Exec: Gazprom expects avg export gas price above $200 in 2021

MOSCOW, Feb 9 (PRIME) -- Russian gas giant Gazprom expects an average export price for its natural gas to exceed to U.S. $200 per 1,000 cubic meters in 2021, Alexander Invannikov, head of the company’s financial department, said in a conference call on Tuesday.

“The budget we approved in December 2020 was built on an export price of around $170 per 1,000 cubic meters, but now, given the results of January, we may definitely say that we expect the average annual export price for gas of $200 plus. I mean significantly above $200, which exceeds previous pricing guidelines and scenarios included in the budget for next year by more than $30,” he said.

He also said that the company was considering options for reducing 2021 borrowing and, correspondingly, the company’s debt burden.

“We plan a decrease of the debt burden in 2021, if we see stable high gas prices in Europe. We are considering cutting the debt planned for 2021 and in general the debt burden that Gazprom has today if the volumes and prices that are currently on the market remain consistent,” he said.

End