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Kremlin-owned gas giant Gazprom said on Thursday it plunged to a net loss of 629 billion rubles ($6.9 billion) in 2023, its first annual loss in more than 20 years, amid dwindling gas trade with Europe, once its main sales market. The results highlight the dramatic decline of Gazprom, which since the collapse of the Soviet Union has been one of Russia’s most powerful companies, often used as a leverage to solve disputes with its neighbors, such as Ukraine and Moldova. Analysts had expected net income of 447 billion rubles, according to Interfax news agency. According to Reuters analysis, it...

A new BBC report has pointed to ‘evidence’ in a documentary that Russian navy ships were stationed near the site of the blast that destroyed the Nord Stream pipeline three months before it happened, in a clear insinuation that it was Russia that blew up its own pipeline.The report states that “Russian ships able to perform underwater operations were present near to where explosions later took place on the Nord Stream pipelines, according to an investigative documentary.”“The vessels were reportedly located using intercepted Russian navy communications,” it adds.The BBC says that the “suspicious Russian ship movements in the run-up to...

On September 26, 2022, Russian-owned Nord Stream 1 and 2 pipelines were hit by major explosions that put both pipelines out of operation. I use the term “operation,” advisedly because, due to the diplomacy surrounding Putin’s War in Ukraine, both pipelines had been shut down. It became quickly apparent that the cause of the explosions was sabotage. I covered the attacks on the pipelines in this story; Sanctions and US Opposition Couldn’t Stop Nord Stream and Russian Gas, but Sabotage Might Have Done the Job.The obvious question was, who did it? Four suspects emerged: the United States, Ukraine, an undetermined...

Denmark has invited Russian energy giant Gazprom to help recover a mystery object that was spotted near the Nord Stream 2 gas pipeline six months after sections of it were sabotaged. Russian President Vladimir Putin, who revealed the discovery of the object earlier this month, said experts believe that the object could be a signal antenna to activate an explosive in that part of the pipeline. German, Swedish and Danish authorities are investigating the undersea explosions that sparked four leaks on the two Nord Stream pipelines in the Baltic Sea in September, seven months after Russia invaded Ukraine. The Danish...

At the peak of his power, Russian President Vladimir Putin thought he could use his energy weapon to impose his will across Europe. Now Moldova — with a population of only 2.5 million — is emerging as the last truly vulnerable energy target in his flailing campaign to destabilize governments in the neighborhood taking a pro-EU trajectory. But no matter how hard Putin tries to turn the energy screws to topple the administration, Moldova’s government is doggedly resisting. Only last week Russian missile strikes triggered blackouts in half the country and last month Gazprom slashed gas supplies by a third,...

Enormous explosion hit one of Russia's major gas pipelines, sending flames and smoke billowing into the sky There are fears it may be a 'tit-for-tat' after traces of explosives were found at the site of the Nord Stream blast The fireball was visible for miles in every direction today after hitting about 14 miles east of St Petersburg Swedish prosecutor claimed sabotage was the cause of the Nord Stream pipeline blasts of September 26 An enormous explosion has hit one of Russia's major gas pipelines, sending flames and smoke billowing into the sky above and prompting fears it was a...

Andrew Weissmann and his part in decades of criminal activities. We first heard about Andrew Weissmann during the Mueller Special Counsel. It was uncovered that Weissmann was at Hillary’s 2016 Inauguration [funeral] party. This made no sense to this former international audit executive. There are ethics practices in auditing that prevent partaking in audits where you have a conflict of interest, whether real or perceived. This guy Weissmann should never have been assigned to the Mueller team. Something was up. Some believe the Mueller gang was led by Weissmann. This gang deviated from standard practices or committed crimes over 130...

Switzerland’s environment minister is facing backlash after recommending that people shower together in an effort to cut energy consumption this winter and fend off power cuts. Simonetta Sommaruga, 62, suggested that people “turn off the computer when you don’t need it, or turn off lights, or shower together” as part of her measures promoting a 15 percent reduction in energy consumption, The Times of London reported. Her suggestions were in response to questions on the government’s campaign by readers of Swiss newspaper 20 Minuten, according to the report. Authorities in Switzerland, which imports 75 percent of its gas from Germany,...

First, let me say it is amazing to compare a Putin press conference with their media to a Biden press conference with our media. How did we let this happen to ourselves...:-( ----------------------------------------------- President of Russia Vladimir Putin: Good evening, I am listening. Question: Now that the SCO summit is over, summing it up, can you tell us how you regard the SCO’s development prospects and what the most important thing is for Russia in the SCO? Vladimir Putin: The most important thing always and everywhere is economic development. And the SCO, cooperation with the SCO countries, creates conditions for...

The Bundestag calls on the country to negotiate with Russia 'with an open mind', as anti-Russian sanctions begin to take their toll on the deteriorating economy and energy scarcity. In a tweet on Thursday, German left-wing politician and chairman of the Bundestag committee on energy, Klaus Ernst, referenced statements by Chancellor Olaf Scholz that the sanctions should not hit Europe harder than Russia itself: “We have now imposed seven packages of sanctions and Gazprom is making record profits. At the same time, we are threatened with a wave of bankruptcies. Therefore: negotiate with Russia with an open mind". ...

«We will not encourage the Hungarian people to pay the price of the war. Energy sanctions will hurt Europe more than Russia, so their strengthening will be contrary to common sense». On the end of August the Hungarian Minister of Foreign Affairs, Peter Szijjarto, said the Hungary doesn’t even want to discuss energy sanctions, which is about 85 per cent dependent on Russian gas, SchengenVisaInfo.com reports. These comments followed a meeting with the Estonian homologue, Urmas Reinsalu, during which Hungary reinstated its position and opposed a strengthened package of sanctions that Estonia was initiating. Minister Szijjarto pointed out that it...

Russia won’t immediately resume exports of natural gas to Europe through its Nord Stream 1 pipeline, worsening a shortage that threatens to tip the continent into an energy crisis this winter. On Friday, Russian state energy giant Gazprom said it would not resume flows through the pipeline on Saturday as planned because it had detected an oil leak at its Portovaya compressor station. The pipeline has been shut since Wednesday for maintenance. It didn’t give a timeline of when exports might resume.

Russia is burning off significant quantities of natural gas worth millions of dollars daily, which would have gone to Germany through the Nord Stream 1 pipeline. Experts at Norway-based Rystad Energy found that a new liquified natural gas (LNG) facility northwest of St. Petersburg is burning an estimated $10 million worth of gas every day. The LNG plant is located close to a compressor station at the start of the Nord Stream 1 pipeline, which transports gas to Germany under the sea via a Baltic Sea pipeline. Gazprom, the Russian energy giant, announced in July that it would reduce natural...

Russia and Iran are have begun talks to create an OPEC-like cartel for natural gas which would allow them to coordinate an “extraordinary” level of reserve output, giving them tremendous control over the tightness of the market and the price of the resource, according to a report by OIlPrice. The report said, “Occupying the number one and number two positions in the world’s largest gas reserves table, respectively – Russia with just under 48 trillion cubic meters (tcm) and Iran with nearly 34 tcm – the two countries are in an ideal position to do this.” Russia’s Gazprom and the...

The car bomb attack on 'Putin's Rasputin' - who Vladimir deemed 'uncontrollable' - has 'all the hallmarks of a Russian GRU execution' because the military spy group 'often include a target's family', an expert has claimed. Yuri Felshtinsky, author of Blowing up Ukraine: The Return of Russian Terror and the Threat of World War III, has claimed the attack on Putin loyalist Alexander Dugin's daughter would have been authorised by the Kremlin. He claimed that Dugin, 60, had a reputation for being 'unruly' and that the Kremlin is 'using Dugin in its own global propaganda war' counting on the fact...

Margrethe Vestager, vice president of the European Commission, further urged EU citizens to take shorter showers. "When you turn off the water, say 'Take that, Putin!'” she said last week, referring to President Vladimir Putin of Russia.

Those taking the German government to task over the ongoing gas crisis have been branded the “new enemies of the state” by one government minister in the country. An ostensibly “centrist” minister in Germany has branded those looking to hold officials accountable for their chronic mismanagement of the country as the “new enemies of the state”. The minister — who is a member of former chancellor Angela Merkel’s Christian Democratic Union (CDU) party — made the claim as authorities in the country begin to fear significant backlash for gas shortages in the winter, with one official saying that he is...

Now there's a growing sense that Europe might not only meet its gas targets but also exceed them... Injections to Europe’s gas storage are running about nine weeks ahead of last year... European gas storage levels are above 70%, and have even surpassed the 5-year average. By November 1st, the EU will likely hit 80% natural gas storage capacity (its goal) – in time for peak winter demand. Germany is even aiming for 95% capacity, and is already at 75%... Indeed, analysts at Standard Chartered Plc are saying that President Vladimir Putin’s gas weapon will be effectively blunted by the...

Vladimir Putin has waged an energy war on Europe. The general running his campaign is ultra-loyalist and Gazprom PJSC boss Alexei Miller. ... Handicapping Gazprom is Mr. Miller’s decision over the past decade not to enter the market for liquefied-natural gas—a choice that left Gazprom, unlike Russian rival Novatek JSC, near totally reliant on pipelines to export fuel. Gazprom has limited options in the short term to redirect its gas to China and other buyers given its traditionally westward-facing infrastructure. One pipeline to China opened in 2019, but it can’t handle much gas. A second is under negotiation but won’t...

Hanover first big city to ban hot water and central heating in public buildings.. Lights to be switched off at night on major buildings like museums and town hall .. Germans told to expect higher electricity bills and sweeping gas rationing.. Move is a response to Vladimir Putin's gas squeeze which has Europe panicking.. Russian state energy giant Gazprom cut gas supplies to Germany to 20 per cent . ... The Germany city of Hanover has become the first big city in Europe to ban hot water and central heating in public buildings ... The drastic step comes as Germans...