For the second time in 25 years: Gazprom’s gas business turned out to be unprofitable

A sharp drop in revenue from gas export sales against the background of rising costs and capital investments led to the fact that Gazprom’s gas business – the core element of the group’s activities – turned out to be unprofitable in the first half of the year. This state of affairs was observed earlier in the first half of 2020 at the height of the pandemic, and before that in 1998.

As gas prices in Europe continue to decline, the situation may worsen, writes Kommersant .

According to Gazprom’s reporting, the main company’s net loss for the first half of the year amounted to 255 billion rubles. ($2.65 billion). The profit of the Gazprom group amounted to 296 billion rubles, but in fact this indicator was provided exclusively by the oil business – Gazprom Nefta.

According to available data, PJSC Gazprom’s revenue fell by 65% ​​to 2.74 trillion rubles. Including revenue directly from the sale of gas fell 2.1 times, to 1.7 trillion rubles. Джерело:


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