Contents tagged with Gazprom

  • US to impose sanctions on Nord Stream 2 before Christmas

    The US is preparing a “sanctions trick” against the Russian Nord Stream 2 gas pipeline, the German newspaper Bild reported on Saturday, citing sources and a speech given by James Risch, Chairman of the US Senate Committee on Foreign Relations, at a security conference in Halifax.

    The opponents of the pipeline’s construction plan to get sanctions imposed “in a roundabout way” on the European companies involved in the realization of the project.

    Essentially, the sanctions against Gazprom’s …

  • Kyiv demands seizure of Gazprom’s assets in Latvia

    According to Gazprom's reports, Naftogaz of Ukraine filed a motion to the Latvian court to enforce the decision of the Arbitration Institute of the Stockholm Chamber of Commerce (SCC) in the case against the Russian gas giant Gazprom. The company is determined to recover $3 billion from the Russian gas giant.

    According to Gazprom, the court hearing on this claim is scheduled for the end of April 2020. At the moment, the company is considering ways to protect its interests.

    "On November 5, 2019 …

  • Ukraine and Russia hold bilateral gas talks

    Russia and Ukraine conducted bilateral gas negotiations in Vienna on November 28, the Russian media reported, citing the Russian Ministry of Energy.

    The consultations were reportedly attended by Russian Energy Minister Alexander Novak, Gazprom CEO Alexey Miller, Ukrainian Minister of Energy and Environmental Protection Oleksiy Orzhel, and the directors of Naftogaz of Ukraine and the Operator of the Gas Transport System of Ukraine.

    “The parties discussed Russian-Ukrainian collaboration in the …

  • Russia's Gazprom warns Ukraine that it will ‘shut off the gas pipe’ on January 1

    Naftogaz executive director Yuriy Vitrenko said that the company has already received a warning from Gazprom that, without a new gas transit contract, it will stop supplying gas to Ukraine’s gas transportation system (GTS).

    “In a letter which Gazprom sent to Naftogaz it is written in black and white that on January 1 at 10:00 Moscow time (09:00 Kyiv time) Gazprom will have no reason send gas to Ukraine,” Vitrenko told Deutsche Welle in an interview. He explained that, in saying this, Gazprom …

  • Ukraine willing to accept gas in lieu of Gazprom’s $3 billion debt

    Naftogaz of Ukraine has responded to Gazprom’s official one-year gas transit proposal, Yuriy Vitrenko, executive director of the Naftogaz group, wrote on Facebook.

    He effectively confirmed that Ukraine finds the proposal unacceptable, and pointed out that “Gazprom has every opportunity to sign a new long-term contract for gas transit through Ukraine” according to European regulations. Ukraine is hoping that Russia will reserve transit capacity for 10 years.

    Vitrenko remarked that even if it …

  • US defense budget to include sanctions against Nord Stream 2

    The US defense budget for 2020 will include a provision on sanctions against companies involved in the construction of the Nord Stream 2 pipeline, Republican Senator James Risch, Chairman of the US Senate Foreign Relations Committee, told Defense News on October 23.

    The text of the sanctions has not yet been publicized, but the senator said that it is similar to the “Protecting Europe’s Energy Security Act”, which was sponsored by Senator Ted Cruz.

    The bill will impose sanctions on the …

  • Russian gas not needed in China

    The gas demand in China is significantly lower than predicted by the Russian government, and a supply surplus has arisen on China’s internal market, Interfax Energy reports, citing the senior managers of Chinese energy companies.

    In 2020 the surplus will be around 9 billion cubic meters (bcm), predicts Sinopec, China’s second largest oil and gas corporation by extraction volume.

    With the Chinese government’s goal of using gas to provide 10% of the country’s energy mix by the end of 2020 (360 …

  • Poland complains of overpaying billions for Russian gas

    For several years, the Polish state-controlled oil and gas company PGNiG (Polskie Górnictwo Naftowe i Gazownictwo) has overpaid Russia’s Gazprom at least €230 million per year, PGNiG CEO Piotr Woźniak told TVP Info in an interview. He said that since 2014 at least, PGNiG has paid roughly one billion zloty (about €233 million) too much for Russian gas – the different between Gazprom’s prices and market prices.

    Woźniak hopes that the Stockholm Arbitration Institute, which PGNiG has already …

  • Berlin: gas transit through Ukraine should continue after 2019

    German Foreign Minister Heiko Maas said that Germany believes that the transit of Russian gas through the territory of Ukraine should continue after 2019, reports Interfax-Ukraine.

    During a joint briefing with Ukrainian Foreign Minister Vadym Prystaiko in Kyiv, Maas said that "we [Germany] support negotiations on gas transit through Ukraine. We believe that transit should continue after 2019."

    Maas stressed that he wants to dispel certain speculations around the "gas" topic that have recently …

  • Poland notifies Gazprom of intention to terminate gas supply contract

    The Board of Directors of the Polish national  oil and gas company PGNiG notified Russian gas giant Gazprom of its intention to terminate the binding contract for the purchase and sale of natural gas. The so-called Yamal contract was signed on September 25, 1996 and expires on December 31, 2022.

    In the Declaration of PGNiG, it is noted that deliveries of liquefied natural gas and fuel from other countries will replace the Russian gas supply.

    In the first half of 2019, Poland reduced purchases …