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2017-01-30 19:00:00

GAZPROM'S SHARE UP TO 34%

GAZPROM'S SHARE UP TO 34%

REUTERS - Russian gas exporter Gazprom aims to build on its record sales to Europe in 2016, helped by the expansion of its German subsidiary Wingas, a board member of the subsidiary told Reuters in an interview.

Despite a drive by the European Union to diversify gas supplies and reduce its reliance on Russian imports, Gazprom increased its market share in Europe to 34 percent last year from 31 percent in 2015, posing a challenge to policymakers.

"We have significantly expanded our presence especially in Austria and the Czech Republic, but also in the Netherlands," said Ludwig Moehring, head of sales at Kassel-based Wingas.

"It has been and remains (Gazprom's) goal to safeguard a sales channel for gas in Europe (via Wingas), and to sell more gas in the different applications," he added.

Gazprom's sales to Germany jumped 21 percent in the first half of January, having hit a record 49.8 billion cubic meters (bcm) in 2016, which was up 12.5 percent on 2015.

That was the biggest single chunk of the 179.3 bcm Gazprom says it shipped to Europe last year.

The Russian group became sole owner of Wingas, a wholesaler with a market share of over 20 percent in Germany, in October 2015 after running it as a joint venture with BASF.

Wingas sells gas to local utilities and industry, and is the number two supplier to Germany, behind Uniper but ahead of RWE and VNG.

Moehring said expansion into eastern and southern European markets was following inroads into the Benelux, UK and French markets, but that Europe's diverse gas sources and savvy customers meant competition was intense.

"Competition is tough as nails and transparent," he said.

Clients were buying in ever smaller transactions, rather than locking in large volumes in one go.

The price of gas for 2018 at Germany's NCG trading point has fallen by 20 percent over the last two years and is not far off 12-year lows, helping consumers, but squeezing suppliers' margins.

But Moehring said the coal price's recent run-up to 2-year highs could help boost demand for gas burnt in power stations.

"One good piece of news for us and the climate is that coal has gone up significantly in recent months," he said.

The gas industry uses the fact that gas is only half as CO2-polluting as coal as a marketing argument.

-----

Earlier: 

GAZPROM UP TO 2.7% 

GAZPROM'S GAS RECORD 

GAZPROM - OMV AGREEMENT 

ГАЗПРОМ ДЛЯ ИТАЛИИ: +36,5% 

RUSSIAN GAS FOR GERMANY: UP TO 23%

 

 

Tags: GAZPROM, GAS, EUROPE, RUSSIA

Chronicle:

GAZPROM'S SHARE UP TO 34%
2018, January, 19, 12:15:00

S.KOREA'S DIVERSIFICATION

PLATTS - For full-year 2017, South Korea's crude imports from its biggest supplier Saudi Arabia fell 1.7% to 319.02 million barrels, compared with 324.45 million barrels in the previous year, customs data showed. On the contrary, South Korea has imported 1.77 million mt, or around 13 million barrels, of crude from the US in 2017, about four times higher than in 2016. Shipments from Russia grew to 140,000 b/d last year from 112,000 b/d in 2016.

GAZPROM'S SHARE UP TO 34%
2018, January, 19, 12:10:00

ADNOC'S 2030 STRATEGY

AOG - ADNOC’s 2030 strategy, he said, aims to capitalise on predicted global economic growth and demand for oil and petrochemical products, particularly in non-OECD countries. As its business responds to changing market dynamics, the company will continue to broaden its partnership base, strengthen its profitability, adapt to new realities and expand market access.

GAZPROM'S SHARE UP TO 34%
2018, January, 19, 12:05:00

TOSHIBA SELLS WESTINGHOUSE

WNN - Under the terms of the assignment and purchase agreement it has signed with Nucleus and Brookfield, Toshiba will sell its rights to assert claims against Westinghouse related to the parent guarantees in the amount of $5.788 billion, and on account of other claims Toshiba holds against Westinghouse in the amount of $2.284 billion to Nucleus, for the sale price of $2.160 billion.

GAZPROM'S SHARE UP TO 34%
2018, January, 17, 23:50:00

OIL PRICES: NOT ABOVE $70 YET

REUTERS - Brent crude futures LCOc1 were at $69.23 a barrel at 0808 GMT, up 8 cents from their last close, but down from a high of $69.37 earlier in the day. Brent on Monday rose to $70.37 a barrel, its highest since December 2014, the start of a three-year oil price slump. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $63.84 a barrel, down from a high of $63.89 earlier, but up 11 cents from their last settlement. WTI hit $64.89 on Tuesday, also the highest since December 2014.

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