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    GAZP   RU0007661625

GAZPROM

(GAZP)
  Report
End-of-day quote Moscow Micex - RTS  -  2022-07-07
198.00 RUB   +0.04%
09:01aRussian stocks extend recovery, rouble firms towards 58 vs dollar
RE
07:47aAnalysis-Russia's Ukraine gas transit sanction threat a fresh blow for Europe
RE
07:39aSingle line of Nord Stream 2 can still export gas, analysts say
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Exclusive-Russia forecasts export gas price will more than double in 2022

08/17/2022 | 07:44am EDT
FILE PHOTO: Oil tankers sail along Nakhodka Bay near the port city of Nakhodka

MOSCOW (Reuters) - Russia forecasts its average export gas price will more than double this year to $730 per 1,000 cubic meters before gradually falling until the end of 2025, as pipeline gas exports decrease, an economy ministry forecast seen by Reuters showed.

Gas flows from Russia, Europe's top supplier, are running at reduced levels this year after one route was shut when Moscow sent troops into Ukraine in February, some European countries were cut off for refusing to pay for gas in roubles, and a dispute broke out over repairs to a turbine for the Nord Stream 1 pipeline from Russia to Germany. Gas prices have surged as a result.

Russia's economy ministry forecasts that pipeline gas exports by Gazprom will fall to 170.4 billion cubic meters (bcm) this year, compared to its forecast published in May of 185 bcm and versus 205.6 bcm exported - in 2021.

It anticipates the gas volumes will continue to fall beyond this year but did not give any explanation.

As a result of already tight supplies, Gazprom's average gas price was forecast to be $730 per 1,000 cubic meters (cm) in 2022, more than double the $304.6 per 1,000 cm charged last year, and representing a 40% increase compared to the previous forecast of $523.3 per 1,000 cm.

RISING OIL OUTPUT

Russia has started to gradually increase its oil production after sanctions-related curbs and as Asian buyers have increased purchases, leading Moscow to increase its forecasts for output and exports until the end of 2025, the document showed.

Gazprom has also said gas supplies are increasing to China, but has not provided detail and Europe remains by far the bigger market for Russian gas.

Higher oil export volumes, coupled with rising gas prices, would help Russia to earn $337.5 billion and $255.8 billion from energy exports this year and next, respectively. The economy ministry did not reply to request for a comment.

Last year, Russia earned $244.2 billion from energy exports, the ministry said.

Overall, economy ministry forecasts https://www.reuters.com/article/ukraine-crisis-russia-economy-idUKL1N2ZS1CT seen by Reuters earlier this week suggest Russia's economy is dealing with sanctions better than Moscow initially feared and will contract less than expected.

Below is a table of the updated economy ministry forecasts. May forecasts are shown in brackets.

2021 2022 2023 2024 2025

Oil 524.0 515.0 475.0 480.0 485.0

output, (475.3) (472.8) (476.1) (480.5)

mln T

Oil 231.0 243.1 235.5 240.0 240.5

export, (228.3) (224.8) (228.1) (229.5)

mln T

Oil 144.1 130.0 113.0 109.9 110.8

product (115.3) (121.9) (122.9) (122.9)

export,

mln T

Average 69.1 82.7 72.8 66.0 61.3

Urals oil

price, $ (80.1) (71.4) (66.0) (61.2)

per barrel

Gas 763.5 710.9 713.0 730.0 735.0

output, (720.9) (720.0) (730.0)

billion (735.0)

cubic

meters

Pipeline 205.6 170.4 168.0 165.0 155.3

gas (185.0) (175.0) (165.0) (155.3)

export,

billion

cubic

meters

LNG 29.1 30.7 30.7 35.7 37.2

export, (30.7) (30.7) (35.7) (37.3)

mln T

Gas price, 304.6 730.0 471.8 383.9 331.6

$ per (523.3) (381.0) (336.7)

billion (431.1)

cubic

meters

Revenue 244.2 337.5 255.8 230.8 212.7

from (237.2) (220.8) (204.7)

energy (270.4)

export, $

bln

(Reporting by Reuters; editing by Barbara Lewis)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
GAZPROM 0.04% 198 End-of-day quote.-42.32%
LONDON BRENT OIL 2.08% 87.93 Delayed Quote.7.68%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.69% 57.75 Delayed Quote.-21.89%
WTI 2.64% 80.613 Delayed Quote.4.16%
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Financials (USD)
Sales 2021 10 241 B 162 B 162 B
Net income 2021 2 093 B 33 210 M 33 210 M
Net Debt 2021 2 927 B 46 436 M 46 436 M
P/E ratio 2021 0,05x
Yield 2021 1 143%
Capitalization 4 682 B 79 019 M 74 282 M
EV / Sales 2020 1,44x
EV / Sales 2021 1,08x
Nbr of Employees 468 000
Free-Float 50,5%
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Income Statement Evolution
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Mean consensus -
Number of Analysts 0
Last Close Price 198,00
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Spread / Average Target -
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Managers and Directors
Alexei Borisovich Miller Deputy Chairman & Chairman-Management Board
Viktor Alexeevich Zubkov Chairman
Denis Vladimirovich Fedorov Head-Marketing & Administration Department
Yuri Stanislavovich Nosov Head-Administration Department
Timur Askarovich Kulibayev Independent Director
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