Bloomberg: Gazprom Seen Gaining Up to $2 Billion as Netherlands Cuts Output

OAO Gazprom may increase natural gas deliveries to the European Union and add as much as $2 billion to operating profit as the Netherlands cuts output at its biggest deposit, according to Sberbank CIB.

The Russian company, one of the suppliers to the EU that isn’t experiencing an output squeeze, is set to fill most of the gap, according to Oleg Maximov, Alex Fak and Valery Nesterov, analysts at the Moscow-based investment bank.

The decrease “comes at a time when Gazprom’s major competitors on the European market (Norway, Algeria and Libya) are facing output crunches of their own, while the price of Qatari LNG is elevated due to a demand surge in Asia,” they wrote in a report today.  MORE