Gazprom

As the year draws to a close, earnings from Russia’s most valuable company, Gazprom PJSC, are forecast to fall nearly 40% from 2022 levels to around $24.3 billion. State-owned Gazprom, also the country’s top natural gas producer, recently disclosed its earnings have continued to fall as it navigates the fallout of Western sanctions, lower global…

Future prospects for Russia’s largest natural gas producer, Gazprom PJSC, are challenging as it works to outpace both foreign sanctions and domestic competition from independent firms. Unhappy over the Kremlin granting an LNG export license to Russia’s second largest natural gas producer, PAO Novatek, Gazprom told Russian regulator’s the Murmansk liquified natural gas project would…

Citing fallout from the war in Ukraine, Russian natural gas behemoth Gazprom PJSC said its net income for the first half of 2023 plummeted.  The steep drop came after Russia cut off most exports to Europe last year after it invaded Ukraine. The continent has also reduced its reliance on Russian natural gas, turning instead…

Despite holding the world’s second largest natural gas reserves and having Russia as a new partner, Iran faces challenges to revive one of its three LNG export projects. Iran, the world’s third largest gas producer, shares the giant North Dome/South Pars field with Qatar, but it has fallen far behind in developing its reserves to…

Russia aims to nearly triple LNG exports to 100 million metric tons/year (mmty) by 2030 by expanding the list of natural gas fields allowed to export the super-chilled fuel, Prime Minister Mikhail Mishustin said in a televised government meeting earlier this month. Draft amendments aimed at achieving that goal would “legally free up reserves for…

Russian natural gas exports to foreign markets dropped nearly 46% year/year in 2022, when they were impacted by a steep decline in deliveries to Europe, according to Gazprom PJSC. Exports, including those to China via the Power of Siberia Pipeline, dropped to 100.9 billion cubic meters (Bcm) last year, or about 3.6 Tcf. That’s compared…

Russia will allow natural gas buyers to pay debts for delivered supplies in currencies other than the ruble after a decree from President Vladimir Putin.

Russia is turning to Turkey as a potential natural gas hub partner with a new sense of urgency to find new export outlets for volumes left stranded by damages to the Nord Stream pipelines in September.  But any hub would likely face political, financial and supply issues that are compounded by the Kremlin’s war in…

Global commodities trader Trafigura Group Pte. Ltd. has secured a $3 billion loan backed by the German government to help secure more natural gas for the country.  Trafigura would supply the gas to Germany’s Securing Energy for Europe (Sefe), a former Gazprom PJSC unit that the country nationalized and recapitalized earlier this year. The first…