Russian gas suffered losses of over a trillion rubles

The failed attempt to freeze Europe in the winter chill ended with the loss of a key gas market for Russia, which led to financial losses for Gazprom. At the end of 2024, the gas monopoly suffered a net loss of 1.076 trillion rubles. This was reported in a report on Russian Accounting Standards (RSBU) published on Monday.

Gazprom's average rate of money loss was 20.6 billion rubles per week, 2.94 billion rubles per day, and 122 million rubles per hour.

This loss was calculated based on the results of Gazprom's headquarters and its core gas business. The RSBU report includes only these indicators, and does not take into account the company's subsidiaries, such as the oil business, liquefied natural gas (LNG) and energy assets, notes Ronald Smith, an analyst at BKS.

Overall, Gazprom's revenue grew by 11% to 6.2 trillion rubles, while gas sales revenue grew by 14% to 3.98 trillion rubles. However, the company ended the year with a loss of 192 billion rubles.