Contents tagged with Russian gas

  • Hungarian Foreign Minister travels to Moscow to discuss purchasing more Russian gas

    Hungarian Foreign Minister Peter Szijarto travelled to Moscow on Thursday to discuss purchasing more Russian gas, according to a Facebook post by Hungary’s ruling Fidesz party.

    “In order to ensure the security of Hungary’s energy supply, the government has decided to purchase an additional 700 million cubic meters of natural gas in addition to the quantities stipulated in the long-term contracts,” the post read.

    Szijarto is scheduled to meet with his Russian counterpart, Sergei Lavrov. …

  • EU says paying for Russian gas in rubles would violate sanctions

    The European Commission, the EU’s executive arm, has warned member states that paying for Russian gas in rubles would violate sanctions imposed on Moscow.

    On March 31st, the Kremlin demanded that EU gas buyers open two accounts: one in foreign currency and one in rubles. Gazprombank would be responsible for converting the currency and transferring the ruble payment to Gazprom, the Russian state-owned energy corporation.

    The European Commission has determined that such a situation alters the …

  • G7 will not pay rubles for Russian gas

    The countries of the Group of Seven announced they have rejected the Kremlin’s demands that Russian gas be paid for using Russian rubles, Reuters reported.

    Last week, Russian President Vladimir Putin suggested that “unfriendly” countries would be required to pay for gas using rubles.

    “I have decided to implement a set of measures to transfer payments for our gas supplies to unfriendly countries into Russian rubles," Putin stated.

    On Monday, German economy and climate protection minister …

  • Armenia considers buying Iranian gas instead of Russian

    Acting Armenian Prime Minister Nikol Pashinyan said that the authorities of the country will discuss the possibility of purchasing gas from Iran.

    He said that Armenia will simultaneously hold negotiations with the Russian side to find the most profitable solution.

    At present, Armenia is not satisfied with the sharp increase in the price of Russian gas that will cost $ 165 per thousand cubic meters instead of the previous price, $150, starting from 2019.

    “The issue of supplying Iranian gas is …

  • Poland claims its dependence on Russian gas decreasing

    The Polish oil and gas company PGNiG in its press release reported the increase in import of liquefied natural gas (LNG) into the country. According to the company, although the volume of gas purchased in Russia has also increased, its share in total imports amount has decreased.

    In January-July 2018, LNG shipments to Poland increased by 0.6 billion cubic meters (by 60%) compared to the same period last year. These LNG supplies to Poland came from Norway, Qatar and the United States. Over the …

  • Russian Prime Minister Medvedev orders confiscation of Chechen assets to service debt

    Russian Prime Minister Dmitry Medvedev gave a radical order on Monday to deal with the North Caucasian republics’ gas and electricity debt problem.

    At the conclusion of the session of the government commission for the social and economic development of the North Caucasian Federal District, Medvedev gave the order to confiscate energy assets in Chechnya, Dagestan, Ingushetia, Kabardino-Balkaria and North Ossetia in favour of state corporations.

    Companies and networks are to be transferred to …

  • Poland finds violations in Gazprom contracts

    Poland’s Supreme Audit Office (NIK) has discovered violations in gas contracts made with Gazprom between 2009-2010, according to a document published on the NIK’s website.

    The document states that former Polish Economy Minister Waldemar Pawlak made agreements with the Russian company “without the needed backing in the form of an approved negotiation instruction, and after the approval of such instructions, some of the agreements were incompatible with the obligatory principles”.

    The NIK also …

  • Stockholm Arbitration Court supports Poland’s demand for a reduction in gas prices from Gazprom

    In the interim judgment on the claim of the Polish oil and gas company PGNiG, the Stockholm Arbitration Court ruled that it can demand that the Russian gas monopoly Gazprom reduce gas prices, as evidenced by the partial decision of the Court published by the press-service of the PGNiG.

    The Polish company has the right to demand lower prices for Gazprom’s Russian gas within under the so-called Yamal contract, the long-term contract under which the Russian company supplies Poland with gas.

    The …

  • Russia considers running Turkish Stream Gas pipeline through Bulgaria

    Following talks with Bulgarian Prime Minister Boyko Borisov, Russian President Vladimir Putin said that Gazprom was "working out in practical terms" the construction of a second gas line stretching from Turkey to Bulgaria for Turkish Stream, which is intended for the transit of Russian gas through Turkey to the countries of the Southeast Europe, reported the newspaper Kommersant.

    Initially, Gazprom was considering two routes – one through Greece to southern Italy (nicknamed the Poseidon …

  • Russia provides Turkey with retroactive 10.25% discount on gas

    Anadolu news agency reports that Turkish President Recep Erdogan has announced that an agreement has been reached with Russia, according to which Moscow will retroactively provide a discount on gas delivered to Turkey in 2015 and 2016.

    "After long discussions, an agreement was reached on a 10.25% discount on gas delivered in 2015 and 2016. The difference in payment for these two years, namely $1 billion, will be returned to Turkey," the President said.

    Gazprom had canceled discounts on gas …