The company announced a search for buyers for large real estate properties in Moscow and the Moscow region.
Russian Gazprom, which suffered a loss for the first time in 25 years, and became the largest in the history of the company, began to sell its property. The Moscow Times reported this on Wednesday, May 8.
In particular, the company announced the search for buyers for large real estate properties in Moscow and the Moscow region. Among them are office buildings on Stroiteley Street, the Imperial Park Hotel & Spa sanatorium complex in the village of Pervomaiskoye, the village of Rogozine, non-residential premises on the first floor in a house on Novocheremushkinskaya Street, as well as a parking lot for 96 spaces near the company’s headquarters in Moscow.
The decision was made “taking into account the completion of the transfer of Gazprom Group companies to St. Petersburg,” the company’s press service explained.
As reported, last year Gazprom received 629 billion rubles of net loss under IFRS, reporting a fall in revenue by 27%, and EBITDA by half. The company’s gas business, which operates the largest reserves on the planet, has become unprofitable (by 1.2 trillion rubles per year), and Gazprom’s debt has reached a record of 6.65 trillion rubles, exceeding the size of liquid part of the National Welfare Fund ( 5 trillion rubles).
By cutting off gas to most European countries in a failed attempt to win concessions in Ukraine, the Kremlin has deprived Gazprom of its key market, with which it has been building ties for nearly half a century. By the end of the year, Gazprom exported only 69 billion cubic meters of gas – the lowest volume since 1985. Compared to 2022, the volume of pumping abroad decreased by another third, and when compared to pre-war levels, by three times. European supplies fell to 28 billion cubic meters, the level of the second half of the 1970s. And Gazprom’s production reached only 404 billion cubic meters and became the lowest in all 34 years of the company’s existence.
Let’s remember that gas supplies to China compensated the Russian Federation for only 11% of the lost European market. The decrease in European supplies reached 115 billion cubic meters, of which China replaced only 13 billion.
Meanwhile, Ukrainian Naftogaz announced a billion dollar profit for the year.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.