Russia’s state gas giant Gazprom drops 5% to an all-time low on the Moscow Exchange
Gazprom shares fell to 83.98 rubles on the Moscow Exchange on July 16, hitting an all-time low — down 5% from the previous session’s close.
The previous record low was set on October 24, 2008, when shares in the gas monopoly traded at 84 rubles, the Russian state news agency TASS reported. The stock partially recovered during the session but was still trading near its lows as of 1 p.m. Moscow time.
Two days ago, The Wall Street Journal reported, citing sources, that Russia–China negotiations over construction of the Power of Siberia 2 gas pipeline had stalled. China, according to the paper, said it was willing to participate in the project only on the condition that Russia supply it with gas at domestic market prices — in effect proposing that Russia subsidize the pipeline.
At Meduza, we are committed to transparency about our use of artificial intelligence in the newsroom. The story you’re reading was written by one of our living, breathing journalists and translated from Russian using an AI model configured to follow our strict editorial standards. This translation process is the result of extensive testing and refinements to ensure our English-language coverage is timely and accurate. A Meduza editor reviews every draft before publication.
If you find any errors in this translation, please contact us at [email protected].
To read Meduza’s exclusive content in English, please subscribe to our newsletter.