EGF Gazprom Monitor, Issue 39, August 2014

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:

• EU antitrust investigation into Gazprom — victim of the deterioration in EU-Russia relations?
• Nord Stream — Russian sources report imminent ruling from European Commission on OPAL pipeline
• South Stream — Bulgaria halts work on South Stream for a second time. Or does it?; Srbijagas announces that work is proceeding as scheduled, despite last month"s warning from the EU that the project should be halted
• Gazprom and Ukraine — Ukrainian Energy Ministry proposes "interim" agreement with Gazprom, pending results of arbitration; Naftogaz opens pipeline from Slovakia; Ukrainian parliament votes to allow leasing of gas transmission system; Naftogaz returns $10m of "unused" transit fees to Gazprom
• Asia-Pacific region — Gazprom launches construction of "Power of Siberia" gas pipeline to China
• Gazprom takes delivery of its fifth LNG tanker, brings fleet capacity to 800,000 m3; Gazprom gas production in 2014 expected to fall vs. 2013