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Tag Archive for Energy

Putin Doesn’t Make Decisions Under Pressure, Sechin Says

Igor Sechin file photo

(Bloomberg – bloomberg.com – Ilya Arkhipov, Ryan Chilcote – September 30, 2014) President Vladimir Putin won’t be swayed by sanctions over Ukraine because he doesn’t allow such pressures to affect his decisions, said Igor Sechin, head of OAO Rosneft (ROSN), Russia’s biggest oil company. “He will never let himself be pressured into making a decision,”

Business New Europe: Russia has eager new oil and gas customers in Asia

Gas Facility file photo

(Business New Europe – bne.eu – Chris Weafer of Macro-Advisory – September 25, 2014) Chris Weafer is Senior Partner at Macro-Advisory, which offers bespoke Russia-CIS consulting. The main focus of Western sanctions against Russia has been to cause disruption to the banking and oil sectors. The former has directly squeezed the availability of liquidity on

Interfax: Sanctions against Russia already affecting production of tight reserves, could impact shelf

Oil Worker file photo

KHANTY-MANSIISK. Sept 10 (Interfax) – The sanctions imposed by the EU and U.S. against Russia are already affecting the production of tight reserves, Russian Natural Resources Minister Sergei Donskoi said at a briefing in Khanty-Mansiisk. “The sanctions, first due to technology, have not yet impacted [the country's economy], but are already affecting the production of

Gazprom’s Grip on Russian Gas Exports Weakens as Novatek Gets Export License

Gas Flame file photo

(Moscow Times – themoscowtimes.com – Alexander Panin – September 9, 2014) Novatek, Russia’s largest independent gas producer, has been granted a license to export liquefied natural gas, or LNG, marking the next step on Russia’s gradual liberalization of a market dominated by state-owned giant Gazprom. Deputy Energy Minister Kirill Molodtsov told the TASS news agency

RIA Novosti: Prime Minister Yatsenyuk: Ukraine to Become Independent From Russian Gas in Five Years

Arseniy Yatsenyuk file photo

MOSCOW, September 8 (RIA Novosti) – Kiev will stop being dependent on Russian gas in five years, Ukrainian Prime Minister Arseniy Yatsenyuk said in an interview to Ukraine’s 1+1 television channel. The “victory” is achieved when Ukraine will not buy Russian gas at all, which could be accomplished in a five-year period, Yatsenyuk said in

Gas war seen as next phase of Russia-Ukraine conflict

Gas Flame file photo

(Business New Europe – bne.eu – Ben Aris in Moscow – September 8, 2014) [Charts here http://www.bne.eu/content/story/gas-war-seen-next-phase-russia-ukraine-conflict] Even if a lasting ceasefire in eastern Ukraine can be secured, the cessation of military hostilities will only mark the beginning of a new fight. The battle between Russia and Ukraine over gas supplies is about to restart

RIA Novosti: Economy Minister Confirms Russian Plans to Privatize 19.5% in Rosneft Oil Company in 2015

File Photo Rosneft and Russian Flags Next to Rosneft Banner

MOSCOW, August 28 (RIA Novosti) – The Russian government is to go ahead with plans to privatize a 19.5 percent stake in oil major Rosneft in 2015, likely in two stages, Russian Economic Development Minister Alexei Ulyukayev said Thursday. “The [government] plan is being upheld and preliminary operations have already begun. We are talking about

Economy faces challenge from fall in oil price and ruble value

Oil Well file photo

(Russia Beyond the Headlines – rbth.ru – Alexei Lossan, RBTH – August 25, 2014) Low price-per-barrel for Urals crude oil is putting pressure on the Russian budget On Aug. 18, Reuters reported that the price for Russia’s benchmark Urals oil fell to $98 a barrel – its lowest level since May 2013. Even as recently

RIA Novosti: Russian Finance Ministry Expects Oil Prices of $90-95 per Barrel in 2015

Oil Well file photo

MOSCOW, August 26 (RIA Novosti) – Russia’s Ministry of Finance expects an average oil price of $90-95 per barrel in 2015, Deputy Finance Minister Alexei Moiseyev told RIA Novosti on Tuesday. “The price for oil in 2015 will be $90-95 per barrel,” Moiseyev said. The Ministry of Economic Development earlier predicted an average oil price

Ukrainian sanctions on Gazprom could threaten European economy

Russian Gas Facility file photo

(Russia Beyond the Headlines – rbth.ru – Kira Egorova, Anna Kuchma, RBTH – August 19, 2014) On August 14, the Ukrainian parliament passed a law enabling Kiev to introduce sanctions against Russian companies, meaning that if measures are introduced against Gazprom, the transit of Russian gas through Ukrainian territory will be blocked. What threats does

Business New Europe: Sanctions aim at Russia’s Arctic push

Polar Map Showing Permafrost Areas, Adapted From NOAA.gov Graphic

(Business New Europe – bne.eu – Joe Parson in Moscow – August 21, 2014) US and EU sanctions are threatening to derail a monster exploration and production project in the Russian Arctic between state-owned Rosneft and US oil major ExxonMobil. The threat is not that Washington will pressure US companies to pull out of Russian

Struggling With Sanctions, Russia Faces Oil Price Crash

Oil Well file photo

(Moscow Times – themoscowtimes.com – Alexander Panin – August 20, 2014) The price of Urals crude oil, Russia’s key export and the lynchpin of its government finances, fell below $100 this week for the first time in more than a year, after plummeting $15 in under a month. Russia relies on hydrocarbon exports for 50

Ukraine’s Next Crisis? Economic Disaster

Maidan Square file photo

(Oilprice.com – Robert Bensh – August 18, 2014) Ukraine’s next crisis will be a devastatingly economic one, as violent conflict destroys critical infrastructure in the east and brings key industry to a halt, furthering weakening the energy sector by crippling coal-based electricity production. The Ukrainian military’s showdown with separatists in the industrial east has forced

RIA Novosti: Between Justice and European Courts’ Rulings on Russia: a Dangerous Gap

European Court of Human Rights Building file photo

(RIA Novosti – Alexander Mercouris – August 9, 2014) There is always going to be a gap between people’s understanding of what is just/unjust and formal court rulings. Law will always strive to catch up with changing societal attitudes to “justice” and “injustice.” But law will always more or less miserably fall behind, unless some

RIA Novosti: Ukrainian Transit Not Crucial For Russian Oil Deliveries to Europe – Transneft

Map of Western CIS/FSU and European Environs

MOSCOW, August 8 (RIA Novosti) – Russia has alternative routes to deliver oil to Europe if Ukraine decides to stop transit via its territory, but Hungary, Slovakia and Czech Republic will sustain losses, a spokesman for Russia’s oil transit monopoly Transneft said Friday. Russia delivers about 14 million tons of oil to European consumers via

Moscow Times: Who Is Benefiting From West-Russia Sanctions War?

Truck at Russian Border Crossing

(Moscow Times – themoscowtimes.com – Alexey Eremenko – August 6, 2014) The recent Western sanctions, the harshest in decades, are meant to stun Russia’s economy. But one person’s loss is another one’s gain – and this is also true for companies and countries in a globalized world. Following the U.S.’s example, the European Union last

U.S., EU Unlikely to Invest in Ukraine’s Gas System, Analysts Say

Gas Flame file photo

(Moscow Times – themoscowtimes.com – Ivan Nechepurenko – July 5, 2014) Ukraine’s move Friday toward attempting to sell nearly 50 percent in its gas pipeline system to EU and U.S. investors does not mean that Western buyers will rush to take up the offer, as the system’s value depends on a steady supply of Russian

EU Claims Right to Reverse Flow as Russia Protests

Gas Flame file photo

(The Moscow Times – themoscowtimes.com – July 4, 2014) EU Energy Commissioner Günther Oettinger on Thursday asserted European companies’ right to sell Russian gas back to Ukraine, flying in the face of warnings from Russian energy giant Gazprom as tensions continue to build over energy policy. Energy companies in the EU have an “absolute right to

Russia’s crack pipe to Europe

Gas Flame file photo

(Business New Europe – bne.eu – Nicholas Watson, Ben Aris, Tim Gosling, Rob Whitford – June 30, 2014) The growing confrontation between Russia and the West ranges across many fronts, none more significant than in an area of rural northwest Bulgaria, where in October workers began welding pipes that will feed a natural gas compressor

Why Russia needs to develop nuclear energy

Russian Nuclear Plant

(Russia Beyond the Headlines – rbth.ru – Andrei Frolov, special to RBTH – June 24, 2014) Andrei Frolov is editor in chief of the magazine Eksport Vooruzheny (Arms Exports). Russian expert discusses the importance of nuclear energy in Russia Russia inherited its nuclear energy sector from the Soviet Union and can take pride in the

RIA Novosti: Russia-EU Gas Transit Through Ukraine Compliant With Contract – Gazprom

Gas Facility file photo

MOSCOW, June 23 (RIA Novosti) – Russia’s EU-bound gas flows through Ukraine comply with transit contraparameters, Gazprom spokesman Sergei Kupriyanov said Monday. “The transit of Russian gas through Ukraine is flowing according to contract parameters with a volume over the last 24 hours of around 205 million cubic meters,” Kupriyanov said. Earlier on Monday, reports

Russia’s gamekeeper has turned poacher

Kremlin and Saint Basil's File Photo

(opendemocracy.net – Mikhail Kreindlin – June 20, 2014) Mikhail Kreindlin is an expert at Greenpeace Russia on specially protected areas. Russia has a vast number of nature reserves and national parks. But the government body supposed to be protecting them is in fact destroying many of them by allowing development and mining. In Russia, as

Why This Russian-Ukrainian ‘Gas War’ Is Different From The Others

Gas Facility file photo

(RFE/RL – Claire Bigg – June 17, 2014) Russia has halted gas supplies to Ukraine — a major escalation of a dispute in which Russia’s state-owned gas giant Gazprom is demanding that Kyiv settle its huge gas debt. But in many ways, what many have dubbed the third “gas war” between the two countries is

RIA Novosti: Moscow to Hold New Gas Talks Only After Kiev Clears its Debt – Russian Energy Minister

Gas Facility file photo

MOSCOW, June 18 (RIA Novosti) – Moscow only intends to resume trilateral gas talks after Ukraine repays its debt for Russian gas supplies, Energy Minister Alexander Novak said Wednesday. “First of all, we expect payments to be made on the debt for November-December and April-May deliveries. Only after this would we consider having talks, if

Interfax: Accidents on Ukrainian gas pipelines to continue, not enough invested in maintenance

File Photo of Blue Flame from Natural Gas

(Interfax – June 18, 2014) Accidents on Ukraine’s gas transportation system will continue because not enough is being spent on maintenance, Gazprom Deputy CEO Vitaly Markelov told journalists, commenting on yesterday’s blast and fire on the Urengoi-Pomary-Uzhgorod gas pipeline in Ukraine’s Poltava region. “The gas transportation system, ours and Ukraine’s, was created as a unified

Russia Beyond the Headlines: Press Digest: Kiev’s position on gas payments is ‘blackmail’

Collage of Russian Newspapers

(Russia Beyond the Headlines – rbth.ru – Darya Lyubinskaya, special to RBTH – June 17, 2014) RBTH presents a selection of views from leading Russian media on the latest gas crisis between Moscow and Kiev, which culminated yesterday with Russia cutting off supplies to Ukraine after talks had once again reached a dead end. Kommersant

Gazprom’s EU customers not at risk for now

Gas Flame file photo

(Business New Europe – bne.ru – Teneo Intelligence – June 17, 2014) Following the failure of negotiations on natural gas pricing and debt between Russia and Ukraine last weekend, Russian company Gazprom reduced supply volumes to Ukraine, the main transit country for gas delivered to Gazprom’s EU customers. However, Gazprom continues to deliver contracted amounts

Exactly what is a fair price for Ukraine to pay for Russian gas?

Gas Facility file photo

(Business New Europe – bne.eu – Ben Aris in Moscow – June 16, 2014) [Charts here http://www.bne.eu/content/exactly-what-fair-price-ukraine-pay-russian-gas] Russia cut Ukraine off from gas deliveries on June 16 after the emergency talks at the weekend to strike a new price for gas failed. From now on Russia won’t deliver any gas unless Ukraine pays for it

Looking down the Russia-China pipeline from Beijing’s end

China Map

(Business New Europe – bne.eu – COMMENT: Karine Hirn, Partner and Senior Advisor at East Capital – June 17, 2014) The $400bn Russian gas pipeline deal has been hailed as a game-changer for Russia, but what does it mean for China? Pipelines are the geopolitical equivalent of marriage and China has happily tied itself to

Russia accuses West of “protecting” Ukraine at gas talks

Sergei Lavrov file photo

(Interfax – Moscow, June 15, 2014) Moscow believes that there may be a third power behind Ukraine’s intransigent position in its talks with Russia over gas. Russian Foreign Minister Sergey Lavrov told Russian journalists on Sunday [15 June] that the Ukrainian authorities are making use of “impunity because they are being protected by our Western

Russia cuts Ukrainian gas supplies

Gas Flame file photo

(Business New Europe – bne.eu – June 16, 2014) Russia’s state-owned Gazprom cut Ukraine’s gas supply off at 10 a.m. Moscow time for failing to pay its bills after talks broke down ahead of a June 16 deadline. “This decision was taken due to systematic failure of Naftogaz Ukraine to pay,” Gazprom said in a

NEWSLINK: Russia’s Gazprom reduces gas to Ukraine after deadline passes

Gas Facility file photo

["Russia's Gazprom reduces gas to Ukraine after deadline passes" - Maria Kiselyova, Denis Pinchuk - June 16, 2014] Reuters reports on Russia’s move to ratchet back gas flows to Ukraine, with potential also to impact Russian gas supplies to the EU: Russian natural gas exporter Gazprom reduced supplies to Ukraine on Monday after Kiev failed

Interfax: Conditions proposed to Ukraine on gas shipments better than those in place under Yanukovych – Miller

File Photo of Blue Flame from Natural Gas

GORKI. June 16 (Interfax) – The conditions that were proposed to Kyiv during gas talks were better than the conditions in place under former Ukrainian president Viktor Yanukovych, Gazprom (MOEX: GAZP) CEO Alexei Miller said at a meeting with Russian Prime Minister Dmitry Medvedev. Firstly, the Russian side was ready to guarantee that the discount

RIA Novosti: Europe Ready to Consider Opal Pipeline For Future Gas Supplies – Gazprom

Gas Flame file photo

MOSCOW, June 16 (RIA Novosti) – If Ukraine disrupts Russian gas transit via its territory, the European Commission is ready to negotiate increased deliveries through the Opal pipeline, Gazprom CEO Alexei Miller said Monday. “We have discussed this issue with the European Commission. It is now as follows: if we record problems with transit via

Russia Sets Ukraine June 16 Deadline as Gas Talks Resume

Gas Flame file photo

(Business New Europe – bne.eu – Tim Ash, Standard Bank – June 12, 2014) Bloomberg reports that Russia gave Ukraine an extra six days to make payments for natural gas as the countries resumed European Union-brokered talks in Brussels on June 11. The new deadline is 10 a.m. Moscow time June 16, Alexey Miller, chief

RIA Novosti: Russia Ready to Review Ukraine’s Gas Debt, Scrap Prepayment Scheme – Energy Minister

Gas Facility file photo

BRUSSELS, June 11 (RIA Novosti) – Russia will not introduce advance gas payments for Ukraine and review its gas debt downwards if Kiev pays off $2 billion of its gas debt by June 16 and clears arrears in full by June 26, Energy Minister Alexander Novak said Wednesday. “It was suggested to review the payoff

NEWSLINK: Russian gas keeps flowing to Ukraine as deadline passes

Gas Facility file photo

["Russian gas keeps flowing to Ukraine as deadline passes" - Reuters - June 10, 2014] Reuters reports that Russian gas supplies to Ukraine and the EU have remained stable, despite the passing of a deadline over disputed Ukrainian gas bills.  Meanwhile, the European Commission continues to broker related negotiations. Natural gas supplies to Ukraine and the European Union

Russia Sees Underhanded Sanctions in Bulgaria’s Suspension of South Stream

Map of Commonwealth of Independent States, European Portion

(Moscow Times – themoscowtimes.com – Ivan Nechepurenko – June 10, 2014) Bulgaria’s decision to suspend construction of the Russia-led South Stream pipeline project on its territory, undermining Russia’s efforts to diversify its gas transportation infrastructure to Europe away from Ukraine, is an underhanded economic sanction thrust on Russia by the West, a top Russian diplomat

Nobody wants to give up energy cooperation with Russia – Putin

Oil Well file photo

(Interfax – Archangelsk, June 9, 2014) Other countries benefit from cooperation with the Russian Federation in the energy sector, Russian President Vladimir Putin believes. “Nobody is going to give up energy cooperation (with Russia – Interfax) voluntarily,” Putin said at a meeting with students in Arkhangelsk. Speaking about this, the head of state pointed out

Putin’s China Deal Won’t Help Russian Economy Much, Moscow Experts Say

China Map

(Window on Eurasia – Paul Goble – Staunton, June 5, 2014) The much-ballyhooed gas deal Vladimir Putin signed with Beijing will only have an “insignificant” impact on Russia’s economic development and state revenues, according to an analysis by experts at the Center of Development of the Moscow Higher School of Economics. Their 43-page report is

Gazprom Says U.S. Can’t Prevent European Reliance on Russian Gas

Gas Flame file photo

(Bloomberg – bloomberg.com – Elena Mazneva – June 3, 2014) OAO Gazprom (OGZD), Russia’s gas-export monopoly, said U.S. pressure won’t stop it from supplying fuel to Europe and increasing market share in the region. “We understand that the U.S., sitting high on a hill and independent of economic cooperation with us, is pushing Europe to

Russia and Ukraine pull back from the gas brink

Gas Facility file photo

(Business New Europe – bne.eu – Tim Gosling in Prague – June 3, 2014) Raising hopes that Moscow and Kyiv are now serious about finding a route out of the crisis in Ukraine, the EU reported late on June 2 that the pair is mulling a proposed compromise on gas. Russian state-controlled gas giant Gazprom

Russia Gives Ukraine Leeway on Gas as Five Rebels Killed

Gas Facility file photo

(Bloomberg – bloomberg.com – Elena Mazneva, Stephen Bierman, Daryna Krasnolutska – June 2, 2014) Russia gave Ukraine an extra week to pay in advance for gas supplies or risk a cutoff, as the Ukrainian government said its forces killed five pro-Russian rebels in an upsurge in fighting in the eastern city of Luhansk. Russian gas

RIA Novosti: Russia Demands Kiev to Pay Gas Debt in Full Before June 9

Gas Flame file photo

MOSCOW, June 2 (RIA Novosti) – Ukraine has to pay Moscow the remaining part of $2.2 billion gas debt and agree on payment schedule for April-May gas supplies before June 9, press-service of Russia’s Energy Ministry said Monday. “Before this deadline Ukraine has to pay the remaining part of $2.23 billion debt and also agree

Russia getting support from European Commission in Ukraine gas talks – Novak

Gas Facility file photo

(Interfax – June 2, 2014) The European Commission has effectively supported the Russian position in the second and third round of talks on payment of Ukraine’s gas debt to Russia, Energy Minister Alexander Novak said in an interview with Rossiya 24 television. “I consider that the European Commission has behaved quite constructively at these and

Sino-Russia gas deal represents a fundamental change

China Map

(Business New Europe – bne.eu – COMMENT: Jacob Grapengiesser of East Capital – June 2, 2014) After ten years of haggling, Moscow and Beijing finally signed off on game-changing $400bn gas supply deal, under which Russia will at first supply 38bn cubic metres (cm) of gas to China over 30 years from 2018. Moscow and

RIA Novosti: Preview: Russia, EU, Ukraine Attempt to Resolve Gas Dispute for Third Time

Gas Flame file photo

MOSCOW, May 30 (RIA Novosti) – Officials from Russia, Ukraine and the EU are set to hold talks in Berlin on Friday, a third attempt to resolve the gas dispute caused by Ukraine’s $4 billion outstanding gas debt. Russian Energy Minister Alexander Novak is also scheduled to meet with EU Energy Commissioner Gunther Oettinger on

Gazprom’s Miller says Ukraine will owe $5.2 billion by June 7

Gas Facility file photo

(Business New Europe – bne.eu – Tim Ash, Standard Bank – May 29, 2014) I guess that is the $2.5bn for the period to the end of March, another $1bn for April/May, and then $1.7bn in pre-payment for June, as previously demanded by Moscow. EU officials have suggested though that $4bn is owed to date,

EU proposed to repay to Gazprom half of Ukraine’s debt for April-May gas supplies as payment deadline nears

Gas Facility file photo

(Business New Europe – bne.eu – May 29, 2014) Gazprom, which earlier sent a prepayment bill to Ukraine, will limit gas supplies on June 3 if Kiev does not pay the advance bill for June, Gazprom CEO Alexei Miller said Wednesday at a meeting of President Vladimir Putin with the government, Prime reported. According to

Sechin Sues Forbes for ‘Highest-Paid Executive’ Rating

Igor Sechin file photo

(Moscow Times – themoscowtimes.com – May 28, 2014) Rosneft head Igor Sechin has filed a lawsuit against journalists and publishers of the Russian edition of Forbes and Komsomolskaya Pravda for an article he says threatens to damage his business reputation. The lawsuit, filed on May 15, demands that the journalists and publishers behind a November

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