News

RUSSIAN giant Gazprom and Namibian state oil company 
Namcor have agreed to establish a special purpose company to take a majority stake in the 
Kudu gas field to accelerate its progress to first production in 2014.

Russian gas behemoth Gazprom has doubled its gas imports from Azerbaijan to 3 million cubic meters a day as of March 5, the company said Tuesday.

Gazprom wants about $135 million from Lithuania to compensate for losses that it says were caused by the country changing a deal on heating prices, a statement from a plant owned by Gazprom said.

Norwegian driller Songa Offshore said its semi-submersible rig Songa Mercur has won a a contract with Gazprom unit Gazflot for exploration work off Sakhalin Island later this year.

Gasprom is steering the ’steady’ long-term development of the Astrakhan gas complex.

Russian monopoly Gazprom expects liquefied natural gas shipments to compete with rising output of shale gas in the US as the Russian producer aims to expand into the world’s biggest energy market.

China reached an initial agreement on pricing and supply for natural gas from Russia, energy chief Zhang Guobao said, the Xinhua news agency reported.

Russian monopoly Gazprom, an equal partner with Italy’s Eni SpA in the South Stream natural-gas pipeline project, may reduce its stake to allow Electricite de France to buy shares in the venture.

The Federal Anti-Monopoly Service has given shareholders of the bank Rossia permission to expand their business by merging it with the Gazprom-controlled lender Gazenergoprombank.

France's GDF Suez has signed a deal with Gazprom to take a 9 percent stake in the yet-to-be-built Nord Stream gas pipeline.

GAZPROM plans to deliver gas to energy-hungry China from 2015.

Gazprom on Friday detailed the concessions it was giving to its four largest customers, saying its long-term contracts would take into account the much-lower spot price for gas for only three years.

Germany, the biggest importer of Russian gas, cut its purchases from Russia's Gazprom by 17.5% last year, while exports to the UK were slashed by 65%.

Gazprom, concerned by Novatek's partnership with oil trader Gennady Timchenko, is considering swapping part of its stake in the company for 51 percent of Sibneftegaz, which it could then merge with Nortgaz and Purgaz to create a third major Russian gas producer.

Russian gas monopoly Gazprom paid $625 mln on Wednesday to acquire an additional 12.5% stake in Beltransgaz, bringing its total share in the Belarusian gas transport company to 50%.

Gazprom has agreed to supply some of Europe's gas at spot market prices in a bid to defend its shrinking market share.

A US subsidiary of Russian monopoly Gazprom won federal approval today to import liquefied natural gas into the US Mid-Atlantic region.

The operator of the Nord Stream gas pipeline project said on Thursday it had received approval from German authorities to connect the trans-Baltic pipeline to the European gas network.

Gazprom chief Alexey Miller was in Sofia on Tuesday for talks to speed up work on the Russian gas giant's South Stream gas pipeline project, Bulgarian officials said.

Just over 18 months ago, Russia was predicting a bright future for Gazprom, stating that its capitalization would
exceed $1 trillion by 2015 and its shares would be trading on the New York Stock Exchange.
Today, the story is very different.