Russia lost 11 billion dollars on gas sales to Europe



Russia lost 11 billion dollars on gas sales to Europe

The Russian gas monopoly has had bad luck lately. A week ago Poland fined Gazprom over Nord Stream 2, and now it became known that the average customs value of Russian gas exports to Europe in June 2020 fell to $82 per 1,000 cubic meters, which is below the break-even price "Gazprom", according to the Federal Customs Service of Russia.





Since the beginning of the year, the export price of gas has fallen by exactly two times. They paid for a thousand cubic meters of “blue” fuel:

in January — $162
in February — $143
in March — $125
in April — $109
in May — $94

According to Fitch Ratings, the break-even level of Russian gas supplies to Europe is $105 per 1,000 cubic meters (production costs, mineral extraction tax, transit through Russia, transportation to European markets).

As a result, Gazprom's export revenue for the first half of 2020 amounted to $11.3 billion, which is 52.2% less than a year earlier.





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TAGS: RUSSIA, EUROPE, GAS

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