Russia Sees Bleak Outlook for Gazprom Gains in Europe
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OAO Gazprom, the biggest natural gas producer, will probably see lower gains in Europe for at least four years as weaker oil prices and rising competition threaten to further cut its profits, a government forecast showed.
Gazprom’s average price in Europe may drop to as little as $187 per 1,000 cubic meters next year, the Russian Economy Ministry said Thursday. That would be the lowest level since 2004 and 23 percent less than Gazprom’s 2015 forecast of $242.