Contents tagged with Gazprom

  • Gazprom withdraws money from Ukraine

    PJSC Gaztransit, partly owned by the Russian monopoly Gazprom will pay its shareholders 209 million hryvnia, equivalent to 7.9 million USD, in dividends. This was reported by the company in the information disclosure system of the National Securities and Stock Market Commission, Interfax-Ukraine reports.

    Gaztransit shareholders made the decision at a meeting on April 28.

    On April 11, 2017, the Anti-Monopoly Committee of Ukraine or AMCU filed a statement with the State Executive Service about …

  • Putin: Gazprom has 'no real cash flow'

    The final decision on the exact amount of Gazprom's profit share that will be spent on dividends has not yet been made, as stated by Russian President Vladimir Putin on May 15, responding to a question at a press conference in Beijing. The President noted that Gazprom "has no real cash flow."

    The Head of State noted that he had discussed this issue with Prime Minister Dmitry Medvedev before his departure for China and that the decision would take into account the fact that a significant part …

  • Russian oil company Gazprom starts construction of pipeline to Turkey

    Construction of the TurkStream gas pipeline has begun in the Black Sea near the Russian coast, reports Interfax, citing a statement from Gazprom.

    The pipeline is being laid by Allseas’ ship Audacia, which is contracted to lay both legs of the offshore gas pipeline. Audacia will subsequently pull the pipes from the shore through microtunnels.

    In the deeper parts of the Black Sea, the pipelaying vessel Pioneering Spirit will lay the TurkStream pipeline.

    “The project is implemented strictly …

  • Naftogaz intends to dramatically reduce the tariff for Russian gas transit beginning in 2020

    NJSC Naftogaz of Ukraine plans to significantly reduce tariffs on natural gas transit after the expiration of the contract with the Russian company, Gazprom, in 2019, as stated by the Group Chief Commercial Officer of Naftogaz, Yuriy Vitrenko, in an interview with the DPA news agency which was published on Monday, May 1st, Deutsche Welle reported.

    "Starting in 2020, the tariffs will reduce to nearly one tenth [of the current], and this will make transit through the Ukrainian gas transportation …

  • The Estonian government will send the European Commission a proposal to fine Gazprom

    The Estonian government had a meeting on Thursday and decided to invite the European Commission to fine PJSC Gazprom for abusing the monopoly position in the gas market.

    “Considering the scale of the violation, Estonia believes that the antimonopoly investigation against Gazprom should be completed in a way that ensures the cessation of abuse of the monopoly position, followed by a fine. According to Estonia, in this case, the taking of obligations by Gazprom is not proportional to the size of …

  • Georgia refuses to purchase gas from Russia's Gazprom

    Georgia refused to purchase Russian gas, choosing instead to buy from Azerbaijan. According to the 2017 forecast balance, starting from April the country will make no more purchases from Gazprom, RIA Novosti reported.

    During the first three months of 2017, Georgia received 100 million cubic meters of gas from Russia, writes Novosti-Georgia. Starting from April, the government plans to fully provide the population and commercial sector with gas supplies from Azerbaijan. The deliveries will be …

  • Italian investors want to invest $2 billion in new gas transport company in Ukraine

    The national company Naftogaz Ukraine is planning to hold negotiations with potential investors to create a public company “Ukraine Main Gas Pipelines” in the next three months, ZN.UA reports.

    The article notes that the Italian company Snam, which is interested in importing Russian gas, is among the most realistic potential investors.

    “According to ZN.UA’s information, the Slovaks are also interested in this. But the Italian company Snam is prepared to invest $2 billion in the Ukrainian gas …

  • Court to force Gazprom to pay the 36 million euros it owes Lithuania

    The Russian company, Gazprom, did not pay a 36 million euro fine to Lithuania on time and now the court will enforce it, as reported by BNS news, citing a representative of the Competition Council (Lithuanian Antimonopoly Service), Maria Grumblene.

    According to her, the court has already received the Competition Council’s resolution on the forcible collection of fines and penalties. Gazprom was to pay the fine before March 22, 2017.

    As was reported, the Supreme Administrative Court of …

  • Naftogaz of Ukraine wants to join Poland's lawsuit against Gazprom’s access to OPAL

    NJSC Naftogaz of Ukraine requested that the European Court of Justice allow them to join the case on appeal by Poland's PGNIG Supply & Trading against the decision of the European Commission to expand Gazprom’s access to the OPAL gas pipeline, according to the Naftogaz website which reads: “According to the statute of the European Court of Justice, a legal entity can enter the case if it is able to prove an interest in the outcome of this case.”

    In its request, Naftogaz specified the potential …

  • Gazprom has increased gas supplies to the Donbas by 41%

    In 2016, Russian gas monopoly Gazprom supplied 2.39 billion cubic meters of natural gas to the Luhansk and Donetsk regions that are beyond Ukraine’s control. That is 40.6% or 69 million cubic meters more than in 2015, as indicated in Gazprom’s quarterly reports, reported. According to the document, gas supplies to Ukraine in 2016 amounted to 2.39 billion cubic meters.

    “At the same time, Naftogaz of Ukraine ceased the purchasing of gas from the Russian company in November 2015. …