Shares began to fall after the European Commission announced that the EU was ready to stop Russian gas transit.
Shares of the Russian gas monopolist Gazprom fell to their lowest since January 2009, down to 106.1 rubles per share, which was 2.4% below Monday’s closing level, The Moscow Times reports.
From the beginning of 2024 papers Gazprom the price fell by 33.5%.
“Stock Gazprom fell to the level of the global financial crisis in 2008. There is still more than 20% to fall to absolute historical minimums,” said HSE professor and investor Evgeniy Kogan.
Shares began to fall about a week ago after the European Commission announced that the EU is ready to stop the transit of Russian gas and does not expect a significant impact on prices.
The expiring transit contract with Ukraine ended at the end of 2019. Then Moscow and Kyiv signed a package of documents between Gazprom And Naftogaz on a new transit agreement for a period of five years with the possibility of extension for another ten years.
According to the terms of the contract Gazprom guaranteed pumping of a total of at least 225 billion cubic meters. m of natural gas: in 2020 and 40 billion cubic meters each. m – in 2021-2024. This year, Ukraine did not hold auctions for the long-term reservation of the gas transmission system on the Russian border. The current transit agreement for pumping gas from Russia expires on December 31.
The decline in exports hurt the company’s profits. Gazprom lost more than 80% of European exports compared to 2021, supplies fell to 28 billion cubic meters.
We remind you that in 2023 Gazprom received a record loss since its inception in 1990 of $6.1 billion.
Source: korrespondent
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