Monday, September 5, 2016

Putin explained why “Gazprom” can not be sold – BBC

Russia has no intention to sell “Gazprom”. This was stated by Russian President Vladimir Putin in an interview with Bloomberg. “This is due to the peculiarities of the Russian economy, social sphere and Energy”, – he explained.

According to Putin, Russia does not lose faith in “Gazprom”, despite the fact that over the last ten years the company has lost 80% of capitalization in dollar terms. The President also noted that the company “clearly underestimated»

Ten years ago -. In 2006 – the peak value of the shares of “Gazprom” on the Moscow Stock Exchange was achieved on May 10 (when they were worth 331.8 . rubles apiece) on the London Stock Exchange a little earlier – 6 May ($ 23.7). On Monday, September 5, the paper of the gas monopoly at the Moscow stock exchange worth 136 rubles, on the London -. $ 4.14. The capitalization of the company amounted to 3.225 trillion rubles. . And $ 49.389 billion

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Thus, the drop in share price us dollar really close to 80%, but in rubles, the company lost only about 60.5%. This is due to the change in the dollar exchange rate, which is 6 May 2006, according to the Central Bank, amounted to 27.12 rubles., And to date, the US currency traded at 64.76 rubles.

According to Putin, fall in the value of “Gazprom” took place against the backdrop of shale gas production growth in the United states, stagnation in the Russian monopoly of the economies of major European customers and a collapse in oil prices.

By the way, in early June 2008 Chairman of the Board of “Gazprom” Alexey Miller He predicted that in seven or eight years (ie in time for the current moment) the capitalization of “Gazprom” will reach $ 1 trillion. It was in 2008, shares of “Gazprom” set a record in May on the Moscow Stock Exchange the price reached 367.4 rubles per share, and in June in London, the peak was $ 29.95

According to one of the minority shareholders of “Gazprom” , buyers of the shares of the gas monopoly would find difficult. “Now the company is abnormally cheap, however, if the oil starts to go up, and will address the issue with the Ukrainian transit, the market can expect to increase the capitalization of” Gazprom “in two or even three times”, – says the source “Gazety.Ru» <-! place 10161053, / business / 2016/08/26 / 10161053.shtml, nm2015 / v2 / article / incut, incut3_link ->

Russia has repeatedly stated that it intends not to renew expiring at the end of 2019 transit contract with Ukraine. According to the minority shareholder, it does not matter how it will address the question – whether to save the transit or will be put into operation an alternative pipeline (eg, “Turkish Stream” and “Nord Stream – 2″), as long as the situation is resolved.

Director General of the national energy security Fund Konstantin Simonov said that the price of “Gazprom” is straying speculative.

«It’s a real asset to the world’s largest proven gas reserves (36 trillion cubic meters, according to the company -.” Times “), but the market reacts to the constant stuffing in the spirit of” Turkmen / Iranian / American gas will press Russia “, – he explains. – This has been going on for many years, resulting in investor minds create an image of “Gazprom” as a company with no prospects. ” In reality, as indicated by Simonov, “Gazprom” today reached a record share of the European market – 31%.

But the main problem with the privatization of “Gazprom” is not low share price. “The government will not agree to the loss of control of the company”, – said a minority shareholder in the Russian gas monopoly

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Now the state owns 50.232% of “Gazprom”, so even 1% of the sale will reduce the government stake to below a controlling stake

In addition, the privatization of the gas giant will. mean its inevitable restructuring. Konstantin Simonov pointed out that as a private company “Gazprom”, for example, would not have engaged in gasification of the region, since it is not profitable.

«Plus, the sale of mining assets will to an increase in gas prices “, -. warns CEO FNES

Director General of East European gas Analysis Mikhail Korchemkin, on the contrary, notes that if” Gazprom “on gas transportation company owned by the State, and several private mining companies, their total market value is several times higher than the current

«But contractors single” Gazprom “may not like it, that the division of the company will increase the transparency of investment decisions”, -. said the expert

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