RUSSIAN GAS FOR EUROPE

REUTERS - Russia's Energy Ministry said on Saturday that gas giant Gazprom's intention to terminate contracts with Ukraine poses no immediate threat to natural gas supplies to Europe through Ukraine.

The issue of gas transit has intensified after the Russian group said on Friday it would end the contracts after a Stockholm arbitration court ordered it to pay more than $2.5 billion to Ukrainian energy firm Naftogaz.

Gazprom (GAZP.MM) said on Saturday it had started moves to terminate gas supply contracts with Naftogaz, though Kiev said there had so far been no impact on supplies through its pipelines to Europe.

Gazprom's announcement marked an escalation in a long-running dispute between Moscow and Kiev, which has left Ukraine struggling to stay warm and which the EU has said could threaten gas flows across the continent.

Russia's Energy Minister Alexander Novak told European Commission Vice President Maros Sefcofic in a phone conversation that gas transit would not be at risk until Gazprom and Naftogaz fully terminated their agreement.

"Minister Novak assured that the gas transit from Russia to Europe is under no threat. The transit remains as reliable as in the past," the ministry said.

Gazprom deputy CEO Alexander Medvedev said on Saturday the group had begun proceedings at the same court to carry out the terminations.

"We have started the procedure of terminating contracts with Ukraine's Naftogaz," Medvedev said.

Ukraine's state-owned gas pipeline operator Ukrtransgaz said on Saturday it had had to take additional measures to ensure gas transit to European customers.

Ukrtransgaz spokesman Ihor Kravchyshyn said it had faced"a critical situation" as Russia had kept pressure at the point connecting to the Ukrainian pipeline system at a low level - at least 20 percent below that required by transit contracts.

Ukrainian President Petro Poroshenko said on Saturday Ukraine saw an increase in gas supplies from Poland, Slovakia, and Hungary, which has fully offset the impact of Gazprom's decision.

Gazprom had intended to resume gas supplies to Ukraine for the first time since late 2015 when Kiev started buying gas from Europe to try to cut its energy dependence on Moscow. But the Russian group canceled that plan on Friday.

-----

Earlier:

2018, February, 27, 14:10:00 RUSSIAN GAS FOR AUSTRIA UP GAZPROM - In early 2018, the demand for gas is still on the rise in the country. According to estimates, from January 1 through February 21, 2018, Gazprom delivered to Austria 1.8 billion cubic meters of gas, a rise of 60.6 per cent against the same period of 2017 (1.1 billion cubic meters). Русский | English

2018, February, 12, 07:35:00 GAS SHORTAGE FOR EUROPE REUTERS - “Europe completely miscalculated when they assumed that they won’t need much additional gas and if they need some it can be supplied from outside Russia,” Medvedev, who looks after exports for the world’s top gas producer and exporter, said. Русский | English

2018, January, 31, 11:05:00 U.S. - RUSSIA SANCTIONS ANEW REUTERS - U.S. Secretary of State Rex Tillerson said in Warsaw on Saturday that the United States sees Nord Stream 2 as a threat to Europe’s energy security.

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.

2018, January, 29, 08:30:00 U.S. WANT RUSSIA'S MARKET SHARE BLOOMBERG - The expansion of Russia’s gas pipeline to Germany under the Baltic Sea, which bypasses a number of east European nations, will allow the Kremlin to use energy as a “political tool,” U.S. Secretary of State Rex Tillerson said in Warsaw.

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. Русский | English

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. Русский | English