Nord Stream

Russia's Gazprom Neft and Austria's OMV will work together in Iran's oil sector under a memorandum of understanding, OMV said on June 2.

"Preliminary possible spheres of cooperation include analysis, assessment and study of certain oil deposits located in the territory of the Islamic Republic of Iran in cooperation with the National Iranian Oil Company (NIOC)," OMV said.

Image: interfaxenergy.com

Russian energy giant Gazprom will begin construction on the Black Sea portion of the Turkish Stream natural gas pipeline in a few days, according to CEO Aleksey Miller, who spoke to reporters on Thursday.

A whole set of rigorous Energy Community's requirements for the construction of the now abandoned South Stream pipeline does not apply to Nord ("north") Stream.

Western partners of gas giant Gazprom agreed on April 24 to provide half the financing for the 9.5-billion euro ($10.32 billion) Nord Stream 2 pipeline, removing a big hurdle for a Russian plan to pump more gas to Europe.

Nord Stream 2 AG has signed contracts with Engie, OMV, Royal Dutch Shell, Uniper and Wintershall on the financing of the Nord Stream 2 gas pipeline.

The companies will provide half of the project cost of EUR 9.5 billion, TASS has reported, quoting Gazprom.

Nord Stream 2 AG has signed contracts with Engie, OMV, Royal Dutch Shell, Uniper and Wintershall on the financing of the Nord Stream 2 gas pipeline.

The companies will provide half of the project cost of EUR 9.5 billion, TASS has reported, quoting Gazprom.

The deal signed on Monday between Greece, Israel, Cyprus and Italy in Tel Aviv for the creation of the Eastern Mediterranean (EastMed) gas pipeline, is, according to sources, a reaction to the competing Nord Stream II pipeline connecting Germany and Russia.

Russian President Putin said on Thursday his country didn't feel offended about Bulgaria and other countries' decision not to carry through the South Stream gas pipeline project due to their lack of "manliness".

Gazprom's investments in gas midstream will grow by 6.8 percent year-on-year to 911.2 billion rubles ($15.3 billion), including the Turkish Stream project, the Russian gas holding said on Jan. 19, as reported by TASS. 

Investments in the Turkish Stream project will total 42 billion rubles ($702.7 million) in 2017, according to the report. 

Russian energy giant Gazprom has tabled a new option to revive the South Stream pipeline, local media report.

Alternative routes are being studied for South Stream and Nord Stream II which would possibly use private funding, instead of counting on EU support, Vesti Finance quotes Andrey Konoplyanik, adviser to the head of Gazprom Export, as saying.