Russia’s biggest gas utility, Gazprom, was hit with an antitrust case by European Union regulators for “abusing” its dominant position and overcharging customers for gas supplies. The investigation against the Gazprom has been ongoing for two years.
Russia’s gas giant Gazprom said in a release on Monday it had signed a deal with Eni, Wintershall and EDF on the purchase of 50% of shares in South Stream Transport BV. Thus, Gazprom will be a 100% owner of the company.
Argentina's state-run energy company YPF admitted on Wednesday having held promising meetings with Russia's Gazpron to consider different collaboration and business opportunities, “but so far has not signed any Memorandum of Understanding, MOU or agreement”.
President Cristina Fernandez confirmed Russia’s interest in investing in Argentina's Vaca Muerta shale formation in Patagonia and announced that a Russian delegation will travel soon to the area, which holds one of the largest shale gas and oil reserves of the world.
A major gas deal between Russia and China was finally sealed this week when Russian President Vladimir Putin was on a two day visit to China on May 20-21 and met with President Xi Jinping. In the lead up to Putin's arrival, the two sides have been working on putting the finishing touches on a 30-year contract for a gas deal a decade in the making, and Russian officials have suggested that the deal will be completed by Putin's arrival.
By John C.K. Daly - Amidst the deepening war of words over Moscow's annexation of Crimea, U.S. President Barack Obama on April 28 added more Russian individuals and companies to a sanctions list that already included influential members of Russian President Vladimir Putin's inner circle and Bank Rossiya, which has close ties to the Russian leadership.
Russian President Vladimir Putin said he doesn't think the European community can do without the natural gas it gets from energy monopoly Gazprom. With a Russian economy starting to decline, however, it may be Gazprom that's too strongly interconnected to the European market to break free.
Argentina's state oil company YPF announced this week that it had signed a memorandum of understanding (MOU) with a subsidiary of Malaysia's national oil company Petronas for unconventional oil and gas resources development in Argentine Patagonia.
Gazprom has started producing oil from the Prirazlomnoye field, which is the first Russian project for developing the Arctic shelf and the commencement of their large-scale activities aimed at creating a large hydrocarbon production center in the region, according to the company.
Russia’s Gazprom will buy a 20% stake in Total SA’s gas fields in Bolivia. Total will retain 60% ownership in the fields, while a unit of Argentina’s Techint Group holds 20”, announced Bolivia’s Energy minister Juan Jose Sosa.