Contents tagged with Naftogaz

  • Naftogaz warns about a possible rise in price of gas transit by $4 billion per year

    Gazprom’s price for the transit of Russian gas through Ukraine may grow by 4 billion dollars a year should Ukraine succeed in the Stockholm arbitration, and be granted the amendment to the contract with Gazprom to adhere to European norms, as was posted on Facebook by the Commercial Director of Naftogaz of Ukraine, Yuriy Vitrenko, on November 19th.

    Reiterating Ukraine’s position prior to the hearings in Stockholm which were scheduled for November 21st, Vitrenko also indicated that Gazprom will …

  • Poroshenko: Moscow asked Ukraine to buy Russian gas

    Ukrainian President Petro Poroshenko said that in the spring, Russia asked Ukraine to buy its gas. However, Kyiv refused.

    "All talks about there being rolling blackouts in winter, about Ukraine being left without heating and coal, about Ukrainians not having enough gas in their underground storage facilities, have stopped. We, in spite of the war, have built an economically strong and independent state,” he said on Wednesday during his working visit to Lviv.

    “I was pleased when the Russians …

  • Ukraine has begun extracting shale gas

    The chief executive officer of Ukrainian state energy company Naftogaz, Andriy Kobolyev, stated in his interview with Bloomberg that the Ukrgasdobycha, a subsidiary of Ukraine’s Naftogaz, began extracting shale gas using hydraulic fracturing (fracking) in October 2016.

    According to him, the drilling of the first well was performed in cooperation with European partners. Kobolyev didn’t specify the names of these companies or the location where the well will be drilled.

    The chief executive …

  • Ukraine's Naftogaz files lawsuit against Russia seeking $2.6 billion for Crimean assets

    The National Joint Stock Company Naftogaz of Ukraine and its 6 subsidiaries initiated arbitral proceedings against the Russian Federation on October 17th claiming damages caused by the illegal takeover of assets in the Crimea, as reported by the press-service of the company.

    Naftogaz initiated the proceedings in accordance with the agreement between the Cabinet of Ministers of Ukraine and the Government of the Russian Federation on the promotion and mutual protection of capital investments, …

  • CEO of Naftogaz: Ukraine will buy gas from Russia only if Gazprom offers a reasonable price

    CEO of the Ukrainian state energy company Naftogaz, Andriy Kobolyev, stated that the Ukrainian side is ready to buy gas from Russian Gazprom only if it offers a reasonable price.

    “Our offer extends to all companies, including Gazprom, only if it is ready to offer a reasonable price and abide by the rules.” Kobolyev’s words were quoted by Naftogaz on the air of the BBC TV program Hard Talk.

    According to him, currently Naftogaz is buying fuel from 14 European suppliers.

    “The very fact that …

  • Naftogaz of Ukraine purchases gas from the EU at a lower price than from Russia

    Yuriy Vitrenko, the Director of Business Development at Naftogaz of Ukraine, reported on Facebook that the company is buying gas from the European Union at a lower price than from Russian gas giant Gazprom.

    “Now the price of European gas is already significantly lower than the $185 per thousand cubic meters charged by Gazprom,” he noted.

    The press-service of Naftogaz, a national joint-stock company of Ukraine, reported that the contract price announced by Gazprom for Ukraine for the third …

  • Naftogaz believes their chances of beating Gazprom in Stockholm court are high

    Director for Business Development at the national joint-stock company Naftogaz of Ukraine Yuriy Vitrenko stated that Ukraine has a good chance of obtaining a positive decision for their claim against Gazprom in the Stockholm Arbitration Court.

    “In short, we are in the home stretch. Trials will start in the next few months. Our position is very firm, as demonstrated by the fact that, in particular, even Putin had to change his favorite statement about Gazprom: that since 2020 they will not need …

  • Claim of Naftogaz and Gazprom in Stockholm exceeds $65 billion

    The next court hearing is scheduled in autumn.

    The total amount of the claim between the National Joint-Stock Company, Naftogaz of Ukraine, and the Public Joint Stock Company, Gazprom in the Stockholm Arbitrage Court has exceeded 65 billion dollars, as Naftogaz reports on its Facebook page.

    According to the statement, the amount of Naftogaz’s claim on the contracts for the purchase, sale and transit of natural gas amounts to more than 26.6 billion dollars.

    In turn, the amount of the …

  • Transit of Russian gas reached record low

    The head of Naftogaz, Andriy Kobolyev, has reported on the low volumes of Russian gas transit and explained that this a result of the pressure that Moscow is exerting on Kiev. He said this while on air with Channel 5.

    “Transit volumes have continued to decrease and are now at a record low. This is related to the pressure that Russia exerts on Ukraine and Naftogaz. Its goals are to firstly minimize the revenue from this type of business and secondly, I think, it is part of a tactic to promote …

  • The First Deputy Chairman of Naftogaz was arrested in Kiev

    The First Deputy Chairman of the Board of the National Joint-Stock Company, Naftogaz of Ukraine, and the Chairman of the Supervisory Board of the Odessa Port Plant (OPP), Serhiy Pereloma, were arrested and jailed for 60 days by the court of Kiev on charges of theft of government property, the TV channel 112 Ukraine reports.  

    It is reported that the court set bail at 80 million hryvnia ($3.2 million at current exchange rates).  However, after the meeting Pereloma said that he had no such money …