print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all GAZPROM press releases

GAZPROM

March 22, 2011

Gazprom to continue cooperating with Ukraine in key areas

The Board of Directors took note of the information relevant to the Russian-Ukrainian gas relationships and the prospects for cooperation with Ukraine.

It was highlighted that Ukraine was a strategic partner of Gazprom. It transits nearly 70 per cent of Russian gas to Europe – 94.6 billion cubic meters in 2010. Ukraine is the largest sales market for the Company: in 2010 Gazprom supplied it with 36.5 billion cubic meters of gas. Represented by its subsidiary company Gazprom sbyt Ukraine, Gazprom operates in the Ukrainian end consumer market. According to the 2010 results, the Company furnished Ukraine's industrial companies with 3.24 billion cubic meters of gas. The work is underway to set up a joint venture between Gazprom and Naftogaz Ukrainy for coalbed methane production.

In addition, the meeting stressed that the long-standing track record of cooperation between Russia and Ukraine in the gas sector and historical links of the two counties' gas transmission systems created a favorable environment for further deepening of the large-scale and long-term partnership for the mutual benefit, including the business integration of Gazprom and Naftogaz Ukrainy.

The Gazprom Management Committee was tasked to continue interacting with Ukraine under the effective long-term contracts for gas purchase, sale and transit, operations in the Ukrainian market as well as setting up joint ventures for hydrocarbons production.

 

Background:

On January 19, 2009 Gazprom and NAK Naftogaz Ukrainy signed two separate contracts:

- purchase and sale contract for the period from 2009 through to 2019;

- contract on volumes, terms and conditions of natural gas transit across Ukraine for the period from 2009 through to 2019.

On April 21, 2010 Gazprom and Naftogaz Ukrainy signed addenda to the above mentioned contracts.

On April 3, 2008 Gazprom sbyt Ukraine, a wholly-owned subsidiary of Gazprom, was registered in Ukraine. The company deals with gas supplies to Ukraine's industrial consumers.

On April 30, 2010, following the results of the Sochi meeting of the Economic Cooperation Committee under the Russian-Ukrainian Interstate Commission, Russian Prime Minister Vladimir Putin made a proposal that Gazprom and NAK Naftogaz Ukrainy should merge.

On December 1, 2010 Alexey Miller, Chairman of the Gazprom Management Committee and Yury Boiko, Ukrainian Fuel and Energy Minister agreed to set up two joint ventures: for coalbed gas production in Ukraine and for the Palasa structure development offshore the Black Sea.

On December 21, 2010 Gazprom and Naftogaz Ukrainy signed the Memorandum on setting up a joint venture for coalbed methane production.

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer