Gazprom expects export price of $199 per 1,000 cm in 2016; $169 in adverse scenario
MOSCOW. Jan 30 (Interfax) - Gazprom has laid down in its 2016 budget an average price for gas exports outside the CIS of $199 per 1,000 cubic meters, after $243 in 2015, according to a presentation document prepared ahead of the Investor Day next Monday, which was seen by Interfax.
Under a stress scenario, the 2016 price for gas deliveries will be $169, the document says.
The budget is based on an oil price at $50 per barrel and $35 (stress scenario) after $52.3 in 2015.
The ruble exchange rate in 2016 is laid down at 63.3 rubles per US dollar (76.7 rubles under a stress scenario) after 60.7 rubles per US dollar in 2015.
The company sees as favorable factors on the European market "the increased competitiveness of natural gas as opposed to coal, the decline in gas production in Europe, the failure of shale gas projects in Europe, a new driver of gas demand - the transport sector, including bunkering; restoring gas demand in the energy sector, tougher environmental legislation, the environmental advantages of natural gas as opposed to coal," the company said..
The negative factors: "European energy and political regulators insist on diversification of energy sources, subsidizing renewable energy sources, developing LNG reception projects."
Among the new priorities of the company's strategy are: "optimization of the portfolio of gas purchases in Central Asia, a focus on competition on the Russian market, greater flexibility in export contracts."