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Bulletin: Direct Impact Of Gazprom Price Hike On Georgian Economic Growth Likely To Be Modest Nov 06
Standard & Poors, Nov 2006
Abstract
LONDON (Standard & Poor's) Nov. 2, 2006--Standard & Poor's Ratings Services said today that the direct impact on Georgian real economic growth of the widely anticipated increase in the price of natural gas from Russia-based gas company OAO Gazprom (BBB-/Stable/--) from $110 per thousand cubic meters (tcm) to $230 per tcm in 2007 would likely be modest, at only about 1.1% of GDP. This calculation is based on a projected gas import volume of 1.7 billion cubic meters in 2007, which at the price of $230 would translate into a cost of $391 million. This represents an increase of $204 million above the projected cost at the old price, equivalent to 2.9% of GDP. The Georgian authorities had, however, expected...
Companies mentioned in this report are: Georgia (Government of),Russian Federation,OAO Gazprom
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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