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2016-06-21 21:05:00

GAZPROM & SHELL SWAP

GAZPROM & SHELL SWAP

According to Reuters, Russia's state-controlled gas giant Gazprom (GAZP.MM) could gain control over some of the assets that Shell (RDSa.L) acquired earlier this year from BG group, a senior Gazprom executive said in an interview.

Gazprom's Deputy Chief Executive Alexander Medvedev said the BG holdings could be included in an asset swap deal between Gazprom and Shell that was announced last year. He did not say what the BG holdings were or where they were located.

"The work is under way, progress has been made and the final result is just around the corner - it's certain that the (deals will be completed) by the year-end, maybe earlier," Medvedev said in an interview cleared for publication on Monday.

"Obviously, the BG assets are also in that basket," Medvedev told Reuters in the interview.

Gazprom is subject to U.S. financial sanctions imposed on Russia over the conflict in Ukraine.

Shell signed a deal with Gazprom last week to study jointly building a $10 billion gas plant on the Baltic Sea, as part of their strategic partnership which also foresees asset swaps.

Shell, which wants to sell as much as $30 billion worth of assets and exit 10 countries after merging with BG, has never commented on the assets it plans to offer to Gazprom.

The asset swap deal is not covered by the scope of the sanctions. Nevertheless, it could still arouse political sensitivities, especially if as part of the deal the Russian company, run by a close ally of Russian President Vladimir Putin, ends up controlling assets in western Europe.

Shell acquired BG Group for $54 billion in February.

Under the previously-announced terms of their asset swap deal, Gazprom and Shell will jointly invest $13 billion in three projects in Russia, including construction of a liquefied natural gas plant on the Baltic Sea and the Sakhalin-2 LNG plant expansion, in the Pacific Ocean.

Shell is also eyeing the Yuzhno-Kirinskoye gas field off Sakhalin island as part of the asset swap deal. That asset is specifically subject to the U.S. sanctions, complicating any involvement by Shell.

GAS AUCTION, LNG

Gazprom has another asset swap deal with Austrian energy firm OMV OMV.VI which will include OMV-owned assets in the North and Norwegian seas. Medvedev said in the interview that deal too would be completed by year end.

Medvedev also told Reuters that Gazprom plans to offer no less than 3 billion cubic meters (bcm) of gas at an auction for northwest Europe for supplies between October and March.

Last year, Gazprom started holding gas auctions for sales to Europe as part of efforts to protect its market share against other producers and types of fuel.

Medvedev also reiterated Gazprom's position that the United States will struggle to market its LNG to Europe because other markets offer more favorable conditions.

"Under the current pricing situation, they will resend (LNG cargoes) to other markets," Medvedev said.

-----

Earlier: 

EUROPE NEED RUSSIAN GAS 

THREE SHELL'S PRIORITIES 

NORD STREAM'S POLICY 

SHELL INCOME DOWN 89% 

SHELL NEED $30 BLN

 

 

 

Tags: GAZPROM, SHELL, BG, SANCTIONS
GAZPROM & SHELL SWAP September, 20, 09:05:00

OIL PRICE: ABOVE $55 YET

GAZPROM & SHELL SWAP September, 20, 09:00:00

GAS PRICES UP TO $3.146

GAZPROM & SHELL SWAP September, 20, 08:55:00

ЦЕНА URALS: $51,81591

GAZPROM & SHELL SWAP September, 20, 08:50:00

U.S. OIL + 79 TBD, GAS + 788 MCFD

GAZPROM & SHELL SWAP September, 20, 08:45:00

RENEWABLE'S FUTURE

GAZPROM & SHELL SWAP September, 20, 08:40:00

TOTAL BUYS RENEWABLE

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Chronicle:

GAZPROM & SHELL SWAP
September, 20, 08:35:00

BP - AZERBAIJAN OIL DEAL

BP and its partners in Azerbaijan's giant ACG oil production complex agreed Thursday to extend the production sharing contract by 25 years to 2049 and to increase the stake of state-owned SOCAR, reducing the size of their own shares.

GAZPROM & SHELL SWAP
September, 20, 08:30:00

U.S. DEFICIT UP TO $123.1 BLN

The U.S. current-account deficit increased to $123.1 billion (preliminary) in the second quarter of 2017 from $113.5 billion (revised) in the first quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit increased to 2.6 percent of current-dollar gross domestic product (GDP) from 2.4 percent in the first quarter.

GAZPROM & SHELL SWAP
September, 18, 12:35:00

OIL PRICE: ABOVE $55

U.S. West Texas Intermediate (WTI) crude futures CLc1 were trading up 41 cents, or 0.8 percent, at $50.30 by 0852 GMT, near the three-month high of $50.50 it reached last Thursday. Brent crude futures LCOc1, the benchmark for oil prices outside the United States, were at $55.91 a barrel, up 29 cents, and also not far from the near five-month high of $55.99 touched on Thursday.

GAZPROM & SHELL SWAP
September, 18, 12:30:00

RUSSIA - CHINA - VENEZUELA OIL

“The principal risk regarding Russian and Chinese activities in Venezuela in the near term is that they will exploit the unfolding crisis, including the effect of US sanctions, to deepen their control over Venezuela’s resources, and their [financial] leverage over the country as an anti-US political and military partner,” observed R. Evan Ellis, a senior associate in the Center for Strategic and International Studies’ Americas Program.

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Exchange Rates
Date: 00:00 00:00
USD 0.00 0.00
EUR 0.00 0.00
GBP 0.00 0.00
UAH 0.00 0.00
ADR bid ask
GAZPROM 0.000.00
LUKOIL 0.00 0.00
ROSNEFT 0.00 0.00
SURGUTNEFTEGAZ 0.000.00
TATNEFT0.00 0.00