Page 14 - FSU OGM Week 26 2021

FSUOGM NEWS IN BRIEF FSUOGM

news as negative for the name. Lukoil, expecting earnings estimates for
and the market started to shape the the company to continue to rise as analysts
prices. update their gas price assumptions,” the
EASTERN EUROPE bank commented.
Adding to the price impetus is that LNG
Transneft says prevents oil European gas prices to shipments to Europe in June so far are
reportedly down 16% vs May levels.
contamination of Volga by be boosted further by Gazprom’s bottom line and the gas giant
The rise in gas prices has been good for
Rosneft Gazprom’s summer pipeline is targeting a 50% upswing in EBITDA in
2021 on the back of soaring demand for gas
Russian oil pipeline monopoly Transneft has maintenance in Europe.
prevented a flow of oil contaminated with
chlorides into the pipeline system of the Soaring European gas prices will get an
Volga Federal District, the company said in extra boost in the coming months as Ukraine’s court suspends
a statement on June 28. Russia’s gas giant closes some pipeline
“Oil with an excessive of content of capacity down for its annual summer NACP order to dismiss
chlor-organic compounds was localized in maintenance, BCS GM reports.
the reservoir parks of Transneft-Privolga. Maintenance shutdowns are expected Vitrenko from Naftogaz
There was no threat of contamination of the for key pipelines in June-July, which will
(pipeline) system, we started preparation for restrict gas flows to Europe even as prices Kyiv District Administrative Court
technological procedures for normalization rise and LNG imports fall. suspended on June 18 an order of the
of oil. All customers receive oil of regulated Prices were already elevated due to a National Agency on Corruption Prevention
quality,” the statement read. heat wave sweeping Europe that has further (NACP) demanding that the Cabinet of
On June 23, the company stopped tightened Europe’s gas market. Price have Ministers dismiss Yuriy Vitrenko from the
pumping in the trunk pipelines Samara– risen to $360 per 1,000 cubic metres and position of CEO of Naftogaz (NAFTO).
Lopatino and Kuibyshev–Unecha-2 as it storage has contracted to record lows, The suspension will be valid until the court
discovered a high content of chlor-organic Interfax reported on June 21. hears the appeal by the Cabinet of the
compounds. On June 24, it discovered Now prices are likely to get an extra NACP order. According to a press release
excess of the compounds in the oil samples bump as Gazprom has already shut down from NACP on the same day, the court’s
from the reservoirs of the Mukhanovo TurkStream for repairs and Nord Stream ruling “proves once again the urgent need
pumping station. 1 will be closed down in July. TurkStream to complete the judiciary reform.” The
The only company that pumps oil to will be shut for the period of 22-29 June, NACP highlighted that the court’s ruling
the Mukhanovo station is Samaraneftegaz, while Nord Stream 1 is scheduled to halt to suspend its decision has been adopted
a subsidiary of oil major Rosneft. An shipments from 13-25 July. unprecedentedly fast, or “in less than two
independent laboratory ran tests of the Gazprom has filled Germany’s Caterina days,” while the courts have over 3,000
oil samples, and coordinated them with storage facility to 94% to help cover the corruption cases which remain untouched.
Transneft-Privolga and Samaraneftegaz. pipeline shutdown. However, this implies It also stated that the court effectively
The tests also confirmed contamination, that European storage – which on average is satisfied the Cabinet’s demand without
this is why Transneft suspended the intake only c40% full, a historical low for the time hearing the case, which is a violation.
of oil from Samaraneftegaz on June 25. The of year – will fall further behind normal Commenting on the NACP ruling
contaminated oil stands at 350,000 tonnes, seasonal levels when that happens, says BCS on June 18, PM Denys Shmyhal called it
the company said. GM. illegal and not logical. Namely, he said
“We reiterate Gazprom as one of our two that the NACP demanded that the PM
Top Picks in Russian oil & gas alongside cancel certain items of a Cabinet resolution

P14 www. NEWSBASE .com Week 26 30•June•2021