Gazprom to Post Worst Fourth Quarter of the Century

Gazprom will report the worst fourth quarter of this century, argues a note by East European Gas Analysis, foreseeing dare consequences also in the coming months.  

‘Daily export flows of the first two weeks of January 2015 are lower than the flows of December 2014’ explains the consulting company.

According to the consultancy firm, Gazprom's fourth quarter would be sensibly worse than the third, with exports to Europe down 29% with respect to the same period of 2013.

Similarly, gas exports revenue will be affected.  

‘Gas export revenue is likely to be about a third lower than in Q4-2013.’

Russian economy continues its slump. 

On Monday, Moody’s Investors Service downgraded ratings of three major Russian banks, following a similar downgrade of Russia’s government born rating. Sberbank, Vnesheconombank and Agency for Housing Mortgage Lending are the three institutions affected by Moody’s decision.

European authorities are now discussing the strategy to adopt in Ukraine and Russia. EC High Representative Federica Mogherini made clear that she wants to bring forward a plan not only based on sanctions.