Fire of fuel tank kills 123 people in Pakistan - TVWorld June 25, 7:58
Muslims worldwide celebrate Eid al-FitrSociety & Culture June 25, 5:18
Mexico knocks out Russia from FIFA Confederations Cup with 2-1 win in KazanSport June 24, 19:59
Putin visits Crimean youth camp ArtekSociety & Culture June 24, 19:42
Conflict around Qatar should be settled by diplomatic means - source at Foreign MinistryRussian Politics & Diplomacy June 24, 16:44
More than 237,000 fans attend Confederations Cup matches already - Deputy PM MutkoSport June 24, 15:03
Sistema's president hopes for dialogue with Rosneft on settlement agreementBusiness & Economy June 24, 14:56
CNN deletes article about meeting between Scaramucci and Russian Direct Investment FundWorld June 24, 13:12
Ukrainian Army units shell Donetsk Republic in first hours of newceasefireWorld June 24, 5:19
MOSCOW, June 09. /ITAR-TASS/. The European market will remain a major source of revenue for Russian gas giant Gazprom even after supplies to China start, Standard & Poor’s rating agency said on Monday as cited by PRIME news agency.
According to a contract with CNPC, Gazprom will supply 38 billion cubic meters of gas annually, while in 2013 supplies to the EU amounted to 174.3 billion cubic meters and domestic supplies 243.3 billion cubic meters.
The price of gas supplied to China is not disclosed, but according to public information it is comparable with the European price. However, operating expenses of developing new gas fields in Eastern Siberia, from where gas flows to China, can be higher than operating expenses of existing fields, which supply Europe, the analysts said.
But the Chinese contract will make Gazprom’s long-term negotiating position with its European customers, who have recently demanded a lower price, firmer.
The contract can also cut China’s future liquefied natural gas needs, which is good for EU LNG buyers. But the analysts consider this consequence as a long-term one, that is why all the concerned parties will have enough time to manage risks.