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☆ Russia can't reach a pro-Russian region in Moldova easily — but there are ways it can cause trouble
▼ + stars: | 2024-03-05 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +5 min

Mikhail Svetlov/Getty ImagesMoscow is continuing its saber-rattling over the pro-Russian region of Transnistria in Moldova, and analysts are saying that while Russian authorities would find it hard to physically reach the breakaway region to annex it, there are still ways it can stir up pro-Russian unrest — and trouble for Moldova. All U.N. members consider the region to be part of Moldova, which has expressed a desire to reintegrate the region. Similarly to Ukraine, Moldova has a pro-Western government and wants to join the European Union. Problematically for Russia, Moldova and Transnistria are landlocked, sandwiched between Romania and Ukraine. CNBC has asked the Kremlin to comment on concerns that Moscow could look to destabilize Moldova and is awaiting a response.

Persons: Vladimir Putin, Mikhail Svetlov, Russia, Problematically, it's, Ian Bremmer, doesn't, Maia Sandu, Putin, Sergei Lavrov, Abdoulaye Diop, Maxim Shipenkov, Lavrov, Bogdan Tudor Organizations: Getty, Moldovan, Kremlin, Russia's Defense Ministry, European Union, Eurasia Group, Gazprom, Western, CNBC, Foreign Affairs, Cooperation of, Reuters, Russian, West, RIA Novosti, Google, Russian Federation, Institute for, EU, Afp Locations: Kremlin, Moscow, Russian, Transnistria, Moldova, Russia, Ukraine, Moldovan, Romania, Cooperation of Mali, Reuters Russia, Central Asia, USSR, Sochi, Donetsk, Luhansk, South Ossetia, Abkhazia, Georgia

☆ Ukraine sees first winter using only Ukrainian gas, Naftogaz CEO says
▼ + stars: | 2024-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUkraine sees first winter using only Ukrainian gas, Naftogaz CEO saysOleksiy Chernyshov, CEO of Naftogaz, talks to CNBC about the importance of energy independence during a time of war.

Persons: Oleksiy Chernyshov Organizations: Ukraine, Naftogaz, CNBC

☆ Ukraine heads into winter with a hobbled energy system
▼ + stars: | 2023-10-06 | by ( Olena Harmash | ) www.reuters.com time to read: +6 min

Ukraine declines to share detailed data on the impact of attacks on its energy system, treating it as sensitive information during wartime. Kyiv School of Economics' research centre estimated the direct damage to Ukraine's energy infrastructure at $8.8 billion as of June. Last winter, Ukraine was helped by relatively mild weather, rapid repairs, nuclear power and electricity imports from Europe, but some officials expect tougher conditions this time. Volodymyr Kudrytskyi, head of national grid operator Ukrenergo, said the main grid, one of the most damaged parts of the energy system, was ready to transmit winter volumes of electricity. "The energy system is not as reliable and with a smaller reserve capacity than it was before the targeted strikes," he said.

Persons: Marcus Lippold, It's, it's, Andriy Sadovy, Oleksandr Kharchenko, Dmytro Sakharuk, Sakharuk, DTEK, Denys Shmyhal, Shmyhal, Volodymyr Kudrytskyi, Oleksiy Chernyshov, Serhiy Sukhomlyn, Julia Payne, Mike Collett, White, Gareth Jones Organizations: United Nations, Kyiv School of Economics, Lviv, Energy Industry Research Center, Reuters, Ukraine's, Naftogaz, Thomson Locations: Ukraine, Russian, Brussels, Russia, Moscow, Europe, Zhytomyr, Kyiv

☆ Naftogaz CEO: We should discuss Russian gas transit deal with EU
▼ + stars: | 2023-08-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNaftogaz CEO: We should discuss Russian gas transit deal with EUOleksiy Chernyshov, CEO of Ukraine's largest oil and gas company Naftogaz, discusses the future of the Russian gas transit deal, which is due to expire in 2024.

Persons: Chernyshov Organizations: EU

Pressure gauges, pipes and valves are pictured at an "Dashava" underground gas storage facility near Striy, Ukraine May 28, 2015. The bloc is expected to reach a target of filling its storage facilities to 90% full by Nov. 1. "EP Commodities transports natural gas to Ukraine and uses Ukrainian gas storage facilities," Miroslav Hasko, chairman at EPH's EP Commodities, said. EU countries' gas storage facilities were 87% full on Aug. 7, according to transparency platform GIE. "We consider gas storage in Ukraine as one of the interesting business opportunities that we are currently considering," SPP told Reuters.

Persons: Gleb Garanich, Miroslav Hasko, Naftotgaz, Martin Pich, Bruegel, Jan Lopatka, Marek Strzelelcki, Pavel Polityuk, Barbara Lewis Organizations: REUTERS, European Union, Traders, Gas, Reuters, Commodities, Naftogaz, Thomson Locations: Striy, Ukraine, PRAGUE, WARSAW, Czech, Slovakia, Russia, Hungary, Poland, Kyiv

Companies Llc Naftogaz Digital Technologies FollowJune 23 (Reuters) - Ukrainian state-owned energy company Naftogaz said on Friday it had taken legal action in the United States against Russia to recover $5 billion awarded in the Hague as compensation for damages and lost property in Crimea. It said it had filed a motion in the United States District Court for the District of Columbia, and that it had the right to do so as the U.S. is among countries hosting Russian assets. Naftogaz said in April that an arbitration court in The Hague had ordered Russia to pay $5 billion in compensation for unlawfully expropriating the Ukrainian company's assets in Crimea. "Since Russia has not voluntarily paid the funds to Naftogaz as provided for by the award, we intend to leverage all available mechanisms to recover these funds," Naftogaz CEO Oleksiy Chernyshov said. Chernyshov said the company was working on this in the United States and other target jurisdictions.

Persons: Naftogaz, Oleksiy Chernyshov, Chernyshov, Anna Pruchnicka, Tom Hogue, Timothy Organizations: Technologies, United States, Court, District of Columbia, Timothy Heritage, Thomson Locations: Ukrainian, United States, Russia, Hague, Crimea, U.S, Ukraine, Western, Chornomornaftogaz, The Hague

KYIV, June 23 (Reuters) - Ukrainian state-owned energy company Naftogaz said on Friday it had taken legal action in the United States against Russia to recover $5 billion awarded in the Hague as compensation for damages and lost property in Crimea. It said it had filed a motion in the United States District Court for the District of Columbia, and that it had the right to do so as the U.S. is among countries hosting Russian assets. Naftogaz said in April that an arbitration court in The Hague had ordered Russia to pay $5 billion in compensation for unlawfully expropriating the Ukrainian company's assets in Crimea. "Since Russia has not voluntarily paid the funds to Naftogaz as provided for by the award, we intend to leverage all available mechanisms to recover these funds," Naftogaz CEO Oleksiy Chernyshov said. Chernyshov said the company was working on this in the United States and other target jurisdictions.

Persons: Naftogaz, Oleksiy Chernyshov, Chernyshov, Dmitry Peskov, Anna Pruchnicka, Tom Hogue, Timothy Organizations: United States, Court, District of Columbia, Timothy Heritage, Thomson Locations: Ukrainian, United States, Russia, Hague, Crimea, U.S, Ukraine, Western, Chornomornaftogaz, The Hague

☆ Russia's war on Ukraine latest: Moscow expels German diplomats
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +2 min

April 22 (Reuters) - Russia said it was expelling a number of German diplomats in a tit-for-tat move. Germany did not immediately confirm any expulsions of its own, but said the arrival of a Russian government plane in Berlin was connected to the issue. Russia's RIA Novosti news agency said Germany had decided to expel more than 20 Russians. TANKS, BATTLE* Russia's Defence Ministry said Russian forces had captured three more blocks in the western part of the Ukrainian city of Bakhmut. * The U.S. said on Friday it would soon start training Ukrainian troops to use its Abrams tanks as Germany announced a deal to establish a hub in Poland to repair German Leopard tanks deployed in Ukraine.

☆ Naftogaz held talks with US oil companies about energy projects in Ukraine -FT
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +2 min

Oleksiy Chernyshov, chief executive of Naftogaz, told the FT that he held meetings in Washington with Halliburton and ExxonMobil in recent days. The talks with Exxon and Chevron are at an early stage and would take longer to yield results, FT said. The talks are a part of Ukraine's push to increase natural gas production. Ukraine has substantial reserves of natural gas, but consumption far outstrips production and the country is forced to import gas. Last month, Chernyshov said he plans to increase its natural gas production by more than 5% in 2023 to 19 billion cubic metres despite the Russian invasion.

☆ Russia Ordered to Pay Ukraine’s Naftogaz $5 Billion for Assets Seized in Crimea
▼ + stars: | 2023-04-13 | by ( Jenny Strasburg | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/russia-ordered-to-pay-ukraines-naftogaz-5-billion-for-assets-seized-in-crimea-5629032

☆ Ukraine's Naftogaz says Russia told to pay $5 billion for seizing Crimea assets
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of Ukraine's state energy company Naftogaz is seen outside the company's headquarters in central Kyiv, Ukraine October 18, 2021. REUTERS/Gleb Garanich/File PhotoKYIV, April 13 (Reuters) - Ukraine's state-owned gas company Naftogaz said on Thursday that Moscow had been ordered by an arbitration court in The Hague to pay $5 billion in compensation for unlawfully expropriating its assets in Russian-annexed Crimea in 2014. "Despite Russia's attempts to obstruct justice, the Arbitration Tribunal ordered Russia to compensate Naftogaz for losses of $5 billion," Naftogaz said. The company, whose assets in Crimea included Chornomornaftogaz which produced significant amounts of gas from the Black Sea, gave no further detail of which overseas Russian assets it could target. Naftogaz has been in talks with investors on a debt restructuring to bring the company out of a months-long default.

[1/3] A view of the destroyed village of Moshchun amid Russia's invasion, Kyiv region, Ukraine May 19, 2022. But before they can even begin to be answered, Kyiv is seeking billions just to ride out this year. After a 30% contraction in its economy in 2022, Ukraine will need $38 billion by the end of year to cover its budget deficit alone. "But to me, one of the surprises has been how the private sector has been so resilient." "Supporting Ukraine now is critical to avoid a devastating humanitarian crisis and to strengthen Ukraine for what it's doing for the rest of the world."

☆ Naftogaz CEO says the Ukrainian state energy giant will be out of default soon
▼ + stars: | 2023-01-18 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

The CEO of Ukrainian state energy giant Naftogaz said the company is working toward resolving its debt default problems quickly. Yuriy Vitrenko told CNBC's Hadley Gamble at the World Economic Forum in Davos on Tuesday that he is in the final stages of getting the company back on track. "By the end of this month, we're planning to find the consent solicitation with our bondholders to restructure," Vitrenko said. Naftogaz was the first Ukrainian government-owned entity to default since Russia invaded the country in February. Last year, the company said the deadline for payments to holders of Naftogaz Eurobonds expired on July 26 without payment taking place.

☆ Ukraine’s Naftogaz is in the process of finalizing the restructuring of its debt
▼ + stars: | 2023-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUkraine’s Naftogaz is in the process of finalizing the restructuring of its debtOleksiy Chernyshov, Naftogaz CEO, speaks about the process of finalizing the restructuring of the company's debt. It was the first government entity to default in 2022.

☆ Ukraine's Naftogaz says Russian attacks damaged 350 gas facilities
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

Companies NAK Naftohaz Ukrainy PAT FollowLONDON, Dec 7 (Reuters) - Recent Russian attacks on Ukraine have damaged 350 natural gas facilities in the country though production should be largely restored by year-end, Oleksiy Chernyshov, chief executive of Ukrainian state energy company Naftogaz said on Wednesday. Speaking at an event of the European Bank for Reconstruction and Development, Chernyshov said the loss of gas production capacity amounted to a value of around $700 million. "We all understand that the energy is another weapon...and we've been seriously attacked by Russian missiles in some part of our infrastructure and gas production infrastructure has been hit." Chernyshov, who was appointed in early November, said getting the firm out of default was another of his priorities. Naftogaz tipped into a messy default in July, becoming the first Ukrainian government entity to do so since the start of the Russian invasion on Feb. 24.

☆ Ukraine's Naftogaz asks USAID for help with gas for heating
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

Companies NAK Naftohaz Ukrainy PAT FollowNov 29 (Reuters) - Ukrainian energy company Naftogaz has asked the United States Agency for International Development (USAID) to help with additional natural gas volumes for the heating season, Oleksiy Chernyshov, the company's chief executive said on Monday. read more"The key is the additional volume of gas needed to get through this heating season," Chernyshov wrote on his Facebook page after a meeting with Elizabeth McKee, the assistant administrator of the USAID for Europe and Eurasia. "We are talking, in particular, about methanol, gas compressors, diesel generators and equipment for gas production," Chernyshov said. In October, USAID said it would invest $55 million in Ukraine's heating infrastructure to aid the country's preparations for winter, according to a statement on the Agency's website. Reporting in Melbourne by Lidia Kelly; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.

Ukrainian state energy firm Naftogaz said in a Tuesday tweet that “Gazprom accused Ukraine of stealing gas. Russia is also sending gas to Europe via the TurkStream pipeline that runs through Turkey to Bulgaria. If Russia halted exports through Ukraine, Europe would lose about 4 billion cubic meters of gas — or just 1% of its estimated gas demand for 2022 — between December and March, Filippenko said. The continent’s gas storage facilities are nearly 95% full, according to data from Gas Infrastructure Europe. In this context, a total shut off of Moscow’s pipeline gas through Ukraine would cause “minimal” damage, Filippenko said.

☆ Ukraine gives green light for Lazard to advise Naftogaz
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

KYIV, Nov 10 (Reuters) - Ukraine's government has given the green light for financial advisory firm Lazard to advise state energy company Naftogaz on its debt restructuring plan. A resolution published on the government portal late on Wednesday said the cabinet had decided to "approve the conclusion of an agreement between the joint-stock company ... Naftogaz of Ukraine and the company Lazard Frères SAS". Naftogaz is stuck in default after bondholders of two of its three main international bonds refused to sign up to a debt payment deferral plan offered this year. The final terms to be offered to bondholders are to be sent to the government for approval. The government resolution gave Naftogaz two weeks to do so.

☆ Ukrainian gas company Naftogaz first-half loss widens to $1.6 bln
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +2 min

Nov 3 (Reuters) - Naftogaz, Ukraine's state-owned gas company, on Thursday reported a bigger loss in the first half of the year due to the impact of the war in the country following Russia's invasion in February. Naftogaz's net loss widened to 57.16 billion hryvnias ($1.57 billion) from 1.65 billion hryvnias a year before, with most of the losses recorded in the first quarter, it said. The destruction of its assets due to military shelling by Russia also affected its first-quarter loss, it said. Naftogaz, which has defaulted on some of its bonds, in August secured the backing of bondholders for a partial restructuring. The company said on Tuesday the government accepted Vitrenko's resignation effective Nov. 3, without giving further details.

☆ Head of state-run Ukrainian energy company Naftogaz quits
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

KYIV, Nov 1 (Reuters) - The Ukrainian government accepted the resignation of Yuriy Vitrenko as chief executive of state energy company Naftogaz on Tuesday. In a statement on the Telegram messaging app, Naftogaz said Vitrenko would remain in the role until Nov. 3, but gave no further details. Asked by Reuters about the reason behind his resignation, Vitrenko declined to comment. Vitrenko's departure follows a series of Russian missile strikes on Ukrainian energy facilities in recent weeks as the war in Ukraine drags on. Naftogaz is also locked in a legal dispute with Russia's state energy company Gazprom over the transit of Russian gas.

☆ Weather forecasters predict relatively mild winter in Ukraine
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +1 min

KYIV, Oct 20 (Reuters) - Weather forecasters in Ukraine on Thursday predicted a milder winter than usual, offering a glimmer of hope to Ukrainians facing power outages following Russian attacks on energy facilities. Winters can be long and hard in Ukraine, but the state-run weather forecasting centre suggested temperatures may be slightly higher than average this winter. "Mostly probable short-term significant cooling lasting 1-5 days, when the minimum temperature at night will be minus 15-20 Celsius degrees," it said. The chief executive of Ukrainian energy firm Naftogaz said that Ukraine had a significant volume of gas in storage but would need additional imports because of problems in the electricity sector. Register now for FREE unlimited access to Reuters.com RegisterReporting by Pavel Polityuk, Editing by Timothy HeritageOur Standards: The Thomson Reuters Trust Principles.

☆ London hedge fund VR Capital blocks Naftogaz restructuring - FT
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: 1 min

Oct 19 (Reuters) - London-based hedge fund VR Capital is resisting efforts by Ukraine's state-owned gas company Naftogaz to restructure its debt, the Financial times reported on Wednesday. VR Capital is one of the lead investors involved in a stand-off between Naftogaz and its bondholders, FT reported, citing sources. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ann Maria Shibu in Bengaluru; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Any hope of the Nord Stream network resuming shipments to Germany was dashed last month by suspected sabotage. Even then, it is unlikely to make up for the missing Russian gas. A risk is that as energy supplies dwindle, energy demand will not shrink enough. European industrial gas demand has fallen as high gas prices have led factories in energy-intensive sectors such as aluminium, steel and ammonia, have shut production. Europe can't afford any surprises this winter without Russian gasA more comfortable energy supply situation could be many winters away.

Russia intends to call a United Nations Security Council meeting over damage to the gas pipelines, Foreign Ministry spokeswoman Maria Zakharova said in a statement on Telegram. In the Baltic Sea, gas was still bubbling from the Nord Stream 1 pipeline, the Swedish Coast Guard said in an email. "There are good teams in place to handle pipeline accidents, there are emergency pipe inventories and experts for onshore and offshore," Jens Schumann, managing director of gas pipeline grid company Gasunie Deutschland, said. European gas prices rose following news of the leaks. The new Nord Stream 2 pipeline had yet to enter commercial operations.

"Any deliberate disruption of European energy infrastructure is utterly unacceptable and will be met with a robust and united response," Borrell said. A statement issued by Russia's embassy in Denmark said that any sabotage on Nord Stream's pipelines was an attack on both Russia's and Europe's energy security. Map of Nord Stream pipelines and locations of reported leaksGAS FLOWSOperator Nord Stream has called the damage "unprecedented", while Gazprom (GAZP.MM), the Russian-controlled company with a monopoly on its gas exports by pipeline, declined to comment. Russia reduced gas supplies to Europe via Nord Stream 1 before suspending flows altogether in August, blaming Western sanctions for causing technical difficulties. The new Nord Stream 2 pipeline had yet to enter commercial operations.

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