Price Slump Menaces Gazprom Spending

摘要

Crashing export prices to Europe could threaten Russian Gazprom's ability to push ahead with its planned suite of gas investments (WGI Feb. 11'15). The economic development ministry has warned that average prices of the company's European gas sales could slump in 2015 by 37% year-on-year to $222 per thousand cubic meters, or just $6.20 per million Btu. That's about $1.50/ MMBtu lower than European spot pric- es now, although spot prices could themselves fall over the summer provided there are no supply disruptions. WGI estimates that West European buyers are now paying Gazprom between $8.20 and $9.80/MMBtu.