Russia

On July 1, Norilsk Nickel’s Board of Directors to discuss termination of its participation in Interregional Distribution Grid Company of Siberia

On Monday, June 1, the Norilsk Nickel’s Board of Directors will consider issue on termination of participation in Interregional Distribution Grid Company of Siberia, the company reports.
The agenda also includes issue on transaction of alienation of ordinary personal uncertificated shares of Interregional Distribution Grid Company of Siberia by Norilsk Nickel.

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Lukoil awaits the start of industrial production at Western Kurna-2 in the beginning of 2014

Lukoil awaits the start of industrial production at Western Kurna-2 in the beginning of 2014, the chief of the company V. Alekperov says. They have started production drilling at the deposit. Earlier the company awaited first oil production in Iraq in the end of 2013. Last year Lukoil performed successful negotiations with the Iraqi Government and achieved considerable improve of the project’s economy. Inner profitability norm exceeded 15%. The company is going to achieve the needed production level in 2019, and production at the peak will be 60 million tons annually.

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Gazprom may pay dividends in the amount of 6-8 rubles per share for 2013

Gazprom may pay dividends in the amount of 6-8 rubles per share for 2013, the holding company’s presentation says.

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TMK Pipes holds an annual general meeting of shareholders

TMK Pipes reports that the annual general meeting of the company’s shareholders took place in Moscow on June 25, 2013.
The meeting approved an annual accounting and annual financial statements by results of the financial year-2012, elected Board of Directors and revision commission and approved interested party transactions. The company Ernst&Young was approved as auditor of TMK Pipes.

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Gazprom awaits additional benefits for Prirazlomnoye and Kirinskoye deposits

Gazprom regards it reasonable and necessary to grant a zero mineral tax rate for Prirazlomnoye before 2022, the CFO of Gazprom A. Kruglov says. As for Kirinskoye, Gazprom awaits the granting of zero export duty  for 25 years as an additional tax benefit for improving of the project’s profitability.

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Rosneft to have a small reserve concerning share of the Russian market for acquisition of assets

The FAS’ Head, Igor Artemiev believes that Rosneft has a reserves in regard to the Russian market share for acquisition of new assets.
“They have 35% (the market share), and 38-39% of the diesel fuel market, and we always permit to have up to 50% They have a reserves, but small,” – Artemiev said, commented on the situation with Rosneft’s share at the market.

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Transneft awaits slight worsening of oil quality due to growth in supplies to China

Transneft forecasts slight a worsening of oil quality in the pipeline system due to realization by Rosneft of the project for enlargement of supplies to China, the Vice President of Transneft,  I. Katsal said at the 11th Russian oil and gas congress.

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Russia decides against expensive gas

The government has rejected parity of internal and external gas prices. The hastened growth of prices in the RF was supposed to increase the profits of Gazprom, though reduce  theprofitability of  industry. However,the increase of gas prices affected Gazprom itself and the monopoly started losing the pricing competition with independent producers, Kommersant reports.

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Gazprom to negotiate on the possible decrease of the gas price for Armenia

Gazprom negotiates on the possible decrease of the gas price for Armenia, the official representative of the Russian gas holding company Sergei Kupriyanov reported.
“Indeed, prices have increased and we negotiate how we can reduce them. Now we understand how we can come to lower prices,” – Kupriyanov said.

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In 2018, Gazprom to launch two LNG plants

The Gazprom’s CEO Alexei Miller has held a meeting on issues of implementation of perspective projects on production of LNG – LNG plants in Primorye and the Leningrad region, the company’s Information Department reported.
It was noted that the Vladivostok-LNG project with capacity of not less than 15 million tons per year, which first line will start to work in 2018, developed in accordance with the schedule. Today the special purpose company Gazprom LNG Vladivostok is created for the project implementation. The general designer of the LNG plant was determined – VNIPIgazdobycha. A technical design assignment is prepared.

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