million cubic meters of gas per day
Gazprom: Keep treaty obligation
03/13/2022 10:28 am
Rating agencies consider it likely that Russian commodity groups will default due to Western sanctions. However, Gazprom reaffirms that it will continue to supply gas. Even today, millions of cubic meters would reach Europe again.
Despite the war in Ukraine, the Russian energy company Gazprom is fulfilling its contracts for gas deliveries through the neighboring country to Europe. This Sunday, 109.6 million cubic meters would be pumped through the pipes, said the spokesman for the state energy company Gazprom, Sergei Kupriyanov, according to the TASS agency. The day before it was 109.5 million cubic meters. According to the contract, Gazprom will supply 40 billion cubic meters of gas annually.
Russian President Vladimir Putin recently stressed again that he would not stop oil and gas supplies abroad, despite unprecedented sanctions from the West. Deputy Prime Minister Alexander Nowak had previously threatened to stop deliveries through the Nord Stream 1 Baltic Sea pipeline. Gas prices have recently risen sharply due to the Russian war of aggression against Ukraine and Western sanctions against Russia.
Yesterday the rating agency Fitch downgraded the creditworthiness of Gazprom and 27 other Russian commodity groups and considers a “default of any kind to be likely”. Among them were the oil company Lukoil, the mining companies Rusal, Polyus, Evraz.
They have been downgraded from B to “mainly CC”, meaning it is “likely” that these companies will default on their financial obligations. The rating agency Moody’s had previously downgraded Gazprom and Lukoil accordingly.