Gazprom Demands Discounts from Russian Pipemakers
Gas giant Gazprom is demanding big discounts from Russian pipeline suppliers for its major projects, industry sources told Reuters, following the emergence of a producer charging significantly lower prices. In a move likely to shake up the pipe and metals sectors, the Kremlin-controlled Gazprom is seeking the discounts - put by the sources at 20 percent - as it tries to limit investment spending that is due to peak in the next two years. Gazprom is involved in three international gas pipeline projects.
Gazprom, Pipe Producers Integrate Innovations
The meeting was attended by the Deputy Chairmen of the Company's Management Committee Vitaly Markelov and Andrey Kruglov, the Management Committee Members Oleg Aksyutin, Vyacheslav Mikhalenko, and Vsevolod Cherepanov, as well as the top managers of the Pipe Producers Association, United Metallurgical Company (OMK), TMK, Chelyabinsk Pipe Rolling Plant (ChelPipe), Severstal, and other companies. It was recorded that as of today, 11 projects have been completed…
Another blast at Severstal's mine in Arctic
Russia's Emergency Ministry said on Tuesday that another explosion had occurred in a coal mine inside the Arctic Circle where 26 died last week, but this time no one was hurt, Russian news agencies reported. "There were no people in the mine," TASS news agency cited the ministry as saying. It was the sixth explosion at the Severnaya mine, operated by Vorkutaugol, a subsidiary of Severstal, since the Feb. 25 blast that killed the trapped miners. (Reporting by Lidia Kelly; Editing by Kevin Liffey)
Miners Trapped after Accident in Russia's Arctic Pronounced Dead
The 26 miners who were trapped in a Russian coal mine above the Arctic circle have died and rescue operations have been halted after a third blast underground killed several rescue workers, emergency services said on Sunday. The miners were trapped on Thursday after a sudden leak of methane gas caused two blasts that led parts of the Severnaya mine in Vorkuta to collapse. President Vladimir Putin ordered a government commission to be set up to look into the incident at the mine operated by Vorkutaugol, a subsidiary of Severstal.
Gazprom Delays Link to Turkish Gas Line
Gazprom has told pipeline makers to suspend deliveries of pipes for expanding Russia's network to be connected to the proposed Turkish Stream project, an industry source said on Monday. The delay is another snag in Moscow's plans to build a gas pipeline via the Black Sea to Turkey, and on to south Europe in order to bypass Ukraine. "We've got a note (from Gazprom) to suspend deliveries," the source in the pipeline making industry told Reuters.
ArcelorMittal Selling Sole Russian Asset
ArcelorMittal, the world's largest steel producer, is selling its sole asset in Russia, a Siberian coal-mining operation, documents from the federal anti-monopoly service (FAS) showed. The steel giant is selling Severny Kuzbass (North Kuzbass), which operates two coal mines in the south west of Siberia, to private coal trader National Fuel Company, according to documents posted on the FAS website on Friday. ArcelorMittal declined to comment on Monday. The FAS did not specify the value of the deal, or any reason for the sale.
South Stream Cancellation Means Anxious Wait for Pipemakers
Russia's decision to scrap the South Stream natural gas pipeline to Europe has left pipeline makers from Japan to Germany awaiting the fate of deals worth 1.8 billion euros ($2.24 billion). Their hopes are pinned on an alternative pipeline that President Vladimir Putin has proposed building to Turkey instead of South Stream's planned route across the Black Sea to Bulgaria. "If the new pipeline to Turkey is given the green light, the pipeline makers won't lose anything ...
Russian Officials at Odds over Mechel Bailout
The head of Russia's state development bank has ruled out taking part in a rescue of ailing miner Mechel, possibly making a rival government-promoted debt-for-equity deal involving creditors a more likely option to save the company. Russia has been looking into ways to help Mechel, a coal-to-steel group with $8.6 billion in debt and 70,000 workers, for several months and has proposed two schemes, both involving a change in ownership.
Severstal Sells PBS Coals to Corsa Coal
Russia's Severstal has agreed to sell Pennsylvania-based metallurgical coal producer PBS Coals to Canada's Corsa Coal for an enterprise value of $140 million, the Russian company said on Tuesday. Corsa Coal operates U.S.-based coal mines. Its Wilson Creek metallurgical coal operations are also based in Pennsylvania, while the Kopper Glo thermal coal operations are based in Tennessee. "For Severstal with its current asset portfolio, PBS…
Russia's Severstal sells US-based PBS Coals to Canada's Corsa Coal
Russia's Severstal has agreed to sell Pennsylvania-based coal producer PBS Coals to Canada's Corsa Coal for an enterprise value of $140 million, the Russian company said on Tuesday. The deal is expected to be completed by mid-August, it said in a statement. Reporting by Svetlana Burmistrova
First Pipe Produced for South Stream’s Offshore Section
Pipe No.1 for the first line of South Stream's offshore section was produced today in Russia at the Vyksa Steel Works (part of the United Metallurgical Company – OMK), Gazprom said in a news release. Unique pipes for South Stream's offshore section are 12 meters long, 813 millimeters in diameter and have a wall thickness of 39 millimeters. These pipes made of SAWL 450 steel are designed for the super-high operating pressure of 28.45 MPa.
