Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Gazprom Price Risk Reduced With Higher Spot Rates, Otkritie Says

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.

The U.K.’s National Balancing Point prices approached $391 per 1,000 cubic meters last week, in line with those of Gazprom’s long-term contracts, according to Otkritie. Rates at the three main continental hubs in Belgium, Germany and the Netherlands, were 3 percent to 5 percent below Gazprom’s prices, Otkritie said.

Gazprom, which supplies about a quarter of Europe’s gas and sticks to oil-indexed prices, has already renegotiated contracts accounting for about 95 percent of its gas sales to the continent, according to Otkritie. Gazprom reduced prices by 5 percent to 7 percent, while “price adjustments for certain individual contracts were higher,” the bank said.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.