Gazprom Lost 156 Billion Cubic Meters of Gas Production in Two Years
In 2023, Gazprom’s production decreased in annual terms by 13%, to a historical low of 359 billion cubic meters. These figures are presented in the company’s annual report. Compared to 2021, the drop was 30%, or 156 billion cubic meters. m.
Gazprom’s gas processing, on the contrary, increased last year. Thus, in 2022 its volume increased from 34.7 billion cubic meters, and in 2023 – already 49.9 billion. Investments also increased to 3.12 trillion rubles, which is 276.8 billion more than the 2022 level.
On June 10, Gazprom shares reached the level of September 2017. At the minimum they stood at 117.9 rubles. We would like to remind you that the concern’s losses last year amounted to 629.1 billion rubles.
Let us remember that Gazprom is an export-oriented company, so the reduction in gas supplies to Europe hit its financial results, as well as gas production, hard. Now a discussion is unfolding in the government about how to ensure that Gazprom can receive shortfalls in revenue from exports on the domestic market. However, this is difficult to do for now, since everyone understands that rising gas prices will hurt Russian industry and cause social unrest among the population.
