The Russian gas monopolist Gazprom acknowledged the possibility of division of the company for the first time, according to the prospectus to a new issue of eurobonds of the company, ET reports quoting Vedomosti.
According to the document, Gazprom fears that the government will deprive it of its exclusive right to export gas through a pipeline. The document also says that the company reorganization is also possible.
“The Draft Strategy for Energy Development in RF until 2035 allows for retaining the monopoly for export of pipeline gas; however, it is not certain that the company’s exclusive right will not be overridden in future or our business or operational activities will not be organized in any other way”, Gazprom informs in the prospectus.
The Russian government can approve the respective decision, as the document specifies.
The risk of loss of monopoly for gas export was already described several times in prospectuses to eurobonds, but Gazprom mentioned the possible reorganization for the first time.
It was previously reported that EU wants to block investments in one of the largest projects of Gazprom - Nord Stream 2, changing the gas directives.
Gazprom’s construction of Nord Stream 2 through the Baltic Sea will cause significant losses to Ukraine, which may make up 3% of GDP.
