Gazprom's Profits Tripled In III Quarter 2010

Net profit of Gazprom in the III quarter of 2010 increased almost three times over the same period a year earlier, the company said today. During July and August Russian natural gas giant earned 56.8 billion rubles according to Russian Accounting Standards (RAS), which is 2,8 times more than a year ago (20.15 billion).


Earlier, representatives of Gazprom reported that the company is planning this year's net profit under RAS on the level of the previous year. In 2009 the company's profit amounted to 624.6 billion rubles and the two thirds of these profits came in IV quarter, when the gas company earned 435 billion rubles.

GDF Suez SA Intends To Acquire 9% Stake In Nord Stream

French energy company GDF Suez SA has expressed a desire to acquire 9% stake in the project pipeline Nord Stream. The Nord Stream pipeline will link Russia and Germany, reports Reuters.

 Gerard Mestrallet, CEO of GDF Suez SA, confirmed the negotiation process between the parties adding that hey get no political obstacles to getting his company into the project from the Russian party.  

In April, Russia's Gazprom announced that GDF Suez began talks on joining the project of gas pipeline Nord Stream, which will run under the Baltic Sea from Russia to Germany. Controlling stake - 51 percent - in this project belongs to Gazprom, 20% to Wintershall Holding and E. ON Ruhrgas and 9% to the Dutch Nederlandse Gasunie. 

The deputy head of Gazprom, Alexander Medvedev said in June that GDF Suez may get stake in the project, equal to the share of Gasunie, E. ON and did not rule that would give 4.5 per cent in favor of the French company.

Gazprom - Mitsui & Co. Ltd.: Prospects for Cooperation

The working meeting of deputy chairman of Gazprom Alexander Ananenkov the executive director of Mitsui & Co., Ltd. Mitsui Hidaka and member of the board of the company Noriaki Sakamoto held at the central office of Gazprom.

The parties discussed prospects of cooperation in the energy sector. In particular, much attention was paid to the implementation of the project to supply LNG and CNG in the Asia-Pacific and Japan, the transition to the stage of feasibility study on the Vladivostok project.
In the sphere of interests of both parties are the possibilities of cooperation in the field of gas processing and gas chemicals in the Far East of Russia within the framework of the Eastern Gas Program, the press service of Gazprom reported. They also discussed the implementation of high-tech projects in the field of ecology and utilization of associated gas.

By the materials of the press-service of OAO Gazprom http://gazprom.ru/press/news/