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MarketScreener Homepage  >  Equities  >  Moscow Micex - RTS  >  Gazprom    GAZP   RU0007661625

GAZPROM

(GAZP)
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Public Joint Stock Gazprom : Gazprom and VNG discuss issues related to gas supplies

10/21/2020 | 01:00pm EST

Release

October 21, 2020, 15:55

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Ulf Heitmueller, Chairman of the Executive Board of VNG, took place today via a video conference call.

The parties discussed relevant issues of cooperation. It was noted that the amounts of gas supplied by Gazprom to Germany in August, September, and the first 20 days of October 2020 were higher than the amounts supplied in the same periods of 2019 by 30.1 per cent, 6.4 per cent, and 7.3 per cent, respectively.

Attention was also paid to the joint efforts made by the companies in the project for the creation of the Jemgum underground gas storage (UGS) facility in northwestern Germany. This past August, construction of the facility was completed, and the storage was brought to its design capacity of 900 million cubic meters of gas. Thanks to increased storage capacities, gas supplies to consumers become more reliable in the periods of peak winter demand.

Alexey Miller and Ulf Heitmueller also reviewed issues related to sci-tech cooperation.

Background

VNG is engaged in natural gas imports, underground storage and consumer supplies in Germany's eastern federal states and in Berlin.

In 2013, Gazprom and VNG entered into the Sci-Tech Cooperation Agreement effective until the end of 2029.

In 2019, the General Terms of Gas Supply to VNG Handel & Vertrieb (a subsidiary of VNG) were signed. According to the document, Gazprom will supply up to 3.5 billion cubic meters of gas per year to VNG Handel & Vertrieb in 2021 and 2022.

Information Directorate, Gazprom


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Disclaimer

OAO Gazprom published this content on 21 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 October 2020 16:59:01 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 82 765 M - -
Net income 2020 1 392 M - -
Net Debt 2020 49 512 M - -
P/E ratio 2020 1 682x
Yield 2020 0,06%
Capitalization 4 361 B 56 958 M -
EV / Sales 2020 53,3x
EV / Sales 2021 47,5x
Nbr of Employees 473 800
Free-Float 50,5%
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 2,99 $
Last Close Price 184,45 $
Spread / Highest target -97,8%
Spread / Average Target -98,4%
Spread / Lowest Target -98,8%
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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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