beginning of the year.

    Amid the new rally, Ukraine put up for action additional …

  • Gas prices soaring in Europe as Russia's Gazprom refuses to increase transit through Ukraine

    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. …

  • Poland wins EU court appeal to limit Gazprom’s use of OPAL gas pipeline

    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 …