A Snapshot of Key Developments in the External Relations of the Russian Gas Sector
By Jack Sharples, EGF Associate Researcher on the external dimensions of Russian gas

Key points:

• Gazprom’s Q1 profits rise due to increased sales revenues and reduced ‘retroactive payments’ to European energy; Gas price negotiations between Gazprom & Lithuania continue; Russia and EU agree terms of use for OPAL; Gazprom commissions underground gas storage facility in Kaliningrad and may build Baltic LNG import and export terminals; EU prepares to charge Gazprom with abusing its dominant market position in Central and Eastern Europe; Gazprom asset-swap with BASF to be confirmed by early 2014
• Ukraine faces delay in beginning of gas supplies from Europe via Slovakia; Gazprom and Ukraine reach a compromise over the amount of gas needed to be kept in storage to ensure stable transit of Russian gas via Ukraine in winter 2013-14
• The EU leaves South Stream off its list of Projects of Common Interest
• Gazprom and CNPC agree major T&Cs for gas supplies to China except for price, resulting in a delay to the start of construction of a new pipeline from Russia to China
• Gazprom predicts losses of $16bn from planned freeze of domestic gas price increases, responds with call to freeze proposed Mineral Extraction Tax increases

• October 21, 2013

A Milan court on Saturday ruled that former Prime Minister Silvio Berlusconi should be barred from holding public office for two years following a conviction for tax fraud.

• October 19, 2013

European Union governments agreed on Friday to start talks with China to remove restrictions on foreign investment and set clearer rules on doing business after months of trade disputes over Chinese solar panels and EU wine.

• October 19, 2013

General Motors (GM.N) has decided to put its Russian operations back under the control of its European wing - a victory for GM Europe's new president and a signal of support for a workforce that has endured massive job cuts in the hunt for profitability.

• October 19, 2013

Former National Security Agency contractor Edward Snowden said he did not bring any of the documents he took from the agency with him to Russia, the New York Times reported on Thursday.

• October 18, 2013

Deal or no deal, the U.S. Congress' dance with default impressed policymakers and investors in China and Japan with just how vulnerable their own economic revival plans are to the next political tantrum on Capitol Hill.

• October 18, 2013

The European Union and Canada agreed a multi-billion-dollar trade pact on Friday that will integrate two of the world's largest economies and paves the way for Europe to do an even bigger deal with the United States.

• October 18, 2013

Consensus may be hard to find in Washington these days, but many corporate executives and economists seem to agree on one point: the biggest risk to the world's largest economy may be its own elected representatives.

• October 17, 2013