Latest news with #Naftogaz
OC Media
3 days ago
- Business
- OC Media
Ukraine signs gas deal with Azerbaijan's SOCAR
Sign in or or Become a member to unlock the audio version of this article Join the voices Aliyev wants to silence. For over eight years, OC Media has worked with fearless journalists from Azerbaijan — some of whom now face decades behind bars — to bring you the stories the regime is afraid will get out. Help us fuel Aliyev's fears — become an OC Media member today Become a member Ukraine's state-owned oil and gas company Naftogaz has signed its first deal with the State Oil Company of Azerbaijan (SOCAR) to import natural gas via the Trans-Balkan route. Naftogaz announced the deal via a press release on Monday. 'This is a small volume but strategically important step that paves the way for long-term cooperation. It is also another example of diversifying supply sources and strengthening Ukraine's energy security', the CEO of Naftogaz, Serhii Koretskyi, said. In the press release, Naftogaz also extended its gratitude to Ukrainian President Volodymyr Zelenskyi, the Ukrainian government, and Ukraine's Energy Ministry 'for their support in reaching this agreement', as well as to its Azerbaijani colleagues 'for their trust'. Ukraine announced the new Trans-Balkan route through Bulgaria, Romania, and Moldova in May 2025 'Having phased out Russian energy carriers, Ukraine, like our partners in the EU, is actively working to find alternative gas supply routes. The use of the Trans-Balkan route is important in this context', a press release by Ukraine's Energy Minister Herman Halushchenko said at the time. A source told Reuters in June that the new route could allow Ukraine to import up to 1 billion cubic metres of gas between June–October 2025, with a daily import capacity of 7,000 cubic metres. Advertisement The Ukrainian government reportedly previously announced that the country needed to import at least 4 billion cubic metres of gas for the 2025–2026 heating season. As part of its effort to shift away from dependency on Russian energy, the EU has increasingly turned toward Azerbaijan. However, there are concerns that Azerbaijan still works to launder Russian fossil fuels to be sold in the European market. Previously, in May, the UK sanctioned a state-owned Azerbaijani tanker as part of efforts to block Russia's oil trading shadow fleet. An investigation by the Organised Crime and Corruption Reporting Project (OCCRP) found that the ship in question, the Zangazur, was owned by the Azerbaijan Caspian Shipping Company and that the Azerbaijani government owned the entirety of the company's shares. Based on shipping data, the OCCRP recorded the Zangazur paying regular visits to the Russian port of Primorsk, west of Saint Petersburg, which features an oil terminal, as well as to the Turkish port of Nemrut, where Azerbaijan's state-owned STAR oil refinery is located. According to data collected by the advocacy group Global Witness, Azerbaijan's STAR refinery processed a large amount of Russian crude oil in 2024. 'The vast majority of STAR products imported by the EU this year have likely been made from Russian oil', Global Witness stated in a July 2024 report. Such imports follow a 2022 Memorandum of Understanding (MOU), according to which Azerbaijan would double its supply of gas to the EU, which would allegedly, as European Commission President Ursula Von der Leyen highlighted at the time, 'compensate for cuts in supplies of Russian gas and contribute significantly to Europe's security of supply'.
Time of India
3 days ago
- Business
- Time of India
Ukraine signs first Transbalkan gas deal with Azerbaijan's SOCAR
Ukraine's state-owned oil and gas major Naftogaz has signed its first deal with Azerbaijan's SOCAR to import natural gas via the Transbalkan route , it said on Monday. "For the first time, a test shipment of gas is being delivered through the Transbalkan route along the Bulgaria-Romania-Ukraine corridor," Naftogaz said in a statement on its website. The Ukrainian company said the agreement was for a small volume of gas, and did not specify timelines. "This is a small volume but strategically important step that paves the way for long-term cooperation," Naftogaz CEO Serhiy Koretskyi was quoted in the statement.
Reuters
3 days ago
- Business
- Reuters
Ukraine signs first Transbalkan gas deal with Azerbaijan's SOCAR
KYIV, July 28 (Reuters) - Ukraine's state-owned oil and gas major Naftogaz has signed its first deal with Azerbaijan's SOCAR to import natural gas via the Transbalkan route, it said on Monday. "For the first time, a test shipment of gas is being delivered through the Transbalkan route along the Bulgaria–Romania–Ukraine corridor," Naftogaz said in a statement on its website. The Ukrainian company said the agreement was for a small volume of gas, and did not specify timelines. "This is a small volume but strategically important step that paves the way for long-term cooperation," Naftogaz CEO Serhiy Koretskyi was quoted in the statement.
Al Jazeera
23-07-2025
- Politics
- Al Jazeera
Russia-Ukraine war: List of key events, day 1,245
Here is how things stand on Wednesday, July 23: Fighting A Ukrainian drone strike on a private bus killed three people in the Russian-occupied region of Kherson, Russian-appointed local official Vladimir Saldo said. 'Three more civilians were injured and are in serious condition,' Saldo added in a Telegram post. A Ukrainian attack killed a man in Russia's Belgorod border region, the local governor said. A Russian glide bomb attack killed a 10-year-old boy in the eastern Ukrainian city of Kramatorsk, the head of the city's military administration, Oleksandr Honcharenko, said. The bomb, which caused a fire in an apartment building, also wounded five others, Honcharenko added. Russia launched multiple waves of attacks on Ukraine's Sumy region, including two separate drone attacks on a petrol station in the town of Putyvl, which injured 11 people, local officials said. The Russian army claimed that it captured the village of Novotoretske in the Donetsk region of Ukraine. Ukraine's military said that a French-supplied Mirage 2000 fighter jet crashed after experiencing equipment failure during an assignment, with the pilot ejecting safely. A 'massive' Russian drone attack damaged Ukrainian gas production infrastructure, said Sergii Koretski, the CEO of Ukraine's state energy firm Naftogaz. 'Such attacks occur regularly. These objects are of no military significance,' Koretski wrote on Facebook. Ceasefire Kremlin spokesman Dmitry Peskov told reporters that there is 'no reason to expect' any 'miracles' in ceasefire negotiations, as Moscow has yet to confirm if it will participate in peace talks in Istanbul on Wednesday, which were proposed by Ukrainian President Volodymyr Zelenskyy last week. The Kremlin said it hoped talks could be held 'this week', with Peskov adding: 'As soon as we are ready, we will make an announcement regarding the dates.' Outlining potential topics for discussion with Moscow in Istanbul, Zelenskyy said that Kyiv was ready to 'secure the release of our people from captivity and return abducted children, to stop the killings, and to prepare a leaders' meeting'. Ukraine said its ex-defence minister and current secretary of the security council, Rustem Umerov, will head Kyiv's delegation to the proposed talks. Two Russian soldiers in need of medical care were handed over by Ukrainian authorities to be returned home, the Russian Ministry of Defence said. In a statement, the ministry said the release was undertaken on the basis of agreements reached in Istanbul last month. Politics Zelenskyy signed a bill revoking the autonomy of two anticorruption agencies, after it was approved by a vote of 263 to 13 in Ukraine's parliament. The European Union's Commissioner for Enlargement Marta Kos called the decision a 'serious step back' for Kyiv and added that independent bodies were 'essential for Ukraine's EU path'. Thousands of people gathered in Kyiv and other cities across Ukraine to protest against the bill, marking the first major protest against the government in more than three years of war against invading Russian troops. The bill came a day after Ukraine's domestic security agency detained two National Anti-Corruption Bureau of Ukraine officials on suspicion of links to Russia.
Bloomberg
15-07-2025
- Business
- Bloomberg
Hedge Funds in Ukraine Are Drawing a Line In State Rail Bond Restructuring
Credit investors have largely supported debt restructurings in Ukraine since Russia's invasion. But some holders of Ukrainian Railways' bonds are reluctant to engage in new debt talks until the government allows it to raise freight charges. Welcome to The Brink. I'm Edward Clark, a reporter in London, where I looked at a brewing standoff between Ukraine's government and hedge funds holding bonds in the state rail operator. We also have news on LifeScan, which is getting close to handing control to second-lien creditors, and a look at a shift in strategy for special situation funds. Follow this link to subscribe. Send us feedback and tips at debtnews@ Hedge funds that hold bonds in Ukrainian Railways are drawing a line in debt talks that would mark a second restructuring since Russia's invasion. Credit investors have given the green light to Ukraine's $20 billion debt revamp — and those of government-owned companies like Naftogaz and road operator Ukravtodor — since the February 2022 invasion. Privately-owned firms like DTEK Renewables have also been able to get extensions.
