Gazprom’s profitable Russian customers dwindle

Competition among Russian gas producers looks set to intensify as the falling oil price dampens gas demand, just as the list of desirable customers grows smaller.

So far, Rosneft has been doing well. High-profit segments of the Russian market account for 98% of the oil company’s gas sales, Deputy Energy Minister Kirill Molodtsov told delegates at the Gas Russia forum in Moscow this week. High-profit market segments account for 60% of independent Novatek’s gas sales, while 40% go to mid-margin segments, he said.