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2018-02-07 08:15:00

GAZPROM'S ANNUAL INVESTMENT: $17.5 BLN

GAZPROM'S ANNUAL INVESTMENT: $17.5 BLN

REUTERSRussian gas giant Gazprom said on Tuesday it expected debt repayments to peak in 2018 and investments to peak between 2018 and 2020 as it boosted spending on major pipeline projects.

Gazprom, which is involved in building three major gas pipeline projects to Europe, China and Turkey, frequently draws criticism from analysts who say it should rein in spending.

Gazprom expects its average annual investment until 2035 to be capped at 1 trillion rubles ($17.5 billion).

Gazprom Group, which combines the gas business with the Russian firm's oil and power generation units, expects to spend 1.28 trillion rubles on investment this year.

Gazprom Chief Financial Officer Andrey Kruglov told investors in New York that the company would continue to be a big spender in the coming years, adding that its debt repayments would reach a high of more than $13 billion in 2018.

A negative net cash flow was fairly likely both this year and next, he added.

The state-controlled Russian company is facing political resistance in Europe, particularly over Moscow's role in the Ukrainian crisis, but it still plans to boost its share of the European gas market.

Gazprom, whose gas business relies on pipelines, is also facing steeper competition from producers of liquefied natural gas (LNG), which can be shipped from sources around the world.

"It is not only Gazprom, but foreign analysts as well recognize Russian pipeline gas' competitiveness in comparison to LNG," Kirill Polous, a Gazprom senior manager, told investors in New York.

Gazprom's three major pipeline projects are the Power of Siberia pipeline to China, Nord Stream-2 to Germany and TurkStream to Turkey and Southern Europe.

Gazprom aims to boost gas production and exports.

By 2020, the company said it would produce 15 percent more gas than in 2016. In 2018, it would produce 476 billion cubic meters (bcm) of gas, compared to 471 in 2017, Gazprom said.

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Earlier:

 Russia
2018, January, 31, 10:50:00

GAZPROM SHARE 35%

REUTERS -Speaking at the European Gas Conference in Vienna, Gazprom Chairman Viktor Zubkov said the company’s share of the European gas market, where it generates the majority of its revenue, rose last year to a record high of more than 35 percent, from about 33 percent in 2016.

 

 Russia
2018, January, 24, 11:55:00

GAZPROM'S TURKSTREAM UNDERWAY

GAZPROM - The TurkStream project is well underway. In accordance with the plan, it is carried out simultaneously at three sections: onshore in Russia and Turkey and offshore in the Black Sea.

 Russia
2018, January, 5, 23:50:00

RUSSIA'S GAS RECORD

BLOOMBERG - Russia needs to strengthen its position in the global gas market as it’s considered a leading global energy power, President Vladimir Putin said last month. Already the world’s largest exporter of the fuel, the nation is working to boost output with new LNG plants stretching from the Baltic region to the Pacific coast. That will pit the country against the biggest producers of the super-chilled fuel, including Qatar and Australia.

 

 Russia
2017, December, 22, 22:45:00

GAZPROM'S INVESTMENT: RUB 1,278.830 BLN

GAZPROM - Pursuant to Gazprom’s investment program for 2018, the overall amount of investments will stand at RUB 1,278.830 billion, with RUB 798.428 billion intended for capital investments, RUB 40.983 billion for the acquisition of non-current assets, and RUB 439.419 billion for long-term financial investments.

 Russia
2017, December, 22, 22:40:00

NEW GAZPROM'S RECORD

GAZPROM - Last year, Gazprom exported a record 179.3 billion cubic meters of gas to Europe. The upward trend continued this year: as early as December 8, 2017, last year’s record was beaten, with total exports reaching 179.8 billion cubic meters of gas.

 Russia
2017, December, 15, 13:05:00

GAZPROM - IRAN COOPERATION

GAZPROM - Alexey Miller and Ali Kardor, Iran’s Deputy Minister of Petroleum, CEO of National Iranian Oil Company, inked a Roadmap. Pursuant to the document, Gazprom will conduct a proof-of-concept study with regard to implementing integrated projects for hydrocarbon production, transmission and processing, including petrochemistry, in Iranian territory.

 Russia
2017, December, 1, 12:45:00

RUSSIAN GAS TO GERMANY: 200 BLN

GAZPROM - the Nord Stream gas pipeline transmitted its 200 billionth cubic meter of gas from Russia to Germany via the Greifswald delivery point.

Tags: RUSSIA, GAZPROM, INVESTMENT

Chronicle:

GAZPROM'S ANNUAL INVESTMENT: $17.5 BLN
2018, May, 21, 10:40:00

U.S. PETROLEUM DEMAND UP BY 750 TBD

API - American Petroleum Institute reported that the first four months of this year saw U.S. petroleum demand average 750 thousand barrels a day above the same period in 2017 despite higher prices, a sign of solid economic activity. April also saw the U.S. produce a record 10.5 million barrels per day (MBD) of oil.

GAZPROM'S ANNUAL INVESTMENT: $17.5 BLN
2018, May, 21, 10:35:00

IMF: EGYPT'S GROWTH UP

IMF - “Egypt’s growth has continued to accelerate during 2017/18, rising to 5.2 percent in the first half of the year from 4.2 percent in 2016/17. The current account deficit has also declined sharply, reflecting the recovery in tourism and strong growth in remittances, while improved investor confidence has continued to support portfolio inflows. In addition, gross international reserves rose to $44 billion by end-April, equal to 7 months of imports.

GAZPROM'S ANNUAL INVESTMENT: $17.5 BLN
2018, May, 21, 10:30:00

U.S. RIGS UP 1 TO 1,046

BAKER HUGHES A GE - U.S. Rig Count is up 1 rig from last week to 1,046, with oil rigs unchanged at 844, gas rigs up 1 to 200, and miscellaneous rigs unchanged at 2. Canada Rig Count is up 4 rigs from last week to 83, with oil rigs up 6 to 38 and gas rigs down 2 to 45.

GAZPROM'S ANNUAL INVESTMENT: $17.5 BLN
2018, May, 18, 09:20:00

OIL PRICE: ABOVE $79

REUTERS - Brent crude futures LCOc1 were at $79.57 per barrel at 0310 GMT, up 27 cents, or 0.3 percent from their last close. Brent broke through $80 for the first time since November 2014 on Thursday. U.S. West Texas Intermediate (WTI) crude futures were at $71.62 a barrel, up 13 cents, or 0.2 percent, from their last settlement.

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