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☆ Gazprom: Russian oil giant posts first annual loss in 20 years as sales to Europe collapse
▼ + stars: | 2024-05-03 | by ( ) edition.cnn.com time to read: +2 min

Moscow — Kremlin-owned gas giant Gazprom plunged to a net loss of 629 billion rubles ($6.9 billion) in 2023, its first annual loss in more than 20 years, as sales to Europe plummeted in the wake of Russia’s war in Ukraine. Analysts had expected net income of 447 billion rubles ($4.9 billion) in 2023, according to Interfax news agency. The company made a net profit of 1.2 trillion ($13.1 billion) rubles in 2022, the year Russia launched its full-scale invasion of Ukraine. Russia’s gas exports to Europe, once its primary export market, have slumped largely because of the political fallout from the conflict in Ukraine. The company’s core profit, or earnings before interest, taxes, depreciation and amortization known as EBITDA, dropped to 618.38 billion rubles ($6.7 billion) last year from 2.79 trillion rubles ($30.4 billion) in 2022, according to Reuters’ calculations.

Persons: Alexei Miller, Vladimir Putin, Ronald Smith Organizations: Gazprom, Analysts, Reuters, BCS Global Markets Locations: Moscow, Ukraine, Russia, St . Petersburg, Europe

☆ Moldovan president says audit disproves $800 million Gazprom debt claim: report
▼ + stars: | 2023-09-03 | by ( ) www.reuters.com time to read: +1 min

Moldovan President Maia Sandu attends a press conference during a meeting of the European Political Community at Mimi Castle in Bulboaca, Moldova June 1, 2023. REUTERS/Vladislav Culiomza/File Photo Acquire Licensing RightsSept 3 (Reuters) - An audit carried out by an international firm has disproved Russian gas giant Gazprom's claim that the Moldovan government owes it $800 million, Moldovan President Maia Sandu was quoted as saying on Sunday. The former Soviet republic, situated between Ukraine and EU member Romania, used to buy Russian natural gas. But in late 2021 Gazprom and its Moldovan subsidiary said it had accumulated hundreds of millions of dollars in debt which had to be repaid to ensure further stable supplies. Gazprom put the debt at $709 million a year ago, although the sum might have increased with the addition of interest.

Persons: Maia Sandu, Mimi, Vladislav Culiomza, Sandu, Moldova's, Ros Russell Organizations: REUTERS, Moldovan, Gazprom, Reuters, Thomson Locations: Bulboaca, Moldova, Soviet, Ukraine, Romania, Chisinau

☆ Russia's Gazprom Neft Q2 net profit falls 43% y/y
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +1 min

Profits for global oil majors have dropped by about half from a bumper 2022, when Russia's actions in Ukraine sent oil and gas prices soaring. Gazprom Neft did not publish its financial results last year. The company, the oil arm of gas giant Gazprom (GAZP.MM), also said its April-June total revenues decreased to 821.6 billion roubles from 835.8 billion in the same period in 2022. Russia's energy sector has been under severe pressure from Western sanctions, imposed over Moscow's actions in Ukraine. They include price caps and an embargo on purchases of Russia's sea-borne oil.

Persons: Vladimir Soldatkin, Mark Potter, Gareth Jones Organizations: Gazprom Neft, Kremlin, Gazprom, Gazprom Neft's, Thomson Locations: Russia, Ukraine MOSCOW, Ukraine, Moscow, China, India

☆ Putin’s Options for Dealing With the Wagner Group Aren’t Great - The New York Times
▼ + stars: | 2023-07-04 | by ( Colin P. Clarke | ) www.nytimes.com time to read: +3 min

(Those who did participate could join Mr. Prigozhin in Belarusian exile.) Even if Wagner fighters do decide to join Russian military units en masse, it won’t be easy for Moscow to integrate them. Another option would be for Mr. Putin to leave Wagner’s overseas operations as is, and install a new leader to replace Mr. Prigozhin. Mr. Prigozhin was revered by Wagner fighters, many of whom may chafe at the prospect of new leadership or a drastic change in organizational culture. Corporation is another Russian private military company, founded by Russian nationalist Igor Mangushev, with some experience abroad, but is much less influential and experienced than Wagner.

Persons: Putin, Wagner, Prigozhin, Sergei Shoigu, —, Prigozhin’s, Sergei Lavrov, ”, Wagner’s, Igor Mangushev Organizations: Russian, Ministry of Defense, Russian Ministry of Defense, Central African, Corporation, Gazprom Locations: Russia, Russian, Moscow, Cameroon, Burkina Faso, Equatorial Guinea, South Africa, Zimbabwe, Kenya, Africa, Mali, Central African Republic . Russia, Syria, Burundi, Central African Republic, Gabon, Yemen

The logo of Russia’s state gas company Gazprom was emblazoned on the shirts of players at the soccer club Toennies chaired. In Germany, Toennies’ story is far from unique. At the centre of Gazprom’s influence campaign was Schalke 04, the soccer club Toennies chaired at the time and which Gazprom began sponsoring in 2006. Russian gas imports have dropped dramatically and Germany is supplying tanks and other weapons systems to Ukraine. In 2001 Toennies assumed another of his older brother’s roles – chairman of soccer club Schalke 04.

Persons: Clemens Toennies, Vladimir Putin, Toennies, Willy Brandt, ”, Putin, Sberbank, Angela Merkel, “, ” Merkel, Bernd, Clemens, Putin’s, Alexei Gromov, Gromov, Gerhard Schroeder, Schroeder Organizations: Gazprom, Toennies, Schalke, Gazprom’s, Reuters, Miele, Volkswagen, Deutsche Telekom, ” Schalke, Chelsea, Kremlin, Former Locations: WIEDENBRUECK, Germany, Russia, Russian, Moscow, Ukraine, Berlin, Russians, Crimea, Gazprom, Rheda, German, Europe, Nord Stream, Dresden

☆ Factbox: EU keeps on doing business with Russia despite sanctions
▼ + stars: | 2023-03-29 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +5 min

Here is a list of areas where the EU keeps on doing business with Russia. TRADE FLOWSIn 2021, Russia was the EU's fifth-largest trading partner with goods exchange worth 258 billion euros, according to the EU executive European Commission. Since the invasion in 2022, the value of EU imports from Russia fell by a half to around 10 billion euros last December. Gas is not covered by EU sanctions, but Moscow slashed pipeline deliveries to Europe since the invasion. The EU imported 2.1 billion euros worth of nickel in 2021, up to 3.2 billion euros last year, according to Eurostat.

REUTERS/Florence LoBEIJING, March 20 (Reuters) - Chinese state energy giants have made a number of multi-billion dollar investments in Russia, one of China's top oil and gas suppliers, across various stages of the energy supply chain. Below are the main investments by the Chinese government, key state-owned energy companies and their listed vehicles, based on company releases and Reuters reports. 2005: Sakhalin-3 Veninsky oil projectRussian oil giant Rosneft (ROSN.MM) and Sinopec (600028.SS), agreed to jointly explore the Sakhalin-3 Veninsky block during a visit by China's then-president Hu Jintao to Moscow in 2005. It became China's first energy project in Russia. 2019: Arctic LNG 2In 2019 China's CNOOC Ltd (0883.HK) and PetroChina agreed to buy a combined 20% stake in the $25.5 billion Arctic-2 liquefied natural gas project led by Novatek.

☆ Economic asphyxiation puts Russia in China’s orbit
▼ + stars: | 2023-03-20 | by ( Pierre Briancon | ) www.reuters.com time to read: +7 min

Cut off from foreign markets by sanctions, Vladimir Putin’s government is at pains to finance budget deficits that would have been manageable in peacetime. The financial difficulties are pushing Russia further into the sphere of influence of China’s President Xi Jinping, who visits Moscow this week. Dipping into the fund, though, will push Moscow further into China’s financial orbit, Russian economist Alexandra Prokopenko has noted. In the short term, financial hope for Russia can only come from a significant increase in oil and gas prices. Trade between China and Russia increased by 34% last year as Chinese imports of oil and gas jumped 50%.

☆ Russia's Nord Stream gas pipelines may have been sabotaged by pro-Ukraine group, report says
▼ + stars: | 2023-03-07 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The Nord Stream pipeline explosions last year may have been the work of a pro-Ukraine group. A report in the New York Times on Tuesday cited new intelligence seen by US officials. US officials have reviewed data that indicates that the perpetrators were Ukrainian or Russian nationals and supportive of Kyiv, the report said. Gazprom, which owns the Nord Stream pipeline, saw its revenue halved as a result. Meanwhile, Russia recently decided to leave the pipelines in disrepair, effectively giving up on the European market for its gas exports.

☆ 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.

☆ 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.

☆ 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.

☆ Ukraine conflict, sanctions set to blow hole in Russia's finances
▼ + stars: | 2022-11-02 | by ( Darya Korsunskaya | ) www.reuters.com time to read: +6 min

While Russia's economy initially held up relatively well to the waves of Western sanctions imposed on it, the impact is beginning to show - in analysts' assessments, if not in those of the government. Analysts at state bank VTB (VTBR.MM) forecast the gap at an even wider 4-4.5 trillion roubles. The finance ministry sees non-energy revenue, or that related to economic activity, at 11.5% of GDP in 2023, around 7% higher than this year and on par with pre-pandemic levels. The finance ministry did not reply to a Reuters request for a comment. "I very much hope that the finance ministry will avoid outright money printing."

☆ How Russia Pays for War
▼ + stars: | 2022-10-30 | by ( Lazaro Gamio | Ana Swanson | ) www.nytimes.com time to read: +17 min

Invasion –84% Imports from Russia –20% Germany Current total trade $4.8 billion Since invasion –3% Exports to Russia Avg. Invasion –51% Imports from Russia +38% The Netherlands Current total trade $2 billion Since invasion +32% Exports to Russia Avg. Invasion –52% Imports from Russia +74% China Current total trade $15 billion Since invasion +64% Exports to Russia Avg. Invasion +24% Imports from Russia +98% India Current total trade $3.3 billion Since invasion +310% Exports to Russia Avg. Invasion –19% Imports from Russia +430% Turkey Current total trade $6.2 billion Since invasion +198% Exports to Russia Avg.

☆ China could be set for even more Russian gas as Gazprom begins testing a key supply hub to reroute energy from Europe
▼ + stars: | 2022-10-26 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Russia's state-run Gazprom said Tuesday it is testing gas supplies in Kovykta, a key hub in east Siberia, per Reuters. According to the report, Gazprom said Kovykta and new gas transport operations are set to come online in December. Those flows would head to China via the Power of Siberia pipeline and continue Moscow's efforts to reroute natural gas away from Europe. At the end of 2019, Gazprom begin delivering gas to China out of the Chanayda field, which also uses the Power of Siberia. In 2020, the state-run energy giant sent 4.1 billion cubic meters of gas to China, then 11 billion in 2021.

"SAP is fully committed to winding down our business in Russia as quickly as possible," a SAP spokesperson said. Russia's parliament has been discussing draft legislation that would allow Moscow to seize Western companies' assets and possibly prosecute executives involved in implementing sanctions against Russia. While Gazprom and Sberbank were hit by Western sanctions, Nornickel was not. The SAP case sheds light on the complications Western companies face leaving Russia. While some departing companies have fired local staff, SAP gave them the option to relocate from Russia.

☆ 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.

☆ Gas is pouring out of the Nord Stream pipelines. Here’s what you need to know
▼ + stars: | 2022-09-28 | by ( Rob Picheta | ) edition.cnn.com time to read: +7 min

London CNN —Western nations have said leaks in two Russian gas pipelines, Nord Stream 1 and 2, are likely the result of sabotage. What happened on the Nord Stream pipelines? Swedish authorities first sounded the alarm on Tuesday about leaks in the Nord Stream 1 and Nord Stream 2 pipelines – both of which run under the Baltic Sea near Sweden and Denmark. The two Nord Stream pipelines designed to transport Russian gas to the EU were years in the planning. The damage to the Nord Stream pipelines may spell an ignominious end for the 25-year project, at least for the near future.

Genreal view of electricity pylons and power lines leading from the Uniper coal power plant in Hanau, Germany, early morning November 23, 2016. Alongside surging European gas prices, crude oil jumped more than 2% on Wednesday after Putin announced the partial military mobilisation, escalating the war in Ukraine and raising concerns of even tighter global energy supplies. read moreAfter buying Fortum's stake, the German state will hold about 99% of Uniper, the economy ministry said. Eastbound gas flows via the Yamal-Europe pipeline to Poland from Germany were halted on Wednesday, while Russian supply via Ukraine held stable. read moreMoscow has said it would cut all oil and gas flows to the West if such cap was implemented.

☆ Putin says Russia's not responsible for the EU's energy crisis — it just needs to 'push the button' on the Nord Stream 2 pipeline to get more natural gas
▼ + stars: | 2022-09-19 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Europe is dependent on Russia for natural gas, but Gazprom has turned off the Nord Stream 1 pipeline. Russian President Putin said the EU just has to turn on Nord Stream 2 for more natural gas. The Nord Stream 2 runs parallel to Nord Stream 1, a key gas pipeline linking Russia and Europe. The Nord Stream 2 natural-gas pipeline runs in parallel to Nord Stream 1, a key pipeline that delivers fuel from Russia to Europe. The $11 billion Nord Stream 2 pipeline was completed in September, and stands to double Russia's gas flows to Europe.

☆ Kremlin set to receive $10 billion from state-run gas company Gazprom after it saw record profits this year
▼ + stars: | 2022-09-01 | by ( Matthew Loh | ) www.businessinsider.com time to read: +2 min

Russian state-run giant Gazprom is set to give $10 billion in dividends to the Kremlin. The Kremlin owns half of Gazprom, which saw a record net profit for the first half of 2022. Sign up for our newsletter to receive our top stories based on your reading preferences — delivered daily to your inbox. Gazprom on Tuesday reported net earnings of $41.75 billion, or 2.5 trillion rubles, from the start of 2022, up from 968 billion rubles in the first half of 2021, Insider's Brian Evans reported. Russian natural gas accounted for around 40% of Europe's gas power needs before the war in Ukraine.

☆ Sales of heated blankets and portable heaters are soaring in Europe despite a record heatwave, as people try to avoid sky-high winter fuel bills
▼ + stars: | 2022-08-25 | by ( Kate Duffy | Jyoti Mann | ) www.businessinsider.com time to read: +4 min

Europeans are rushing to buy portable heaters and heated blankets ahead of energy bill hikes this winter. Portable electric heaters sales from two Swiss retailers are up 300% this year, per Tagesanzeige. Sales of portable electric heaters from Swiss retailers Microspot and Interdiscount are up 300% this year compared with 2021, a spokesperson told Swiss newspaper Tagesanzeige. The companies sold the most of the heaters in July, the spokesperson told Tagesanzeige. The spokesperson told Insider that: "The following is speculation, but in Switzerland we are currently expecting gas shortages in winter.

☆ Inflation in Germany could hit a 70-year high of 10% amid Russia's natural-gas squeeze, German central bank chief says
▼ + stars: | 2022-08-22 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Germany's inflation rate could hit 10% this fall, the country's chief central banker told Rheinische Post. The country is dealing with an energy crisis as Russian natural-gas supplies slow. "The issue of inflation will not go away in 2023," Nagel told Rheinische Post, according to an official transcript from the German central bank. The German central bank had in June forecast 2023 inflation to reach 4.5%, but Nagel told Rheinische Post that price gains are likely to average over 6% instead. "If further delivery problems are added, for example due to prolonged low water levels, the economic prospects for the second half of the year would deteriorate further," Nagel told the German media outlet.

☆ Va avea 703 metri și 150 de etaje. Cum va arăta și unde se va construi a doua cea mai înaltă clădire din lume (VIDEO)
▼ + stars: | 2021-05-29 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +2 min

Rusia va construi a doua cea mai înaltă clădire din lume. În prezent, a doua cea mai înaltă clădire din lume este Shanghai Tower, cu 632 de metri. Turnul de la periferia Sankt Petersburgului se va numi Centrul Lahta II și a fost proiectat de biroul de arhitectură Kettle Collective. Viitorul zgârie-nori va fi ridicat pe malul Golfului Finlandei și va găzdui spații de birouri, dar și locuințe și spații de relaxare. Însă chiar dacă va fi ridicat rapid, Centrul Lahta II s-ar putea să nu rămână prea mult a doua cea mai înaltă clădire din lume.

Persons: . Gazprom Organizations: CNN, Gazprom Locations: Rusia, Sankt Petersburg, Europa, Shanghai Tower, Sankt Petersburgului, Collective, Finlandei, Dubai, Arabia Saudită

UNInterviu: Domnule Ceban, să trecem din Ucraina pe malul stâng al Nistrului și vă rog să ne spuneți care este suma datoriilor regiunii transnistrene? Vorbim despre datoria companiei noastre TiraspolTransGaz, care este de aproape 6,8 miliarde de dolari - da, e mare și da, noi cunoaștem. În ultimii cinci ani, compania MoldovaGaz a achitat consumul curent și 55 de milioane de dolari din această datorie formată până în 2016. Situația urmează a fi abordată sub mai multe aspecte. Gazprom este gata de discuții și așteptăm un Guvern cu puteri depline pentru a se lua o decizie și de a fi demarate negocierile”.

Persons: Vadim Ceban Organizations: MoldovaGaz, Gazprom Locations: Ucraina, transnistrene, transnistreană, Moldova

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