EGF Gazprom Monitor, Issue 37, June 2014

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A Snapshot of Key Developments in the External Relations of the Russian Gas Sector
By Jack Sharples, EGF Associate Researcher on the external dimensions of Russian gas

Key points:

  • Lithuania"s competition authority fines Gazprom $48m for "failing to comply with merger conditions" in relation to its shareholding in Lietuvos Dujos, thus stifling competition in Lithuania"s gas market
  • Gazprom sells its stakes in Lietuvos Dujos and Amber Grid
  • European gas companies negotiated an average discount of 20 percent in 2013-14, according to Cedigaz
  • Gazprom implements prepayment in Ukraine, meaning that Naftogaz will only receive gas for which it has already paid. Given that Naftogaz failed to pay up front for its June gas supplies, the practical result was the suspension of Gazprom deliveries to Naftogaz
  • Bulgaria halts construction of South Stream, pending EU concerns over the tender process for its construction on Bulgarian territory
  • Gazprom and OMV confirm Austria"s entry into the South Stream project
  • Gazprom expects $25bn pre-payment in China gas deal, but terms yet to be finalised
  • Rosneft claims that a Gazprom monopoly on domestic pipelines in the Russian Far East would be illegal, and promises legal action to secure its right to supply Russian consumers in the region
  • Results of Gazprom's Annual General Meeting of Shareholders

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