OGZPY - Gazprom posts $3.3B net Q3 loss but lifts gas export outlook

Gazprom (OGZPY) says it swung to a Q3 net loss of 251.3B rubles ($3.3B) from a year-ago net profit of 211.8B rubles, but it also raised its outlook for gas exports to Europe.Russian companies, which carry debt denominated in foreign currency, have suffered losses due to the devaluation of the Russian ruble, which fell due to the pandemic, and Gazprom reports its net foreign currency-related loss totaled 464.3B rubles in the quarter from a profit in the year-ago period.A company senior manager told an investor conference call that the company now sees its gas exports to Europe and Turkey in 2020 at 171B-172B cm vs. a previous forecast of 170B cm, but that would rank well below its record-high of more than 200B cm exported in 2018 and 199B cm in 2019.Gazprom also sees its average exporting gas prices to recover to $128-$130/Mcm this year, after its average gas exporting

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Gazprom posts $3.3B net Q3 loss but lifts gas export outlook