Changes in the Board of Rosneft

The Government plans new changes in the State controlled companies. The President of VTB, A. Kostin, will quit the Board of Rosneft. He will be replaced by the Vice-President of the Russian Academy of Sciences, N. Laverov, who unlike A. Kostin won’t contradict the approval of the company’s management structure. Simultaneously the chairmen are leaving the state companies – the deputy Minister of Energy, S. Kudryashov, will quit the Board of Rosneftegas, that holds the major package of Rosneft. He will be replaced by the major shareholder of Itera, O. Makarov. Read more »

The main route of South Stream not to go to Austria but to the North of Italy

Gazprom OAO has determined the route of the South Stream – the main route of the gas pipeline will go not to Austria, that actively promotes Nabucco, but to the North of Italy, Moscow News writes on Wednesday referring to a source close to the Russian gas holding. According to the interlocutor, the Russian concern has determined the route of the gas pipeline on the territory of Europe in September- after the signing in Sochi of the shareholders agreement on the construction of the sea part of South Stream. Read more »

Japanese companies may join Sakhalin-3

Russia and Japan plan to conclude an agreement in the area of energy cooperation in the next few years, in particular, the joining of Japan to Sakhlin-3 project is possible, a top source in the Japan government said.
Gazprom stated earlier that is did not plan the attraction of foreign companies into the project.
translated by Iraida Idiyatova Read more »

IsDB to grant Lukoil with $200 million for Khauzak-Shady site development in Uzbekistan

Islamic Development Bank (IsDB) will grant Lukoil before the end of 2011with funds and guarantees for commercial risks for a total sum of $200 million for enlargement of production at the Khauzak-Shady site in Uzbekistan. A governmental representative says that before the end of 2011 IsDB is going to join the consortium of the project's creditors granting funds at a rate of $100 million and guarantees for commercial risks of $100 million. Read more »

Gazprom does asset exchange with Wintershall

Gazprom has signed an asset swap agreement with shareholder of the German Wintershall, BASF concern. The Russian party will provide Wintershall with access to two blocks of Urengoy deposits in exchange for entering Wintershall extraction projects in the North Sea. Gazprom and Wintershall are already experienced in joint extraction in the North Sea as well as at Urengoy deposit, however these extraction volumes were insignificant in scale of Gazprom. Read more »

Third German company obtains a gas discount from Gazprom

A new client of Gazprom in Germany – Verbundnetz Gas (VNG AG) – has gained a gas discount from the monopoly. The company is one of the largest gas suppliers in Eastern Germany and Gazprom holds 10.5% of its shares. However, analysts note, the monopoly remains very selective, thus EU will keep criticizing it for extremely high prices. Read more »

Russia. Japan wants to participate in Sakhalin-3

Japan addressed Russia with a request to participate in the new project on the development of natural gas near Sakhalin. The Minister of Foreign Affairs of Japan, Kōichirō Genba asked about it to the Minister of Industry and Trade of Russia V.Khristenko during their meeting in Tokyo on Monday. Sakhalin-3 considers oil and natural gas production near the island in the Russian Far East. Japanese companies hope to join the project. Read more »

China interested in Kovykta

CNPC is interested in participation in development of the Kovykta and Chayandy deposits. Their reserves are correspondently 1.5 trillion cubic m of gas and at least 1.3 trillion cubic m of gas. The company is interested as well in the project of the construction of a pipeline from Russia to South Korea. Last week the representatives of the Chinese power sector negotiated with Gazprom. The Russian concerns seems to 'have given a sign' at the negotiations that it's ready to discuss gas supplies via the Eastern route. Later the official representative of Gazprom S. Read more »

Gazprom is ready to consider a possibility of extra supplies of LNG to Japan

There was held a working meeting of the chairman of the Board of Management A.Miller and CEO of Mitsui M.Iidzima. The parties discussed possible directions of cooperation, focused on the restoration of a stable energy supply to Japan.
The participants of the meeting agreed that above-target liquefied natural gas volumes, delivered by Gazprom, has a significant meaning for the stabilization of energy supply of the country, the press-service of the Russian company states. A.Miller said that Gazprom is ready to consider the possibility of extra LNG supply keeping to Japan, if it is required. Read more »

Sibur and Belneftekhim to prepare a strategical cooperation contract

Sibur Holding CJSC and Belneftekhim concern (Byelorussia) will prepare contracts about the strategic partnership and concrete directions and forms of cooperation. All the corresponding agreements were reached at working meeting of members of Sibur and Belneftekhim Boards, Sibur reports. The companies will cooperate in the deliveries of raw hydrocarbons and possible production of different types of polymeric products at the territory of Byelorussia as well as marketing of mineral fertilizers. Read more »

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