Gazprom Neft, the oil subsidiary of the world's biggest gas company, has increased its stake in Sibir Energy by taking over one of the shareholders of the company, which is listed on the London Stock Exchange's Alternative Investment Market.
Russia's energy giant Gazprom finalised a one-billion-dollar deal with Namibian energy company Namcor to build a new power plant in the African country. The power plant would generate energy for both Namibia and South Africa.
Russia energy giant Gazprom has asked Belarus to pay 166 million euros for gas delivered between January and April. The dispute comes at a moment when diplomatic relations between Moscow and Minsk are tense.
Russia's energy giant Gazprom confirmed that the Ukraine has paid its May gas bill. Moscow had warned of a repeat of January's gas crisis, and suggested Ukraine will not be able to pay its June bill.
Ukrainian Prime Minister Yulia Tymoshenko met with Lybian Prime Minister Baghdadi Mahmoudi to discuss energy cooperation in a bid to reduce her country's dependence on Russian oil and gas.
The head of Russia's gas giant Gazprom has cast further doubt on the feasibility of a plan for the European Union to help modernise Ukraine's aging pipeline infrastructure without Russian input, adding that European utilities held the same view.
The European Union said it was very concerned about Russia's warning that it could again halt gas deliveries to Ukraine -- and possibly to Europe -- over a payment dispute, adding that the two countries' "credibility" would be affected.
The deal signed between Russia and Ukraine ending the current gas crisis could break up a complex and secret system that has governed the flow of gas between the two countries for the last 15 years.
Russian gas reached several European countries, including Slovakia and Hungary, after Russia and Ukraine reached an agreement on gas transit. Some additional countries may need to wait until Wednesday to receive their gas flow.
Czech Prime Minister Mirek Topolanek, whose country has just taken over the European presidency, has warned the European Union of the urgent need to develop a coordinated energy strategy. Why is there still no unified EU energy policy?
