Russia’s Relentless Quest For Arctic Oil
… Confronted with a series of delays, oftentimes quite problematic, … the Russian Energy Ministry has started to gradually soften up long-term objectives […]
» Read moreTag: Gazprom
Is This The Next Major Market For Russian LNG?
(oilprice.com – Viktor Katona – Aug. 17, 2020) Russia’s ambitious LNG plans have so far based on two producing assets – the Gazprom-operated Sakhalin LNG and the NOVATEK-operated Yamal LNG. The addition of Yamal LNG into its portfolio has helped to boost its clout (growing from 4% of global LNG trade to 8% currently) yet the actual numbers of assets […]
» Read moreRUSSIALINK: “Denmark Paves Way for Russia’s Nord Stream 2 Restart” – Moscow Times
Russia could restart construction on final pipeline stretch, while U.S. mulls super sanctions bill against project […]
» Read moreJRL NEWSWATCH: “Senators to Announce Sanctions Bill on Russia’s Nord Stream 2 Gas Pipeline” – Reuters
“U.S. senators [reportedly] will announce a bill this week expanding sanctions on … [the] Gazprom-led Nord Stream 2 project … [that] Washington says will make Europe too reliant on Russian gas. The Protecting Europe’s Energy Security Clarification Act[, spearheaded by Republican Senator … Ted Cruz[ and Democratic Senator] Jeanne Shaheen … follows legislation signed by … Trump last year …. […]
» Read moreRussia Could Allow Private Oil Firms To Explore Arctic Shelf
(Oilprice.com – Tsvetana Paraskova – September 4, 2019) The Russian ministry of natural resources is open to the idea that private oil and gas firms could be allowed to explore Russia’s Arctic shelf, where currently only state-held firms Rosneft and Gazprom have the right to operate, Russia’s Natural Resources Minister Dmitry Kobylkin told news agency TASS in an interview published […]
» Read moreWill Europe Ever Shake Its Dependence On Russian Energy?
(Oilprice.com – Wenyuan Wu – August 24, 2019) Much of the current discourse over Europe’s economic “independence” has revolved around its increasingly-tense relationship with the Trump administration over foreign policy issues such as trade and Iran. This focus has sidelined another important development, however: portions of the European energy industry-a major pillar of the single market-are increasingly coming into Russian […]
» Read moreWill The U.S. Slap Sanctions On Nord Stream 2?
(Oilprice.com – Nick Cunningham – May 23, 2019) There is a growing push in the U.S. Congress to slap sanctions on the Nord Stream 2 pipeline. The pipeline under construction would carry Russian natural gas to Germany, and has been a lightning rod of controversy both in Europe and across the Atlantic. Many governments and officials from Eastern Europe fear […]
» Read moreJRL NEWSWATCH: “Why are Russian stocks so cheap?” – Intellinews/ Ben Aris
“Investors into Russian stocks have almost given up on seeing any of the cash the country’s leading companies generate. The valuation of what should be some of the world’s richest companies are in the basement, as would-be minority investors don’t believe the management will share the billions of dollars in revenue these companies make every year. Russia’s stock market boomed […]
» Read moreRussia Outmaneuvers U.S. LNG
(Oilprice.com – Nick Cunningham – November 28, 2018) For years, boosters of U.S. LNG have trumpeted the fact that gas exports from the Gulf of Mexico could break Russia’s grip on the European energy market. That has yet to be the case, and in fact, Russia has managed to respond with various strategies to maintain its market share on the […]
» Read moreRussia Takes Major Leap In European Gas War
(Oilprice.com – Vanand Meliksetian – Nov. 17, 2018) [Text with links and graphics oilprice.com/Energy/Energy-General/Russia-Takes-Major-Leap-In-European-Gas-War.html] On November 19th, President Putin will stand shoulder to shoulder with President Erdogan during a ceremony to celebrate the completion of the first string of Turk Stream. The subsea gas pipeline will transfer 15.75 bcm directly from mainland Russia to Turkey. The capacity will double after […]
» Read moreJRL NEWSWATCH: “Russian oil and gas groups shrug off sanctions; Higher crude prices and weakened rouble bolster producers’ profits” Financial Times/Henry Foy
“Higher energy prices and a weakened rouble saw second-quarter profits soar at three of Russia’s largest oil and gas groups … the country’s energy industry … has weathered international sanctions to reap strong earnings. Gazprom, the world’s largest gas producer, said … second-quarter profits had risen an annual 440 per cent … both exports to Europe and average prices jumped. […]
» Read moreJRL NEWSWATCH: “Busting Nord Stream 2 myths” – bne Intellinews/Ben Aris
“The proposed expansion of the capacity of the Nord Stream gas pipeline in Europe’s north, running from Russia’s Yamal gas fields to the German coast, has split Europe …. detractors claim it will make Europe more dependent on Russian gas and give the Kremlin a bigger club … to bully the rest of Europe. … supporters say it will diversify […]
» Read moreJRL NEWSWATCH: “Ukraine marks 1,000 days without Russian gas” – Interfax-Ukraine
“Naftogaz of Ukraine has not been buying natural gas from Russia’s Gazprom for 1,000 days. Since Nov. 26, 2015, the country has been instead importing gas from the West. … in December 2017, the Arbitration Institute of the Stockholm Chamber of Commerce revised the contract between Naftogaz and Gazprom. … rul[ing] that the price of gas for Naftogaz must be […]
» Read moreRussia Just Won Big In The European Gas War
(Oilprice.com – Tim Daiss – May 28, 2018) There’s been a lot of talk on both sides of the Atlantic about the U.S. pivot and efforts at locking in natural as market share in Europe. Much of this comes amid President Donald Trump’s so-called American energy independence push as well as both U.S. and several EU members thrust to wean […]
» Read moreRussia Struggling To Expand Arctic Oil Production
(Oilprice.com – Tsvetana Paraskova – January 30, 2018) Oil production from Russia’s Arctic region increased in 2017 as new onshore developments and the only offshore producing platform ramped up production. But challenges in Russia’s arctic remain. Last year, production from onshore fields in Yamal-Nenets autonomous region in northern Russia contributed the most to the rise in oil production in the […]
» Read moreNEWSWATCH: “Gazprom gas exports to Europe rise 8% to new record” – Financial Times/ Henry Foy
“Russia’s gas exports to Europe rose 8.1 per cent last year to a record level of 193.9bn cubic metres (bcm), the company’s head said … as the world’s largest gas producer continued to increase sales despite rising competition from LNG and other sources. Gazprom … has a monopoly over Russia’s gas pipelines to Europe [and] has been forced to reduce […]
» Read moreNEWSLINK: “Russia to Keep Its Grip on Europe’s Gas Market After Record 2017” – Bloomberg/ Elena Mazneva
“Russia is working to keep natural gas exports to Europe near record levels in 2018 after the continent’s biggest supplier, Gazprom PJSC, said its deliveries this year signal it is achieving on its ambitions to expand. …”
» Read moreNEWSWATCH: “U.S. Criticizes Germany’s Support of New Russian Natural Gas Line; Top state department official praises Denmark for passing law that could hamper pipeline project” – Wall Street Journal/ Paul Sonne
“[Assistant Secretary of State for European and Eurasian affairs A. Wess Mitchell] offered harsh words … for Germany over the country’s continued support for a new Russian gas pipeline to Europe … known as Nord Stream 2 … a wholly owned subsidiary of Russian state energy giant Gazprom [that] would double Russia’s export capacity … adding a second link between Russia and Germany. * […]
» Read moreNEWSWATCH: “Gazprom spends big to keep trillion dollar dream alive; Russian gas exporter ramps up borrowing and raids cashpile to maintain growth” – Financial Times/ Henry Foy
“In an effort to fight back, Gazprom is …. [r]amping up borrowing and raiding its … cash pile … splurging on critical new infrastructure …. it announced that it expected to spend 24 per cent more this year on long-term investment, capital expenditure and acquisitions previously forecast. … next year’s spending [is projected to] hit a record Rbs 1.28tn ($22bn), up 13 per cent on […]
» Read moreGazprom Speaks Out Against OPEC Production Cut Extension
(Oilprice.com – Tsvetana Paraskova – November 21, 2017) While OPEC is said to be mostly leaning toward a 9-month extension of the production cuts, Russia’s Energy Minister Alexander Novak and major Russian oil companies discussed last week a six-month extension after March 2018, and all but one company said they were ready to extend, Russia’s TASS news agency reported on […]
» Read moreRussian LNG Unfazed By U.S. Sanctions
(Oilprice.com – Tsvetana Paraskova – November 2, 2017) Russia’s energy industry faces a new round of U.S. sanctions – including on oil projects in any location if a designated entity holds more than 33 percent. And in Europe, where Russia’s gas giant Gazprom currently holds a large share of the gas supplies, Poland and Lithuania are buying U.S. LNG in […]
» Read moreWhat Jolted Russia’s Investments Is About to Fizzle Out; From pipelines to cash registers, the factors that caused last quarter’s pickup in investment are only temporary
(Bloomberg – bloomberg.com – Anna Andrianova – August 30, 2017) [Text with charts bloomberg.com/news/articles/2017-08-30/what-jolted-russia-s-investments-is-about-to-fizzle-out] Russian investments have spiked to a five-year high as the economy exited recession, but the factors that drove the boom are already fading. Fixed-capital investment accelerated an annual 6.3 percent in the second quarter, according to Bank of Russia estimates, the most since 2012. The jump […]
» Read moreNew U.S. Sanctions on Russia Are a Mixed Bag; Europeans are rightly wary that promoting U.S. exports is an ulterior motive.
(Bloomberg – bloomberg.com – Leonid Bershidsky – July 24, 2017) Leonid Bershidsky is a Bloomberg View columnist. He was the founding editor of the Russian business daily Vedomosti and founded the opinion website Slon.ru. The European Commission is preparing to counteract the new sanctions the U.S. Congress may impose on Russia this week. This may sound as if Europe is […]
» Read moreWhy the Comey Hearing Was Frightening to a Russian
(Bloomberg – bloomberg.com – Leonid Bershidsky – March 21, 2017) Leonid Bershidsky is a Bloomberg View columnist. He was the founding editor of the Russian business daily Vedomosti and founded the opinion website Slon.ru. Monday’s hearing on Russia’s alleged interference in the U.S. presidential election and the alleged contacts between Donald Trump’s campaign and the Kremlin yielded inspiring news for […]
» Read moreThe Beginning Of The End For Europe’s Natural Gas War
(Oilprice.com – Nick Cunningham – October 27, 2016) Russia’s Gazprom is on the verge of striking a deal with EU regulators to settle a half-decade old dispute over natural gas pricing, and the resolution could change the way Gazprom does business and lead to lower gas prices for much of Eastern Europe. The conflict began back in 2011 when EU […]
» Read moreRussia Shifts Focus From Oil To Agriculture
(Oilprice.com – Michael McDonald – October 13, 2016) Michael MaDonald is an assistant professor of finance and a frequent consultant to companies regarding capital structure decisions and investments. Russia’s biggest industry has been oil production historically, but the country appears to be trying to diversify that by putting more emphasis on agriculture. The former soviet state has been relying on […]
» Read moreInternational Economic Forum opens in St. Petersburg
Russian observers expect dialogue and possible progress on the softening of EU sanctions against Russia from the forum, as well as Gazprom and Shell’s joint launch of an enormous LNG plant in Russia’s northwest. (Russia Beyond the Headlines – rbth.ru – ALEXEI LOSSAN, RBTH – June 16, 2016) Leading world economists have gathered at the St. Petersburg International Economic Forum […]
» Read moreRussian liberal radio station sees off “censorship” move
(Interfax – May 27, 2016) A dispute about freedom of speech at the Ekho Moskvy radio station in Moscow seems to be resolved to the satisfaction of the journalists and with the editor-in-chief’s authority enhanced. New contract and “censorship” The argument began when talk show presenter Yevgenia Albats refused to sign a new contract that she said amounted to censorship. […]
» Read moreWhy Gazprom’s ‘Monopoly’ in Europe is Far from Over
(Oilprice.com – Ilana Stav – April 4, 2016) The first U.S. shipment of liquefied natural gas (LNG) arrived in Portugal last week and Gazprom did not immediately cut its own gas prices for Europe. While European media has hailed the entry of U.S. gas into the market as a game-changer and a monopoly-breaker, in the short term, nothing has changed […]
» Read moreNEWSWATCH: “Mikhail Lesin’s Strange Death in U.S. Follows a Fall From Russia’s Elite” – New York Times
It took more than four months for the city’s medical examiner to announce the cause of death … not a heart attack … but rather ‘blunt force injuries.’ But the autopsy left the manner of death undetermined. … fuel[ing] speculation … Lesin might have been murdered, presumably by a financial or political rival …. *** police … continue to treat […]
» Read moreTRANSCRIPT: [Putin at] Meeting with Gazprom CEO Alexei Miller
(Kremlin.ru – February 29, 2016) The head of Gazprom briefed Vladimir Putin on the company’s results in 2015, and discussed, in particular, gas supply figures for the domestic and European markets and the programme for connecting Russia’s regions to the gas network. President of Russia Vladimir Putin: Mr Miller, I have several questions to start our discussion, and then we […]
» Read moreWho benefits and who loses from revocation of anti-Iranian sanctions
If Moscow plays its cards correctly, it will be able to strengthen its positions not only in Iran but also throughout the entire Middle East. (Russia Beyond the Headlines – rbth.ru – GEVORG MIRZAYAN – January 29, 2016) The lifting of sanctions against Iran has generated an entire wave of speculation about the upcoming reformation of the Middle East. However, […]
» Read moreRussia Seeks To Drive Wedge Into Central Asia
(RFE/RL – rferl.org – Bruce Pannier – January 5, 2016) Russia appears to be practicing a bit of “divide-and-conquer” politics in Central Asia, and state-owned Gazprom is spearheading the campaign. On January 4, Russia’s main news agencies quoted a “source” within Gazprom Export, the Gazprom wing charged with handling gas imports from other countries, saying Russia would not be importing any […]
» Read moreNEWSLINK Forbes/Kenneth Rapoza: “Russia Gives Ukraine A Break On Fuel Costs, But Prices Likely Going Lower Anyway”
Gazprom’s Miller Tops Russia’s Best Paid Executive List With $27 Million
(Moscow Times – themoscowtimes.com – November 20, 2015) Russia’s highest-paid executive last year with earnings of $27 million was Alexei Miller, the head of natural gas producer Gazprom, according to a ranking published by the Russian edition of Forbes magazine on Thursday that showed a sharp fall in the incomes of many of Russia’s top corporate bosses. Miller, 53, bucked […]
» Read moreA Winter Of Discontent For Russia
(Oilprice.com – Colin Chilcoat – August 25, 2015) Winters are the stuff of legend in Russia and – despite a fair bit of warming – winter 2015/16 is shaping up to be one of the harshest, and most formative, in recent memory. After a brief period of respite – and muted acceptance of the “new normal” – to start the […]
» Read moreWashington ups the ante with sanctions on Gazprom
RBTH presents its weekly analytical program TROIKA REPORT, featuring a look at three of the most high-profile recent developments in international affairs. (Russia Beyond the Headlines – rbth.ru – TROIKA REPORT: Sergey Strokan, Vladimir Mikheev – August 20, 2015) 1. Engaging the West U.S. sanctions on Gazprom: Washington ups the ante The recent move by the U.S. administration to restrict […]
» Read moreNEWSLINK Reuters: Bypassing Ukraine Will Be Costly for Russia’s Gazprom – Analysts
Russia’s plans to drop Ukraine as a route for pumping natural gas to Europe will still leave state-run Gazprom facing about $1 billion in annual transit fees to Slovakia and Bulgaria for years to come, analysts and industry sources say.
» Read moreAre The E.U. And Asia Turning A Blind Eye To Russian Sanctions?
(Oilprice.com – Robert Berke – July 8, 2015) In a previous article on Oilprice, I questioned whether western sanctions imposed on Russia were being regularly breached by E.U. and Asian companies, noting that sanctions only work if all countries unite behind them. In June, the Financial Times reported that only one year after being imposed, the sanctions are eroding. It […]
» Read moreNEWSLINK Interfax-Ukraine: Poroshenko certain Russian gas transit will continue via Ukraine after 2019
Is Russia Ready To Make A Comeback?
(Oilprice.com – Colin Chilcoat – July 6, 2015) As world markets nervously react to any news out of Greece, a sense of calm prevails in Russia. In short, a Greek sovereign default and exit from the euro zone is unlikely to inflict much damage on the Russian economy, already largely isolated from western financial markets. That’s not to say the […]
» Read moreRBTH: Why Gazprom became so flexible
(Russia Beyond the Headlines – rbth.ru – Alexei Lossan, RBTH – July 6, 2015) Russia’s natural gas giant is planning to put three billion cubic meters of gas up for auction – yielding to pressure from European customers, experts say. It may also scrap plans to stop Ukrainian gas transits, reducing supply risks linked to the construction of a new […]
» Read moreUkraine cancels gas supplies from Russia in pricing row
(Business New Europe – bne.eu – bne IntelliNews – July 2, 2015) Ukraine suspended Russian natural gas purchases on July 1, citing its inability to secure from Gazprom a heavily discounted price for the third quarter of the year. Henceforth, the country’s state-owned monopoly Naftogaz will rely on supplies from the European Union, and claims that volumes bought from EU […]
» Read moreUkraine Seeks New Russia Gas Deal as Military Tensions Rise
(Bloomberg – bloomberg.com – Elena Mazneva – June 9, 2015) Ukraine needs to negotiate a new natural-gas deal with Russia just as the conflict between the two countries risks escalating again. A gas-price agreement with Russian exporter OAO Gazprom expires at the end of the month and Ukraine requires fuel to replenish stockpiles before the winter. At the same time, […]
» Read moreNEWSLINK Interfax-Ukraine: Gazprom: gas transit through Ukraine to end after 2019, come what may
Gazprom has no plans to continue using Ukraine as a transit country for gas exports after 2019, Deputy CEO Alexander Medvedev told journalists. “When the transit contract with Ukraine expires, there will be no prolongation, no conclusion of a new transit agreement under any circumstances. In light of the economic, commercial, technological, investment and political risks for gas transit, there […]
» Read moreNEWSLINK Reuters: Russia’s Gazprom presses on with Turkey pipeline despite questions
Russia’s Gazprom plans to start building a pipeline to Turkey this month to get gas to Europe without going through Ukraine, company sources said, although it has no firm agreement with Ankara and faces opposition from the European Union.
» Read moreA wakeup call for Gazprom
Widely considered one of Russia’s most potent weapons, Gazprom’s financials show the slow erosion of its core business. (Business New Europe – bne.eu – Mark Adomanis in Philadelphia – May 19, 2015) As with almost every other major Russian company, 2014 was not a particularly good year for Gazprom. In fact, at first glance, the headline numbers were nothing short […]
» Read moreIs Gazprom a “buy”?
(Business New Europe – bne.eu – MOSCOW BLOG: Ben Aris in Moscow – May 7, 2015) [Chart here http://www.bne.eu/content/story/moscow-blog-gazprom-buy] With the RTS Index up 30% year-to-date, foreign investors are drifting back into Russian shares simply because they are so cheap. But is the bluest of Russian blue chips and long-time market proxy Gazprom a buy again? Russian investment bank Renaissance […]
» Read moreRussia Beyond the Headlines: Gazprom throws down the gauntlet to Europe over gas supplies via Turkey
(Russia Beyond the Headlines – rbth.ru – Alexei Lossan, RBTH – January 19, 2015) Russian gas giant Gazprom says Europe must build a new pipeline from Turkey if it wants to secure energy supplies via its new route that cuts out Ukraine. Russia had been intending to supply gas to Europe that bypassed Ukraine through South Stream, which was to […]
» Read moreRussia 2014 Gas Exports Seen Lowest in Decade as Nations Cut Use
(Bloomberg – bloomberg.com – Elena Mazneva – January 13, 2015) Russia, the world’s biggest natural-gas exporter, probably cut 2014 fuel exports to the lowest in a decade as consumption in Europe and Ukraine declined. OAO Gazprom (GAZP), the state-run gas-pipeline export monopoly, supplied no more than 195 billion cubic meters of fuel from Russia to the European Union, Turkey and […]
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