Russian gas giant Gazprom is benefiting from soaring prices in Europe even if shipments to its biggest market are now lower, according to Chief Executive Officer Alexey Miller.
Ithaca Energy will end its gas sales agreement with Gazprom’s trading arm at the end of Q3 this year, covering a share of offtake from the Vorlich field.
Germany is seeking a buyer for Gazprom PJSC’s unit in the country by offering state-backed loans for private companies willing to take parts of or the entire business, according to a person familiar with the matter.
Just a few large European energy firms are still striking deals with the trading arm of Gazprom PJSC, as companies shun Russian business in response to the war in Ukraine, according to people familiar with the matter.
With winter fast approaching and a stunning energy price surge pummelling Europe, Russian President Vladimir Putin chose an opportune moment to use his country’s leverage as an oil and gas superpower.
Europe shouldn’t overreact to the shock to natural gas markets caused by an explosion earlier this month in Austria, according to Gazprom PJSC.