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Reports Russia

Russian stock market daily morning report (May 23, 2014, Friday)

May 23, 2014, Friday, 07:44 GMT | 02:44 EST | 11:14 IST | 13:44 SGT
Contributed by Veles Capital

We expect mild quotes reduction at the Russian stock market: the course and results of elections in the Ukraine might make the key impact on the sentiment at the Russian financial sector, therefore, the traders will be trying to take out their profits

Main events

Pipe sector will get benefits from Gazprom-CNPC contract

Sum length of the pipeline forms about 4K km, which requires not less than 2.6 mn tons of large diameter pipes

According to Vedomosti, the volume of Gazprom’s Chinese gas contract forms 1.032 trillion cubic meters

Average cost of gas for CNPC might form 387 USD per K cubic meters. Considering the taken take-or-pay term, and almost completed ahead payments of 25 bn USD, the terms of the contract for Gazprom seem to be attractive