Gazprom continues to lose money: the company’s losses have almost doubled

The company’s increase in losses is explained, in particular, by the reduction in gas supplies to Europe.

The net loss of the parent company PAO Gazprom , according to Russian accounting standards, in the first half of this year amounted to 480 billion rubles, while losses for January-June 2023 amounted to 255 billion. This was reported by the Enkorr portal with reference to the PAO’s financial statements .

Gazprom calculates dividends from the consolidated profit of the group according to international standards (IFRS). In addition to the gas business, this includes, in particular, the oil, energy and LNG divisions. The dividend policy provides for an adjustment of the dividend base for non-cash items.

According to experts, the increase in losses of the Russian gas monopoly occurred due to a reduction in gas supplies to Europe against the backdrop of the company’s high operating expenses.

It was previously reported that last year the Russian energy giant reduced natural gas supplies to Europe by 55.6%, to 28.3 billion cubic meters. In 2022, Russia supplied European consumers with about 63.8 billion cubic meters of gas via various routes.

Gazprom – latest news

Earlier it was reported that an internal study commissioned by Gazprom contains evidence of the “catastrophic idiocy” of Russian leader Vladimir Putin’s war on Ukraine.

And before that it became known that after receiving the first loss in 25 years and a record loss in its entire history, the Russian Gazprom decided to start selling off its assets .

(C)UNIAN 2024