All news

Russia’s Gazprom eyes strong prospects on Asian market

Gazprom’s deputy CEO links it to the region’s high economic growth rates and the policy of increasing the share of gas in the economy

HONG KONG, February 3. /TASS/. Russian energy giant Gazprom sees great possibilities and prospects on the Asian market as the most attractive for gas supplies, Gazprom’s deputy CEO Alexander Medvedev told TASS on Tuesday.

Medvedev is currently on his visit to Hong Kong for talks with investors. The company holds Investor Days in Hong Kong and Singapore for the first time.

"First, this is a geographical diversification. That’s because Asia is the most attractive and prospective market for both pipeline gas and liquefied natural gas (LNG)," Medvedev stressed, linking this to the region’s high economic growth rates and the policy of increasing the share of gas, including in electric power.

"Second, our target group of investors also has a huge potential. This refers to Asian investors who have both financial resources and the whole infrastructure for investments," Medvedev said.

A number of Gazprom’s successful events in Asia aimed at attracting financing and investments have confirmed the company's wish to work on that market more actively, he said, adding, "We see a great interest on the part of the investors' community. This reflects what is happening in the world and in our company."

Tuesday's meeting proves that Gazprom is indeed "the leader of the global energy community." "This is a global company which has stable revenues, controlled expenses, good investment projects that make Gazprom attractive for investments and cooperation," he said.

Despite the Western sanctions against Russia and the current fluctuations in the value of the ruble, "Gazprom has its feet on the ground," as it has a very balanced portfolio and both domestic and foreign sales, he said.

"We are looking to the future not only with hope, but with certainty and optimism," Medvedev said.

China’s leading Dagong Global rating agency on Monday for the first time assigned to Russia’s Gazprom a "AAA" long-term credit rating, the highest-possible rating, for both local and foreign currencies, with a stable outlook.

The agency’s president, Guan Jianzhong, said this allows Gazprom to place shares in Hong Kong. "The rating reflects a very high potential of the company," he said, adding that Dagong will keep the "stable" outlook for Gazprom’s long-term credit rating over the next 1-2 years.