Gazprom wants to conduct IPO on Chinese stock exchange

Gazprom has made a presentation and meeting with investors in China. In the future, the company hopes to hold an IPO on the Hong Kong Stock Exchange to attract Asian capital. In the meantime, Gazprom assured investors that it would increase production and exports, including through the Asian markets. At the same time, the monopoly recognized that the volume of its investments would fall from $35 billion to $30 billion in 2015 because of unfavorable market conditions, but it wouldn’t’ affect the construction of gas pipelines to China.

Gazprom has held an investor day in Hong Kong, on which it reported that the monopoly’s capital investments would be reduced to $30 billion. The company attributed this to deterioration in business conditions due to the political developments and the market situation. "In general, the development of the market situation creates some difficulties for our business ... but a significant reduction in investments allows us to form a very strong cash flow," - said the deputy chairman of the company’s Board and of chief financial and economic department Andrei Kruglov. According to the presentation of the company, in 2014 its investments amounted to about $35 billion. In 2010-2013, the company's investments were significantly higher and made up about $44 billion on the average. Gazprom notes that the reduction of investments won’t affect the construction of the gas pipelines for supplies to China.

Full text available to premium subscribers only.

Buy full access for 24 hours now


Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer