Contents tagged with Gazprom
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The Baltic States consider the possibility of creating a single gas market
Energy regulators and politicians in the Baltic States are considering the possibility of creating a single gas market to facilitate mutual trade. It is possible that after laying the gas pipeline between Estonia and Finland, the latter will also join the common market.
As the Lithuanian Member of the Commission on Prices, Vigantas Vaitkus, informed the news Agency BNS, the negotiations have just begun and they will continue for several years. The Baltic Regional Working Group was formed to …
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Belarus does not recognize debt to Gazprom
Interfax reported that the Head of the Ministry of Energy of Belarus, Vladimir Potupchik, told journalists in Mogilev before the Foreign Affairs Council meeting of the Union State that Belarus does not recognize its debt to Russia for natural gas supplied to the Republic.
“There is no debt. Belarus pays in accordance with the intergovernmental agreements. There in court we will deal with this issue,” Potupchik said.
He noted that Russia and Belarus interpret gas agreements differently. “ …
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The EU wants Ukraine to remain a gas transit country
The European Commission is ready to facilitate a new transit agreement between Russia and Ukraine
As was stated by the EU Climate and Energy Commissioner, Miguel Arias Cañete, the European Union believes that Ukraine needs to remain a gas transit corridor, RIA Novosti reports.
"Despite the economic and political challenges, Ukraine continues to be a reliable gas partner and a transit country. It is in the interest of all parties, including the Central and Eastern European countries, that …
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Gazprom may completely abandon the Baltic market
As reported by Rzeczpospolita, after leaving Latvia and Lithuania, the Russian Gas monopoly, Gazprom, may abandon its work in Estonia as well. According to the daily, the Board of Directors of Gazprom has to make a decision on the termination of its participation in Eesti Gaas on May 11th.
As of today, 51.38% of the shares of the Estonian company belong to Finnish Fortum, 37.03% of the shares are owned by Gazprom, and 10.02% belong to the Latvian company, Itera Latvija, which is part of the …
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MEP heavily criticizes Nord Stream-2
Manfred Weber, the leader of the largest European People’s Party, heavily criticized the construction plans for the gas pipeline Nord Stream-2. The Financial Times reported on May 2nd that Weber wrote about this in his letter to the German Minister for Economic Affairs and Energy, Sigmar Gabriel, and European Commissioner for Climate Action and Energy, Miguel Arias Cañete.
Weber claims that the construction of the gas pipeline runs counter to foreign-policy goals of the European Union as it …
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Naftogaz: Ukraine could receive $50 billion if the court rules against Gazprom
The Director of the Business Development at Naftogaz, Yuriy Vitrenko, has said that if the Stockholm Arbitration Court rules against Gazprom, the Russian company would be liable to pay $50 billion in damages to the Ukrainian company. He said this during an interview with Ukrainian Hromadske TV Channel.
“The total claim amount is $50 billion, of which $30 billion is compensation for gas that was not provided by Gazprom, or gas that we overpaid for. The remaining $20 billion is related to …
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Gazprom has accepted Georgia's terms on the transit of gas to Armenia
Georgia, as before, will get 10% of the total volume of Russian gas supplies to Armenia as transit fees according to the agreement signed by the Russian corporation, as reported by the Ministry of Energy of Georgia."The text of the contract has already been agreed upon. The Ministry of Energy received the contract and sent it to the Ministry of Justice for legal assessment. The contract will then be submitted to the government for approval. Only after that will the contract come officially into …
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Naftogaz breaks with Gazprom
Naftogaz of Ukraine has no plans to resume purchasing gas from PJSC Gazprom after April 1, 2016, because the price of gas offered by the Russian company for the second quarter of 2016 is higher price than what is offered to Naftogaz by European suppliers, the press service of the Ukrainian company stated.
It was reported that Gazprom has refused to extend their “winter package” agreement with Naftogaz, that defined the transition conditions for the purchase of Russian gas for Ukraine. …
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Russian Energy Minister: Ukraine's discount on gas expired on March 31st
The Russian Minister of Energy, Alexander Novak, reported that the discount on gas given to Ukraine expired in late March, as posted on the website of the Ministry of Energy. It was noted that the amount of the discount during the first quarter of 2016 was $17.77. The final price of gas for Ukraine totaled $212 per thousand cubic meters.
“As of the 1st of April 2016, the price of gas for Ukraine will be fully in line with a valid contract between Gazprom and Naftogaz of Ukraine,” according to …
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Naftogaz to expand its claims against Gazprom
As of the first quarter of 2016, NJSC Naftogaz of Ukraine will increase its claims against Gazprom up to $1 billion under the gas transit contract, as reported by Business Development Director, Yury Vitrenko, on his Facebook page. “We will receive nearly $1 billion from Gazprom for the first quarter of 2016 for underpayment of gas transit costs,” he said.
According to Vitrenko, the claims under the gas purchase contract will be also expanded.
“Both parties will expand their claims before the …