Key Developments: Gazprom OAO (GAZP.MM)

GAZP.MM on Moscow Interbank Currency Exchange

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Latest Key Developments (Source: Significant Developments)

Russian government gives Gazprom OAO, NK Rosneft' OAO subsoil usage rights for Barents Sea, Sea of Okhotsk sections-Interfax
Monday, 8 Sep 2014 03:26am EDT 

Gazprom OAO:Russian Prime Minister Dmitry Medvedev has signed an order to give Gazprom and Rosneft usage rights at subsoil sections of the Barents Sea and the Sea of Okhotsk, the Russian government said in a statement-Interfax."The signed order adds to the list of subsoil plots of federal significance provided for use without auctions, which includes the Northwestern mineral resource section located in the Barents Sea, and Deryuginsky subsurface area located in the Sea of Okhotsk," the statement says.The order says that usage rights for the Northwestern mineral resource section, which covers 8,861.4 square kilometers, are being issued to Gazprom, while Rosneft is receiving rights to the Deryuginsky subsurface area (2,507 square kilometers)."The sections are being issued for exploration and extraction, as well as for geological surveying, exploration and production under a combined license," the statement says.  Full Article

Gazprom OAO begins building Power of Siberia gas pipeline-Interfax
Monday, 1 Sep 2014 05:08am EDT 

Gazprom OAO:Gazprom has begun building the Power of Siberia gas pipeline, an Interfax correspondent reported from the opening ceremony-Interfax.Welding the first joint took place near the Us Khatyn suburb at kilometer 18 of the Namsky tract in the Yakutsk vicinity.The Power of Siberia gas pipeline is meant to supply gas from Yakutia and Irkutsk to the domestic market.Gas will also be exported to China via the pipeline.In May of this year, after ten years of difficult negotiations, Gazprom signed a contract on gas supplies to China via the eastern route: for 30 years, at 38 billion cubic meters a year.On May 23, an order was signed to begin Gazprom's investment projects concerning gas shipments to China.In addition, a full plan of action was approved.  Full Article

Gazprom OAO lowers production target for 2014-Interfax
Thursday, 14 Aug 2014 12:18am EDT 

Gazprom OAO:Gazprom is planning to produce 463 billion cubic meters (bcm) of gas in 2014 in comparison with 487.4 bcm produced in 2013, the company said in a financial report to Russian Accounting Standards (RAS) for Q2 2014-Interfax.It was reported earlier that Gazprom was planning to produce 496.4 bcm in 2014.However, based on Jan.-July 2014, Gazprom was already 13.6 bcm down on last year.According to Interfax calculations, for 2014, Gazprom's output could shrink to around 460 bcm, which is the lowest level this century.The previous low was 461.5 bcm in 2009.  Full Article

Gazprom OAO seeks to recover $744 million from Moldovagaz-Interfax
Wednesday, 13 Aug 2014 07:49am EDT 

Gazprom OAO:In Feb. Gazprom filed a claim to the International Commercial Arbitration Court at the RF Chamber of Commerce to recover from Moldovagaz debt for gas supplied in 2011, in the amount of $743.8 million-Interfax.According to the company's report, the ICAC has not set the date of hearing yet.Gazprom owns 50 percent in Moldovagaz.Gazprom won a similar case at the ICAC for a debt of $485 million for gas deliveries in 2010.  Full Article

NK Rosneft' OAO acquires Pritaimyrsky hydrocarbon section in Laptev Sea, Gazprom OAO Kheisovsky section in Barents Sea-Interfax
Thursday, 7 Aug 2014 03:39am EDT 

NK Rosneft' OAO:The Russian government has provided two strategic offshore hydrocarbon sections to Rosneft and Gazprom on a no-bid basis-Interfax.Gazprom has received the license to explore and produce hydrocarbons at the Kheisovsky section in the Barents Sea for a one-time payment of 1.071 billion rubles and Rosneft has received the license to Pritaimyrsky section in the Laptev Sea for 398.648 million rubles.Kheisovsky section had a forecast resource (2D) totaling 393.7 million tonnes (geological resource) and 118.1 million tonnes (recoverable) for oil, 2.081 trillion cubic meters for gas and 32.6 million tonnes (geological) and 22.8 million tonnes (recoverable) for gas condensate, as of Jan. 1, 2009.The 20,619-square km Pritaimyrsky section has a 2D resource totaling 348.6 million tonnes (geological resource) and 104.6 million tonnes (recoverable) for oil and 362.8 billion cubic meters for gas, as of Jan. 1, 2009.Gazprom and Rosneft are eligible to receive licenses to strategic offshore deposits because they have experience in offshore projects and are companies in which the state owns over 50 percent of shares.  Full Article

Fitch affirms Gazprom OAO BBB rating, outlook negative-Interfax
Tuesday, 29 Jul 2014 04:22am EDT 

Gazprom OAO:Fitch Ratings has approved its long-term foreign and local currency issuer default rating IDR of BBB with negative outlook issued to Gazprom-Interfax.The priority unsecured credit ratings in foreign currency were affirmed at BBB, the short-term forex IDR at F3 and long-term national-scale rating at AAA(rus) with negative outlook.  Full Article

Gazprom OAO, Centragas to liquidate RosUkrEnergo-Interfax
Friday, 25 Jul 2014 06:36am EDT 

Gazprom OAO:Gazprom and Dmitro Firtash's Centragas Holding AG (Austria) have decided to liquidate Switzerland-registered RosUkrEnergo AG (RUE), which for a number of a years served as the intermediary for deliveries of Russian gas to Ukraine and the EU-Interfax.The decision to liquidate RUE was approved on July 10, according to an announcement from the company in the Swiss press.The Gazprom board of directors examined the issue of "coordinating Gazprom's position concerning the vote of its representative in the RUE's executive bodies concerning its liquidation" at a meeting on June 17.RUE was founded on a 50-50 basis by Gazprom and Centragas Holding AG in the summer of 2004.It was the monopoly supplier of natural gas to Ukraine in 2006-2008.  Full Article

Gazprom OAO sets up companies in Russia, Netherlands-Interfax
Wednesday, 23 Jul 2014 01:26am EDT 

Gazprom OAO:Gazprom has set up several new companies, the names of which indicate that they are associated with the structuring of a deal to exchange assets with BASF/Wintershall-Interfax.In Russia, Gazprom has set up CJSC Achim Sbyt, which was first registered on June 24, the SPARK-Interfax database shows.The company's core business is wholesale trade of fuel, and it is also involved in wholesale trade of oil, hydrocarbon logistics, shipment by rail, transportation by pipeline and storage of gas, as well as management consulting and audit.The company's shareholders are Gazprom with 67.51 pct, as well as three Netherlands-based firms, Gazprom Achim BV (14.48 pct), Gazprom Export Achim BV (12.46 pct) and Gazprom EP International BV (5.54 pct).Gazprom Achim and Gazprom Export Achim were also registered this year, the Netherlands' Trade Register shows.  Full Article

Moody's confirms ratings of Gazprom OAO, NK Rosneft' OAO and Gazprom neft' OAO
Tuesday, 1 Jul 2014 09:55am EDT 

Gazprom OAO:Moody's Investors Service has confirmed the Baa1 ratings of the Government-related Issuers (GRI) Gazprom OAO (Gazprom) and NK Rosneft' OAO (Rosneft), and the Baa1 ratings of their respective guaranteed debt-issuing subsidiaries.Concurrently, Moody's has confirmed the Baa2 ratings of Gazprom neft' OAO, a subsidiary of Gazprom, and the Baa1 ratings of Rosneft International Holdings Limited (RIHL), a subsidiary of Rosneft, and the respective ratings of their guaranteed debt-issuing subsidiaries.The outlook on all ratings is negative.Gazprom's Prime-2 short-term rating remains unchanged.These rating actions follow Moody's confirmation of Russia's Baa1 government bond rating and assignment of a negative outlook on June 27.The confirmation of Gazprom's and Rosneft's senior unsecured issuer ratings reflects Moody's view that the companies' ratings are closely aligned with that of the sovereign, and that they remain sensitive to changes in sovereign creditworthiness.The confirmation of Gazprom Neft's Baa2 and RIHL's Baa1 senior unsecured issuer ratings reflects these companies' close operating and financial linkage with their respective parents' ratings.  Full Article

Gazprom OAO announces organizational changes-Interfax
Thursday, 26 Jun 2014 02:06am EDT 

Gazprom OAO:Gazprom will transfer 100 percent of shares in CJSC Gazprom Zarubezhneftegaz to the balance sheet of its Dutch subsidiary Gazprom EP International BV, according to a decision approved by the Russian gas giant's board of directors-Interfax.Gazprom said that Gazprom EP International will pay for the asset with its own new shares worth 250.633 million Russian rubles in line with an appraisal by Deloitte & Touche CIS.In addition, the Federal Anti-Monopoly Service said that it has approved LLC Gazprom Gazomotornoye Toplivo's purchase of OJSC Moscow Gas Processing Plant.Gazprom bought 100 percent of shares in the plant last year from Rosneftegaz for 340 million rubles.  Full Article

Gazprom says Ukraine's unpaid gas bill tops $5 billion

MOSCOW - Russian natural gas exporter Gazprom said on Thursday that Ukraine's outstanding debt for gas supplies stood at $5.3 billion as of Aug. 1 and called on Kiev to ensure that gas continues to transit without disruption to Europe.

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