Contents tagged with Gazprom
-
Gazprom loses appeal in case against Ukraine's Naftogaz
Amsterdam Court of Appeal rejected Gazprom's complaint concerning the jurisdiction of the court, thereby upholding its authority in the case of recognition and enforcement of the decision of the Stockholm Arbitration in the Netherlands.
"Such a decision was issued by the court on July 8. Moreover, on the same day, the Luxembourg district court ruled in Naftogaz favor. It declined Gazprom's objection, thereby confirming legality of seizure of Russian company’s property in Luxembourg’s territory …
-
Denmark gives go ahead to Baltic Pipe construction to Poland
The Baltic Pipe, a project to supply Norwegian gas to Poland, has received its first approval from the Danish government, while Copenhagen is delaying giving consent to the construction of the Nord Stream 2 gas pipeline. The Danish Environmental Protection Agency announced on its website that it has authorized the construction of the Baltic Pipe.
The Danish gas transit operator Energinet now needs to obtain authorization from the 13 municipalities whose territory the land-based portion of the …
-
Gazprom’s export revenue plummets by nearly 40%
Gazprom is faced with a sharp decline in revenue from selling gas on foreign markets, according to statistics from the Bank of Russia on the balance of payments for the second quarter, reports finanz.ru.
Between April and June, the gas trade brought Russia only $8.7 billion in foreign currency earnings.
Compared to the first quarter ($14.1 billion), the influx of “gas dollars” has fallen by 38.2% (20% in annual terms) – a two-year low.
In the last decade, Gazprom has only earned less on one …
-
OSCE passes resolution against Nord Stream 2
The Political Affairs and Security Committee of the Organization for Security and Cooperation in Europe (OSCE) has voted in favor of a draft resolution on regional energy security directed against Russia’s Nord Stream 2 gas pipeline project, Deutsche Welle reports.
Thanks to the US delegation’s efforts in the OSCE’s Parliamentary Assembly, the resolution mentions Russia’s Nord Stream 2 and Turkish Stream gas pipelines. US congressman Lee Zeldin said that Nord Stream 2 will increase Europe’s …
-
Gazprom withdraws application for Nord Stream 2 route through Denmark
Nord Stream 2 AG, the subsidiary of Russia’s oil giant Gazprom which owns the project, has withdrawn the application to lay the Nord Stream 2 gas pipeline in the territorial waters of Denmark, South of Bornholm island in the Baltic sea, that was submitted in 2017, RBC news agency reports. Two other applications with proposals to place a gas pipeline North-West or South-East of the island, outside Danish territorial waters, remain in force.
"This step was necessary, because more than two years …
-
Poland wants to connect gas pipeline to Ukrainian gas transportation system
The representative of the Polish government for Strategic Energy Infrastructure Peter Naimsky said that Poland is ready to launch the pipeline with a volume of two thousand billion cubic meters, which will connect the Polish gas transmission system with the Ukrainian system in Hermanowice.
"We are ready if necessary, to start the pipeline, which will connect the Polish system with the Ukrainian system in Hermanowice. Its capacity is 2 billion cubic meters. It's not much, but in case if …
-
Germany urges the Russia to continue gas transit through Ukraine after 2019
Germany stressed how important it is to maintain gas transit through Ukraine after 2019, when the current contract expires, said a representative of the German government Steffen Seibert at a briefing in Berlin, as reported by Ukrinform.
“From our point of view, it is absolutely necessary for Ukraine to remain a transit state. We demand it. It is in our interests and we insist that transit through the country be possible in the future,” Seibert said.
According to him, Berlin is actively …
-
Ukraine offers Moldova help in bypassing Gazprom and importing gas from the EU
The Ukrainian national oil and gas company Ukrtransgaz sent Moldova a proposal to delay the construction of the Romania-Moldova interconnector, which makes the Moldovan side vulnerable during its next meeting with Gazprom, as stated in Ukrtransgaz’ press release.
It was noted that taking advantage of the Ukrainian gas transmission system would minimize the potential risks associated with possible interruptions in the transit of natural gas from the Russian Federation and guarantee gas …
-
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 …