четвъртък, 29 септември 2016 г.

Quoted in FT - Neil Buckley - Russia play Gazprom geopolitical game

Neil has given the gist of our exchange - Russia at a political level is still drifring towards a strategic opening and try to sow mistrust between Germany and its Eastern neighbours. On a more pragmatic and business level - a restructuring is taking place to cut on non-essential operations and costs. The company is expected to be in red at the end of the year or showing meager profit.The deal for The Eastern Europeans - loose transit fees and buy more expensive gas from Germany. 
However Gazrpom economically is "on the ropes" and unless some miracle happens with Kremlin funding the project there is no way the company could afford to finance it on its own.
In order to understand the fate of Nord Stream-2 one has to consider the overall financial and credit status of the Gazprom and the plethora of projects no less strategic than NS-2 it needs to fund - Altai and Power of Siberia - just to name a few. 
The Chinese have backtracked on initial zeal to provide upfront loans.
Doom and gloom.

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