Gazprom Price Risk Reduced With Higher Spot Rates, Otkritie Says
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OAO Gazprom, Russia’s state-run natural gas exporter, may have reduced the risk of further contract renegotiations by cutting rates for most of its European clients as spot prices rise, Otkritie Capital said.
Prices at European hubs rose on average 28 percent year-to-date, analysts led by Alexander Burgansky, said in a research note today. Otkritie has a buy recommendation on Gazprom stock.