Gazprom posts first annual loss in 22 years as gas sales plunge
The Guardian|May 03, 2024
The Kremlin-owned gas company Gazprom plunged to a net loss of 629bn roubles (£5.5bn) in 2023, its first annual loss in more than 20 years, after gas sales more than halved following Vladimir Putin's invasion of Ukraine.
Guardian staff
Gazprom posts first annual loss in 22 years as gas sales plunge

The loss comes amid dwindling gas trade with Europe, once Gazprom's main sales market, as a result of sanctions and the throttling of pipelines to the continent.

The results highlight the dramatic decline of the company, which since the collapse of the Soviet Union has been one of Russia's most powerful, with its gas supplies often used as leverage in disputes with neighbours such as Ukraine and Moldova.

Analysts had expected net income of 447bn roubles, according to the Interfax news agency.

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