Gazprom

Natural gas prices in Europe on Monday slumped to their lowest level since Russia invaded Ukraine in February as weak demand and the steady arrival of liquefied natural gas (LNG) cargoes have combined to weigh down benchmarks.  Storage inventories are filling rapidly as the continent races to displace Russian supplies. Inventories were at about 43%…

Finland’s state-owned energy company Gasum said Friday that Russia would soon cut off the country’s main source of natural gas supplies, forcing it to find alternatives. Russia’s Gazprom PJSC informed the company that it would stop delivering natural gas supplies to Finland beginning Saturday (May 21). Gazprom said it was halting exports to the country…

A roundup of news and commentary from NGI’s LNG Insight Russia’s Deputy Prime Minister said Thursday about half of Gazprom PJSC’s clients have opened two bank accounts to facilitate ruble payments for natural gas deliveries. European natural gas prices fell Thursday after fears eased over noncompliance and the possibility of Russia shutting off supplies to…

The Group of Seven (G7) nations has pledged to end imports of Russian oil as part of a broader acceleration of Western sanctions intended to debilitate the Kremlin’s ability to finance its invasion of Ukraine. “We commit to phase out our dependency on Russian energy, including by phasing out or banning the import of Russian…

Poland was receiving more natural gas supplies from Germany on Thursday, while Bulgaria was receiving supplies from Turkey. The flows were making up for lost volumes from Gazprom PJSC, which cut off supplies to Poland and Bulgaria this week for failing to comply with Russia’s demand for a new payment method.

Leaders of Baltic nations and their partners in the regional gas market have been increasingly signaling an end to Russian gas imports in support of a besieged Ukraine, but one of the area’s gas importers is raising red flags. A/S Latvijas Gāze, a Latvian importer and trader of natural gas, released a statement April 13…

Gazprom PJSC said Friday it has sent notifications to certain customers requiring payments for natural gas be made in rubles. The state-owned company, Russia’s largest natural gas producer, said on the messaging service Telegram that it was complying with a decree from President Vladimir Putin requiring “unfriendly countries” in Europe to pay in rubles after…

Russian state-owned Gazprom PJSC’s latest 30-year supply deal with China National Petroleum Corp. (CNPC) for 10 billion cubic meters (Bcm) per year via a new pipeline, the Far Eastern route, could eventually increase Russia’s capacity to China by 48 Bcm/year and impact China’s future demand for liquefied natural gas (LNG). The deal comes at a…

Gazprom PJSC said in a report to Russian President Vladimir Putin last week that it continues to fulfill all contractual obligations for shipping natural gas to Europe, which has been desperate for the fuel this winter.  “As usual, Gazprom has been providing reliable gas supplies to our consumers in Russia and abroad,” said Gazprom’s Alexey…