The world economy is experiencing a global tectonic shift, with commodities becoming more valuable than money, the head of Russia’s state energy giant Gazprom, Alexei Miller, said on Thursday, adding that from now on it is a case of “our product, our rules.” “The game of nominal value of money …
Read More »Siemens confirms it failed to return turbines to Gazprom
German company Siemens has confirmed that Ukraine-related sanctions imposed on Russia have made it impossible for the equipment supplier to return gas turbines to Gazprom after they were repaired in Canada. The Russian energy company was forced to reduce gas supplies to Germany via the Nord Stream pipeline this week …
Read More »Berlin won’t nationalize seized Gazprom unit – media
The German government is reportedly planning to provide a loan of €10 billion ($10.4 billion) to rescue the local unit of Russia’s state-owned energy giant Gazprom, which was seized by the country’s energy regulator in April, Bloomberg reports. On Tuesday, the government said in an emailed statement that state-owned bank …
Read More »Gazprom cuts off gas to Denmark’s largest energy company and Shell in Germany
Denmark has become the fifth country to be cut off from Russian natural gas following the refusal of its biggest power wholesaler Orsted to pay for deliveries in rubles. Supplies to Shell Energy Europe Limited in Germany have also been halted for the same reason, Russian energy giant Gazprom announced …
Read More »Poland still buying Russian gas – Gazprom
Poland continues to buy Russian natural gas from Germany via reverse flows, after its direct supplies were suspended due to non-payment in rubles, Russia’s energy giant Gazprom said on Thursday. “This week Poland refused to pay for the Russian gas with the new terms, in rubles. It was grandly announced …
Read More »Gazprom halts gas supplies to Bulgaria, Poland
Gazprom, Russia’s main natural gas supplier, has announced a complete halt in gas exports to Bulgaria and Poland on Wednesday after the two countries refused to make payments in rubles. According to a company statement, supplies will not resume until Sofia and Warsaw comply with the new terms. The Russian …
Read More »Gazprom denies stoppage of gas supplies to Poland
Russian energy giant Gazprom said on Tuesday that natural gas deliveries to Poland via the Yamal-Europe gas pipeline have not been halted. The statement comes in response to media reports of a stoppage of supplies to the country. The announcement was made by Gazprom’s official representative, Sergey Kupriyanov, who also …
Read More »Gazprom offices searched in Germany – media
The German offices of Russian state energy giant and major gas exporter Gazprom were searched by European officials, Bloomberg reported on Wednesday, citing sources that “wished to remain anonymous.” The raid was conducted amid the investigation into the company’s role in the rise of natural gas prices in Europe, which …
Read More »UK prepares to ‘temporarily’ nationalize Gazprom retail unit – report
The UK is preparing to temporarily nationalize Gazprom’s British retail supply arm, Bloomberg reported on Monday. The measure is taken to ensure distressed companies continue energy supplies to customers amid losses due to higher energy costs. Gazprom Marketing & Trading Retail Ltd is a prime candidate to be taken into …
Read More »EU country won’t negotiate new gas deal with Russia’s Gazprom
Bulgaria will not negotiate a new natural gas contract with Russia’s state-owned energy giant Gazprom, amid the ongoing conflict between Moscow and Kiev, the country’s Deputy Prime Minister Assen Vassilev said Saturday. “In this situation, there’s no way there are talks with Gazprom,” he told BNR public radio. The country …
Read More »