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Gazprom May Include Rouble Settlements Into Export Contracts
September 20, 2015 22:13


“Gazprom” is ready to include the option of rouble settlements into export contracts. This was reported by TASS with the reference to the holding company.

On September 28 the Board of Directors of “Gazprom” will consider the issue of “inclusion of the provisions on the possibility of conducting settlements in Russian roubles in the new export contracts and the establishment of a reasonable minimum share of settlements conducted in Russian roubles”.

The settlements in the national currency may appear as “Gazprom” sells gas on short-term contracts. The gas monopoly started the auction practice for “Nord Stream”. In the future the holding company plans to expand settlements in roubles to other export routes.

As it was stated in mid-September by the company’s Deputy Chairman Aleksandr Medvedev, “Gazprom” may sell up to 10 percent of the volume of gas exports through auction in 2016-2017. In June it was reported that “Gazprom” and CNPC (China National Petroleum Corporation) excluded the US dollar from the settlements for the supply of gas through the western route. In 2014 “Gazprom Export” cut the gas supplies to Europe by 9 percent - down to 146.6 billion cubic meters. Last year the gas of the company cost an average of $ 345 in Europe. The sharp reduction of the price is due to the fall in oil prices.


Author: Anna Dorozhkina

Tags: Gazprom     

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