Gazprom shares hit their lowest price in 15 years, capping a disastrous year for a linchpin of Russia's economy

Insider - Dec 18th, 2024

Gazprom's share price has plummeted to a 15-year low due to ongoing challenges in exporting gas to Europe, which is committed to phasing out its reliance on Russian energy following Russia's invasion of Ukraine. The company's financial struggles were highlighted by its first annual loss since 1999, reported in May. The European Union's efforts to reduce dependence on Russian gas, including the potential end of a gas transit agreement via Ukraine in 2025, have further strained Gazprom's position in the European market. Despite these setbacks, Gazprom's large domestic market and increased gas prices provide some stability. The company is exploring new markets, including a potential pipeline agreement with China through the Power of Siberia 2 project.

Gazprom Russian Energy European Gas Market

Story submitted by Fairstory

RATING

8.2

Fair Story

Consider it well-founded

The article provides a well-rounded overview of Gazprom's current financial challenges, focusing on its share price decline and export issues in Europe. It uses credible sources and offers a balanced view with expert opinions. However, it could improve on transparency by clarifying the affiliations of the experts quoted.

Accuracy

The article accurately reports on Gazprom's share price drop and its financial challenges. It provides specific figures and dates, which are verifiable. The information aligns with other known facts about the European energy market and Gazprom's recent performance.

Balance

The article presents a balanced view by including perspectives from industry experts and mentioning both the challenges and potential opportunities for Gazprom. However, it could provide more viewpoints, particularly from Gazprom or Russian sources, to enhance balance.

Clarity

The article is clearly written and logically structured. It uses neutral language and avoids emotive terms, making it easy to understand for readers. The information is presented in a coherent manner, supporting the article's clarity.

Source quality

The article cites credible sources such as RBC, Business Insider, and the Financial Times. It includes expert opinions from a senior research fellow at the Oxford Institute for Energy Studies. However, the article could improve by providing more context about the sources and their potential biases.

Transparency

The article does not disclose any potential conflicts of interest or affiliations of the experts quoted, which affects transparency. It could enhance transparency by providing more information about the backgrounds of the experts and the sources used.