Contents tagged with Gazprom
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Naftogaz attempts to seizes additional Gazprom assets in Luxembourg
The Russian gas monopoly Gazprom has disclosed new details on the attempts made by Naftogaz of Ukraine to seize its assets in order to implement the ruling of the Stockholm Arbitration Institute, which ordered Gazprom to pay the Ukrainian company more than $2.5 billion in compensation, Radio Liberty reports.
According to Gazprom’s latest financial report, on 15 February, Naftogaz notified the Gazprom subsidiary “Gaz Capital” and the largest banks in Luxembourg that all of Gazprom’s assets and …
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Kremlin: China is interested in increasing gas supplies from Russia
The Chairman of the Management Committee of Russian energy company Gazprom, Alexey Miller, on the air of the program “Moscow. Kremlin. Putin " said that Gazprom’s Chinese partners from the state-owned oil and gas company the China National Petroleum Corporation (CNPC) show great interest in increasing the supplies beyond the volume agreed in the thirty-year contract, reports news agency TASS.
The current contract for the supply of Russian gas to China through the Power of Siberia pipeline, …
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Ukraine's Naftogaz to offer Gazprom a new transit agreement for ten years
During the press conference of the Ukrainian national gas company Naftogaz, the executive director of the Ukrainian company, Yuriy Vitrenko, announced that in the upcoming negotiations Naftogaz plans to offer Gazprom to book 60 billion cubic meters of transit capacity of the Ukraine gas transmission system for a period of ten years. This press service was broadcast on the official Naftogaz account on Facebook.
He noted that the company would provide a capacity of 90 billion cubic meters per …
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Denmark stopped Nord Stream 2
Nord Stream 2 AG, the operating company of the Nord Stream 2 gas pipeline project, has been forced to comply with the demands of the Danish regulator and submit an application to lay the pipe within Denmark’s exclusive economic zone in the Baltic Sea.
This is the third such application that the company has submitted. Originally, Gazprom intended to lay the pipeline along the same route as the first Nord Stream pipe, but when it became clear that Denmark could simply prohibit the laying of this …
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Russian Gazprom ramps up gas transit through Ukraine by 25%
The Russian company Gazprom has recently increased the volume of gas it is transporting to Europe through Ukraine by 25%, according to a Facebook post by Andriy Kobolyev, CEO of Naftogaz of Ukraine.
“The reason for this is the renovation of the Yamal-Europe pipeline (which passes through Belarus)… annually this is the equivalent of around 110 billion cubic meters of gas per year,” he wrote.
In a matter of days, the daily volume of gas pumped through the Ukrainian gas transport system rose by 6 …
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EU to spend €215 million to remove Poland's dependency on Russian gas
The EU government has decided to allocate €215 million to the construction of the Baltic Pipe, a pipeline that will transport gas from Norwegian deposits through Denmark to Poland.
The Polish gas operator Gaz-System will receive the funds for construction of the pipeline. The company announced on Monday that it had signed the relevant agreement with the EU’s Innovation and Networks Executive Agency (INEA).
The financing will be used to build the underwater section of the pipe that will …
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Poland accuses Russia of inflating gas prices
For many years, Poland has been buying gas from Gazprom for higher prices than it would have paid its European suppliers and, as a result, has suffered multibillion-dollar losses, said Peter Naimsky, the Polish government's chief representative on the development of energy infrastructure, at the 7th National Energy Summit held in Gdańsk, Radio Poland reported.
According to the official, from 2001–2018 alone, Poland lost from 50 billion to 100 billion zlotys (at the current exchange rate from € …
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Shell to withdraw from Gazprom’s Baltic LNG project
The British-Dutch company Shell plans to withdraw from the Baltic liquefied natural gas (LNG) project following Gazprom’s decision to integrate it with a gas processing plant in Ust-Luga, announced Shell Russia Chairman Cederic Cremers in a statement.
“Following Gazprom’s announcement on 29 March regarding the final development concept of Baltic LNG, we have decided to stop our involvement in this project. We have a number of other ongoing projects with Gazprom, including as part of the …
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Ukraine's Naftogaz to pay 14 million euros to Norwegian lawyers for assistance in lawsuit against Gazprom
Ukrainian national oil company Naftogaz has signed a contract for legal services in a lawsuit against the Russian gas giant Gazprom. Naftogaz will pay the lawyers of the Norwegian law firm Wikborg Rein Advokatfirma AS 14 million euros, according to Ukrainian Prozorro e-procurement system.
The cost of the services includes attorneys' fees and the costs of involving witnesses in the court proceeding.
At the end of January, in Stockholm, the initial hearing in the suit of Naftogaz against the …
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Head of Naftogaz: Gazprom cancelling gas transit through Ukraine
Gazprom has started the process of officially notifying the countries bordering Ukraine that the transit of gas through the territory of Ukraine will stop from the beginning of next year, Head of Naftogaz Andriy Kobolyev said in an interview with RBC Ukraine.
“Gazprom is already officially notifying the countries that border Ukraine or are dependent on our transit that there will be no transit of gas from the beginning of 2020,” Kobolyev said without citing any sources.
In March, the …