Gazprom extracts, transports, stores and sells natural gas. The company is the successor to the State-owned company. Gazprom owns and operates Russia's Unified Gas Supply System. The company has a monopoly in supplying gas in the Russian Federation, and exports natural gas to Western Europe. More
Thursday, Dec 55:56 PMUkraine, under Russian pressure, is no-show to sign gas import deal
Thursday, Dec 55:56 PM| Comment!
- Ukrainian officials failed to show to sign a deal that could open up a natural gas supply route via Slovakia, WSJ reports, raising concerns that Ukraine was walking away from an agreement the European Union spent months brokering.
- The deal would have opened up a major gas supply route to Ukraine that could have greatly reduced the country's dependence on Russian supplies, but Pres. Yanukovych's government had warned it may put the deal on hold, citing trade pressure from Russia.
- Russia's Gazprom (OGZPY) meets a quarter of the EU's gas needs, the bulk of which flows via Ukraine, and supplies the vast majority of Ukraine's energy needs.
Wednesday, Dec 42:34 PMGazprom to explore settlement on EU competition concerns
Wednesday, Dec 42:34 PM| Comment!
- Gazprom (OGZPY) will present draft proposals responding to European competition concerns about its pricing and other practices in coming days, the EU's antitrust chief says after meeting with the company's deputy chairman.
- Russia supplies roughly one-third of the EU's natural gas but supplies a large majority of the gas used in eastern European countries.
- The potential breakthrough comes amid heightened tension between Russia and the EU over ties to the Ukraine; the EU has accused Russia of pressuring Ukraine's government into putting on hold a broad trade accord.
Friday, Nov 298:49 AMEni's next growth area is southeast Asia, CEO says
Friday, Nov 298:49 AM| 1 Comment
- Eni (E) is eyeing southeast Asia as the company's next growth area for oil and gas exploration, CEO Paolo Scaroni says; it has returned to Indonesia, it is finding resource discoveries in Pakistan and is buying up exploration blocs in Vietnam and Myanmar.
- The Italian company also plans to pump $28B into exploration and production activities in Africa in the next few years.
- Eni says its recently announced plan to sell its stake in a natural gas field in the far north of Russia to Gazprom (OGZPY) for ~$2.9B does not mean it is pulling out of the Russian Arctic.
- Also, Scaroni confirms reports that Eni may demand as much as $10B from Statoil (STO) in arbitration from a dispute over several years of long-term gas contracts.
Wednesday, Nov 207:08 AMEni sells majority holding in Arctic Russia for $2.94B
Wednesday, Nov 207:08 AM| Comment!
- Eni (E) has agreed to sell its 60% stake in Arctic Russia to to Yamal Development, a joint venture owned by Novatek (NOVKY) and GazpromNeft (OGZPY), for $2.94B.
- "With this sale, Eni monetizes its investment in Siberian upstream assets, which have...significantly matured," the company said.
- Arctic Russia owns 49% of Severenergia, which holds four licenses for the exploration and production of hydrocarbons in the region of Yamal Nenets in Siberia. (PR)
Friday, Nov 1511:54 AMGazprom says Ukraine resumes purchasing Russian gas
Friday, Nov 1511:54 AM| Comment!
- Ukraine has resumed buying Russian gas and has stopped taking gas from its underground storage facilities, Gazprom (OGZPY) CEO Alexei Miller says.
- Ukraine had said it stopped taking Gazprom's gas at the start of November because it had sufficient supplies until the end of the year.
- Tensions between the two countries over gas have intensified sharply in recent weeks, raising concerns of a repeat of supply problems that disrupted winter deliveries to Europe in 2006 and 2009.
Thursday, Nov 148:37 AMGazprom says Europe exports to hit five-year high
Thursday, Nov 148:37 AM| Comment!
- Russia's Gazprom (OGZPY, OGZRY) says it is on track to deliver its highest volumes of gas to Europe since 2008, as demand for its pipeline gas spiked amid lower supplies of liquefied gas delivered by tanker.
- Gazprom profits slumped last year as sales in Europe dropped due to increased competition and lower demand, but the company says exports to Europe are up 15.6% YTD.
- Demand has been driven by European countries refilling stocks after a long, cold winter, while supplies of liquefied natural gas to Europe have dropped because they are being diverted to Asian markets, where prices are higher.
Tuesday, Nov 1210:15 AMJ.P. Morgan thinks Gazprom deal with China inevitable
Tuesday, Nov 1210:15 AM| 2 Comments
- No other large cap stock in Russia offers better potential to double over the next three years than Gazprom (OGZPY), J.P. Morgan says as it upgrades shares to Buy with a $6 price target.
- Gazprom has been eager to diversify away from Europe and clinch a natural gas supply deal with China for a while, but pricing is the biggest hurdle; the firm believes China will relent on prices and a firm contract is "inevitable over the 12M horizon."
- China’s NDRC agency faces supply gaps beyond 2017, particularly in the country's northeast regions where Russian gas would arrive, the firm points out; it expects Gazprom’s gas to be priced above Central Asian imports but below prevalent LNG price levels.
Tuesday, Oct 2912:57 PMGazprom demands Ukraine gas payment
Tuesday, Oct 2912:57 PM| Comment!
- Gazprom (OGZPY) is demanding Ukraine settle an overdue bill for natural gas supplies of almost $900M, raising concerns of a repeat of supply cuts to Ukraine that disrupted deliveries to Europe twice in recent years.
- Gazprom CEO Alexei Miller says Ukraine hadn't paid for August supplies, despite Gazprom extending a payment deadline to the start of October, and that the company could start demanding advance payments.
- The country relies on Russia for almost all its gas imports and transports the bulk of Russia's gas deliveries to Europe.
Wednesday, Oct 93:25 PMRussia says drugs were seized from Gazprom protesters
Wednesday, Oct 93:25 PM| 2 Comments
- Russian authorities aren't messing around with Greenpeace protesters against Gazprom (OGZPY.PK), saying drugs were seized from the ship the environmental activists used in an Arctic protest and warning that more serious charges may be added to a piracy case.
- The detention of 28 activists and two journalists from 18 countries, who are facing as long as 15 years in jail, has provoked a diplomatic row as the Netherlands seeks to force Russia to release the Dutch-registered ship and its crew, detained after two protesters scaled Gazprom's Prirazlomnoye oil rig in the Pechora Sea.
Monday, Oct 712:28 PMReport: Gazprom boosts 2013 investment program by 46% to $32B
Monday, Oct 712:28 PM| Comment!
- Gazprom (OGZPY.PK, OGZRY.OB) reportedly is increasing its capex program by 46% to $32B for the current year, heightening concerns about its ability to rein in rising costs.
- Interfax news agency reports the Russian state-run company has increased its planned investments to 1.03T rubles ($32B) from a previous 705B rubles, mainly due to growing long-term financial costs.
- It's not clear where the rise in investments comes from, but earlier this year Gazprom acquired 90% of Moscow power generation company MOEK, with a bid of ~$3B.
Thursday, Oct 311:29 AMGazprom says it's on track to launch Arctic field this year
Thursday, Oct 311:29 AM| Comment!
- Gazprom (OGZPY.PK) says it is on track to begin oil production this year at the Prirazlomnoye Arctic oil project that has ignited protests from environmental groups over the dangers of possible oil spills.
- Prirazlomnoye has estimated reserves of 526M barrels of oil, and Gazprom expects to reach peak production of 120K bbl/day in 7-8 years.
- Russia has charged Greenpeace activists with piracy for their demonstration against Arctic oil drilling, which the Kremlin sees as a key to Russia's future prosperity.
Thursday, Oct 39:59 AMRussian oil and gas pair said to eye Eni's stake in SeverEnergia
Thursday, Oct 39:59 AM| Comment!
- Gazprom (OGZPY.PK) and Novatek (NOVKY.OB) reportedly want to buy Eni's (E) 29.4% stake in Russian gas company SeverEnergia, which would help the Russian duo counter the influence of Rosneft (RNFTF.PK), which last month agreed to purchase Enel's indirect stake in SeverEnergia for $1.8B.
- The contest in Russia for gas resources and markets comes to a head as the government reviews a proposal for a partial lifting of Gazprom's export monopoly for tanker-shipped liquefied natural gas from the start of next year.
- SeverEnergia owns licenses for nine gas fields in Russia, with proven and probable reserves of 7.3B boe.
Thursday, Oct 38:49 AMEU preparing to charge Gazprom in antitrust case
Thursday, Oct 38:49 AM| Comment!
- The European Union's antitrust watchdog is preparing to charge Russia's Gazprom (OGZPY.PK) with abusing its dominant position in central and eastern Europe, a move that could lead to a fine of up to $15B.
- The action against Gazprom is likely to ratchet up the tension between Europe and Russia, which has criticized EU attempts to boost energy market competition and end its over-reliance on Russian supplies.
- A source familiar with the matter tells Reuters the regulator plans to take action by the end of the year.
Friday, Sep 2711:42 AMExxon, Rosneft award LNG FEED work to CB&I, Foster Wheeler
Friday, Sep 2711:42 AM| 3 Comments
- ExxonMobil (XOM -0.3%) and partner Rosneft (RNFTF.PK) award preliminary front end engineering and design contracts to CB&I (CBI) and Foster Wheeler (FWLT) for a proposed liquefied natural gas facility in Russia's far east.
- XOM and Rosneft want to build an LNG plant - likely near Sakhalin Island where the two companies hold leases to produce natural gas - to liquefy 5M tons/year for export because domestic demand in Russia is more than ample.
- With its LNG plan, Rosneft is signaling it expects the Russian government to grant it the right to export LNG to international markets, bypassing Gazprom’s (OGZPY.PK) monopoly over gas exports from Russia.
Wednesday, Sep 258:11 AMGazprom opposes planned Exxon-Rosneft LNG project
Wednesday, Sep 258:11 AM| Comment!
- Gazprom (OGZPY.PK) voices strong opposition to the plans of Rosneft (RNFTF.PK) and Exxon Mobil (XOM) to build a gas liquefaction plant on Russia's Sakhalin Island in the Pacific and is prepared to continue talks on buying and liquefying the gas itself.
- Gazprom operates Russia's only liquefied natural gas plant, but is facing competition from the planned Rosneft-Exxon plant and Novatek's Yamal LNG.
Tuesday, Sep 248:52 AMRosneft to buy Enel's SeverEnergia stake for $1.8B
Tuesday, Sep 248:52 AM| Comment!
- Rosneft (RNFTF.PK) agrees to buy Enel's stake in Russian natural gas producer SeverEnergia for $1.8B, as the world's largest listed oil producer attempts to boost its gas output.
- Rosneft will acquire a 19.6% stake in SeverEnergia by purchasing Enel's 40% stake in a joint venture with Eni (E).
- Gazprom Neft, the oil arm of state gas firm OAO Gazprom (OGZPY.PK), holds 51% of SeverEnergia, which holds licenses on the Yamal peninsula in Russia's Arctic.
Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.