Russian Gas Still Flowing to Europe via Ukraine, Says Gazprom CEO
Gazprom CEO Aleksey Miller Confirms Continued Supply of Russian Gas to EU
A recent revelation by Gazprom’s CEO, Aleksey Miller, has confirmed that Russian gas is still being supplied to the EU, contrary to the claims of several European nations. Miller stated that the gas reaches Europe through a Ukrainian route and is distributed after reaching Austria’s Baumgarten hub.
European Efforts to Reduce Reliance on Russian Gas
European countries have been vocal about reducing their reliance on Russian energy, especially after the Nord Stream pipeline destruction in 2022 and subsequent supply challenges. However, Miller’s recent comments indicate that Russian gas has not been entirely phased out from the European market.
Continued Supply of Russian Gas via Ukraine
Miller detailed that the continued supply of Russian gas to Europe is facilitated via infrastructure at the Russian compression station of Soudja, which then transits through Ukraine. This route remains active despite earlier claims suggesting a cessation of Russian gas deliveries.
Gazprom’s Financial Standing and Market Position
As of the last twelve months of Q4 2022, Gazprom has a market cap of 43178.74M USD and trades at a low earnings multiple with a P/E ratio of 3.32. The company’s strong financial standing is evident from its impressive gross profit margins, which stood at 76.02% for the same period.
InvestingPro Insights and Tips for Gazprom
InvestingPro provides insightful data and tips for potential investors considering Gazprom. Despite the ongoing geopolitical tensions, Gazprom’s liquid assets exceed its short-term obligations, indicating a healthy financial position. However, it’s worth noting that Gazprom does not pay a dividend to shareholders.
In conclusion, the recent statements by Gazprom’s CEO highlight that the transition away from Russian gas may be more gradual than previously communicated by EU officials. The ongoing situation underscores the complexities of Europe’s energy landscape and its continued entanglement with Russian energy resources.
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