OAO Gazprom (GAZP), the Russian gas exporter forced to revise contracts with RWE AG (RWE) last month, is set for further legal wrangles after Electricite de France SA’s Italian unit initiated arbitration proceedings.
The authorities of the Russian Federation approved the draft intergovernmental agreement on cooperation in the field of transportation, distribution and sale of natural gas on the territory of Kyrgyzstan. The corresponding order was signed by Prime Minister Dmitry Medvedev. Under the terms of the transaction, "KyrgyzGas" will sell for $ 1 to "Gazprom" its subsidiary, with all the property. This deal is available for repayment in Kyrgyzstan before the Russian debt, and in return for investment in the Kyrgyz Russian monopoly gas transmission system.
Russian Gazprom was poised to take over Greece’s Public Gas Corporation (DEPA), but has withdrawn from the tender literally on the last possible day. The final, binding offer was due to be submitted on June 10, but it did not arrive. Instead, Gazprom claims that the Greek government did not offer sufficient incentives for Gazprom to proceed with the acquisition of DEPA (Kommersant, June 11).
The visit of the Russian President in Bulgaria, which was planned on the first decade this month, has been postponed. Nevertheless, it is expected that Vladimir Putin shall visit Sofia right after Turkey. Yet instead of the Head of Russian State Bulgaria shall be visited by “Gazprom” Chairman Alexey Miller who shall proceed with signing of the series of final investment treaties with East European partners of Russia on the “South Stream”.
Russian gas export monopoly Gazprom reported sales declines in Europe and its home market, showing the importance of its strategy to expand into Asia.
President Dalia Grybauskaitė and EU Energy Commissioner Guenther Oettinger discussed the progress made by Lithuania and all Baltic countries in integrating themselves into the EU's energy system and the creation of regional gas and electricity markets during their meeting in Vilnius on Friday.
The Problem of Development of Shtokman Field has Many Components.
The EU was not set on levying fines, but rather was interested in establishing a dialogue, European Parliament representative Bela Kovacs announced this week.
«Gazprom» Figured Out the Way to Prevent Gas Production Reduction. It became known to Vedomosti that gas purchases from independent producers have been suspended for indefinite period.
Russian gas giant Gazprom has completed the welding of the last joint on the second leg of the Nord Stream pipeline intended to deliver Russian natural gas to Europe bypassing existing transit countries, the company said on Wednesday.