EGF Gazprom Monitor, Issue 74, July 2017

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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

Key points:

  • Main story: Concerns over potential impact of US sanctions on Russian gas export pipeline projects: Nord Stream 2 and Turkish Stream
  • Gazprom and the EU:
    • Gazprom on the European market: Gazprom exports to Europe in H1 2017 increase by 12.3 percent year-on-year; Gazprom Export announces plans for new gas trading department; Gazprom agrees to lower gas price for Moldova, but questions remain over debts and transit after 2019
    • Gazprom in the Baltic region: GET Baltic electronic gas trading platform launches services across the Baltic region; Alexela is first Estonian client on the GET platform; Lithuanian LDT makes second purchase of LNG shipment from the United States; LDT signs gas supply contract with Latvian power generator Latvenergo
  • Nord Stream: German and EU Courts rule in favour of Gazprom that OPAL agreement can remain in force while the EU considers the legality of that agreement; Nord Stream 2 Environmental Impact Assessment (EIA) completed in Finland, while public consultations in Denmark remain ongoing
  • Southern Corridor: Gazprom and Botaş agree on financing onshore Turkish section of Turkish Stream; Gazprom dismisses reports that construction of the second line of Turkish Stream has begun
  • Ukraine: Gazprom and Naftogaz continue negotiations over monetary awards following arbitration ruling; Gazprom to appeal interim Stockholm award of $1.7bn in Naftogaz arbitration case
  • Asia: Gazprom and CNPC agree on schedule to launch Power of Siberia in December 2019
  • Other News: World"s first ice-breaking LNG tanker sets sail from Norway to South Korea via Northern Sea Route; Russian government approves OMV acquisition of 24.99 percent stake in Gazprom-controlled Severneftegazprom
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