• Home
  • City
    • ALBANIA
    • AMSTERDAM
    • ANDORRA
    • ANNECY
    • ANTWERP
    • ATHENS
    • AUSTRIA
    • AVIGNON
    • BARCELONA
    • BELARUS
    • BELGIUM
    • BERLIN
    • BILBAO
    • BORDEAUX
    • BRNO
    • BRUSSELS
    • BUDAPEST
    • BULGARIA
    • CAEN
    • CALAIS
    • CROATIA
    • CZECH_REPUBLIC
    • DEBRECEN
    • DENMARK
    • DIJON
    • DUBLIN
    • ESTONIA
    • FINLAND
    • FLORENCE
    • FRANKFURT
    • GENEVA
    • GENOA
    • GERMANY
    • GLASGOW
    • GREECE
    • HANNOVER
    • HELSINKI
    • HUNGARY
    • ICELAND
    • INNSBRUCK
    • IRELAND
    • ISTANBUL
    • KRAKOW
    • LIECHTENSTEIN
    • LILLE
    • LIMERICK
    • LISBOA
    • LITHUANIA
    • LONDON
    • LUXEMBOURG
    • LYON
europe-cities.com
  • Home
  • City
    • ALBANIA
    • AMSTERDAM
    • ANDORRA
    • ANNECY
    • ANTWERP
    • ATHENS
    • AUSTRIA
    • AVIGNON
    • BARCELONA
    • BELARUS
    • BELGIUM
    • BERLIN
    • BILBAO
    • BORDEAUX
    • BRNO
    • BRUSSELS
    • BUDAPEST
    • BULGARIA
    • CAEN
    • CALAIS
    • CROATIA
    • CZECH_REPUBLIC
    • DEBRECEN
    • DENMARK
    • DIJON
    • DUBLIN
    • ESTONIA
    • FINLAND
    • FLORENCE
    • FRANKFURT
    • GENEVA
    • GENOA
    • GERMANY
    • GLASGOW
    • GREECE
    • HANNOVER
    • HELSINKI
    • HUNGARY
    • ICELAND
    • INNSBRUCK
    • IRELAND
    • ISTANBUL
    • KRAKOW
    • LIECHTENSTEIN
    • LILLE
    • LIMERICK
    • LISBOA
    • LITHUANIA
    • LONDON
    • LUXEMBOURG
    • LYON

RUSSIA

Russia will not receive super profits from record gas prices in Europe – Secret of the firm

Sugar Mizzy October 1, 2021

“The export duty on gas is 30% of its selling price. If we assume that the sales price in Europe is $ 310 per thousand cubic meters (slightly higher than Gazprom’s conservative forecast of $ 270 per thousand cubic meters), and the volume is 183 billion cubic meters, then the volume of export duties from the European direction alone will amount to about $ 17 billion. “- said Kaufman. He recalled that in 2020, the volume of duties on sales to non-CIS countries, including China, amounted to 422 billion rubles, or $ 5.8 billion at the current exchange rate.

“Increased income tax. It should be noted that the relatively low selling price of Gazprom is associated with partial pegging to more distant contracts than spot contracts, as well as partial oil pegging, ”the expert added.

Thus, even deliveries under long-term contracts will not give huge revenues to the budget from exports to Europe.

Marcel Salikhov, director of the Center for Economic Expertise of the ISMU National Research University Higher School of Economics, confirmed that the price of $ 1,200 per thousand cubic meters on the futures market does not mean that Gazprom sells gas to European buyers at the same prices.

“Gazprom’s contracts are tied to a greater extent to long forwards, rather than spot prices. Although the EU is a key market for Gazprom (about 80% of pipeline gas exports), there are other markets, ”Salikhov added.

He cited the example of Belarus, which receives gas at prices below the current price level in the EU. A similar situation is observed with shipments in China. According to the Federal Customs Service, in July 2021, the average export price of Russian pipeline gas was $ 245 per thousand cubic meters, and the TTF spot price was $ 466.

“Thus, the effective export price is lower than the spot price level. We estimate that in 2021 the average price for Russian gas exports is about $ 280-300 per thousand cubic meters (in 2020 – $ 124). This will lead to an increase in the duty, amounting, according to our estimates, to about 1.1 trillion rubles, that is, 2.3 times more than last year and 60% more than the proceeds of 2019 ”.

According to him, another channel will be the growth of Gazprom’s profits, which means an increase in income tax.

“In 2020, Gazprom’s net profit amounted to RUB 135 billion. Income tax payments amounted to RUB 29 billion. “That is, the effective income tax rate was 21% (29/135),” Salekhov said.

In 2021, against the background of record high prices, the expected profit of Gazprom reached 2 trillion rubles. Accordingly, the tax payment for the size is about 420 billion rubles, the expert added.

Putin on gas prices

In early September, Russian President Vladimir Putin noted that countries that have signed long-term gas contracts with the Russian Federation may “rub their hands”. He explained that such states receive Russian blue fuel cheaper in terms of world energy prices.

“On the free market in Europe – $ 650 per thousand cubic meters. It was the clever guys who invented the market pricing for gas in the last European Commission. And here is the result for you. But our approach is different, we also have market pricing, this price is tied to the price of oil. Nobody regulates it, the market is regulated, but the fluctuations are softer, ”Putin said.

He recalled that in the same Germany, Gazprom sells gas at $ 220 (at that time) per thousand cubic meters. The price will rise in line with the rise in oil prices.

Photo: Pixabay, Pixabay License

Related Posts

RUSSIA /

Japan’s inhumane sentences: why Russia restricted access to the South Kuriles

RUSSIA /

Washington worries that Russia will provide Iranian drones

RUSSIA /

Nabiullina develops to declassify data on the Russian economy – DW – 01/29/2023

‹ Evergreen misery spreads to Sweden › Balès and Nanai-Williams input partners

Recent Posts

  • Erdogan may approve Finland’s NATO bid, ‘shocks’ Sweden – 104.5 WOKV
  • Erdogan says that Finland can join NATO without Sweden
  • Erdogan says that Finland can join NATO without Sweden
  • Solid season opening for Mark English in Sweden
  • HC Sparta Prague » PLZ – SPA 4:3sn

Categories

  • ALBANIA
  • AMSTERDAM
  • ANDORRA
  • ANNECY
  • ANTWERP
  • ATHENS
  • AUSTRIA
  • AVIGNON
  • BARCELONA
  • BELARUS
  • BELGIUM
  • BILBAO
  • BORDEAUX
  • BRNO
  • BRUSSELS
  • BUDAPEST
  • BULGARIA
  • CAEN
  • CALAIS
  • City
  • COLOGNE
  • COPENHAGEN
  • CORK
  • CROATIA
  • CZECH_REPUBLIC
  • DEBRECEN
  • DENMARK
  • DIJON
  • ESTONIA
  • FINLAND
  • FLORENCE
  • FRANKFURT
  • GENEVA
  • GENOA
  • GREECE
  • HELSINKI
  • HUNGARY
  • ICELAND
  • INNSBRUCK
  • ISTANBUL
  • KRAKOW
  • LIECHTENSTEIN
  • LISBOA
  • LITHUANIA
  • LUXEMBOURG
  • LYON
  • MALTA
  • MARSEILLE
  • MILAN
  • MOLDOVA
  • MONACO
  • MUNICH
  • NAPLES
  • NETHERLANDS
  • NICE
  • NORWAY
  • PARIS
  • PISA
  • POLAND
  • PORTUGAL
  • PRAGUE
  • ROME
  • ROUEN
  • RUSSIA
  • SALZBURG
  • SAN_MARINO
  • SIENA
  • SLOVAKIA
  • SLOVENIA
  • STRASBOURG
  • SWEDEN
  • SWITZERLAND
  • THESSALONIKI
  • TOULOUSE
  • TURKEY
  • UK_ENGLAND
  • UKRAINE
  • VENICE
  • VERONA
  • VIENNA
  • WARSAW
  • ZURICH

Archives

  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • May 2011
  • April 2011
  • March 2011
  • November 2010
  • August 2010
  • July 2010
  • September 2008
  • June 2008
  • April 2008
  • March 2007
  • January 2002
  • January 1970

↑