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. Last Updated: 07/27/2016

Business in Brief

Gazprom Strikes Urals Deal

Gazprom agreed Friday to buy gas from Urals Energy's Dulisma field in eastern Siberia.

Gazprom and London-based Urals Energy signed a preliminary agreement to jointly finance construction of pipelines in the Irkutsk region, the gas company said in a statement Friday. The companies may also develop gas processing, petrochemicals and power ventures. (Bloomberg)

LUKoil's Eastern Offer

LUKoil proposed setting up a group of companies, led by Gazprom, to develop gas fields in the Far East and eastern Siberian, Interfax said, citing LUKoil CEO Vagit Alekperov at a government meeting Friday.

The areas could produce more than 200 billion cubic meters per year of gas after 2030, Gazprom deputy CEO Alexander Ananenkov told the meeting. (Bloomberg)

Eni-Kazakh Link-Up?

ALMATY, Kazakhstan -- Eni wants Kazakhstan's state-run KazMunaiGaz to take part in a planned oil pipeline project that will connect Samsun on the Black Sea to Ceyhan in Turkey, Interfax reported Friday.

"We would be very happy if KazMunaiGaz became one of the participants in the project," Stefano Cao, Eni's general manager of exploration and production, said Sunday in Ust-Kamenogorsk, cited by the news agency. (Bloomberg)

Gas Export Price May Rise

LONDON -- Gazprom will get more for the fuel because of higher crude oil prices, brokerage Troika Dialog forecast in a report for clients Friday.

Gazprom's export gas price will average $245 a 1,000 cubic meters in 2011, up from the earlier forecast of $209, the report said. (Bloomberg)

3 Pipelines to China?

China and Russia may build three cross-border natural gas pipelines, China Daily reported Friday, citing a researcher at China's CNPC.

The first pipeline will have a capacity to transport 34 billion cubic meters of gas from Russia's Irkutsk to Daqing in northeastern China, the newspaper reported Friday, citing Li Guoyu.

The second pipeline will be able to pump 30 bcm of the fuel from Siberia to Lunnan in China's northwestern province of Xinjiang, the report said. The third will run from Sakhalin to China and will be able to transport 15 bcm per year, the China Daily newspaper reported. (Bloomberg)

Coke Tariff Suspended

Russia has suspended a 6.5 percent tariff on coke produced from coal for nine months, the government said Friday.

The announcement was published on the government's web site. A resolution suspending the tariff will become effective one month after it is published in Rossiiskaya Gazeta. (Reuters)

Springer Denies Forbes Sale

Axel Springer Russia has denied reports that it sold the Russian edition of Forbes magazine to Rodionov publishing house, Interfax said Friday.

"Rumors that Forbes was sold to Rodionov Publishing House are not true," Axel Springer Russia assistant director Peter Krueger said, Interfax reported.

Earlier media reports had claimed that sale of the business publication to Rodionov had neared completion. Rodionov is half-owned by billionaire Iskander Makhmudov, according to Forbes. (MT)

Venezuela Not Buying Subs

CARACAS, Venezuela -- Venezuelan Defense Minister Raul Isaias Baduel denied reports the government is planning to buy submarines from Russia, the state's Bolivarian news agency reported Friday.

Venezuela's recent increase in arms purchases is aimed at building up the country's defensive capabilities, Baduel said, cited by the state news agency. (Bloomberg)

$5 Bln Nuclear Plant

Russia will spend 130 billion rubles ($5 billion) on building a nuclear plant in Novovoronezh as the state seeks to expand atomic energy capacity and cut reliance on fossil fuels, the Federal Atomic Energy Agency said Friday.

Engineering company Atomenergoproject will build a two-reactor plant with a capacity of 2,000 megawatts in Novovoronezh, western Russia, the agency said. The facility will start by 2012, it said. (Bloomberg)

German Satellite Launch

A Russian-built rocket blasted off from the Baikonur cosmodrome Friday, sending a German satellite into orbit and providing a bit of good news for Russia's efforts to boost its profile in the commercial launch industry.

The Federal Space Agency said the Dnepr rocket carrying the TerraSAR-X satellite lifted off from Baikonur at 6:14 a.m. local time. The state-run German Aerospace Center, which jointly developed the craft along with EADS Astrium, said in a statement that the satellite reached orbit a short time later. (AP)

RusAl Buys Jamaica Plants

KINGSTON, Jamaica -- RusAl said Thursday it has bought two bauxite plants in Jamaica and hopes to expand operations in the Caribbean nation with coal-generated power.

RusAl official Igor Dorofeyev said the company wants to boost alumina production at its plants by building two coal-generated power plants to support them and provide electricity to the island's energy grid. (AP)