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Gazprom - Russian energy giant teetering on the verge of collapse?

17.03.2023 15:35
The Polish daily "Rzeczpospolita" has reported serious problems for the stability of the Russian energy concern Gazprom - plummeting profits and a series of lawsuits from major energy players.
Gazprom - Russian energy concern.
Gazprom - Russian energy concern.PAP/EPA/ROMAN PILIPEY

Rzeczpospolita reported yesterday that the Russian energy giant Gazprom is facing major difficulties because of Russia's 2022 invasion of Ukraine.

The real profits of the company are estimated to have plummeted by more than 72% despite drastic increases in prices.

Gazprom reported on Wednesday net profits of 747 246 billion rubles (approximately 9097 billion euro), however Rzeczpospolita suggests that the real results may be lower still.

Among the major energy companies suing Gazprom is the Polish energy giant PGNiG. The Polish concern is demanding interest payments following a decision in its favour at arbitration in 30 March 2020.

Source: Rzeczpospolita