Gazprom reassures investors ahead of HK listing

The Russian gas company visits Hong Kong to explain its Asia strategy as the West tightens the screw on corporate Russia.
Vladimir Putin and Zhang Gaoli celebrated the start of the Siberia-to-Asia gas pipeline on September 1
Vladimir Putin and Zhang Gaoli celebrated the start of the Siberia-to-Asia gas pipeline on September 1

One of Gazprom’s most senior executives met investors in Hong Kong last week. Against a background of escalating Western financial and economic sanctions against Russia, Andrey Kruglov, the gas company’s deputy chairman, was in town to prepare investors for a possible listing of depository receipts in Hong Kong next year.

Kruglov, who is also head of Gazprom’s financial and economic department, inevitably encountered anxiety and scepticism as he explained the company’s Asia strategy. On September 13, the US Treasury widened a ban on the export of goods, services and technology for deep-water, Arctic offshore and shale oil projects in Russia to include Gazprom and four other Russian energy companies. The...

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