Contents tagged with Gazprom
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Europe prepares for gas war between Russia and Ukraine
Countries in the EU have been buying increased quantities of gas for commercial and strategic reservoirs, filling all the available underground gas storage almost to the brim, in light of growing risks that the current gas war between Russia and Ukraine will escalate this winter.
In just over 3 weeks time, the current contract for the transit of Russian gas through Ukraine will expire. To this day, despite Russia’s annexation of Crimea and the war in the Donbas, nearly half of the gas supplied …
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Ukraine and Russia discuss settling $3 billion arbitration dispute using gas
Ukraine and Russia are discussing the possibility of Gazprom paying the $3 billion owed by it according to the Stockholm Arbitration Institute’s ruling using gas, said Naftogaz executive director Yuriy Vitrenko in a broadcast of Radio NV.
“[Russian Energy] Minister Novak, who was at the talks, admitted that they are discussing the matter of implementing the arbitration ruling by supplying the corresponding amount of gas. We see some progress in the public statements. We’re talking about $3 …
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US to impose sanctions on Nord Stream 2 before Christmas
The US is preparing a “sanctions trick” against the Russian Nord Stream 2 gas pipeline, the German newspaper Bild reported on Saturday, citing sources and a speech given by James Risch, Chairman of the US Senate Committee on Foreign Relations, at a security conference in Halifax.
The opponents of the pipeline’s construction plan to get sanctions imposed “in a roundabout way” on the European companies involved in the realization of the project.
Essentially, the sanctions against Gazprom’s …
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Kyiv demands seizure of Gazprom’s assets in Latvia
According to Gazprom's reports, Naftogaz of Ukraine filed a motion to the Latvian court to enforce the decision of the Arbitration Institute of the Stockholm Chamber of Commerce (SCC) in the case against the Russian gas giant Gazprom. The company is determined to recover $3 billion from the Russian gas giant.
According to Gazprom, the court hearing on this claim is scheduled for the end of April 2020. At the moment, the company is considering ways to protect its interests.
"On November 5, 2019 …
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Ukraine and Russia hold bilateral gas talks
Russia and Ukraine conducted bilateral gas negotiations in Vienna on November 28, the Russian media reported, citing the Russian Ministry of Energy.
The consultations were reportedly attended by Russian Energy Minister Alexander Novak, Gazprom CEO Alexey Miller, Ukrainian Minister of Energy and Environmental Protection Oleksiy Orzhel, and the directors of Naftogaz of Ukraine and the Operator of the Gas Transport System of Ukraine.
“The parties discussed Russian-Ukrainian collaboration in the …
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Russia's Gazprom warns Ukraine that it will ‘shut off the gas pipe’ on January 1
Naftogaz executive director Yuriy Vitrenko said that the company has already received a warning from Gazprom that, without a new gas transit contract, it will stop supplying gas to Ukraine’s gas transportation system (GTS).
“In a letter which Gazprom sent to Naftogaz it is written in black and white that on January 1 at 10:00 Moscow time (09:00 Kyiv time) Gazprom will have no reason send gas to Ukraine,” Vitrenko told Deutsche Welle in an interview. He explained that, in saying this, Gazprom …
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Ukraine willing to accept gas in lieu of Gazprom’s $3 billion debt
Naftogaz of Ukraine has responded to Gazprom’s official one-year gas transit proposal, Yuriy Vitrenko, executive director of the Naftogaz group, wrote on Facebook.
He effectively confirmed that Ukraine finds the proposal unacceptable, and pointed out that “Gazprom has every opportunity to sign a new long-term contract for gas transit through Ukraine” according to European regulations. Ukraine is hoping that Russia will reserve transit capacity for 10 years.
Vitrenko remarked that even if it …
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US defense budget to include sanctions against Nord Stream 2
The US defense budget for 2020 will include a provision on sanctions against companies involved in the construction of the Nord Stream 2 pipeline, Republican Senator James Risch, Chairman of the US Senate Foreign Relations Committee, told Defense News on October 23.
The text of the sanctions has not yet been publicized, but the senator said that it is similar to the “Protecting Europe’s Energy Security Act”, which was sponsored by Senator Ted Cruz.
The bill will impose sanctions on the …
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Russian gas not needed in China
The gas demand in China is significantly lower than predicted by the Russian government, and a supply surplus has arisen on China’s internal market, Interfax Energy reports, citing the senior managers of Chinese energy companies.
In 2020 the surplus will be around 9 billion cubic meters (bcm), predicts Sinopec, China’s second largest oil and gas corporation by extraction volume.
With the Chinese government’s goal of using gas to provide 10% of the country’s energy mix by the end of 2020 (360 …
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Poland complains of overpaying billions for Russian gas
For several years, the Polish state-controlled oil and gas company PGNiG (Polskie Górnictwo Naftowe i Gazownictwo) has overpaid Russia’s Gazprom at least €230 million per year, PGNiG CEO Piotr Woźniak told TVP Info in an interview. He said that since 2014 at least, PGNiG has paid roughly one billion zloty (about €233 million) too much for Russian gas – the different between Gazprom’s prices and market prices.
Woźniak hopes that the Stockholm Arbitration Institute, which PGNiG has already …