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MarketScreener Homepage  >  Equities  >  MOSCOW INTERBANK CURRENCY EXCHANGE  >  Gazprom PAO    GAZP   RU0007661625

GAZPROM PAO

(GAZP)
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Gazprom OAO : Gazprom, China to Determine Gas Price in June - Chairman

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03/27/2013 | 02:12am EDT

By Lukas I. Alpert

MOSCOW--Russia's OAO Gazprom (GAZP.RS) will likely determine a price in June with China for gas supplies, the state gas giant's chairman said Wednesday on Rossiya 24 television.

"I think that somewhere in June the price will finally be determined and by the end of the year all the contracts will be signed in regards to the supply, with the volume and price agreed," Viktor Zubkov said.

Gazprom said Friday it would conclude a 30-year supply deal to China by the end of the year, just as it is struggling with declining demand and regulatory pressure in its core market of Europe. Under the proposed agreement, Russia will begin shipping 38 billion cubic meters of gas a year to China in 2018 and could eventually increase supply to 60 billion cubic meters a year.

For years, China has sought greater access to Russia's vast gas supplies, but the two sides have never agreed on price. But Russia is now looking to Asia for sales, as demand falls and competition rises in Europe. It also wants funding to help develop and ship distant and hard-to-produce energy reserves. The two sides appear to be moving closer on price, as the price that Gazprom receives in Europe, its most lucrative market, has decreased.

Write to Lukas I. Alpert at lukas.alpert@dowjones.com

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Financials (USD)
Sales 2019 122 B
EBIT 2019 21 939 M
Net income 2019 21 768 M
Debt 2019 42 101 M
Yield 2019 7,06%
P/E ratio 2019 3,72x
P/E ratio 2020 4,24x
EV / Sales2019 0,99x
EV / Sales2020 0,99x
Capitalization 79 231 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 4,09  $
Last Close Price 3,59  $
Spread / Highest target 48,1%
Spread / Average Target 13,9%
Spread / Lowest Target -24,7%
EPS Revisions
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NameTitle
Alexei Borisovich Miller Deputy Chairman & Chairman-Management Board
Viktor Alexeevich Zubkov Chairman
Timur Askarovich Kulibayev Independent Director
Vladimir Alexandrovich Mau Director
Andrey Igorevich Akimov Director
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