Contents tagged with Gazprom
Russia’s natural resource hegemony continues to decline
With the lifting of sanctions against Iran and Tehran’s consequent participation in the global oil market, the price for Russia’s main export commodity—energy sources—continues to decline with no end in sight. With the fourth largest reserves in the world, Iran put its oil on the global market on Monday, contributing to oil prices dropping below $28 per barrel.
What is more, the recent events in the Russian gas supply market exacerbate the situation, as traditional markets for Russian natural …
Construction of the South Stream Pipeline Postponed
The construction of the South Stream Pipeline remains suspended, as reported by Bulgarian National Radio based on Russian sources. Earlier the Standard, a Bulgarian newspaper, stated that the construction of the South Stream Pipeline may resume in the next few weeks. They reported that their sources stated that the delay is due to the deterioration of Russian-Turkish relations and the refusal of the Turkish Stream project which was discussed as an alternative to the South Stream.
On Monday, a …
Yatsenyuk: Ukraine no Longer Purchases Gas from Russia
According to the Prime Minister of Ukraine, Arseniy Yatsenyuk, there are currently about 13 billion m3 of gas in Ukrainian storages.
Ukraine refused further Russian gas supplies, as stated by the head of the Ukrainian Government, Arseniy Yatsenyuk, in the program "10 minutes with the Prime Minister."
"On January 1st, the Russian Federation offered gas at the price of $212 per thousand m3. We do not buy gas from Russia, because we purchase gas from the European Union at a cheaper rate than we …
With no one to sell to, Gazprom cuts natural gas purchases from Turkmenistan
The head of Russian natural gas giant Gazprom, Alexei Miller, recently reported to President Vladimir Putin that his company is able to harvest 617 billion cubic meters of gas annually, but last year it was able to sell only 444 billion, meaning the Public Joint Stock Company has a surplus of 173 billion cubic meters of natural gas.
While western sanctions against Russia do not specifically target hydrocarbons, the conflict in Ukraine has undoubtedly led many western countries to turn to …