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Gassyprom does not innovate. It is dependent on the market only. Just like OPEC.
It's even worse: Gazprom is basically an arm of Russian government used for (misguided) political ends.
"Gazprom's defeat had been in fact "pre-programmed" by the company itself, suggested Mikhail Krutikhin, a partner with Moscow consultancy RusEnergy. In an interview with DW, he said that in 70 percent of cases over the last four years, consumers of Russian gas in Europe had succeeded in getting the terms of their contracts with Gazprom reviewed, including requirements envisaged by the take-or-pay clause. In all those cases, the Russian company made concessions in out-of-court settlements. Gazprom, however, demonstrated "an absolute inflexibility" in its deal with Ukraine, Krutikhin said.
Krutikhin believes that Russia's tough position in this case has political reasons: "What was going on in relations between Gazprom and Naftogaz is a purely political situation. Gazprom acted as the Kremlin's political instrument, and not as a normal company."
Yes, this all makes sense. Gazprom is only worth 51B while doing 100B of revenue and paying 6% dividend. Chevron is worth 245B while doing 134B in revenue and paying 4% dividend. How are those companies different again besides being located in different countries?
So sad. Damn Americans........why did they develop fracturing?
Burn million year old carbon quickly,no consequences.
US considering sanctions on Nord Stream 2 firms: report
If Russia hadn't bullied Poland, and others, so much, they wouldn't have to build this pipeline.
If Russia hadn't bullied Poland, and others, so much, they wouldn't have to build this pipeline.
Booger saysIf Russia hadn't bullied Poland, and others, so much, they wouldn't have to build this pipeline.
The idea behind these "bypass" pipelines is to open the door to full-blown attack on Ukraine. As things stand now they can't do it because the transit pipeline would most definitely be blown up in many places thus effectively ending Russian gas exports to Europe.
Because a pipeline in the Baltic can't be attacked???
Russians would not blow up pipeline in Baltic, but provide they have alternative means of gas transport they will blow up pipeline in Ukraine themselves (via their proxies in E. Ukraine).
What's stopping someone from attacking a pipeline in the Baltic?
rd6B saysRussians would not blow up pipeline in Baltic, but provide they have alternative means of gas transport they will blow up pipeline in Ukraine themselves (via their proxies in E. Ukraine).
What's stopping someone from attacking a pipeline in the Baltic?
What does this mean for the Iranian Oil Bourse? Will it still replace the USD in Energy Trades with the CoronaRenMenBi?
Yeah, have been reading about this at ZH for ten years now. Soon, very soon all oil trade will be denominated in [rubles], or [dinars], or [kauri seashells], and US of A economy will die a flaming death.
Gassyprom does not innovate. It is dependent on the market only. Just like OPEC.
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"
How Russian energy giant Gazprom lost $300bn.
It was not too long ago that Gazprom, Russia’s state-controlled energy conglomerate, was one of the Kremlin’s most powerful weapons. But those days now seem like a distant memory. Today, Gazprom is a financial shadow of its former self.
The speed of Gazprom’s decline is breathtaking. At its peak in May 2008, the company’s market capitalisation reached $367bn (£237bn), making it one of world’s most valuable companies, according to a survey compiled by the Financial Times. Only fellow Exxonmobile and PetroChina were worth more. Gazprom’s deputy chair Alexander Medvedev repeatedly predicted that within a decade the Russian energy giant could be worth $1 trillion.
That prediction now seems foolhardy. Since 2008, Gazprom’s value has plummeted. In early August it had a market capitalisation of $51bn – losing more than $300bn. No company among the world’s top 5,000 has suffered a bigger collapse, Bloomberg Business News reported in April 2014, and by the end of the year net income had fallen by an astonishing 86%.
Though share prices have rallied slightly since, indicators suggest Gazprom has further to fall. Lingering uncertainty raises questions about whether it can survive, with production continuing to tumble downward.
So what happened? Why is a company with the world’s largest gas reserves, operating in a country bordering China and the European Union – two of the world’s top energy consumers, performing so badly?"
http://www.theguardian.com/world/2015/aug/07/gazprom-oil-company-share-price-collapse