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    GAZP   RU0007661625

GAZPROM

(GAZP)
  Report
End-of-day quote Moscow Micex - RTS  -  2022-07-07
198.00 RUB   +0.04%
02:48pTurkStream gas pipeline says Netherlands withdraws licence, to continue gas exports
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02:09pNord Stream leaks spur accusations of 'sabotage'
RE
01:44pMoldova to pay Gazprom late advance payment to avert gas cut off -source
RE
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Russian gas crisis raises credit pressure on European governments

08/11/2022 | 11:04am EDT
Mero central oil tank farm, near Nelahozeves

(Reuters) - A squeeze in Russian gas supplies would threaten the credit ratings of Slovakia, the Czech Republic and Italy, Moody's said in a report on Thursday, while most of Europe would feel the economic effects of a likely spike in natural gas prices.

Russian gas supplies to Europe at the beginning of August were about a third of their level before Russia's invasion of Ukraine, a shortfall only partially offset by higher imports of liquefied natural gas (LNG), the global ratings agency wrote.

If Moscow were to halt all gas supplies, Slovakia and the Czech Republic could see their respective sovereign ratings of A2 and Aa3 jeopardised, Moody's said in its report.

"Beyond the 2022-23 winter season, both face greater infrastructure challenges diversifying away from Russian gas supplies, as both countries are landlocked and thus cannot directly import LNG," it said.

The agency cut Italy's outlook to "negative" weeks after Prime Minister Mario Draghi's resignation shook the country's political landscape and expects disruption to energy supply to heighten its economic and fiscal difficulties.

"Although most European sovereigns could withstand such a shock to energy supplies without immediate rating pressure, the deterioration in their growth and fiscal metrics and increase in sociopolitical risks would weaken their resilience to further shocks," it added.

Hungary, however, faces a low risk of supply cuts, as the state receives most of its gas from the Turkstream pipeline and has maintained cordial relations with Moscow.

"By contrast to the Nordstream 1 or Ukraine transit pipelines, Russian gas supplies through Turkstream are currently one third higher than in May this year," Moody's said.

The agency forecast a cut-off of Russian gas supplies would lead to a contraction of euro area gross domestic product (GDP) of 2.5% to 3.5% next year.

(Reporting by Juliette Portala Editing by Francesco Canepa and Mark Potter)

By Juliette Portala


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
GAZPROM 0.04% 198 End-of-day quote.-42.32%
MOODY'S CORPORATION -2.15% 246.56 Delayed Quote.-36.06%
S&P GSCI NATURAL GAS INDEX -0.13% 321.7062 Real-time Quote.87.08%
All news about GAZPROM
02:48pTurkStream gas pipeline says Netherlands withdraws licence, to continue gas exports
RE
02:09pNord Stream leaks spur accusations of 'sabotage'
RE
01:44pMoldova to pay Gazprom late advance payment to avert gas cut off -source
RE
11:45aPoland imposes sanctions on Russia's Gazprom Export, interior ministry says
RE
06:21aKremlin says Nord Stream gas leaks look like 'act of terrorism'
RE
05:58aEuropean Natural Gas Prices Remain Elevated as Market Frets Over Security of Supply, AN..
MT
05:26aGazprom's Nord Stream 1 Pipeline Likely to Use Repair Equipment from PRSI Pool
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02:43aSwedish Coast Guard Finds Fourth Leak at Nord Stream 2 Pipeline
MT
12:56aFourth leak found on Nord Stream pipelines, Swedish coast guard says
RE
12:40aFourth leak found on Nord Stream pipelines, Swedish coast guard says
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Analyst Recommendations on GAZPROM
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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 80 143 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
Average target price
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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