Gazprom Sees Export Price Above $200/'000 m3 in 2021
Russia's Gazprom expects the price of its gas exports to average more than $200/'000 m3 in 2021, the head of the company's finance department, Alexander Ivannikov, said during a conference call on February 9.
However, the state gas supplier's budget assumes an export price of only $170/'000 m3, he said. Gazprom saw record sales to European countries beyond the former Soviet Union of 19.4bn m3 in January, up 45.4%, due to cold weather. This has altered its forecasts for the year. The bulk of Gazprom's sales in Europe are linked to spot prices, enabling the company to capitalise on bullish market conditions last month.
Ivannikov added that the company was considering ways of reducing its debts in 2021. The company's net debt to Ebitda ratio on a four-quarter rolling basis increased to 3.0 in the third quarter of last year, from 2.7 three months earlier.