Neither super-rich, nor bankrupt. Gazprom’s financial condition
Neither super-rich, nor bankrupt. Gazprom’s financial condition

Author(s): Szymon Kardaś
Subject(s): National Economy, Business Economy / Management, Energy and Environmental Studies, Environmental and Energy policy, Accounting - Business Administration
Published by: OSW Ośrodek Studiów Wschodnich im. Marka Karpia
Keywords: Gazprom; Russia; gas-company; investment programme; financial state of company; major gas supplier;
Summary/Abstract: In 2018 Gazprom, Russia’s biggest state-controlled gas company, adopted the largest investment programme in its history. The year before, it had reported its highest ever revenue from the sale of gas and other goods and services. At the same time, however, in the period between 2007 and 2017, the company’s capitalisation fell to less than a sixth, and in 2017 its total debt reached a record level of US$55.2 billion. It is therefore worth taking a closer look at the financial condition of Russia’s largest gas company, which remains a major gas supplier to Europe, accounting for 34% of the EU market in 2017.

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