EGF Gazprom Monitor, Issue 48, May 2015

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A Snapshot of Key Developments in the External Relations of the Russian Gas Sector
By Dr Jack Sharples, EGF Associate Researcher on the external dimensions of Russian gas and Lecturer in Energy Politics at the European University of St Petersburg

  • Gazprom and the EU: PGNiG files a lawsuit in Stockholm arbitration court, seeks renegotiation of gas price formula; British energy company, Centrica, increases gas imports from Gazprom and Statoil
  • Turkish Stream: Gazprom claims that Turkish Stream offshore construction will begin in first half of June 2015, and first gas supplies will be delivered by end of 2016; Greek government expresses support for all aspects of "Turkish Stream" — except for the name, of course
  • Ukraine: A curious mixture of threats and promises in the Gazprom-Naftogaz relationship:
    o Gazprom continues to provide gas to Naftogaz under pre-payment conditions, in line with extension of the "Winter Package";
    o Naftogaz increases imports of Russian gas, benefits from continuation of discount and oil-indexed prices;
    o Gazprom agrees not to implement financial penalties for Naftogaz"s failure to meet its take-or-pay commitments during the winter package;
    o Naftogaz submits its Statement of Claim in its gas transit arbitration case against Gazprom — seeks $10bn in addition to its $6bn claim relating to "overpayment" for gas supplies;
    o Gazprom CEO claims that company is seeking $29bn in its arbitration case with Naftogaz;
    o The Antimonopoly Committee of Ukraine launches its own investigation into Gazprom
    o Naftogaz begins stockpiling gas for the winter, but Gazprom express concerns that it is not storing enough to ensure a winter of risk-free gas transit
  • Belarus: Gazprom Transgaz Belarus promotes development of natural gas powered vehicles at Belarusian Industrial Forum, supported by the Belarusian President
  • China: Russian President ratifies Intergovernmental Agreement with China on gas supplies via the eastern route, as Gazprom and CNPC sign Heads of Agreement of gas supplies via the western (Altai) route

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