Contents tagged with Gazprom

  • The transit of Russian gas through Ukraine has risen to a 5-year record high

    Ukrtransgaz, the operator of the Ukrainian gas transport system, stated that from January to May 2017, Gazprom increased the transit of gas through Ukraine to 38.26 billion cubic meters.

    This is the highest recorded volume of transported gas over the past 5 years; it exceeds the average transit volume for January-May during 2013-2016 by almost 9 billion cubic meters. Other Russian gas route volumes remained stable.

    Gazprom is able to cover the growth and fluctuations in demand for Russian gas …

  • Naftogaz refused to negotiate with Gazprom in Moscow

    National Joint Stock Company Naftogaz of Ukraine refused to negotiate with Gazprom in Moscow; a decision noted in the company's response to the invitation of Alexander Medvedev, Gazprom Deputy Chairman of the Management Committee.

    Yesterday, Medvedev said that Gazprom was ready to discuss a new transit contract because the current one expires in 2019, so he invited Naftogaz to come to Moscow.

    Naftogaz believes that the territory of the Russian Federation is not a place for negotiations. "This …

  • Poroshenko: Stockholm arbitration tribunal’s decision on the lawsuit of Naftogaz vs. Gazprom was a 'convincing victory'

    President Petro Poroshenko considers the decision of the arbitral tribunal under the auspices of the Arbitration Institute of the Stockholm Chamber of Commerce a victory in the lawsuit of Naftogaz Ukrainy against the Russian Gazprom under the gas supply contract. This was reported on the president's website.

    "Our joint effort, made by NATO and legal representatives and the Foreign Ministry team, which also helped us a lot, together with the position of the President’s administration and the …

  • Head of Naftogaz says Ukraine expects two final decisions in a dispute with Gazprom

    The final computed amount of compensation in the dispute between Naftogaz and Gazprom will be known after the completion of the so-called “transit case.” The head of the NJSC Naftogaz of Ukraine, Andriy Kobolyev made the statement on "1 + 1" TV on the evening of June 4.

    Kobolyev recalled that according to the decision of the arbitration tribunal under the auspices of the Arbitration Institute of the Stockholm Chamber of Commerce, Ukraine will pay nothing for gas that they did not take, despite …

  • Ukraine confiscates Gazprom’s joint venture shares

    Ukraine seized the shares of Gaztransit (Kyiv), Private Joint-Stock Company owned by the Russian Gazprom, as reported in Gazprom’s quarterly report.

    “On May 12, 2017, Gazprom PJSC received through the representative office of Gazprom PJSC in Kyiv resolutions of the Department of the State Executive Service of the Ministry of Justice of Ukraine on the opening of the enforcement proceedings in the amount of UAH 189.13 billion ($7.20 billion USD), including the amount of the execution fee of UAH 1 …

  • Poroshenko: This is the first time that Russia is unable to use gas as an instrument of political leverage and blackmail

    Ukrainian President Petro Poroshenko welcomed the judgment of the Stockholm Court of Arbitration in the case of Naftogaz of Ukraine against Gazprom.

    Earlier, the Stockholm Court of Arbitration fully satisfied the claims of Naftogaz to Russia's Gazprom under the gas supply contract with Ukraine from 2009 on a ‘take or pay’ basis. The Ukrainian state company won the largest commercial dispute.

    The head of state noted that according to this judgment, the "take or pay" provision was cancelled and …

  • The Stockholm arbitration tribunal rejected the claims of Russia's Gazprom against Naftogaz of Ukraine

    The claims of Gazprom against Naftogaz of Ukraine regarding the take-or-pay condition were completely abolished, as reported to Interfax-Ukraine by the press service of the Ukrainian state-owned holding company citing the head of Naftogaz, Andriy Kobolyev.

    The press service also reported that the arbitral tribunal under the auspices of the Arbitration Institute of the Stockholm Chamber of Commerce satisfied the demand of Naftogaz of Ukraine concerning the price revision in the contract for gas …

  • 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 …