Gazprom

US threatens to sanction European firms involved in Russian gas project

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– US threatens to sanction European firms involved in Russian gas project:

The US State Department has issued a warning over probable penalties against corporations engaged in the construction of the Nord Stream 2 gas pipeline, claiming that the Russian project undermines energy security in Europe.

“As many people know, we oppose the Nord Stream 2 project, the US government does,” State Department spokesperson Heather Nauert said during a news briefing. “We believe that the Nord Stream 2 project would undermine Europe’s overall energy security and stability. It would provide Russia [with] another tool to pressure European countries, especially countries such as Ukraine.”

https://twitter.com/RT_com/status/975768862615621632

The pipeline project was started in 2015 as a joint venture between Russia’s Gazprom and its European partners, including France’s Engie, Austria’s OMV, German Uniper and Wintershall, as well as British-Dutch multinational Royal Dutch Shell. The pipeline, running from Russia to Germany under the Baltic Sea, is set to double the existing pipeline’s capacity of 55 billion cubic meters per year.

Read moreUS threatens to sanction European firms involved in Russian gas project

Russia’s Grip on European Natural Gas Markets Tightens

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– Russia’s Grip on European Natural Gas Markets Tightens:

US LNG has been billed as a game changer, threatening to end Russia’s control of the European market.

By Nick Cunningham of Oilprice.com:

Despite years of effort from the EU, Russia’s grip over natural gas supplies in Europe is tightening, not waning.

Gazprom shipped 190 billion cubic meters of natural gas to Europe in 2017—a record high, according to Bloomberg. In 2018, that figure is expected to dip slightly to 180 billion cubic meters, which will still be the second most on record.

Read moreRussia’s Grip on European Natural Gas Markets Tightens

Gazprom to begin Turkish Stream construction in next few days

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– Gazprom to begin Turkish Stream construction in next few days:

Russian energy giant Gazprom will begin construction on the Black Sea portion of the Turkish Stream natural gas pipeline in a few days, according to CEO Aleksey Miller, who spoke to reporters on Thursday.

“We have finished all preparatory and mobilization works [on the Turkish Stream project]. I report to you that we are ready to start the construction of the sea stretch of the Turkish Stream gas pipeline in a few days,” Miller said after a meeting with Russian President Vladimir Putin.

Read moreGazprom to begin Turkish Stream construction in next few days

Gazprom cutting gas supplies to Turkey

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Russian-President-Vladimir-Putin

– Gazprom cutting gas supplies to Turkey:

The already strained relations between Moscow and Ankara have taken a turn for the worse. Gazprom has cut gas supplies by nearly a quarter after failing to reach an agreement with Turkish importers on discounts for Russian natural gas.

Delivery is down 23 percent, compared to the same period last year, Interfax reports, quoting data from Bulgarian gas operator Bulgartransgaz that processes about 50 percent of Russian gas going to Turkey.

According to the news agency sources, the reduction is linked to a price dispute between Gazprom and Turkey’s private gas importers.

Read moreGazprom cutting gas supplies to Turkey

Russia, Greece Ink Pipeline Deal As Gazprom Boosts Ukraine Bypass

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Greece completes stage one of the dreaded “Russian pivot” as energy ministers from Athens and Moscow ink an MOU on Gazprom’s Turkish Stream pipeline. Meanwhile, Gazprom signs a deal with Shell and others to double the capacity of the Nord line, a move which will, over time, decrease the energy giant’s dependence on Ukraine for transport.

– Russia, Greece Ink Pipeline Deal As Gazprom Boosts Ukraine Bypass (ZeroHedge, June 18, 2015):

Two weeks ago, in “Greece Breaks America’s Heart, Will Sign MOU With Russia For Gas Pipeline,” we highlighted comments from Greek Energy Minister Panagiotis Lafazanis which indicated that Athens was prepared to sign an MOU with Russia on the Turkish Stream pipeline.

As a reminder, The Turkish Stream will allow Gazprom to bypass Bulgaria by piping gas through Turkey, then through Greece, Serbia, and Hungary straight to the Austrian central hub.

GreecePipelinesGas

Washington urged Greece to spurn the Russians and support an alternative pipeline plan designed to let the EU tap into Caspian gas via a series of connecting pipelines running from Azerbaijan to Italy. The Greeks, seeing no need to view the two pipeline projects as competitors, indicated that they would be open to supporting both. “Greece is no one’s property,” Lafazanis said, adding that Athens would “move based on its national interests.” 

Read moreRussia, Greece Ink Pipeline Deal As Gazprom Boosts Ukraine Bypass

Russia’s Gazprom and China’s CNPC to exclude dollar from gas settlements

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– Russia’s Gazprom and China’s CNPC to exclude dollar from gas settlements (RT, June 16, 2015):

Russia and China expect to use the ruble and yuan in payments for gas supplied using the western Altay pipeline. When it and the eastern Power of Siberia pipeline is open Beijing will become the biggest consumer of Russian gas.

“As a sales contract is not signed, then, of course, the currency of payment has not yet been determined. However, the Chinese side and the Russian side are discussing [currency-Ed.] today and are in intricate negotiations on the possibility of paying in yuan and rubles,”Gazprom Export CEO Elena Burmistrova said Tuesday.

Read moreRussia’s Gazprom and China’s CNPC to exclude dollar from gas settlements

The PetroYuan Is Born: Gazprom Now Settling All Crude Sales To China In Renminbi

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Yuan

–  The PetroYuan Is Born: Gazprom Now Settling All Crude Sales To China In Renminbi (ZeroHedge, June 9, 2015):

As Russia adjusts to Western sanctions stemming from the conflict in Ukraine, Gazprom is now settling all crude sales to China in renminbi. At the intersection of the petrodollar’s death and yuan hegemony is: the PetroYuan…

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EU charges Gazprom with ‘abusing’ market position in Central & Eastern Europe

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gazprom

– EU charges Gazprom with ‘abusing’ market position in Central & Eastern Europe (RT, April 22, 2015):

Russia’s biggest gas utility, Gazprom, was hit with an antitrust case by European Union regulators for “abusing” its dominant position and overcharging customers for gas supplies. The investigation against the Gazprom has been ongoing for 2 years.

“We find that it (Gazprom) may have built artificial barriers preventing gas from flowing from certain Central Eastern European countries to others, hindering cross-border competition,” European Competition Commissioner Margrethe Vestager said in a statement. Vestager said there is no political element to the case.

Read moreEU charges Gazprom with ‘abusing’ market position in Central & Eastern Europe

Greece May Sign Russia Gas Deal As Soon As Today

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Russian President Putin and Greek Prime Minister Tsipras attend a signing ceremony at the Kremlin in Moscow

– Greece May Sign Russia Gas Deal As Soon As Today (ZeroHedge, April 21, 2015):

It appears that Herr Schaeuble will be left in the cold disappointed as following comments from the Greek energy minister that a deal is coming “soon,”  it is being reported that:

*RUSSIA MAY SIGN GAS LINK ACCORD W/ GREECE TODAY: ROSSIYA 24
*GREECE MAY GET LOANS USING RUSSIA GAS TRANSIT GUARANTEE: MILLER

According to Gazprom’s CEO comments on Greek TV, following his meeting with Greek PM Tsipras, Russia will guarantee 47BCM/YR of gas via Greece with the link to be built by a Russian-European group at a cost of around €2 billion.

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As Gazprom CEO Arrives In Athens, EU (Coincidentally) Files Anti-Trust Charges Against Russian Giant

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Gazprom-Logo

– As Gazprom CEO Arrives In Athens, EU (Coincidentally) Files Anti-Trust Charges Against Russian Giant (ZeroHedge, April 20, 2015):

As the head of Russian gas giant Gazprom, Alexei Miller, arrives in Athens tomorrow (for talks with Greek PM Tsipras about “current energy issues of interest,” which we suspect will include finalizing the “Turkish Stream” pipeline heralded by many as Greece’s potential get-out-of-Troika-jail-card), he will face an increasingly anxious European Union. Fresh from its suit against Google, the WSJ reports, the EU’s competition regulator plans to file formal antitrust charges against Russia’s state-owned gas company OAO Gazprom on Wednesday. This re-opens a suit from 2012 saying that it suspected the company of abusing its dominant position in those countries’ natural-gas supply. It appears Europe is getting nervous…

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Gazprom says Ukraine paid another $15mn, enough for 5 days gas

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Russian_gas_in_europe

– Gazprom says Ukraine paid another $15mn, enough for 5 days gas (RT, March 5, 2015):

Naftogaz has paid for 45.6 million cubic meters of gas which is enough to cover consumption for 5 days, according to Gazprom spokesperson Sergey Kupriyanov.

“Naftogaz has made a prepayment of $15 million for March gas supplies. Gazprom has received the sum into its payment account. This sum covers some 45.6 million cubic meters of gas, which is enough only for 5 days,” Kupriyanov said.

Currently Ukraine is accepting 10 million cubic meters of gas daily, Kupriyanov explained.

Read moreGazprom says Ukraine paid another $15mn, enough for 5 days gas

Putin Slams Ukraine Decision To Cut-Off Gas To East As “Genocidal”

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Russian president Vladimir Putin

– Putin Slams Ukraine Decision To Cut-Off Gas To East As “Genocidal” (ZeroHedge, Feb 25, 2015):

Ukrainian authorities decision to halt gas supplies to Donetsk amid the ongoing humanitarian catastrophe occurring there “bear the hallmarks of genocide,” blasted Russia’s Vladimir Putin during an awkward press conference with Cyprus’ President Nicos Anastasiades (who he had just agreed bilateral military and trade deals with). “Apparently, some responsible leaders of the modern-day Ukraine are unable to understand the importance of humanitarian issues,” Sputnik News reports Putin concluded. In an attempt to gain leverage and force Ukraine’s hand however, Russia’s Gazprom has indicated it intends to suspend gas deliveries to Ukraine (and thus Europe via pipelines) unless Kiev makes a further prepayment.

Read morePutin Slams Ukraine Decision To Cut-Off Gas To East As “Genocidal”

Russia Cuts Off Ukraine Gas Supply To 6 European Countries

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Putin-134

– Russia Cuts Off Ukraine Gas Supply To 6 European Countries (ZeroHedge, Jan 14, 2015):

Vladimir Putin ordered the Russian state energy giant Gazprom to cut supplies to and through Ukraine amid accusations, according to The Daily Mail, that its neighbor has been siphoning off and stealing Russian gas. Due to these “transit risks for European consumers in the territory of Ukraine,” Gazprom cut gas exports to Europe by 60%, plunging the continent into an energy crisis “within hours.” Perhaps explaining the explosion higher in NatGas prices (and oil) today, gas companies in Ukraine confirmed that Russia had cut off supply; and six countries reported a complete shut-off of Russian gas. The EU raged that the sudden cut-off to some of its member countries was “completely unacceptable,” but Gazprom CEO Alexey Miller later added that Russia plans to shift all its natural gas flows crossing Ukraine to a route via Turkey; and Russian Energy Minister Alexander Novak stated unequivocally, “the decision has been made.”

Read moreRussia Cuts Off Ukraine Gas Supply To 6 European Countries

Ukraine PM Cries “Russia Wants Us To Freeze” As Locals Prepare For A Long, Cold Winter

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– Ukraine PM Cries “Russia Wants Us To Freeze” As Locals Prepare For A Long, Cold Winter (ZeroHedge, Sep 26, 2014):

We would like to be able to commiserate with Ukraine’s US-muppet regime, we really would, but when Ukraine’s PM Argeny Yatseniuk, or Yats as he is known to Victoria Nuland, almost cried in an interview with Reuters yesterday when he pleaded that “[Russia] wants us to freeze… This is the aim and this is another trump card in Russian hands…. So, except military offense, except military operation against Ukraine, they have another trump card, which is energy”. we have just two things to say to him: i) he is absolutely correct, about Russia having the trump card that is – something obvious to everyone with half a brain from the start of the conflict, and ii) perhaps Ukraine should finally pay Gazprom not only for the gas they would like to use in the future, but also the gas they have already used and payment for which is overdue and which the IMF, i.e., the US taxpayer, gave Ukraine explicit money to pay for and instead was embezzled by the people in power.

Read moreUkraine PM Cries “Russia Wants Us To Freeze” As Locals Prepare For A Long, Cold Winter

Russia may restrict import of Western cars, clothes in new sanctions tit-for-tat

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russian-response-sanctions-cars

– Russia may restrict import of Western cars, clothes in new sanctions tit-for-tat (RT, Sep 12, 2014):

Imports of Western cars and clothes into Russia could be restricted as part of a second round of “retaliatory” measures prepared in response to the sanctions against Moscow, says presidential aide Andrey Belousov.

There are many sellers of non-agricultural goods in the West who are heavily dependent on the Russian market, the official said.

Read moreRussia may restrict import of Western cars, clothes in new sanctions tit-for-tat

US Unveils Latest Russian Sanctions, Putin Immediately Responds That Russia Drafting Retaliation

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Putin111

– US Unveils Latest Russian Sanctions, Putin Immediately Responds That Russia Drafting Retaliation (ZeroHedge, Sep 12, 2014):

Moments ago, as was widely preannounced, the US Treasury unveiled its latest round of Russian sanctions. While the bigger picture was well-known, here are some of the highlights:

  • U.S. SANCTIONS FOCUS ON FINANCIAL, ENERGY, DEFENSE SECTORS
  • U.S. TREASURY ADDS SBERBANK TO SANCTIONS LIST,
  • U.S. TREASURY SANCTIONS AFFECTS GAZPROM, GAZPROM NEFT, LUKOIL, ROSNEFT, AND SURGUTNEFTGAZ
  • U.S. TIGHTENS DEBT FINANCING RESTRICTIONS TO 30 DAYS

As Bloomberg reports, action deepens existing sanctions on Russian financial institutions, expands sanctions on Russia’s energy sector, targets additional energy- and defense-related firms, U.S. Treasury says in statement. “Today’s actions demonstrate our determination to increase the costs on Russia as long as it continues to violate Ukraine’s territorial integrity and sovereignty,” Under  Secretary for Terrorism and Financial Intelligence David S. Cohen says in statement

Treasury Dept says it “maintains significant scope to expand these sanctions.”

Read moreUS Unveils Latest Russian Sanctions, Putin Immediately Responds That Russia Drafting Retaliation

Here Is Why Europe Just Launched The “Nuclear Option” Against Russia

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– Here Is Why Europe Just Launched The “Nuclear Option” Against Russia (ZeroHedge, Sep 8, 2014):

Europe’s leaders, we assume under pressure from Washington, appear to be making a big weather-related bet with their taxpayers’ lives this winter.  As they unleash funding sanctions on Russia’s big energy producers, Europe has pumped a record volume of natural gas into underground inventories in an effort to ‘outlast’ Russia and mitigate any Napoleonic “Winter War” scenario. The plan appears to be to starve Russian energy firms of cashflow – as flows to Europe are already plunging – and remove their funding ability, potentially forcing severe hardship on Russia’s key economic drivers. There appears to be 3 potential problems with this plan…

As Bloomberg reports,

Europe’s reliance on Russian natural gas shipments via Ukraine is declining after the region pumped a record volume of the fuel into underground inventories, minimizing the risk of shortages during the coming winter.

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Read moreHere Is Why Europe Just Launched The “Nuclear Option” Against Russia

Europe Goes ‘All In’: Will Sanction Gazprom, Rosneft And Transneft

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SUICIDE-GUN

– Europe Goes “All In”: Will Sanction Rosneft, Gazprom Neft And Transneft (ZeroHedge, Sep 7, 2014):

Until this moment, the main reason why everyone mostly dismissed Europe’s sanctions against Russia is that despite all its pompous rhetoric, Europe consistently refused to hit Russia where it would hurt: its energy titans Gazprom, Rosneft And Transfneft. The reason is simple: by imposing sanctions on these core energy exporters, Europe would directly threaten the stability of its own energy imports (Russia accounts for up to 30% of German gas imports), and as winter approaches with every passing day, playing with the energy status quo would seem like economic suicide. This all appears to have changed last Friday, when as the FT reports from a leaked copy, Europe’s latest sanctions round will boldly go where Europe has never dared to go before, and impose sanctions on the big three: Rosneft, Gazprom Neft and Transneft.

This is what is known in game theory terms as a major defection round.

Read moreEurope Goes ‘All In’: Will Sanction Gazprom, Rosneft And Transneft

Russia’s Gazprom To Fall Under New EU Capital Ban – Sources

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Obama-Sanctions-Costs

– Russia’s Gazprom to fall under new EU capital ban – sources (RT, Sep 7, 2014):

Russia’s Gazprom Bank and oil producer Gazprom Neft will fall under new sanctions approved by the European Union on Friday, Reuters cited an EU diplomat as saying. The sanctions reportedly include a new ban on raising capital in the 28-nation bloc.

The sanctions were agreed against Russia for its alleged role in the Ukrainian crisis, the diplomatic source said.

Read moreRussia’s Gazprom To Fall Under New EU Capital Ban – Sources

Europe Goes ‘All In’: Will Sanction Rosneft, Gazprom Neft And Transneft

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– Europe Goes “All In”: Will Sanction Rosneft, Gazprom Neft And Transneft (ZeroHedge, Sep 7, 2014):

Until this moment, the main reason why everyone mostly dismissed Europe’s sanctions against Russia is that despite all its pompous rhetoric, Europe consistently refused to hit Russia where it would hurt: its energy titans Gazprom, Rosneft And Transfneft. The reason is simple: by imposing sanctions on these core energy exporters, Europe would directly threaten the stability of its own energy imports (Russia accounts for up to 30% of German gas imports), and as winter approaches with every passing day, playing with the energy status quo would seem like economic suicide. This all appears to have changed last Friday, when as the FT reports from a leaked copy, Europe’s latest sanctions round will boldly go where Europe has never dared to go before, and impose sanctions on the big three: Rosneft, Gazprom Neft and Transneft.

Read moreEurope Goes ‘All In’: Will Sanction Rosneft, Gazprom Neft And Transneft

The Nail In The Petrodollar Coffin: Gazprom Begins Accepting Payment For Oil In Ruble, Yuan

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xi-jinping-vladimir-putin

– The Nail In The Petrodollar Coffin: Gazprom Begins Accepting Payment For Oil In Ruble, Yuan (ZeroHedge, Aug 27, 2014):

Several months ago, when Russia announced the much anticipated “Holy Grail” energy deal with China, some were disappointed that despite this symbolic agreement meant to break the petrodollar’s stranglehold on the rest of the world, neither Russia nor China announced payment terms to be in anything but dollars. In doing so they admitted that while both nations are eager to move away from a US Dollar reserve currency, neither is yet able to provide an alternative.

This changed in late June when first Gazprom’s CFO announced the gas giant was ready to settle China contracts in Yuan or Rubles, and at the same time the People’s Bank of China announced that its Assistant Governor Jin Qi and Russian central bank Deputy Chairman Dmitry Skobelkin held a meeting in which they discussed cooperating on project and trade financing using local currencies. The meeting discussed cooperation in bank card, insurance and financial supervision sectors.

And yet, while both sides declared their operational readiness and eagerness to bypass the dollar entirely, such plans remained purely in the arena of monetary foreplay and the long awaited first shot across the Petrodollar bow was absent.

Until now.

According to Russia’s RIA Novosti, citing business daily Kommersant, Gazprom Neft has agreed to export 80,000 tons of oil from Novoportovskoye field in the Arctic; it will accept payment in rubles, and will also deliver oil via the Eastern Siberia-Pacific Ocean pipeline (ESPO), accepting payment in Chinese yuan for the transfers. Meaning Russia will export energy to either Europe or China, and receive payment in either Rubles or Yuan, in effect making the two currencies equivalent as far as the Eurasian axis is conerned, but most importantly, transact completely away from the US dollar thus, finally putin'(sic) in action the move for a Petrodollar-free world.

Read moreThe Nail In The Petrodollar Coffin: Gazprom Begins Accepting Payment For Oil In Ruble, Yuan

Gazprom To Europe: We Own You (At Least Until 2016)

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–  Gazprom To Europe: We Own You (At Least Until 2016) (ZeroHedge, Aug 14, 2014):

It is no secret that in scrambling to find an alternative to Russia’s energy-export dominance, Europe is actively seeking to recreate the US shale miracle (at least superficially, recall that a month ago Germany shelved shale-gas drilling plans until at least 2021, when it would again reassess the shale ban). Curiously, one of the few places that features as a most probable candidate for shale drilling, is none other than Ukraine itself whose Dnieper-Donets basin is a place targeted by local energy company Burisma, where as we have reported extensively in the past, none other than Joe Biden’s son, Hunter, has been strategically placed as a director to give the US a front line of sight into drilling developments.

There is one problem, however, and a rather major one at that: it will take Europe years, in a best case scenario at that, before it can bring its shale output online. In fact, according to Gazprom’s quarterly report released on Wednesday, shale gas production in Europe could be possible in Europe not earlier than in 2016-2018. Which, of course, is Gazprom’s polite way of saying that for at least the next two years, and likely far longer, European marginal gas needs will be met by the dreaded Russian semi-nationalized monopoly, which in turn means that for all the posturing, the Kremlin will have an exclusive “right of first refusal” to determine European economic growth with the literal push of a button.

“Commercial shale gas production in Europe can begin not earlier than in 2016-2018 even with positive geological surveys. But production volumes will not bring about major changes in the European gas market due to a decline in conventional gas production,” the report said.

Read moreGazprom To Europe: We Own You (At Least Until 2016)

Ukraine Prepares To Impose Russian Gas Transit Ban, Commit Economic Suicide

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SUICIDE-GUN

– Ukraine Prepares To Impose Russian Gas Transit Ban, Commit Economic Suicide (ZeroHedge, Aug 8, 2014):

While Ukraine has long since ceased being a customer of Gazprom (for the simple reason being that it can’t afford to pay for historical gas purchases let alone future ones, and with a long cold winter just 3 months ahead, Kiev is praying that its brand new Western “allies” will give it the loans it needs to buy Europe-sourced gas), the bulk of Russia-sourced gas into Europe still transits through Ukraine.

russian gas ban

Not surprisingly, Ukraine correctly understands this is the last trump card it has in any negotiation with the west, or the east. It is this trump card that went into play moments ago when Ukraine’s Prime Minister who recently resigned and whose resignation was not accepted, said that Ukraine is considering banning the transit of all Russian “energy resources”, i.e. European gas.

More:

Ukraine ready to impose sanctions against any transit via its territory, including air flights and gas supplies to Europe, Prime Minister Arseniy Yatsenyuk said Friday. Ukraine’s Parliament will vote on the sanctions on Tuesday. Kiev has also prepared a list of 172 Russian citizens and 65 companies predominantly Russian to put under sanctions for “sponsoring terrorism, supporting the annexation of Crimea, and violating the territorial integrity of Ukraine,” Yatsenyuk said at a briefing on Friday.

Read moreUkraine Prepares To Impose Russian Gas Transit Ban, Commit Economic Suicide

Hillary Clinton Tells EU To Use MH17 Tragedy To Find Alternatives To Gazprom (Dollar Dumping Gas Giant)

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H/t reader squodgy:

“So glad this bitch has arrived on the scene.

Now we know for sure it is all a set up.”

And here are some pics to show the world whose ‘bitch’ she is:

Hillary-Clinton-AIPAC Hillary-Clinton-AIPAC

Hillary-Clinton-CFR Hillary-Clinton-Kissinger

Hillary Rodham Clinton Satanic Handsign Anton Lavey, Founder of the 'Church of Satan'

– Hillary Tells EU to Use MH17 Tragedy to Find Alternatives to Gazprom (dollar dumping gas giant) (Activist Post, July 20, 2014):

Ah, now the agenda is starting to make a bit more sense. Hillary Clinton doesn’t want a good crisis to go to waste. She told Charlie Rose that her recommendation to the European Union is to take advantage of the shot-down MH17 tragedy to “Immediately accelerate efforts to find alternatives to Gazprom.”

Moscow-based Gazprom is the largest producer of natural gas in the world and one of the globe’s largest companies. A few weeks back on June 26th they announced that they would settle contracts with China using yuan or rubles instead of dollars. This move came about one month after Russia and China announced a record $400B gas deal. That’s a whole lot of dollars that won’t be needed in the international economy.Couple that with the launch of the BRICS development bank, and motive for aggressive posturing towards Russia becomes a bit clearer.

Read moreHillary Clinton Tells EU To Use MH17 Tragedy To Find Alternatives To Gazprom (Dollar Dumping Gas Giant)