Contents tagged with Gazprom

  • Russia begins work on new gas pipeline to China

    Nord Stream-2 is not yet completed, but Russian gas giant Gazprom has already started designing a new gas pipeline, which will transport Russian gas to China via Mongolia. On Monday, the head of Russia's Gazprom, Alexei Miller, announced the start of work on the Power of Siberia-2 gas pipeline.

    "On behalf of the Russian President, Gazprom has started design and preparatory work on the Power of Siberia-2 gas pipeline. It could become a new export channel with a capacity of up to 50 billion …

  • Poland prepares a new blow to Russian gas supplies to Europe

    Russian gas giant Gazprom continues to face problems in the European gas market, where demand and prices have collapsed and volume of gas in storage has reached a historic record, repots

    Following the failure of the Nord Stream 2 project, which came under U.S. sanctions and did not receive regulatory benefits from the German Federal Network Agency, a key operating pipeline for gas exports to the EU came under attack.

    On May 17, the contract for the transit of Russian gas through …

  • Russian media: German government promises to support companies engaged in Nord Stream 2

    The German government intends to provide political support to businesses working on the Nord Stream 2 gas pipeline, reports the Russian newspaper Kommersant.

    "The Federal Government does not know how the project will be implemented from a technical point of view but assumes that the Nord Stream 2 will be completed. The Government will continue to provide political support to the companies involved in this project," said the German Government, as quoted by the Russian news agency Prime.

    The …

  • Germany deals final blow to Nord Stream 2

    The 10-billion-euro project Nord Stream-2, which was blocked by U.S. sanctions, received a new and apparently final blow from the German authorities, who deprived the gas pipeline of the last hope for profitability.

    According to Handelsblatt, on Friday the German Federal Network Agency decided to deny Nord Stream 2 AG an exemption from the requirements of the updated EU Gas Directive.

    The German energy market regulator has ruled that Nord Stream 2 must comply with European competition …

  • Poland threatens to seize Gazprom assets

    Polish Deputy Minister of State Assets Janusz Kowalski said in an interview with WProst that he was ready to put pressure on Gazprom to force the Russian company to comply with the Stockholm arbitration decision and change the gas price formula for Warsaw. This could include the seizure of Nord Stream 2 assets.

    Kowalski cited as an example the dispute between Gazprom and Naftogaz of Ukraine, during which, according to the deputy minister, the Russian side also refused to comply with the terms …

  • Poland threatens to complain to European Commission about Gazprom

    Polish state oil and gas company PGNiG issued a statement accusing Russia's Gazprom of failing to comply with the ruling of Stockholm arbitration court. According to Warsaw, the Russian company continues to abuse its monopoly position in the market.

    “Gazprom has not complied with the final decision of the Arbitration Institute of Stockholm in the PGNiG case. The ruling of March 30, 2020 demanded a change in the pricing formula of the Yamal contract (a gas supply contract that Russia and Poland …

  • Kyiv: Ukraine is preparing to stop gas transit from Russia

    Ukraine is preparing to stop gas transit from Russia and the program of optimization of the country's gas transportation system is part of this strategy, stated the head of the Ukrainian national company "Operator of the Gas Transport System of Ukraine" Serhiy Makogon in an interview with the news outlet.

    According to Makogon, Kyiv will continue to oppose the construction of the Nord Stream-2 gas pipeline and counts on assistance from the U.S. and EU countries, as the project "carries …

  • Ukraine prepares $17 billion worth of new claims against Gazprom

    Naftogaz is ready to put forward another $17.3 billion in claims against Gazprom after transitioning to the European standard of regulation of the gas industry, announced the company's executive director Yuriy Vitrenko on his Facebook page.

    "My team has clearly formulated and submitted for approval to the supervisory board of Naftogaz additional "issues" to Gazprom for the amount of $17.3 billion. There will be a lot of work ahead of us if this is approved," he wrote.

    Vitrenko also commented …

  • Poland declares victory over Gazprom in gas price dispute

    The Stockholm arbitration ruled in Poland's favor in a five-year dispute with Gazprom over the price of gas, reported Polish state-owned oil and gas company PGNiG.

    "The Court of Arbitration considered PGNiG's arguments and confirmed that the gas price under the Yamal contract was non-market and overstated," PGNiG said.

    Now the Polish company will pay Gazprom for fuel under a new price calculation formula, "which is directly linked to gas prices in the Western European market.

    "The court's …

  • Kyiv is looking for ways to ‘bury’ Nord Stream-2 pipeline

    Ukraine is in talks with the United States aimed at preventing Russia from finishing the Nord Stream-2 gas pipeline, said the head of the Ukrainian national oil company, Naftogaz, Andriy Kobolyev.

    He believes that "the game is not over yet." "The Russians will try to create their own technical capabilities to complete the pipeline ... We are now discussing how to be sure that this project is buried completely," the top manager said, as quoted by RIA Novosti.

    At the same time, Kobolyev made it …