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Yamal – through Belarus and Poland – ceased May 2022 – Poland took over the 48% Gazprom share of the pipe in Poland in 2023 and does not want to reopen the pipeline; Ukraine transit – one route operational with around 13 billion cubic metres per year (460 billion cubic feet per year), the other is closed as it is in the war zone.
Gasprom expects exports of gas in 2023 to be half of 2022. [5] Russian gas production in 2023 is expected to fall from 673bcm to 630Bcm with Gazprom production falling from 412.6Bcm to 390Bcm. [39] 2023 Exports to Europe total just 8.14Bcm in first 4 months of 2023, [40] with gas continuing to move through a Ukraine pipeline at 40-42mcm per day.
The revenue of Gazprom, whilst initially supported by high prices collapsed in 2023 resulting in a trading loss and the need to increase the price in the domestic market by 34% over 3 years. [ 59 ] [ 60 ] Gazprom has also opened itself up to compensation claims for failure to supply gas under long term contracts.
However Gazprom was exempt from the rise; this resulted in February 2023 in complaints from Novatek. [ 44 ] Novatek's Yamal LNG does not benefit from the elevated tax exemption, but has a tax break with a 13.5% tax rate for 12 years or until production reached 250bcm [ 44 ] and is also exempt from export taxes and mining taxes for nine years.
Joint Stock Company Gazprom Promgaz (Russian: Акционерное Общество "Газпром промгаз", abbreviated JSC Gazprom Promgaz, (Russian: ОАО "Газпром промгаз"), IPA: [ɡɐsˈprom promˈɡas]) is a Russian company that specializes in structural engineering, design, research, heating, the electric power market, and other services related to natural gas.
While Gazprom storages account for just 10% of the EU total working storage capacity, they accounted for half of the EU's 5-year storage deficit. Without the strong increase in LNG imports since October 2021, European storage levels would have been less than 15% full by February 2022 (vs 31% in reality), leaving Europe in a much more vulnerable ...
On 2 October 2007, Gazprom threatened to cut off gas supplies to Ukraine because of unpaid debt of $1.3 billion. [49] This dispute appeared to be settled on 8 October 2007. [50] On 5 January 2008, Gazprom warned Ukraine that it would reduce its gas supplies on 11 January if $1.5 billion in gas debts were not paid. [51]
Gazprom Neft (Russian: Газпром Нефть; formerly Sibneft, Russian: Сибнефть) is the third largest oil producer in Russia and ranked third according to refining throughput. It is a subsidiary of Gazprom , which owns about 96% of its shares.