Contents tagged with gas dispute
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Russia's Gazprom borrows pension money to pay off debt
Gazprom, which has been cut off from international capital markets as a result of a gas dispute with Ukraine, has turned to Russians’ pension savings in order to make large foreign debt repayments.
On Tuesday, for the second time since the start of the year, the Russian gas company has entered the Russian debt market and borrowed 40 billion rubles. Investors were offered three bond placements – a 15-year bond of 10 billion rubles, and two tranches of 15 billion rubles 30-year securities. …
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European Commission offers to mediate negotiations between Naftogaz and Gazprom
European Commission (EC) Vice-President for Energy Union Maroš Šefčovič noted that the European Commission is ready to mediate to help settle the gas dispute between Ukraine and Russia. This was mentioned in a statement released on the EC website.
It was specifically noted that Šefčovič had contacted Ukrainian and Russian authorities for telephone-based discussions. Šefčovič spoke with Ukrainian Prime Minister Volodymyr Groysman, Naftogaz CEO Andriy Kobolyev, and Russian Energy Minister …
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Russia will stop production at the main gas field in Crimea because of the legal case brought by Ukraine
Russia intends to stop production until July 18, 2018 at the largest gas field in the Crimean shelf zone, Odessa, as reported by RBC news agency citing federal authorities of the Russian Federation.
According to the publication, the suspension of the production is due to the international maritime law dispute that Ukraine initiated against Russia in 2016. The publication’s source said that the conservation of wells is a tactical move and a formal way to remove Kyiv’s claim.
At the same time, …
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Russia and Belarus resolve year-long disagreement
Russian President Vladimir Putin said that Russia and Belarus have resolved their gas-related disputes.
The disagreement between Russia and Belarus about gas shipments started in 2016. Minsk said that it had made its own price calculations for the gas and reached the conclusion that its price was roughly twice as high as it should be, arguing that a fair price would be $73 per cubic meter.
“We have found a scheme in which we keep our approaches, but bring together our positions on the cost,” …