Gazprom & Co.

Gazprom starts work on Kirinskoye

2009-07-07T08:05:00.001-07:00

07/06/2009 - PennEnergy - YUZHNO-SAKHALINSK -- Exploration drilling is under way on the Gazprom-operated Kirinskoye gas-condensate field offshore Sakhalin Island. Gazprom views this campaign as a key step towards creating a new gas production area offshore Sakhalin, serving Russia’s Eastern Gas program. It will also be the first project in the Sakhalin region performed solely by Russian companies

Gazprom spending spree troublesome

2009-07-07T07:50:00.001-07:00

MOSCOW, July 6, 2009 - (UPI) - Excessive spending on reserves and acquisitions in a poor economic climate could overextend Russian energy giant Gazprom beyond profitability, trends suggest. Despite modest energy prices and a lingering economic recession, Gazprom last week moved on a deal with Azerbaijan to tap the massive Shah Deniz field that has more immediate political ramifications than

Gazprom Ups Gas Output to Almost 1 Bcm

2009-07-07T07:25:00.001-07:00

July 3, 2009 -- MOSCOW. July 3 (Interfax) - Gazprom (RTS: GAZP) produced 998.3 million cubic meters of gas on July 1, up 48 million cu m or 5% from the end of the second quarter of this year but still 23% lower than average daily production in July last year, the Fuel and Energy Central Dispatch Center said. Daily output fell below 1 billion cubic meters for the first time this year on May 10.

Europe to get 35% of Russian gas via South Stream by 2015

2009-06-29T13:46:00.001-07:00

MOSCOW, June 26 (RIA Novosti) - The South Stream gas pipeline will account for 35% of Russian gas supplies to Europe by 2015, Gazprom CEO Alexei Miller said on Friday. "We have taken the decision to increase the pipeline's capacity to 63 billion cubic meters. This means it will account for 35% of all Russian gas supplies to Europe in 2015," Miller said at an annual meeting of Gazprom shareholders

Gazprom eyeing British markets

2009-06-29T13:37:00.001-07:00

MOSCOW, June 29 (UPI) -- Gazprom announced major plans to expand into the British energy market over the course of the next few years, corporate officials told shareholders. Gazprom chief Alexei Miller told officials at the annual shareholder meeting the energy monopoly could ship more than 266 billion cubic feet of natural gas to British markets each year. "Gazprom plans to account for 10

Russia seals Azeri gas deal

2009-06-29T13:35:00.001-07:00

06-29-2009 - Upstream OnLine - Russian gas giant Gazprom signed a gas supply deal with Azerbaijan today, though the terms of the agreement remain unclear, according to reports. The news of the deal came as Gazprom chief executive Alexei Miller said the company would import a modest 500 million cubic metres of Azeri gas from 2010, a Reuters report said. The news agency quoted Miller as saying that

Gazprom: Deals near with Azerbaijan

2009-06-26T07:34:00.001-07:00

June 26, 2009 - Business Week-AP - Gazprom, the world's largest natural gas producer, said Friday it hoped to sign key deals in Azerbaijan next week, raising the possibility that Russia will secure Azeri gas to feed pipelines to Europe. "We enjoy good relations with Azerbaijan," chief executive Alexei Miller said at a shareholders' meeting at the company's Moscow headquarters. "And we hope that

Gazprom Aims For 10% Of UK Gas Market By 2011 - CEO

2009-06-26T07:31:00.001-07:00

JUNE 26, 2009 - Dow Jones - MOSCOW. Russian gas firm OAO Gazprom (GAZP.RS) plans to control 10% of the U.K. natural gas market by 2011, the company's chief executive, Alexei Miller, said Friday. Volumes of Russian gas sold on the U.K. market has tripled in the last few years, Miller told an annual shareholder meeting. Gazprom currently supplies 7.5 billion cubic meters of gas a year to U.K.

Gazprom may cut its investprogram by 30 pct this year

2009-06-25T07:55:00.001-07:00

MOSCOW, June 25, 2009 (Itar-Tass) - Gazprom intends to reconsider and to approve an adjusted budget of the holding in August-September this year. Andrei Kruglov, Deputy Chairman of the Board and head of the Gazprom financial and economic department, told a news conference here on Thursday, "This is normal practice for Gazprom to reconsider the parameters of the company’s budget on the strength of

Gazprom Sees No Reason for 'Panic'

2009-06-25T07:21:00.001-07:00

25 June 2009 - The Moscow Times by Anatoly Medetsky - Gazprom deputy chief Alexander Medvedev defended the company's sales policy on Wednesday, responding to reports that the gas producer has lost part of the lucrative European market. Customers were buying less gas only temporarily because they built up large reserves last summer in anticipation of higher prices at the start of this year, said

Gazprom Waits for Obama

2009-06-25T07:17:00.001-07:00

25 June 2009 - Moscow Times - Gazprom is hoping that the upcoming meeting between President Dmitry Medvedev and his U.S. counterpart, Barack Obama, will bless its proposal to invest in producing and transporting gas in Alaska, the company's deputy chief Alexander Medvedev said Wednesday. Gazprom last year discussed opportunities with BP and ConocoPhillips for participation in their planned

Gazprom defends export policies as sales plunge

2009-06-24T08:29:00.001-07:00

June 24, 2009 (Reuters by Simon Shuster) - MOSCOW, Russia's Gazprom (GAZP.MM) expects its sales to Europe to drop 40 percent this year, its export chief said on Wednesday, but sees European demand picking up from April as the average price in 2009 falls by a third. At a news briefing, Alexander Medvedev rebuffed accusations that a rigid pricing policy was to blame for the plummetting sales, and

Gazprom Sees 2009 Gas Export At 142.1B Cubic Meters

2009-06-24T08:24:00.001-07:00

24 June 2009 - MOSCOW (Dow Jones) - Russian gas firm OAO Gazprom (GAZP.RS) expects to export 142.1 billion cubic meters of gas to European markets this year, the company's deputy chief executive, Alexander Medvedev, said Wednesday. Medvedev also said European exports in the first half of the year will total 60 billion cubic meters, which is 26% lower than the company had planned.

Turkmenistan: Gazprom wants Ashgabat to give deep discount on natural gas

2009-06-24T07:51:00.001-07:00

June 23, 2009 - Eurasianet - Russian media outlets are reporting that the Kremlin-controlled conglomerate Gazprom is pushing for an almost 50 percent cut in the price it pays to the Turkmen government for natural gas. A Gazprom delegation headed by Alexander Medvedev, the company’s deputy board chairman, was in Ashgabat on June 23. Medvedev was expected to seek a downward revision in the gas

Russia's Gazprom to sign oil deal with Nigeria

2009-06-24T07:49:00.001-07:00

June 23, 2009 - (Reuters by Randy Fabi) - ABUJA, Gazprom (GAZP.MM) is expected to sign a joint venture agreement with Nigeria's state-run oil firm NNPC as part of the Russian president's visit to Africa's biggest oil producer on Wednesday, a senior Kremlin source said. Details of the deal were not available, but Gazprom in February said it was close to sealing a $2.5 billion oil and gas

Gazprom is king of the hill in Russian region

2009-06-23T08:06:00.001-07:00

06–23–2009 Associated Press — MOSCOW. Coming soon to the stunning snowcapped peaks of southern Siberia — probably the world's highest billboard. Leaders in the remote Russian region of Altai want to name one of the region's tallest mountains in honor of Gazprom, the state-run natural gas monopoly and corporate behemoth. It was unclear whether the mountain currently has a name. The Altai

Gazprom Neft on $1bn cash hunt

2009-06-22T15:36:00.001-07:00

06-22-2009 - Upstream OnLine - Gazprom Neft, the oil arm of Russian gas giant Gazprom, may issue up to $1 billion in bonds and raise a club loan as it weighs up buying a number of assets in Russia, Kazakhstan and Slovenia, as news emerged that the company had backed down over its choice of chief executive at Sibir Energy. Gazprom Neft boss Alexander Dyukov told Reuters the company was considering

Gazprom’s Miller May Earn $5.3 Million for 2008, Vedomosti Says

2009-06-22T15:17:00.001-07:00

June 19, 2009 (Bloomberg by Maria Kolesnikova) -- OAO Gazprom Chief Executive Officer Alexei Miller may earn $5.3 million for 2008, Vedomosti said. Miller may get about $2.8 million for being chairman of the gas producer’s oil unit, OAO Gazprom Neft, more than $500,000 for being deputy chairman of Gazprom and at least $2 million for being CEO, the newspaper said, citing company data and its own

Gazprom clinches Kyrgyz market

2009-06-22T08:15:00.001-07:00

BISHKEK, Kyrgyzstan, June 19, 2009 (UPI) -- In an attempt to revive its aging natural gas industry, Kyrgyzstan is turning to Russia's state-owned natural gas giant Gazprom. Kyrgyzstan's Belyi Parus newspaper reported Friday that according to the Kyrgyz government's latest official reports, Gazprom has agreed to purchase 75 percent of shares plus one share of the state gas enterprise Kyrgyzgaz. In

Gazprom warns on delays to key field

2009-06-16T09:36:00.001-07:00

June 16 2009 - Financial Times by Catherine Belton - Russia’s Gazprom, the world’s largest gas producer, warned on Tuesday it could delay the development of a flagship project crucial for future European supplies by one year in order to help cut spending by 15 per cent. Gazprom’s deputy chief executive, Alexander Ananenkov, said that the company could postpone the launch of the giant Bovanenkovo

Gazprom: 2010 Gas Output 507 BCM; Delays Major Field Launch

2009-06-16T08:55:00.001-07:00

MOSCOW (Dow Jones) -- Russian gas giant OAO Gazprom (GAZP.RS) expects to produce 507 billion cubic meters of gas in 2010, the company's Deputy Chief Executive Alexander Ananenkov said Tuesday. The company plans to produce 510 billion cubic meters and 523 billion cubic meters in 2011 and 2012, respectively, Ananenkov said. Ananenkov also said Gazprom will delay the launch of its key

Kyrgyzstan: Parliament approves sale of Kyrgyzgaz to Gazprom

2009-06-16T08:43:00.001-07:00

6/15/09 - Eurasia.net - The Kyrgyz parliament has approved a draft agreement on the sale of KyrgyzGaz to Russia's Gazprom. Gazprom hopes to take a 75-percent-plus-one share stake in the debt-ridden company. "In doing so, they are required to reliably supply gas to all consumers as well as to modernize and reconstruct the existing equipment, make major repairs of pipelines and all the debts that

Turkmenistan: Gazprom boss holds meeting with Berdymukhamedov

2009-06-16T08:18:00.001-07:00

6/15/09 - Eurasia.net - Gazprom boss Alexei Miller has held face-to-face talks with President Gurbanguly Berdymukhamedov in Ashgabat. Initial results appeared inconclusive. During their meeting "the parties emphasized the long-term nature of the Russian-Turkmen partnership in the gas sector. The discussion centered on the plans for strategic cooperation and the issues of interaction between

Gazprom losing to StatoilHydro in European market

2009-06-16T07:49:00.001-07:00

2009-06-15 - Barents Observer - Gazprom’s exports to the EU in the first quarter of the year dropped 35,3 percent. Meanwhile, StatoilHydro boosts its export and is now almost as big as the Russian producer in the European market. Gazprom and StatoilHydro might be allies in the High North and partners in the Shtokman gas project. However, in the European gas market, the two companies are tough

New Era For Gazprom, As Gas Giant's Fortunes Plummet

2009-06-15T07:18:00.001-07:00

June 10, 2009 RFE-RL by Bruce Pannier - It's been a tough year for Gazprom, Russia's state-controlled gas giant. Just a year ago, Russia's state-owned gas giant Gazprom was the third-most valuable company in the world, worth some $350 billion. Now, it has shrunk by two-thirds to about $120 billion, declining to the world's 40th-largest company, according to "The Moscow Times" on May 27. And the

Gazprom blasts market speculation

2009-06-15T07:13:00.001-07:00

PORTO CERVO, Italy, June 11,2009 (UPI) -- The mechanisms defining the price of oil need reassessment to produce a favorable climate for investors, officials with Russian energy Gazprom said in Italy. Alexei Miller, the chief executive for Gazprom, spoke at the 12th Annual General Assembly of the European Business Congress in Porto Cervo, Italy, on the economic climate in the energy sector. "The

German military asks for change to Nord Stream route - paper

2009-06-10T13:53:00.001-07:00

MOSCOW, June 10, 2009 - (RIA Novosti) - Germany's armed forces have demanded that the planned route of the Nord Stream gas pipeline linking to Russia be altered, Russian business daily reported Kommersant on Wednesday. The 6 billion-euro pipeline being built jointly by Russia and Germany under the Baltic Sea is planned to eventually pump 55 billion cu m of gas per year to Western Europe,

Gazprom Neft eyes $500m-$1bn Eurobond

2009-06-10T13:52:00.003-07:00

06-10-2009 - Upstream OnLine - Russia's Gazprom Neft , the oil arm of gas export monopoly Gazprom , plans to issue a Eurobond with a volume of $500 million to $1 billion in the coming months, the company said today. The company declined to comment on plans to raise a $300-400 million club credit, wrote Reuters.

Gazprom targets 10% of US gas market

2009-06-10T13:52:00.001-07:00

06-10-2009 - Upstream OnLine - Russian gas export monopoly Gazprom plans to raise deliveries to the US and eventually supply up to 10% of the the country's gas needs, a senior company official said on today. "The volumes we currently supply account for 0.5% of gas consumed (in the US). But with the gas from Shtokman and Yamal, our share will grow to 5% to 10%," Gazprom executive Alexander

Gas price rise good for Gazprom plans

2009-06-10T13:18:00.001-07:00

MOSCOW, June 9, 2009 (UPI) -- An increase in gas prices will finance liquefied natural gas projects for Gazprom and possible expansion into North America, company officials said. Alexander Medvedev told the Russian-language Ekho Moskvy radio station that he predicted third- and fourth-quarter price increases, suggesting those trends positioned Gazprom for exports into U.S. markets. In February,

Gazprom Aims to Supply Up to 10% of U.S. Gas Market

2009-06-10T13:12:00.001-07:00

June 9, 2009 (Bloomberg by Stephen Bierman) - OAO Gazprom, the Russian exporter of a quarter of Europe’s natural gas, is seeking as much as 10 percent of the U.S. gas market by 2020 after two Arctic liquefied natural gas projects start producing. “The volume which we have right now is just 0.5 percent of natural gas consumption of the United States but with gas out of Shtokman and, maybe Yamal

Gazprom aims to supply 5-10 pct of US gas needs

2009-06-10T13:06:00.001-07:00

MOSCOW, June 9, 2009 (Reuters) - Russian gas export monopoly Gazprom (GAZP.MM) plans to raise deliveries to the United States and eventually supply up to 10 percent of the world's biggest economy's gas needs, a senior company official said on Tuesday. "The volumes we currently supply account for 0.5 percent of gas consumed (in the United States). But with the gas from Shtokman and Yamal, our

Gazprom in talks with Novatek on joint LNG project in Siberia

2009-06-10T12:04:00.001-07:00

MOSCOW, June 9, 2009 (RIA Novosti) - Gazprom is holding talks with independent gas producer Novatek on its possible participation in a liquefied natural gas project in northwest Siberia, a Gazprom deputy CEO said on Tuesday. Alexander Medvedev said Gazprom will prepare a project feasibility study in early 2010 for LNG production on the Yamal Peninsula. The Yamal LNG plant will process the gas

Gazprom May Borrow $10.5 Billion From Russian Banks

2009-06-10T09:22:00.001-07:00

June 8, 2009 - (Bloomberg by Denis Maternovsky) - OAO Gazprom, Russia’s gas export monopoly, will seek approval from its shareholders to raise up to $10.5 billion in dollar, euro and ruble loans from state banks, it said in a statement on its Web site. Gazprom will ask a general shareholders’ meeting on June 26 to approve loans of as much as $6 billion from Vnesheconombank, Russia’s state

Gazprom and StatoilHydro pair up in north

2009-06-10T08:14:00.001-07:00

06-05-2009 - Upstream OnLine - The heads of Gazprom and StatoilHydro, Alexei Miller and Helge Lund, signed a three-year memorandum of understanding today to work together in exploring and developing northern regions of Russia and Norway. The agreement was signed in St. Petersburg today on the sidelines of the XIII International Economic Forum, and replaces the 2005 memorandum of understanding

E.ON inks pact for Yuzhno Russkoye gas field

2009-06-05T15:30:00.001-07:00

06-05-2009 - Scandinavian Oil&Gas - E.ON’s participation in the Yuzhno Russkoye gas field in Siberia has been finalised. Alexej Miller, CEO of OAO Gazprom, and Bernhard Reutersberg, CEO of E.ON Ruhrgas AG, signed a detailed agreement to that effect at a meeting in St Petersburg. E.ON’s acquisition of just under 25 % in Yuzhno Russkoye is to be completed this year. In return, Gazprom will take

E.ON gets a slice of Yuzhno Russkoye

2009-06-05T15:23:00.001-07:00

06-05-2009 - Upstream OnLine - Germany's E.ON group said today it has signed a deal to complete the acquisition of a 25% stake in the Siberian Yuzhno Russkoye gas field from Gazprom, wrapping up more than four years of preparation to co-own the strategic asset. Ruhrgas and Gazprom chief executives Bernhard Reutersberg and Alexei Miller signed the agreement in St Petersburg, Reuters quoted the

Gazprom, E.ON sign gas asset swap deal

2009-06-05T15:07:00.001-07:00

June 5, 2009 - (RIA Novosti) - ST. PETERSBURG, Russian and German energy giants Gazprom and E.ON signed on Friday an agreement to exchange assets in downstream and upstream gas operations. Under the deal, Gazprom will obtain 49% in the Russian energy trading company E.ON Gerosgas, which holds a 2.93% stake in Gazprom. In turn, E.ON will receive by the end of 2009 a 25% stake in the authorized

Gazprom CEO: May Cooperate With Shell On Yamal LNG Project

2009-06-04T15:49:00.001-07:00

06-04-2009 -(Dow Jones) - MOSCOW, Russian gas giant OAO Gazprom (GAZP.RS) is considering inviting Royal Dutch Shell PLC (RDSA) to participate in liquified natural gas projects on the Arctic Yamal Peninsula, Gazprom's Chief Executive Alexei Miller said Thursday. "I'm certain that the experience from joint work at Sakhalin-2 can lay the foundation of future cooperation in LNG, including on Yamal,"

Russian Gazprom placing15 bln rouble bonds--sources

2009-06-03T15:01:00.001-07:00

June 3, 2009 (Reuters by Yelena Fabrichnaya) - Russian gas export monopoly Gazprom (GAZP.MM) is selling 15 billion roubles ($488 million) of bonds, banking sources said on Wednesday, spurred by gains in the Russian currency and hopes for further rate cuts by the central bank. Gazprom, the biggest borrower in Russia, is placing 10 billion roubles and 5 billion roubles of bonds with one-year and

PGNiG Inks Deal With Gazprom For Gas Deliveries

2009-06-02T16:02:00.001-07:00

06-02-2009 - (Dow Jones by Marynia Kruk ) - WARSAW, Polish natural gas monopoly PGNiG (PGN.WA) has signed a deal with Russia's OAO Gazprom (GAZP.RS) to deliver 1 billion cubic meters of gas before Sept. 30, the company said in a statement Tuesday. This deal, which has been awaiting signatures since mid-May, will allow Poland to fill its underground gas storage facilities ahead of the winter

Gazprom Plans 3-5 Bcf/d of LNG Exports to North America, NGI Reports

2009-06-02T15:27:00.001-07:00

06-01-2009 - (BUSINESS WIRE) - DULLES, Va. Up to 1.5 Bcf/d of Russian liquefied natural gas (LNG) could make its way to North America by the end of this year, with more on the way long term, the managing director of Gazprom Marketing & Trading USA Inc. (GM&T) told gas buyers and sellers recently at the GasMart 2009 conference and trade show in Chicago. "We will begin marketing and trading in

Romania set ups joint venture with Gazprom

2009-06-02T15:22:00.001-07:00

06.01.2009 - Associated Press - Romania's Romgaz has set up a joint venture with Russia's Gazprom for underground gas storage facilities that will boost the country's ability to build gas stocks and could improve supplies to the European Union, the economy minister said Monday. Romgaz and Gazprom each own 50 percent of the joint venture, which will store natural gas and sell it directly, said

Gazprom reiterates Shtokman decision due Q1, 2010

2009-06-02T15:16:00.001-07:00

ABU DHABI, June 1, 2009 (Reuters by Luke Pachymuthu) - Russia's Gazprom (GAZP.MM) reiterated on Monday it expected to take an investment decision on its Shtokman gas project with partners Total (TOTF.PA) and StatoilHydro (STL.OL) in the first quarter of 2010. The partners should complete engineering and design on the project by the end of 2009, Rosario Sgarioto, marketing manager at Gazprom LNG,

Russia asks for Turkmen gas price cut

2009-06-02T14:58:00.001-07:00

01 June, 2009 - Upstream OnLine - Russia's Gazprom has demanded that Turkmenistan cut either the price or the volume of its natural gas, sounding another harsh note in an escalating dispute between the energy giants. The two have been in talks since April over how to resume the flow of gas after it was severed by a gas pipeline explosion, which Turkmenistan says Russia caused. Russia, which no

Gazprom Scrambles for LNG Market

2009-06-02T14:54:00.001-07:00

01 June 2009 - The Moscow Times by Anatoly Medetsky - Gazprom has announced that it is speeding up its plans to sell more gas by tankers to a wider range of customers as it faces a sharp drop in demand from its traditional consumers in Europe. "Trends on the global gas markets create conditions for Gazprom to increase the pace of producing and supplying liquefied natural gas," the company said in

Gazprom Takes Action to Step Up LNG Projects

2009-06-02T14:04:00.001-07:00

May 29, 2009 – Downstream OnLine – Gazprom's Management Committee has addressed the issue of stepping up liquefied natural gas (LNG) projects in the Russian Federation. For the purpose of promoting Gazprom's production and supply activities in the LNG sector, the Management Committee entrusted the Company's specialized subdivisions with the following assignments:• work out pre-investment

Gazprom says EU investment will prevent future cuts in gas deliveries

2009-06-02T13:48:00.001-07:00

29 May, 2009 - MosNews - Gazprom urged Europe and Russia to work together to prevent another crisis over natural gas supplies via Ukraine as a Bulgarian delegation held talks on a new supply contract to avoid a repeat of January disruptions, Bloomberg reports. Chief Executive Officer Alexei Miller discussed cooperation, including the South Stream pipeline project, with Bulgargaz AD head Dimitar

“Gazprom does not need Shtokman”

2009-05-29T14:12:00.001-07:00

2009-05-28 - Barents Observer – Gazprom does not have the need nor financing for the development of the Shtokman field in the Barents Sea, researcher Anders Aslund argues. “Since Gazprom has been forced to reduce its output, it has neither the need nor financing for the expensive development of its new mammoth fields, Shtokman in the Barents Sea and Yamal in the far northern tip of Siberia. Even

New name in TNK-BP ring

2009-05-26T13:03:00.001-07:00

05-26-2009 - Upstream OnLine - A potential second candidate for TNK-BP's top job has been mooted as news emerged today that the company's Russia-connected shareholders have suggested appointing an interim chief executive for three to six months before a final choice is made. A source close to the Russian shareholders told Reuters shareholders would consider a second candidate, Maxim Barsky, as a

Gazprom 'Ukraine may fail to pay gas bill'

2009-05-26T13:01:00.001-07:00

05-26-2009 - Upstream OnLine - The chief of Russia's Gazprom said that he is concerned Ukraine will not pay in full for this month's gas supplies. "We see the payment situation regarding gas supplies in May as very, very grave," Alexei Miller said. "If there is any disruption in payments for May supplies, Gazprom will have to move over to 100% advance payments." Gas export monopoly Gazprom says

Gazprom-Japan LNG spat reported

2009-05-26T12:28:00.001-07:00

26 May 2009 - Daily News – Fairplay.co.uk - GAZPROM sources have told Russian reporters that it has asked Japanese buyers of LNG to reduce delivery prices. Long-term delivery contracts for the LNG to be shipped to Japan obliged Gazprom, and the project company Sakhalin Energy, to start deliveries last September, the sources added. But Sakhalin Energy’s spokeswoman Yevgeniya Oleinikova told

Sibir Energy accepts Gazprom Neft takeover offer

2009-05-26T12:10:00.001-07:00

May 26, 2009 - Associated Press by Nataliya Vasilyeva - MOSCOW, London-listed Sibir Energy said Tuesday it had agreed to a takeover bid from Gazprom Neft, the oil arm of Russian gas monopoly Gazprom, in a deal which values the company at $3 billion. Gazprom Neft, Russia's fifth-largest oil producer, proposed a cash offer for the company's shares, except for the 40 percent owned by Bennfield

StatoilHydro in talks with Gazprom

2009-05-26T11:26:00.001-07:00

05-25-2009 - BarentsObserver - Norwegian energy major StatoilHydro is in “intense discussions” with Gazprom over joint projects in Russia, Norwegian newspaper Dagens Næringsliv reports. According to StatoilHydro spokeswoman Mari Dotterud, company CEO Helge Lund last Wednesday took part in a board meeting in the Shtokman Development AG. He also met with Gazprom leader Aleksey Miller and leader of

Gazprom, Slovenia sign 15-year gas supply agreement

2009-05-26T09:11:00.001-07:00

LJUBLJANA, May 22 (RIA Novosti) - Gazprom and Slovenia have agreed on a deal extending Russian natural gas supplies for another 15 years, the Russian communications and media minister said on Friday. The current agreement expires next year. Igor Shchyogolev said the agreement was signed between a Gazprom subsidiary and Slovenia's state-controlled Geoplin. The Slovenian economy minister said

Russia's Gazprom to slash production due to global recession

2009-05-26T08:30:00.001-07:00

05-22-2009 - The Moscow News - Gazprom has given a pessimistic forecast for the production of natural gas in 2009, stating volumes may fall up to 18 percent. In 2008, Russian state-owned gas giant OAO Gazprom produced 549.7 billion cubic meters of gas, Gazprom’s spokesman Alexander Ananenkov told Interfax Friday. The planned production of gas for 2009 was reported at 492 billion cubic meters (a

Kiev and Moscow in gas deadlock

2009-05-26T08:25:00.001-07:00

05-22-2009 - Upstream OnLine - Russia and Ukraine failed to reach a decision on the issue of Ukraine's gas storage, Ukrainian Prime Minister Yulia Tymoshenko said after talks today with her Russian counterpart Vladimir Putin. "There has been no decision worked out on this yet," Tymoshenko said. "But I believe that we will find a compromise." "I'm sure we will find mutual understanding on how to

Gazprom output 'set to slide'

2009-05-26T08:19:00.001-07:00

05-22-2009 - Upstream OnLine - Russian gas giant Gazprom faces a drop in natural gas output of up to 18% this year, a senior company executive said. Aleksandr Ananenkov, the deputy head of the gas export monopoly, told Interfax news agency: "The volume of gas production, considering real consumption on the market, could be 450 billion to 510 billion cubic metres of gas." In 2008 Gazprom produced

Russia's Gazprom Neft targets bigger Sibir stake

2009-05-26T08:13:00.001-07:00

May 22, 2009 - (Reuters by Melissa Akin) - MOSCOW, Gazprom Neft, Russia's No.5 oil producer, wants to raise its stake in Sibir Energy to as much as 30 percent, Gazprom's broker said, prompting renewed speculation of a takeover approach. Russian investment bank Renaissance Capital, which is buying the shares on behalf of Gazprom Neft, the oil arm of gas giant Gazprom, said it would not go above 30

Gazprom to pay $1.5 billion for SeverEnergia stake

2009-05-26T08:01:00.001-07:00

May 21, 2009 - Oil & Gas Journal by Uchenna Izundu – LONDON, Eni SPA and Enel SPA will assign to OAO Gazprom a 51% stake in SeverEnergia, a Russian holding company with exploration and production licenses. The deal is expected to close in June. Enel and Eni have given Gazprom until 2010 to pay the $1.5 billion for the stake in two tranches. "As a result of the transaction, Eni and Enel's equity

Joint Romanian-Russian commission seeks solutions for Romgaz-Gazprom direct cooperation links

2009-05-26T07:40:00.001-07:00

05-21-2009 - Act Media News - Moscow held talks between members of the Romanian delegation and the Russian authorities were positive, and a joint commission was set up, which is going to present in two months to the energy ministries in the two countries solutions for Romgaz-Gazprom direct cooperation links, announced on Wednesday Romanian Economy Minister Adriean Videanu on a TV channel. He

Turkmenistan: a final warning for Russia’s Gazprom?

2009-05-26T07:35:00.001-07:00

05-21-2009 - Eurasianet - Russian officials have sought recently to portray a gas transit dispute between Russia and Turkmenistan as close to resolution. But officials in Ashgabat apparently beg to differ. A commentary distributed by the Turkmen state news agency on May 21 suggests that if Moscow doesn’t address Turkmen concerns soon, Ashgabat will scrap its present energy export arrangement and

Gazprom says not expecting net loss in Q4 2009

2009-05-21T09:23:00.001-07:00

* Deputy CEO disputes analysts' forecasts of Q4 loss* Financial investments may be cut by around 30 pct in 2009* Main capex plans are not under review 05-20-2009 - Reuters by Denis Pinchuk - ST PETERSBURG, Russian gas export monopoly Gazprom (GAZP.MM) does not expect to see a net loss in the fourth quarter of 2009, the company's deputy chief executive said on Wednesday. Gas prices follow oil

EU may face gas supply shortages without new pipelines - Gazprom

2009-05-21T09:09:00.001-07:00

BERLIN, May 19 (RIA Novosti) - Without new supply routes from Russia, Europe will struggle to receive the additional 80-100 billion cubic meters of gas it will need by 2020, a top official at Russian energy giant Gazprom said on Tuesday. "Those European politicians, who are trying to block Russia's construction projects for new gas pipelines, bear great responsibility," the Gazprom Deputy CEO

Gazprom Doesn't See Steep Fall In European Gas Demand

2009-05-19T11:49:00.001-07:00

May 19, 2009 -(Dow Jones by Jan Hromadko) - BERLIN - Russian natural gas monopoly OAO Gazprom (GAZP.RS) Deputy Chairman Alexander Medvedev said he Tuesday he doesn't expect the recession will result in a considerable decline in gas demand in Europe. "We must not forget that the first quarter of 2009 was a peak price quarter and we expect demand will stabilize once prices come down further,"

Gazprom Executive: GDF Suez Entry Supported By All Partners

2009-05-19T11:33:00.001-07:00

05–19–2009 – BERLIN – (Dow Jones) - GDF Suez SA's (GSZ.FR) planned entry into the Nord Stream pipeline project, which will transport natural gas from Russia to western Europe through the Baltic Sea, is being supported by all consortium members, said Alexander Medvedev, deputy chairman of OAO Gazprom's (GAZP.RS) executive board, Tuesday. Medvedev told reporters at a conference hosted by the

Russian gas giant Gazprom slashes dividends to 1/7

2009-05-19T09:42:00.001-07:00

05-18-2009 - MosNews - Following an order of the Russian government, state-owned gas giant Gazprom is slashing its dividends to a seventh of the 2007 sum. The government has told Gazprom to cut the dividends for 2008, Interfax reports. The board of directors decided to set the dividend payments at 0.37 rubles ($0.011) per share, which is a seventh of what it was in 2007, when the shareholders

Gazprom says offshore pipelines would lower transit risks

2009-05-19T09:23:00.001-07:00

5/18/2009 - Daily News Bulletin by ProQuest LLC - MOSCOW: Gazprom (RTS: GAZP) believes new offshore gas pipelines need to be built to develop the European gas transportation system, a source at the company told journalists on Friday. In the run-up to the signing of an agreement between Gazprom and Italian, Greek, Serbian and Bulgarian energy companies on the South Stream gas pipeline, the source

Enel, Eni Sell 51% Stake In SeverEnergia To Gazprom For $1.5B

2009-05-18T16:01:00.001-07:00

05-15-2009 - (Dow Jones)- ROME -Italy's two biggest energy companies, Enel SpA (ENEL.MI) and Eni SpA (E), said Friday they have agreed to sell a 51% stake in Russian company SeverEnegia to OAO Gazprom (GAZP.RS) for about $1.5 billion, in a move widely expected by the market. In a statement, the two companies said Enel will receive about $600 million and Eni $900 million. The amounts will be

Gazprom Is Ready to Buy All Gas From Nabucco Base in Azerbaijan

2009-05-15T08:21:00.001-07:00

May 15, 2009 - (Bloomberg by Torrey Clark and Stephen Bierman) - OAO Gazprom, the world’s largest natural gas producer, is ready to buy all the gas from the second stage of an offshore Azeri development slated as a resource base for the Europe-backed Nabucco pipeline project. “We’re ready to buy the whole volume of Shah Deniz II,” Gazprom Deputy Chief Executive Officer Alexander Medvedev said in

Bidding Begins for Shtokman Contracts

2009-05-15T08:16:00.001-07:00

15 May 2009 - The Moscow Times by Anatoly Medetsky - The Gazprom-led international company set up to develop Shtokman, a huge offshore Arctic gas field, has opened up bidding for contracts in a step that will better define the project's costs by the end of the year. Shtokman Development AG will invite more bids over the next few weeks in addition to the offers it has already posted on its web

German E.ON hopes to ink Russian Yuzhno-Russkoye gas deal in June

2009-05-15T07:16:00.001-07:00

13 May 2009 - (Platts) - London - German energy giant E.ON hopes to sign a deal with Russia's Gazprom over a stake in the West Siberian Yuzhno-Russkoye gas field in June, E.ON said Wednesday. In its Q1 results report, E.ON said that "our discussions with Gazprom regarding our acquisition of a roughly 25% stake in Yuzhno-Russkoye... are in the final stages. The detailed contracts for the

Gazprom Delivers First Sakhalin LNG Cargo to India

2009-05-14T15:51:00.001-07:00

May 14, 2009 - Datamonitor News - Gazprom Global LNG, an affiliate of Gazprom Marketing & Trading, has delivered the first cargo of liquefied natural gas from Sakhalin, Russia to India. The cargo was bought by Total Gas & Power and was discharged at the Hazira regasification terminal in Gujarat. The cargo was shipped on board the Grand Mereya liquefied natural gas (LNG) carrier, which is on

Mitsui in talks with Gazprom to expand tie-up

2009-05-14T15:45:00.001-07:00

May 13, 2009 - Reuters by Sachi Izumi - TOKYO - Japanese trading house Mitsui & Co is in talks with Gazprom to expand their alliance on the Russian gas export monopoly's projects in Russia, it said on Thursday. Mitsui, fellow Japanese trading firm Mitsubishi Corp and Royal Dutch Shell are Gazprom's partners at the Sakhalin-2 project, which recently shipped Russia's first liquefied natural gas to

Gazprom in Talks With Mitsui on Russian Gas Fields, Nikkei Says

2009-05-14T15:35:00.001-07:00

May 14, 2009 - Bloomberg by Fergus Maguire -- OAO Gazprom is in talks with companies including Mitsui & Co. to develop gas fields in Eastern Siberia and the Barents Sea, Nikkei English News said, citing an interview with Alexander Medvedev, deputy chief of the Russian natural-gas exporter. Gazprom wants Mitsui to help develop the Chayanda and Shtokman gas fields and construct liquefied natural

Gazprom agrees on Greek firm's role in South Stream gas project

2009-05-13T08:36:00.001-07:00

ATHENS, May 12, 2009 (RIA Novosti) - Gazprom and a Greek gas company have agreed on setting up a consortium to build the South Stream gas pipeline section across Greece, a source close to the negotiations said on Tuesday. "The accords have been agreed upon and their signing is expected in coming days," the source said. The South Stream pipeline is designed to annually pump 31 billion cubic meters

Polish gas monopoly PGNiG reaches deal on gas deliveries with Gazprom

2009-05-13T07:51:00.001-07:00

May 12, 2009 – Associated Press – WARSAW, Poland — Poland's gas monopoly PGNiG said Tuesday it had reached a deal with Gazprom to receive 1.024 billion cubic meters (1.34 billion cubic yards) of natural gas from the Russian company through the end of September. PGNiG, or Polskie Gornictwo Naftowe i Gazownictwo, estimated the value of the agreement at around $300 million, but said the final value

Eni CEO To Go To Russia Wed On South Stream; Still No Deal

2009-05-13T07:49:00.001-07:00

05-12-2009 (Dow Jones) -- ROME, Eni SpA (E) Chief Executive Paolo Scaroni said Tuesday he will meet with Russian officials Wednesday to seek a deal on the South Stream natural gas pipeline project it has with OAO Gazprom (GAZP.RS), as the two energy companies appear to be far from agreement. Scaroni, on the sidelines of a conference in the Egyptian Red Sea resort of Sharm el Sheik, told reporters

Gazprom, Eni disagree over South Stream role

2009-05-07T14:58:00.001-07:00

May 7, 2009 - Reuters by Alberto Sisto - ROME, A dispute has erupted between Italian oil major Eni SpA and Russian state-controlled Gazprom over the role Eni will play in the South Stream gas pipeline, an Italian government source said on Thursday. The Gazprom-led project aims to bring Russian, Caspian and Central Asian gas to Europe and is a rival to the European Union-backed Nabucco pipeline,

Gazprom's Murky Games in Hungary

2009-05-06T07:39:00.001-07:00

May 5, 2009 - Eurasia Daily Monitor by Roman Kupchinsky - Gazprom may be preparing to take over a large part of the Hungarian domestic gas distribution network. A new, highly opaque deal is in the works as a result of which Hungary's energy security could be threatened. On April 28 Emfesz KFT, a major Hungarian gas distribution company owned by Ukrainian businessman Dmytro Firtash, announced that

Sakhalin-1 to sell 20pct of gas to Gazprom

2009-05-06T07:34:00.001-07:00

May 5, 2009 – (Reuters by Simon Shuster) - MOSCOW, The Sakhalin-1 consortium has agreed to sell 20 percent of the natural gas extracted from the large oil and gas project to Russian gas export monopoly Gazprom, Nikkei reported on Tuesday citing unnamed sources. The price of the gas, which has been the main sticking point in talks over the sale, is still being negotiated, the Japanese business

Gazprom's Medvedev included in Time most influential list

2009-05-01T07:28:00.001-07:00

May 1, 2009 – (RIA Novosti) - NEW YORK, Gazprom's deputy CEO Alexander Medvedev has been named in Time magazine's top 100 most influential people on the planet for 2009. Medvedev, described as Russian energy giant Gazprom's "link to the outside world," is listed among the Builders and Titans category, which also includes U.S. Treasury Secretary Timothy Geithner and designer Stella McCartney. "

Gazprom, Shell May Expand Venture

2009-04-30T12:05:00.001-07:00

30 April 2009 - Bloomberg - Royal Dutch Shell said it is examining plans with Gazprom to expand Sakhalin projects beyond their liquefied natural gas venture in the Far East. The partners plan "to look for further opportunities in the Sakhalin area, and we are working on that," chief financial officer Peter Voser said Wednesday on a conference call. The Sakhalin project is going well and will be

Gazprom's Q4 Profit Falls 84%

2009-04-30T07:55:00.001-07:00

04-30-2009 - Reuters, Bloomberg, Moscow Times - Gazprom on Wednesday reported fourth-quarter profits down 84 percent year on year, citing over $1 billion in write-downs as it braced for a slowdown in its key domestic power generation market. "The negative macroeconomic background characterized by the slump in global oil prices in the second half of 2008 and an ongoing decrease in demand for fuel

Bad debts slug Gazprom numbers

2009-04-30T07:13:00.001-07:00

04-29-2009 - Upstream OnLine - Russian gas giant Gazprom's profit attributable to shareholders for 2008 came in at 742.9 billion roubles ($22 billion), missing forecasts, with its bottom line hit by bad debts. The profit was equivalent to $29.9 billion at 2008's average rouble rate of 24.81 per dollar. The rouble has fallen sharply since the start of the fourth quarter. In rouble terms, profits

Gazprom posts FY 2008 Net Profit of 771.38 billion Roubles

2009-04-29T07:41:00.001-07:00

29 April, 2009 - Russia Today - The worlds largest gas company, Russia’s Gazprom, has posted a FY 2008 Net Profit of 771.38 billion Roubles under IFRS. The FY 2008 bottom line was up 13% on the FY 2007 Net Profit of 694.98 billion Roubles, as adjusted EBITDA rose 64% year on year to 1.46 Trillion Roubles, on the back of Revenues of 3.519 Trillion Roubles, up 45%. The FY result saw a 9% increase

Russia's Gazprombank reports 2008 loss

2009-04-29T07:38:00.001-07:00

April 29, 2009 - (Reuters by Oksana Kobzeva) - MOSCOW, Gazprombank, the banking arm of Russian state energy company Gazprom (GAZP.MM), reported a net loss of 60.1 billion roubles ($1.8 billion) for 2008, the first major Russian bank to report a loss last year. The bank, which reported a 33.6 billion rouble profit in 2007, said the loss, calculated under International Financial Reporting Standards

Gazprom’s positions in Europe shattered

2009-04-28T09:00:00.001-07:00

28 April 2009 - Sofia FOCUS News Agency - Gazprom has sustained three strong blows on its European positions these days, Nezavisimaya Gazeta reads. The first blow came from the European Parliament (EP) and its package of measures for energy market liberalization, which in fact ditched Gazprom’s aspirations for direct access to European consumers. Then was Turkmenistan’s support for Nabucco. And

Eni closes deal to sell 20% in Gazprom Neft to Gazprom

2009-04-24T08:05:00.001-07:00

MOSCOW, April 24, 2009 - (RIA Novosti) - Eni has closed the deal to sell a 20% stake in Russian oil producer Gazprom Neft to its parent company, Gazprom, for $4.2 billion, the Italian energy giant announced on Friday. The deal stipulated in a bilateral agreement signed between the two energy giants on April 7 gives Gazprom control of a total of 95.68% in its oil arm. Eni CEO Paolo Scaroni said

Gazprom Neft buys minority stake in Sibir Energy

2009-04-24T08:03:00.001-07:00

MOSCOW, April 24, 2009 (RIA Novosti) - Gazprom Neft has bought a minority stake in oil producer Sibir Energy, the oil arm of Russian energy giant Gazprom said on Friday. The acquisition places Gazprom Neft in control of some 16% of Sibir Energy, with a market value estimated at just 675.5 million British pounds ($992 million). It controls half of the Moscow Refinery and holds a 50% stake in Salym

Bulgaria wants from Russia more profitable contract with “Gazprom”

2009-04-24T07:42:00.001-07:00

04-24-2009 - Bulgaria News - A week ago Bulgaria has requested from Russia a new, more profitable for Bulgaria contract with “Gazprom” for the supplies of natural gas. This announce the minister of energy Peter Dimitrov at the opening of the business forum within the summit held in Sofia, cited by darik.net. The new contract should include more profitable for Bulgaria transit taxes and should

Gazprom Sees $900M Dividend

2009-04-23T15:05:00.001-07:00

23 April 2009 - Moscow Times - Gazprom's board of directors recommended that the gas monopoly pay out dividends of 30.3 billion rubles ($900 million), or 1.28 rubles per share, for 2008, Interfax on Thursday cited a source close to the company as saying. The annual shareholders meeting, where the dividends will be decided on, will take place on June 26. The recommended payout is nearly twice that

Gazprom’s big Eurobond sale

2009-04-23T09:34:00.001-07:00

//The Russian gas monopoly has turned to the securities market for much-needed funds 04-22-2009 - FSU Oil&Gas Magazine by Nnamdi Anyadike • Gazprom’s latest bond issue has pulled in US$2.25 billion• The company’s need for money will increase as it moves forward with plans to develop new reserves • Russia’

Gazprom, E.ON could close Siberian asset deal in summer

2009-04-23T07:18:00.001-07:00

MOSCOW, April 23, 2009 (RIA Novosti) - Gazprom and Germany's E.ON could close a deal for the German company to join the development of northwest Siberia's Yuzhno-Russkoye oil and gas field as early as the summer, the E.ON head said on Thursday. "We hope that it [the deal] will be closed in the second half of the year, possibly in summer," Wulf Bernotat said in an interview with business daily

Russia Gazprom Neft buys Chevron plant in Italy

2009-04-22T09:11:00.001-07:00

April 22, 2009 - (Reuters by Svetlana Kovalyova) - MILAN, Russia's Gazprom Neft, the oil arm of gas giant Gazprom, has bought a lubricants plant in Italy from U.S. company Chevron as it aims to expand abroad, Gazprom Neft said on Wednesday. Gazprom Neft has not revealed the price of the deal but said in a statement it expected production and marketing synergies from the deal with the Serbian

Gazprom prepares for testing of Prirazlomnaya

2009-04-22T08:45:00.001-07:00

04-21-2009 - BarentsObserver - The Prirazlomnaya platform will be handed over to Gazprom in 2010, after which testing of the ice-protected platform will start in the Barents Sea. The financial crisis has not affected the construction of the Arctic platform, construction yard Zvezdochka maintains. Speaking at a congress in Moscow yesterday, Zvezdochka leader Vladimir Nikitin said that the

Gazprom: Talking To GDF To Enter Nord Stream Pipeline Project

2009-04-21T08:26:00.001-07:00

21 April 2009 - FRANKFURT - (Dow Jones by Jan Hromadko and Jacob Gronholt-Pedersen ) - The shareholders of the Nord Stream pipeline project, which will transport natural gas from Russia to western Europe via the Baltic Sea, are in talks with GDF Suez SA (GSZ.FR) over the French company entering the consortium. A spokesman for Russian natural gas monopoly OAO Gazprom (GAZP.RS), which leads the

Gazprom delegation visits Kyrgyz Republic

2009-04-20T08:10:00.001-07:00

19 Apr 2009 - Steel Guru - Gazprom has announced that its delegation led by Mr Valery Golubev, Deputy Chairman of the Company’s Management Committee, paid a working visit to the Kyrgyz Republic. As part of the visit Mr Valery Golubev met with Mr Igor Chudinov Prime Minister of the Kyrgyz Republic and Mr Tursun Turdumambetov, Chairman of the Kyrgyz State Property Committee. The parties addressed

Azerbaijan President’s Moscow visit puts gas into buyers market

2009-04-20T08:03:00.001-07:00

17 April, 2009 - Russia Today - Azerbaijan may sell its gas from the Shakh Deniz field to Gazprom. The Azeri President confirmed his country’s interest in the deal during his visit to Moscow, but didn’t give final approval. The meeting of Azeri President Ilham Aliyev with Dmitry Medvedev in Moscow was expected to hammer out a gas deal under which Baku will sell blue fuel to Gazprom. The company

Azeri gas for European energy security

2009-04-20T07:49:00.001-07:00

April 17, 2009 (UPI) - BAKU, Azerbaijan is interested in all natural gas projects that will improve energy security with potential European partners, its top oil chief said Friday. Rovnag Abdullayev, president of the State Oil Co. of Azerbaijan Republic, said during a meeting Friday with Swiss officials in Baku that interest in the natural gas potential in his country is growing, the Today.Az