2019-02-27 09:25:00
GAZPROM'S SHARE 36.7%
REUTERS - Russia's Gazprom increased its share of the European gas market last year despite a rising challenge from imports of U.S. liquefied natural gas (LNG), company officials told investors in Hong Kong on Tuesday.
The meeting came a day after the surprise departure of deputy chief executive Alexander Medvedev who has spearheaded Gazprom's export efforts for the past 16 years.
Gazprom's share of the European gas market rose to a record high 36.7 percent last year from 34.7 percent in 2017, the company said.
This, despite calls from the European Commission for EU states to diversify away from Russian energy in the wake of Moscow's annexation of Crimea in 2014.
Gazprom has also faced a rise in imports of U.S. LNG into Europe, which saw a near fivefold increase this winter.
"Our main priorities for the European markets are keeping - and maybe a limited increase - of our share," Elena Burmistrova, head of exporting arm Gazprom Export, said at the Hong Kong presentation which was webcast.
The company would aim to retain a market share in Europe of no less than 35 percent in coming years, she said. Europe accounts for around two-thirds of Gazprom's gas sales.
Gazprom's average gas price in Europe was $245.50 per 1,000 cubic meters last year and it expects a price of $230-$250 this year, Burmistrova said.
RIVALRY AT HOME
In Russia, Gazprom competes with oil producer Rosneft and private gas firm Novatek. Both have long lobbied for the right to export gas by pipeline but for now are limited to LNG sales.
On Tuesday, Novatek boss Leonid Mikhelson met Russian President Vladimir Putin, telling him that Novatek plans to raise its 2030 LNG output target to 70 million tonnes from 57 million in a year or two - putting it on par with top producer Qatar.
Novatek last year launched its $27 billion Yamal LNG plant, which can produce 16.5 million tonnes of LNG per year.
As for Gazprom, it plans to build a third line at its Sakhalin-2 plant in Russia's Far East in 2023-2024, Burmistrova said.
The company is looking to account for 25 percent of China's gas imports by 2035, a management committee member told the investors in Hong Kong.
It plans to supply China via the 38 billion cubic meters (bcm) per year Power of Siberia pipeline. China is set to become Gazprom's second largest market after Germany, where it sold a record 53.4 bcm of gas last year.
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Earlier:
2019, February, 25, 12:05:00
GLOBAL LNG TRADE +11%
SHELL - Strong demand for cleaner-burning fuel in Asia continued to drive rapid growth in liquefied natural gas (LNG) use in 2018, with global demand rising by 27 million tonnes to 319 million tonnes, according to Shell’s latest annual LNG Outlook.
2019, February, 22, 11:35:00
NOVATEK INCOME +4.7%
NOVATEK - Profit attributable to shareholders of PAO NOVATEK increased to RR 163.7 billion (RR 54.33 per share), or by 4.7%, as compared to 2017.
2019, February, 20, 11:15:00
СЕВЕРНЫЙ ПОТОК 2 В ГРАФИКЕ
МИНЭНЕРГО РОССИИ - Александр Новак отметил, что реализация проекта ведется в соответствии с графиком. “В совокупности уложено порядка 700 км по обеим ниткам газопровода”, - рассказал глава Минэнерго России.
2019, February, 18, 12:00:00
QUICK POWER OF SIBERIA
GAZPROM - As Alexey Miller said after the negotiations, “Construction of the Power of Siberia gas pipeline is going ahead of schedule, and Gazprom will start delivering gas to China well in advance, as early as December 1, 2019.”
2019, February, 15, 12:40:00
ВЗАИМОДЕЙСТВИЕ РОССИИ И ТУРЦИИ
МИНЭНЕРГО РОССИИ - «Нам удалось добиться значительных успехов в выполнении поручения руководителей наших стран об увеличении двустороннего товарооборота до 100 млрд долл. США: за прошлый год российско-турецкий товарооборот составил $25,6 млрд при экспорте $21,3 млрд и импорте $4,2 млрд. В общем, за 2018 год наш товарооборот увеличился на 15,7%», - рассказал Александр Новак.
2019, February, 15, 12:05:00
NORD STREAM 2 DEAL
REUTERS - Russia's planned Nord Stream 2 gas pipeline direct to Germany is set to face EU market rules after negotiators agreed informally to change the EU's gas directive to apply to offshore gas links, the European Commission said late Tuesday.
2019, February, 13, 12:00:00
U.S. LNG FOR EUROPE
PLATTS - Europe is likely to be a prime destination for US LNG cargoes well into the next decade as shipping costs make Europe preferable to Asia as a destination for US exporters, Massimo Mantovani, head of gas and LNG marketing at Italy's Eni, said Monday.
