Gazprom Board of Directors Addresses Issue of Exchange Gas Trade Development in Russia

Source: www.gulfoilandgas.com 3/24/2015, Location: Asia

The Gazprom Board of Directors took notice of the information about the development of the exchange gas trading system. The Management Committee was tasked to proceed with this activity.

It was pointed out that in 2014 well-coordinated gas trading was launched at the St. Petersburg International Mercantile Exchange (SPIMEX). This is an important step for the Russian gas market development. An increase in the volume of exchange trade will provide for introducing market pricing principles as well as shaping up adequate price indicators for gas sold in the domestic market.

In addition, the existing Rules for gas trading at SPIMEX suggest that every trader should conclude a service contract for gas transportation with an authorized company Gazprom Mezhregiongaz Postavka. As a result, Gazprom has to purchase gas transportation services, which actually the Company provides itself, creating the tax risks related to the costs on gas transportation and compensating the input VAT.

Therefore, early this year Gazprom had to suspend its participation in gas trading until the situation is resolved. By now, Gazprom has introduced some changes into the system of interaction among the Group’s organizations, mitigating the Company’s tax risks. At present, Gazprom has resumed gas trading at SPIMEX.

Gazprom will continue further improving the regulatory framework governing the operation of the Russian gas market. This includes the issue of amending the Rules for gas trading with a view to fully eliminate all the tax risks for the Company.




Norway >>  5/25/2022 - Equinor and Halten East partners Vår Energi, Spirit Energy and Petoro have decided to invest about NOK 9 billion in the development of the area neighb...
United States >>  5/17/2022 - TotalEnergies, through its affiliate TotalEnergies E&P USA, Inc., announces the sanction of the Ballymore development, located 120 kilometers off the ...

Iran >>  5/15/2022 - The CEO of the National Iranian Oil ?Company (NIOC) here announced that a 7.5-?billion-dollar contract on the development of joint fields ?will be soo...
Nigeria >>  5/10/2022 - San Leon, the independent oil and gas production, development and exploration company focused on Nigeria, notes the announcement made yesterday by Dec...

Norway >>  5/9/2022 - ConocoPhillips Skandinavia AS, operator of the Greater Ekofisk Area together with our license partners, submitted a plan for development and operation...
United States >>  5/4/2022 - Williams has secured another tieback to Discovery’s Keathley Canyon Connector (KCC) pipeline, providing deepwater natural gas infrastructure services ...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.