Gazprom Board of Directors approves investment program and budget for 2020

Release December 24, 2019, 19:00 Gazprom’s overall amount of investments for 2020: RUB 1,104.7 billion. This budget will provide full coverage of Gazprom’s liabilities without deficit. The Gazprom Board of Directors took note of the Company’s preliminary operating results for 2019 and the projected investment program and budget (financial plan) for 2021–2022. In addition, the Board of Directors approved the investment program and budget (financial…

Board of Directors approves Gazprom’s new Dividend Policy

Release December 24, 2019, 18:55 Dividends will be calculated based on adjusted net profit under IFRS. Target level of payouts – at least 50 per cent – is to be reached in three years. Dividend calculation mechanism was made as transparent as possible. The Gazprom Board of Directors approved the new revision of the Company’s Dividend Policy. The document, which was developed as part of the effort to streamline the financial strategy of Gazprom, takes into account…

Project finance documentation signed for Amur Gas Processing Plant

Release December 24, 2019, 15:20 Total amount borrowed: EUR 11.4 billion. Financing is provided by 22 banks from Europe, Asia, and Russia. Unprecedented deal in Gazprom’s history and one of Europe’s largest in last few years. Gazprom Pererabotka Blagoveshchensk and Gazprom completed the signing of project finance documentation for the construction of the Amur Gas Processing Plant (GPP). The total amount of debt financing is EUR 11.4 billion.…

Russia’s Internet Is Ready for Isolation, Officials Say After Partial Shutdown

Russia completed a series of tests on Monday checking that its internet services could function if the country were to get cut off from the worldwide web, Deputy Communications Minister Alexei Sokolov said. The tests, conducted over the course of several days on specially designated networks,  follow Russia’s controversial “sovereign internet” law enacted last month,…

Putin Launches Direct Train Service to Crimea

President Vladimir Putin launched Russia’s first direct train to Crimea on Monday, opening railway service along a now-completed $4 billion bridge that links continental Russia to the annexed peninsula. Dozens of Western countries targeted Russia with economic sanctions over its annexation of the Black Sea peninsula from Ukraine in 2014 following an unrecognized referendum. The…

Moody’s Updates PhosAgro Credit Analysis

The agency noted, among other things, that PhosAgro’s Baa3 rating reflects the Company’s significant global market presence and focus on premium-priced value-added complex fertilizers;  strong margins through the cycle, underpinned by its high-quality mining resources, self-sufficiency in key raw materials, and access to low-cost sulphur and natural gas; and balanced financial policy and public commitment…

U.S. Concerned as Libyan Conflict Turning Bloodier With Russian Mercenaries

The United States is “very concerned” about the intensification of the conflict in Libya, with a rising number of reported Russian mercenaries supporting Khalifa Haftar’s forces on the ground turning the conflict into a bloodier one, a senior State Department official said on Saturday. The United States continues to recognize the Government of National Accord (GNA)…

Alexey Miller lays out details of Protocol on gas cooperation with Ukraine, effective January 1, 2020

December 21, 2019, 17:25 Alexey Miller, Chairman of the Gazprom Management Committee: “In line with the Protocol on gas cooperation, Gazprom and Naftogaz will sign an agreement to settle their mutual claims under the existing contracts, thereby restoring the balance between the interests of the parties. According to the settlement agreement, no new claims shall be filed, the pending arbitration and legal claims shall…

Erdogan Says Turkey Won’t Be Silent Over Russian-Backed Mercenaries in Libya

President Tayyip Erdogan said on Friday that Turkey will not stay silent over Russian-backed mercenaries supporting Khalifa Haftar in Libya, as Moscow voiced concerns over possible Turkish military deployment to Libya in support of Haftar’s enemies. Turkey has backed Libya’s internationally recognized government led by Fayez al-Serraj and the two sides signed a security agreement…

Trump Official Slams New Anti-Russia Sanctions in Leaked Letter

Donald Trump’s administration has slammed a new package of tough anti-Russia sanctions advanced by U.S. lawmakers earlier this week, The Daily Beast reported Thursday, citing a leaked letter from a State Department official.  The U.S. Senate Foreign Relations Committee approved draft legislation Wednesday that would impose new sanctions against Russia’s banking, energy and ship-building sectors…

Putin Dodges Question on Daughters’ Identity

Russian President Vladimir Putin sidestepped a question about the identities of his two daughters at his annual end-of-year news conference on Thursday. Named sources have told Reuters — but later retracted their statements — that one of Putin‘s adult daughters is Katerina Tikhonova, who runs publicly funded projects and takes part in competitive rock’n’roll dancing. Media have identified Putin‘s…

The Moscow FSB Shooting: What We Know So Far

A gunman opened fire at Russia’s Federal Security Service (FSB) headquarters in central Moscow on Thursday evening, killing one officer and wounding five others, including one civilian. An unverified video depicted officers exchanging gunfire and appearing to kill the alleged shooter behind a column. Other videos showed the FSB building being sprayed with gunfire and…

ROSATOM’s first of a kind floating power unit connects to isolated electricity grid in Pevek, Russia’s Far East

19th December, 2019, Pevek, Russia – The floating power unit (FPU) Akademik Lomonosov has been connected to the grid, generating electricity for the first time in the isolated Chaun-Bilibino network in Pevek, Chukotka, Russia’s Far East. This happened after the Russian regulator Rostekhnadzor issued an operations permit, as well as permission to connect to the…

Russia’s People of the Year 2019

Citizen of the Year – Danila Beglets By Kirill Martynov Danila Beglets is a political prisoner in the so-called Moscow protest cases.  However, unlike most politicians, Beglets is not fighting for power. He is not interested in elections and he is neither an activist nor famous. He is an ordinary person who was walking along…

Putin Open to Changing Constitution Amid Succession Question

Russian President Vladimir Putin said on Thursday he was open to the possibility of altering Russia‘s constitution, including proposals to increase parliament’s power and to limit the number of presidential terms anyone can serve. The issue of constitutional change in Russia is watched closely amid speculation about Putin’s own political ambitions. In power as either president or prime…