On July 16, during trading on the Moscow Exchange, Gazprom's shares fell by 5.04%, reaching 83.98 rubles, according to trading data. This is the lowest price since trading in shares began on the exchange in 2006. By 13:16 Moscow time, the decline had slowed to 3.2%.
Gazprom, like other oil and gas companies, has recently been under pressure due to oil prices, a strong ruble, and high interest rates, according to D8 investment house analyst Andrey Gromadin. He noted that investors are selling Gazprom shares more than others, considering that the company has not paid dividends for several years.
General Invest portfolio manager Tatyana Simonova linked the decline in Gazprom's shares to reports that China has allegedly effectively frozen negotiations regarding the construction of the Power of Siberia 2 pipeline. The Wall Street Journal, citing sources, reported that Beijing is only willing to agree to the pipeline's construction if Moscow supplies gas at domestic market prices. Chinese officials have requested the Russian side not to raise this issue, WSJ claims.
Simonova noted that news about possible US sanctions against Russia also plays a role. Senators are discussing a bill on
