In “Gazprom” announced the achievement of bottom gas prices

In his opinion, the export prices for gas will increase after oil quotations. “We have already reached the price bottom, so if the price of oil will not fall, and the price of gas also rises”, – quoted Medvedev “Interfax”.

As previously mentioned, a significant portion of export contracts “Gazprom” is tied to oil prices with a delay of six to nine months. Due to low oil prices and export netback (export price minus transport) for the Russian gas in Europe is almost equal to the prices in Russia, was confirmed in the April report by Sberbank CIB.

According to the analyst “URALSIB Capital” Alexei Kokin, the peak of low prices has already passed. According to estimates of experts, the premium when foreign supplies of “Gazprom” in comparison with the price of the domestic market now accounts for about 20%, whereas until recently the figure was 16%.

The analysts of Sberbank CIB have suggested that the growth of prices for Russian gas in Europe is likely to be limited to the break-even point for us LNG supplies to the European market — $4.5 per 1 million British thermal units (1 MMBtu), or $160 per 1 thousand cubic meters.

As of the evening of 24 may, the price of a barrel of Brent hovered around 48-49 dollars, which is $ 20 above the minimum of the indices of the beginning of this year.