Gazprom - statistics & facts
Contrary to the expectations that Russia's gas export value would decrease due to lower shipments to Europe and the sanctions over the Russian invasion of Ukraine, Gazprom reported its peak revenue in 2022. Even though the volume of exported gas decreased, higher gas prices contributed to the energy giant's earnings. However, the negative impact of the trade rerouting was reflected in Gazprom's 2023 results, when the company reported a net loss of over 629 billion Russian rubles, the lowest figure in the past two decades.
Since February 2022, Russia has exported the largest volume of gas to China and Turkey. Power of Siberia, with a capacity of 38 billion cubic meters, enables gas exports from East Siberia to China. However, in 2023, the volume transported via the pipeline amounted to approximately 60 percent of the total capacity. Another pipeline, Power of Siberia 2, is being discussed by the Russian and Chinese governments; however, its construction has not been announced as of June 2024. For Gazprom, Power of Siberia 2 could bring additional export revenue.
Gazprom's net loss reported in 2023 highlighted the negative impact of the Russia-Ukraine war and subsequent Western sanctions on the company and the Russian energy sector. As gas exports to Europe have been reduced since 2022, the focus of Gazprom operations has shifted to domestic customers and Asian markets.
Gazprom company profile
Gazprom is the leading natural gas extractor in Russia and one of the major oil and gas companies worldwide. Furthermore, it owns subsidiaries in finance, media, and aviation. A public joint stock company (PJSC), it is one of the largest businesses in its home country. It supplies gas to domestic consumers and trades it abroad, mostly to Europe and Asia, via pipelines and in its liquefied form (LNG). It holds a monopoly in the Russian pipeline gas export market and is also active in LNG production, oil production, and refining. More than 492,000 employees work for Gazprom, more than for any other oil and gas company.Gazprom's export destinations
In response to the war in Ukraine, European countries largely decreased their imports of gas from Russia, and Germany halted the certification of Nord Stream 2, a gas pipeline with a capacity of 55 billion cubic meters, whose construction was completed. Gazprom suspended deliveries via the pipeline Yamal–Europe running through Poland in May 2022 as well as Nord Stream in September 2022. Thus, it continued supplying gas to Europe via the transit route through Ukraine and via the pipeline TurkStream.Since February 2022, Russia has exported the largest volume of gas to China and Turkey. Power of Siberia, with a capacity of 38 billion cubic meters, enables gas exports from East Siberia to China. However, in 2023, the volume transported via the pipeline amounted to approximately 60 percent of the total capacity. Another pipeline, Power of Siberia 2, is being discussed by the Russian and Chinese governments; however, its construction has not been announced as of June 2024. For Gazprom, Power of Siberia 2 could bring additional export revenue.
Gazprom's net loss reported in 2023 highlighted the negative impact of the Russia-Ukraine war and subsequent Western sanctions on the company and the Russian energy sector. As gas exports to Europe have been reduced since 2022, the focus of Gazprom operations has shifted to domestic customers and Asian markets.
