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Gazprom says Nord Stream 2 'past point of no return'
June 29, 2019

Gazprom says Nord Stream 2 'past point of no return'

Russia’s natural gas giant, Gazprom has said that despite the threat of US sanctions, work at the controversial Nord Stream 2 pipeline will continue since the pipeline is "past the point of no return". The $12-billion Nord Stream 2 will amplify Russian gas shipments to the EU's biggest economy, Germany. The final major hurdle in the way of Nord Stream 2 is obtaining approval from Denmark.

Gazprom’s quarterly net profits upturn by 44%
May 31, 2019

Gazprom’s quarterly net profits upturn by 44%

Despite a decrease in export volumes, the Russian gas producer Gazprom, has reported an increased net income in the January-March quarter. A 44% hike in the quarterly net profits has been observed whereby, the quarterly revenue rose to 2.29 trillion roubles from 2.14 trillion in the previous year. Higher sales and prices of gas are instrumental for this upturn.

Gazprom to go with Linde and Shell's technology for Baltic project
May 16, 2019

Gazprom to go with Linde and Shell's technology for Baltic project

Baltic LNG project of Gazprom is under progress and the Russian gas producer was looking for advanced technology to be used in it. Now, the firm has decided to go with the technology made by Linde or Royal Dutch Shell. "We've looked at the efficiency of both technologies and they basically have the same indicators in terms of workability. The rest is a question of negotiation", said Gazprom's board member.

Shell to exit Baltic LNG project
April 11, 2019

Shell to exit Baltic LNG project

Energy major, Royal Dutch Shell has decided to leave a Baltic LNG project which is led by Russia's Gazprom. This will pose a challenge for the Russian state gas major to take forward this project with limited access to Shell's technology and no funds from the Anglo-Dutch company. Shell has taken this decision after witnessing the struggle of Western firms to expand because of the pressure of US sanctions.

Schlumberger and Gazprom sign agreement for technological cooperation
March 26, 2019
Source: World Oil

Schlumberger and Gazprom sign agreement for technological cooperation

World’s largest oilfield services company, Schlumberger has inked an agreement with Russian state-run Gazprom Neft for technological cooperation in well logging. The two sides will join forces to integrate the latest logging technologies into the expert geophysics company. The oilfield services giant will offer engineering support to its partners and train staff of the operating units of the company.

Gazprom to go ahead with its LNG bunkering plan
Dec. 27, 2018

Gazprom to go ahead with its LNG bunkering plan

The Board of Directors of Russia’s Gazprom have agreed on the company’s LNG bunkering plan. The company will continue its work of developing infrastructure to produce and market LNG as a marine fuel. A group statement stated “Gazprom continues to build the LNG production, storage and shipment complex near the Portovaya compressor station. It is planned to use the plant’s output to, inter alia, bunker marine vessels in Russia.”

Gazprom signs MoU with Itochu
Dec. 15, 2018
Source: World Oil

Gazprom signs MoU with Itochu

Russian gas giant, Gazprom has signed a Memorandum of Understanding (MoU) with Japan’s Itochu Corporation on the Baltic LNG project. Chairman of the Gazprom Management Committee and CEO, Itochu Corporation held a working meeting in St. Petersburg. With this agreement, Gazprom and Itochu have confirmed their interest in potential collaboration in the framework of the project.

Gazprom up for digital revolution
Nov. 27, 2018
Source: World Oil

Gazprom up for digital revolution

Focusing on digital transformation, Gazprom Neft has decided on improving the efficiency of oil business processes through it. The board of directors of the company have reviewed and approved on the use of innovative digital technologies for the same. Gazprom is developing its strategy for the digital transformation of business, the first stage of which is expected to finish by 2022.

Technical Partners at Eastern Economic Forum
Sept. 13, 2018
Source: Oil Voice

Technical Partners at Eastern Economic Forum

In order to develop and embrace new technologies to increase oil recovery, Russia’s Gazprom Neft and China National Petroleum Corporation (CNPC) have come together as technical partners at the Eastern Economic Forum. The objective of the partnership also includes developing advanced techniques for polymer and surfactant flooding. The first step in the process would be a feasibility study for surfactant flooding which will take place at the Sutorminskoye field.

Gazprom reports surge in profit for second quarter
Aug. 30, 2018

Gazprom reports surge in profit for second quarter

Gazprom, gas giant of Russia announced its Q2 report. The company’s profit surged and jumped to $3.8 billion. The numbers of the company beat all the expectations of the analysts. Gazprom gained profits from the increasing fuel prices. The shares of gas major increased by 1.1%. Gazprom has shipped over 101 billion cubic meters of natural gas to EU and accounted for 34% share in the gas market of Europe.

Gazprom’s discussion with Yamalo-Nenets
July 14, 2018

Gazprom’s discussion with Yamalo-Nenets

Chairman of the Management Committee of PJSC Gazprom recently met with acting Governor of Yamalo-Nenets autonomous area to discuss the key priorities of cooperation. The parties affirmed their commitment towards the continuation of constructive and mutually beneficial cooperation between the company and the regional government. 90% of Gazprom gas is produced from the fields of Yamalo-Nenets, and the area has seen RUB 884.7 billion investment in the last 5 years.

Gazprom joins hands with IBM for new technology
June 7, 2018
Source: Compelo

Gazprom joins hands with IBM for new technology

After Skolkovo Institute, Russian-Gazprom NEFT has now reached an agreement with tech giant IBM for the development of new technologies in onshore oil production. The new technology will be used to boost the efficiency of geological exploration and production of onshore reserves. The expanded cooperation is within the framework of an agreement made on strategic cooperation between Gazprom and IBM during this year’s St. Petersburg International Economic Forum.

First Russian LNG cargo arrives in India
June 6, 2018
Source: Livemint

First Russian LNG cargo arrives in India

A 3.4 TBtu cargo of Russian LNG reached India at its Dahej LNG terminal in Gujarat, the day before yesterday. GAIL recently renegotiated with Gazprom about the terms of the 20-year deal to import 2.5 million tones/year of LNG. India received its first cargo of US LNG a few weeks back. India Petroleum Minister, Dharmendra Pradhan sees the LNG import from Russia adding a new dimension to Indo-Russian bilateral relations!

First Russian LNG cargo ships to India
June 4, 2018

First Russian LNG cargo ships to India

The first ever cargo of Russian LNG is on its way to India and will reach the Petronet terminal today. The import comes in line with GAIL’s renegotiation with Gazprom about the terms of the 20-year deal to import 2.5 million tonnes a year of LNG. India received its first cargo of US LNG a few weeks back. The price indexation has been changed from the Japan customs-cleared crude to Brent.

New gas plant will not need more than USD 5 bn capex: Gazprom
May 2, 2018

New gas plant will not need more than USD 5 bn capex: Gazprom

Gazprom, the Russian gas giant, has said that not more than $ 5 billion capex is required for the construction of a gas processing complex near the Baltic Sea. Moreover, the firm will allocate a pipeline capacity of 45 billion cubic meters per year for the project.

Achimgaz achieves new production milestone
April 26, 2018
Source: World Oil

Achimgaz achieves new production milestone

Achimgaz, a German-Russian joint venture of Wintershall and Gazprom, has set a new benchmark, with total production reaching 30 Bcm of natural gas. Moreover, the company has produced more than 13 million tons of gas condensate, till date. The record figures reflect that developing difficult hydrocarbon deposits like the Achimov horizon can be successful and profitable.

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