Contents tagged with Gazprom
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Naftogaz of Ukraine expects to receive up to $16 billion from Russian Gazprom
The national holding company Naftogaz of Ukraine expects to receive compensation in the sum of $6.5 billion to $16 billion from Russian Gazprom following the Stockholm Arbitration Court’s consideration of gas transit contracts, UNIAN reports citing the company's Chief Commercial Officer, Yuri Vitrenko, stated this.
"The amount of our claim will be between $6.5 and $16 billion, depending on whether Ukrainian legislation is applied," he said.
Vitrenko added that he anticipates the Stockholm …
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Lithuania intends to demand the seizure of Gazprom's European property
Lithuania accused Gazprom of abuse of its monopoly position in the natural gas market and imposed a fine of EUR 42 million, TASS reports. Vilnius expects to collect the fine using Gazprom’s property in other European countries.
Lithuanian Ministry of Justice has prepared a special action plan for the recovery of the fine and any accrued interest. The plan outlines the actions of various Lithuanian ministries and departments. The accusations of Lithuania relate to the events of 2012, when the …
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Poland called Nord Stream gas pipeline fatal for Ukraine
The construction of the Nord Stream 2 gas pipeline could lead to tragic consequences for Ukraine, Polish Prime Minister Mateusz Morawiecki believes, as reported by Dziennik."We believe that Nord Stream 2 is a very harmful project that threatens the security of Central Europe. This is a project that can be fatal for Ukraine, for our closest neighbor," Morawiecki said.
According to him, since Ukraine is excluded from the Russian plan to transport gas to Europe, nothing else will prevent Moscow …
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Russia’s Gazprom warned shareholders of risks due to US sanctions
Gazprom, Russia’s largest gas producer, in its financial reporting for the last nine months, prepared in compliance with the International Financial Reporting Standards, warned the company’s shareholders of new risks they may encounter due to new sanctions adopted by the United States in August 2017.
“On August 2, 2017, President of the United States signed a bill <…> that expanded the sanctions policy of the United States toward the Russian Federation,” Gazprom stated in its report. The …
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Russian Gazprom supplied 1.5 billion cubic meters of gas to separatist-controlled territories of Donbas
Russian Gazprom has supplied 1.5 billion cubic meters of gas to the Donbas for 9 months of 2017, as stated in the report of the Russian gas company for the third quarter of 2017, the text of which is available to UNIAN.
In particular, the document’s section of supplies to the CIS countries indicates that 1.58 billion cubic meters of natural gas were supplied to Ukraine, though Naftogaz stopped purchasing Russian gas in November 2015.
On October 24, Andriy Kobolyev, the head of the Ukrainian …
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Russian Gazprom acknowledges that all its export pipelines could fall under US sanctions
Gazprom recognizes that new US sanctions adopted in August of this year create risks for all export pipelines, including both existing projects and those under construction. However, an accurate assessment of their costs will require commentary the US Treasury.
The Gazprom quarterly report published on Tuesday says that "The law of August 2, 2017 creates risk for the extraterritorial application of certain US sanctions, and may adversely affect the participation of foreigners in certain new …
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Gazprom completes Turkish Stream construction on Russian territory
Russian gas conglomerate Gazprom has completed construction on the offshore sections of the two Turkish Stream lines on the territory of the Russian Federation, and has begun construction of the first line within the Turkish Exclusive Economic Zone (EEZ), Prime news outlet reported, citing South Stream Transport B.V.
"On November 4, 2017, the first line of the Turkish gas flow entered the Turkish Exclusive Economic Zone. Pioneering Spirit, the world’s largest construction vessel, laid into …
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Russian Gazprom shows loss for first time in 19 years
For the first time in 19 years, the Russian gas monopoly Gazprom has shown a net loss for a total of nine months straight.
According to Interfax's calculations, based on Gazprom’s data, the amount of the loss was $157.8 million.
Losses in individual quarters are not unusual for Gazprom. But the Russian gas giant has not suffered these kinds of losses in the last 19 years. The last time was in 1998 when Russia experienced an economic crisis. That year the joint-stock company ended the year …
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Subsidiary of Russian Gazprom spends nearly $1 million on lobbyists in the US
Between July and September, the Swiss company Nord Stream 2, which is planning the construction of the Nord Stream 2 gas pipeline from the Russian coast to Germany, spent at least $880 000 on lobbying their own interests in Washington with respect to the implementation of the project under the new US sanctions, RBC reports. Nord Stream 2, which is 100% owned by Gazprom, approached three lobbying firms, making contracts with them in July, before US President Donald Trump signed CAATSA, the new …
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Washington introduces new restrictions on companies dealing with Russian oil industry
The US Department of Treasury updated Directive No. 4, originally introduced in 2014, as part of the sanctions against Russia due to the conflict in Ukraine. Restrictions against Russian oil companies have been extended to future projects on developing recoverable oil outside Russia.
The new sanctions law (CAATSA -Countering America’s Adversaries Through Sanctions Act), signed by US President Donald Trump on August 2nd, required the amendment of this directive. The amendments had to be made by …