Insight
How will Gazprom monetise its gas in future?
Report summary
Gazprom is heading towards a vicious cycle of lower export volumes to Europe and lower revenues. Gas production has fallen. The Russian state company’s pivot to China will accelerate to make up for lost revenues. But will it be enough? We assess the key issues for Gazprom over the coming decade: • Gas exports - by how much will deliveries fall to Europe and rise to China? • Strategic partnerships - could China get involved in Gazprom’s upstream and midstream? • Russia’s domestic gas market - what is the growth potential? • Alternative monetisation options - what role will LNG and neighbouring countries play? • Production risks - where could Gazprom cut production and what are the consequences?
Table of contents
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Executive summary
- Gas exports to Europe are plunging
- Is LNG a monetisation option?
- Can China come to Gazprom’s rescue?
- Is there a role for China in Gazprom’s upstream gas business?
- What role can the Russian domestic gas market play?
- Could neighbouring countries play a role in monetising Russian gas?
- Where could Gazprom be obliged to cut production?
Tables and charts
This report includes 7 images and tables including:
- The historical importance of Europe to Gazprom
- Russia's categorisation of 'unfriendly countries'
- Russia's major gas export routes to Europe
- Gazprom’s piped gas export revenues to Europe set to take a tumble
- 2035 indicative wellhead netback outlook (2022 real terms)
- Existing and proposed gas export routes to China
- Gas fields of interest in Nadym-Pur-Taz and Yamal Peninsula
What's included
This report contains:
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