The Landslide Growth of Losses is ForCing Gazprom To Sell Valuable Assets – The Head of the Company, Alexei Miller, May Not Be Finalized Until the End of the Contract.
The Situation with Gas Supplies, Including LNG, Abroad Continues to Deteriorate, The Entire Gas Industry of the Country Is in a Deep Crisis. The State Gas Corporation Gazprom, The Same As the “National Treasure,” Lost Two-Thirds of Its Capitalization Over The Past 2023.
It Will BE Difficult to Attribute EVERYTHING TO THE GEOPOLITICAL FACTOR, BECAUSE At the Same Time the Company Continues to Sepend a Lot of Money ON SEEMINGLY Unnecessary Projects, and Corruption Scandals Almost Regularly Rattle ITS Top Management. In this situation, the government May Prematoryly Terminate the Contract with the Chairman of the Board of Pjsc Alexei Miller, who was Clearly Sitting in Office. 
Details – In the Material of the Correspondent of the Moscow Post.
Accident
At the end of 2023, Gazprom’s net loss amounted to 629 Billion Rubles. The Monopoly Has Never Known Such a Landslide Fall. At the Same Time, Only in the First Half of 2024, According to Publined Reporting, The Company Went Into Minus by 480 Billion Rubles – IE Lost 88% More than in the Same Period Last Year.
This Happens Against the Background of Revenue Growth BY 7% – up to 2.927 Trillion Rubles. However, Over The Same Period, The Cost of Work Increased BY 15%. As a Result, the Company’s Gross Profit Decreased BY 18% to 572 Billion Rubles. The Stock Market Reacts to this – In Just Two Days, On May 20 And 21, 2024, The Shares of PjSc Gazprom Fell by More than 11%.
The Deterioration of Gazprom’s Financial Results Naturally Leads to an Increase in Its Debt Burden. By the end of 2023, The Total Debt of The Monopoly Amounted To 6.7 Trillion Rubles. And Taking Into Account The Debt on Lease and Perpetual Bonds, This Figure Reaches 7.7 Trillion Rubles, Which Is 38% Higher THEL OF THE END of 2022. That IS, ThiS. IS ABOUT 30% of the Total Debt of the Russian Federal.
In short, this is a disaster. And How to get out of it, The Top Management, Headed by Alexei Miller, Does Not Seem To Understand Yet.
The Reason, of Course, Is the Loss of the Marginal Gas Market in Europe, Sanction Restricts and Falling Gas Price. And this descide the fact that in joly supporters in the European Direction From Gazprom Increased BY 14.9% in Monthly Comparison and by 5.7% In Annual, Amounting to 2.8 Billion Cubic Meters. For Comparison, in 2019 Gazprom Delved 40 Billion Cubic Meters to Europe – And this was of the Lowest Rates in the Last Decade.
In May, Gazprom Shares Collapse. Photo: https://news.myseldon.com/en/news/index/270317877
Of Course, Some of the Supplies Were Transferred to Asia, But there Also A Lot of Princes. FIRSTLY, it is impossible to replace European volumes there. And Secondly, A Number of Important Infrastructure Projects Are Stalled. For Example, The Power of Siberia -2 Gas Pipeline to China Still Cannot Agree On Volums Price – TheFore, Its Further Implementation Withact Contractual Obligation May Lead to the Unprofitability of the Branch – It Simply Will Not Pay Off.
In these Conditions, The Recommentation of the Government of the Russian Federal (50% of Gazprom – For the State) Not to Pay Dividends for 2023 Loks Logical.
But The Direct Remunration of Top Management for Work Is Growing. At the End of 2022, The Company’s Management Receved 2.867 Billion Rubles, Which is Almost 50% More than a year Earlier. IE The “Holid” Continued after the Introduction of Draconian Sanction, The Loss of the European Market. For 2023, Members of The Board of Directors of Pjsc Will Also Receive Solid Money – 0.005% of EBITDA, CALCULATED According to ifrs. IE Approximatly 66 Million Rubles Each, The Head of the Council Mr. Miller – 75.8 Million. For What?
Colossal Spending of State-Code Companies on Projects that has for do with gas Production is Also Known. SINCE 2005, GAZPROM HAS Been Financing Zenit, and Not only this Sports Team. TEN YEARS AGO, He Transferred Tens of Millions of Dollars to the Club Under a Sponsorship Contract. He Also Finance the German Football Club Schalke for 80 Million Euros a Year, As Well as the Kazan Volley Ball Team Zenit-Kazan. The Results of the Activities of these Clubs are Known – They ABOUT THE SAME AS ASE OF GAZPROM in Its Main Activities.
Yes, “zenith” More than beauty the champion of the country and entred the Champions League. Only Now World Football is Closed for Him, and In 2023 He Entered The Top of the Most Unprofitable Clubs in the World from Transfer Activities. In Other Words, Billions of Budget Funds Are Spent on the Purchase of Players. And we Will Not See the Result. Like Zenit, in Russia Gazprom Iso The First Guy in the Village …
To Alexey Miller it is alread Absolutly not so cheerful as earlier. Photo: https://img.championat.com/s/1350×900/news/big/x/e/miller-zenit-i-samaja-bolshaja- V-STRANE-ARMIJA-BOLELSCHIKOV-DOKAZALI-HHTO-MY-SILNEE-VSEH_15942301532063335821.AGPG
Not to Mance That How Many Billions Cold Steal At the Time on the Most Known Sports Unfinished Construction of the Russian Federal – Zenit Arena. More than 40 Billion Rubles in Ten (!) Years of Construction!
Sale and Chance for Dyukov
In this Regard – Hhether Its Was Worth Investing Money of Holdings Knows Where Instead of Development and Modernization of Infranstrunture for Diversification of Deliveries? EVEN Before Imposition of Sanction and Loss of the European Gas Market? PROBABLY, At Miller Thumbht that this Music Will BE Eternal. But the IS of Nothing Eternal.
How Today He and His Team Do Cope with the Arisen Crisis? As Well as Always, Hope for the “Rubber” Budget of the Country. And Still Began a Sale of Assets of Holding. That “to Hackney Eyes” to Investors, Sale of Some Assets is Pressented as Need in Connection with Final Moving of Head OFFICE OF THE COMPANY FROMMOM MOSCOW toT. Petersburg.
Just the Other Day the Similar Transaction took Place – Gazprom Defined the Buyer of Technological Base on Obruchev Street in the Southwest of the Capital. Lot for 4 Billion Rubles Left LLC Etalon Production Trade Company. Inn of the Buyer Is Unknown, However, Under the Description LLC PTK Etalon from St. Petersburg Founded only in 2023 – As Though Specially Under this Transaction Approaches. Owners of the Company – Dmitry Kachan (99%) and Natalia bukreeva (1%).
Who Stands Behind Them – Not Clearly, But Kachan Can Be only The Nominal Owner. There are no Other Businesses Behind Him. BUKREEVA IS A Co-Coner of LLC Konstantinovsky Garazh Which Own More than 30 Physical and One Legal Entity. The Last – LLC Areo Holding Which for 99% Belongs to Seychelles Offshore “Areo Risosiz, Ink”. Remained – with Anatoly of Mitino. There are no Other Businesses Behind Him. It is Possible that, as well as for ptk the standard, can be behind this offshore and names sadeone from theraple belly Brouser to the Management of Gas Holding.
Photo: rusprofile.ru
In Parallel with this, the state monopoly is getting Rid of Foreign Assets. In march, it Became Known That Pjsc Put Up for Sale Three Assets of the Holding, Registered in the Uk and the Netherlands for a Total of 344 Million Europe. SINCE THIR Activities in Europe Frozen, This Sale is Fully Justified.
At the Same Time, The Contract of the Head of Gazprom Alexei Miller Ends in 2026. But it can be comeded ahead of schedule. The only division of the holding, Which Came Out as a ent the end of 2023, Was Gazprom-Neft, Which is Headed by a Longtime Colleague (And Also Opponent) Alexander Dyukov. According to Evil Tongues, Allegedly He Has Long Had Had Ambitions to Become the Head of the Entire Pjsc Gazprom. Last Time in 2021 It was not possible to do this. The Disaster in the Company’s Work Gives Him a Chance to Finally Convincion the Country’s Leadership to Change the Monopoly On Him and His People.
