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Gazprom

Oil & Gas

Ukraine fines Gazprom $3.5billion

The head of Ukraine's competition authority said it has decided to fine Gazprom $3.5billion for abusing its monopoly on the Ukrainian gas market.

Europe

Gazprom warns EU of impending gas crisis

Gazprom has warned the EU of a wide-scale gas market crisis and underinvestment amid falling commodity prices unless Brussels revises its "contradictory" energy policies.

Oil & Gas

Ukraine’s PM calls for halt on Nord Stream II pipeline project

The Prime Minister of Ukraine has called for the European Union to block the Nord Steam II gas pipeline project, according to reports. The leader said it would hurt his country and also potentially provide Russia with more of a monopoly over gas supplies in the region.

Oil & Gas

Lithuania in talks with Gazprom over new gas supplies

Lithuania has started talks with Russian gas exporter Gazprom GAZP.MM on purchases for the next year as its long-term supply contract expires in December, Baltic news agency BNS reported. Gazprom said on Monday it would hold an auction later this year for gas deliveries to the Baltic States in 2016. Lithuania's Lietuvos Duju Tiekimas (LDT) plans to import up to 500 million cubic metres (mcm) of pipeline gas next year, Haroldas Nauseda, head of LDT's commercial department, told the parliamentary economic affairs committee this week.

Europe

Gazprom in talks with Georgia over gas supplies

Georgia has held talks with Gazprom on receiving additional natural gas from Russia, Georgia's energy ministry said today, a move that has been criticised for potentially making the country more dependent on its former Soviet master.

Other News

Appeal launched to resolve gas price row with Russia

An appeal has been made by the Turkish state gas importer Botas to the International Chamber of Commerce in a bid to resolve a row over the price of gas from Russia. The move has been made after the two countries failed to sign an deal. Earlier this year Turkey said it had obtained a 10.25% price discount on the 28-30 billion cubic metres (bcm) of gas it buys from Russia each year but the two sides have been at loggerheads over the deal for months.

Oil & Gas

Pavilion Energy agrees to 10-Year LNG supply deal with Gazprom

Singapore’s Pavilion Energy Pte has signed a 10-year LNG agreement with a unit of Russia’s gas giant Gazprom PJSC, Chief Executive Officer Seah Moon Ming said Tuesday. The liquefied natural gas unit of Singapore’s state-owned Temasek Holdings Pte has also signed a memorandum of understanding with the Chinese energy company Huadian to supply LNG from 2020 onward and a similar agreement with Japan’s Jera Co. to jointly procure and invest in LNG, he said at a conference in Singapore.

Oil & Gas

Gazprom planning for the lowest fuel price in EU market for a decade

Gazprom PJSC, the world’s biggest natural gas exporter, is planning for the lowest price for its fuel in its main European market for more than a decade. The state-run exporter is drafting its budget for 2016 with preliminary estimates for gas prices outside the former Soviet Union of about $200 per 1,000 cubic meters ($5.45 a million British thermal units), said two people with direct knowledge of the matter who asked not to be identified because the information is private.

Oil & Gas

Gazprom to half capacity of TurkStream gas pipeline project

Russian oil producer Gazprom has almost halved the planned capacity of its TurkStream gas pipeline project, according to the company’s chief exec. The expected capacity has been reduced from 63billion cubic metres (bcm) to 32bcm. Chief executive Alexei Miller said Gazprom now plans to supply a smaller amount because it also wants to expand the Nord Stream gas pipeline which runs on the bed of the Baltic Sea to Germany.

Oil & Gas

Russia’s Gazprom Neft Q2 net profit up 47%

Gazprom Neft, the oil arm of state gas producer Gazprom, posted 73.2 billion roubles ($1.14 billion) in net profit for the second quarter, up 47 percent year-on-year, thanks to the weak rouble, the company said on Thursday. Gazprom Neft, one of a few growing Russian oil firms by output, said its revenue was at 423.2 billion roubles compared to 429.3 billion roubles a year ago.

Oil & Gas

US sanctions could hit Shell and Gazprom’s strategic alliance

Oil giant Shell’s plans to build a strategic alliance with Gazprom could be affected after the US placed one of the Russian company’s biggest oil fields under sanction. Earlier this year the two companies signed an agreement which would see them develop an alliance in the gas sector. The deal could see them work in a number of areas including exploration and production, to sales – which could include asset swaps.

Markets

Gazprom profit rises 71% on weaker ruble even as gas prices drop

Gazprom PJSC, the world’s biggest natural gas producer, said first-quarter profit rose 71 percent as a weaker ruble countered lower prices for the fuel and falling sales volumes. Net income climbed to 382 billion rubles ($5.9 billion) from 223 billion rubles a year earlier, the Moscow-based company said Monday in a statement. That exceeded analysts’ average 353 billion-ruble estimate, according to data compiled by Bloomberg. Revenue rose 5.7 percent to 1.65 trillion rubles.