Contents tagged with Gazprom
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Russia's Gazprom to build pipeline through North Korea
Another Russian pipeline to Asia, announced by billionaire and major Gazprom contractor Gennady Timchenko in May, will pass through North Korea.
Gazprom, which is already engaged in the construction of gas pipelines to Turkey, the EU and China with a total cost of $25 billion, is negotiating a new construction project with South Korea, Gazprom deputy chairman Vitaly Markelov announced on Friday.
The project in question was mentioned in a memorandum with the South Korean company Cogas in 2008, …
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Russian gas conglomerate Gazprom cut off from international capital markets
The Stockholm Arbitration Institute’s ruling obligating Gazprom to pay Naftogaz Ukraine $2.6 billion has threatened to disrupt the Russian gas company’s foreign loan plans. The loans in question would be used to finance the construction of pipelines to China, Turkey and around Ukraine.
Due to the seizure of its assets in Switzerland and the Netherlands at Naftogaz’s request, Gazprom was forced to cancel its placement of eurobonds scheduled for the middle of June, an informed source told …
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Swedish appeals court suspends arbitration award to be paid by Gazprom to Ukraine's Naftogaz
The Swedish appeals court granted the request of the Russian company Gazprom to suspend the decision of the Stockholm arbitration court in the company’s dispute with the Ukrainian company Naftogaz. This was reported by Ukrainian-Interfax, citing a press release from Gazprom.
“The Court of Appeal agreed that there are sufficient grounds for suspending the execution of the Stockholm arbitration award. The issuance of this order deprives Naftogaz of Ukraine of grounds to attempt to seize Gazprom’ …
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Media: heads of Ukraine's Naftogaz reward themselves with nearly $14 million after victory over Gazprom
Ukraine’s Naftogaz Board of Directors has awarded Andriy Kobolyev, Chairman of the Board, and Yuriy Vitrenko, Commercial Director, a combined total of $13.9 million from the award earned in the company’s legal victory over Gazprom in the Stockholm Arbitration Court, reported the newspaper Dzerkalo Tyzhnia, citing its own sources.
In total, the Supervisory Board decided to award employees nearly $37 million. This amount will be distributed among 41 employees who "directly or indirectly made a …
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Russia's Gazprom has filed an appeal in Swiss courts regarding seizure of assets in the Netherlands
Russian gas company Gazprom has appealed to the Swiss court system regarding the seizure of its assets in the Netherlands.
Gazprom hasfiled an appeal following reports of the seizure of its property in the Netherlands in response to a legal decision in favor of Naftogaz Ukraine in its dispute with the Russian company. Gazprom has stated that no official notifications regarding the launch of arrest procedures were received.
In an officially released statement, Gazprom noted that it has filed a …
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Gazprom decides not to hurry with the payment of $2.56 billion to Ukraine's Naftogaz
Russian Gazprom is in no hurry to pay Ukrainian Naftogaz the $2.56 billion ordered by the court because they have no guarantee that the money will be returned if the decision of the Stockholm arbitration is cancelled,s reported TASS with reference to Gazprom's Deputy Head, Sergey Kuznets.
"We believe that we just need to go a little slower. We need to get to the bottom of this affair. Let's finally put this matter to rest: who owes to whom," he noted.
According to Kuznets, the Russian company …
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Naftogaz invites Gazprom for transit talks
Naftogaz Ukraine (NAK) has suggested that Russian Gazprom should negotiate terms for the future transit of Russian gas to the EU in a trilateral format organized by the European Commission, reported Interfax-Ukraine, citing NAK’s press service.
"We suggest that Mr. Miller discuss this issue at the talks initiated by the European Commission," the message said.
Earlier, Gazprom Deputy Chairman Alexander Medvedev said that he did not understand who on the Ukrainian side was in charge of …
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Netherlands follows Switzerland in seizure of Gazprom assets
The Netherlands has followed Switzerland in the seizure of Gazprom’s assets in Europe.
According to the ruling of the Arbitration Institute of the Stockholm Chamber of Commerce that Gazprom must pay Ukraine $2.6 billion in compensation for the shortfall in gas transit, Gazprom’s shares in its subsidiary companies in the Netherlands have been arrested, stated the press service of Naftogaz Ukraine.
Petitions for the implementation of restrictive measures were made at a Dutch court, and were …
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Ukraine's Naftogaz to pay 41 employees $46 million in bonuses for the victory over Gazprom
41 employees of Naftogaz will receive big bonuses for Naftogaz’s victory in a dispute with Gazprom. The decision was approved by Naftogaz’s supervisory board.
The press service of the Ukrainian company said that the total amount of the bonus payment is $46.3 million, of which $9 million well be spent on income tax and other fees. This is 1% of the amount that Gazprom must pay to Naftogaz of Ukraine in accordance with the decision of the Stockholm Arbitration Institute that settled the gas …
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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 …