Contents tagged with Gazprom
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Russian Gazprom acknowledges that all its export pipelines could fall under US sanctions
Gazprom recognizes that new US sanctions adopted in August of this year create risks for all export pipelines, including both existing projects and those under construction. However, an accurate assessment of their costs will require commentary the US Treasury.
The Gazprom quarterly report published on Tuesday says that "The law of August 2, 2017 creates risk for the extraterritorial application of certain US sanctions, and may adversely affect the participation of foreigners in certain new …
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Gazprom completes Turkish Stream construction on Russian territory
Russian gas conglomerate Gazprom has completed construction on the offshore sections of the two Turkish Stream lines on the territory of the Russian Federation, and has begun construction of the first line within the Turkish Exclusive Economic Zone (EEZ), Prime news outlet reported, citing South Stream Transport B.V.
"On November 4, 2017, the first line of the Turkish gas flow entered the Turkish Exclusive Economic Zone. Pioneering Spirit, the world’s largest construction vessel, laid into …
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Russian Gazprom shows loss for first time in 19 years
For the first time in 19 years, the Russian gas monopoly Gazprom has shown a net loss for a total of nine months straight.
According to Interfax's calculations, based on Gazprom’s data, the amount of the loss was $157.8 million.
Losses in individual quarters are not unusual for Gazprom. But the Russian gas giant has not suffered these kinds of losses in the last 19 years. The last time was in 1998 when Russia experienced an economic crisis. That year the joint-stock company ended the year …
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Subsidiary of Russian Gazprom spends nearly $1 million on lobbyists in the US
Between July and September, the Swiss company Nord Stream 2, which is planning the construction of the Nord Stream 2 gas pipeline from the Russian coast to Germany, spent at least $880 000 on lobbying their own interests in Washington with respect to the implementation of the project under the new US sanctions, RBC reports. Nord Stream 2, which is 100% owned by Gazprom, approached three lobbying firms, making contracts with them in July, before US President Donald Trump signed CAATSA, the new …
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Washington introduces new restrictions on companies dealing with Russian oil industry
The US Department of Treasury updated Directive No. 4, originally introduced in 2014, as part of the sanctions against Russia due to the conflict in Ukraine. Restrictions against Russian oil companies have been extended to future projects on developing recoverable oil outside Russia.
The new sanctions law (CAATSA -Countering America’s Adversaries Through Sanctions Act), signed by US President Donald Trump on August 2nd, required the amendment of this directive. The amendments had to be made by …
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Kyiv court allows the seizure of 6 billion of Gazprom property in Ukraine
The Economic Court of the City of Kyiv satisfied the petition of the Anti-Monopoly Committee of Ukraine (AMCU) and the State Executive Service of the Ministry of Justice by changing the procedure of the execution of the court decision regarding the recovery of a 172 billion UAH ($6.48 billion) fine from Russia's Gazprom.
"To put it simply, until now, only the funds on Gazprom’s bank accounts could be recovered. Now, the recovery extends to all the debtor’s property,” posted Minister of Justice …
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Ukrainian ambassador to Turkey: Russia's Gazprom will stop at nothing to go through with Turkish Stream project
Gazprom is accelerating the construction of the Turkish Stream gas pipeline, at a time when the United States’ willingness to use sanctions on the project is in question writes Ukrainian Ambassador to Turkey Sergey Korsunsky article for the Zerkalo Nedeli newspaper.
The author notes that at the start of September, Swiss Allseas Group S.A., which was contracted to lay the most complicated sea stretch of the gas pipeline, was joined by the British company Petrofac, which has signed a contract to …
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Gazprom to increase gas transit through Ukraine
Gazprom has applied for an increase of gas transit through Ukraine to 315 million cubic meters per day, according to the press service of NJSC Naftogaz of Ukraine.
Gazprom’s daily application for increase has grown by 47 million cubic meters in the last week. Naftogaz is ready to ensure the implementation of the enlarged applications in full amount, although such significant fluctuations in the volumes of transit are not specified in the contract terms between Naftogaz and Gazprom.
Naftogaz …
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Russia’s Gazprom continues to supply gas to separatist-held territories and billing Ukraine for it
In the first half of 2017, Russian Gazprom delivered 1,389 billion cubic meters of gas to the separatist DPR (Donetsk People’s Republic) and LPR (Luhansk People’s Republic. The price of Russian gas as of the first quarter of 2017 was $306.6 per thousand cubic meters, as supported by the data from Gazprom’s report for the second quarter.
Ukraine has not been importing gas from Russia for more than 600 days, which means, all deliveries go to separatist-held territories of Ukraine.
According to …
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Gazprom claims that increase in Nord Stream’s transit did not reduce gas transit through Ukraine
Gazprom is experiencing good dynamics in its gas exports to Europe through Nord Stream and OPAL pipelines; at the same time, transit through Ukraine has even increased, TASS reported quoting Chairman of the Board of Gazprom, Alexey Miller.
"Between August 1 and August 8, production through the OPAL gas pipeline by Gazprom increased by 30%. Today, the pipeline has reached full capacity. The volume of daily gas supply to Greifswald reached 140 million cubic meters on August 8. That is, the use …