GAZPROM - Russland Rohstoffperle (Seite 2501)

[Spartaner79]

Wenn das wirklich kommt, dann kann ich nur sagen....."Richtig so, Russland!"

[MaxStirner01]

Antwort auf Beitrag Nr.: 47.879.729 von MaxStirner01 am 26.09.14 00:29:05

http://www.handelsblatt.com/politik/international/neues-gese…

[MaxStirner01]

Antwort auf Beitrag Nr.: 47.878.376 von kingder am 25.09.14 20:38:32

Zitat von kingder:

Zitat von VaJo: Russland will in den kommenden Tagen ein Gesetz verabschieden um die Vermögen von Ausländern die aus Staaten kommen die sich an den Sanktionen beteiligen zu enteignen.

Das war es für die kommenden Jahre mit wirtschaftlichen Beziehungen zu Russland.

Und mit euren Investitionen in Schröder Gas

Nenne mal die Quelle für diesen Unsinn.

[kingder]

Antwort auf Beitrag Nr.: 47.877.899 von VaJo am 25.09.14 19:39:25

Zitat von VaJo: Russland will in den kommenden Tagen ein Gesetz verabschieden um die Vermögen von Ausländern die aus Staaten kommen die sich an den Sanktionen beteiligen zu enteignen.

Das war es für die kommenden Jahre mit wirtschaftlichen Beziehungen zu Russland.

Und mit euren Investitionen in Schröder Gas

Nenne mal die Quelle für diesen Unsinn.

[koneng]

http://futures.tradingcharts.com/news/futures/Gazprom_regist…

[VaJo]

Russland will in den kommenden Tagen ein Gesetz verabschieden um die Vermögen von Ausländern die aus Staaten kommen die sich an den Sanktionen beteiligen zu enteignen.

Das war es für die kommenden Jahre mit wirtschaftlichen Beziehungen zu Russland.

Und mit euren Investitionen in Schröder Gas

[koneng]

Gazprom will start trading spott price lng first 24 okt

Futures and Commodity Market News

Gazprom registers subsidiary for gas trading on exchange



Moscow, Sep 25, 2014 (RosBusinessConsulting via COMTEX) --

Gazprom has registered a subsidiary that will deliver natural gas purchased on a commodity exchange, Gennady Sukhov, head of Gazprom's gas distribution department, told reporters today. The St. Petersburg-registered subsidiary under Gazprom Mezhregiongas Postavka name will ensure coordination between the exchange and Gazprom's gas transportation system, ITAR-TASS reported. The first gas trading with delivery in November and settlement in early December will take place on October 24 on the St. Petersburg International Mercantile Exchange (or SPIMEX), the president of the exchange, Alexey Rybnikov, said. Trading in a test mode was carried out on Mezhregiongaz electronic exchange in 2006-2008, with 6.09bcm sold in 2008, down from 10bcm in 2006. In 2011, Dmitry Medvedev, who was president then, ordered exchange trading of gas to be resumed. In summer 2014, Medvedev, who is currently the prime minister, signed a resolution authorizing gas trading on commodity exchanges and in electronic trading systems.



Copyright (C) 2014, RosBusinessConsulting. All Rights Reserved

[Wonderland666]

http://www.handelsblatt.com/politik/international/energiemin…

[kingder]

Dieses Gezerre über den Gaspreis und die nicht bezahlten Rechnungen gehen mir langsam auf den Zeiger, keine bezahlten Rechnung, kein Gas, so einfach ist das. Jedes normale Unternehmen der Welt stoppt seine Lieferungen schon viel früher wenn für Ware nicht bezahlt wird, wieso glaubt der Schokoladen Clown er bekomme das schon verbrauchte Gas geschenkt bzw. will Traumrabatte auf zukünftige Lieferungen? Wenn ich Gazprom wäre würde ich den was husten. Entweder die EU bezahlt die alten Rechnungen (davon gehe ich schwer aus auf welche Art auch immer) oder es wird sehr sehr eng in der Ukraine.

[koneng]

Comment from Renasset Management

19 September 2014

Risk Premia

Suddenly, the world is looking a much more dangerous place as Developed Markets political risk escalates sharply. Emerging Markets political risk has been elevated for some time, resulting in high equity risk premia. However almost in succession, India, Indonesia, Turkey and South Africa’s equity markets, from the point of greatest crescendo of political noise, have become some of the best performers. Previously seen as “un-investable”, those markets have become investor darlings; equity risk premia has fallen sharply and, arguably in some of them, valuations are stretched in a manner which was unthinkable a year ago. Political risk remains high in Russia due to the ever increasing pressure of the sanctions and domestic antics; the house arrest of Mr Evtushenkov, the oligarch owner of Sistema Holdings, the most recent example.

Without doubt the effect of the sanctions on the Russian economy is negative. The Ruble has depreciated in line with the “deficit” currencies, despite the strong current account and fiscal position of Russia. Cost of borrowing is up, as is inflation (including food inflation), as some of the reciprocal import bans on fruit and vegetables/ fish kick in. However, when we consider the impact on the current operations of most companies, this effect is hardly material. This is epitomised by the oil companies. The most recent sanctions, aimed at companies such as Rosneft, Gazpromneft and Transneft, broadly relate to Arctic, deep-water and shale exploration. Those are growth options post 2018, which are frankly too complex and difficult to value, hence the market has attributed zero value to them. The production outlook for the next 3 years remains unaffected by the sanctions. Most of the producers have low leverage (ex-Rosneft) and no significant financing requirements. At the same time, the Kremlin is about to establish a large slush fund to aid the development of companies affected by the sanctions.

It is quite interesting that the Russian companies, despite being particularly careful about their cash flow, have continued to pay dividends. As a matter of fact, we were quite busy collecting dividends from our Russian holdings this quarter; nine paid good dividends, leading to an overall 6.4% annualised yield on our Russian portfolio. With pay-out ratios in Russia amongst some of the lowest in the developed world, we can see the potential for greater return of cash over time. Furthermore, the weak Rouble is helping the earnings of exporters such as oil and gas, metals and mining as well as soft commodities companies. Concerning the oil price, although we are not experts, it would appear that the fall in oil has been concomitant with the surge in the trade-weighted dollar. We are also noting that Brent is getting dangerously close to the comfort levels of Saudi and other Arab/Gulf states. With the mess in the Middle East in full swing, we believe it unlikely that the major Arab oil producers will want a significant fall in oil prices. The situation with soft commodities is similar. We have been talking for a while about their fall; it is not clear to us that this fall will continue in perpetuity. As the perfect harvesting conditions are behind us, we reason that softs are more likely to ascend in price than fall going forward. Again, this will be helpful to the earnings of Russian producers.

It would seem to us that with Russia being the worst performing major market in the world, a lot of negativity has been priced in. As such, the equity risk premia remains very elevated. In each of the Emerging Markets this risk premia has come to exist on the basis of developments that consensus did not anticipate. The most recent rally in Brasilian assets, which at one point became exceedingly cheap, is a point in case. There is no reason why the risk premia in Russia may not subside over time. We have no way of knowing how and when this will happen; we are bound to be surprised one way or another.

In the meantime, it is worth pointing out that the profits of Russian exporters, which comprise the majority of the market and economy, may improve due to the currency tailwind and potential stabilisation in commodity prices. This should be welcome when valuations of those exporters are as low as they are currently.