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Gazprom CEO describes state of European gas market as 'bad' It is reported that the decline in demand for gas primarily affects European industry ST. PETERSBURG, October 10/ Gazprom CEO Alexey Miller said that the state of the European gas market is bad and Europe is deliberately destroying demand for gas and, according to some estimates, committing "energy suicide." "It is bad. What is happening on the European gas market has already received a stable definition of "artificial destruction of demand for gas," he said at the St. Petersburg International Gas Forum. "But there are also more severe assessments and expert opinions - some say that this can be called "energy suicide of Europe," while other experts say that we are witnessing how the economic driving force is turning into the sick man of Europe. And you know, one can agree with these words, since there really is a deliberate destruction of demand for gas," he added. Gazprom CEO noted that the EU and the UK have reduced gas consumption by 9 billion cubic meters in the first 9 months of 2024, while the EU's gas spending has increased in 2023. "Even such a low level and a declining level of demand for gas ultimately, as we see, requires huge financial spending," he stressed. Meanwhile, the decline in demand for gas primarily affects European industry, Miller noted. "Everyone recognizes that the process of deindustrialization of the EU is in full swing, as they say," he said. #business #finance #financialservices

Gazprom CEO does not rule out new gas price shock, supply disruptions in Europe According to Alexey Miller, European industry is uncompetitive compared to its US rivals due to the significant difference in gas and electricity prices ST. PETERSBURG, October 10/ Europe's current policy on its gas market and continued deindustrialization can lead to a new gas price shock and supply disruptions, Gazprom CEO Alexey Miller said this during a plenary session of the St. Petersburg International Gas Forum. "What will happen next? The process of deindustrialization of Europe will continue. Volatility in the gas market will increase even more, and, what is most unpleasant, such a policy and situation in the European gas market can lead to a new gas price shock and supply disruptions. Currently, European industry is uncompetitive compared to its US competitors due to the significant difference in gas and electricity prices," Miller said. "Let's compare electricity prices and gas prices in the US and the European Union. For similar industries in the US, electricity costs 2-3 times less, and gas costs 4-5 times less. The answer to the question if European industry can be competitive in this case is quite clear. The answer is no, it cannot," Gazprom CEO concluded. #business #finance #financialservices

Gazprom will not pay dividends for 2023 All bottom line profits in the Gazprom Group are earned almost solely by Gazprom Neft. These funds are used by Gazprom PAO (parent company of Gazprom Neft) for its own vast investment program, which includes both gasification of new areas across the Russia (Eastern Siberia, rural areas) and preparation for the construction of international gas pipelines. This does not directly mean that gas extraction and gas selling activities are loss making: earned money come directly to stage and regional budgets and in addition spent on social projects (gasification and other projects in each region of Gazprom presence). #Gazprom #NaturalGas

European natural gas prices jumped to their highest levels in over four months on Wednesday after Austria’s OMV warned that its supply may be cut off by Russia’s Gazprom. Unlike many European firms — and despite calls from Austria’s energy ministry for more diversification — OMV has continued to buy its usual volumes of Russian pipeline gas since the start of the war in Ukraine. Learn more >> https://bit.ly/44VAamI #Austria #OMV #Gazprom #natgas #gaspipelines

Russia’s gas supplies via Power of Siberia to China up by 35 yoy in 1H 2024 — IEA In early May, Gazprom reported that since the beginning of 2024 it had significantly increased gas supplies to China via the Power of Siberia, exceeding the volumes for the same period last year by 37.4% MOSCOW, July 16/ Supplies of Russian piped gas to China via the Power of Siberia pipeline increased by 35% year-on-year in the first half of 2024, according to a report by the International Energy Agency (IEA) on the gas market. "Russia’s piped gas exports to China via Power of Siberia grew by an estimated 35% y-o-y in H1 2024, with total deliveries for the full year expected to reach over 30 bcm," the report says. In early May, Gazprom reported that since the beginning of 2024 it had significantly increased gas supplies to China via the Power of Siberia, exceeding the volumes for the same period last year by 37.4%. In 2023, Gazprom increased gas supplies to China via the Power of Siberia by 1.5 times, to 22.7 billion cubic meters, which is 700 million cubic meters above contractual obligations. Power of Siberia is the largest gas transportation system in eastern Russia. Its export capacity of 38 bln cubic meters of gas per year is expected to be reached in 2025. Moreover, in the coming years, the total volume of Gazprom exports to China is expected to reach 48 bln cubic meters of gas per year (due to the implementation of a project for gas supplies to China via the Far Eastern route), and taking into account the transit gas pipeline through Mongolia - almost 100 bln cubic meters per year, Gazprom CEO Alexey Miller said earlier. Miller later said that China was considering the possibility of increasing Russian gas supplies through the Power of Siberia beyond the design capacity of 38 bln cubic meters and that such an agreement could be reached in the near future. #business #finance #financialservices

Gazprom's investments in 2025 will decrease by 7% to $14.06 bln The final parameters of the investment program and budget will be approved by the holding's Board of Directors MOSCOW, November 28/ Gazprom's Management Committee approved the draft investment program and budget for 2025, according to which the parent company Gazprom's investments next year will amount to 1.524 trillion rubles ($14.06 bln), which is 7% less than in 2024, the company said in a statement. "The Board of Directors of PJSC Gazprom took note of the information on the preliminary results of the company's operations in 2024 and the forecast of the investment program and budget (financial plan) for 2026-2027. The Board of Directors also approved the draft investment program and budget (financial plan) for 2025. According to the draft investment program for 2025, the total volume of its financing will amount to 1 trillion 523.7 billion rubles," the statement said. The final parameters of the investment program and budget will be approved by the holding's Board of Directors. Gazprom's investments for 2025 will provide funds to finance the development of gas production centers in Eastern Russia and the Yamal Peninsula, gasification of Russian regions, expansion of the capacity of Power of Siberia, Gazprom's gas processing complex, as well as the Eastern Gas Supply System Main Gas Pipeline System project, and projects to ensure peak gas balance. The approved financial plan will ensure that Gazprom's obligations are fully covered without a deficit, the holding said. Decisions on borrowing under the program will be made on the basis of market conditions, liquidity and the company's financing needs. #business #finance #financialservices

Gazprom Neft to pay out record 2023 dividends of 102.43 rubles per share Gazprom is the main shareholder of Gazprom Neft, according to recent available data, which controls 95.68% of the oil company MOSCOW, June 28/ Annual general meeting of shareholders of Gazprom Neft has approved the recommendation of the board of directors to pay out final dividends for 2023 in the amount of 19.49 rubles per share, the company reported. Considering payout for nine months, the dividend will total a record 102.43 rubles per share. For nine months the company’s dividends payments amounted to 82.94 rubles per share. Gazprom is the main shareholder of Gazprom Neft, according to recent available data, which controls 95.68% of the oil company. The remaining stake of ordinary shares (4.32%) is distributed between minority shareholders, individuals and legal entities. #business #finance #financialservices

Russian gas exports via #TurkStream fell in June due to planned maintenance, reducing flows to zero for five days. L’article Russian gas exports via TurkStream fall in June est apparu en premier sur energynews.

Demand concerns are developing in important commodity markets such as oil, coal, copper, and iron ore, and the gas market is no exception. Here are the key drivers of the gas market: 1️⃣ Europe's gas demand remains sluggish Enhanced French nuclear output, pleasant and breezy weather conditions, high hydro levels, and soft power demand lead to increased reliance on renewable energy sources. 2️⃣ Switching remains the key driver of global gas price benchmarks 3️⃣ Asian LNG import strength, European declines 4️⃣ Winter cushion for high storage inventories Inventories were high at the end of the winter, and storage injections remained strong throughout the summer. Europe is expected to enter winter with the ability to withdraw more than 95 cm of gas from storage. #GasDemand #Gas #SustainableEnergyAnalytics #SustainableEnergy Source: https://lnkd.in/erMeMjuK

$VTNR - Vertex options price alert: put open interest is down to 5373.0: As of the 9th of September, Vertex Energy has the Coefficient Of Variation of (618.59), variance of 66.13, and Risk Adjusted Performance of (0.12). In relation to fundamental indicators, the technical analysis model makes it possible for you to check existing technical drivers of Vertex Energy, as well as the relationship between them. Please validate Vertex Energy market risk adjusted performance and treynor ratio to decide if Vertex Energy is priced more or less accurately, providing market reflects its prevalent price of 0.34 per share. As Vertex Energy appears to be a penny stock we also recommend to double-check its jensen alpha numbers. https://lnkd.in/gtYxbYSP

The #EIA reported a build of +833 MBbls in US #crudeoil inventories. The build was larger than the average estimate of +711 as reported by #Bloomberg #OilPrices were down in the five minutes following the announcement, to $65.95 from $66.13 just before 09:30 AM. #Oil inventories for the U.S. are now at a deficit of 0.90 MMBbls (-0.2%) to last year, and a deficit of 17.80 MMBbls (-4.1%) to the five-year average https://lnkd.in/garcAe9c #commodity #commodityprices #commoditytrader #oilgas #oilandgas #oilprices #energy #commoditytrading #commoditymarkets #crudeoil #commoditymarket #gas #lng #oilindustry #oilfield #oilandgasindustry #oilpatch #oilfieldstrong #oilandgaslife #drilling #mining #oilproduction #oilandgassector #oilandgasexploration #crudeoilprice #crudeoiltrading #petroleumengineering #oilandgasfield #oilfieldlife #oilandgascompanies #oilprice #oilandgasnews #oilmarket #oilandenergy #oilfields #oildemand #oilexploration #oilgasindustry #oilrig #oilfieldfamily #oilanalysis #oil #WTIcrude #BrentCrude #petroleumindustry #petroleumproducts #petroleumengineer #petroleum #naturalgasindustry