Page 22 - FSUOGM Week 32

FSUOGM NEWS IN BRIEF FSUOGM

RUSSIA the country's state-run oil and gas company 55bn cubic meters, running from the Russian
Naftogaz, said on August 7. shore to Germany under the Baltic Sea.
Gazprom could lower seven rather big companies will operate Russian gas giant Gazprom is implementing
"I really expect that in 2-3 years, five to
the project together with Germany’s E.ON
dividends on high leverage in this market, each of, which will offer a and BASF, Royal Dutch Shell, OMV, and
France’s Engie. The length of the pipeline’s
high-quality and wide range of services and
Russian natural gas giant Gazprom could products," Kobolev said on the air of Ukraine route exceeds 1,200 km.
lower the dividends for 2020 as record-low 24 Channel. Uniper invested 700mn euros out of the
gas prices in Europe could push the leverage Meanwhile, he stressed that companies pledged 900mn euros as of the end of May.
of the company above the threshold of 2.5x, that cannot meet the needs of clients have Russian Senator Oleg Morozov said that
Kommersant daily writes on August 5. nothing to do in this market. Nord Stream-2 will be completed regardless
As reported by bne IntelliNews, Gazprom "There are quite a lot of traders in the of U.S. sanctions against the project. "Nord
posted its first quarterly loss since 2015 Ukrainian market. This is not an easy Stream-2 has no alternative for several
in 1Q20, as the coronavirus (COVID-19) business. It requires high-quality gas supply, European states, this is why it will be
pandemic caused its European sales to a supply portfolio, customer service, money finalized no matter the difficulties," Morozov
collapse, and ruble devaluation led to hefty and capital. Therefore, the changes that will said.
foreign exchange losses. But the company occur in the near future - small traders who
still maintained its dividend policy. do not bring any value to consumers and
The analysts surveyed by Kommersant cannot offer them at least a decent level of
believe that the net debt to Ebitda leverage of Internet service, will become uncompetitive," CENTRAL ASIA & SOUTH
Gazprom is likely to tip over 2.5x by the end Kobolev concluded.
of 2020, which would allow the company to CAUCASUS
pay less than 40% of IFRS net profit.
The state controls little over 50% of Uniper warns of risk that SOCAR AVIATION launched
Gazprom (38.37% directly and 10.97%
through state holding Rosneftegas, controlled Nord Stream 2 may not be its own refueling facilities
by Rosneft's CEO Igor Sechin), while another
50% is free-floated. completed at Milas-Bodrum Airport
According to the dividend strategy
adopted in the end of 2019, Gazprom would Germany's Uniper, one of the partners of SOCAR Aviation, one of the three largest fuel
pay 40% of IFRS bottom line in 2020, and Russia's Nord Stream-2 gas pipeline does not suppliers of Turkish air transport sector, put its
50% starting with 2021. For 2019 Gazprom rule out suspension and even non-fulfillment refueling facilities at the Milas-Bodrum Airport
paid a record high RUB361bn ($1.05bn) in of the project due to U.S. sanctions, the into operation. The facilities are expected to
dividends. company said in a report released on August refuel up to 3000 aircrafts a year.
As of end of 1Q20 the leverage stood 11. SOCAR Aviation, the SOCAR Turkey’s
at 1.5x, but the 2Q20 and 3Q20 leverage "With the U.S. intensifying their efforts on growing brand in the Turkish aviation sector,
is likely to jump as Ebitda will shrink on targeted sanctions against the Nord Stream will now supply the Milas-Bodrum Airport in
account of the over 40% drop in gas prices. 2 project the probability of a delay or even Muğla, Turkey from its own refueling facilities.
Dmitry Marinchenko of Fitch Ratings non-completion of the pipeline is increasing,” SOCAR Aviation launched the facilities after
estimated for Kommersant that for 2020 the the company said. winning the tender award by the Turkish State
leverage could increase to 3x, while Alexey “Uniper actively monitors the situation Airports Authority. On July 21 2020 the first
Gromadin of Sberbank sees leverage at 2.6x. and takes all required actions to ensure refueling operation at Milas-Bodrum Airport
compliance with applicable rules. was carried out on a Turkish Airlines aircraft.
Uniper is also in constant exchange with Together with its Milas-Bodrum
relevant stakeholders about the updated facilities, SOCAR Turkey launched its first
EASTERN EUROPE grandfathering guidance on CAATSA air refueling facility. The SOCAR Aviation’s
(Countering America's Adversaries Through Milas-Bodrum facilities was licensed by
Naftogaz head predicts up Sanctions Act) by the U.S. Department of the Energy Market Regulation Authority.
State."
It includes three jet fuel tanks with a
to seven large companies said that the company believes that the capacity of 1500 cubic meters. The facilities
Managing Director Andreas Schierenbeck
occupying a 4,105 square meter area with
in retail gas market in 2-3 project will be fulfilled. "I assume and we its existing infrastructure has a capacity of
70,000 cubic meters, which meets 50% of
believe that the project will be fulfilled," he
years said at a conference call following the release the airport’s total consumption. Hence, it is
expected to serve about 3000 planes a year.
of report.
In a few years' time, five to seven large The Nord Stream-2 project envisages
companies will be operating in Ukraine's construction of two lines of a natural gas SOCAR (AZERBAIJAN)
retail gas market, Andriy Kobolev, the CEO of pipeline with an annual capacity of up to

P22 www. NEWSBASE .com Week 32 12•August•2020