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Companies & Finance

Gazprom posts $10 billion profit in Q2 results

Russia’s Gazprom, the world’s largest producer of gas, said on Wednesday that its second quarter net profit hit 303.7 billion rubles ($10.03 billion) because of rising sales.

9 November 2011
Supply & Demand

Total confident of Yamal LNG supply to Asia-Pacific markets

Total is confident that the Asia Pacific markets are the most viable destinations for LNG produced on the Yamal peninsula, Total Chief Executive Christophe de Margerie said during the Global Energy Intelligence Day conference in Moscow on Wednesday.

9 November 2011
Pipelines, Storage & Power

Calls for co-operation at Nord Stream launch

The Nord Stream gas pipeline between Russia and Germany was officially inaugurated on Tuesday at a ceremony where Russian President Dmitry Medvedev called for more co-operation between his country and

8 November 2011
Pipelines, Storage & Power

Naftogaz settles with Gazprom for October gas supplies

Ukraine’s national oil and gas company Naftogaz Ukrainy has settled accounts with Russian gas giant Gazprom for the gas it supplied to the country, a source in the Ukrainian government has told Interfax.

8 November 2011
Pipelines, Storage & Power

Russia-South Korea pipeline talks progress

Talks between Russia and South Korea about building a gas pipeline between the two countries appear to be progressing, despite the difficulties in securing safe transit through North Korea.

8 November 2011
Pipelines, Storage & Power

Shah-Deniz consortium outlines blueprint for expansion of SCP

Azerbaijan and partners in the Shah-Deniz consortium are working on a plan to expand the capacity of the South Caucasus Pipeline.

7 November 2011
Supply & Demand

PGNiG turns to tribunal over Gazprom price review

Poland's PGNiG has asked the Arbitration Tribunal in Stockholm to open proceedings to try to change the current price terms of gas supplied to Poland by Russia's Gazprom, the Polish company said in a statement.

7 November 2011
LNG

Kazmunaigas, Eni to build gas-turbine power plant in Western Kazakhstan in 2013

Kazakhstan's national oil and gas company Kazmunaigas and Italian energy company Eni plan to start building a gas-turbine electric power station in west Kazakhstan in 2013.

7 November 2011
Pipelines, Storage & Power

Turkmen leader pins support for trans-Caspian pipeline

Turkmenistan’s leader said on Thursday that energy exports to Europe were a fundamental aspect of his country’s foreign policy and reinforced his support for a Western-backed pipeline to bypass Russia and pump gas beneath the Caspian Sea.

4 November 2011
LNG

Gazprom champions expansion of CNG use in Russia

Gazprom is promoting the use of compressed natural gas (CNG) as a domestic motor fuel in Russia’s transportation sector.

4 November 2011
Supply & Demand

Ukraine increases gas transit to Europe and CIS in 10 months - Ukrtransgaz

Transit of gas through Ukraine to Commonwealth of Independent States (CIS) and European countries increased by 8.2% year-on-year to 85.5 billion cubic metres in January-October 2011, Ukrtransgaz (a subsidiary of Naftogaz Ukrainy), said on Thursday.

3 November 2011
Supply & Demand

Third Energy Package upsets ‘balance of relations’ - Medvedev

Europe’s approval of the Third Energy Package will upset the current “balance of relations” between suppliers, transit states and consumers, Russia’s President Dmitry Medvedev said at the G20 Business Summit in Cannes, on Thursday.

3 November 2011
Pipelines, Storage & Power

Nabucco success may hinge on trans-Caspian link

The success of the proposed Nabucco pipeline in the southern corridor may ultimately depend on whether another proposed and contentious project, the trans-Caspian link, succeeds as well, Michael Denison, research director at Control Risks, said on Wednesday.

2 November 2011
Supply & Demand

Azerbaijani gas transit route to be chosen in mid-2012

The final Azerbaijani-gas transit route through Turkey to Europe will be determined in mid-2012, the State Oil Company of the Azerbaijani Republic's (SOCAR) Vice-President for Marketing Elshad Nasirov told journalists on Wednesday.

2 November 2011
Exploration & Production

Production sharing at Sakhalin-2 to start in 2012-2013

Production sharing for Sakhalin-2 between the Russian state and project operator Sakhalin Energy might start once the project posts profits in 2012-2013, sources informed about the implementation of the project's product sharing agreement (PSA) told Interfax on Tuesday.

2 November 2011
Supply & Demand

Non-Gazprom gas output continues to grow in October - Gazprombank

Russian independent oil and gas producers, led by Novatek, are continuing to increase production while Gazprom’s output declines year-on-year, Gazprombank said in a research note published on Monday.

1 November 2011
Supply & Demand

Russia-China pipeline gas deal unlikely – Milov

Russian pipeline exports to China are unlikely because of a disagreement over pricing, Vladimir Milov, the president of Russia’s Institute of Energy Policy and former advisor to the Minister of Energy for Russia, told Interfax on Tuesday.

1 November 2011
Companies & Finance

Barsky officially leaves TNK-BP

Maxim Barsky, who for a long time was considered the sole contender for the top job at TNK-BP and who had been second in command for half a year, has officially left the company as of Tuesday.

1 November 2011
Supply & Demand

BTC, Botas agree new pricing for gas at BTC pipeline pumping stations

BTC, the operator of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline, and Turkey's Botas International have agreed amendments to a deal on transporting oil via the BTC pipeline, the Turkish newspaper Hurriyet reported on Monday, citing Turkish Energy and Natural Resources Minister Taner Yildiz.

31 October 2011
Companies & Finance

TNK-BP signs deal with HRT for 45% of Solimões project in Brazil

TNK-BP has signed a farm-in and joint operating agreement with Brazilian independent HRT Participações em Petróleo for 45% of its assets in the Amazon’s Solimões Basin.

31 October 2011

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