Subscribe free to our newsletters via your




OIL AND GAS
European natural gas supplies at winter levels, Gazprom says
by Daniel J. Graeber
Moscow (UPI) Jun 27, 2013


Russia ready to use yuan or ruble for Chinese gas deals
Moscow (UPI) Jun 26, 2013 - The head of the accounting department at Russian energy company Gazprom says there's no risk in using either Chinese or Russian currencies for gas transactions.

"In regard to using the yuan or rubles in accounting, we are basically ready for that, we think that this is completely normal," Gazprom finance chief Andrei Kruglov said. "There are no risks for Gazprom, except for minor transaction expenses."

One Chinese yuan traded Thursday for 5.4 Russian rubles.

Russian Energy Minister Alexander Novak had said gas payments would be made in U.S. dollars. The Finance Ministry is considering switching to the ruble for export goods.

First deliveries from a 30-year contract signed between China and Russia in May would start with the delivery of 1.3 trillion cubic feet through a Russian gas pipeline to China as early as 2018.

Gazprom has sought entrance into the growing Asian market in an effort to diversify an asset base tied to a European economy still struggling to grow. Ongoing disputes over gas debt in Ukraine, which transports the bulk of Russian gas supplies to Europe, adds another layer of risk to Gazprom's consumer foundation.

European consumers serviced by Gazprom are getting natural gas at levels they'd normally get during the winter, the company's chief executive said Friday.

Gazprom CEO Alexei Miller said the volume of gas to Europe is more than sufficient to meet demands. Gazprom, he said, is helping address the shortage of natural gas extraction from European countries.

"We have been able take advantage of these circumstances, as we have enough resources and transportation capacity," he said Friday.

Gazprom meets about a quarter of the gas needs of the European market. Most of that runs through a Soviet-era gas transmission network in Ukraine.

The company said this week gas supplies were moving through Ukraine according to its contractual obligations. Earlier this month, Gazprom said it wouldn't send gas to Ukraine unless it was paid in advance.

Gazprom says Ukraine is billions of dollars in debt. Gas debt rows in 2006 and 2009 caused natural gas supply disruptions in Europe.

Gazprom is trying to add a layer of diversity to its transit options with its South Stream gas pipeline though southern Europe. European leaders have balked at the project and are moving on their own strategies to get gas from alternate suppliers in the Caspian region.

Natural gas moving through Ukraine, Russian energy company says
Moscow (UPI) Jun 26, 2013 - Russian energy company Gazprom said Thursday it's sent 9.7 billion cubic feet of natural gas through Ukraine within the last 24 hours.

Gazprom spokesman Sergei Kupriyanov said the amount of gas sent across Ukrainian territory was in line with the company's contract with Ukrainian energy company Naftogaz.

The amount of gas delivered through Ukraine has been consistent so far this week, the spokesman said. It's increased, however, from the 6.5 million cubic feet sent across Ukraine on June 18.

Gas shipments to Ukraine were halted June 16 when Gazprom said it needed to be paid in advance by its Ukrainian counterparts.

Gazprom meets about a quarter of the gas demands from Europe, though most of that runs through the Soviet-era transit network in Ukraine. Gazprom says it's owed billions of dollars in outstanding gas debt from Ukraine and similar rows in 2006 and 2009 resulted in gas shortages for Europe.

June meetings between Russian, Ukrainian and European authorities focused on settling the debt issue.

Gazprom says those negotiations are ongoing.

.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








OIL AND GAS
House passes measure they say would lower gasoline prices
Washington (UPI) Jun 27, 2013
The House of Representatives passed a measure it says would help lower gasoline prices by expanding access to domestic energy resources. H.R. 4899, the so-called Lowering Gasoline Prices to Fuel an America that Works Act, passed through the House in a 229-185 vote Thursday, largely along party lines. The bill's supporters said it would help U.S. consumers and small businesses who ... read more


OIL AND GAS
Malaysia gets new transport minister amid MH370 crisis

Surviving without money, German woman's year-long adventure

NY homeless angry at China tycoon 'publicity stunt'

Japan satellites to monitor Fukushima, Chernobyl

OIL AND GAS
Soyuz Rocket puts Russian GLONASS-M navigation satellite into orbit

Russia may join forces with China to compete with US, European satnavs

Russia Says GLONASS Accuracy Could Be Boosted to Two Feet

Northrop Grumman tapped for new miniature navigation system

OIL AND GAS
Advanced CLARITY Method Offers Faster, Better Views of Entire Brain

Humans have been changing Chinese environment for 3,000 years

Skulls with mix of Neandertal and primitive traits illuminate human evolution

Brain syncs blood flow to match activities

OIL AND GAS
Why Species Matter

Monarch butterfly uses magnetic, Sun compasses: study

In wild yak society, moms are the real climbers

Planet of the dying apes: experts sound alarm over shrinking habitats

OIL AND GAS
Mideast sees 'worrying' rise in HIV cases: UN

Blacklegged ticks frequently carry both lyme disease and babesiosis

Study reveals conditions linked to deadly bird flu and maps areas at risks

Science finds chink in superbug armour

OIL AND GAS
UN group urges release of Chinese dissident nephew

Heavy jail terms for Chinese anti-graft trio: lawyer

Washington moves toward 'Liu Xiaobo' street, defying China

Construction stopped on replica of ancient Chinese ship

OIL AND GAS
Malaysian navy foils pirate attack in South China Sea

NATO anti-piracy ops until 2016

Kidnapped Chinese, Filippino rescued in Malaysia

Chinese worker kidnapped in Malaysia's Borneo island

OIL AND GAS
China manufacturing growth pick up in June: govt

China housing prices fall for second month: survey

Former top China official charged with bribery

Bank of China approved for yuan clearing in Frankfurt




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.