The Life of Cramer 215
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Gazprom raises estimate of Europe-bound gas exports to 158 Bcm
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Russia's Gazprom has actually elevated its projection for natural gas exports to Europe and also Turkey to 158 billion cubic meters in 2015 as everyday elections by consumers are going beyond last-year degrees, with the ordinary cost of Gazprom's gas estimated at Eur195.9/ 1,000 cu m ($ 221.7/ cu m) for the upcoming winter.
" The current projection sees gas exports at over 158 billion cubic meters," Gazprom's replacement CEO Alexander Medvedev said Monday.
The figure includes quantities that were sold through the business's first-ever auction recently, he stated.
Gazprom raised its projection as it sees stable need for its gas, with the existing everyday offtake surpassing last-year levels, Medvedev informed press reporters at a rundown.
" We see that [the firm's consumers] are taking up to 100 million cu m/day currently, which is higher than [in the same duration of] 2014," he claimed.
Medvedev likewise stated that Gazprom estimates its gas cost will certainly balance Eur195.9/ 1,000 cu m in the upcoming winter season.
HEDP 60 is the average rate for all the shipments, including under long-lasting, oil-indexed agreements as well as to the place markets, Medvedev claimed.
Medvedev was pleased with the outcomes of recently's auction, at which Gazprom sold 1.23 Bcm of gas for Eur250 million, with the rate "surpassing our typical price for distributions to all the markets," consisting of for exports, and in Germany specifically, he said.
Gazprom formerly increased its projection for gas exports to Europe and also Turkey in 2015 to 153-155 Bcm after strong second-quarter results. Its previous forecast was 152-153 Bcm
Actual exports to those markets completed 159.4 Bcm in 2014.
The first lower forecast was based upon weak demand in the very first quarter, when acquisitions in those markets dropped 20% year-on-year amidst assumptions of future reduced prices for Russian gas under long-lasting agreements.
In early June, Medvedev approximated the average cost for European customers at $240-$242/1,000 cu m for the year.
" The current projection sees gas exports at over 158 billion cubic meters," Gazprom's replacement CEO Alexander Medvedev said Monday.
The figure includes quantities that were sold through the business's first-ever auction recently, he stated.
Gazprom raised its projection as it sees stable need for its gas, with the existing everyday offtake surpassing last-year levels, Medvedev informed press reporters at a rundown.
" We see that [the firm's consumers] are taking up to 100 million cu m/day currently, which is higher than [in the same duration of] 2014," he claimed.
Medvedev likewise stated that Gazprom estimates its gas cost will certainly balance Eur195.9/ 1,000 cu m in the upcoming winter season.
HEDP 60 is the average rate for all the shipments, including under long-lasting, oil-indexed agreements as well as to the place markets, Medvedev claimed.
Medvedev was pleased with the outcomes of recently's auction, at which Gazprom sold 1.23 Bcm of gas for Eur250 million, with the rate "surpassing our typical price for distributions to all the markets," consisting of for exports, and in Germany specifically, he said.
Gazprom formerly increased its projection for gas exports to Europe and also Turkey in 2015 to 153-155 Bcm after strong second-quarter results. Its previous forecast was 152-153 Bcm
Actual exports to those markets completed 159.4 Bcm in 2014.
The first lower forecast was based upon weak demand in the very first quarter, when acquisitions in those markets dropped 20% year-on-year amidst assumptions of future reduced prices for Russian gas under long-lasting agreements.
In early June, Medvedev approximated the average cost for European customers at $240-$242/1,000 cu m for the year.
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