Contents tagged with Gazprom
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Serbia to start construction of the Turkish Stream pipeline through its territory
The Serbian government made a final decision to start the construction of the gas pipeline that will pass from Bulgaria to Hungary through the territory of the country, stated Minister of Mining and Energy of Serbia Aleksandar Antić, the local Kurir newspaper reported.
The customer for the construction of the gas pipeline is Gastrans d.o.o. Novi Sad (51% and 49% of which are owned by Gazprom and Serbiagas, respectively). The pipeline will be 400 km long and will have a capacity of 13.88 …
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Ukraine's Naftogaz starts collecting Gazprom debt in Luxembourg
One year after its lawsuit victory against Gazprom at the Arbitration Institute in Stockholm, Naftogaz of Ukraine announced on Facebook that it has started collecting its debt from the Russian company in Luxembourg too.
“Gazprom has to pay us $4.6 billion in compensation according to the transit contract,” the Ukrainian company’s press service stated, noting that it has already received $2.1 billion in gas. “The remaining amount we have been collecting through an enforcement process in several …
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Russia's Gazprom reshuffles top management after gas theft case
Three of Gazprom’s high-ranking top managers, including two deputy chairmen of Gazprom’s management committee, lost their posts as a result of the 30 billion rubles worth gas theft case investigation. The ex-senator from Karachay-Cherkessia, Rauf Arashukov, and his father, the twice-convicted advisor to the general director of Gazprom Mezhregiongaz, Raul Arashukov, were implicated in this case.
According to Interfax, on Tuesday, the deputy chairman of Gazprom board, Valery Golubev, was …
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Ukraine sells seized Gazprom assets
On 29 January, Ukraine sold a 40.2% share in the company Gaztranzit which previously belonged to Gazprom but had been seized when it failed to pay a multi-billion hryvnia fine from Ukraine’s Anti-Monopoly Committee.
The shares were bought by a closed non-diversified corporate venture investment fund called Goldman at a price of 41.02 million hryvnia ($1.51 million) for 16,650 shares, according to the National Securities and Stock Market Commission of Ukraine.
The Goldman investment fund was …
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US Congress prepares to deal new blow to Russian economy
The lull in sanctions which Russia enjoyed during US Congress’s interim elections and government shutdown is now coming to an end.
After the four-month break, Congress is once again discussing new measures that can be taken against Russia. The possibilities range from a ban on investments in Russian government debt to a complete disconnection of Russian government banks from the global dollar transaction system.
Congress’s first hearings following its elections will be held on 12 February in …
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China refuses to finance $14 billion Gazprom megaproject
Russian officials’ attempts to get through to Chinese investors in order to enlist their support in developing the economy in the East and overcoming western sanctions are continuing to fail for the fifth consecutive year.
The new negotiations to secure a Chinese loan for the construction of Russia’s largest gas processing plant in the Amur province have ended with yet another disappointment for the Russians.
Gazprom had hoped to pay for the Amur gas processing plant, which is scheduled to …
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Ukraine prepared to extend gas transit agreement with Russia under European rules
Andriy Kobolyev, CEO of Ukraine’s national oil and gas company Naftogaz, said in a press conference after trilateral negotiations in Brussels that the company is willing to extend the current agreements to transit Russian gas through Ukraine after 2019 if they comply with European regulations.
“Naftogaz is willing to consider future agreements only if they completely abide by the European legislation that has been implemented in Ukraine,” Kobolyev said.
He added that Naftogaz is open to all …
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Ukraine to reduce its claim against Russia's Gazprom if new transit contract is signed
Ukraine’s state-owned oil and gas company Naftogaz will reduce the amount of the new claim against Gazprom from $12 billion to $2 billion if Russian gas monopolist signs a new transit contract, stated Naftogaz CEO Yuriy Vitrenko in Brussels, Ukrinform reports.
"Indeed, the sum of new claims is about 12 billion dollars. Part of these claims is because we do not expect gas transit through Ukrainian territory after 2019... The chances of winning are very high. We have already proven that when we …
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Gazprom offers Ukraine to extend gas contracts after 2019 without further consultations
The Ukrainian Minister of Foreign Affairs Pavlo Klimkin, after the completion of negotiations between Ukraine, the EU, and Russia in Brussels, stated that the Russian company Gazprom is ready to extend gas contracts after 2019 without even conducting expert consultations.
“Mr. Miller [ the Head of Gazprom] emphasized three times that they are ready to continue existing contracts. These contracts are probably a source of joy for them. At the same time, he said that these contracts could be …
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Naftogaz CEO: Gazprom’s assets seized in three countries
In an interview with the Ukrainian magazine Novoe Vremya, Naftogaz CEO Andriy Kobolyev discussed the progress that has been made in the implementation of the Stockholm Arbitration Institute’s ruling that awarded Naftogaz $2.56 billion.
“Gazprom has tens of billions of dollars in property abroad. We have already seized it to an amount which exceeds the amount of Gazprom’s debt to us,” UNIAN cites Kobolyev as saying.
Kobolyev explained that in the Netherlands, Switzerland and the UK, Gazprom’s …