Companies & Finance

Gazprom straining to keep pace with rivals

The Russian monopoly is committed to a big borrowing plan for 2018, but is facing challenges on multiple fronts The Russian monopoly is committed to a big borrowing plan for 2018, but is facing challenges on multiple fronts.
By Tom Hoskyns 8 August 2018 0 32076
Gazprom’s annual general shareholders meeting in June 2018 Gazprom’s annual general shareholders meeting in June 2018. (Gazprom)

The combination of a weak ruble and strong gas export figures should give a healthy sheen to Gazprom’s Q2 results when they are published later this month, but the company’s astronomic spending remains a concern.

Although Gazprom will not publish International Financial Reporting Standards figures until 28 August, Interfax has estimated the company’s Q2 net profit according to Russian Accounting Standards (RAS) at RUB 161.5 billion ($2.5 billion), including a RUB 190 billion charge for dividend payments. The net profit figure is calculated by looking at...