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Gazprom (OGZPY) just sold nearly a quarter of the Yuzhno Russkoye natural gas field to Germany’s E.On (EONGY). And what did Gazprom get back for this sacrifice? It’s own stock. How did Germany’s largest utility company manage to buy into one of the world’s largest gas fields using nothing but Gazprom stock? by Stephanie [...]

The Supertheory of SupereverythingBabba ZeeOutraged Spleen of ZionGogol Bordello: Supertheory of Supereverything(From L) Kuwaiti Deputy Prime Minister and Minister of State for Cabinet affairs Faisal al-Hajji, Afghan President Hamid Karzai, Jordanian King Abdullah II, Kuwaiti Emir Sheikh Sabah al-Ahmed al-Sabah, Senegalese President Abdoulaye Wade, Bosnian Presidency Chairman Haris Silajdzic and W

Gazprom Marketing and Trading has taken a major step towards delivering smart metering by acquiring an equity stake in TruRead. The rationale is to raise Gazprom’s presence in the UK gas market and ultimately expand its UK customer portfolio. At a superficial level, this is a win-win situation for its UK customers; however, there are [...]

Now that Goldman Sachs once outlandish forecast of oil at $150 to $200 a barrel over the next 18 months is only $10 short of being fulfilled, commentators have been forced to look elsewhere for the lunatic fringe of forecasting. Step forward the Russian oil giant Gazprom with its raising of the bar to $250 [...]

State President Nguyen Minh Triet has praised the effective cooperation between Russia’s natural gas company Gazprom and the Viet Nam Oil and Gas Corporation (PetroVietnam) in gas industrial development. The President heralded the Vietnam-Russia gas cooperation while receiving Gazprom’s General Director Miller Aleksei Borisovich on May 23 in Hanoi. President Triet applauded the agreement on

Russia's Gazprom and Petrovietnam agreed at the meeting of the holding's CEO Alexei Miller and President of Viet Nam National Oil And Gas Group (Petrovietnam) Tran Ngoc Canh that the Russian gas giant will explore and develop four new groups of fields on the republic's territory. Gazprom said in a statement that joint company VietGazprom, which has been exploring a Vietnamese offshore deposit

“Gazprom is a $239 billion company in terms of market cap. And in one of its latest reports, it bragged that it would surpass Exxon Mobil in revenue by 2014.” — Christian DeHaemer by Christian DeHaemer Baltimore — (TFN): Gazprom (OGZPY: OTC) is the world’s largest natural gas company. It holds 17% of the world’s total, and [...]

A continuación un interesante artículo de Robert R. Ámsterdam sobre la “utilización de Rusia del arma energética, Gazprom, en sus relaciones con Europa”: “En Europa se ha secuestrado el término “seguridad energética” para dar poder a los proveedores y debilitar a los importadores, lo que entraña una drástica reducción de la competencia, una mayor vulnerabilidad política y la erosión del Estado de Derecho. El hecho de que Dimitry Medvedev, sucesor del Presidente Vladimir Putin, haya sido el Presidente de Gazprom despeja todas las dudas sobre la determinación del Kremlin de mantener sujeto con puño de hierro el sector de la energía, pero hay que poner fin a la asimetría en las relaciones Unión Europea-Rusia en materia de energía. Nunca habían sido mayores e

“The government hasn’t gone so far as to say, ‘leave Russia to the Russians,’ publicly, but you can imagine the sentiment being passed between cabinet ministers and police chiefs as they rifle through TNK-BP’s Moscow offices (which they did a couple of weeks ago)” — Stephanie Grimmett by Stephanie Grimmett Baltimore – (TFN): Gazprom [...]

Un articol de Vladimir Socor:UKRAINE, ROMANIA CAN HALT GAZPROM’S SOUTH STREAM IN THE BLACK SEAby Vladimir SocorGazprom and the Kremlin have lined up Central Asian gas commitmentsupstream and European Union markets downstream for the South Stream pipelineproject. Russia’s project seems to enjoy an unstoppable momentum against itsrival Nabucco and other Western-backed projects for Caspian gas to Europe.Nevertheless, South Stream can be halted in the Black Sea by Ukraineand Romania on a legal basis, at no risk to themselves and with appropriateWestern support, until access can be opened to Central Asian gas forNabucco.The grounds for halting South Stream are familiar from the debate onthe merits of EU- and U.S.-backed Nabucco versus Gazprom’s rival project. IfSouth Stream is actually bu

They say that energy is Russia's new weapon of diplomacy. And as Russia's state-owned gas giant, Gazprom is never far from the front line. But now, it seems, Gazprom's grip extends even to the art world. The group has been credited with brokering the deal

Russia's major producer of natural gas OAO Gazprom has presented here the Eastern Program of energy resource supplies to East Siberia, the Russian Far East, and Asia-Pacific country in this century."The Eastern Program was endorsed by the Russian government in September," Alexander Ananenkov, a deputy chairman of the board of governors said at the presentation ceremony here Friday. "it aims to develop the gas industry so as to ensure reliable supplies to consumers in East Siberia, the Far East, as well as Asian and Pacific countries, including Japan."He recalled that the program had been developed over a number of years and the drafting process involved experts from the Russian Ministry of Economic Development and Ministry of Natural Resources.Following endorsement of the program on September 3, the government commissioned coordination of all the works related to it to Gazprom."The document provides for laying grounds for a sustained economic development of Russia's eastern regions a

BASF AG and Russia's OAO Gazprom officially launched production operations at the Russian natural gas field Yuzhno Russkoye. This is the first time that a German company has been directly involved in the production of natural gas in West Siberia.In an official ceremony at the Gazprom headquarters in Moscow, Alexej B. Miller, Chairman of the Board of Executive Directors of OAO Gazprom, and Eggert Voscherau, Vice Chairman of the Board of Executive Directors of BASF, pressed the button to launch production operations at the Yuzhno Russkoye gas field together with Dimitri A. Medwedew, First Deputy Prime Minister of the Russian Federation and Chairman of the Supervisory Board of OAO Gazprom, and the Germany Foreign Minister, Frank-Walter Steinmeier. Shortly beforehand, the completion of work at the gas field was confirmed in a live broadcast from Siberia.The Yuzhno Russkoye field in West Siberia has recoverable reserves of more than 600 billion cubic meters of natural gas, which makes it

Gazprom and Germany's Wingas AG intend to boost their joint underground gas storage capacity to 8 billion cubic meters, the Russian energy giant's chief executive said on Tuesday.Alexei Miller said Gazprom was implementing two underground storage facility projects and could launch two more similar projects in Britain and Germany in the near future.Meanwhile, Alexander Medvedev, deputy chairman of the Gazprom management committee, said the joint underground gas storage capacity could be increased by 2010.Wingas is a joint venture of Wintershall, Germany's largest crude oil and natural gas producer, and Gazprom. Wingas has been engaged in gas distribution since 1993 and supplies natural gas to public utilities, regional gas suppliers, industrial and power plants in Germany and other European counties via network pipelines extending over 2,000 kilometers (1,242 miles).Via: Russian Information & News Agency

Libya on Sunday awarded four potentially lucrative gas exploration contracts to fuel giants Shell, Gazprom, Sonatrach and Polski, the first ever given to foreign firms as relations warm between Tripoli and the West. The biggest award went to Algerian firm Sonatrach in association with Oil India... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Gazprom may bring in Total to help it tap a large gas field in Astrakhan, it said Friday, only a few months after teaming up with the French oil major on the giant Arctic Shtokman deposit. The statement comes as another confirmation of Total's growing position in the country, where it had long been... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Gazprom Group is mulling over the possibility to sell natural gas and crude oil for rubles, Gazprom Deputy Chairman Alexander Medvedev told the news conference in New York, Reuters reported. But Medvedev gave no definite dates for the ruble transfer, pointing out the idea should put down roots at first. Asked about Gazprom’s attitude to the dollar decline, Medvedev said the company sells gas and crude both for dollars and euros. Russia’s gas monopoly, Gazprom, stepped up net proceeds by 4.4 percent on year to 1,238.200 billion rubles in January through September under Russian Accounting Standards. Of this amount, gas sales accounted for 968.41 billion rubles, 1.4 percent up on year. The product cost surged 20.64 percent to 520.82 billion rubles; gross profits lowered 4.9 percent to 717.38 billion rubles; pretax profits narrowed 15.6 percent to 286.1 billion rubles. Gazprom has 118,367.564 million rubles in stock capital split into 23,673,512.9 thousand common stocks, 5 rubles

When I see what’s happened to the U.S. dollar, I think of Rodney Dangerfield and him always joking “I don’t get no respect.” And according to Bloomberg this afternoon, the greenback took another one on the chin as Gazprom, the world’s largest natural gas exporter, announced it may start selling its crude and gas production in rubles rather than dollars and euros. Alexander Medvedev, Gazprom’s deputy chief executive officer, told reporters in New York today that, “We are seriously thinking about selling our resources in rubles.” The gas giant’s chief financial officer, Andrei Kruglov, told the same members of the press that the switch would happen “sooner, rather than later.” According to New York Times reference material on Gazprom: What former General Motors president Charles E. Wilson said of his company – “what was good for our country was good for General Motors and vice versa” - could well apply to Russia’s Gazprom, the nation’s largest company. Th

The potential here is just stunning for Dow (DOW). Russian natural gas monopoly OAO Gazprom and Dow signed a memorandum of understanding that outlines potential cooperation on projects in Russia and Germany. Gazprom said the companies will consider creating a joint venture based on Dow's new petrochemical facilities in Germany and cooperating in refining gas from Russia's Yamalo-Nemets autonomous district, and study other possibilities. CEO Andrew Liveris has long lamented high natural gas... Continued at Todd Sullivan's ValuePlays

OAO Gazprom, supplier of a quarter of Europe's natural gas, will probably say profit fell to $5.1 billion in the second quarter as inflation drove costs higher and warmer weather reduced demand for... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Siemens in Atomic Venture German engineering conglomerate Siemens signed an agreement Tuesday with Russia to help the country boost nuclear power generation. The Federal Atomic Energy Agency said its... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Siemens in Atomic Venture German engineering conglomerate Siemens signed an agreement Tuesday with Russia to help the country boost nuclear power generation. The Federal Atomic Energy Agency said its chief, Sergei Kiriyenko, had signed the memorandum in Moscow with Rudi Lamprecht, a member of Siemens' managing board.The agency said Siemens would help Russia boost nuclear power generation capacity at home and abroad and to reconstruct reactors. (Reuters) Rosneft May Issue Bond Rosneft is considering a convertible offering as it looks to issue $2 billion in eurobonds by the end of this year, vice-president for finance and investments Peter O'Brien said Tuesday. "We are looking at different refinancing options and do not rule out a $2 billion eurobond issue … a convertible bond is one possible option," O'Brien said. (Reuters) E.On, Gazprom Project E.On, Germany's largest utility, and Gazprom may build natural gas-fired power stations together in Germany, Hungary or Britain, E.On C

Gazprom held talks in Iran on Wednesday on expanding in the region, one day after President Vladimir Putin made his first visit to the country. Deputy chief executive Valery Golubev is in... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Gazprom held talks in Iran on Wednesday on expanding in the region, one day after President Vladimir Putin made his first visit to the country.Deputy chief executive Valery Golubev is in negotiations with energy officials from Iran and Armenia on joint projects, Abubakir Shamuzov, head of Gazprom's Tehran office, said Wednesday.Russia is seeking to expand its control of pipeline networks outside its borders. Moscow, via Gazprom, has used a combination of threats and incentives to increase its influence in neighboring markets. Gazprom agreed last year not to raise prices for Armenia until the end of 2008. The price, $110 per 1,000 cubic meters, is less than half what Gazprom charges customers in Western Europe.In return, Gazprom's Armenian venture, ArmRosgazprom, will acquire a gas pipeline to Iran and the new generating block of a thermal power plant, Gazprom said at the time. Armenia also agreed to let the Gazprom venture oversee building a second, 197-kilometer pipeline to Iran.Arm

Russian Prime Minister Viktor Zubkov said that the debt of Ukrainian companies for the Russian gas to Gazprom is $ 2 billion, and offered to settle the debt in the amount of $1,2 billion by... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Russian Prime Minister Viktor Zubkov said that the debt of Ukrainian companies for the Russian gas to Gazprom is $ 2 billion, and offered to settle the debt in the amount of $1,2 billion by transferring ownership of the gas, which is now in the underground storage facilities of RosUkrEnergo, to the Russian gas monopoly.Viktor Zubkov made the statement at joint briefing and with Ukrainian Prime Minister Viktor Yanukovich in Moscow yesterday, reports a REGNUM correspondent.“These reserves will be sent to implementing of Gazprom export obligations as well,” Zubkov added.He also said that under the agreement, the remaining $929 million of the debt would be repaid through own capital of UkrGazEnergo and Ukraine. The head of the Russian government stressed that he expected full repayment of the Ukrainian debt for gas to NaftogazGazprom till November 1, fully provided with adequate control by the Ukrainian authorities.Earlier, Gazprom said the amount of the debt was $1.3 billion.Via: REG

An evident win of the Orange coalition at the parliamentary election in Ukraine has strained the country’s relations with Russia on the gas supply issue. Gazprom on Tuesday came up with blistering statements pushing Ukraine to quickly clear its outstanding debt for gas. The Russian gas monopolist now threatens to cut down the supply and has already warned its European partners about possible problems. Gazprom, which distanced itself from Ukrainian gas supply discussions before the Supreme Rada election, was quick to react to the very first results of the poll. The Orange victory is clearly unacceptable for Russian authorities and Gazprom alike as Yulia Timoshenko has repeatedly declared plans to review current gas contracts. In the circumstances, the Russian gas monopolist pointed to Ukraine’s $1.3 billion outstanding debt. Gazprom issued an official statement on Tuesday saying that it “informed its European partners of existing problems with gas supply to Ukraine”. The gas

Russia’s gas monopoly, Gazprom, will probably go through a management upheaval in the following three weeks. An endless string of resignations and appointments there may begin already today, October... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Russia’s gas monopoly, Gazprom, will probably go through a management upheaval in the following three weeks. An endless string of resignations and appointments there may begin already today, October 1, starting from Gazprom Deputy Chief Executive Alexander Ananenkov.The blow could hit five more top managers of the monopoly despite that Gazprom BOD extended their tenure for another five years past week. Gazprom Deputy Chief Executive Alexander Ananenkov, who supervises industrial issues in the gas monopoly, may vacate the office October 1, Interfax reported Saturday. Ananenkov is one of a few top managers in Gazprom Management Committee with the gas degree. Despite that Ananenkov has always been very cautious, the reasons that could explain his potential ouster are numerous. One of them is the desire to take over Gazprom after Alexey Miller. Theoretically, Ananenkov could be viewed as a potential successor to Miller, but he has never been close to any groups in power. In time o

The European Union moved yesterday to curb the might of Gazprom with proposals banning Russia's giant gas monopoly from European transmission networks unless it radically overhauls its business practices and structures.Keenly awaited proposals from the European commission on liberalising Europe's energy sector, unveiled yesterday, put up a panoply of obstacles to energy predators outside the European Union. They could scupper Gazprom's ambitions to buy its way into the transmission systems for European Union consumers, and could compel the company to divest its sizeable stakes in energy companies from Latvia to Italy.The draft directive from Brussels makes it virtually impossible for Gazprom to acquire a controlling stake in a gas transmission network in the EU. It proscribes any Gazprom investment at all in the networks unless the world's biggest gas supplier separates or "unbundles" its production and supply business from its transmission activities."If they want to buy a network

Russia's Gazprom is trying to muscle its way into the American energy market by encouraging BP to share a stake in its liquefied natural gas operation in Trinidad, which supplies the US.Gazprom, the world's largest gas producer, has already secured a 25% share of the wholesale gas market in Europe - something that has caused widespread political unease - and wants to increase its influence in the US.Trinidad supplies around two-thirds of America's imported LNG and although the volumes remain relatively small they are expected to grow. BP declined to comment on any specific talks with Gazprom on Trinidad but admitted wide-ranging discussions were ongoing about future areas for cooperation. The Russian newspaper Vedomosti quoted sources close to TNK-BP as saying the two companies were discussing how they could cooperate in the Caribbean and help Gazprom win a toehold in the US. "Participation in this project will enable Gazprom to expand its presence in the LNG markets, which is one o

Gazprom mantiene un osado pulso contra BP, Shell, Total, y Chevron. El Estado Russo ha podido impulsar a la empresa gasista y convertirla en un brazo político y económico con un insultante grado de arrogancia.El problema de los europeos es emprender acciones por separado ( y no en conjunto) y el mejor ubicado ha sido los alemanes ( mucho se debe al buen hacer de Gerhard Schroeder) una potencial relación es la que se tiene con la eléctrica EON, quizás porque encuentran mas complementariedad que competencia.La peor parada es Shell, a quien se le han dificultado sus batallas euroasiáticas y se han remitido a salvar los muebles. Los británicos lo tienen claro y están aprendiendo a dimensionar la seriedad de Gazprom y de Moscow a la hora de tener claro que desean consolidarse como un actor de relevancia en el mundo de la energía. Los británicos, con este gesto de ofrecimiento de LNG es un acto simbólico con el que le sugieren a Gazprom que en ellos tienen un aliado mas allá de

La estrategia que emprende Gazprom, le permitirá a mediano y largo plazo a Russia mantener asegurar una torre adicional en su tablero geopolítico en lo que concierne a la Asia Central. Los antecedentes recientes que tenemos por parte de la empresa russa Gazprom, es que es muy dura a la hora de tomar medidas opresoras ( para muestra un boton, El caso en relación a Ucrania, onde incluso ha intentado las instituciones comunitarias mediar en las disputas de Russia y Ucrania, perdón de Gazprom – Ucrania: ¨European Commission Calls on Russia, Belarus to Solve Gas Dispute¨ ).Facilitar el acceso a la rusa Gazprom en Kazakhstan y Tadjikistan, sin antes concertar autenticas acciones de reciprocidad, tendrá como consecuencia una desmesurada dependencia a la Russia de Putín, lo cual conllevará a consecuencias que disminuiria el margen político de estos gobiernos de Asia Central, que a diferencia de el caso de Ucrania carecerian de un interlocutor como lo pueden llegar a ser instituc

energyPICS posted a photo: Director of the Fuel and Energy Sector Department at Russia's Industry and Energy Ministry Anatoly Yanovsky (L) and Gazprom head Alexei Miller (R) before a three-sided meeting of presidents of Russia, Kazakhstan and Turkmenistan.

The supplies of Russia’s natural gas to Belarus will not be reduced so far. Gazprom received on Friday the first $190 million out of the $456.16 million which Minsk owes for gas। The remaining sum is to be transferred to Gazprom next week. Meanwhile, Washington expressed deep concern over the Moscow-Minsk gas standoff. At 10:25 a.m. on Friday, $190 million came to Gazprom’s account in Gazprombank. It is the first tranche of Belarus’ debt of $456.16 million. The remaining sum is to be transferred to Gazprom next week. Gazprom confirmed on Friday that the supplies of Russia’s natural gas to Belarus will not be reduced so far. However, Gazprom’s spokesman Sergei Kupriyanov said that if the remaining money fails to come next week, the Russian monopoly will reduce gas supplies to Belarus by 30 percent. Meanwhile, Washington expressed deep concern over the Moscow-Minsk gas standoff. Tom Casey, deputy spokesman of the U.S. Department of State, said: “What we'd like to see

OAO Gazprom, Russia's natural-gas exporter, said it received a ``significant part'' of a $460 million debt owed by Belarus, averting a supply cut to the country. Gazprom will put off a 45 percent decrease in deliveries scheduled for today, giving Belarus one week to pay the rest, the state-run company said in an e-mailed statement. Belarus President Alexander Lukashenko said yesterday his country would repay the debt with help from Venezuelan President Hugo Chavez and ``Western banks.'' Belarus transferred $190 million this morning, the Interfax news service said, citing the deputy head of Belarus pipeline operator OAO Beltransgaz. Gazprom may still reduce deliveries next week by 30 percent, in proportion to the payment it receives, company spokesman Sergei Kupriyanov told Ekho Moskvy radio station today. Gazprom has threatened to cut gas shipments to Belarus twice in the past year. Belarus's debt ballooned after Gazprom doubl

Russian energy giant Gazprom [GAZP] has acquired controlling stakes in wholesale generating companies OGK-2 and OGK-6, as well as minor stakes in three territorial generating firms, the head of Unified Energy System said Friday. "As a result of a share swap between minority holdings comprised of UES shareholders, Norilsk Nickel, Gazprom and [coal mining company] SUEK, Gazprom's share in OGK-2 and OGK-6 will grow to 55% and 52%, respectively. Gazprom will also receive a 5% stake in [territorial generating company] TGK-11, over 4% in TGK-12, and a little under 5% in TGK-13," Anatoly Chubais said. He said SUEK will see its stake in TGK-12 increase to 5%, while Norilsk Nickel will acquire 14% in OGK-3. "Therefore, neither SUEK nor Norilsk Nickel will gain direct control," Chubais said. He said only Gazprom will have a controlling stake in the two companies, but that the gas monopoly's control could be lost after a new share issue. Via: Russian News Information AgencyBlogalaxia

The new U.S. Assistant Secretary of State for Economics and Energy Ruben Jeffrey has visited Russia for the first time.After a number of meetings in the Foreign Ministry, Ministry of Economic Development and Trade and presidential administration, Jeffrey talked with Kommersant correspondent Mikhail Zygar on how tensions between Russia and the West may affect Russian business. It's Good that Gazprom Opened Up to Foreign Partners. Do the political disagreements between Russia and the West reflect on the investment climate in Russia? The Russia economy is undergoing rapid growth now. It is growing much faster than anyone could have predicted five of ten years ago. To support that growth, a legal infrastructure, a court system, is needed. Russia understands very well. Russia understands that it has to tae additional steps for the development of the tax system. It is necessary so that there will be real competition in the economy. While Tony Blair was still prime minister of Great Br

energyPICS posted a photo: Russian Ambassador to Ukraine Viktor Chernomyrdin (L) and ex-chairman of Gazprom Rem Vyakhirev (R) attend the annual assembly of founders and joint board meeting of the International Fund of Orthodox Christian Peoples Unity.

energyPICS posted a photo: Chairman of Novolipetsk Metallurgical Plant Vladimir Lisin (L) and Gazprom Chairman Alexei Miller (R) attend a meeting of the President of Russia Vladimir Putin and Federal chancellor of Austria Alfred Guzenbauer with the participants of a Russian-Austrian business-forum.

All major Gazprom’s projects have political underpinning. Sometimes, it makes them look contradictory. For instance, former Gazprom chairman Rem Vyakhirev said in 1998 that the North-European pipeline project was economically unfeasible. Ten years later, the same project, under the new name of Nord Stream, is considered one of the most promising routes to directly link Russia and the EU. Subsidiary is to ReturnRem Vyakhirev’s team was the successor of Viktor Chernomyrdin’s team. Consequently, it carried on all drawbacks and advantages of the USSR Oil and Natural Gas Ministry’s Soviet ways. Meanwhile, younger and more business-aggressive managers prevail in Alexei Miller’s team.Vyakhirev, who headed Gazprom in 1992-2001, faced a strategic task: to create a competitive environment on the ruins of the post-Soviet oil and gas ministry authorized to do business. Vyakhirev implemented the task quite successfully. Beside numerous small private companies, several verticall

INTERNATIONAL Iran has agreed to allow UN weapons inspectors to see one of its nuclear reactors. Oil shipments to North Korea have begun. The Economist: “Beware Russians bearing gifts.” ENVIRONMENTAL NEWS Governors take the lead. McDonald’s “to make biodiesel from its own waste.” BLOGS “A country called Europe?” Another perspective on faith and the Democrats. TIP OF THE DAY Don’t leave your appliances on standby. Turn them off completely and save energy. Email this post...

The Supreme Council of Transdniestrian Moldovan Republic has made amendments to its budget that freeze payments on its debt to Russia for natural gas. Money that would have gone to Gazprom has been redirected to fill its own needs, specifically a deficit in the republic's pension fund, and leave a debt of $14.5 million unpaid.Thus the unrecognized republic has found a way to counter the economic crisis that arose when Moscow stopped sponsoring it.The plan could backfire, however, if Moscow becomes completely disillusioned with its willful president Igor Smirnov and cuts off all support. The total debt of Transdniestria for Russian natural gas is $1.3 billion. Gazprom has turned that debt over to OOO Factoring Finance. Tiraspol has made it clear that it does not intend to pay that debt. “Transdniestria has no legal debt,” Smirnov stated in March. “There was never an agreement signed with Gazprom. AO Moldova-gaz signed an agreement. Fifteen percent of the stock used to belong t

The sky above Sochi filled with fireworks early Thursday as more than 15,000 residents of the Black Sea resort screamed their delight at the city's surprising victory in the contest to host the 2014 Winter Olympics. The unexpected triumph over the South Korean resort of PyeongChang by just four votes in voting in Guatemala City was immediately attributed - and not just by Russian officials - to President Vladimir Putin, an avid sportsman whose favorite skiing resort, Krasnaya Polyana above Sochi, will be a big center for the Winter Games. Taking a leaf from Tony Blair's successful personal lobbying to win the 2012 summer Games for London, Putin went to Guatemala to lobby voters and lead Sochi's presentation. "Putin being here was very important," Jean-Claude Killy, a French member of the International Olympic Committee and former ski champion, told The Associated Press in Guatemala. "He worked very hard at it. He was nice. He spoke French - he never speaks French. He spoke Englis

The State Duma on Wednesday gave two of the country's biggest energy monopolies the right to form armed units to patrol oil and gas pipelines, the country's economic lifeline. A bill, backed by 341 deputies in the 450-seat Duma, gives state-controlled gas giant Gazprom and state oil pipeline monopoly Transneft the right to employ and arm their own security units. Deputy Gennady Gudkov, of the pro-Kremlin A Just Russia party, opposed the bill, saying it opened the way for the creation of corporate armies in the country. Gazprom is already described by some observers as a state within a state: It controls some of the country's biggest media outlets, has a watertight grip on gas exports and owns the country's third-largest bank. But the bill's authors said it was needed to help the firms protect their infrastructure against militant attacks. "A couple of terrorist acts and an ensuing environmental catastrophe would be enough to immediately declare Russia an unreliable partner an

Gazprom said Thursday that its profit more than doubled last year to 636.5 billion rubles ($24.6 billion) on the back of higher oil and gas prices and the acquisition of its oil arm, Gazprom Neft.The state-controlled gas giant said its revenue, calculated to international accounting standards, rose to 2.15 trillion rubles in 2006 from 1.38 trillion rubles in 2005.Domestic sales rose 15 percent, while sales in the rest of the former Soviet Union jumped 93 percent on steep price hikes. European net sales jumped 37 percent, also as prices sharply rose.Sales to domestic industry will begin to turn a modest profit -- at the rate of 4.5 percent -- next year, Gazprom deputy CEO Andrei Kruglov said at a news conference earlier Thursday. The profit rate will increase to 13 percent in 2009 and 25 percent in 2010, he said.Kruglov reiterated that the firm intends to buy 20 percent of its oil subsidiary, Gazprom Neft, from Eni, just days after the Italian energy group expressed hopes of holding on

Gazprom on Friday sealed a deal to buy out TNK-BP's stake in the giant Kovykta gas field, ending years of wrangling over BP's flagship project in the country. The agreement was signed at a Kremlin ceremony overseen by First Deputy Prime Minister and Gazprom chairman Dmitry Medvedev, who is a leading contender to succeed President Vladimir Putin. Putin has stepped up the drive to bring oil and gas reserves back into the folds of the state as his presidential term nears its end in March 2008. Gazprom will pay between $700 million and $900 million for TNK-BP's 62.9 percent stake in Rusia Petroleum, which holds the license to develop Kovykta. A Gazprom spokesman said the company was not in talks to buy out Rusia's other two shareholders, Vladimir Potanin's Interros holding and the Irkutsk regional government. TNK-BP, a 50-50 joint venture between BP and a trio of Russian billionaires, can exercise a call option to buy back a stake of 25 percent plus one share at "an independently veri

OAO Gazprom took control of BP Plc's stake in a Siberian deposit with enough natural gas to supply Asia for five years as President Vladimir Putin ends foreign ownership of Russia's biggest energy assets. State-run Gazprom will pay as much as $900 million for the 63 percent of the Kovykta field held by BP's TNK-BP unit and half its regional pipeline unit, and agreed to set up a $3 billion global venture, executives from the three companies said in the Kremlin today. BP's shares closed 0.7 percent higher. ``This is almost a billion dollars more than they might otherwise have gotten,'' said Roland Nash, the head of research at Renaissance Capital investment bank in Moscow. ``All global hydrocarbon companies are in the process of renegotiating their positions in Russia, and the government holds all the trumps.'' Russia, the world's largest energy producer, has used tax claims and environmental inspections to pressure foreign i

Gazprom found new resources of natural gas: it will soon begin developing a coalmine methane deposit in Kuzbass. The monopoly estimates the potential of the region’s deposits at 13 trillion cubic meters.Yet, experts say it is hard and costly to extract this kind of gas, in Russia it is productive only together with coal extraction. Gazprom can do it within the JV with Siberian Coal Energy Company. Still, experts believe the project will be aimed not so much at gas itself as at obtaining quotas within the framework of the Kyoto protocol.The monopoly begins developing coalmine methane Gazprom’s deputy chairman Alexander Ananenkov said that “very soon, already in 2007, the company will begin intensive works for developing coalmine methane deposits”. The CEO added that Gazprom is ready to begin the large-scale production of methane in Kuzbass in 2008-2009. Ananenkov estimated the total deposits in the region at 13 trillion cubic meters. In early 2007, Gazprom announced the crea

Gazprom found new resources of natural gas: it will soon begin developing a coalmine methane deposit in Kuzbass. The monopoly estimates the potential of the region’s deposits at 13 trillion cubic meters.Yet, experts say it is hard and costly to extract this kind of gas, in Russia it is productive only together with coal extraction. Gazprom can do it within the JV with Siberian Coal Energy Company. Still, experts believe the project will be aimed not so much at gas itself as at obtaining quotas within the framework of the Kyoto protocol.The monopoly begins developing coalmine methane Gazprom’s deputy chairman Alexander Ananenkov said that “very soon, already in 2007, the company will begin intensive works for developing coalmine methane deposits”. The CEO added that Gazprom is ready to begin the large-scale production of methane in Kuzbass in 2008-2009.Ananenkov estimated the total deposits in the region at 13 trillion cubic meters. In early 2007, Gazprom announced the creat

Gazprom and the Malaysian Petroliam Nasional Berhad (Petronas) have signed a memorandum of cooperation on the production, transport and storage of natural gas. The companies have no specific projects yet. Analysts say that Petronas is a very successful gas exporter that may be helpful to Gazprom for dividing spheres of influence on the liquefied natural gas market and setting prices. Gazprom deputy chairman Alexander Medvedev and Petronas president Mohd Hassan Marican et at the 12th Asian petroleum conference in Kuala Lumpur. The memorandum they signed foresees joint projects in Malaysia, Russia and third countries and sets out the principles of cooperation for the construction of gas infrastructure, including pipelines, underground reservoirs and regasification terminals. Malaysia has proven reserves of 2.4 trillion cu. m. of gas. Last year, production of natural gas there reached 62.8 billion cu. m. Consumption of gas amounted to 33 billion cu. m. The country's energy balance c

Yet another round of talks on gas exports from Russia to China has fallen through after China’s CNPC refused last weekend to buy fuel from Gazprom at more than $100/1,000 cu. meters, a Kommersant source reports. Selling gas at $100 would be unprofitable for Gazprom which plans to sell it at $125 on the domestic market after 2011. Industry experts say that the first gas will be sent to China no earlier than in 2014. Russian gas monopolist Gazprom and China’s CNPC discussed possible gas sales at the International Economic Forum in St. Petersburg last Sunday. The two sides did not reach a final agreement as the Chinese oil and gas corporation tries to negotiate a lower price while hoping to buy fuel from Sakhalin-1, according to Gazprom foreign relations director Stanislav Tsygankov. Gazprom confirmed the schedule and amount of gas supplies from Eastern and Western Siberia, Mr. Tsyganvkov said.“But we won’t be building or producing until a purchase agreement is signed,” he u

Today’s worth of Gazprom reserves is estimated at $182.5 billion, Gazprom Neft has $24 billion, RIA Novosti reported referring to Alexander Ananenkov, deputy chairman of Gazprom management committee. The current worth of Gazprom reserves stands at $182.5 billion, Ananenkov said, pointing out that the amount doesn’t take into account Gazprom Neft reserves estimated at $24 billion. So, the aggregate worth of Gazprom reserves reaches $206.5 billion.“Our partners have definite confidence in reliability of resource base of Gazprom,” Ananenkov emphasized. As to the gas production, it will probably reach 670 billion cu meters in 2020, though the target is just 590 billion cu meters, Ananenkov said. “With positive or super-positive market environment, we can reach this level of production,” Ananenkov pointed out, specifying that 2010 production is forecasted at 560 billion cu meters at the maximum but may sour to 570 billion cu meters in case of need.LSE, Gazprom, Rosneft CEOs

A venture backed by Gazprom plans to build the world's biggest polypropylene plant in the Siberian town of Tobolsk, Tyumen region Deputy Governor Alexander Moor said Monday. Moor said the venture, led by Gazprom's chemicals arm, Sibur, and up to 30 percent owned by gas firm Novatek, had already signed a deal to invest more than $2 billion in the plant. "It would be the biggest production of polypropylene in the world. It would cover most of Russia's needs for this material. The rest would go for exports," Moor told a news conference. Asked how the venture would fund the project, Moor said: "Bond issues and probably share issues." He also said the local administration would give tax breaks to help the project. Sibur and Novatek unveiled the idea of building the plant in February, saying Novatek would supply the gas for the plant if it went ahead. Moor said that in the first, three-year stage, which is already underway, the venture would invest $1 billion to launch the plant in 2010