Contents tagged with Gazprom
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Gazprom: Ukraine's Transit Fine Is an Attempt to Exert Pressure
Gazprom claimed that the Anti-Monopoly Committee of Ukraine (AMCU) has no authority to regulate the transit of Russian gas through Ukraine. This was reported by Interfax, citing the press service of Gazprom on Friday, January 22nd. The Russian gas giant said that the decision of the AMCU to impose a $3.47 billion fine upon Gazprom was an "attempt to exert pressure."
"This arouses extreme surprise, because Gazprom does not carry out any business activities on the territory of Ukraine by passing …
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Kiev Fines Gazprom $3.4 Billion
The Antimonopoly Committee of Ukraine (AMCU) fined Gazprom 85 billion Hryvnia (around 3.4 billion dollars) for an abuse of dominance in the gas transit market in Ukraine, as reported on 22 January, by the head of AMCU, Yuriy Terentyev. “The decision has just been made concerning the abuse of the dominant position in the market by the monopoly gas producer Gazprom. The amount of the fine is 85 billion Hryvnia," wrote Terentyev on his Facebook page. Yaroslav Teklyuk, Director for Legal and …
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Ukraine May Raise Transit Price for Gazprom
RIA Novosti reported that according to Ukrainian State Enterprise Energorynok, the tariff rate for transporting Russian gas through the territory of Ukraine may increase in 2016 from $2.73 to $4.07 per 1000 cubic meters per 100 kilometers. Taking into account a new method of calculating the transit cost approved by Kiev in the end of last year, it will cost Gazprom $7.91 per 1000 cubic meters.
According to the publication, the new method of calculating transit price is closely associated with …
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Russia’s natural resource hegemony continues to decline
With the lifting of sanctions against Iran and Tehran’s consequent participation in the global oil market, the price for Russia’s main export commodity—energy sources—continues to decline with no end in sight. With the fourth largest reserves in the world, Iran put its oil on the global market on Monday, contributing to oil prices dropping below $28 per barrel.
What is more, the recent events in the Russian gas supply market exacerbate the situation, as traditional markets for Russian natural …
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Construction of the South Stream Pipeline Postponed
The construction of the South Stream Pipeline remains suspended, as reported by Bulgarian National Radio based on Russian sources. Earlier the Standard, a Bulgarian newspaper, stated that the construction of the South Stream Pipeline may resume in the next few weeks. They reported that their sources stated that the delay is due to the deterioration of Russian-Turkish relations and the refusal of the Turkish Stream project which was discussed as an alternative to the South Stream.
On Monday, a …
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Yatsenyuk: Ukraine no Longer Purchases Gas from Russia
According to the Prime Minister of Ukraine, Arseniy Yatsenyuk, there are currently about 13 billion m3 of gas in Ukrainian storages.
Ukraine refused further Russian gas supplies, as stated by the head of the Ukrainian Government, Arseniy Yatsenyuk, in the program "10 minutes with the Prime Minister."
"On January 1st, the Russian Federation offered gas at the price of $212 per thousand m3. We do not buy gas from Russia, because we purchase gas from the European Union at a cheaper rate than we …
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With no one to sell to, Gazprom cuts natural gas purchases from Turkmenistan
The head of Russian natural gas giant Gazprom, Alexei Miller, recently reported to President Vladimir Putin that his company is able to harvest 617 billion cubic meters of gas annually, but last year it was able to sell only 444 billion, meaning the Public Joint Stock Company has a surplus of 173 billion cubic meters of natural gas.
While western sanctions against Russia do not specifically target hydrocarbons, the conflict in Ukraine has undoubtedly led many western countries to turn to …