Russian gas: Gazprom Bomb G Putin (Arte Thema)

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Re: Russian Gas: Gazprom Putin's Bomb G (Arte Thema)




by moinsdewatt » 09/01/20, 01:07

The TurkStream gas pipeline, supplying Turkey and Europe with Russian gas, inaugurated

AFP published on Jan 08, 2020

Turkish President Recep Tayyip Erdogan and his Russian counterpart Vladimir Putin officially inaugurated the TurkStream pipeline on Wednesday, which symbolizes their rapprochement and will transport gas extracted in Russia to Turkey and Europe.

During a ceremony with great fanfare in Istanbul, Erdogan described the opening of this gas pipeline, which will be able to transport 31,5 billion cubic meters of gas each year, as "a historic event for Turkish-Russian relations and the regional energy map ". "The partnership between Russia and Turkey is strengthening in all areas despite the efforts of those who oppose it," Putin said, according to the translation of his words into Turkish.

After their speeches, the two heads of state symbolically opened the valve to the gas pipeline, also called Turkish Stream. This infrastructure, whose construction began in 2017, symbolizes the spectacular rapprochement between Turkey and Russia, after a serious diplomatic crisis in 2015.

With this new gas pipeline, Turkey is securing the supply of its large energy-consuming cities in the west and establishing itself as a major energy hub. For Russia, it is a question of feeding southern and south-eastern Europe by bypassing Ukraine, initially the main country of transit of the gas delivered to Europe, but with which relations have deteriorated profoundly since the annexation of Crimea and the start of an armed conflict in the Russian-speaking east in 2014.

The pipeline is made up of two parallel pipes some 930 km long that connect Anapa in Russia to Kiyiköy in Turkey (north-west). TurkStream already started last week to supply Bulgaria, bordering Turkey, and is being extended towards Serbia and Hungary.

The pipeline's inauguration comes as tensions are building up in Libya and Syria, two countries where Ankara and Moscow have divergent interests. "With Russia, we have not let our recent differences of view take precedence over our common interests," Erdogan stressed.

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The President of Serbia, Aleksandar Vucic, and the Bulgarian Prime Minister, Boyko Borisov, also participate in the ceremony, alongside many other officials from these four countries.

Symbolically, the "floodgates" of the TurkStream gas pipeline will be open.


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Re: Russian Gas: Gazprom Putin's Bomb G (Arte Thema)




by moinsdewatt » 30/04/20, 00:19

Gazprom publishes its annual results, drop in volumes sold to Europe

AFP published on Apr. 29, 2020

The Russian giant Gazprom announced on Wednesday a drop in its net profit of 17% in 2019 compared to the previous year, weighed down in particular by a drop in volumes and prices of gas sold to Europe.

According to the results published Wednesday, the group controlled by the Russian state generated a net profit of 1 billion rubles (203 billion euros at the current rate) in 15 against 2019 billion rubles in 1, the year of European sales. record. Its operating profit also fell by 456% over one year to 2018 billion rubles (42 billion euros) and its turnover is down by 1% over a year to 120 billion rubles (14 billion euros).

After a record year 2018, the drop in 2019 in the results of the heir to the Soviet Gas Ministry stems in particular from a drop in volumes and prices of gas sold, in particular to European countries. Sales of gas to Europe and Turkey, which have always provided most of its profits, fell by 4% in volume to 232,4 billion cubic meters (against 243.3 billion in 2018), Les Ruble gas prices fell 12% over the year, while dollar prices lost 15%. In total, gas sales lost 2,7% in volume over one year to 506,9 billion cubic meters of gas.

The group said it plans to invest 1 trillion rubles in 600, which represents a decrease of 2020% over one year. Investments in geological exploration should nevertheless increase by a third over the year to 25 billion rubles, noted Interfax.

Gazprom's market share has tended to increase in recent years in Europe, reaching around a third of total consumption, despite tensions with the European Union, which says it wants to reduce its dependence on Russian gas. "Gazprom's share of the European market in 2019 was over 35%, and there is every chance of maintaining this figure," Russian Energy Minister Alexander Novak said on Tuesday.

On Monday, Gazprom vice-boss Vitaly Markov told Russian agencies to expect lower results this year because of "a drop in gas volumes" sold.


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Re: Russian Gas: Gazprom Putin's Bomb G (Arte Thema)




by moinsdewatt » 31/08/20, 23:17

Gazprom announces "decent" results in the first half

AFP published on August 31, 2020

Russian giant Gazprom on Monday announced a net profit divided by 25 in the first half over one year, linked to the global crisis triggered by the pandemic and historically low gas prices.

According to the results released on Monday, the Russian state-controlled group recorded a net profit of 32,9 billion rubles in the first half of 2020 (375 million euros at the current rate), compared to a profit of 836,5 billion rubles. rubles over the same period in 2019. Turnover for this period fell by almost a third to 2 billion rubles over one year.

Hydrocarbon producers around the world have been hit hard by the collapse in energy demand and prices, due to measures taken to combat the novel coronavirus pandemic, affecting the transport sector in particular. In Russia, corporate results are also affected by a devaluation of the ruble.

After a first quarter in the red, with a net loss of 116,2 billion rubles, the group recovered slightly in the second quarter, with a recorded net profit of 149,2 billion rubles. The results are mainly due to a drop in prices and volumes of gas sold to Europe, from which the group derives a large part of its income, the statement said. In volume, its sales were down 16% in the first half year on year, while revenues fell by almost half.

In an explanatory note, the vice-chairman of the management committee of Gazprom, Famil Sadigov, pointed to the "challenges" facing the oil industry, citing "a sharp drop in demand for energy resources", gas prices reaching "historically low" levels in Europe, and exchange rate volatility. “In these extreme conditions, Gazprom has posted decent financial results compared to many other oil and gas companies (thanks to) measures to optimize operating and capital expenses,” he said. He also indicates that the situation is already improving in the third quarter.

Gazprom recorded in 2019 a drop of 17% to 1 billion rubles in its net profit compared to 203, a year of all records.



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Re: Russian Gas: Gazprom Putin's Bomb G (Arte Thema)




by moinsdewatt » 28/11/20, 19:35

Russian giant Gazprom cuts investments for 2021

AFP released the 26 Nov 2020

The Russian giant Gazprom has announced investments for 2021 down compared to 2020, after having already considerably reduced the amount planned for this year, marked by the global crisis triggered by the Covid-19 pandemic.

In a statement released Thursday, Gazprom announced planned investments of 902,4 billion rubles (10 billion euros at the current rate) in 2021, 2,2% lower than in 2020 (922,5 billion rubles ). The group had already announced at the end of October an 18,3% drop in its investments for 2020 compared to the 1.104,7 billion rubles which had been announced in December 2019.

Hydrocarbon producers around the world have been hit hard by the collapse in energy demand and prices, due to measures taken to combat the novel coronavirus pandemic, affecting the transport sector in particular.

In Russia, corporate results are also affected by a devaluation of the ruble. Gazprom thus saw its net profit plunge to 32,9 billion rubles in the first half of 2020 (365 million euros at the current rate), against 836,5 billion rubles over the same period in 2019. These turbulences occur while Gazprom has invested heavily in recent years in colossal projects still underway.

Russia inaugurated the first Power of Siberia gas pipeline at the end of 2019, connecting the gas fields of eastern Siberia to the Chinese border. The Chinese section is still under construction and is expected to be completed in 2022-2023. The group also announced in May the start of feasibility studies for the Power of Siberia 2 project, which is to transport up to 50 billion cubic meters of Russian gas per year to China via Mongolia. Russia and Turkey also inaugurated the TurkStream gas pipeline in January, intended to supply Turkey and southern Europe with Russian gas via the Black Sea. A section of the latter is also still under construction.

The Nord Stream 2 gas pipeline between Russia and Germany, almost completed, is blocked by the threat of US sanctions.


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Re: Russian Gas: Gazprom Putin's Bomb G (Arte Thema)




by moinsdewatt » 15/02/21, 23:33

Natural gas: Gazprom's exports to Europe fell by 12,1% in 2020

AFP published on 15 Feb 2021

Russian gas giant Gazprom on Monday announced a drop in its exports to Europe in 2020, a year marked by a collapse in prices and demand for hydrocarbons due to the coronavirus pandemic.

Russian gas exports to Europe, in which Gazprom includes Turkey, fell 12,1% in 2020 year on year to 174,87 billion cubic meters, compared to 198,97 billion cubic meters in 2019. This However, the declining result surpasses the forecasts of Gazprom, which aimed to export 166,6 billion to Europe in 2020.

The Russian producer derives a large part of its income from its European exports, particularly to Western Europe. Its main consumer is Germany, whose supplies fell by 14% in 2020 over one year. Launched in December 2019, the Power of Siberia gas pipeline delivered 4,1 billion cubic meters of gas to China in 2020.

Demand for gas, like that of a large part of raw materials, was depressed in 2020 by the Covid-19 pandemic.

Gazprom's plans to increase sales to Europe have been thwarted by uncertainty over the near-completed Nord Stream 2 pipeline between Russia and Germany. The United States and several European countries such as Poland take a dim view of this new pipeline, believing that it will increase the dependence of Germany and the European Union on Russian gas and, in fine, from Moscow.


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Re: Russian Gas: Gazprom Putin's Bomb G (Arte Thema)




by moinsdewatt » 03/05/21, 16:02

Gazprom announces collapse of its net profit in 2020

AFP published on Apr. 29, 2021

Russian giant Gazprom on Thursday announced a collapse in its net profit in 2020 due to the Covid-19 crisis which has weighed on energy demand and prices as well as ruble prices.

The Russian state-controlled group posted a net profit of 135 billion rubles (1,496 billion euros at the current rate) in 2020, almost nine times lower than the 1 billion rubles in 203. The figure of business is down 2019% year on year to 17,4 billion rubles (6.321 billion euros).

In the whole of the hydrocarbon sector in the world, the year 2020 was marked by a collapse in prices and demand for energy due to the measures taken to combat the coronavirus pandemic, affecting in particular the transport sector. .

In Russia, corporate results were also hit by a devaluation of the ruble, which lost about a third of its value against Western currencies in 2020.

Thus, Russian gas exports to Europe, in which Gazprom includes Turkey, fell 12,1% in 2020 year on year to 174,87 billion cubic meters. Gas prices have fallen by around a third.

The Russian producer derives a large part of its income from its European exports, particularly to Western Europe. Its main consumer is Germany, whose supplies fell by 14% in 2020 over one year. The group's share of gas consumed in Europe stood at 32,2% in 2020.

It should also be noted that sales of liquefied natural gas (LNG) have doubled to 7,4 million tonnes, particularly to India but also for the first time to France.

In a presentation to investors broadcast online, Gazprom boss Alexeï Miller said that despite a difficult year, the group had ensured uninterrupted production, fulfilled all its obligations and maintained its position in the market.

In 2020, Gazprom's plans to increase sales to Europe were thwarted by uncertainty over the near-completed Nord Stream 2 pipeline between Russia and Germany.

The United States and several European countries such as Poland take a dim view of this new pipeline, believing that it will increase the dependence of Germany and the European Union on Russian gas and, in fine, from Moscow.

In 2021, the group expects revenue growth of 16% year on year to 7.346 billion rubles. Gazprom also expects a 5% increase in exports to Europe to 183 billion cubic meters.


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Re: Russian Gas: Gazprom Putin's Bomb G (Arte Thema)




by moinsdewatt » 29/05/21, 23:27

Russian giant Gazprom regained health in the first quarter

AFP published on May 28, 2021

Russian giant Gazprom has regained its health with the announcement Friday of a net profit of 447 billion rubles (5 billion euros at current rate) in the first quarter.

Over the same period a year earlier, the Russian state-controlled group had suffered losses of 116 billion rubles, hit hard by the onset of the Covid-19 health crisis, coupled with an oil crisis. Between January and March, Gazprom thus recorded more than three times the profit for the whole of 2020.

The turnover for the first quarter for its part increased by more than 1% year on year to 30 billion rubles. Gas exports to Europe - from which Gazprom derives most of its revenue - increased by more than 2% in volume to 285 billion cubic meters, while average prices in rubles also increased by more than a third over a year.

In the whole of the hydrocarbon sector, the year 2020 was marked by a collapse in prices and demand for energy due to the measures taken to combat the coronavirus pandemic, affecting in particular the transport sector. This crisis was compounded from March 2020 by an oil price war, with Russia and Saudi Arabia turning on the taps and causing a historic collapse in prices, before returning to normal following a reduction agreement. of OPEC + production.

In 2021, the group expects revenue growth of 16% year on year to 7.346 billion rubles. Gazprom also expects a 5% increase in exports to Europe to 183 billion cubic meters.

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Re: Russian Gas: Gazprom Putin's Bomb G (Arte Thema)




by moinsdewatt » 31/08/21, 01:32

Gazprom: net profit more than tripled over one year, the price of gas to the skies

AFP published on August 30, 2021

Russian giant Gazprom on Monday announced net profit of 521,2 billion rubles (6 billion euros at current rate) in the second quarter, a result that more than tripled over one year, driven by rising prices.

Between April and June, the group controlled by the Russian state has also recorded a turnover doubled over one year, to 2.067 billion rubles.

Between January and June, Gazprom pointed out that gas prices for exports to Europe had increased by 53% year-on-year to $ 208 per 1.000 cubic meters on average.

In volume, exports to Europe - which provide the bulk of Gazprom's revenues - increased 23% over one year in the first half, to 120,6 billion cubic meters.

In the whole of the hydrocarbon sector, the year 2020 was marked by a collapse in prices and demand for energy due to the measures taken to combat the coronavirus pandemic, affecting in particular the transport sector.

This crisis was compounded from March 2020 by an oil price war, with Russia and Saudi Arabia turning on the taps and causing a historic collapse in prices, before returning to normal following a reduction agreement. of OPEC + production.

In recent months, gas prices in Europe have steadily increased in the face of increased demand and lower than usual storage levels, causing concerns for the coming winter. On Monday, they reached an all-time high by exceeding 600 dollars for 1.000 cubic meters, according to the TASS agency.

It comes as Russia curtailed supplies this summer, deciding to ship far less than usual gas through Ukraine.

In August, one of Russia's main gas pipelines to Germany, the Yamal-Europe, only operated at reduced capacity after a fire at a gas processing plant, a problem now resolved.

Some observers accuse Moscow of stepping up the pressure and of remaining deaf to European demands to increase deliveries pending the commissioning of the controversial Nord Stream 2 gas pipeline.


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Re: Russian Gas: Gazprom Putin's Bomb G (Arte Thema)




by izentrop » 31/08/21, 22:54

Detailed thread on Europe's energy dependence on Russia:

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Re: Russian Gas: Gazprom Putin's Bomb G (Arte Thema)




by moinsdewatt » 02/01/22, 23:44

Russian giant Gazprom posts record profits amid gas crisis

AFP released the 29 Nov 2021

Russian giant Gazprom on Monday announced a record third quarter net profit, amid the gas crisis in Europe due to exceptionally low inventories which contributed to record prices.

Gazprom's net profit was 581,8 billion rubles (6,8 billion euros at current rate) in the third quarter, compared to a loss of 251,3 billion in the same, according to the results released on Monday. period last year.

Gazprom's revenues from July to September are up 70% year on year to 2,37 trillion rubles (27,8 billion euros), a record also.

"Gazprom continued to post solid results, once again achieving a record financial performance", welcomed in a statement Famil Sadigov, vice-chairman of the management committee of the group controlled by the Russian state.

He cited "the obvious impact of the situation on export markets" and said to expect in the fourth quarter "even more impressive results in view of the current trend".

Europe, a third of whose gas comes from Russia, has been facing soaring gas prices for months, against a backdrop of rising demand due to the economic recovery with the improvement of the epidemic situation linked to Covid-19 .

Gas stocks were eroded by a prolonged winter in 2020 and not sufficiently filled since. In addition, there is a reduced contribution of renewable energies, such as wind power, for meteorological reasons.

Some countries have blamed the rise in prices in part on Moscow in order to speed up the commissioning of the controversial Nord Stream 2 gas pipeline. Russia denies and in return calls into question European decisions.

According to Moscow, the EU has in recent years favored purchases on the spot market, subject to price fluctuations, rather than signing long-term contracts with Gazprom.


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