OGZPY News and Press, PJSC Gazprom ADR From 12/11/20

Russia has resumed construction of the Nord Stream 2 gas pipeline to Germany, laying pipes after a one-year hiatus caused by U.S. sanctions, the pipeline operator says.Gazprom's (OGZPY) western partners in the project, which is estimated to cost €9.5B ($11.5B), are Royal Dutch Shell ([...

Gazprom (OGZPY) says it swung to a Q3 net loss of 251.3B rubles ($3.3B) from a year-ago net profit of 211.8B rubles, but it also raised its outlook for gas exports to Europe.Russian companies, which carry debt denominated in foreign currency, have suffered losses due to the devaluation of the...

Construction work is set to resume later this week on the Nord Stream 2 gas pipeline after being stopped for a year because of U.S. sanctions designed to end the pipeline that will bring Russian gas to Germany.Nord Stream 2 says undersea pipe-laying work will resume on a 2.6-km section of eac...

U.S. House and Senate negotiators have reached an agreement to include additional sanctions against the Nord Stream 2 gas pipeline between Russia and Germany in a must-pass defense bill, Bloomberg reports.The sanctions reportedly would target insurance and certification companies that wo...

The U.S. State Department has broadened the scope of sanctions targeting the Gazprom-led (OGZPY) Nord Stream 2 gas pipeline project, which is 100 miles short of completion beneath the Baltic Sea between Russia and Germany.New State Department guidelines expand upon last year's measure, saying...

There are now talks inside the European Union about the possible dismantlement of Gazprom's Nord Stream 2 gas pipeline. The good news is that Gazprom has enough financial flexibility to stay afloat for the long term, even if it will be forced to abandon the project. We decided to ...

Poland's antitrust agency slaps a $7.6B fine on Gazprom (OGZPY) for building the Nord Stream 2 gas pipeline to Germany, saying the project hurts Polish consumers and increases Europe’s dependence on Russian imports.The pipeline may lead to "serious consequences for Poland's and the EU'...

The value of the Russian currency considerably influences the price of RSX. Since the beginning of June, the ruble has fallen by almost 16% against the dollar. But it looks like the ruble weakening phase has come to an end. For further details see: Ruble Will Support The...

The Danish Energy Agency gives the Gazprom-led (OGZPY) Nord Stream 2 consortium permission to operate its Baltic Sea natural gas pipeline on the Danish continental shelf."The permit has been granted on a number of conditions to ensure a safe operation of the pipelines," and commissioning of t...

The world's largest group of shipping insurers will not insure vessels involved in the Gazprom-led (OGZPY) Nord Stream 2 and TurkStream gas pipeline projects because of the threat of U.S. sanctions.Associations belonging to the International Group of P&I Clubs, including the Shipowners Cl...