‘ Vladimir Putin Intervenes Between Gazprom and Rosneft Over Access to Trans-Sakhalin Pipeline’

#AceFinanceNews – MOSCOW – July 16 – Russian President Vladimir Putin has interfered in a conflict between gas giant Gazprom and oil major Rosneft on access to the trans-Sakhalin pipeline, ordering to work out the possibility of handing the pipe to the state, which could mean permission for Rosneft to use it, business daily Kommersant reported on Wednesday citing sources.

 

Last week Putin ordered the government to work out the transition of the infrastructure of projects developed under the production sharing agreement to the Federal State Property Management Agency. These projects are Sakhalin-1, Sakhalin-2 and the development of the Kharyaginskoye field, the sources said.

 

In this case Rosneft will get access to the pipeline to pump gas from its future liquefied natural gas plant, which Gazprom refused to give, saying that there is no free capacity. Rosneft wants 8 billion cubic meters of capacity out of the pipeline’s 18.6 billion cubic meter capacity.

 

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` Vladimir Putin Voices Hope for Settling Ukraine’s Debt ‘

#AceFinanceNews – MOSCOW – May 28  – Russian President Vladimir Putin has voiced hope for settling a dispute with Ukraine that could cut off Russian gas supplies to Europe.

In televised remarks at Wednesday’s Cabinet session, Putin signalled that Russia could negotiate new terms for gas shipments to Ukraine if it pays off part of its debt.

Energy Minister Alexander Novak reported at the session that Ukraine must pay $2 billion before Friday and another $500 million before June 7. Once Ukraine makes the first payment, Russia could negotiate a price discount for future supplies, he said.

Moscow has ratcheted up pressure on Ukraine after its pro-Russian president was chased from power in February after months of protests. Since then, Russia annexed Ukraine’s Crimean peninsula and a pro-Russia insurgency has engulfed eastern Ukraine.

Moscow Times

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Gazprom/CNPC Agreement: ` Ink Barely Dry on the Paper and Gas Holding’s Stocks Rocket by 20% ‘

#AceFinanceNews – MOSCOW – May 21 – Russian gas monopoly Gazprom will get $25 billion in prepayment from the Chinese National Petroleum Corporation (CNPC) to be allocated for the Sila Sibiri (Power of Siberia) pipeline under the gas supply deal, a source close to Gazprom told ITAR-TASS.

Supplies of Russias Natural Gas

 The amount is similar to the earlier announced cost of the pipeline with an annual capacity of up to 38 billion cubic metres.

Construction would start as soon as the contract is signed, said Gazprom’s CEO Aleksey Miller. Gas should first be sold – this is the formula Gazprom had always stuck to, he said.

The companies signed the 30-year contract for gas supplies worth $40 billion to China via the eastern route pipeline on Wednesday.

Miller described the deal as Gazprom’s so far major gas contract but declined to reveal the gas price referring to commercial confidentiality.

The document granted the sides preferential tax regimes, he added.

Russian President Vladimir Putin told journalists in Shanghai works would start on the next day after the deal, as the sides would start to work on the western route for supplies from Western Siberia.

No strong growth in Gazprom stocks is to be expected over the short-term as the contract with China had already been priced in.

The gas holding’s stocks have already rocketed more than 20% from the local low of 122.8 rubles ($3.559 exchange rate fixed at May 21) per stock on April 28 to 149 rubles ($4.3) on Tuesday.

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` Gazprom Getting Ready to Sign 30 Year Gas Contract with China ‘

#AceFinanceNews – RUSSIA/CHINA – May 19  – Russia and China are set to sign a long-awaited 30-year gas contract during a two-day meeting, when Russian President Vladimir Putin visits Shanghai on May 20-21.

Gazprom

Gazprom, Russia’s largest natural gas producer, and China National Petroleum Corporation (CNPC) are set to sign a gas deal that will send 38 billion cubic meters of natural gas a year eastward to China’s burgeoning economy, starting in 2018.

The timing is almost flawless as Russia is looking to shield itself from Western sanctions by pivoting towards Asia, and China desperately needs to switch from dirty coal to more environmentally friendly natural gas.

“The arrangements on export of Russian natural gas to China have nearly been finalized. Their implementation will help Russia to diversify pipeline routes for natural gas supply, and our Chinese partners to alleviate the concerns related to energy deficit and environmental security through the use of ‘clean’ fuel,” President Vladimir Putin said.

The deal has been on the table for over 10 years, as Moscow and Beijing have negotiated back and forth over price, the gas pipeline route, and possible Chinese stakes in Russian projects. The gas price is expected to be agreed at between $350-400 per thousand cubic meters.

The deal has been on the table for over 10 years, as Moscow and Beijing have negotiated back and forth over price, the gas pipeline route, and possible Chinese stakes in Russian projects.

The gas price is expected to be agreed at between $350-400 per thousand cubic meters.

” Of course Russia wants to sell gas and resources at the highest possible prices. But because of the sanctions from European partners, we need to find a partner that can buy our gas long-term, which is why at the moment China looks very attractive to us,” Aleksandr Prosviryakov, a partner at Lakeshore International, a Moscow-based asset management firm, told RT at a Confederation of Asia Pacific Chambers of Commerce and Industry (CACCI) in Moscow ahead of the big meeting on Tuesday.

On Sunday, Gazprom chief Aleksey Miller sat down with his CNPC counterpart, Zhou Jiping, in Beijing to discuss final details, including price formulas.

 

Russia-China-Oil-Pipeline

But the sticking point is how to finish the pipeline from Russia to China.

Currently there is one complete gas pipeline that runs throughout Russia to the Chinese border, “Siberian Power” which Gazprom broke ground on in 2007, three years after Gazprom and CNPC signed a strategic cooperation agreement in 2004.

The pipeline stretches across Russia’s Far East and after extension to China, it will deliver gas to the country’s populous north, near Beijing.

“Now is the time for Russia to compromise a little bit so that they can lessen their dependence on Western Europe as a buyer of Russian gas. Diversification is a strategy for Russia to have good long-term business relationships with both Europe and China,” Benedicto Yujuico, president of the Confederation of Asia-Pacific Chambers of Commerce and Industry, told RT at an Asian business gathering in Moscow on Wednesday. 

 

A record amount of agreements are expected to be signed at the working meeting between Russia and China. Already 30 out of the 43 prepared agreements are expected to be inked, according to presidential aide Yury Ushakov, as reported by RIA Novosti. 

 

http://tinyurl.com/lscg22h

http://tinyurl.com/lscg22h

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` IMF : Pressures mounts to give `Green Light’ to an `Aid Program ‘ for Kiev ‘

#AceFinanceNews says that the `International Monetary Fund‘ is under increasing pressure from all sides to give the green light to an aid program for Kiev, even as it risks its own credibility in doing so.

President Putin visits Ukraine and Prime Minis...

President Putin visits Ukraine and Prime Minister of Ukraine Viktor Yanukovych. (Photo credit: Wikipedia)

A team of IMF experts landed in Ukraine on Monday to launch discussions with the authorities, dissecting the economy’s problems and shaping an aid plan, even as the new government struggles with the threat of Russia in Crimea and says it needs “at least” $15 billion.

An IMF loan does not appear to be imminent but the expectation is heavy. On Sunday, finance ministers from the seven leading industrial powers — the G8 minus Russia — emphasized that the IMF is “best prepared” to lead a support program for the country.

The United States, the country with the biggest voice in the IMF, has repeatedly said the Fund should be at the heart of any rescue program.

Europe, also holding a strong voting position in the Fund, has the same view.

“No member state will move without the IMF evaluating Ukraine’s financial needs,” a European source said Monday.

The IMF said last week it was ready to respond to an official Ukraine request for help, just days after a new government took power in Kiev following the ouster of pro-Russian president Viktor Yanukovych.

But the IMF also has its strict operating rules and it must be careful not to offend some member states which have reproached it for having at times given in to Western pressures.

Under its internal rules, the IMF can only lend to a borrower in exchange for implementing austerity policies and a “viable” plan that would take the country’s public finances to the point that it will be able to repay.

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#Russia : “Vladimir Putin has Recommended Official’s `Optimise’ the `Funds’ Allocated for `Press’ Coverage”

#AceFinanceNews says Putin orders governors to slash PR budgets

Published time: January 20, 2014 10:57
Russian President Vladimir Putin (RIA Novosti / Mihail Metzel)

Russian President Vladimir Putin (RIA Novosti / Mihail Metzel)

The Russian president has recommended officials ‘optimize’ the funds allocated for press coverage of their work after mass media uncovered unprecedented growth in such spending in regional budgets.

The presidential order to optimize PR budgets must be fulfilled before February 1, reads the document published on the official Kremlin website. The Finance Ministry was made responsible for overseeing the process.

Putin’s order came after a whole series of controversies emerged a short time after a scandal in the central Russian Saratov Region. In December last year, the pro-Putin political movement United People’s Front officially complained to the president that the governor of the remote Far East province of Sakhalin planned to spend 680 million rubles (over $20 million) of budget funds on “improving his image” in just three years.

Putin expressed surprise over the news, but the Sakhalin public servants quickly justified the move, explaining that the huge sum was to be spent on “improvement of the state governing system” as a whole and actual “reporting on the activities of state power bodies” only required 50 million rubles (about $1.5 million).

Still, after the United People’s Front’s move the problem has come to the attention of both the authorities – who are currently looking for any opportunity to cut expenditures in the face of a looming budget deficit – and the media.

The head of the presidential administration, Sergey Ivanov, has called for regional officials to stop “fooling the people” by reporting about all governors’ actions and Prime Minister Dmitry Medvedev has urged greater independence for regional mass media, including the switch from budget financing to self-accounting.

Popular internet news site Slon.ru has published a research report made by an expert of the Fiscal Politics Center, who claimed that although the expenditures on mass media amounted to about 1 or 2 percent of the regional budgets, they continued to grow even when budgetary income began to decrease – sometimes several-fold, such as in the Sverdlovsk Region (264 percent growth in 2013 compared to 2012) and in the Astrakhan Region (528 percent).

Such a trend can be explained, at least in part, by the political reform of 2013 that reinstated direct elections for heads of federation subjects, who were previously appointed by the president and only required formal approval from regional legislatures.

Federal parliamentarians and top officials have claimed that the changes would give more legitimacy to regional leaders and also give the political system a new impetus for development.

The first nationwide election day under the new rules took place on September 8, 2013.

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