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Gazprom PAO (GAZP.MM)

GAZP.MM on Moscow Interbank Currency Exchange

134.09RUB
28 Sep 2016
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Latest Key Developments (Source: Significant Developments)

Gazprom PAO sets final coupon on CHF500m November 2018 bond at 3.375% - Reuters
Wednesday, 16 Mar 2016 04:08am EDT 

Russia's Gazprom PAO has set the final coupon on a CHF500m November 2018 bond at 3.375%, according to a deal lead - Reuters:This compares to an initial level of 3.625% area and revised price talk of 3.50% area.Order books for the deal close at 12:15 CET.Deutsche Bank, Gazprombank and UBS are running the transaction, which is expected to price early Wednesday afternoon.Gazprom is rated Ba1 by Moody's, BB+ by Standard & Poor's and BBB- by Fitch, all with a negative outlook.  Full Article

Gazprom PAO gets 2 bln euro loan from Bank of China - Reuters
Thursday, 3 Mar 2016 02:46am EST 

Gazprom PAO:Says has borrowed 2 billion euros from Bank of China's London branch, the largest-ever direct loan the company has raised from one lender - Reuters.The duration of the loan, the first for Gazprom from a Chinese bank, is five years. It did not disclose the purpose.Gazprom has tried to diversify fund raising by tapping Asian markets as Moscow pivots to the East amid chilling relation with the West over Russia's involvement in the Ukraine crisis.Kremlin-controlled Gazprom signed a deal in 2014 to supply 38 billion cubic metres of gas per year to China later this decade. But the project faces problems, including plunging commodity prices and China's cooling economy, sources have said.Capital expenditure for the project is estimated at 168 billion roubles for this year alone. The project cost was initially $55 billion.  Full Article

Gazprom PAO's Medvedev, EU's Vestager to hold antitrust settlement talks next week -sources - Reuters
Wednesday, 2 Mar 2016 03:21am EST 

Gazprom PAO:Gazprom's deputy chief executive will meet the EU competition chief next week, three people familiar with the matter said on Wednesday, signalling progress in resolving antitrust charges against the Russian gas giant without a regulatory fine - RTRS.The Russian state-controlled company is fighting accusations of overcharging customers and blocking rivals in eastern Europe, practices which the European Commission say breach the bloc's rules ensuring a level playing field.It is seeking to avoid a fine, which under EU rules could be up to $7.6 billion, equal to 10 percent of its 2014 revenue, and settle the charges with concessions.Both Gazprom and the European Commission have narrowed their differences on the issue and may soon find a solution, one of the sources said.Gazprom supplies around a third of the 28-member EU's gas and a decision in the case, which has dragged on for nearly five years, comes amid continuing tension between the European Union and Russia over Ukraine, Syria and the proposed Nord Stream gas link to Germany.Gazprom's deputy chief executive Alexander Medvedev will meet EU competition chief Margrethe Vestager in Brussels on March 9.A source at Gazprom Export confirmed the meeting plans. A Gazprom spokeswoman and European Commission spokesman Ricardo Cardoso both declined to comment. Medvedev met Vestager in December and both sides agreed to continue talks aimed at resolving the case.  Full Article

Gazprom PAO - Ukraine's antimonopoly committee decides to fine Gazprom for $3.4 bln - ITARTA
Thursday, 21 Jan 2016 10:31pm EST 

Gazprom PAO:Ukraine's Antimonopoly Committee has decided to fine Russian company Gazprom for 85 billion hryvnia (about $ 3.4 billion), the committee's Chairman Yuri Terentyev said on his facebook page - ITARTA."Today we have made a decision about the abuse of dominant position on the natural gas transit market with the use of the main pipelines on the territory of Ukraine by Gazprom company as a monopoly buyer. The amount of fines is 85 billion hryvnia,"-Terentyev said. - ITARTA.Ukraine's Antimonopoly committee conducted an investigation into the monopolistic position of Gazprom on the market for transit and violation of the contract with Naftogaz of Ukraine - ITARTA.Earlier, Terentyev wrote that in a letter dated January 13, Gazprom informed the committee that it denied the charges against it, and on January 14 representatives of the Russian company did not attend the hearing. - ITARTA.By the ruling dated April 22, 2015, the Ukrainian government addressed the antimonopoly committee with regard to violations of legislation on economic competition by Gazprom - ITARTA.  Full Article

Gazprom PAO cancels tender for work on gas pipeline to China - Reuters
Tuesday, 29 Dec 2015 12:20am EST 

Gazprom PAO:Gazprom GAZP.MM has cancelled a tender for construction of around half of its Power of Siberia gas pipeline to China worth almost 156 billion roubles ($2.2 billion), it said in a regulatory filing on Tuesday - RTRS.A spokeswoman for Gazprom declined to provide immediate comment. - RTRS.Russia's FAS federal anti-monopoly body had questioned the tender's compliance with regulations. - RTRS.In a separate tender last week, Gazprom awarded Stroygazmontazh, owned by Arkady Rotenberg, an ally of Russian President Vladimir Putin, contracts worth almost $3 billion for work on the pipeline. - RTRS.  Full Article

Gazprom PAO - Ukrainian Antimonopoly Committee accuses Gazprom of violating contract with Naftogaz - UKRGEN
Friday, 25 Dec 2015 03:50am EST 

Gazprom PAO:Ukrainian Antimonopoly Committee has determined preliminarily, following an antitrust investigation, - UKRGEN.that Gazprom occupies a monopolistic position on Ukrainian gas transportation services market and regularly violated the terms and conditions of its contract with Naftogaz Ukrainy in 2009 -2015 - UKRGEN.The Antimonopoly Committee concluded in a preliminary report made public in Kyiv on Thursday that Gazprom had ignored any demands that it economically substantiate the terms and conditions of its cooperation with Naftogaz, - UKRGEN.particularly those concerning the volume of gas transportation across Ukraine and its cost. - UKRGEN."We expect Gazprom representatives to attend the next hearing concerning the possible abuse of monopolistic position," Ukrainian Antimonopoly Committee chief Yuriy Terentyev said. - UKRGEN.The Ukrainian Antimonopoly Committee had forwarded the preliminary conclusions to Naftogaz and Gazprom at the end of November, Terentyev said. Naftogaz said in response that it agreed with the findings, while Gazprom has not offered any answer, he said - UKRGEN.Ukrainian law provides for the possibility of a fine that can amount to 30% of the turnover involving violations, he added. - UKRGEN.The Ukrainian Cabinet of ministers issued a directive on April 22, 2015 on filing a case with the Antimonopoly Committee regarding Gazprom's possible violation of the law on the protection of economic competition - UKRGEN.  Full Article

Gazprom PAO's Medvedev leads defence in EU antitrust hearing - Reuters
Tuesday, 15 Dec 2015 12:17am EST 

Gazprom PAO:Gazprom deputy chief executive Alexander Medvedev will try to convince EU antitrust officials and a dozen EU countries on Tuesday that there is no basis for accusations the Russian gas giant over-charged customers and blocked rivals - RTRS.Medvedev smiled but declined to comment as he headed into the closed-door hearing near the European Commission's headquarters in Brussels, together with his legal advisers from Dentons law firm - RTRS.The Russian state-controlled company is fighting charges of anti-competitive behaviour in central and eastern Europe, which EU regulators have said face gas prices as much as 40 percent higher than in Germany and are also restricted from finding rival suppliers - RTRS.The stakes are high for both sides. Gazprom makes about 60 percent of its revenues from European sales while Europe gets about a third of its gas from the company. An adverse decision by regulators could jeopardise Gazprom's business model. - RTRS.Participants at the hearing included the Commission's deputy director general, Cecilio Madero, director Celine Gauer and officials from the energy and internal market - RTRS.Representatives from Britain's Office of Gas and Electricity Markets (Ofgem), the Spanish Foreign Ministry and Germany's Federal Cartel Office were also at the event. - RTRS.The list of participants included national regulators from Lithuania, Poland, Hungary, Finland, France, the Netherlands, Sweden, Italy and Denmark - RTRS.  Full Article

Gazprom PAO - Gazprom Neft to stop oil refining in Omsk due to fire - sources - Reuters
Sunday, 6 Dec 2015 10:38pm EST 

Gazprom PAO:Russia's Gazprom Neft is to stop oil refining at its Omsk refinery on Monday due to a fire, industry sources told Reuters on Monday - RTRS."There's an emergency shutdown at the Omsk refinery," a source in the company said. Another source said production of gasoline will be affected - RTRS.Gazprom Neft declined to comment - RTRS.  Full Article

Gazprom PAO signs memorandum of understanding with Kuwait Petroleum Corporation - Reuters
Tuesday, 10 Nov 2015 06:52am EST 

Gazprom PAO:Signs memorandum of understanding with Kuwait Petroleum Corporation, which determines the direction for potential partnership for the two companies - Reuters.In particular companies discussed partnerships in the sphere of liquid natural gas, liquefied petroleum gas, and other petroleum products, as well as in the scientific and technological field and cooperation and investment.  Full Article

Gazprom PAO - EU's Vestager says not close to concluding Gazprom antitrust case - RTRS
Wednesday, 4 Nov 2015 05:18am EST 

Gazprom PAO:Europe's antitrust chief said on Wednesday that she was not even close to concluding an antitrust case against Russian gas giant Gazprom - RTRS.Gazprom submitted a package of concessions in September in a bid to head off charges of overcharging customers in Poland, Hungary and six other countries by up to 40 percent and hindering competitors from entering the market - RTRS."There's no conclusion yet, not even close to a conclusion," European Competition Commissioner Margrethe Vestager told reporters when asked about the case - RTRS.  Full Article

Lithuania's gas trader signs LNG supply deal with Koch

STOCKHOLM, Sept 28 Lithuania's state-owned gas trader Lietuvos Duju Tiekimas said on Wednesday it had signed a liquefied natural gas (LNG) supply deal for 2017 with Koch Supply & Trading, a trading arm for Koch Industries.