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☆ Moldova central bank to hold extraordinary meeting on Monday
▼ + stars: | 2022-12-04 | by ( ) www.reuters.com time to read: 1 min

KYIV, Dec 4 (Reuters) - Moldova's central bank said on Sunday that it will hold an extraordinary meeting on Monday to assess its main policy indicators, including its key rate. Moldova's key policy rate is currently 21.5%. The country is battling a spike in energy costs as it wages a dispute with Russia's Gazprom, its main gas supplier. Reporting by Alexander Tanas, writing by Max Hunder, editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ Moldovagaz to buy gas from Energocom as well as from Gazprom
▼ + stars: | 2022-12-04 | by ( ) www.reuters.com time to read: +1 min

Companies Gazprom PAO FollowMoldovagaz SA FollowCHISINAU, Dec 4 (Reuters) - Moldova's natural gas company Moldovagaz will start buying gas from domestic supplier Energocom while continuing to buy it from Russia's Gazprom (GAZP.MM), the head of Moldovagaz said late on Saturday. Gas supplies are an ongoing source of tension between Russia and Moldova, which lies between southern Ukraine and Romania. "Also, starting tomorrow, Moldovagaz will purchase natural gas from Energocom, according to daily nominations, in the amount of 3.5 million cubic meters." It was unclear where Energocom, Moldova's state energy firm, was purchasing the gas. In September, Energocom registered as a natural gas trader in Romania to smooth gas imports, according to the company's website.

☆ Moldova Deputy PM announces deal to reduce risk of massive power outages
▼ + stars: | 2022-12-03 | by ( ) www.reuters.com time to read: 1 min

KYIV, Dec 3 (Reuters) - Moldovan Deputy Prime Minister Andrei Spinu announced an energy deal on Saturday he said would reduce the risk of "massive electricity outages" in the former Soviet republic. Moldova has suffered from widespread power outages amid Russian air strikes on energy infrastructure in neighbouring Ukraine and a reduced flow of natural gas from Russian state energy giant Gazprom. Reporting by Alexander Tanas; Writing by Dan Peleschuk; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

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.

☆ Huge trade partner and ‘systemic rival.’ Europe has a China problem
▼ + stars: | 2022-11-30 | by ( Anna Cooban | ) edition.cnn.com time to read: +8 min

The Covid-19 pandemic, Russia’s invasion of Ukraine, and tit-for-tat sanctions between China and EU lawmakers have strained relations since. The total value of the goods trade between China and Europe hit €696 billion ($732 billion) last year, up by nearly a quarter from 2019. China was the third largest destination for EU goods exports, accounting for 10% of the total, according to Eurostat data. Even so, the United States may exert more pressure on Europe to pull away from China, Borges de Castro noted. EU investment into China has also become more concentrated.

☆ Gazprom says European gas prices could pass $3,000 per thousand cubic metres
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: 1 min

JERA president expects U.S. Freeport LNG shipments fully back by March, article with imageEnergy category · November 29, 2022 · 5:39 AM UTCJapan's biggest buyer of liquefied natural gas (LNG), JERA, expects U.S. Freeport LNG production will resume in mid-December, with its shipments expected to be fully back by March, President Satoshi Onoda said on Tuesday.

☆ Russia's Gazprom lifts immediate threat of cut to Moldova's gas supply
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +3 min

[1/2] The logo of Moldovagaz energy company is on display at a gas filling station in Chisinau, Moldova October 28, 2021. Last week, Gazprom accused Ukraine of withholding gas supplies which pass through the country on the way to Moldova - something Kyiv denied - and said it could start reducing those flows from Monday. European gas prices rose last week on Gazprom's threat to cut flows to Moldova, as the supply route via Ukraine is the last functioning Russian gas corridor to Europe. Gas supplies are a constant source of tension between Russia and Moldova. Moldova and Ukraine last week accused Russia of using gas supplies as an instrument of blackmail, an accusation Moscow rejects.

☆ Russia backtracks on threat to cut gas supply to Moldova via Ukraine
▼ + stars: | 2022-11-28 | by ( ) edition.cnn.com time to read: +1 min

Russian state gas producer Gazprom withdrew a threat to reduce gas supplies to Moldova from Monday but said it reserved the right to lower or halt flows in future if Moldova failed to make agreed payments. Last week, Gazprom accused Ukraine of withholding gas supplies which pass through the country on the way to Moldova — something Kyiv denied — and said it could start reducing those flows from Monday. In its latest statement, Gazprom said that Moldovan natural gas company Moldovagaz had paid for gas deliveries in November, adding that it had received payment for what it called gas destined for Moldovan customers but which remained in Ukraine. In a sign that flows were uninterrupted, Gazprom said separately on Monday that it will ship 42.2 million cubic meters (mcm) of gas to Europe via Ukraine on Monday, only slightly down from Sunday’s level of 42.6 mcm. Both figures include flows to Moldova.

☆ Russia's Gazprom won't reduce gas supplies to Moldova, but reserves right to
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +1 min

Companies Gazprom PAO FollowNov 28 (Reuters) - Russian state gas producer Gazprom (GAZP.MM) withdrew a threat to reduce gas supplies to Moldova from Monday but said it reserved the right to lower or halt flows in future if Moldova failed to make agreed payments. Last week, Gazprom accused Ukraine of withholding gas supplies which pass through the country on the way to Moldova - something Kyiv denied - and said it could start reducing those flows from Monday. In its latest statement, Gazprom said that Moldovan natural gas company Moldovagaz had paid for gas deliveries in November, adding that it had received payment for what it called gas destined for Moldovan customers but which remained in Ukraine. However, Gazprom accused Moldova of "regular violations" of payment obligations and added: "Gazprom reserves the right to lower or to fully suspend supplies in case of payment violation." Both figures include flows to Moldova.

☆ Gazprom to preserve Nord Stream gas-pumping equipment - Kommersant
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Nord Stream is seen at the headquarters of Nord Stream AG in Zug, Switzerland March 1, 2022. REUTERS/Arnd Wiegmann/File PhotoNov 28 (Reuters) - Russia's Gazprom (GAZP.MM) plans to preserve gas pumping equipment at the Portovaya and Slavyanskaya compressor stations that supply the Nord Stream 1 and Nord Stream 2 pipelines, the Kommersant newspaper reported on Monday, citing sources. According to Kommersant, Gazprom plans to keep the equipment at the stations and not move it to other sites. Neither of the Nord Stream pipelines, laid on the bed of the Baltic Sea from Russia to Germany, are currently transporting gas. Nord Stream 1 was shut down for repairs on Aug. 31 and never restarted, while Nord Stream 2 was never launched after Russia's invasion of Ukraine.

☆ EU delays talks on Russian oil price cap until next week, diplomats say
▼ + stars: | 2022-11-25 | by ( ) www.cnbc.com time to read: +2 min

A meeting of European Union government representatives, scheduled for Friday evening to discuss a Group of Seven proposal to cap Russian seaborne oil prices, was canceled, EU diplomats said. On Thursday, European Union governments were split on the level at which to cap Russian oil prices to curb Moscow's ability to pay for its war in Ukraine without causing a global oil supply shock. The EU diplomats, who declined to be identified, said it was not clear how near both sides were to an agreement. "The latest is that Poland, Estonia and Lithuania are trying to outdo each other on their toughness on the price cap," one of the diplomats close to the talks said, adding that Poland wanted to link agreement of the price cap to a new package of sanctions against Russia. "Meanwhile Malta, Greece and Cyprus are in it for the money, whichever way they can get it - through a higher cap, or compensation, etc.

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.

☆ FTX's bankruptcy hearing is underway and the details are wild. Here's what to know.
▼ + stars: | 2022-11-23 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

FTX kicked off its bankruptcy hearing on Tuesday, and the initial statements give Sam Bankman-Fried and company little to cheer. James Bromley, counsel to FTX's new management, had choice words during the first day in the Delaware hearing. Ray and his new management team's estimate of FTX's cash holdings has nearly doubled, a Saturday filing showed. In the letter, seen by the Financial Times, Bankman-Fried said excessive borrowing by Alameda Research was responsible for FTX's collapse. Elon Musk's EV maker has seen its market cap plunge from a high of $1.2 trillion.

☆ Eastward gas flows rise on Yamal pipeline, flows via Ukraine steady
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +1 min

Nov 23 (Reuters) - Eastbound gas flows rose on Wednesday morning on the Yamal-Europe pipeline to Poland from Germany, data from pipeline operator Gascade showed while flows of Russian gas to Europe via Ukraine remained steady. Nominations for Russian gas into Slovakia from Ukraine via the Velke Kapusany border point stood at 41.7 million cubic metres (mcm), up slightly from 40.5 mcm the previous day, Ukrainian transmission system data showed. Russia's Gazprom (GAZP.MM) said it will ship 42.1 million cubic metres (mcm) of gas to Europe via Ukraine on Wednesday, a similar level to recent days. Gazprom has warned it could reduce gas flows via Ukraine, saying it believes some gas destined for Moldova are being kept by Ukraine. Gas flows via the Nord Stream 1 pipeline, which crosses the Baltic Sea to Germany from Russia, remained at zero.

☆ Russia Threatens to Reduce Gas Exports to Europe Further
▼ + stars: | 2022-11-22 | by ( Georgi Kantchev | ) www.wsj.com time to read: 1 min

Russian natural-gas giant Gazprom PJSC threatened to further throttle exports to Europe via Ukraine from next week, putting in question one of the last remaining routes for Russian gas to reach Europe. The pipeline via Ukraine is one of two functioning gas-pipeline links between Russia and Europe, along with a route via Turkey. Moscow this year has cut off most of its once-plentiful gas exports to Europe in what Western governments say is retaliation for their support for Ukraine in the war.

☆ Polish regulator to appeal after Gazprom Nord Stream 2 fine annulled
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +2 min

WARSAW, Nov 21 (Reuters) - UOKiK will appeal a ruling that annulled fines it imposed on Russia's Gazprom (GAZP.MM) and five other companies responsible for building the Nord Stream 2 pipeline, the Polish regulator said on Monday. UOKiK in 2020 fined Gazprom more than 29 billion zlotys ($6.33 billion) for building the Nord Stream 2 gas pipeline without Warsaw's approval. It also imposed a total fine of 234 million zloty spread across five other companies involved in financing the project. The other companies affected by the fines were Engie Energy (ENGIE.PA), Uniper (UN01.DE), OMV (OMVV.VI), Shell (SHEL.L) and Wintershall. Poland was a staunch opponent of the Nord Stream 2 project because it feared Russia could use energy supplies to exert influence over European countries.

☆ Powers meet to pledge urgent support for Moldova as winter nears
▼ + stars: | 2022-11-21 | by ( John Irish | ) www.reuters.com time to read: +1 min

PARIS, Nov 21 (Reuters) - Some 45 countries and institutions meet in Paris on Monday to pledge millions of euros of aid for Moldova, as fears mount that it could be further destabilised by the conflict in Ukraine. Largely dependent on Russia energy supplies, Moldova is facing more difficulties with winter arriving and Moscow cutting natural gas supplies by about 40%, hurting its ability to supply enough electricity to its population. Moldova is a former part of the Soviet Union, some of whose territory is occupied by Moscow-backed separatists. Donor conferences in Berlin and Bucharest earlier this year saw pledges in total of about 1.3 billion euros ($1.34 billion). Aid would be used to support Moldova's budget and electricity supplies as well as the costs for hosting thousands of Ukrainian refugees.

☆ Russian blue chips tank after people killed in Poland near Ukraine border
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: 1 min

[1/3] Gazprom logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. REUTERS/Dado Ruvic/IllustrationNov 15 (Reuters) - Shares of Russian blue chips including Gazprom (GAZP.MM), Rosneft (ROSN.MM), Sberbank (SBER.MM), Polyus (PLZL.MM) and Nornickel (GMKN.MM) were down by down 2-3.8% in late trade in Moscow. Two people were killed in an explosion in Przewodow, a village in eastern Poland near the border with Ukraine, firefighters said on Tuesday. Russian defense ministry said no strikes near Ukrainian-Polish border were conducted by Russian weapons. Reporting by Reuters; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

☆ Germany Nationalizes Gazprom’s German Business to Secure Energy Supply
▼ + stars: | 2022-11-14 | by ( Bojan Pancevski | ) www.wsj.com time to read: 1 min

BERLIN—Germany will nationalize key German and European arms of Russian natural gas giant Gazprom PJSC and spend more than 13 billion euros, equivalent to $13.44 billion, to shore up the business in a bid to guarantee energy supplies, the German government said Monday. Berlin in March assumed management of the assets of Gazprom Germania GmbH, changing the company’s name to Securing Energy for Europe GmbH or SEFE. The government said it had to secure vital energy infrastructure and supplies in the early days of Moscow’s invasion of Ukraine.

☆ Poland to take over Polish assets of Gazprom - report
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

Companies Gazprom PAO FollowRzeczpospolita Polska FollowWARSAW, Nov 14 (Reuters) - Poland will take over the Polish assets of Russia's Gazprom (GAZP.MM) , the Rzeczpospolita daily reported on Monday. In September, Poland imposed sanctions on Gazprom and said its assets would be frozen. According to the daily newspaper the move concerns Gazprom's 48% stake in Europolgaz, the company that owns the Polish section of the Yamal pipeline. In April, Poland imposed sanctions on 50 Russian oligarchs and companies, including Gazprom, in a move to increase pressure on Moscow over its invasion of Ukraine. Simultaneously, Russia halted gas exports to Poland as Warsaw refused to pay in roubles.

☆ Germany nationalises Sefe to oust Gazprom, secure gas supply
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Nov 14 (Reuters) - Germany will nationalise gas importer Sefe, formerly known as Gazprom Germania, the economy ministry said on Monday, in a move to protect it from bankruptcy and force Russia out of the company. Sefe was dropped by Russia's Gazprom (GAZP.MM) earlier this year and put under German state trusteeship in April. It has since received close to 10 billion euros ($10.3 billion) in state-backed credit lines. Under the ordered measures, Sefe will then issue new shares to the same nominal amount that will be subscribed by Germany. In addition to the nationalisation, Berlin also announced that it would boost Sefe's loan from state lender KfW to 13.8 billion euros from a previous 11.8 billion euros.

☆ Russia's Rosneft to pay $3.6 bln in first nine-month dividend
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

Reuters calculations found the payout would be 216 billion roubles. In reply to a Reuters request, Rosneft said the board had recommended paying the nine-month dividend as 50% of net profits earned in the first six months, declining further comments. In January-October, the budget showed a surplus of 128.4 billion roubles, reflecting a one-off mineral extraction tax (MET) on Gazprom. To meet the 1.25 trillion roubles in MET hike, Gazprom cancelled dividends for first time since 1998. Next year, the finance ministry forecasts the deficit will double to 3 trillion roubles, or 2% of GDP, and analysts say the gap could be up to 4.5 trillion roubles.

☆ Poland says to take over Gazprom's Polish assets
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

WARSAW, Nov 14 (Reuters) - Poland will take over Gazprom's (GAZP.MM) Polish assets, a minister said on Monday, adding the move concerned the Russian company's 48% stake in Europolgaz, which owns the Polish section of the Yamal gas pipeline. The compulsory administration will ensure security of the critical infrastructure used for gas transit, Polish Development Minister Waldemar Buda, said in an emailed statement. Russia at the same time halted gas exports to Poland after Warsaw refused to pay in roubles. While Europolgaz owns the 684-kilometer long Polish section of the Yamal, the pipeline is operated by Polish state-owned gas transmission company Gaz-System. After Gazprom was sanctioned, the pipeline operator did not have a partner for making key decisions on the infrastructure.

☆ Engie upgrades full-year guidance on boost from high power prices
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

Nov 10 (Reuters) - French power company Engie (ENGIE.PA) on Thursday raised its full-year net income guidance, as energy prices surged in the wake of Russia's Ukraine invasion, and boosted its earnings at end-September. The company has benefited from the jump in power prices as the Ukraine war highlighted Europe's reliance on Russian gas, which has left the bloc seeking alternative energy sources. Engie's earnings before deducting interest and taxes (EBIT) for the nine months to September 30 came in at 7.3 billion euros ($7.32 billion), up 79.3% organically from a year earlier. Engie also said it expected earnings before interest, taxes, depreciation and amortisation (EBITDA) in the range of 13.2 and 14.2 billion euros and EBIT from 8.5 to 9.5 billion. Finance chief, Pierre-Francois Riolacci, said the annual forecast was now including a few hundred million euros in costs relating to a European revenue cap aimed at addressing high power prices for consumers.

☆ Europe still can't live without Russian LNG exports
▼ + stars: | 2022-11-09 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

London CNN Business —Europe may be closer than ever to breaking its energy dependence on Moscow, but it still can’t live without one type of Russian natural gas. Russian imports doubled in the year to September to 1.2 million tons, Rystad data shows. The majority of the Russian LNG imports come from privately owned Novatek, the country’s second-largest natural gas producer after Gazprom. “I expect that Russian LNG will continue to play an important role in filling European storage going into winter of 2023,” he told CNN Business. “[Europe] would rather get whatever [it] can in terms of Russian pipeline gas and Russian LNG… it would take a lot before [it] would think about sanctioning gas or LNG from Russia,” Ramesh said.

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