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☆ Russia's weaker hand undermines case for Power of Siberia 2 gas link to China
▼ + stars: | 2023-10-30 | by ( Vladimir Soldatkin | ) www.reuters.com time to read: +6 min

Russia currently exports gas to China through the Power of Siberia 1 pipeline, which began operating in 2019 and runs through eastern Siberia into China's northeastern Heilongjiang province. Moscow has not said how much the 2,600 km (1,616 miles) Power of Siberia-2 would cost or how it would be financed. Russia aims to increase supplies via Power of Siberia 1 to 38 bcm annually by 2025. If the plans for Power of Siberia 2 and another link from Russia's far eastern island of Sakhalin come to fruition, Russia's pipeline gas exports to China would rise to almost 100 bcm per year by 2030. "This fact will require CNPC to build on its own all the necessary gas transportation infrastructure in China," Kondratov wrote.

Persons: Maxim, Xi Jinping, Vladimir Putin, Dmitry Kondratov, Kondratov, Sergey Vakulenko, Vakulenko, Viktoria Abramchenko, Andrew Hayley, Chen Aizhu, Oksana Kobzeva, Mark Trevelyan, Susan Fenton Organizations: REUTERS, Russia, East, Power, Gazprom, Economics, Russian Academy of Science, Carnegie Endowment, International, Soyuz, Thomson Locations: Siberia, Svobodny, Amur, Russia, East Power, Turkmenistan, MOSCOW, China, Europe, Yamal, Mongolia, Baltic, Moscow, Ukraine, Beijing, China's, Heilongjiang, Russian, Power, Russia's, Sakhalin, That's, Nord, Turkey, Japan, United States, Qatar, Australia, Singapore

Deputy Prime Minister of Russia Alexander Novak arrives for an OPEC meeting in Vienna, Austria, June 4, 2023. Russia, the world's second largest oil exporter, has been cutting output and exports in tandem with Saudi Arabia on top of existing OPEC+ supply reductions. Novak, Russian President Vladimir Putin's point man on oil, first mentioned a new deal on oil export cuts last week without disclosing parameters. Russia had said it would voluntarily cut oil exports by 500,000 barrels per day, or around 5% of its output, in August and by 300,000 bpd in September. Russia is also reducing its oil production by 500,000 bpd until the end of 2024.

Persons: Alexander Novak, Leonhard Foeger, Novak, Vladimir Putin's, Vladimir Soldatkin, Oksana Kobzeva, Mark Trevelyan, Kevin Liffey Organizations: REUTERS, Rights, Brent, OPEC, Thomson Locations: Vienna, Austria, Russia, Saudi Arabia

☆ Russia's Gazprom says it swings to Q2 net loss as exports to Europe slump
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

Companies Gazprom PAO FollowMOSCOW, Aug 29 (Reuters) - Russia's Gazprom (GAZP.MM) said on Tuesday it generated a net loss of 18.6 billion roubles ($197 million) in the second quarter of 2023 after a net profit of 1.03 trillion roubles a year earlier following the collapse of gas exports to Europe. Gazprom has suspended the disclosure of its exports data, but according to Reuters calculations, supplies to Europe, once its key source of earnings, were about 15 billion cubic metres (bcm) in January-July compared with 62 bcm for the whole 2022. The Kremlin-controlled company also said its net income for the first six months of the year fell to 296 billion roubles from 2.5 trillion roubles in January-June 2022, while its base for dividend payment reached 618 billion roubles for the period. The company usually pays dividend of 50% of its adjusted net income. ($1 = 94.4250 roubles)Reporting by Vladimir Soldatkin and Oksana Kobzeva Editing by Chris Reese and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Vladimir Soldatkin, Oksana Kobzeva, Chris Reese, Tomasz Janowski Organizations: Gazprom PAO, Gazprom, U.S, Thomson Locations: MOSCOW, Europe, China

Russia's gas, in contrast to its oil, is not subject to Western sanctions, although Brussels is considering extending its embargo on Russian fuel. Gazprom's gas exports, mainly to Europe, almost halved last year because of the political crisis over Ukraine and after undersea Nord Stream pipelines were damaged by unexplained blasts last September. Timchenko had long challenged Gazprom's monopoly on Russian gas exports, saying in 2012 that Europeans wanted to have an alternative to Gazprom. "I believe that Gazprom Export's marketing campaign led to its European share decrease ... Liquefied natural gas has already come to the market. In essence, a new, cheaper gas market is emerging; one has to see such things," Timchenko told the Forbes magazine in 2012.

Persons: Maxim Shemetov, Russia's, Ronald Smith of, Novatek, Vladimir Putin, Alexei Miller, Putin, Miller, Gennady Timchenko, Timchenko, Oksana Kobzeva, Vladimir Soldatkin, Barbara Lewis Organizations: Gazprom, REUTERS, Stream, EU, Kremlin, European Union, Novatek, BCS, Forbes, Thomson Locations: Russia, Europe, MOSCOW, Ukraine, Brussels, Siberia, LNG, Ronald Smith of Moscow, Germany, Italy, Soviet, St Petersburg, Moscow, Russian

☆ Weak gas prices worsen outlook for Gazprom's revenues from sales to Europe
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +1 min

Gazprom's gas sales to Europe, once its primary source of foreign currency revenues, have plummeted due to the crisis in relations between Moscow and the West. Gazprom has not provided forecasts for gas exports this year and has not replied to a request for comment. Ronald Smith, a seasoned analyst at Moscow-based BCS brokerage, expects Russian gas prices in Europe to average $445 per 1,000 cubic metres this year. He forecasts Russian gas exports to Europe and Turkey will reach 50 bcm this year. If Russia keeps its gas exports to Turkey steady, it might reach 22 bcm in 2023, then sales to Europe would total 28 bcm.

Persons: Ronald Smith, That's, Oksana Kobzeva, Vladimir Soldatkin, Christina Fincher Organizations: Gazprom PAO, Gazprom, Economy Ministry, Thomson Locations: MOSCOW, Europe, Ukraine, Moscow, Turkey, Russia

☆ Analysis: Gazprom's export revenue may fall by 50% in 2023
▼ + stars: | 2023-02-14 | by ( Oksana Kobzeva | ) www.reuters.com time to read: +5 min

If the trend continues, Gazprom's export revenues for the whole year could be halved compared to 2022 when its export volumes also declined by nearly half. LOWER REVENUESIn 2022, Gazprom's export volumes fell by 46%, according to the company. Gazprom has not provided forecasts for gas exports for this year. Gazprom's exports outside ex-Soviet Union fell by more than 45% to 100.9 bcm in 2022 from 185.1 bcm in 2021. The Economy Ministry forecasts Gazprom's export price for 2023 at $700 per 1,000 cubic metres.

☆ Russian piped gas exports to Europe falls 30% in January to new lows - data
▼ + stars: | 2023-01-31 | by ( Oksana Kobzeva | ) www.reuters.com time to read: +2 min

According to calculations, based on daily data of Russian gas exports via Ukraine and the TurkStream pipeline, Gazprom's gas exports to Europe fell in January to some 1.8 billion cubic metres (bcm) from 2.5 bcm in December. Gazprom halted gas supplies last year via the Yamal-Europe pipeline which traverses Belarus, Poland and terminates in Germany, as well as through the undersea Nord Stream 1 pipeline, which was blown up in September. According to European gas transmission group Entsog and Gazprom's daily reports on its transit via Ukraine, Gazprom's average daily gas supplies to Europe have declined to 58.1 million cubic metres (mcm) this month from 81.9 mcm in December. Gazprom has not disclosed its own statistics on exports and output since the start of the year. The company had said its gas exports outside ex-Soviet Union fell last year by 45% to 100.9 bcm.

☆ Russia boosts LNG exports to Europe by 20% in 2022 - Refinitiv
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Jan 31 (Reuters) - Russia supplied Europe with some 17 million tonnes of liquefied natural gas (LNG) last year, up about 20% from 2021 volumes, Refinitiv Eikon data showed on Tuesday, partially offsetting a steep decline in Russian pipeline gas exports. Europe has been boosting imports of seaborne LNG - gas transported in liquid form at minus 160 degrees Celsius (minus 256 Fahrenheit) - amid a cut in pipeline gas supplies from Russia due to a deep political crisis over Ukraine. At the same time, Russia increased its total LNG exports in 2022 by 8.6% to around 33 million tonnes (around 45 billion cubic metres), of which more than half was shipped to Europe, Refinitiv Eikon data showed. Russia's largest LNG producer Novatek (NVTK.MM) provided the bulk of the supplies, having shipped 20.8 million tonnes from the Yamal LNG project in the Arctic and 700,000 tonnes from Kriogaz-Vysotsk on the Baltic Sea, according to Refinitiv Eikon. The Gazprom-led Sakhalin-2 project in the Pacific part of Russia increased its LNG supplies by 11% to 11.2 million tonnes in 2022.

☆ Three dead as blast shuts part of Russia-Ukraine gas export pipeline
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +2 min

MOSCOW, Dec 20 (Reuters) - A blast ripped through a gas pipeline in central Russia, killing three people and disrupting some of the limited amount of Russian gas that is still reaching Europe, local officials said on Tuesday. He said it was unclear when gas supplies via the pipeline could resume, and authorities were trying to work that out. The pipeline, built in the 1980s, enters Ukraine via the Sudzha metering point, currently the main route for Russian gas to reach Europe. Europe's gas prices have surged this year after Russia cut exports through its main gas pipeline route into Germany, leaving only pipelines via Ukraine to ship Russian gas to European consumers. The head office of the state-owned gas producer Gazprom and its local branch did not immediately respond to requests for comment.

After explosions - whose cause is under investigation - damaged the Nord Stream Russian gas pipeline system to Europe under the Baltic Sea, Putin in October proposed setting up a gas hub in Turkey, building on a southern route for exports. "Does Europe need the project, given the determination of the EU countries to forego Russian gas in the nearest future?" A source in Russia's pipeline gas exporting monopoly Gazprom (GAZP.MM) said be believed the hub would facilitate sales. "That will not be Russian gas, but gas from the hub," said the source, who did not want to be named due to the sensitivity of the matter. Neither Gazprom, nor the Kremlin provided a cost estimate for the Turkish hub idea.

☆ Russia's Sberbank sues Glencore for $116 mln over oil supplies
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Russia's largest lender Sberbank in Moscow, Russia, December 24, 2020. The database showed Sberbank was seeking to recover debt and penalties from Glencore Energy UK Ltd over two agreements, worth roughly 58 million euros each. One related to oil blend supplies to the border of Ukraine and Hungary in March, and the other to supplies to the border of Ukraine and Slovakia in the same month. Russia sent its troops into Ukraine on Feb. 24 for what it calls a "special military operation". ($1 = 1.0073 euros)Reporting by Oksana Kobzeva Writing by Vladimir Soldatkin Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Gazprom starts testing gas supplies from Kovykta field to China's pipeline
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +1 min

Gazprom started delivering gas from the Chanayda field to China at the end of 2019. Both Chanayda and Kovykta feed the Power of Siberia pipeline which has a nameplate capacity of 38 billion cubic metres (bcm) per year. Register now for FREE unlimited access to Reuters.com RegisterGazprom said Kovykta and new gas transportation facilities are expected to come onstream in December. Gazprom exported 4.1 bcm of gas to China in 2020, rising to around 11 bcm in 2021 and expected to reach 22 bcm in 2023. Earlier this month Russian Deputy Prime Minister Alexander Novak said the Power of Siberia will reach full capacity in 2027, two years later than planned.

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