Contents tagged with Gazprom

  • Poland threatens to complain to European Commission about Gazprom

    Polish state oil and gas company PGNiG issued a statement accusing Russia's Gazprom of failing to comply with the ruling of Stockholm arbitration court. According to Warsaw, the Russian company continues to abuse its monopoly position in the market.

    “Gazprom has not complied with the final decision of the Arbitration Institute of Stockholm in the PGNiG case. The ruling of March 30, 2020 demanded a change in the pricing formula of the Yamal contract (a gas supply contract that Russia and Poland …

  • Kyiv: Ukraine is preparing to stop gas transit from Russia

    Ukraine is preparing to stop gas transit from Russia and the program of optimization of the country's gas transportation system is part of this strategy, stated the head of the Ukrainian national company "Operator of the Gas Transport System of Ukraine" Serhiy Makogon in an interview with the Liga.net news outlet.

    According to Makogon, Kyiv will continue to oppose the construction of the Nord Stream-2 gas pipeline and counts on assistance from the U.S. and EU countries, as the project "carries …

  • Ukraine prepares $17 billion worth of new claims against Gazprom

    Naftogaz is ready to put forward another $17.3 billion in claims against Gazprom after transitioning to the European standard of regulation of the gas industry, announced the company's executive director Yuriy Vitrenko on his Facebook page.

    "My team has clearly formulated and submitted for approval to the supervisory board of Naftogaz additional "issues" to Gazprom for the amount of $17.3 billion. There will be a lot of work ahead of us if this is approved," he wrote.

    Vitrenko also commented …

  • Poland declares victory over Gazprom in gas price dispute

    The Stockholm arbitration ruled in Poland's favor in a five-year dispute with Gazprom over the price of gas, reported Polish state-owned oil and gas company PGNiG.

    "The Court of Arbitration considered PGNiG's arguments and confirmed that the gas price under the Yamal contract was non-market and overstated," PGNiG said.

    Now the Polish company will pay Gazprom for fuel under a new price calculation formula, "which is directly linked to gas prices in the Western European market.

    "The court's …

  • Kyiv is looking for ways to ‘bury’ Nord Stream-2 pipeline

    Ukraine is in talks with the United States aimed at preventing Russia from finishing the Nord Stream-2 gas pipeline, said the head of the Ukrainian national oil company, Naftogaz, Andriy Kobolyev.

    He believes that "the game is not over yet." "The Russians will try to create their own technical capabilities to complete the pipeline ... We are now discussing how to be sure that this project is buried completely," the top manager said, as quoted by RIA Novosti.

    At the same time, Kobolyev made it …

  • Gazprom names date for launch of Nord Stream 2

    According to a company presentation made for Investor Day, Gazprom’s Nord Stream 2 will supposedly be launched by the end of 2020.

    A similar time frame for the completion of the gas pipeline was mentioned in January by Russian President Vladimir Putin, who said that Nord Stream 2 would be operational by the end of 2020 or the start of 2021.

    The project involves the construction of two lines of a 1224 km long pipe along the bottom of the Baltic Sea. The pipeline will be used to transport gas …

  • Ukrainian Naftogaz considers filing new lawsuits against Gazprom

    Naftogaz is considering the possibility of filing new lawsuits against Gazprom, the Ukrainian company’s executive director Yuriy Vitrenko wrote on Facebook.

    He said that this could involve a complaint to the European anti-monopoly office regarding Gazprom’s “abuse of its dominant position”, with possible litigation in the EU Court of Justice, as well as an international arbitration in Zurich regarding the new transit contract, on the basis of Swiss law.

    Naftogaz might also appeal to the …

  • US preparing new sanctions against Russian oil giant Rosneft

    The US could soon impose additional sanctions on the Russian energy company Rosneft due to its continued support of the Nicolas Maduro regime in Venezuela. According to the TASS news agency, this was mentioned at a press conference on Wednesday by a high-ranking member of the Donald Trump administration.

    According to him, the administration is considering the possibility of including new sanctions against Russia’s largest oil company in its package of “paralyzing” measures against the …

  • Ukrainian President suggests using $2.9 billion from Gazprom on roads and medicine

    Ukrainian President Volodymyr Zelensky has suggested that the $2.9 billion which Naftogaz received from Gazprom as the result of an arbitration dispute be used for infrastructural and medical projects, the president’s press service reported.

    “We are further planning to direct funds towards the construction of roads – that’s our infrastructural priority, towards other infrastructural projects, towards the medical field and towards energy efficiency. One of the plans is to build more than 200 …

  • Gazprom vows to finish building Nord Stream 2 on its own

    Gazprom CEO Alexey Miller said that US sanctions will not stop the Nord Stream 2 gas pipeline from being completed.

    According to him, Russia is capable of finishing the project without the involvement of any other countries, although it will take longer.

    In a broadcast of the TV channel Russia 1, Miller emphasized that the “technological risks are currently being dealt with using Russian capabilities”.

    “There are no technological obstacles to us doing it on our own,” he said.

    Previously …