Russia

Gas Production in Russia to Beat Record in 2018
Russia

Gas Production in Russia to Beat Record in 2018

Natural gas production in Russia this year will exceed 700 bcm, which will be a new record. “The record of gas production will be set at more than 700 bcm,” said Alexander Gladkov, head of the department of oil and gas production and transportation at the Ministry of Energy of Russia. Last year, production reached 691.1 bcm of gas. In […]

TAP Can Also Be Filled with Russian gas – Greek Prime Minister
Russia

TAP Can Also Be Filled with Russian gas – Greek Prime Minister

The Trans-Adriatic gas pipeline (TAP), which provides for the transportation of Azerbaijani gas to Europe, can be filled with Russian gas. According to RIA Novosti, Greek Prime Minister Alexis Tsipras said this on December 7 following a meeting with Russian President Vladimir Putin. “80 percent of the TAP pipeline is ready. I believe that we have the necessary technical conditions […]

In January-November, Gazprom increased gas production by 5.8%
Russia

In January-November, Gazprom increased gas production by 5.8%

Gas holding Gazprom for 11 months of the current year increased gas production by 5.8% to 451.1 billion cubic meters. This was reported by the company. “From January to November 2018, Gazprom produced 451.1 billion cubic meters of gas, which is 5.8% or 24.7 billion cubic meters more than in the same period last year,” said Gazprom, noting that the […]

Construction of Underwater Part of Turkish Stream Completed
Russia

Construction of Underwater Part of Turkish Stream Completed

On November 19, officially finishes the construction of the underwater part of the Turkish Stream, which runs under the Black Sea. Vladimir Putin will arrive at the significant ceremony in Turkey. Unlike Nord Stream 2, the construction of the southern gas route this time was not accompanied by serious opposition from external players. However, it is possible that the main […]

Miller Responds to US Threats to Disrupt Construction of Nord Stream – 2
Russia

Miller Responds to US Threats to Disrupt Construction of Nord Stream – 2

The Gazprom head Alexei Miller expressed confidence that the Nord Stream 2 project will be implemented, despite threats from the United States. On Tuesday, the US Ambassador to the European Union, Gordon Sundland, said that Washington has “many tools” to slow down the construction of the gas pipeline, which, he said, makes Europe, and therefore the United States, vulnerable. “Well, […]

Gazprom: There Is Enough Market Space for All Suppliers
Russia

Gazprom: There Is Enough Market Space for All Suppliers

We have excellent working relations with the Azerbaijani side. This was stated by Alexander Medvedev, Deputy Chairman of the Board of Gazprom, in an interview with the Gazprom magazine. Speaking about the possibility of competition between Russian and Azerbaijani gas, Medvedev noted that there is enough space in the market for all suppliers. “Regarding the competition of Russian gas and […]

BP eyes entering several new Rosneft projects
Russia

BP eyes entering several new Rosneft projects

British BP is considering entering several new projects of Rosneft, Rosneft CEO Igor Sechin said at the Eurasian Economic Forum rum. “Our major shareholder and long-term business partner BP has directly entered several Rosneft projects in Russia, such as Taas-Yuryakh and Yermak, and they are considering entering several new projects,” Sechin said. Rosneft plans to launch more than 7 new […]

Novatek announces 3Q financial results under IFRS
Russia

Novatek announces 3Q financial results under IFRS

PAO NOVATEK today released its consolidated interim condensed financial statements as of and for the three and nine months ended 30 September 2018 prepared in accordance with International Financial Reporting Standards (“IFRS”).   IFRS Financial Highlights  (in millions of Russian roubles except as stated) 3Q18 3Q17   9M18 9M17 217,934 129,970 Oil and gas sales 591,237 412,001 1,432 733 Other revenues […]

Gazprom to start production drilling at Kovyktinskoye field in 2019
Russia

Gazprom to start production drilling at Kovyktinskoye field in 2019

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Sergey Levchenko, Governor of the Irkutsk Region, took place in St. Petersburg today. The parties discussed ongoing and future cooperation, noting the strategic importance of the Irkutsk Region for Gazprom. There, the Company is shaping the Irkutsk gas production center on the basis of the Kovyktinskoye field. Gazprom continues to prepare the field to move from development to full-scale production. In 2018, […]

Lukoil plans to start oil production at Caspian field in 2023
Russia

Lukoil plans to start oil production at Caspian field in 2023

Lukoil plans to start industrial oil production at the Rakushechnoye field in the Caspian Sea in 2023, the company said. The expected or stable level of production is 1.2 million tons of oil per year. “The proximity to the existing fields of the company allowed optimizing the project of the Rakushechnoye field arrangement by using the existing infrastructure for the […]

Novatek and Fluxys plan to build an LNG terminal in Rostock
Russia

Novatek and Fluxys plan to build an LNG terminal in Rostock

Today, a joint venture between PAO NOVATEK and Fluxys, signed a Land Lease Agreement with the Rostock Port for construction of a mid-scale LNG transshipment terminal located in the port of Rostock in Germany. Joint venture will design, construct, finance, own and operate a mid-scale LNG transshipment terminal (the “LNG Terminal”) with capacity of approximately 300 thousand tons per annum […]

Russia to remain global oil industry leader in long term — Energy Minister
Russia

Russia to remain global oil industry leader in long term — Energy Minister

Russia will remain the global oil industry leader over the long term, Energy Minister Alexander Novak told reporters on Tuesday. “Russia is currently the leader of the global oil industry and will remain as such on a long-term horizon. Our strategy provides for maintaining oil production at the current level, even with a small increase,” the minister said. Nevertheless, Russia […]

Gazprom approves Energy Efficiency and Energy Saving Policy
Russia

Gazprom approves Energy Efficiency and Energy Saving Policy

The Gazprom Management Committee approved the corporate Energy Efficiency and Energy Saving Policy. The newly-adopted document builds on Gazprom’s existing Energy Saving and Energy Efficiency Concept for 2011–2020 and reflects the Company’s obligations in this area. Energy efficiency and saving is designated as a top priority for Gazprom. The Company will continue to make sustained efforts to improve energy efficiency, save natural energy resources and reduce greenhouse gas emissions at its […]