Putin: ”The U.S. and European Union are shooting their own companies in the foot.” Russian state owned oil company Gazprom is turning to China for foreign sources of capital now that the U.S. and European financial markets are closed to them. Gazprom said in a press release posted on its website today that it was in talks with the behemoth Industrial and Commercial Bank of China for funding. The statement did not say whether funding would be provided, however. This has been quite the week for China-Russia relations. Li Keqiang was in Russia earlier this week to discuss deeper economic integration. Energyremains front and center. But integration is occurring beyond oil and gas deals. For instance, the Bank of Russia announced a deal with the Moscow Exchange to trade currencies and create forex derivatives contracts between the two markets.
Tag: Gazprom
The EU is taking seriously President Vladimir Putin’s letter to 18 European countries, in which he warned that Ukraine’s debt crisis could affect gas transit from Russia, German Chancellor Angela Merkel said. “There are many reasons to seriously take into account this message […] and for Europe to deliver a joint European response,” Itar-Tass reported Merkel as saying. She said the issue would be discussed in a meeting between European Union foreign ministers Monday. Speaking in Athens on Friday, Merkel stressed that the price on natural gas should be negotiated. She also said that EU Energy Commissioner Gunther Oettinger and representatives of European states should talk to Russia’s biggest gas producer, Gazprom.
existing and proposed russian natural gas … Real alternative to EU exports is born during recent talks in Moscow. Representatives of Chinese National Petroleum Company and Russia’s oil & gas giants Gazprom and…