Gazprom has traditionally been cautious in its budget estimates. Gazprom PJSC’s 2022 budget took a typically prudent view of gas prices, despite record-high energy costs in its main export market and few signals Europe’s energy crunch is abating. The Russian gas producer is basing its 2022 budget on what it calls a “conservative” export price of $296 per 1,000 cubic meters, according to a company presentation made to investors on Wednesday. Gazprom has traditionally been cautious in its budget estimates, saying this helps mitigate the impact of volatile prices. In its budget for 2021, the company made a similarly reserved call on export prices, of $250/1,000 cm, that didn’t materialize. The gas producer’s average 2021 export price is actually much higher, at over $280/1,000 cm, according to Deputy Chief Executive Famil Sadygov. Gazprom’s conservative 2022 budget comes as Europe, its main export market, buckles under a supply crunch that’s […]