Finland seizes $4.25 billion in Russian assets as part of the Naftogaz case
Documents from a Finnish court show that the court ordered the confiscation of assets worth $4.25 billion owned by Russia and located in Finland at the request Naftogaz. The Finnish Enforcement Authority confirmed it was executing this order. Since 2016, Naftogaz has taken legal action against Russia to seek compensation for the expropriation…
In a legal dispute with Ukraine's Naftogaz, Russia contests the seizure of Finnish assets.
The Kremlin announced on Tuesday that Russia would file a lawsuit against the confiscation of Russian state assets by the Ukrainian oil and natural gas company Naftogaz. Naftogaz's lawyers announced on Sunday that they had frozen Russian state-owned assets and real estate in Finland, worth tens or hundreds of millions of dollars. Naftogaz…
Naftogaz CEO: Ukraine produces 53 mcm gas per day
The CEO of Naftogaz said that Ukraine produces 53 million cubic meters of natural gas per day, including 43-44 Mcm produced by the state energy group. Oleksiy Cernyshov said Naftogaz had prepared for different scenarios in advance of the winter months, and that it ensured appropriate quantities of gas were stored. According to him, Ukraine currently has less than 13 billion cu m of natural gas in underground storage.
S&P upgrades Austria's credit ratings outlook to positive and sees improvements in energy supply
S&P Global Ratings, the credit rating agency, has upgraded Austria's outlook from stable to positive. The improvement in Austria's energy supply and its solid budget situation were cited as reasons for this change. S&P's statement on Friday night said that the positive outlook reflects Austria's potential to improve its energy supply position while its economy remains strong over the next 24 month.
Gazprom Says Nord Stream Payments Blocked by Swiss Injunction
Gazprom said a Swiss court has issued an injunction blocking payments from the operators of the Nord Stream gas pipeline as part of a legal dispute between the Russian gas producer and Ukraine's Naftogaz.All payments from Nord Stream AG and Nord Stream 2 AG are to be directed to the Swiss bailiffs, Gazprom said in a program for a eurobond issue dated November 9.Gazprom intends to challenge the injunction in court, TA
Swedish Court Revokes Suspension of Gazprom vs Naftogaz Ruling
A Swedish appeals court said on Thursday it had revoked a previous suspension of an arbitration ruling that blocked attempts by Ukraine's Naftogaz to seize Gazprom's foreign assets in a long-running dispute over gas contracts.Reporting by Olof Swahnberg
Naftogaz Says British Court Grants Gazprom Asset Freeze in UK
Ukraine state oil and gas firm Naftogaz said on Tuesday a London court has granted its request to freeze the British assets of Russia's Gazprom, to enforce an earlier arbitration ruling from Sweden.That ruling, made by the Stockholm arbitration court in February, was meant to conclude a legal battle over gas deliveries.
Naftogaz says Gazprom Must Be Part of new Russia
The head of Ukraine's Naftogaz on Thursday said EU-mediated talks over future Russian gas transits via the country to Europe must include Gazprom and must be based on firm commitments."For the success of the talks, it is important to have Gazprom in the room," Naftogaz chief Andriy Kobolev told Reuters. "I am struggling to understand what outcome we are trying to achieve because ...
Ukraine to Offer Gazprom Discounted Transit Fees
Ukraine will offer Gazprom discounted fees for natural gas transit to ensure a flow from Russia to Europe after 2020, European Commission Vice President for Energy Union Maros Sefcovic said on Friday.Russia's Gazprom and five European companies, with German backing, plan to build the North Stream 2 gas pipeline on the Baltic seabed to connect Russia directly with Germany, bypassing eastern Europe and limiting the flo
Gazprom to Start Talks on Abandoning Contracts with Naftogaz
Russia's Gazprom said on Wednesday it would start talks on abandoning current gas supply and transit contracts with Ukraine's Naftogaz in the coming days. Gazprom had received from Naftogaz the confirmation on readiness to start such talks, it said. Reporting and writing by Denis Pinchuk
New Gas Dispute Between Ukraine and Russia Begins
Russia's Gazprom refuses to restart supplies to Ukraine; Ukraine's Naftogaz demands compensation. Kiev and Moscow plunged into a new gas dispute on Thursday after Ukraine's Naftogaz demanded compensation for Gazprom's unexpected decision not to restart gas supplies. The row threatens to open a new front in a long-running legal battle between…
Naftogaz to Sign Gas Deals with Vattenfall, Trafigura
Ukraine's Naftogaz plans to sign natural gas purchase agreements with Trafigura Trading (Europe) Sarl and Vattenfall Energy Trading GmbH as it expands supply from Europe. Kiev has looked to diversify away from Russian energy imports since Russia's annexation of Crimea in 2014. Naftogaz plans to sign an framework agreement with Vattenfall…
Naftogaz asks for China Energy Loan Extension
Ukrainian state energy company Naftogaz has asked a Chinese state bank to extend the deadline by which Naftogaz must submit project proposals to qualify for a loan worth $3.5 billion, the chief executive of a Naftogaz subsidiary said on Monday. It is the latest twist in a long-running saga over a loan agreement that Ukraine, under a previous president, had signed with the China Development Bank (CDB) in 2012.
Naftogaz CEO says EU Should Block Nord Stream-2
The chief executive of Ukraine's state energy firm Naftogaz on Friday said the European Union should block the Nord Stream-2 gas pipeline as it would give Russia too much leverage over Germany, Poland and Slovakia. "There is an easy legal way (to stop it). The EU should apply the same logic like with South Stream, apply the Third Energy Package, then you can't build Nordstream 2.
Gazprom: Ukraine owes $5.3 bln for Unused Gas
Russian gas giant Gazprom said on Tuesday it had charged Ukrainian energy firm Naftogaz with a $5.3 billion bill for gas it did not buy under a take-or-pay clause. Gazprom said the bill related to supplies in the second to fourth quarters of last year and that Ukraine had to pay the bill within 10 days. Ukraine has not bought Russian gas since November 2015.
Gazprom Prepares Cold Reception for US Super-cooled Gas
Liquefied natural gas (LNG) from the United States is set to do battle in Europe but Russia's Gazprom is setting the stage, preparing a cold reception for the super-cooled gas set to cross the Atlantic. A weakened rouble has lowered Gazprom's production costs by a fifth while its profits on dollar-denominated gas sales to Europe last year doubled in rouble terms.
Resumption and pricing of Russian Gas Supplies depend on Ukraine
A resumption of Russia's gas supplies to Ukraine and pricing for the deliveries will depend on proposals put forward by the Ukrainian side, Russian news agency cited Russian Energy Minister Alexander Novak as saying on Sunday. On June 7, Russia's Gazprom said it had received a request from Ukraine's Naftogaz for gas supplies in the second half of the year.
Gazprom Claims against Ukraine Reach $31.76 bln
Russian gas giant Gazprom said on Tuesday its total claims in Stockholm arbitration against Ukraine's energy firm Naftogaz have increased to $31.76 billion. The Kremlin-controlled company said the new claims included $2.55 billion, which it said Ukraine had not paid as part of the "take-or-pay" clause for gas deliveries in third quarter 2015. Reporting by Jack Stubbs and Vladimir Soldatkin
Gazprom: Ukraine Owes $2.6 bln for 2015 Q3 Gas
Gazprom says Ukraine has to pay for 10.485 bcm; Kiev has refused to buy Russian gas. Russia's Gazprom said on Tuesday that Ukraine owes it $2.549 billion for gas in the third quarter of last year which should be paid off in the next 10 days, adding a new element to Moscow and Kiev's politically charged dispute over gas supplies. The new…
Ukraine Inks Gas Deal with European Suppliers
Ukrainian state energy firm Naftogaz has agreed to buy 1.7 billion cubic metres (bcm) of gas from European suppliers at a price of $188-$211 per thousand cubic metres, the company said in a statement on Thursday. Ukraine, which is still in a protracted gas pricing dispute with Russia, has been seeking to cover its needs with its own production and supplies from Europe.
