at CNBC.com (Sat, 12:14AM)
at CNBC.com (Wed, 9:26AM)
at MarketWatch.com (Mar 4, 2014)
at CNBC.com (Sat, 12:14AM)
at CNBC.com (Wed, 9:26AM)
at MarketWatch.com (Mar 4, 2014)
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.
Thursday, Nov 142013, 8:37 AM
Thursday, Nov 142013, 8:37 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 122013, 10:15 AM
Tuesday, Nov 122013, 10:15 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 292013, 12:57 PM
Tuesday, Oct 292013, 12:57 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 92013, 3:25 PM
Wednesday, Oct 92013, 3:25 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 72013, 12:28 PM
Monday, Oct 72013, 12:28 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 32013, 11:29 AM
Thursday, Oct 32013, 11:29 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 32013, 9:59 AM
Thursday, Oct 32013, 9:59 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 32013, 8:49 AM
Thursday, Oct 32013, 8:49 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 272013, 11:42 AM
Friday, Sep 272013, 11:42 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 252013, 8:11 AM
Wednesday, Sep 252013, 8:11 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 242013, 8:52 AM
Tuesday, Sep 242013, 8:52 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.
Tuesday, Sep 102013, 7:54 AM
Tuesday, Sep 102013, 7:54 AM| Comment!
- PetroChina (PTR) is considering investing ~$10B in Russian gas fields as part of efforts by China and Russia to conclude gas-supply negotiations that have dragged on for almost a decade, Bloomberg reports.
- The assets drawing PTR's interest are located near the Siberia to Far East pipeline Gazprom (OGZPY.PK) plans to build; the pipeline, which will supply China and also bring gas to a planned liquefied natural gas plant for supplies to Japan and Korea, may become fully operational by late 2017.
- The two countries are seeking to complete a deal that would see Russia supply as much as 68B cubic meters of gas a year; a $10B deal would mark PTR’s biggest-ever purchase abroad.
Monday, Sep 92013, 12:25 PM
Monday, Sep 92013, 12:25 PM| Comment!
- Gazprom’s (OGZPY.PK) exports to Europe continue to hold at high levels in early September, up 32% Y/Y, which Citi analysts see as sign that Europe now has to rely on Gazprom for gas, which increases the company’s bargaining power on pricing.
- As Gazprom is more price sensitive than volume sensitive, the implication that Gazprom’s oil-linked contract pricing will likely remain intact is more important than the actual volumes themselves, Citi says in its Buy recommendation with a $14 price target.
Thursday, Sep 52013, 12:40 PM
Thursday, Sep 52013, 12:40 PM| Comment!
- Russia's Gazprom (OGZPY.PK) and China National Petroleum (PTR) sign a gas supply agreement that set out almost all conditions for the deal, including the pipeline route and volumes for deliveries - but not the price.
- One thing about the price is certain: It won't be linked to the U.S. Henry Hub benchmark - a decision SocGen plays down, saying “what matters to the Chinese is the price not the price formula... China wants cheap gas.”
- CNPC had wanted to link the price to Henry Hub, while Gazprom's strategy has long been to link the gas price to oil.
Wednesday, Sep 42013, 8:34 AM
Wednesday, Sep 42013, 8:34 AM| Comment!
- Gas producer Novatek (NOVKY.OB) agrees to a 284B ruble deal ($8.5B) to supply more gas to E.ON (EONGY.PK) Russia in 2014-27.
- The agreement allows Novatek, Russia's no. 2 gas producer, to strengthen its position in the country's domestic gas market, where it has been increasing market share at the expense of Gazprom (OGZPY.PK) and other companies.
- Last year, Novatek accounted for 35% of E.ON Russia's gas purchases of 13.5B cu. meters.
Tuesday, Sep 32013, 9:15 AM
Tuesday, Sep 32013, 9:15 AM| Comment!
- Gazprom (OGZPY.PK) says its FQ1 net profit rose 5% Y/Y 380B rubles ($11.4B) from 361B as a result of higher revenue from gas sales.
- Revenue rose 19% to 1.46T rubles; gas sales to Europe, Gazprom's most lucrative market, rose 6% to 45.4B cu. meters, while gas sales in Russia fell 9% to 90.3B cu. meters.
- Booked one-time revenue gain of 73.4B rubles from earlier provisions related to retroactive price adjustments for European customers.
- View all 25 replies
iadops40:: I like the sound of that :)