Gazprom predicts a fall in the financial performance of the group's companies due to the coronavirus pandemic, RBC reported.
Gazprom’s net profit for the end of 2019 amounted to 1.203 trillion rubles, 17% less compared to the previous year.
Gazprom expects gas exports to decline by 16.4% in 2020, from 199.2 billion to 166.6 billion cubic meters, said the head of the financial and economic department of Gazprom Alexander Ivannikov.
According to him, the average gas price will fall by 37%, from $ 210.6 to $ 133 per 1 thousand cubic meters.
Gazprom’s forecasts generally comply with the Fitch baseline scenario: oil and gas prices should recover slightly in the third or fourth quarters, but average annual prices will still be very low.
