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Gazprom to accede to government request to sell currency earnings

January 16, 2015, 1:36 UTC+3 MOSCOW
Gazprom’s representative also said that the financial state of the gas producer is still stable
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MOSCOW, January 15. /TASS/. Russian gas giant Gazprom acceded to a request made by the government to sell its currency earnings, the company’s official representative Sergey Kupriyanov told the Kommersant FM radio station.

Earlier media reported that the Russian government monitored the market for the sale of currency earnings on a daily basis and addressed the country’s biggest exporters with a request to sell it in time in order to stabilize the situation on the market.

Gazprom’s representative also said that the financial state of the gas producer is still stable. “Naturally, we feel ourselves just like the rest of the country, but we’re comfortable enough despite the drop in oil prices. The gas price decline has some time lag so we are able to make accurate predictions of our cash flow in advance. The falling price of our sales on the foreign markets is largely compensated by the falling rouble, so Gazprom’s financial health is stable enough, despite all the market volatility,” he added.

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