(Une planète sans une monnaie dominante, ça ne sera pas plus mal, surtout maintenant que les USA utilisent les leviers de contrôle de l'économie mondiale (swift, par exemple) mis en place par les grandes banques américaines pour détruire l'économie réelle des pays tiers. note de rené)
Russia’s Largest Oil and Gas Companies Abandoned the Dollar
The largest companies of Russia’s oil and gas sector have already abandoned settle accounts in dollars. “Rosneft” and “NOVATEK” completely excluded the American currency from payments under export contracts.
“NOVATEK” is switching to the Euro in settlements with clients, this currency is already used in most export contracts. This is not a short-term solution, but a systematic transition that started as early as 2014, when “NOVATEK” fell under US sectoral sanctions. This was stated to journalists by the head of the company Leonid Mikhelson.
In July 2014 NOVATEK was subject to sectoral sanctions, under which American legal entities and individuals cannot provide us with credit. So this process started at NOVATEK earlier than at Rosneft. We mainly use the Euro in settlements with counterparties.
By the way, the day prior, Igor Sechin, the head of Rosneft, announced the full transfer of all export settlements from dollars to euros.
We didn’t just start work, we’ve already completed it. All our export contracts are already being implemented in euros. The share of the dollar in world trade exceeds 60%, and in trade in oil and oil products – 90%. However, turning to a not-so-distant history, we see that financial monopolism can and should be resisted. Therefore, in ten years we can see a very different picture: with the growth of the role of the Chinese economy, the share of the yuan can grow from the current 2-5% to more significant values.
Returning to “NOVATEK”, it should be noted that the company allows to increase the bar of dividend payments according to the results of 2019, said Leonid Mikhelson to journalists.
“What you’re talking about, we plan to consider it and adopt it in Q2. Maybe even at the end of the year,” he said, answering the question about the possibility of “NOVATEK” increasing the level of dividend payments.
In the spring Mikhelson already said that the company can revise the parameters on the level of dividend payments in 2020, when the details of financing the Arctic LNG-2 project will be clear. Now the head of the company said that this moment is not the only reason for this decision.
“We need to pass all tests on the current Yamal LNG. We need to have all 15 tankers, the last one will come in December, and that they work well in the ice environment,” he said.
We also remind that according to the current dividend policy, “NOVATEK” sends at least 30% of net profit to dividends under International Financial Reporting Standards.
In addition, the company plans to expand into the Italian market, but will not directly reach buyers. This, according to Mikhelson, is too difficult a path, it is more logical to look for partners in Italy to sell LNG through them.
“NOVATEK” shares on the Moscow Exchange increased by about 1.5% the previous day. In general, investors love these securities, they like competent management and an understandable and predictable dividend policy.
Largely due to this, the shares are traded almost without serious losses. Since 2015 their cost has increased by about 220%.
The largest shareholders of “NOVATEK” are Leonid Mikhelson (24.76%) and Gennady Timchenko (23.49%). French “Total” owns 19.4% and Gazprom – 9.99%. Shares of the company are listed on the Moscow Exchange, global depositary receipts are on the London Stock Exchange.
vestifinance.ru
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