A while ago, I wrote an article on how EU natural gas prices were plunging, and that constituted a risk for Gazprom (OTCPK:OGZPY). Since then, three things happened:
- Gazprom rallied significantly on account of surprising with a much larger dividend than expected, based on its already-known excellent 2018 earnings.
- Gazprom published Q1 2019 IFRS earnings which showed significant net profit growth.
- EU natural gas prices continued on a downward trek. This is at least in part due to companies having been saddled with U.S. natural gas offtake agreements into a weakening (price-wise) global