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Gazprom export

Company

Gas industry
Russia
North-West Federal District of the Russian Federation
Central Federal District of the Russian Federation
St. Petersburg
191023, pl. Ostrovsky, house 2A, Litera A


Top managers:
Burmistrova Elena Viktorovna
width=200px

Owners:
Gazprom - 100%

Content

Owners

+ Rosneft of the Tax Code

Main article: Gas exports from Russia

Gazprom Export LLC is a subsidiary of PJSC. Gazprom

Areas of activity

The main area of ​ ​ activity: the sale of natural gas outside the country - to non-CIS countries.

At the end of 2015, the company:

  • supplies "blue fuel" to more than 20 countries;
  • sells abroad gas condensate, oil, oil products, liquefied petroleum gases and other products of the oil and gas and petrochemical industry;
  • carries out gas marketing in new markets, optimization of export flows, analyzes and predicts gas market conditions;
  • participates in the development and implementation of investment gas and gas power projects of Gazprom Group in Russia and abroad;
  • ensures the purchase Gazprom of gas from Central to the Group's portfolio; Asia
  • actively participates in the development of cooperation with foreign partners.

2024: Growth in exports to Europe in the first half of the year by 26%

Europe still competes with China for the title of the main buyer of pipeline gas PJSC Gazprom. Gazprom's exports to Europe in the first half of 2024 grew by 26%.

The Russian gas producer is gradually increasing the volume of supplies to China.

2022

Export decline to 130 billion cubic meters of gas at a rate above 200 billion

Gazprom's exports in 2022 to all countries amounted to about 130 billion against the norm of 200-210 billion cubic meters.

For comparison, from 2004 to 2008, Gazprom's exports averaged 240 billion cubic meters, from 2009 to 2013 exports fell to 200 billion, from 2014 to 2021 it averaged 205-207 billion cubic meters. For Gazprom, the norm is over 200 billion in total exports in all directions.

Gazprom in 2022 exported 100.9 billion cubic meters of gas to key markets, the head of the company Alexey Miller said at the end of December 2022. This is the minimum figure since at least 2000, writes Bloomberg.

Sharp decline in exports to Europe

From January to November 22, 2022, Gazprom's total supplies to Europe collapsed by 53% YoY, and from the beginning of September, when Nord Stream was finally turned off, supplies collapsed 5 times relative to 2021 and 7 times below potential.

71 billion cubic meters have already been lost, by the end of December, losses will amount to another 13-14 billion cubic meters in comparison with 2021, i.e. for the year minus 85 billion supplies to Europe. If everything goes as it has been since September, then pipeline deliveries could amount to 30 billion cubic meters in 2023, compared with 150 billion in 2021 and 180-190 billion potential.

Accordingly, the gas war cut 120 billion cubic meters per year. How much is that?

The design capacity of Power of Siberia is 38 billion cubic meters per year, and in 2022 Gazprom, according to the current contract with the Chinese CNPC, must supply at least 15.6 billion cubic meters. The estimated volume of gas supplies to China from Gazprom may amount to about 17 billion cubic meters in 2022.

To compensate for the European direction, it is necessary to the current Power of Siberia for three more similar pipes and bring them to full capacity or increase deliveries to China 7 (SEVEN) times relative to the 2022 base, which is 70% higher than 2021 (17 billion in 2022 against 10.4 billion in 2021).

This is significant, so do not underestimate the scale of the drop in supply to Europe, Spydell Finance noted.

The court ordered the Finnish Gasum to pay Gazprom Export a debt of $300 million

The Arbitration Court in Stockholm ordered the Finnish Gasum to pay Gazprom Export a debt of more than €300 million ($311 million) for gas supplies.

The Stockholm arbitration recognized the decree of the President of Russia on payment for gas in rubles as force majeure under the contract, confirming the legality of the suspension of supplies.

"The Arbitration Court, among other things, ordered Gasum to pay Gazprom export debts of more than 300 million euros for gas supplies and in connection with the failure to fulfill the" take or pay "obligation, as well as interest for late payment," Gazprom said in a statement on November 17, 2022.

The arbitration also ordered the parties to continue contract negotiations to resolve the situation with further gas supplies.

Transfer of contracts with China and Turkey for partial payment in rubles and yuan

In September 2022, Gazprom said it would shift its gas supply contract to China to rubles and yuan from the euro, as the Kremlin steps up efforts to withdraw trade from currencies it considers "unfriendly" amid US and EU sanctions.

On September 6, 2022, the state-owned gas giant signed a supplemental agreement to an existing contract with China National Petroleum Corp. Payment will be made by 50% in rubles and 50% in yuan from the date of entry into force.

The gas giant also plans to transfer 25% of sales to Turkey to rubles.

Strong revenues from EU supplies despite 75% reduction in supply

Despite a sharp (about 75%) reduction in gas exports to Europe, by the end of May 2022, Gazprom still continues to earn at least 100 million euros per day on the EU.

Germany nationalizes Gazprom Germania and renames it SEFE

Main article: SEFE (Securing Energy for Europe, formerly Gazprom Germania)

Gazprom Group on March 31, 2022 ceased its participation in the German company Gazprom Germania GMBH and all its assets.

In early April, it became known that Gazprom Germania GmbH was transferred to the Federal Network Agency, the Minister of Economy of Germany said.

It was stated that the decision on the trusteeship of the German regulator was temporary, due to the need for energy supply.

The head of the Ministry of Economy of Germany was counting on the execution of contracts for the supply of gas from the Russian Federation after the nationalization of Russian assets.

Later in June 2022, the German government confiscated three liquefied gas tankers that belonged to Gazprom subsidiary Gazprom Germania.

The company was renamed SEFE (Securing Energy for Europe)

2020: Payment of the Polish PGNiG $1.5 billion by decision of the Stockholm arbitration

Gazprom Export, by decision of the Stockholm arbitration, transferred to the Polish company PGNiG an overpayment for gas supplied via the Yamal-Europe gas pipeline, the Russian company told reporters in July 2020.

PGNiG demanded to revise the cost of deliveries from November 1, 2014. The amount of compensation will be $1.5 billion.

"At the same time, PJSC Gazprom and Gazprom Export LLC continue to appeal against this decision of the arbitration tribunal in the prescribed manner. The transfer of funds does not entail damage to the position of PJSC Gazprom and Gazprom Export LLC during the appeal, "the company noted.

Stockholm arbitration ruled at the end of March. Contract between Gazprom and PGNiG for the supply of 9.8 billion cubic meters. m of gas per year was concluded in 1996 and is valid until 2022. As stated in PGNiG, the formula for the price of gas supplied by Gazprom has been changed to a more market one. The parties signed the corresponding addition to the contract in June this year.

2016: Export growth of 10% in the first 7 months

According to Gazprom, in the first seven months of 2016, Russian gas exports to foreign countries increased by 9.5 billion cubic meters, or 10.7% (compared to January - July 2015).

2015: Export of Russia 211.5 billion cubic meters - No. 1 in the world

In 2015, Russia sold 211.5 billion cubic meters of gas, becoming the largest exporter in the world. At the same time, Qatar is the leader in terms of liquefied natural gas (LNG) supplies (106.4 billion cubic meters).

The main Russian supplier is Gazprom, which has the monopoly right to export pipeline gas and sells LNG, competing with Novatek and Rosneft.

Europe remains the largest consumer of Russian gas.

In addition, Gazprom supplies LNG to Japan, South Korea, Taiwan, India and China.

According to the FCS, in 2015 Gazprom exported 185.5 billion cubic meters and earned $41.8 billion. This is 23.5% less than in 2014[1].

In 2015, European sales of Russian gas increased to 158.6 billion cubic meters.

1973: Exports to Europe 6.8 bcm

By 1973, European sales of Soviet gas reached 6.8 billion cubic meters.

1968: Contract with the Austrian OMV for export to Western Europe

In 1968, under a contract with the Austrian company OMV, exports to Western Europe began.

1940s: First gas export - Poland

The first gas supplies outside the USSR started in Poland in the mid-1940s.

Notes

  1. ↑ What you need to know about the export of Russian gas
Источник — «https://tadviser.com/index.php/Company:Gazprom_export»

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