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

GAZPROM PAO

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Gazprom : proposes short-term gas deal with Ukraine

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11/18/2019 | 11:06am EST
FILE PHOTO: St. Petersburg International Economic Forum

Gazprom has sent a letter to Ukraine formally proposing either to extend a current deal supplying gas to the country for its own use and for transit to Europe or to sign a new one-year agreement, the Russian gas exporter said on Monday.

The current 10-year agreement between Russia and Ukraine, which have been at loggerheads since Moscow annexed Crimea in 2014, expires on Dec. 31.

Russia needs time to finish building pipelines bypassing Ukraine in order to continue exporting gas to Europe, its largest market, without supplies passing through its neighbour. Without an extension to the deal, thousands of households on the continent are at risk of gas shortages during the winter season.

Ukraine's energy firm Naftogaz did not immediately respond to a request for comment. The country has previously said it preferred the certainty of a longer-term deal and would not agree to the short-term deal that Moscow needs.

State-controlled Gazprom also said on Monday that it had offered to drop legal claims and counter-claims by both Ukraine and Russia as a pre-condition for the deal.

Naftogaz has claimed it is owed compensation for Gazprom not pumping a certain volume of gas per year via Ukraine and paying too little for what it did send through the country's pipelines.

Russian President Vladimir Putin has also said the arbitration claims over the deal should be dropped, calling it "nonsense".

There have been several rounds of gas talks in Brussels, however, the meetings have so far failed to bring any tangible results.

Last year, Gazprom supplied Europe with more than 200 billion cubic metres (bcm) of gas, of which 87 bcm went through Ukraine, providing Kiev with valuable transit income.

(Reporting by Vladimir Soldatkin; additional reporting by Pavel Polityuk in Kiev; editing by Jason Neely, Kirsten Donovan)

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Financials (USD)
Sales 2019 121 B
EBIT 2019 20 500 M
Net income 2019 20 880 M
Debt 2019 40 531 M
Yield 2019 5,95%
P/E ratio 2019 4,19x
P/E ratio 2020 4,98x
EV / Sales2019 1,08x
EV / Sales2020 1,09x
Capitalization 90 608 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 4,25  $
Last Close Price 3,97  $
Spread / Highest target 34,8%
Spread / Average Target 7,09%
Spread / Lowest Target -32,0%
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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