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☆ Russia's Gazprom threatens to cut off natural-gas supplies to Europe if price caps are imposed
▼ + stars: | 2022-10-17 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The G7 and the EU are in discussions to impose price caps on Russian oil and natural gas. Russia's Gazprom threatened to stop gas supplies to Europe if the price caps are imposed, per Reuters. President Putin last month also threatened to cut off energy supplies if these price caps were imposed. He also threatened to cut off all energy supplies if price caps were imposed. Russian gas deliveries to Europe have fallen by about half this year so far, Gazprom said on September 8.

☆ Gazprom CEO says gas price cap would lead to supply halt
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +1 min

Gazprom Chief Executive Alexei Miller attends a meeting with Russian President Vladimir Putin at the Kremlin in Moscow, Russia March 12, 2019. The conflict in Ukraine has prompted European Union customers to reduce their purchases of Russian energy while the G7 and the EU are trying to impose a price cap on Russian oil and gas. "Such a one-sided decision is of course a violation of existing contracts, which would lead to a termination of supplies," Miller said in comments broadcast on state television. President Vladimir Putin last month threatened to cut off energy supplies if price caps were imposed, warning the West it would be "frozen" like a wolf's tail in a famous Russian fairy tale. Register now for FREE unlimited access to Reuters.com RegisterReporting by Reuters, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Turkey backs Putin gas plan as Nord Stream faces long outage
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +4 min

Pipes at the landfall facilities of the 'Nord Stream 1' gas pipeline are pictured in Lubmin, Germany, March 8, 2022. Russian President Vladimir Putin this week proposed Turkey as a base for gas supplies after the Nord Stream pipelines under the Baltic Sea were damaged last month by blasts. Both Nord Stream 1 and Nord Stream 2, connecting Russia and Germany, were damaged last month, spewing out a large amount of gas. With Nord Stream out of service, Miller said that Russia will start "concrete" talks with Turkey next week on proposals to route more gas their way. SECURITY FEARSThe Nord Stream blasts have heightened concerns over energy security in Europe as the conflict rages in Ukraine.

☆ EXCLUSIVE Schlumberger faces employee backlash in Russia over cooperation on draft
▼ + stars: | 2022-10-14 | by ( Liz Hampton | ) www.reuters.com time to read: +5 min

Human rights groups are watching how the company responds to the concerns. Schlumberger suspended new investments and technology deployment in Russia, but unlike some of its peers and customers, decided to remain. Schlumberger leaves decision-making on Russia employment policies to local managers, the U.S.-based spokesperson said. The Business & Human Rights Resource Centre requested information from Schlumberger and other non-Russian companies with operations in the country on their handling of the mobilization. Schlumberger rivals Baker Hughes (BKR.O) and Halliburton (HAL.N) are selling or have sold their oilfield services units in Russia.

☆ Russia needs permission for its ships to probe Nord Stream ruptures - Novak
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +2 min

MOSCOW, Oct 14 (Reuters) - Russia needs permission for its vessels to conduct investigations into explosions that damaged Nord Stream pipelines in the Baltic Sea, Deputy Prime Minister Alexander Novak said on Friday. He did not specify who should grant the permission but Nord Stream AG, the operator of the older Nord Stream 1 pipeline, said last week that the owner of a survey vessel it chartered did not have the greenlight from the Norwegian foreign ministry to depart and start assessing ruptures to the pipelines. The Danish foreign ministry said on Thursday "the Russian wish to participate in the investigation of the Nord Stream leaks has been brought up through diplomatic channels in Moscow and Copenhagen". The cause of the damage to the Nord Stream pipelines remains unclear, but European Union countries have said they suspect sabotage, while Russia has called the incidents an "act of international terrorism" and blamed the West. Register now for FREE unlimited access to Reuters.com RegisterReporting by Olesya Astakhova; writing by Vladimir Soldatkin Editing by Gareth Jones and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

☆ Former German Chancellor Merkel defends her government's move to buy massive amounts of Russian gas, saying she has no regrets as it was right for the time
▼ + stars: | 2022-10-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The former German Chancellor said she had no regrets about her government's energy policy, per Reuters. "You always act in the time in which you find yourself," Merkel told reporters in Lisbon, according to Reuters. Merkel was referring to liquefied natural gas, a supercooled version of natural gas that can be transported via ships. She recently came under heavy scrutiny and criticism from political rivals, the press, and her peers for her Russia policy amid Moscow's invasion of Ukraine. Germany's Russian gas policy spanned decades, starting during the Cold War in the 1960s with the Pipelinepolitik policy that connected both sides with a pipeline.

☆ Gazprom CEO says big part of Nord Stream may need to be replaced
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +2 min

The logo of the Nord Stream 2 gas pipeline project is seen on a pipe at the Chelyabinsk pipe rolling plant in Chelyabinsk, Russia, February 26, 2020. REUTERS/Maxim Shemetov/File PhotoMOSCOW, Oct 14 (Reuters) - Gazprom CEO (GAZP.MM) Alexei Miller told Russia's State TV Channel One late on Thursday that a big section of the damaged Nord Stream pipelines might need to be replaced, while Russia plans boosting gas exports via the Black Sea and Turkey. Both Nord Stream 1 and Nord Stream 2 gas pipelines, which were built to transport gas from Russia to Germany via the bed of the Baltic Sea, were damaged last month, spewing out a large amount of gas. On Wednesday, Miller, head of the Russian state-controlled natural gas monopoly, said repairs to the damaged Nord Stream pipelines would take more than one year. TURKEY HUBRussian President Vladimir Putin touted Turkey earlier this week as the best route for redirecting gas supplies to the European Union after Nord Stream pipeline leaks.

☆ Europe has enough energy to survive the winter. Next year might be different
▼ + stars: | 2022-10-13 | by ( Anna Cooban | ) edition.cnn.com time to read: +8 min

Cornelius Poppe/NTB/AFP/Getty ImagesBut success has come at a heavy cost to the economy: the scramble for alternative sources has sent energy prices soaring. Alexei Miller, CEO of Russian state energy giant Gazprom, said on Wednesday that there was “no guarantee” that Europe would survive the winter with its current reserves. “Adopting policies that prevent the pass-through of high energy prices to consumers is an expensive gamble that is doomed to fail if wholesale energy prices will stay high in the future,” he added. Carlos Torres Diaz, head of power analysis at Rystad Energy, told CNN business that Europe’s energy transition “has been put on hold” as it prioritizes energy security. “These sources of energy also help reduce the dependency on energy imports,” Torres Diaz added.

☆ Putin offered to redirect natural-gas supplies to Europe via Turkey and make the country a gas hub. Turkey said this is the first time it's heard of the plan.
▼ + stars: | 2022-10-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Putin said Russia could send natural gas to Europe via Turkey, making it a "gas hub," per Reuters. That's because the key Nord Stream natural-gas pipelines linking Russia to Europe are damaged. Putin's statement comes two weeks after leaks were first reported on the key Nord Stream pipelines that transport natural gas from Russia to Germany. The German government flat out rejected the proposal to use Nord Stream 2 on Wednesday. Last month, he said the EU can simply turn on the new Nord Stream 2 pipeline if it wants more natural gas from Russia.

☆ Turkish energy minister: Putin proposal for gas hub in Turkey should be discussed
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +2 min

Speaking at the Russia Energy Week conference in Moscow, both Putin and Gazprom (GAZP.MM) head Alexei Miller suggested creating a gas hub in Turkey. "It is the first time we heard of the issue of supplying Europe through alternate routes, mentioned by President Putin in his speech. "These kinds of international projects need feasibility assessments... commercial aspects need to be discussed. Ankara's relations with Russia are complex, with the two countries cooperating closely on energy supplies while being at odds over Syria, Libya and Azerbaijan. Register now for FREE unlimited access to Reuters.com RegisterReporting by Reuters; editing by Guy Faulconbridge and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

☆ Rouble hits multi-month low on Ukraine escalation fears
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +2 min

By 1201 GMT the rouble was down 1.2% against the dollar at 63.44 after touching 63.9975 for its weakest since July 7. The rouble has been supported by capital controls and a collapse in imports since Western sanctions were imposed over Russia's actions in Ukraine and companies left the market in droves. Promsvyazbank analyst Yevgeny Loktyukhov pointed to escalation in Ukraine and a pullback in oil prices as a reason for the rouble's slide. Brent crude oil , a global benchmark for Russia's main export, was down 1.7% at $94.58 a barrel at 1200 GMT. Russian stock indexes, which were dragged sharply lower by Gazprom (GAZP.MM) in the previous session, were regaining some ground.

☆ Rouble hits multi-month low past 64 vs dollar on Ukraine escalation fears
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +2 min

By 1409 GMT the rouble was down 2.1% against the dollar at 64.03 , its weakest since July 7. The rouble has been supported by capital controls and a collapse in imports since Western sanctions were imposed over Russia's actions in Ukraine and companies left the market in droves. Already blighted by Western sanctions, Russia's economy now faces a more self-inflicted blow, with President Vladimir Putin's military mobilisation drive threatening to undermine productivity, demand and recovery. Promsvyazbank analyst Yevgeny Loktyukhov pointed to escalation in Ukraine and a pullback in oil prices as a reason for the rouble's slide. Brent crude oil , a global benchmark for Russia's main export, was down 2.3% at $94.0 a barrel at 1410 GMT.

☆ Gazprom: NATO mine destroyer was found at Nord Stream 1 in 2015
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +1 min

The logo of Gazprom is displayed on a screen during the Saint Petersburg international gas forum in Saint Petersburg, Russia September 15, 2022. REUTERS/Anton Vaganov/File PhotoMOSCOW, Oct 10 (Reuters) - A spokesperson for Russian energy giant Gazprom (GAZP.MM) said on Monday that a mine destroyer discovered at the Nord Stream 1 offshore gas pipeline in 2015 belonged to NATO. Nord Stream reported on that date in 2015 that a "munitions object" had been cleared by the Swedish armed forces, without giving more detail on the object. Gazprom owns 51% in Swiss-based Nord Stream AG, operator of Nord Stream 1. An international investigation is underway into a rupture, discovered late last month, in the Russian-built Nord Stream 1 and Nord Stream 2 pipelines on the bed of the Baltic Sea.

☆ Sweden won't share Nord Stream investigation findings with Russia - PM
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +2 min

STOCKHOLM, Oct 10 (Reuters) - Sweden won't share findings of the investigation into the explosions of the Nord Stream gas pipelines with Russian authorities or Gazprom (GAZP.MM), Swedish Prime Minister Magdalena Andersson said on Monday. A Swedish crime scene investigation of the Nord Stream 1 and 2 gas pipelines from Russia to Europe has found evidence of detonations and prosecutors suspect sabotage. Last week Russian Prime Minister Mikhail Mishustin sent a letter to the Swedish government demanding that Russian authorities and Gazprom would be allowed to be involved in the investigation, which Sweden denied. Register now for FREE unlimited access to Reuters.com RegisterOn Monday Andersson said Sweden won't even share the findings of the explosions that took place in the Swedish economic zone, with Russian authorities. However, Andersson said Sweden had no power to stop Russian vessels from visiting the sites of the explosions now that the crime scene investigation was concluded.

☆ Hungary, Serbia agree to build pipeline to ship Russian oil to Serbia
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +2 min

The receiver station of the Druzhba oil pipeline between Hungary and Russia is seen at the Hungarian MOL Group's Danube Refinery in Szazhalombatta, Hungary, May 18, 2022. REUTERS/Bernadett Szabo/File PhotoBUDAPEST, Oct 10 (Reuters) - Hungary and Serbia have agreed to build a pipeline to supply Serbia with Russian Urals crude via the Druzhba oil pipeline as Belgrade's shipments via Croatia fall under EU sanctions, the Hungarian government said on Monday. Serbia gets its oil via the JANAF oil pipeline from Croatia. "The new oil pipeline would enable Serbia to be supplied with cheaper Urals crude oil, connecting to the Friendship oil pipeline," Hungarian government spokesman Zoltan Kovacs tweeted. Hungary has gas reserves covering about five to six months' worth of consumption, Prime Minister Viktor Orban said.

☆ Germany's EnBW says Sefe settlement cuts negative impact on profit
▼ + stars: | 2022-10-10 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

A general view of pipelines on the gas storage facility at the gas trading company VNG AG in Bad Lauchstaedt, Germany July 28, 2022. The negative earnings impact for 2022 will likely be below 1.3 billion euros ($1.3 billion), an upper limit mentioned in its second-quarter report, but above 545 million euros, EnBW said in a statement on Monday. EnBW's VNG (VNG.UL) relies on Sefe for 65 terawatt hours (TWh) of gas supplies, accounting for much of its gas procurement needs. As a result of this, Germany's largest gas importers - Uniper (UN01.DE), Sefe and VNG - have either been bailed out or requested state aid to stay afloat. More specific effects on EnBW's finances and cash flows depend on further talks with the German government, the utility added.

☆ Hundreds of pounds of TNT were used to damage the Nord Stream pipelines, Sweden and Denmark tell the UN
▼ + stars: | 2022-10-01 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Leaks in the Nord Stream pipelines were caused by hundreds of pounds of explosives, the UN heard. Denmark and Sweden told the Security Council that TNT was used deliberately to damage the pipelines. More countries have said sabotage was to blame, but Russia suggested the US was responsible. Methane appears to be leaking from the pipelines, with Sweden and Denmark now suggesting they were caused by a massive explosion. But in a statement released on Telegram on Thursday, Moscow suggested that Washington had the most to gain from Nord Stream shutting down.

☆ Nord Stream gas 'sabotage': who's being blamed and why?
▼ + stars: | 2022-09-30 | by ( Joanna Plucinska | ) www.reuters.com time to read: +6 min

Russia's foreign ministry said on Thursday it was "unthinkable" that an investigation into ruptures on the Nord Stream 1 and 2 gas pipelines would proceed without Moscow's participation. President Vladimir Putin said on Friday the United States and its allies blew up Nord Stream. U.S. President Joe Biden said on Friday damage to Nord Stream was a deliberate act of sabotage. Map of Nord Stream pipelines and locations of reported leaksWHY SABOTAGE A PIPELINE? "They already succeeded in stopping Nord Stream 2.

☆ Unidentified drones were spotted near offshore installations days before Nord Stream attack, according to letter from Norwegian energy security agency
▼ + stars: | 2022-09-30 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

There's been an uptick in unidentified drones near Norwegian offshore energy facilities in September. Leaks in the Nord Stream pipelines this week have largely been blamed on sabotage. Nord Stream 1 and 2 each consist of two pipelines carrying natural gas from Russia to Europe. Germany canceled plans to put Nord Stream 2 into operation after Russia moved forces into Ukraine in February. And in early September, Russian state-controlled gas giant Gazprom turned off Nord Stream 1's gas supply to Europe.

☆ Factbox: Mixed fortunes for producers as petrodollars flow
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +6 min

Data on Saudi Arabia, Russia, Nigeria and Iraq shows how not all the big producers are cashing in on the oil price bonanza. In February 2022, oil and gas sales were $1.26 billion but NNPC remitted $0 in March. RUSSIARussia's oil and gas budget revenues in January-August increased by 43% compared with a year ago, providing authorities with room to step up public spending aimed at limiting the impact of sweeping Western sanctions. In January-August, Russia's oil and gas revenues totalled 7.3 trillion roubles ($121,7 billion), or 82% of such revenues it envisaged for 2022. But in July-August, oil and gas revenues fell year on year.

☆ Nord Stream 1 pipeline may use repair equipment pool
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, Sept 29 (Reuters) - Russia's Nord Stream 1 gas pipeline may make use of the Pipeline Repair and Subsea Intervention (PRSI) Pool that provides repair equipment to member companies, it said in a statement to Reuters. read moreThe PRSI Pool provides pipeline repair equipment to its members as part of a cooperative of operating companies and includes Norway's Equinor (EQNR.OL) and Nord Stream 1 operator Nord Stream AG, among others. The Gazprom-led Nord Stream 1, which has an annual capacity of 55 billion cubic metres, was halted on Aug 31 for what Gazprom said would be three days of repair work. The operator of Nord Stream 2, which was built alongside Nord Stream 1 but has not been commissioned, did not immediately reply to a Reuters request for comment. Sweden's coast guard discovered a fourth gas leak on the damaged Nord Stream pipelines this week, a spokesperson told the Svenska Dagbladet newspaper.

A gas leak from Nord stream 1 is seen in the Swedish economic zone in the Baltic Sea in this picture taken from the Swedish Coast Guard aircraft on September 28, 2022. The European Union is investigating the cause of the leaks in the Gazprom-led (GAZP.MM) Nord Stream 1 and 2 pipelines under the Baltic Sea and has said it suspects sabotage. "The attack on strategic infrastructure means that the strategic infrastructure in the entire EU has to be protected," the EU official in Brussels said. Russia had halted deliveries via Nord Stream 1, saying Western sanctions had hampered operations. Nord Stream 2 had not started commercial operations.

☆ Russian oil and gas sector braces for tax hikes of over $60 bln in 2023-2025
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine. The budget is seen gaining an extra 628 billion roubles in 2023, almost 700 billion roubles in 2024 and 750 billion roubles in 2025 just by increasing MET on natural gas production. Register now for FREE unlimited access to Reuters.com RegisterTotal additional oil and gas tax revenues are seen at 1.28 trillion roubles next year, 1.13 trillion roubles in 2024 and 1.19 trillion roubles in 2025. It also proposes an increase in income tax on producers of liquefied natural gas (LNG), which will yield an additional 200 billion roubles in 2023. Deputy finance minister Alexei Sazanov said the government is aiming at skimming off windfall profits from oil and gas producers.

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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