Gazprom Wants to Pump More Gas to Europe
The Russian energy company Gazprom wants to pump more gas through Ukraine towards Europe. A daily volume of 124.2 million cubic meters is planned for March. That comes from the data of an auction for the monthly transport capacities, as the agency Interfax reported on Monday in Moscow. Originally, 110 million cubic meters of gas per day were planned.
For the current month of February, the Russian gas giant had also booked 124.2 million cubic meters per day. However, that is less than a year ago. The background is that Russia wants to avoid Ukraine as a transit country. In 2019, after tough negotiations, a new five-year contract was concluded. Accordingly, Gazprom undertakes to deliver at least 40 billion cubic meters of its natural gas to the West via Ukraine this year. In 2019 it was 89.6 billio
According to data from the German Gas Association, gas storage facilities are currently 34 percent full. Because of the frosty weather, there was significantly more heating this winter than a year ago. From the point of view of experts, the gas storage tanks are not unusually empty: In April 2018, for example, after a particularly cold February, the level was only 14 percent.
Growing gas demand from Europe and rising energy prices – things are currently going well again for Gazprom. It is therefore hardly surprising that the price is about to jump to a new multi-month high and thus also a fresh buy signal. Courageous investors can still access the share, which is still very favorably valued with a P / E ratio of 6 and a P / E ratio of 0.4 (stop: 3.60 euros).
Gazprom Wants to Pump More Gas to Europe - /10